Document:

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                                                                   Exhibit 10(v)

                   AGREEMENT FOR SALE AND PURCHASE OF ASSETS

This Agreement for Sale and Purchase of Assets (this "Agreement") is entered
into as of the 30th day of December, 1999 ("Effective Date") by and among
ACCI/AllCare of Pennsylvania, Inc., located at 6133 Bristol Parkway, Suite 240,
Culver City, California 90230 ("Purchaser") and Consolidated Health Corporation
of Pittsburgh, Inc., located at 215 South Negley Avenue, Pittsburgh,
Pennsylvania 15206 ("Seller").

         WHEREAS, Purchaser is engaged in the operation and management of
hospitals and clinics; and

         WHEREAS, Seller owns and operates a hospital facility located in
Pittsburgh, Pennsylvania ("the Business"); and

         WHEREAS, Seller desires to sell to Purchaser, and Purchaser desires to
purchase from Seller all of the assets of the Business, and Purchaser desires to
assume none of the liabilities of the Business.

         NOW, THEREFORE, in consideration of the premises and of the mutual
agreements, representations and warranties hereinafter contained, and for other
good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, and intending to be legally bound hereby, the parties do hereby
agree as follows:

1. ASSETS TO BE SOLD AND PURCHASED: Seller hereby agrees to sell, convey,
transfer and deliver to Purchaser, and Purchaser hereby agrees to purchase from
Seller, all of the Assets of Seller (the "Assets") which include, without
limitation, the following:

         1.1 REAL ESTATE The property located at 215 South Negley Avenue,
Pittsburgh, Pennsylvania and the buildings and structures located thereon, as
more fully described in Exhibit A, the "Real Estate".

         1.2 TANGIBLE ASSETS All tangible property of the Seller, including,
without limitation, machinery, equipment, furniture, cabinets, computer
equipment and peripherals, medical equipment, medical supplies, office supplies,
vehicles, all as more fully set forth in Exhibit B.

         1.3 MEDICAL SERVICES CONTRACTS All of Seller's right, title and
interest in contracts or agreements whether oral or written for medical services
between Seller and any employer(s) or their agents including but not limited to
third party administrators, governmental agencies, state, local or other,
insurance companies, managed care groups, medical groups, and contracts or
agreements with any other entities or individuals for the furnishing of medical
or laboratory services by the Seller, as further listed in Exhibit C.

         1.4 ACCOUNTS RECEIVABLE All of Seller's account receivable and all
proceeds thereof

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         1.5 INTANGIBLE ASSETS All of Seller's contract rights, patient
information, demographics, patient charts, goodwill, files and data, and
company, supplier, vendor, merchant source and operations information and data,
and other intangibles relating to the Seller or its operations, including,
without limitation (a) the names, addresses and-telephone numbers of all
Seller's patients and suppliers, (b) contact persons at the suppliers, (c)
billing data, (d) marketing, advertising and purchasing information, (e) the
right to use the name Pittsburgh Specialty Hospital, and its telephone numbers,
and (f) all licenses, accreditations and certifications relating to Pittsburgh
Specialty Hospital (collectively the "Intangible Assets"). As to all Intangible
Assets, Buyer is purchasing all intangible assets regardless of the form of
media in which the same are stored, whether written, typewritten or on
computers, disks, tapes or otherwise.

2. CONSIDERATION The consideration for the sale, transfer, conveyance, delivery
and assignment of the Assets shall be as follows:

         2.1 The Purchaser at Closing shall enter into a mortgage for Three
Million Three Hundred Thousand Dollars ($3,300,000.00) a 30-year mortgage on the
real property, located at 215 S. Negley Avenue, Pittsburgh, Pennsylvania,
payable on the following terms: 360 equal monthly payments at the amount of
$20,465.29 including an interest at 7.25% per annum. Payments shall be required
on the first day of each month, commencing February 15, 2001.

         2.2 Seller shall reimburse Purchaser for any and all HCFA withholdings
on a weekly basis.

         2.3 Withholdings by HCFA are due to a dispute between the Seller the
Podiatric Foundation and HCFA which remains unresolved and which Purchaser must
take subject by operation of law. Seller shall use its concerted and continuous
best efforts to resolve this dispute.

3. SELLER'S COVENANTS Seller covenants that from and after the date of March 1,
1999 until the Closing Date, it:

         3.1 Has operated and utilized the assets of the Seller in the customary
and normal course of business;

         3.2 Has maintained the assets of the Seller in as good a state of
operating condition and repair as they were on the date (reasonable wear and
tear excepted for all tangible assets);

         3.3 Has not pledged, leased, mortgaged, encumbered, sold, transfer or
disposed of any of the assets of the Seller other than use of supplies in the
normal and ordinary course of business, without the prior written consent of
Purchaser, except those receivables which have been purchased by NCFE;

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         3.4 Used best efforts to preserve intact its business organization and
kept available the services of all employees, contracting physicians, agents and
consultants of the Seller, and reserved the goodwill of all suppliers,
employees, patients, customers and others in their business relations with the
Seller;

         3.5 Kept in force all policies of insurance covering the assets;

         3.6 Did not enter into any contract, commitment, or any contract or
lease for the purchase or lease of equipment, raw materials, supplies or real or
personal property, without Purchaser's prior written consent;

         3.7 Conducted its business only in the usual and ordinary course, and
did not change the character of such business or undertake any different
business;

         3.8 Conducted its business so that there was no adverse change in the
amount of any of its assets or liabilities;

         3.9 Has not terminated or made any amendment or change to any lease,
contract, undertaking or other commitment to which it is a party,

         3.10 Has not discharged or satisfied any lien or encumbrance or paid
any obligation or liability (absolute or contingent) other than loans and
current trade liabilities incurred in the ordinary course of business as they
became due; and

         3.11 Promptly notified Purchaser of any and all lawsuits, claims,
proceedings and investigations that were brought, asserted, threatened or
commenced against the Seller.

4. SELLER'S REPRESENTATIONS AND WARRANTIES Seller represents and warrants
to Purchaser that:

         4.1 The Seller is a corporation which is duly organized, validly
existing and in good standing under the laws of the Commonwealth of Pennsylvania
and has all necessary corporate powers to own assets and carry on its business.

         4.2 Seller has the capacity and authority to deliver this Agreement and
other documents to be entered into pursuant to this Agreement. The execution,
delivery and performance by Seller of this Agreement has been duly authorized
and approved by the shareholders and Board of Directors of the Seller. Seller
will present documentation of those corporate actions to Purchaser at Closing.

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         4.3 Pittsburgh Specialty Hospital possesses all licenses,
accreditations and certificates of good standing for the operation of a hospital
in the Commonwealth of Pennsylvania, and that all of the above are in good
standing.

         4.4 The list of accounts receivable generated by Pittsburgh Specialty
Hospital as set forth in Exhibit D attached hereto is true and correct as of the
date hereof.

         4.5 Exhibits A, B, C, and D to this Agreement constitute a complete and
accurate schedule describing and specifying the location of all the assets of
Seller owned by, in the possession of, or used by the Seller, other than the
Seller's Intangible Assets. The Assets listed in Exhibits A, B, C, and D plus
the Seller's Intangible Assets constitute all of the property of Pittsburgh
Specialty Hospital. Seller further warrants that the listed property constitutes
all the property necessary for the conduct of the business of Pittsburgh
Specialty Hospital as it has been conducted;

         4.6 The Seller has good marketable title to all its Assets and
interests in the Assets, whether real, personal, mixed, tangible, and
intangible, which constitute all the Assets of the Seller. All the Assets are
free and clear of restrictions on or condition to transfer or assignment, and
free and clear of mortgages, liens, pledges, charges, encumbrances, equities,
claims, easements, rights of way, covenants, conditions or restrictions; except
for those liabilities listed in Section 2.1 above.

         4.7 Exhibit E is a list of any and all contracts, agreements, leases,
insurance policies (listing amounts of coverage and deductible pay) that
Purchaser is specifically assuming pursuant to this Agreement. The Seller is not
in default under any listed agreement(s), and the Seller has not previously sold
or assigned any such listed agreement to any other party, and no listed
agreement is currently pledged as collateral;

         4.8 Except as stated in Exhibit E, no personal property used by the
Seller in connection with its business is held under any lease, security
agreement, conditional sales contract, or other title retention or security
arrangement, or is located other than in the possession of the Seller;

         4.9 As of the date of this Agreement, the Seller has complied with, and
is not in violation of, applicable statutes, laws, regulations or ordinances
governing the accreditation and licensing of hospitals in the Commonwealth of
Pennsylvania.

         4.10 There are no suits, actions, liens and encumbrances, arbitrations,
or other legal, administrative or other proceedings; or governmental
investigations pending; or, to the best knowledge of the Seller, threatened
against or affecting the Seller except as disclosed on the Litigation Summary
attached hereto as Exhibit F.

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         4.11 The Seller is not engaged in any legal action, claim, lien or
encumbrance to recover money due to, or damages sustained by, it with respect to
the Hospital, except as set forth in Exhibit G attached hereto;

         4.12 To the best of the Seller's knowledge and belief, all parties with
whom the Seller has contractual arrangements are in compliance therewith and are
not in default thereunder. The Seller is not in default in any material respect
under any contract to which it is a party or on any obligation owed by it;

         4.13 The Seller does not (a) employ any persons other than those
persons listed in Exhibit H attached hereto or (b) have any oral or written
consulting or independent contractor relationship with any other person, company
or corporation, except as stated in such Exhibit H. The compensation of those
individuals listed is also set forth in Exhibit H. Seller acknowledges that
Purchaser has made no representation as to the continued employment of any
employee.

         4.14 The Seller's financial statements delivered to Purchaser as set
forth in Exhibit I (the "Financial Statements") are true and complete copies of
the original documents which they represent, are true and accurate in all
material respects, and accurately represent in all material respects the
financial position of the Seller as of their respective dates;

         4.15 There has been no adverse change in the financial condition,
liabilities, assets, business, or prospects of the Seller relating to or
affecting the Seller since October 31, 1999, the date of the most recent
financial statement of Seller delivered to Purchaser;

         4.16 All business, federal and state payroll, income, sales, use,
withholding Social Security, state disability, unemployment insurance, or
similar tax liabilities of the Seller have been fully satisfied or provided for,
and there are no audits pending by, or disputes with, any tax authority with
respect to any such items;

         4.17 The Seller has carried substantial professional malpractice
coverage at all times during their operation of the Hospital, and that such
coverage will continue with respect to all services performed by the Seller and
any of its employees, agents, and independent contractors through and including
the date of this Agreement The Seller has maintained and now maintains insurance
on all its assets and business of a type customarily carried, covering property
damage and loss of income by fire and other casualty, and adequate insurance
protection against all liabilities, claims and risks against which it is
customary to insure (it is the Purchaser's intention to take over the existing
policies referred to above by notifying the insurance carriers of the change of
ownership between the Seller and the Purchaser;

         4.18 Neither this Agreement nor any other agreement, written statement
or certificate made or delivered in connection with the Agreement and the
transactions contemplated hereby contains any untrue statement of a material
fact or omits to state a material fact necessary to make the statements herein
or therein not misleading.

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         4.19 Seller has complied with any and all bulk sales or bulk transfer
laws in connection with the transactions contemplated by this Agreement.

5. PURCHASER'S REPRESENTATIONS AND WARRANTIES.

         5.1 Purchaser is a corporation duly organized, validly existing, and in
good standing under the laws of the Commonwealth of Pennsylvania, and has all
necessary corporate powers to own its assets and carry on its business;

         5.2 Purchaser has the capacity and authority to deliver this Agreement
and other documents to be entered into pursuant to this Agreement. The
execution, delivery and performance by Purchaser of this Agreement has been duly
authorized and approved by its shareholders and Board of Directors.

6. FURTHER COVENANTS OF THE SELLER.

         6.1 From time to time after the Closing, at Purchaser's request and
expense, Seller shall execute, acknowledge and deliver to Purchaser such other
instruments of conveyance and transfer and shall take such other actions and
execute and deliver such other documents, certifications and further assurances
as Purchaser may reasonably require in order to put Purchaser more fully in
possession of any of the Assets, or to better enable Purchaser to perform. Each
of the parties hereto shall cooperate with the other and execute and deliver to
the other parties hereto such other instruments and documents and take such
other actions as may be reasonably requested from time to time by the other
party hereto as necessary to carry out, evidence, and confirm the intended
purposes of this Agreement and the consummation of the transaction hereunder. In
addition, Seller, at Purchaser's expense, will execute and file or join in the
execution and filing of any and all applications and other documents which may
be necessary in order to obtain the authorization, approval or consent of any
governmental body or agency, whether local, state or federal, or any
quasi-governmental body which may be reasonably required or which Purchaser may
reasonably request in connection with the execution of this Agreement and or
consummation of the transactions contemplated hereby.

7. THE CLOSING.

         7.1 CLOSING DATE. The closing of this transaction ("Closing") and the
transfer of the purchased assets shall be held at the offices of Purcell &
Scott, 6035 Memorial Drive, Dublin, Ohio 43017 at 10:00 a.m. on December 30,
1999.

         7.2 ITEMS TO BE DELIVERED BY SELLER AT CLOSING Seller shall deliver to
Purchaser the following documents and instruments (to the extent not theretofore
delivered):

         (a)      A fully executed copy of this Agreement with all Exhibits.

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         (b)      A deed to the Real Estate;

         (c)      An assignment of all of Seller's patient lists, medical charts
                  and records;

         (d)      A covenant not to compete, in form reasonably satisfactory to
                  Purchaser;

         (e)      A bill of sale for, and all other necessary documents to
                  transfer title to, the Assets (other than the Real Estate).

         (f)      A complete and accurate set of all books, records and
                  financial statements regarding the operation of the Seller's
                  business.

         (g)      Documentation to show that Seller has complied with all bulk
                  sales or bulk transfer laws in connection with the transaction
                  contemplated by this agreement

7.3 CLOSING CONDITIONS

         (a)      The obligation of Purchaser to purchase the Assets on the
                  Closing Date shall be subject to satisfaction of the following
                  conditions on or before the Closing Date:

                  (1)      The representations and warranties of the Seller
                           stated herein shall be true and correct on the
                           Closing Date as though made on the Closing Date.

                  (2)      The Seller shall have performed all of the covenants
                           and obligations, which are required by this
                           Agreement, to be performed on or before the Closing
                           Date.

         (b)      The obligation of Seller to sell the Assets on the Closing
                  Date shall be subject to satisfaction of the following
                  conditions on or before the Closing Date:

                  (1)      Purchaser shall have performed all of its
                           obligations, which are required by this Agreement to
                           be performed before the Closing Date.

                  (2)      Approval by the Board of Directors of Purchaser for
                           the acquisition of Assets referred to in this
                           Agreement.

8. TAX INDEMNITY.

         8.1 Except for trade debt, which is to be handled asset forth in
Section 6.2, above, Seller shall indemnify, hold harmless and defend the
Purchaser, its officers, directors, employees, representatives and other agents,
and their successors and assigns from and against, any and all claims, demands,
liabilities, debts, taxes, penalties or interest by or to all persons or
entities (including, without limitation, the Internal Revenue Service, the
Pennsylvania Department of Revenue, the Pennsylvania Franchise Tax Board,
together with reasonable

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attorneys' fees and costs, arising from or relating to (a) the operation of
Seller on or prior to the Closing Date, or (b) any breach of the Seller's
covenants set forth in this Agreement or any inaccuracy of any the Seller's
representations or warranties set forth in this Agreement.

         8.2 Purchaser shall indemnify and hold the Seller harmless from, and
defend the Seller against, any and all claims, demands, liabilities and debts by
or to all persons or entities (including, without limitation, the Internal
Revenue Service, the Pennsylvania Franchise Tax Board, and the Pennsylvania
Department of Revenue), together with reasonable attorneys' fees and costs,
arising from or relating to the operation of Pittsburgh Specialty Hospital after
the Closing Date.

9. INDEMNIFICATION.

         9.1 BY SELLER. Subject to the terms and conditions of this Article 9,
Seller shall Indemnify, defend and hold harmless Purchaser, and its
shareholders, directors, officers, employees, agents and controlled and
controlling persons (hereinafter collectively "Purchaser's Affiliates") from and
against all Claims asserted against, resulting to, imposed upon, or incurred by
Purchaser, Purchaser's Affiliates or the Purchased Assets directly or
indirectly, for, by reason of, arising out of or resulting from (a) the
inaccuracy or breach or any representation or warranty of Seller contained in or
made pursuant to this Agreement or any Ancillary Document, (b) the breach of any
covenant or other agreement of Seller contained in this Agreement or any
Ancillary Documents, (c) the failure to comply with any and all bulk sales or
bulk transfer laws in connection with the transactions contemplated by this
Agreement, and (d) any Liabilities arising out of the operation of the Business
prior to the Closing. As used in this Article 9, the term "Claim" shall include
(1) all debts, liabilities and obligations (2) all losses, damages (including,
without limitation, with respect to Claims brought by a third party against an
Indemnified Party, consequential damages), judgments, awards, settlements, costs
and expenses (including, without limitation, interest, including prejudgment
interest in any litigated matter), penalties, court costs and reasonable
attorneys' fees and expenses; and (3) all demands, claims suits, actions, costs
of investigation, causes of action, proceedings and assessments.

         9.2 BY PURCHASER. After the Closing, Purchaser shall indemnify, defend
and hold harmless Seller from and against any and all claims asserted against,
imposed upon or incurred by Seller which arise out of or result from a
misrepresentation, breach of warranty or breach of any covenant of Purchaser
contained herein.

         9.3 PAYMENT. The party from whom indemnification is sought (the
"Indemnifying Party") shall promptly pay the party to be indemnified (the
"Indemnified Party") any amount due under this Article 93.

         9.4 INDEMNIFICATION OF THIRD-PARTY CLAIMS. The obligation and
liabilities of any party to indemnify any other under this Article 9.4 with
respect to claims relating to third parties shall be subject to the following
terms and conditions:

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                  A. NOTICE AND Defense The Indemnified Party will give the
Indemnifying Party written notice of any such claim, and the Indemnifying Party
shall undertake the defense thereof by representatives chosen by it by written
notice thereof to the Indemnified Party. Prior to receipt of such notice, the
Indemnified Party shall defend such claim for the account of the Indemnifying
Party. The assumption of defense shall constitute an admission by the
Indemnifying Party of its indemnification obligation with respect to such claim,
and its undertaking to pay directly all Claims incurred in connection therewith.
Failure to give notice to the Indemnifying Party shall not affect the
Indemnifying Party's duty or obligations under this Article, except to the
extent the Indemnifying Party is prejudiced thereby. So long as the Indemnifying
Party is defending any such claim actively and in good faith, the Indemnified
Party shall not settle such claim. The Indemnified Party shall make available to
the Indemnifying Party or its representatives all records and other materials
required by it and in the possession or under the control of the Indemnified
Party, for the use of the Indemnifying Party and its representatives in
defending any such claim, and shall in other respects give reasonable
cooperation in such defense.

                  B. FAILURE TO DEFEND. If the Indemnifying Party, within ten
(10) days after notice of any such claim, fails to notify the Indemnified Party
in writing that it will defend such claim actively and in good faith, the
Indemnified Party will have the right to undertake the defense, compromise or
settlement of such claim or consent to the entry of a judgment with respect to
such claim, on behalf of and for the account and risk of the Indemnifying Party,
and the Indemnifying Party shall thereafter have no right to challenge the
Indemnified Party's defense, compromise, settlement or consent to judgment
therein.

                  C. INDEMNIFIED PARTY'S RIGHTS Anything in this Section to the
contrary notwithstanding, (i) if there is a reasonable probability that a claim
may materially and adversely affect the Indemnified Party other than as a result
of money damages or other money payments, the Indemnified Party shall have the
right to defend, compromise or settle such claim, and (ii) the Indemnifying
Party shall not, without the written consent of the Indemnified Party which
consent may not be unreasonably withheld, conditioned or delayed, settle or
compromise any claim or consent to the entry of any judgment which does not
include as an unconditional term thereof the giving by the claimant or the
plaintiff to the Indemnified Party of a release from all Liabilities in respect
of such claim.

9.5 ARBITRATION

                  A. COMMENCEMENT OF ARBITRATION. If the parties hereto are
unable to resolve any and all disputes arising out of, relating to or in
connection with this Agreement including, without limitation, in respect to the
formation of this Agreement, or the construction or interpretation of this
Agreement, any party may commence arbitration by sending a written demand for
arbitration to the other party or parties, as provided for in the Notice
provisions of this Agreement. Such demand shall set forth the nature of the
matter to be resolved by arbitration.

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                  B. SELECTION OF ARBITRATION. There shall be one arbitrator. If
the parties shall fail to select a mutually agreed upon acceptable arbitrator
within ten (10) days after the demand for arbitration is mailed, the parties
hereby stipulate to arbitration before a retired judge sitting on the Allegheny
County Arbitration Commission.

                  C. ARBITRATION FEES. The prevailing party shall be entitled to
reimbursement by the other party(ies) of such party(ies)'s attorneys' fees and
costs incurred in connection with the arbitration hereunder.

                  D. LAW TO BE APPLIED. The substantive law of the State of
Pennsylvania shall be applied by the arbitrator to the resolution of the
dispute.

                  E. PLACE AND TIMING OF ARBITRATION. Arbitration shall take
place in Allegheny County, Pennsylvania, unless the parties otherwise agree. As
soon as reasonably practicable, a hearing with respect to the dispute or matter
to be resolved shall be conducted by the arbitrator. As soon as reasonably
practicable, but not later than thirty (30) days after the hearing is completed,
the arbitrator shall arrive at a final decision, which shall be reduced to
writing, signed by the arbitrator and mailed to each of the parties and their
legal counsel.

                  F. ARBITRATION TO BE BINDING. All decisions of the arbitrator
shall be final, binding and conclusive on all parties, and shall constitute the
only method of resolving disputes or matters subject to arbitration pursuant to
this Agreement. The arbitrator or a court or appropriate jurisdiction may issue
a writ of execution to enforce the arbitrator's judgment. Judgment may be
entered upon such decision in accordance with applicable law in any court having
jurisdiction thereof.

         9.6 REMEDIES TO BE CUMULATIVE. The remedies of the Indemnitee provided
herein shall be in addition to, and not in lieu of, any other remedies to which
the Indemnitee is entitled by law or in equity for any breach or noncompliance
by the Indemnitor with the provisions of this Agreement. As to any costs imposed
upon or suffered by Purchaser for which Seller may be covered by insurance,
Seller does hereby assign to Purchaser Seller's rights as an insured thereunder,
to the extent the policy so permits.

         9.7 LIMITATION ON INDEMNITY OBLIGATIONS. It is the intention of the
parties that there be afforded to each of them certain de minimis protections
with respect to the application of the foregoing indemnity provisions.
Accordingly, notwithstanding anything in this Agreement to the contrary, the
parties agree as follows:

                  A. The parties agree that Claims will not be submitted for
indemnification, unless the demands, claims, actions, or causes of action,
judgments, assessments, losses, liabilities, damages, penalties, fines, or
forfeitures and reasonable attorneys fees and related expenses are disbursements
making up such Claims, will aggregate at least Ten Thousand Dollars ($10,000.00)
in amount.

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                  B. Regardless of the limitations placed by subsection (a)
above, the notice provisions of Section 9.3 shall continue to apply.

10. TRANSITION PROVISION/LETTER OF INTRODUCTION. The Seller shall, at a time
determined by Purchaser, send a letter in a form satisfactory to Purchaser to
all medical and non-medical staff regarding the Purchasers ownership of the
Assets.

11. MISCELLANEOUS.

         11.1     NOTICES.

                  (a) Any notice provided for or permitted to be given pursuant
to this Agreement must be in writing, and shall be deemed to have been properly
given only if personally delivered or deposited in the official United States
mail, postpaid and registered or certified, with return receipt requested,
addressed as follows:

                 If to the Purchaser        ACCI/AllCare of Pennsylvania, Inc.
                                            6133 Bristol Parkway, Suite 240
                                            Culver City, CA 90230

                 If to the Seller           CHC of Pittsburgh, Inc.
                                            c/o Randoph H. Speer
                                            6125 Memorial Drive
                                            Dublin, OH 43017

                  (b) All notices shall be effective upon the date of personal
delivery or the date of receipt on the return the receipt of the notice on
behalf of the addressee thereof. Rejection or other refusal to accept a notice
or the inability to deliver the same because of changed address of which no
notice was given as provided herein shall be deemed to be receipt of the notice
sent.

                  (c) By giving the other parties at least 30 days' written
notice thereof, any party shall have the right, at any time or from time to
time, to change its or his address.

         11.2 Brokers. Each party hereto represents that it has not dealt with
any broker or finder or incurred any liability for brokerage or finder's fees or
commissions in connection with this Agreement or the transactions contemplated
hereby. Any party responsible for the creation of any such fees or commissions
shall hold the other party harmless with respect to such fees or commissions.

         11.3 ATTORNEYS' FEES. If this Agreement gives rise to a lawsuit or
other legal proceedings between the parties hereto, the prevailing party shall
be entitled to recover actual court costs and reasonable attorneys" fees and
costs in addition to any other relief to which such party may be entitled.

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<PAGE>

          11.4 SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the
parties hereto and shall inure to the benefit of their successors,
representatives and assigns.

          11.5 GOVERNING LAW. This Agreement was made and executed in, and the
shares are being delivered in, the Commonwealth of Pennsylvania, and this
Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Pennsylvania.

          11.6 ENTIRE AGREEMENT. This Agreement constitutes the entire
understanding of the parties hereto with respect to the subject matter hereof,
and may not be modified, amended or otherwise changed in any manner, and no
provision hereof may be waived, except by a writing executed by the party to be
charged therewith.

          11.7 COSTS AND EXPENSES. Purchaser and Seller shall each pay their
respective costs and expenses incurred in the negotiation and preparation of
this Agreement; provided, however, that any and all state or local sales, use,
transfer or any other tax resulting from this sale shall be borne by the Seller.

          11.8 Notwithstanding anything written herein, should this document
require modification or clarification consistent with its general terms, the
parties agree they will be made.

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

THE SELLER:                            THE PURCHASER

Consolidated Health Corporation        ACCI/AllCare of Pennsylvania, Inc.
of Pittsburgh, Inc.

By: /s/ Michael Goldberg               By:
    -------------------------------        -------------------------------------
    Michael Goldberg, President            Sandra Marsh, President and
                                           Chief Executive Officer

                                       12<PAGE>

                                                                 EXHIBIT (10)(u)

                           J. ALEXANDER'S CORPORATION
                          EMPLOYEE STOCK OWNERSHIP PLAN

                            (AS AMENDED AND RESTATED)

                         EFFECTIVE DATE: JANUARY 1, 1997

<PAGE>

                           J. ALEXANDER'S CORPORATION
                          EMPLOYEE STOCK OWNERSHIP PLAN

                              AMENDED AND RESTATED
                            EFFECTIVE JANUARY 1, 1997

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                              <C>
ARTICLE I
    Purpose.................................................................................................2
ARTIE II
    Definitions.............................................................................................3
         2.1    Definitions.................................................................................3
                  (a)      Account..........................................................................3
                  (b)      Acquisition Loan.................................................................3
                  (c)      Additions........................................................................3
                  (d)      Administrator....................................................................3
                  (e)      Adopting Company.................................................................3
                  (f)      Affiliated Company...............................................................3
                  (g)      Authorized Leave of Absence......................................................3
                  (h)      Beneficiary......................................................................4
                  (i)      Board of Directors...............................................................4
                  (j)      Break in Service.................................................................4
                  (k)      Cash Sub-Account.................................................................4
                  (l)      Change of Control................................................................5
                  (m)      Code.............................................................................6
                  (n)      Committee........................................................................6
                  (o)      Company..........................................................................6
                  (p)      Company Stock....................................................................6
                  (q)      Company Stock Sub-Account........................................................6
                  (r)      Compensation.....................................................................6
                  (s)      Determination Date...............................................................7
                  (t)      Direct Rollover..................................................................7
                  (u)      Disability Benefit Date..........................................................7
                  (v)      Distributee......................................................................7
                  (w)      Early Retirement Date............................................................7
                  (x)      Effective Date...................................................................7
                  (y)      Eligible Retirement Plan.........................................................7
                  (z)      Eligible Rollover Distribution...................................................8
                  (aa)     Employee.........................................................................9
                  (bb)     Employer.........................................................................9
                  (cc)     ERISA............................................................................9
                  (dd)     Fiduciaries......................................................................9
                  (ee)     Financed Shares..................................................................9
                  (ff)     5-Percent Owner..................................................................9
                  (gg)     Flexible Benefits Plan...........................................................9
                  (hh)     Forfeiture.......................................................................9
</TABLE>

                                 i
<PAGE>

<TABLE>
<S>                                                                                                        <C>
                  (ii)     Former Participant...............................................................9
                  (jj)     Highly Compensated Employee.....................................................10
                  (kk)     Hour of Service.................................................................10
                  (ll)     Income..........................................................................12
                  (mm)     Key Employee....................................................................12
                  (nn)     Leased Employee.................................................................12
                  (oo)     Loan Amortization Account.......................................................13
                  (pp)     Loan Suspense Account...........................................................13
                  (qq)     Minimum Benefit.................................................................13
                  (rr)     Non-Key Employee................................................................13
                  (ss)     Normal Retirement Date..........................................................13
                  (tt)     Participant.....................................................................13
                  (uu)     Plan............................................................................13
                  (vv)     Plan Year.......................................................................13
                  (ww)     Qualified Participant...........................................................13
                  (xx)     Savings Incentive Plan..........................................................13
                  (yy)     Section 415 Compensation........................................................14
                  (zz)     Stock Purchase Account..........................................................14
                  (aaa)    Top-Heavy Plan..................................................................14
                  (bbb)    Top-Heavy Plan Year.............................................................14
                  (ccc)    Trust...........................................................................14
                  (ddd)    Trustee.........................................................................14
                  (eee)    Valuation Date..................................................................14
                  (fff)    Year of Eligibility Service.....................................................14
                  (ggg)    Year of Vesting Service.........................................................15
ARTICLE III
    Participation..........................................................................................16
         3.1    Participation..............................................................................16
         3.2    Termination of Participation...............................................................16
         3.3    Participation upon Re-Employment...........................................................16
         3.4    Agreement to Terms of Plan.................................................................16
ARTICLE IV
    Contributions and Forfeitures..........................................................................17
         4.1    Employer Contributions.....................................................................17
         4.2    Employee Contributions.....................................................................17
         4.3    Forfeitures................................................................................19
         4.4    Employer Top-Heavy Special Contributions...................................................20
         4.5    Rollover Contributions.....................................................................20
         4.6    Time of Payment of Employer Contributions..................................................20
         4.7    Acquisition Loans..........................................................................21
ARTICLE V
    Allocations to Participant's Accounts..................................................................22
         5.1    Individual Accounts........................................................................22
         5.2    Account Adjustments........................................................................22
                  (a)      Forfeitures and Employer Contributions..........................................22
                  (b)      Stock Purchase Account..........................................................22
</TABLE>

                                       ii
<PAGE>

<TABLE>
<S>                                                                                                        <C>
                  (c)      Loan Amortization Account.......................................................23
                  (d)      Sub-Accounts of Participant's Account...........................................23
                  (e)      Financed Shares.................................................................24
                  (f)      Income..........................................................................25
                  (g)      Dividends on Company Stock......................................................25
         5.3    Maximum Additions..........................................................................26
         5.4    Allocation of Top-Heavy Special Contribution to Provide Minimum Benefits...................27
ARTICLE VI
    Benefits...............................................................................................28
         6.1    Time for Distribution......................................................................28
         6.2    Method of Payment..........................................................................30
         6.3    Normal Retirement Benefit..................................................................30
         6.4    Early Retirement Benefit...................................................................30
         6.5    Delayed Retirement Benefit.................................................................30
         6.6    Total and Permanent Disability Benefit.....................................................30
         6.7    Death Benefit..............................................................................30
         6.8    Vested Benefit.............................................................................30
         6.9    Designation of Beneficiary.................................................................31
         6.10   Additional Benefits........................................................................32
         6.11   Form of Distribution.......................................................................32
         6.12   Distribution of Dividends on Company Stock.................................................33
         6.13   Pre-Retirement Distribution Rights.........................................................33
         6.14   Valuation Date.............................................................................33
         6.15   Direct Rollover............................................................................34
ARTICLE VII
    Trust; Voting Rights...................................................................................35
         7.1    Assets Held in Trust.......................................................................35
         7.2    Voting Rights..............................................................................35
         7.3    Tender Offer...............................................................................36
ARTICLE VIII
    Administration.........................................................................................38
         8.1    Allocation of Responsibility Among Fiduciaries for Plan and Trust Administration...........38
         8.2    Appointment of Committee...................................................................38
         8.3    Claims and Review Procedures...............................................................38
         8.4    Committee Powers and Duties................................................................39
         8.5    Rules and Decisions........................................................................40
         8.6    Committee Procedures.......................................................................40
         8.7    Authorization of Member to Sign Documents..................................................40
         8.8    Duty to Keep Records and File Reports......................................................41
         8.9    Authorization of Benefit Payments..........................................................41
         8.10   Application and Forms for Benefits.........................................................41
         8.11   Facility of Payment........................................................................41
         8.12   Indemnification of Committee Members.......................................................41
</TABLE>

                                      iii
<PAGE>

<TABLE>
<S>                                                                                                        <C>
ARTICLE IX
    Miscellaneous..........................................................................................42
         9.1    Nonguarantee of Employment.................................................................42
         9.2    Rights to Trust Assets.....................................................................42
         9.3    Nonalienation of Benefits..................................................................42
         9.4    Discontinuance of Employer Contributions...................................................42
         9.5    Single Plan and Trust of Employers.........................................................42
         9.6    Leased Employees...........................................................................43
         9.7    Applicable Law.............................................................................43
         9.8    Acquisition by or of Adopting Company......................................................43
         9.9    No Restrictions on Financed Shares.........................................................43
         9.10   Qualified Military Service.................................................................44
         9.11   Certain Judgments, Orders, Decrees and Settlements.........................................44
ARTICLE X
    Amendments and Action by Employer......................................................................45
         10.1   Amendments.................................................................................45
         10.2   Limitation on Amendments...................................................................45
         10.3   Action by Employer.........................................................................45
ARTICLE XI
    Successor Employer and Merger or Consolidation of Plan.................................................46
         11.1   Successor Employer.........................................................................46
         11.2   Plan Assets................................................................................46
ARTICLE XII
    Plan Termination.......................................................................................47
         12.1   Right to Terminate.........................................................................47
         12.2   Partial Termination........................................................................47
         12.3   Liquidation of the Trust...................................................................47
         12.4   Manner of Distribution.....................................................................47
         12.5   Company Stock in Loan Suspense Account.....................................................47
ARTICLE XIII
    Top-Heavy Provisions...................................................................................48
         13.1   Top-Heavy Plan Requirements................................................................48
         13.2   Definitions................................................................................48
         13.3   Determination of Top-Heavy Status..........................................................49
</TABLE>

                                       iv
<PAGE>

                                    PREAMBLE

         WHEREAS, effective as of January 1, 1992, Volunteer Capital Corporation
(which subsequently changed its name to J. Alexander's Corporation), a Tennessee
corporation (the "Company"), established the Volunteer Capital Corporation
Employee Stock Ownership Plan (the "Plan") to enable its eligible employees to
share in the growth and prosperity of the Company; and

         WHEREAS, the Company amended the Plan on February 17, 1993, and in
connection with the receipt of a favorable determination letter dated April 1,
1994, the Plan was again amended to comply with IRS requirements on June 29,
1994; and

         WHEREAS, the Plan was further amended on February 17, 1998 and December
30, 1998, and the name of the Plan was changed to be J. Alexander's Corporation
Employee Stock Ownership Plan; and

         WHEREAS, the Company desires to amend and restate the Plan to update
the Plan for the remaining changes required by legislation referred to as the
Uniformed Services Employment and Reemployment Act of 1994, the Small Business
Job Protection Act of 1996, the Taxpayer Relief Act of 1997, the Internal
Revenue Service Restructuring and Reform Act of 1998, the Uruguay Round
Agreement Act ("GATT"), and the Community Renewal Tax Relief Act of 2000, as
well as various regulatory provisions, and several other technical changes as
required in order to comply with Internal Revenue Service rulings regarding the
GUST amendments, and to make certain changes permitted or required by the
Economic Growth and Tax Relief Reconciliation Act of 2001, after which the
Company intends to apply to the IRS for a determination letter ("GUST letter").

         NOW, THEREFORE, in consideration of the premises, effective as of
January 1, 1997 (except for such other dates as may be noted for certain
provisions), the Company hereby amends and restates the Plan to provide as
hereinafter set forth in this document.

                                       1
<PAGE>

                                    ARTICLE I

                                     PURPOSE

         The Plan and Trust are for the purpose of enabling employees of the
Company and of any other Adopting Company to share in the growth and prosperity
of the Company and to accumulate capital for their future economic security. The
Plan and Trust are intended to be a stock bonus plan and trust meeting the
requirements of Sections 401(a) and 501(a) of the Internal Revenue Code of 1986,
and the Employee Retirement Income Security Act of 1974, as amended, ("ERISA")
so the Plan will be a qualified plan and the Trust will be exempt from taxation.
A primary purpose of the Plan is to enable Participants to acquire a proprietary
interest in the Company and, in furtherance of that goal, contributions of the
Employer to the Trust will be invested primarily in Company Stock. The Plan and
Trust obtained a loan from the Company to finance the acquisition of Company
Stock and purchased Company Stock from certain shareholders of the Company on or
about June 25, 1992. The Plan is an employee stock ownership plan, as described
in Section 4975(e)(7) of the Code and in Section 407(d)(6) of ERISA, which is a
stock bonus plan qualified under Section 401(a) of the Code.

                                       2
<PAGE>

                                   ARTICLE II

                                   DEFINITIONS

         2.1      Definitions. The following words and phrases, when used
herein, unless the context clearly indicates otherwise, shall have the following
meanings:

                  (a)      Account. The Account maintained for a Participant to
         record his share of contributions by the Employer and adjustments
         thereto. A Participant's Account is composed of two sub-accounts, the
         Company Stock Sub-Account and the Cash Sub-Account.

                  (b)      Acquisition Loan. A loan incurred by the Trustee to
         acquire Company Stock pursuant to Section 4975(d)(3) of the Code.

                  (c)      Additions. The sum of Employer contributions pursuant
         to Section 4.1 (including cash contributions to the Stock Purchase
         Account and the Loan Amortization Account) and Forfeitures which would
         be allocated to the Participant's Account for a Plan Year if such
         contributions and Forfeitures were combined and allocated directly to
         the Account in proportion to Compensation. If no more than one-third
         (1/3) of the Employer contributions for the Plan Year to the Loan
         Amortization Account which are deductible under paragraph (9) of
         Section 404(a) of the Code are allocated to Highly Compensated
         Employees, the annual Additions for such Plan Year shall not include
         either (i) Forfeitures of Financed Shares, or (ii) Employer
         contributions to the Loan Amortization Account which are applied to pay
         interest on an Acquisition Loan and deductible under Section
         404(a)(9)(B) of the Code.

                  (d)      Administrator. The Committee.

                  (e)      Adopting Company. Any organization or corporation
         affiliated with the Company which is authorized by the Board of
         Directors to adopt the Plan, and which adopts the Plan. The term shall
         also include the Company and any organization or corporation into which
         an Adopting Company may be merged or consolidated or by which it may be
         succeeded, and which may adopt the Plan.

                  (f)      Affiliated Company. Any corporation which is a member
         of a controlled group of corporations of which an Adopting Company is a
         member, or any unincorporated trade or business which is under the
         common control of or with any Adopting Company, or any affiliated
         service group of which an Adopting Company is a member, which are
         required to be aggregated with Employer under Section 414(b), (c), (m)
         or (o) of the Code.

                  (g)      Authorized Leave of Absence. Any absence authorized
         by the Employer under the Employer's personnel practices. An absence
         due to service in the Armed

                                       3
<PAGE>

         Forces of the United States shall be considered an Authorized Leave of
         Absence provided that the Employee does not voluntarily enlist.

                  (h)      Beneficiary. The person or persons (including a trust
         or estate) designated by a Participant in accordance with the
         provisions of Section 6.9 to receive any death benefit which shall be
         payable under this Plan.

                  (i)      Board of Directors. Except where the context clearly
         indicates otherwise, the duly constituted Board of Directors of the
         Company.

                  (j)      Break in Service. A twelve consecutive-month period
         computed on the basis of the Plan Year, in which an Employee has not
         completed more than 500 Hours of Service. For purposes of this Section
         2.1(j), but not for any other purpose, an Employee on an Authorized
         Leave of Absence or who is absent for the reasons described in the
         following sentence shall be deemed to have completed the number of
         Hours of Service as he is regularly scheduled to complete while at
         work. In the case of an Employee's absence from work for any period

                           (i)      by reason of the pregnancy of the
                  individual,

                           (ii)     by reason of the birth of the child of the
                  individual,

                           (iii)    by reason of the placement of a child with
                  the individual in connection with the adoption of such child
                  by such individual, or

                           (iv)     for purposes of caring for such child for a
                  period beginning immediately following such birth or
                  placement,

         the hours so treated as Hours of Service shall not exceed 501 Hours of
         Service and shall be credited only in the Plan Year in which such
         absence commences if the Participant would be prevented from incurring
         a Break in Service in that Plan Year solely because of such crediting,
         or in any other case, in the immediately following Plan Year.

                  (k)      Cash Sub-Account. The portion of a Participant's
         Account which reflects his share of

                           (i)      the amount, if any, of Employer
                  contributions made in cash;

                           (ii)     any cash dividends on Company Stock that has
                  been allocated to his Company Stock Sub-Account (other than
                  currently distributable dividends or dividends used to repay
                  an Acquisition Loan);

                           (iii)    cash Forfeitures; and

                                       4
<PAGE>

                           (iv)     proceeds of the sale of Company Stock
                  allocated to his Company Stock Sub-Account.

                  (l)      Change of Control. A Change of Control shall occur if
         any one of the following should occur:

                           (i)      any "person" (as such term is defined in
                  Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
                  1934, as amended) becomes the beneficial owner, directly or
                  indirectly, of securities of the Company representing 20% or
                  more of either the then issued and outstanding common stock or
                  the combined voting power of the Company's then outstanding
                  securities;

                           (ii)     the shareholders of the Company approve

                                    (A)      any merger, consolidation or other
                           business combination of the Company with any other
                           "person" (as defined in Sections 13(d) and 14(d)(2)
                           of the Securities Exchange Act of 1934, as amended)
                           or affiliate thereof, other than a merger or
                           consolidation that would result in the outstanding
                           common stock of the Company immediately prior thereto
                           continuing to represent (either by remaining
                           outstanding or by being converted into common stock
                           of the surviving entity or a parent or affiliate
                           thereof) at least sixty percent (60%) of the
                           outstanding common stock of the Company or such
                           surviving entity or a parent or affiliate thereof
                           outstanding immediately after such merger,
                           consolidation or other business combination, or

                                    (B)      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; or

                           (iii)    during any period of two consecutive years,
                  individuals who at the beginning of such period were members
                  of the Board of Directors of the Company cease for any reason
                  to constitute at least a majority thereof (unless the
                  re-election, or the nomination for election by the Company's
                  stockholders, of each new director was approved by a vote of
                  at least two-thirds of the directors then still in office who
                  were directors at the beginning of the period).

                  Notwithstanding the occurrence of any of the foregoing events,
         the Board of Directors may determine that an event otherwise
         constituting a Change of Control of the Company shall not be considered
         a Change of Control for purposes of this Plan. Such determination by
         the Board of Directors shall be effective only if it is made by the
         Board of Directors prior to the occurrence of the event which would
         otherwise be a Change of Control, or after such event if made by the
         Board of Directors a majority of which is

                                       5
<PAGE>

         composed of the same members as constituted the Board of Directors
         immediately prior to the event that would otherwise be a Change of
         Control of the Company.

                  (m)      Code. The Internal Revenue Code of 1986, as amended.

                  (n)      Committee. The persons appointed pursuant to the
         provisions of Article VIII.

                  (o)      Company. J. Alexander's Corporation, a Tennessee
         corporation, and any successor, purchaser, or transferee of the
         operating assets and business of J. Alexander's Corporation, which
         elects to continue the Plan.

                  (p)      Company Stock. Common stock issued by the Company, or
         by any Affiliated Company, which stock is readily tradable on an
         established securities market. Non-callable preferred stock shall be
         treated as Company Stock if such stock is convertible at any time into
         stock which meets the requirements of the preceding sentence and if
         such conversion is at a conversion price which (as of the date of the
         acquisition by the Plan) is reasonable. For this purpose preferred
         stock shall be treated as non-callable if, after the call, there will
         be a reasonable opportunity for a conversion which meets the
         requirements of the last preceding sentence.

                  (q)      Company Stock Sub-Account. The portion of a
         Participant's Account, expressed in whole and fractional shares of
         Company Stock, which represents his share of (i) Company Stock
         purchased with his Cash Sub-Account; (ii) Employer contributions made
         in the form of Company Stock; (iii) Financed Shares released from the
         Loan Suspense Account; (iv) Forfeitures of Company Stock; and (v) any
         Company Stock attributable to earnings on such Company Stock
         Sub-Account.

                  (r)      Compensation. The total of all amounts paid for
         employment by the Employer to or for the benefit of a Participant
         during the Plan Year (as shown on the Form W-2 filed for federal income
         tax purposes), such as salary, bonus, wage, commission, and overtime
         payments. Compensation shall not include any of the following (even if
         includible in gross income):

                           (i)      reimbursements or other expense allowances
                  and moving expenses (including indemnity payments for loss on
                  sale of an Employee's home); and

                           (ii)     fringe benefits (cash and non-cash),
                  deferred compensation and welfare benefits.

         Notwithstanding the foregoing, Compensation shall include any salary
         reduction or other elective deferrals to the Savings Incentive Plan or
         any other plan pursuant to Section 401(k) of the Code and salary
         reduction contributions or other elective deferrals under the Flexible
         Benefit Plan or any other plan pursuant to Section 125 of the Code.
         Effective on

                                       6
<PAGE>

         January 1, 2001, Compensation shall also include elective amounts that
         are not includible in the gross income of the Employee under Section
         132(f)(4) of the Code. Compensation in excess of the first $150,000 (as
         adjusted from time to time pursuant to Section 401(a)(17)(B) of the
         Code) for any Employee shall not be taken into account. Effective on
         January 1, 2002, the limit on Compensation taken into account for any
         Employee shall be increased to $200,000 (as adjusted from time to time
         pursuant to Section 401(a)(17)(B) of the Code.

                  (s)      Determination Date. The last day of the Plan Year
         preceding the Plan Year for which a determination is made whether the
         Plan is a Top-Heavy Plan.

                  (t)      Direct Rollover. A Direct Rollover is a payment by
         the Plan to the Eligible Retirement Plan specified by the Distributee.

                  (u)      Disability Benefit Date. The first day of the
         calendar month following a determination by the Committee that the
         Participant is unable to engage in any substantial gainful activity by
         reason of a medically determinable physical or mental impairment which
         can be expected to result in death or which has lasted or can be
         expected to last for a continuous period of not less than 12 months.

                  (v)      Distributee. A Distributee includes a Participant and
         Former Participant. In addition, the Participant's surviving spouse and
         the Participant's spouse or former spouse who is the alternate payee
         under a qualified domestic relations order, as defined in Section
         414(p) of the Code, are Distributees with regard to the interest of the
         spouse or former spouse.

                  (w)      Early Retirement Date. The date, prior to the Normal
         Retirement Date, which shall be the later of (i) the date on which a
         Participant attains age 60, or (ii) the date on which he has earned
         five (5) Years of Vesting Service.

                  (x)      Effective Date. January 1, 1997.

                  (y)      Eligible Retirement Plan. [THIS VERSION OF SECTION
         2.1(Y) IS EFFECTIVE FOR DISTRIBUTIONS MADE ON OR BEFORE JANUARY 1,
         2002]. Any of the following:

                           (i)      an individual retirement account as
                  described in Code Section 408(a),

                           (ii)     an individual retirement annuity as
                  described in Code Section 408(b),

                           (iii)    an annuity plan as described in Code Section
                  403(a), or

                           (iv)     a qualified trust as described in Code
                  Section 401(a) which is exempt from tax under Code Section
                  501(a) and which accepts Eligible Rollover

                                       7
<PAGE>

                  Distributions; provided, however, that in the case of an
                  Eligible Rollover Distribution to the surviving spouse, an
                  Eligible Retirement Plan is an individual retirement account
                  or individual retirement annuity.

                  (y)      Eligible Retirement Plan. [THIS VERSION OF SECTION
         2.1(Y) IS EFFECTIVE FOR DISTRIBUTIONS MADE ON OR AFTER JANUARY 1,
         2002.] Any of the following:

                           (i)      a qualified trust as described in Code
                  Section 401(a) which is exempt from tax under Code Section
                  501(a);

                           (ii)     an individual retirement account as
                  described in Code Section 408(a);

                           (iii)    an individual retirement annuity as
                  described in Code Section 408(b);

                           (iv)     an annuity plan as described in Code Section
                  403(a);

                           (v)      an annuity contract as described in Code
                  Section 403(b); and

                           (vi)     an eligible plan under Code Section 457(b)
                  which is maintained by a state, political subdivision of a
                  state, or any agency or instrumentality of a state or
                  political subdivision of a state.

         The foregoing definition of "Eligible Retirement Plan" shall also apply
         in the case of a distribution to a surviving spouse, or to a spouse or
         former spouse who is the alternate payee under a qualified domestic
         relations order as defined in Section 414(p) of the Code.

                  (z)      Eligible Rollover Distribution. Any distribution of
         all or any portion of the balance to the credit of the Distributee,
         except that an Eligible Rollover Distribution does not include any of
         the following:

                           (i)      any distribution that is one of a series of
                  substantially equal periodic payments (not less frequently
                  than annually) over the life (or life expectancy) of the
                  Distributee or the joint lives (or joint life expectancies) of
                  the Distributee and the Distributee's designated Beneficiary,

                           (ii)     a distribution over a period certain of ten
                  years or more,

                           (iii)    a distribution to the extent such
                  distribution is required under Code Section 401(a)(9) for
                  Participants who have attained age 70-1/2,

                           (iv)     the portion of any distribution that is not
                  includible in gross income (determined without regard to the
                  exclusion for net unrealized appreciation with respect to
                  Employer securities), or

                                       8
<PAGE>

                           (v)      effective for distributions on or after
                  January 1, 1999, a distribution of elective deferrals
                  described in Section 402(g)(3) of the Code on account of
                  "financial hardship"; and effective for distributions made
                  after December 31, 2001, any distribution which is made upon
                  the hardship of the Participant.

                  (aa)     Employee. Any person employed by the Employer;
         provided, however, that the term "Employee" shall not include (i)
         Leased Employees (except as otherwise required pursuant to Section 9.8
         of this Plan), (ii) any person included in a unit of employees whose
         terms and conditions of employment are covered by a collective
         bargaining agreement, or (iii) an individual who is classified in the
         records of the Employer as an independent contractor, regardless of
         whether such individual is later determined by the Internal Revenue
         Service or a federal or state court to be a common law employee of the
         Employer.

                  (bb)     Employer. The Company and any Adopting Company.

                  (cc)     ERISA. Public Law No. 93-406, the Employee Retirement
         Income Security Act of 1974, as amended from time to time.

                  (dd)     Fiduciaries. The Employer, the Committee and the
         Trustee, each of which, for purposes of the Plan and ERISA, shall be
         named Fiduciaries; provided, however, that the Employer is not
         necessarily acting in a fiduciary capacity in all its transactions with
         the Plan.

                  (ee)     Financed Shares. Company Stock purchased by the
         Trustee with the proceeds of an Acquisition Loan.

                  (ff)     5-Percent Owner. Any Employee who owns (or is
         considered to own under the constructive ownership rules of Section 318
         of the Code) more than five percent (5%) of the outstanding stock of
         the Adopting Company which employs him or stock possessing more than
         five percent (5%) of the total voting power of the Adopting Company
         which employs him. In making the foregoing determination, the
         beneficial interest in stock of any Adopting Company which may be owned
         by the Trust shall not be attributed to any Employee.

                  (gg)     Flexible Benefit Plan. J. Alexander's Corporation
         Flexible Benefit Plan, a cafeteria plan pursuant to Section 125 of the
         Code, as amended from time to time.

                  (hh)     Forfeiture. The non-vested portion of a Participant's
         Account which is forfeited pursuant to Section 4.3(a) of the Plan.

                  (ii)     Former Participant. A Participant whose employment
         with the Employer has terminated, but who has an Account balance under
         the Plan which has not been paid.

                                       9
<PAGE>

                  (jj)     Highly Compensated Employee. A Highly Compensated
         Employee for the purposes of determinations regarding the current Plan
         Year is any Employee who:

                           (1)      was a 5-Percent Owner at any time during the
                  Plan Year or the preceding Plan Year; or

                           (2)      received Section 415 Compensation (as
                  adjusted below) from the Employer in excess of $80,000 for the
                  preceding Plan Year and, if elected by the Employer for a Plan
                  Year in accordance with Section 414(q)(1)(B)(ii) of the Code,
                  was in the top-paid group of the Employer for the preceding
                  Plan Year. The "top-paid group" referred to in the preceding
                  sentence consists of the 20% most highly compensated employees
                  of the Employer ranked on the basis of compensation received
                  during the next prior Plan Year. For the purposes of
                  determining the number of employees in the "top-paid group"
                  referred to in the preceding sentence, employees described in
                  Code Section 414(q)(5) and Q&A 9(b) of Section 1.414(q)-1T of
                  the Treasury Regulations are excluded.

         In making the above determinations, Section 415 Compensation shall
         include salary reductions or elective deferrals under the Savings
         Incentive Plan or any other plan pursuant to Section 401(k) of the Code
         and salary reductions or elective deferrals under the Flexible Benefits
         Plan or other plan pursuant to Section 125 of the Code. The $80,000
         amount is indexed and shall be adjusted pursuant to Treasury
         Regulations. Furthermore, solely for purposes of this Section 2.1(jj),
         "Employer" shall include any Affiliated Company.

                  (kk)     Hour of Service.

                           (1)      Each hour for which an Employee is directly
                  or indirectly paid or entitled to payment by the Employer for
                  the performance of duties. These hours shall be credited to
                  the Employee for the computation period or periods in which
                  the duties are performed; and

                           (2)      Each hour for which an Employee is directly
                  or indirectly paid or entitled to payment by the Employer for
                  reasons (such as vacation, sickness or disability) other than
                  for the performance of duties, provided that no hours shall be
                  credited to an Employee on account of payments made or due
                  under a plan maintained solely for the purpose of complying
                  with applicable workmen's compensation, unemployment
                  compensation or disability insurance laws, and further
                  provided that no more than 501 Hours of Service shall be
                  credited under this Section 2.1(kk)(2) to an Employee on
                  account of any single continuous period during which the
                  Employee performs no duties (whether or not such period occurs
                  in a single computation period). These hours shall be credited
                  to the Employee for the computation period or periods in which
                  the units of time on the basis of which such payments are
                  calculated occur, beginning with the first unit of

                                       10
<PAGE>

                  time to which the payment relates; provided, however, that if
                  such payment is not calculated on the basis of units of time,
                  such hours shall be credited to the computation period in
                  which the condition for which the Employee is paid or entitled
                  to payment occurs, or if the period during which such
                  condition occurs extends beyond one computation period, such
                  hours shall be allocated between the first two of such
                  computation periods on a reasonable and consistently applied
                  basis as determined by the Committee; and

                           (3)      Each hour for which back pay, irrespective
                  of mitigation of damages, has been either awarded or agreed to
                  by the Employer. These hours shall 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.

                  For the purpose of determining the Hours of Service which must
         be credited to an Employee for a given computation period, the
         following method shall be utilized:

                           (a)      The number of Hours of Service for Employees
                  for whom time records are kept shall be determined from
                  Employer records.

                           (b)      The number of Hours of Service for Employees
                  paid on a salaried basis for whom no time records are kept
                  shall be determined on the basis of the payroll periods for
                  which the Employee is paid or entitled to payment, at the rate
                  of 45 Hours of Service for each weekly payroll period in the
                  case of a weekly payroll period, 90 Hours of Service for each
                  bi-weekly payroll period in the case of a bi-weekly payroll
                  period, 95 Hours of Service for each semi-monthly payroll
                  period in the case of a semi-monthly payroll period, and 190
                  Hours of Service for each monthly payroll period in case of a
                  monthly payroll period. An Employee shall be credited with the
                  full number of Hours of Service corresponding to a payroll
                  period for each payroll period for which the Employee would be
                  required to be credited with at least one Hour of Service
                  under (1), (2) or (3) above.

                  In the case of a payment which is made or due on account of a
         period during which an Employee performs no duties, and which results
         in the crediting of Hours of Service or in the case of an award or
         agreement for back pay which results in the crediting of Hours of
         Service, the number of such Hours of Service to be credited shall be
         determined in accordance with Section 2530.200b-2(b) of the Regulations
         of the Department of Labor issued on December 28, 1976, as the same may
         be amended from time to time, which Regulations are hereby incorporated
         herein by reference as fully as though copied herein verbatim.

                  In calculating the number of Hours of Service with which an
         Employee is to be credited for purposes of determining his eligibility
         to participate under Article III and his vested benefit under Section
         6.8, service with any Affiliated Company shall be counted.

                                       11
<PAGE>

                  (ll)     Income. The net gain or loss of the Trust from
         investments based upon fair market value, as reflected by

                           (i)      interest payments and dividends from all
                  sources other than (A) Company Stock and (B) amounts held in
                  the Loan Amortization Account,

                           (ii)     realized and unrealized gains and losses on
                  securities other than Company Stock,

                           (iii)    other investment transactions, and

                           (iv)     expenses paid from the Trust.

                  (mm)     Key Employee. Any Employee or former Employee (and
         his Beneficiaries) who, at any time during the Plan Year which includes
         the Determination Date, or any of the preceding four (4) Plan Years, is
         -

                           (a)      An officer of any Affiliated Company having
                  annual Section 415 Compensation greater than 50 percent of the
                  limitation in effect under Section 415(b)(1)(A) of the Code
                  for any such Plan Year;

                           (b)      One of the ten Employees having annual
                  Section 415 Compensation greater than the limitation in effect
                  under Section 415(c)(1)(A) of the Code and owning (or
                  considered as owning within the meaning of Section 318 of the
                  Code) both more than a one-half percent (0.5%) interest and
                  the largest percentage ownership interests in any of the
                  Affiliated Companies;

                           (c)      A 5-percent Owner; or

                           (d)      A 1-percent Owner (defined as any person who
                  would be a 5-percent Owner if "one percent (1%)" were
                  substituted for "five percent (5%)" each place it appears in
                  Section 2.1(ff) having annual Section 415 Compensation of more
                  than $150,000.

                  For purposes of determining the number of officers taken into
         account pursuant to Treasury Regulation ss.1.416-1, employees described
         in Section 414(q)(5) of the Code shall be excluded.

                  (nn)     Leased Employee. Any person who is not an employee of
         the Employer and who provides services to the Employer if

                           (i)      such services are provided pursuant to an
                  agreement between the Employer and a leasing organization,

                                       12
<PAGE>

                           (ii)     such person has performed such services for
                  the Employer (or for an Affiliated Company) on a substantially
                  full-time basis for a period of at least one year, and

                           (iii)    such services are performed under primary
                  direction or control by the Employer.

         The determination of whether such person is a Leased Employee shall be
         made in accordance with Section 414(n) of the Code.

                  (oo)     Loan Amortization Account. The single account for the
         Plan which shall be credited with Employer cash contributions made for
         the purpose of repayment of an Acquisition Loan (including interest),
         and other adjustments as provided in Section 5.2(c).

                  (pp)     Loan Suspense Account. The single account for the
         Plan which shall be credited with Financed Shares not yet allocated to
         Participants' Company Stock Sub-Accounts, and other adjustments as
         provided in Section 5.2(e).

                  (qq)     Minimum Benefit. For any Top-Heavy Plan Year, the
         minimum benefit required by Section 416 of the Code to be provided to
         each Participant as described in Section 5.4.

                  (rr)     Non-Key Employee. Any Employee who is not a Key
         Employee.

                  (ss)     Normal Retirement Date. The date on which a
         Participant attains age 65.

                  (tt)     Participant. A person participating in the Plan in
         accordance with the provisions of Article III.

                  (uu)     Plan. J. Alexander's Corporation Employee Stock
         Ownership Plan, as set forth herein and amended from time to time.

                  (vv)     Plan Year. The twelve-month period from January 1
         through December 31.

                  (ww)     Qualified Participant. A participant who has attained
         age 55 and has completed ten (10) years of participation in the plan
         subsequent to December 31, 1991, and who is entitled to elect to
         receive a pre-retirement distribution from his Account pursuant to
         Section 6.13.

                  (xx)     Savings Incentive Plan. J. Alexander's Corporation
         Savings Incentive and Salary Deferral Plan, a profit sharing and 401(k)
         plan originally established effective January 1, 1985, as amended from
         time to time.

                                       13
<PAGE>

                  (yy)     Section 415 Compensation. The total "wages" paid for
         employment by the Employer (and all Affiliated Companies) to or for the
         benefit of a Participant during the Plan Year (as shown on the Form W-2
         filed for federal income tax purposes). For purposes of this
         determination, "wages" shall mean wages as defined in withholding at
         the source, and all other payments of compensation to the Employee by
         the Employer for which the Employer is required to furnish the Employee
         a written statement under Sections 6041(d) and 6051(a)(3) of the Code,
         but determined without regard to any rules that limit the remuneration
         included in wages based on the nature or location of the employment or
         the services performed, and excluding from wages amounts paid or
         reimbursed by the Employer for moving expenses incurred by an Employee
         to the extent that at the time of the payment it is reasonable to
         believe that these amounts are deductible by the Employee under Section
         217 of the Code. Effective as of January 1, 1998, Section 415
         Compensation shall include salary reductions or elective deferrals, as
         defined in Section 402(g)(3) of the Code, under the Savings Incentive
         Plan or any other plan pursuant to Section 401(k) of the Code and any
         amount which is contributed or deferred by the Employer at the election
         of the Employee and which is not includible in the gross income of the
         Employee by reason of Section 125 or 457 of the Code (including
         elective contributions to the Flexible Benefit Plan). Effective on
         January 1, 2001, Section 415 Compensation shall also include elective
         amounts that are not includible in the gross income of the Employee
         under Section 132(f)(4) of the Code.

                  (zz)     Stock Purchase Account. The single account for the
         Plan which shall be credited with cash contributions by the Employer
         made for the purpose of purchasing Company Stock and which shall be
         debited when Company Stock is purchased.

                  (aaa)    Top-Heavy Plan. The meaning given that term by
         Section 416(g) of the Code, as described with particularity in Article
         XIII.

                  (bbb)    Top-Heavy Plan Year. Any Plan Year for which the Plan
         is a Top-Heavy Plan.

                  (ccc)    Trust. The fund known as the J. Alexander's
         Corporation Employee Stock Ownership Trust, maintained in accordance
         with the terms of the Trust Agreement, as from time to time amended,
         which constitutes a part of this Plan.

                  (ddd)    Trustee. The corporation, individual or individuals
         appointed by the Board of Directors of the Company to administer the
         Trust.

                  (eee)    Valuation Date. The last day of each Plan Year or the
         date on which a special valuation is made pursuant to Section 6.14.

                  (fff)    Year of Eligibility Service. A twelve
         consecutive-month period in which an Employee has completed 1,000 Hours
         of Service. The initial computation period shall be measured from the
         date employment commenced and subsequent computation periods

                                       14
<PAGE>

         shall be based on the Plan Year beginning with the Plan Year which
         includes the first anniversary of the date employment commenced.

                  In the case of an Employee who, under the Plan, does not have
         any nonforfeitable right to an accrued benefit, Years of Eligibility
         Service before any period of consecutive one-year Breaks in Service
         shall not be taken into account if the number of consecutive Breaks in
         Service equals or exceeds the greater of five (5) or the number of such
         Years of Eligibility Service prior to the period of consecutive Breaks
         in Service.

                  Years of Eligibility Service prior to January 1, 1992 shall be
         taken into account.

                  (ggg)    Year of Vesting Service. A Plan Year in which an
         Employee has completed 1,000 Hours of Service, except:

                           (1)      In the case of any Employee who has five
                  consecutive one-year Breaks in Service, Years of Vesting
                  Service after such consecutive Breaks in Service shall not be
                  taken into account for purposes of determining the
                  nonforfeitable percentage of his Account as it existed prior
                  to the period of consecutive Breaks in Service.

                           (2)      In the case of an Employee who, under the
                  Plan, does not have any nonforfeitable right to an accrued
                  benefit, Years of Vesting Service before any period of
                  consecutive one-year Breaks in Service shall not be taken into
                  account if the number of consecutive Breaks in Service equals
                  or exceeds the greater of five (5) or the number of such Years
                  of Vesting Service prior to the period of consecutive Breaks
                  in Service.

                  Years of Vesting Service prior to January 1, 1987, shall be
         excluded without exception. Years of Vesting Service as of December 31,
         1991 shall be determined based on the number of calendar years
         commencing on January 1, 1987 and anniversaries thereof during which
         the Employee was credited with at least one Hour of Service. Such
         determination shall be made in accordance with paragraphs 1 and 2 of
         this Section 2.1(ggg). For all Employees, regardless of their hire
         date, all Years of Vesting Service commencing on or after January 1,
         1992, shall be determined under the foregoing rules of this Section
         2.1(ggg) excluding this last paragraph.

                                       15
<PAGE>

                                   ARTICLE III

                                  PARTICIPATION

         3.1      Participation. Any Employee shall be eligible to participate
in the Plan upon completing one Year of Eligibility Service and attaining age
twenty-one. An eligible Employee shall become a Participant as of January 1 of
the Plan Year in which he met the requirements, if he met the requirements in
the first six months of the Plan Year, or as of January 1 of the next succeeding
Plan Year, if he met the requirements in the last six months of the Plan Year.
An Employee otherwise entitled to commence participation on the above entry date
shall not commence participation on that date if he terminates his employment
(i) prior to the above entry date, in the case of an Employee who was hired
during the last six months of a Plan Year, or (ii) prior to the first
anniversary date of his employment commencement date, in the case of an Employee
who was hired during the first six months of a Plan Year; but such Employee
shall, if he should be re-employed, be treated in the same manner as a former
Participant pursuant to Section 3.3.

         Notwithstanding the foregoing, no Employee shall become a Participant
unless such Employee shall submit to the Committee, in the manner and form
specified by the Committee, any application for participation in the Plan which
the Committee may require from time to time.

         3.2      Termination of Participation. Participation in the Plan shall
cease upon a termination of employment as an Employee with the Employer.

         3.3      Participation upon Re-Employment. A former Employee who is
re-employed shall be credited with Years of Eligibility Service and Years of
Vesting Service prior to the termination of his employment to the extent
provided in Sections 2.1(fff) and 2.1(ggg).

         A former Employee who is re-employed and whose Years of Eligibility
Service prior to re-employment are excluded pursuant to Section 2.1(fff) shall
be treated as a new Employee and shall not participate until he has satisfied
the conditions for participation pursuant to the requirements of Section 3.1.
Any other former Employee who is re-employed shall become a Participant
effective on the date of re-employment.

         3.4      Agreement to Terms of Plan. Upon becoming a Participant, an
Employee shall be bound by the terms of the Plan and Trust, including all
amendments thereto.

                                       16
<PAGE>

                                   ARTICLE IV
                          CONTRIBUTIONS AND FORFEITURES

         4.1      Employer Contributions. The Employer expects to contribute to
the Plan each year. The amount of such contributions shall be determined
annually by the Employer, and except as hereinafter provided in the event of a
Change of Control, the Employer shall not be required to make such Employer
contributions in any particular year. Unless otherwise designated by the
Employer, Employer contributions shall be conditioned upon the deductibility of
the contribution under Section 404 of the Code. Such contributions shall be
returned to the Employer under the conditions specified in Section 7.1.

         Employer contributions shall be made in cash, shares of Company Stock,
or such other property as the Employer may from time to time determine. The
Employer may direct all or any portion of a cash contribution to the Stock
Purchase Account, which shall be used to purchase Company Stock on or before the
time specified in Section 4.6 for payment of Employer contributions to the
Trust. The Employer may further direct all or any portion of a cash contribution
to the Loan Amortization Account, which shall be used to repay principal and
interest on any Acquisition Loan.

         Upon the occurrence of a Change of Control at a time when an
Acquisition Loan remains outstanding, the Employer shall be immediately
obligated to make an Employer contribution to the Loan Amortization Account for
the Plan Year during which the Change of Control occurs equal to the lesser of
the following sums:

                  (i)      an amount sufficient to enable the Trust to pay the
         entire outstanding principal and interest on the Acquisition Loan, or

                  (ii)     an amount sufficient to enable all Participants to
         receive an allocation for that Plan Year of the maximum Additions to
         their Account permitted pursuant to Section 5.3;

provided, however, that the Company shall have no such obligation if the Board
of Directors nullifies the occurrence of the Change of Control in the manner
provided in Section 2.1(l).

         Any amounts so contributed to the Loan Amortization Account shall be
paid by the Trustee to the holder of the Acquisition Loan and any Financed
Shares which would otherwise be allocated to Participants so as to create an
annual Addition in excess of the limitations of Section 5.3 shall be reallocated
to other Participants in proportion to their Compensation to the extent that
such reallocation does not cause the annual Additions for such other
Participants to exceed the limitations of Section 5.3.

         4.2      Employee Contributions. No Participant shall be required or
permitted to make contributions to the Plan.

                                       17
<PAGE>
         4.3      Forfeitures. [THIS VERSION OF SECTION 4.3 IS EFFECTIVE PRIOR
TO JANUARY 1, 1998].

                  (a)      If a Participant terminates employment for any
         reason, other than normal retirement, early retirement, delayed
         retirement, disability or death, the portion of his Account which is
         not a "vested benefit" as described in Section 6.8 shall be subject to
         becoming a Forfeiture. Such non-vested portion of a Participant's
         Account shall become a Forfeiture at the time provided in Section
         4.3(b) for a cash out of his nonforfeitable benefit.

                  (b)      After termination of employment with Employer and
         with all Affiliated Companies (other than for disability, normal
         retirement, early retirement, delayed retirement, or death), but no
         later than the end of the Plan Year following the Plan Year in which
         such termination occurs, the Participant shall be entitled to receive a
         "cash out" of such Participant's "vested benefit" as determined
         pursuant to Section 6.8 provided that such "vested benefit" is not
         greater than $10,000. Distribution of a vested benefit greater than
         $10,000 shall occur at the time provided in the last paragraph of this
         Section 4.3(b). Such cash out of the vested benefit shall not be made
         in the absence of written consent thereto by the Participant if the
         vested benefit (as determined pursuant to Section 6.8) attributable to
         Employer contributions is greater than $3,500. For the sole purpose of
         determining whether the vested benefit is less than $3,500 or $10,000,
         as the case may be, Company Stock in the Participant's Company Stock
         Sub-Account shall be valued at its market value on the first trading
         date of the Plan Year during which the distribution is scheduled to
         occur. A Participant having a vested benefit of zero shall be deemed to
         have been cashed out hereunder on the date of his termination of
         employment. Upon such a deemed payment, the Participant's nonvested
         Account balance shall become a Forfeiture upon the date of the cash
         out. Such Forfeiture shall then be allocated to the Accounts of other
         Participants as provided in Section 5.2.

                  A Participant having a vested benefit of zero who is deemed to
         receive a cash out upon termination of employment, and who later
         resumes employment covered under the Plan before the last day of the
         Plan Year in which the Participant incurs five (5) consecutive Breaks
         in Service commencing after the deemed distribution, shall have
         restored the Participant's previous balance in his Account at the time
         of the cash out, with no adjustment for Income or other earnings, and
         all Years of Service, whether before or after the cash-out date, shall
         be counted for purposes of determining the Participant's vested
         percentage in the restored Account balance. The number of shares in
         Company Stock restored to his Company Stock Sub-Account shall be the
         number of shares which can be purchased, based on the market value per
         share on the date of the deemed repayment, for a sum equal to the
         market value of the shares in the Participant's Company Stock
         Sub-Account on the date of the deemed cash out.

                  Forfeitures which have become available for allocation during
         the Plan Year in which a deemed repayment occurs shall first be
         allocated to the extent required to restore the Participant's
         previously nonvested Account balance in full, and any remaining

                                       18
<PAGE>

         Forfeitures shall be allocated as provided in Section 5.2. If available
         Forfeitures are insufficient to restore the Participant's previously
         nonvested Account balance, the difference shall be provided by a
         special Employer contribution. The foregoing special contribution and
         allocation of Forfeitures shall not be considered as part of the annual
         Addition for that Participant in connection with the limitations of
         Section 5.3 hereof.

                  If a distribution is not made at the time specified in the
         first paragraph of this Section 4.3(b) because the Participant's vested
         benefit is greater than $10,000, as determined by reference to the
         market value of the Company Stock on the first trading date of the Plan
         Year during which the distribution would have been made if the vested
         benefit had been less than $10,000, the Participant shall be entitled
         to elect to receive a distribution of his vested benefit during the
         third Plan Year following the Plan Year during which he terminated
         employment with Employer and with all Affiliated Companies.

         4.3      Forfeitures. [THIS VERSION OF SECTION 4.3 IS EFFECTIVE AS OF
JANUARY 1, 1998.]

                  (a)      If a Participant terminates employment for any
         reason, other than normal retirement, early retirement, delayed
         retirement, disability or death, the portion of his Account which is
         not a "vested benefit" as described in Section 6.8 shall be subject to
         becoming a Forfeiture. Such non-vested portion of a Participant's
         Account shall become a Forfeiture at the time provided in Section
         4.3(b) for a cash out of his nonforfeitable benefit.

                  (b)      After termination of employment with Employer and
         with all Affiliated Companies (other than for disability, normal
         retirement, early retirement, delayed retirement, or death), but no
         later than the end of the Plan Year following the Plan Year in which
         such termination occurs, the Participant shall be entitled to receive a
         "cashout" of such Participant's "vested benefit" as determined pursuant
         to Section 6.8; provided, however, that corporate officers of the
         Company may receive the cashout referred to in this Section 4.3(b) only
         if such "vested benefit" is not greater than $10,000. Distribution to a
         corporate officer of the Company of a vested benefit greater than
         $10,000 shall occur at the time provided in the last paragraph of this
         Section 4.3(b). Such cash out of the vested benefit shall not be made
         in the absence of written consent thereto by the Participant if the
         vested benefit (as determined pursuant to Section 6.8) attributable to
         Employer contributions is greater than $5,000. For the sole purpose of
         determining whether the vested benefit is less than $5,000 or $10,000,
         as the case may be, Company Stock in the Participant's Company Stock
         Sub-Account shall be valued at its market value on the first trading
         date of the Plan Year during which the distribution is scheduled to
         occur. A Participant having a vested benefit of zero shall be deemed to
         have been cashed out hereunder on the date of his termination of
         employment. Upon such a deemed payment, the Participant's nonvested
         Account balance shall become a Forfeiture upon the date of the cash
         out. Such Forfeiture shall then be allocated to the Accounts of other
         Participants as provided in Section 5.2.

                                       19
<PAGE>

                  A Participant having a vested benefit of zero who is deemed to
         receive a cash out upon termination of employment, and who later
         resumes employment covered under the Plan before the last day of the
         Plan Year in which the Participant incurs five (5) consecutive Breaks
         in Service commencing after the deemed distribution, shall have
         restored the Participant's previous balance in his Account at the time
         of the cash out, with no adjustment for Income or other earnings, and
         all Years of Service, whether before or after the cash-out date, shall
         be counted for purposes of determining the Participant's vested
         percentage in the restored Account balance. The number of shares in
         Company Stock restored to his Company Stock Sub-Account shall be the
         number of shares which can be purchased, based on the market value per
         share on the date of the deemed repayment, for a sum equal to the
         market value of the shares in the Participant's Company Stock
         Sub-Account on the date of the deemed cash out.

                  Forfeitures which have become available for allocation during
         the Plan Year in which a deemed repayment occurs shall first be
         allocated to the extent required to restore the Participant's
         previously nonvested Account balance in full, and any remaining
         Forfeitures shall be allocated as provided in Section 5.2. If available
         Forfeitures are insufficient to restore the Participant's previously
         nonvested Account balance, the difference shall be provided by a
         special Employer contribution. The foregoing special contribution and
         allocation of Forfeitures shall not be considered as part of the annual
         Addition for that Participant in connection with the limitations of
         Section 5.3 hereof.

                  If a distribution is not made at the time specified in the
         first paragraph of this Section 4.3(b) because the Participant is a
         corporate officer of the Company and such Participant's vested benefit
         is greater than $10,000, as determined by reference to the market value
         of the Company Stock on the first trading date of the Plan Year during
         which the distribution would have been made if such Participant's
         vested benefit had been less than $10,000, such Participant shall be
         entitled to elect to receive a distribution of his vested benefit
         during the third Plan Year following the Plan Year during which he
         terminated employment with the Employer and with all Affiliated
         Companies.

         4.4      Employer Top-Heavy Special Contributions. For each Top-Heavy
Plan Year the Employer shall make a special contribution to the Trust as may be
required in an amount sufficient to satisfy the allocation of the Minimum
Benefit to each Non-Key Employee pursuant to Section 5.4.

         4.5      Rollover Contributions. No rollover contributions shall be
permitted.

         4.6      Time of Payment of Employer Contributions. All contributions
by the Employer shall be paid to the Trustee, and payment for each fiscal year
shall be made not later than the date prescribed by law for filing the
Employer's federal income tax return, including extensions which have been
granted for the filing of such return.

                                       20
<PAGE>

         4.7      Acquisition Loans. The Trustee may, with the direction of the
Committee, incur Acquisition Loans from time to time to purchase Financed Shares
of Company Stock for the Trust or to repay a prior Acquisition Loan. The Trustee
shall not enter into any Acquisition Loans without the approval of the Board of
Directors. The following provisions shall apply with respect to any such
Acquisition Loan:

                  (a)      the Acquisition Loan must be at a reasonable rate of
         interest and without recourse against the Trust;

                  (b)      any collateral pledged to the creditor by the Trust
         shall consist only of the Company Stock purchased with the proceeds of
         the loan and Company Stock that was used as collateral for a prior
         Acquisition Loan repaid with the proceeds of the current Acquisition
         Loan (provided, however, that, in addition to such collateral, the
         Company may guarantee or provide collateral for repayment of the loan);

                  (c)      under the terms of the Acquisition Loan, the creditor
         shall not have any right to assets of the Trust other than (1)
         collateral given for the loan, (2) Employer contributions to the Loan
         Amortization Account, and (3) amounts earned on such collateral and on
         the investment of contributions to the Loan Amortization Account;

                  (d)      upon the payment of any portion of the balance due on
         the Acquisition Loan, the Company Stock originally pledged as
         collateral for such repaid portion shall be released from the
         encumbrance and allocated as provided in Section 5.2(e);

                  (e)      the Acquisition Loan must be for a specific term and
         may not be payable at the demand of any person except in the case of
         default;

                  (f)      in the event of default on the Acquisition Loan, the
         value of the Plan assets transferred in satisfaction of the loan must
         not exceed the amount of default. If the lender is a "disqualified
         person", as defined in Section 4975(e)(2) of the Code, the Acquisition
         Loan must provide for a transfer of Plan assets upon default only upon
         and to the extent of the failure of the Plan to meet the payment
         schedule of the loan; and

                  (g)      the proceeds of the Acquisition Loan must be used
         within a reasonable time after their receipt to acquire Company Stock.
         Financed Shares shall be initially credited to the Loan Suspense
         Account and shall be transferred for allocation to the Company Stock
         Sub-Accounts of Participants only as payments of principal and interest
         are made on the Acquisition Loan by the Trustee, as provided in Section
         5.2(e).

                                       21
<PAGE>

                                   ARTICLE V
                      ALLOCATIONS TO PARTICIPANT'S ACCOUNTS

         5.1      Individual Accounts. The Administrator shall create and
maintain adequate records to disclose the interest in the Trust of each
Participant, Former Participant, and Beneficiary. The maintenance of individual
accounts is only for accounting purposes, and a segregation of the assets of the
Trust to each Account shall not be required.

         5.2      Account Adjustments. The Accounts of Participants and Former
Participants shall be adjusted in accordance with the following:

                  (a)      Forfeitures and Employer Contributions. As of the
         last day of each Plan Year, the Account of each Participant who is an
         Employee on the last day of such Plan Year shall be credited with his
         share (as determined below) of the contributions (which contributions
         shall be combined with any Forfeitures which have become available for
         allocation during such Plan Year) made by the Employer for the Plan
         Year; provided, however, that a Participant who terminated employment
         during such Plan Year by reason of normal retirement, early retirement,
         delayed retirement, disability or death shall not be excluded from
         receiving an allocation of the Employer contribution and Forfeitures.

                  Notwithstanding the foregoing, for any Plan Year in which a
         Change of Control occurs, all Participants who are Employees on the
         date of the Change of Control shall receive an allocation of the
         Employer contribution and Forfeitures for that Plan Year.

                  Contributions in cash to the Stock Purchase Account or to the
         Loan Amortization Account shall not be allocated to the Accounts of
         Participants, but Company Stock purchased from the Stock Purchase
         Account and Company Stock released from the Loan Suspense Account as a
         result of such contributions shall be allocated to the Company Stock
         Sub-Accounts of Participants as provided in Section 5.2(d)(1). Company
         Stock contributed in kind, purchased from the Stock Purchase Account,
         or released from the Loan Suspense Account shall be allocated as of
         each Valuation Date to such Participants in the proportion that each
         Participant's Compensation for such Plan Year bears to the total
         Compensation of all Participants entitled to share in the contribution.

                  (b)      Stock Purchase Account. A single Stock Purchase
         Account shall be established for Employer contributions in cash
         earmarked for investment in Company Stock. The Stock Purchase Account
         shall be credited at the time of Employer contributions designated for
         such Stock Purchase Account pursuant to Section 4.1. It shall be
         debited at the time and in the amount of purchases of Company Stock
         from such Stock Purchase Account. Any earnings on assets in the Trust
         represented by cash contributions to the Stock Purchase Account prior
         to use of such assets to purchase Company Stock shall be allocated for
         each Plan Year as Income.

                                       22
<PAGE>

                  (c)      Loan Amortization Account. A Loan Amortization
         Account shall be established in the case of an Acquisition Loan to
         purchase Financed Shares of Company Stock pursuant to Section 4.7,
         which Account shall be debited for the repayment by the Trust of the
         Acquisition Loan (including principal and interest) and shall be
         credited with all Employer contributions in cash earmarked to meet the
         obligations of the Trust under the Acquisition Loan, with earnings on
         such contributions, and with cash dividends on Company Stock held in
         the Trust used to repay the Acquisition Loan pursuant to Section
         5.2(g).

                  (d)      Sub-Accounts of Participant's Account. Each
         Participant's Account shall be composed of both a Company Stock
         Sub-Account and a Cash Sub-Account as follows:

                           (1)      The Company Stock Sub-Account of each
                  Participant will be credited (as of the last day of the Plan
                  Year) with his allocated share of Company Stock (including
                  fractional shares) purchased and paid for by the Trust,
                  purchased through the Stock Purchase Account, released from
                  the Loan Suspense Account as hereinafter provided, or
                  contributed in kind by the Employer; with stock dividends on
                  Company Stock held in his Company Stock Sub-Account; and with
                  Forfeitures of Company Stock from the Company Stock
                  Sub-Accounts of terminated Participants. Contributions in kind
                  of Company Stock, Company Stock purchased from the Stock
                  Purchase Account, and Forfeitures of Company Stock shall be
                  allocated among the Company Stock Sub-Accounts of Participants
                  in proportion to Compensation in the ratios described in
                  Section 5.2(a). Company Stock purchased and paid for by the
                  Trust (other than Financed Shares or Company Stock from the
                  Stock Purchase Account) shall be allocated among such Company
                  Stock Sub-Accounts of Participants in the same ratios that the
                  balances of their respective Cash Sub-Accounts bear to each
                  other immediately before such purchase. Financed Shares
                  released from the Loan Suspense Account shall be allocated in
                  the manner provided in Section 5.2(e).

                           Any shares of Company Stock sold by the Trust shall
                  be deemed to come from the Company Stock Sub-Accounts of the
                  Participants on a pro rata basis and shall be debited (as of
                  the last day of the Plan Year) from such Company Stock
                  Sub-Accounts. Any distribution in kind of Company Stock during
                  the Plan Year shall be debited from the Company Stock
                  Sub-Account of the Participant receiving the distribution. The
                  Committee shall maintain adequate records of the aggregate
                  cost basis of Company Stock allocated to each Participant's
                  Company Stock Sub-Account.

                           (2)      The Cash Sub-Account of each Participant
                  shall be credited (or debited) as of the last day of the Plan
                  Year with its share of the Income of the Trust, with the
                  proceeds of any Company Stock in such Participant's Company
                  Stock Sub-Account which is sold, with cash dividends on
                  Company Stock in his

                                       23
<PAGE>

                  Company Stock Sub-Account (or debited with distributions of
                  such dividends) pursuant to Section 5.2(g), and with
                  contributions in cash or property (other than Company Stock)
                  in excess of the total amount thereof allocated to the Loan
                  Amortization Account and to the Stock Purchase Account. The
                  Cash Sub-Account shall be debited for any purchase (other than
                  from the Stock Purchase Account or through an Acquisition
                  Loan) of Company Stock in the same ratios that the balances of
                  the respective Cash Sub-Accounts of the Participants bear to
                  each other immediately before such purchase.

                  (e)      Financed Shares. Company Stock acquired by the Trust
         through an Acquisition Loan ("Financed Shares") shall be held in the
         Loan Suspense Account, and the total number of shares to be allocated
         each Plan Year to the Company Stock Sub-Accounts of Participants shall
         be determined by multiplying the total number of shares purchased with
         the Acquisition Loan (or, in years subsequent to such purchase, the
         number of Financed Shares held in the Loan Suspense Account immediately
         preceding the date of such allocation) by a fraction, the numerator of
         which is the total amount of principal and interest payments made on
         the Acquisition Loan by the Trust for the Plan Year and the denominator
         of which is the sum of the numerator plus the principal and interest
         payments to be made for all future Plan Years on the Acquisition Loan.
         In the discretion of the Committee, the number of shares to be
         allocated shall be determined solely with reference to principal
         payments in the above formula if (1) the loan provides for payments of
         principal and interest at a cumulative rate that is not less rapid at
         any time than level annual payment of such amounts for ten (10) years,
         (2) the disregarded interest is determined to be interest under
         standard loan amortization tables, and (3) the term of the loan does
         not exceed ten (10) years, whether initially or by reason of renewal,
         extension or refinancing of the Acquisition Loan.

                  Financed Shares thus released from the Loan Suspense Account
         shall be allocated to the Company Stock Sub-Accounts of those
         Participants entitled to share in such allocation under Section 5.2(a)
         in the following manner:

                           (1)      First, with respect to Financed Shares
                  released by reason of Employer contributions used to repay the
                  Acquisition Loan, in the manner provided in Section 5.2(a);
                  and

                           (2)      Second, with respect to Financed Shares
                  released by reason of the application of dividends on Company
                  Stock, in accordance with the provisions of Section 5.2(g).

                  If an interim Valuation Date is selected pursuant to Section
         6.14, the foregoing allocation rules shall be applied for the period
         commencing on January 1 of that Plan Year and ending on the interim
         Valuation Date, taking into account only principal and interest paid on
         the Acquisition Loan and Compensation of Participants during that
         period. A similar allocation shall be made for the period commencing on
         the interim

                                       24
<PAGE>

         Valuation Date and ending on December 31 of that Plan Year, taking into
         account only principal and interest paid on the Acquisition Loan and
         Compensation of Participants during that period.

                  (f)      Income. The Income of the Trust for each Plan Year
         shall be allocated to the Cash Sub-Accounts of each Participant and
         Former Participant on the last day of each Plan Year in proportion to
         the Cash Sub-Account balances of such Participants at the beginning of
         the Plan Year (or if all such Cash Sub-Account balances are zero, in
         proportion to the Company Stock Sub-Account balances at the beginning
         of the Plan Year), but after first reducing each such beginning Cash
         Sub-Account balance by the sum of (i) distributions from the Cash
         Sub-Account during the Plan Year and (ii) debits to the Cash
         Sub-Account for purchases of Company Stock as provided in Section
         5.2(d)(2); or if all Cash Sub-Account balances are zero, after first
         reducing each Company Stock Sub-Account by the amount of any charge to
         such Company Stock Sub-Account during the Plan Year. Additionally, an
         allocation of Income shall be made to a Participant's Cash Sub-Account
         on any other Valuation Date specified in Section 2.1(eee).

                  (g)      Dividends on Company Stock. Cash dividends on Company
         Stock shall be allocated in the following manner:

                           (1)      Dividends paid on shares of Company Stock
                  allocated to Participants' Company Stock Sub-Accounts or held
                  in the Loan Suspense Account shall (as required by applicable
                  Acquisition Loan documentation or, if not so required, as
                  determined by the Committee) be used by the Trustee, as
                  directed by the Committee, to repay the balance of an
                  outstanding Acquisition Loan. Any Financed Shares released
                  from the Loan Suspense Account by reason of such dividends
                  shall be allocated in the following manner:

                                    (i)      First, if cash dividends paid with
                           respect to shares allocated to a Participant's
                           Company Stock Sub-Account are used to repay an
                           Acquisition Loan, then Company Stock with a fair
                           market value equal to the amount of such dividends
                           must be allocated to such Participant's Company Stock
                           Sub-Account.

                                    (ii)     Second, if any Financed Shares
                           released by reason of such dividends (whether paid on
                           Company Stock allocated to Company Stock Sub-Accounts
                           or on Company Stock held in the Loan Suspense
                           Account) remain after the allocation described in
                           clause (i), these shares shall be allocated to the
                           Company Stock Sub-Accounts of Participants, pro rata,
                           according to the balance of each Company Stock
                           Sub-Account as of the immediately preceding Valuation
                           Date, reduced in each case by the amount of any
                           charge to said Company Stock Sub-Account since the
                           next preceding Valuation Date.

                                       25
<PAGE>

                           (2)      Except as provided in Section 5.2(g)(1) in
                  the case of dividends used to repay an Acquisition Loan, any
                  cash dividends with respect to shares of Company Stock
                  allocated to Participants' Company Stock Sub-Accounts
                  (including cash dividends described in Section 5.2(g)(3), paid
                  with regard to Company Stock which is distributed during the
                  Plan Year) or held in the Loan Suspense Account shall be
                  allocated among and credited to Cash Sub-Accounts of the
                  Participants; provided, however, that the dividends so
                  allocated (whether paid with respect to Company Stock
                  allocated to Company Stock Sub-Accounts or held in the Loan
                  Suspense Account) shall be allocated among and credited to
                  Cash Sub-Accounts, pro rata, according to the number of shares
                  of Company Stock held in the respective Company Stock
                  Sub-Accounts on the date the dividends are paid. Cash
                  dividends on Company Stock otherwise not yet allocated to the
                  Company Stock Sub-Accounts of Participants shall be allocated
                  for each Plan Year as Income.

                           (3)      No allocation of cash dividends on Company
                  Stock, and no allocation of Financed Shares released from the
                  Loan Suspense Account by reason of such dividends, shall be
                  made to the Account of a Participant for a Plan Year to the
                  extent the Participant receives during that Plan Year a
                  distribution of Company Stock with regard to which the
                  dividends were paid. Any such cash dividends or Financed
                  Shares released from the Loan Suspense Account by reason of
                  such dividends shall be allocated as Income in accordance with
                  Section 5.2(f).

                           (4)      Cash dividends which are distributed to
                  Participants pursuant to Section 6.12 shall be debited from
                  the Cash Sub-Accounts of the distributees, unless such cash
                  dividends are paid directly to Participants by the Company.

         5.3      Maximum Additions. Notwithstanding anything contained herein
to the contrary, the total Additions made to the Account of a Participant for
any Plan Year shall not exceed the lesser of $30,000 (as adjusted from time to
time pursuant to Section 415(d) of the Code) or 25 percent (25%) of the
Participant's Section 415 Compensation for such Plan Year. Effective as of
January 1, 2002, such Additions shall not exceed the lesser of $40,000, as
adjusted from time to time pursuant to Section 415(d) of the Code, or 100
percent (100%) of the Participant's Section 415 Compensation for such Plan Year.

         If, in any year, as the result of the allocation of Forfeitures, a
reasonable error in estimating a Participant's Section 415 Compensation, or
other limited facts and circumstances, the Additions would exceed the limitation
for any Participant, such excess shall be reallocated to eligible Participants
as a Forfeiture for the Plan Year. If such reallocated Additions cause the
limitation to be exceeded for all Participants, such excess shall be held in a
suspense account. The amounts in such suspense account shall be allocated as of
each Valuation Date until the account is exhausted, the allocation to be
analogous to that provided in Section 5.2(a). Income shall not be allocated to
such suspense account. If a suspense account is in existence at any time

                                       26
<PAGE>

during a particular Plan Year, other than the first Plan Year for which the
suspense account is created, all amounts in the suspense account must be
allocated and reallocated to Participants' Accounts (subject to the limitations
of Section 415 of the Code) before any Employer contributions which would
constitute Additions may be made for that Plan Year.

         In addition to this Plan, the Employer maintains the Savings Incentive
Plan with a limitation year corresponding to the Plan Year. If a Participant is
also a participant in the Savings Incentive Plan, the limitation upon the annual
additions which may otherwise be credited to his Savings Incentive Plan account
shall be first reduced by the total Additions for the Plan Year credited to such
Participant's Account under this Plan, and the Additions to this Plan shall not
be reduced by reason of any annual additions to the Savings Incentive Plan.

         5.4      Allocation of Top-Heavy Special Contribution to Provide
Minimum Benefits. For Top-Heavy Plan Years, the Employer contributions made
pursuant to Section 4.1 and the special contribution described in Section 4.4
shall first be allocated to the Account of each Non-Key Employee who has not
terminated employment with the Employer at the end of the Plan Year in an amount
sufficient to provide the Minimum Benefit described by the following test. The
sum of Employer contributions and Forfeitures allocated during the Plan Year to
the Account maintained for each Participant who is a Non-Key Employee shall be
at least as great as a percentage of such Non-Key Employee's Section 415
Compensation. Such percentage shall be equivalent to the highest ratio for a Key
Employee for that Plan Year of

                  (i)      the sum of Employer contributions and Forfeitures
         allocated to the Account of the Key Employee, to

                  (ii)     the Section 415 Compensation of the Key Employee
         (restricted to $150,000 ($200,000 as of January 1, 2002) as adjusted
         from time to time to Section 401(a)(17) of the Code);

provided, however, that the percentage shall not exceed three percent (3%). This
Minimum Benefit shall be provided in every Top-Heavy Plan Year to all
Participants who are Non-Key Employees and who have not terminated employment
with Employer at the end of the Plan Year.

         The provisions of this Section 5.4 shall not apply, and no Employer
special contribution pursuant to Section 4.4 shall be required, for any Non-Key
Employee to the extent that such Non-Key employee is a participant in the
Savings Incentive Plan or another defined contribution plan included with this
Plan in a Required or Permissive Aggregation Group (as those terms are defined
in Section 13.2(c) and (d) and the Employer has provided an allocation of the
minimum benefit applicable to top-heavy plans in such other defined contribution
plan.

                                       27
<PAGE>

                                   ARTICLE VI
                                    BENEFITS

         6.1      Time for Distribution. Distribution of benefits to a
Participant or Beneficiary shall occur at the date specified in whichever is
applicable of paragraphs (a), (b) or (c), subject to the override provisions of
paragraphs (d), (e), (f) and (g) of this Section 6.1:

                  (a)      Retirement. Distribution shall occur no later than
         the end of the 60-day period after the close of the Plan Year in which
         a Participant retires on or after his Early Retirement Date or his
         Normal Retirement Date.

                  (b)      Death or Disability. Distribution shall occur no
         later than the end of the 60-day period after the close of the Plan
         Year in which occurs a Participant's Disability Benefit Date or in
         which a Participant terminates employment with the Employer (or a
         Former Participant's employment with an Affiliated Company) by reason
         of his death.

                  (c)      Other Termination. If the Participant's employment
         with Employer and with all Affiliated Companies is terminated other
         than for disability, normal retirement, early retirement, delayed
         retirement or death, distribution shall occur at the time provided in
         Section 4.3(b) for a "cash out" of such Participant's benefits.

                  (d)      Administrative Extension. In the event that due to
         administrative delays it is not possible for the Committee to calculate
         the value of the benefit to be distributed to a Participant pursuant to
         paragraph (a), (b) or (c) above, then distribution shall be deferred
         until such calculation can be made, but may not be deferred for a
         longer time than is prescribed in applicable regulations under ERISA or
         the Code.

                  (e)      Age 70 1/2. Except for a 5-Percent Owner,
         distribution shall commence not later than the April 1 next following
         the later of the calendar year in which a Participant attains age 70
         1/2 or retires; provided, however, that a Participant who was born
         before July 1, 1928, may elect to have his distribution commence not
         later than the April 1 next following the calendar year in which such
         Participant attains age 70 1/2 whether or not he remains in the employ
         of the Employer. For a 5-Percent Owner, distribution shall commence not
         later than the April 1 next following the calendar year in which such
         Participant attains age 70 1/2 whether or not he remains in the employ
         of the Employer. A Participant receiving distributions pursuant to this
         Section 6.1(e) as of January 1, 1997, who has not retired and who is
         not a 5-Percent Owner, may elect to cease receiving such distributions
         until the April 1 next following the calendar year in which such
         Participant retires.

                  Such distribution of a Participant's benefits shall be made in
         accordance with the following requirements and shall otherwise comply
         with Section 401(a)(9) of the Code and the Treasury Regulations
         thereunder (including Regulation Section 1.401(a)(9)-2). In accordance
         with Section 401(a)(9) of the Code and the Treasury Regulations

                                       28
<PAGE>

         thereunder, for purposes of determining the maximum period over which
         distributions must be made under Section 401(a)(9) of the Code, a
         Participant (or his spouse, if applicable) may elect whether or not
         life expectancy will be recalculated as permitted under Section
         401(a)(9)(D) of the Code; provided, however, that such election must be
         made no later than the first required distribution date under Section
         401(a)(9) of the Code, after which such election shall be irrevocable.
         Absent such an election, life expectancies shall be recalculated.

                  With respect to distributions under this 6.1(e) made for
         calendar years commencing on or after January 1, 2002, the Plan will
         apply the minimum distribution requirements of Section 401(a)(9) of the
         Code in accordance with the Regulations under Section 401(a)(9) that
         were proposed in January 2001, notwithstanding any provision of the
         Plan to the contrary. This amendment shall continue in effect until the
         end of the last calendar year beginning before the effective date of
         final regulations under Section 401(a)(9) of the Code or such other
         date as may be specified in guidance published by the Internal Revenue
         Service.

                  (f)      Option to Delay. Except for a distribution on account
         of a Participant's death, no distribution whose value exceeds $3,500
         (this limit is increased to $5,000 effective on January 1, 1998) shall
         be made prior to the Participant's Normal Retirement Date without the
         written consent of the Participant.

                  (g)      Normal Retirement Date Override. Subject to any
         election described in paragraph (f), distribution to a Participant
         whose termination of employment has occurred shall commence no later
         than 60 days after the end of the Plan Year in which occurs his Normal
         Retirement Date.

The foregoing paragraphs (d), (e), (f) and (g) are applicable notwithstanding
anything to the contrary contained in paragraphs (a), (b) and (c).

         The Plan shall give written notice to a Participant or Beneficiary,
eligible for a distribution of benefits pursuant to this Section 6.1. Such
notice shall be given to an eligible Participant or Beneficiary no less than 30
days but no more than 90 days prior to the proposed date of distribution.
Distribution of such benefits in excess of $3,500 (this limit is increased to
$5,000 effective on January 1, 1998) during this period shall comply with the
requirements of Section 4.3(b). However, if the distribution is one to which
Sections 401(a)(11) and 417 of the Code do not apply, such distribution may
commence less than 30 days after such notice provided that the Committee clearly
informs the Participant or Beneficiary that he has a right to a period of at
least 30 days after receiving such notice to consider the decision of whether or
not to elect a distribution and that the Participant or Beneficiary, after
receiving such notice, affirmatively elects a distribution.

                                       29
<PAGE>

         6.2      Method of Payment. The benefits provided hereunder shall be
payable in one lump sum payment (but allowing for separate distributions of cash
and Company Stock within the same calendar year).

         6.3      Normal Retirement Benefit. Each Participant in the employment
of the Employer on his Normal Retirement Date (and each Former Participant who
on his Normal Retirement Date is employed by an Affiliated Company), shall be
eligible to retire on that date and shall be 100% vested in his Account balance.

         6.4      Early Retirement Benefit. Each Participant in the employment
of the Employer on his Early Retirement Date (and each Former Participant who on
his Early Retirement Date is employed by an Affiliated Company), shall be
eligible to retire on that date and shall be 100% vested in his Account balance.

         6.5      Delayed Retirement Benefit. A Participant who remains in
employment with the Employer (and a Former Participant, with an Affiliated
Company) beyond his Normal Retirement Date shall be eligible to retire on his
Delayed Retirement Date, which shall be the date on which he actually retires,
and he shall be entitled to a benefit of the amount in his Account.

         6.6      Total and Permanent Disability Benefit. Each Participant who
terminates employment with the Employer by reason of his total and permanent
disability (and each Former Participant who terminates employment with an
Affiliated Company by reason of his total and permanent disability) shall, upon
his Disability Benefit Date, be 100% vested in his Account balance.

         6.7      Death Benefit. If a Participant's employment with Employer (or
a Former Participant's employment with an Affiliated Company) is terminated by
death, such Participant shall be 100% vested in his Account balance and such
Account balance shall be payable as a benefit to his Beneficiary as designated
pursuant to Section 6.9. The payment of death benefits to a Beneficiary shall be
made in one lump-sum payment (but allowing separate distributions of cash and
Company Stock within the same calendar year).

         6.8      Vested Benefit. If any Participant's employment with Employer
and with all Affiliated Companies is terminated other than by normal retirement,
early retirement, delayed retirement, disability or death, he shall be entitled
to a "vested benefit" which shall include a percentage of his Account, based on
his Years of Vesting Service, according to the vesting table provided in either
Section 6.8(a) or Section 6.8(b), depending upon whether the Plan is a Top-Heavy
Plan for the Plan Year during which such termination occurs:

                  (a)      Except as provided in Section 6.8(b) and (c) the
         percentage shall be as follows:

                                       30
<PAGE>

<TABLE>
<CAPTION>
                                                               Percentage of
                  Years of Vesting Service                        Account
                  ------------------------                     -------------
<S>                                                                  <C>
                  Less than 5                                        0%
                  5 or more                                        100%
</TABLE>

                  (b)      For a Plan Year for which the Plan is a Top-Heavy
         Plan, the percentage shall be as follows:

<TABLE>
<CAPTION>
                                                               Percentage of
                  Years of Vesting Service                        Account
                  ------------------------                     -------------
<S>                                                                   <C>
                  Fewer than 3                                        0%
                  3 or more                                         100%
</TABLE>

                  (c)      such termination of employment (other than by reason
         of death, disability, normal retirement, early retirement or delayed
         retirement) in any year which is not a Top-Heavy Plan Year, each
         Participant who had three (3) or more Years of Vesting Service at any
         time during a Top-Heavy Plan Year shall be entitled to elect a vested
         benefit determined in accordance with the table in Section 6.8(b). Any
         other Employee who was a Participant during a Top-Heavy Plan Year shall
         be entitled to a vested benefit determined in accordance with the table
         in Section 6.8(a), except that such percentage shall not be less than
         the percentage under the table in Section 6.8(b) which would have
         applied if his termination of employment had occurred on the last day
         of the last Top-Heavy Plan Year prior to his actual termination of
         employment.

                  (d)      The remainder of a Participant's Account which does
         not constitute his vested benefit shall be treated as a Forfeiture at
         the time and in the manner specified pursuant to Sections 4.3 and
         5.2(a).

                  (e)      For purposes of determining whether an Employee is
         entitled to receive any vested benefit under this Article VI, and the
         time of payment of such vested benefit under Section 4.3(c), he shall
         not be deemed to have terminated his employment under the Plan until he
         is no longer employed by any Affiliated Company to which he may have
         been transferred, irrespective of whether he shall have ceased to be
         classified as an Employee following such transfer.

         6.9      Designation of Beneficiary. Subject to the rights of a
surviving spouse described herein, each Participant (or Former Participant) may
from time to time designate a Beneficiary or Beneficiaries to whom his Plan
benefits are to be paid if he dies before receipt of all such benefits. Each
Beneficiary designation, or revocation thereof, shall be in a form prescribed by
the Committee and will be effective only when filed with the Committee. Unless
the conditions which follow for the designation of a Beneficiary other than the
spouse are satisfied, the Beneficiary of a Participant who is married on the
date of his death shall be the surviving spouse, whether or not so designated in
the form, and even if no such form is filed. Designation of a

                                       31
<PAGE>

Beneficiary other than such Participant's spouse for any portion of the benefits
shall be valid only if either

                  (i)      the spouse consents in writing thereto, acknowledging

         the effect of such designation, the particular non-spouse Beneficiary
         and the form of benefit payment;

                  (ii)     the spouse consents in writing thereto, acknowledging
         the effect of such designation and the form of benefit payment, and the
         consent by the spouse expressly permits future changes of Beneficiary
         without further consent by the spouse;

                  (iii)    the Participant, although married at the time of the
         designation, is ultimately not survived by his spouse or is divorced
         from his spouse;

                  (iv)     the surviving spouse cannot be located; or

                  (v)      the Participant and spouse are legally separated as
         evidenced by a court order.

         Spousal consent pursuant to (i) or (ii) shall be witnessed by a notary
public or Plan representative, and shall be irrevocable. If the Participant is
survived by a spouse other than the spouse who consented to designation of
another as Beneficiary, the consent of the former spouse shall be ineffective.
If the Participant has no designation of a Beneficiary in effect at the time of
his death, and is not survived by a spouse, or if the surviving spouse cannot be
located, any Plan benefits shall be payable in the following order of priority:
(a) to the children, including adopted children, of the Participant in equal
shares, per stirpes; or if none survive, (b) to the surviving natural parents of
the Participant, in equal shares; or if neither survives, (c) to the estate of
the Participant.

         6.10     Additional Benefits. Whenever benefits are computed according
to the balance of a Participant's Account on a Valuation Date, and thereafter
additional amounts are allocated to such Participant's Account from
contributions, Forfeitures, Income, dividends or other investment earnings, such
additional amounts shall be paid as additional benefits and shall be payable in
the same manner as the other benefits payable from such Account. If the
allocation of such Income or other investment earnings produces a net loss, the
benefits paid shall be reduced notwithstanding the initial computation of
benefits according to the balance of a Participant's Account on a Valuation
Date.

         6.11     Form of Distribution. Distributions from the Company Stock
Sub-Account shall be made in full shares of Company Stock. Balances representing
fractional shares may be paid in cash. Distributions from the Cash Sub-Account
shall be made in cash; provided, however, that the Participant shall have the
right to elect that the entire amount of his Account be distributed to him in
the form of Company Stock (except for fractional shares). The Committee shall
advise the Participant in writing of his right to elect to receive Company Stock
and of the proposed distribution date at which time, within reasonable limits, a
distribution in cash will be

                                       32
<PAGE>

made from the Cash Sub-Account if the Participant does not elect in writing to
receive Company Stock. Such election by the Participant to receive Company Stock
from his Cash Sub-Account shall be irrevocable and shall be valid only if
received by the Committee at least thirty (30) days prior to the proposed
distribution date. In the event that a distribution of Company Stock is to be
made from the funds in the Participant's Cash Sub-Account, any balance in a
Participant's Cash Sub-Account may be applied to provide whole shares of Company
Stock for distribution at the then fair market value.

         6.12     Distribution of Dividends on Company Stock. The Committee may,
in its sole discretion, distribute to Participants cash dividends received by
the Trust on Company Stock allocated to each such Participant's Company Stock
Sub-Account, provided that such distribution must be made no later than ninety
(90) days after the close of the Plan Year in which such dividends are paid to
the Trust; or such cash dividends may, in the discretion of the Board of
Directors, be paid directly to the Participants instead of to the Trust.

         6.13     Pre-Retirement Distribution Rights. If a Participant has
attained age 55 and has completed 10 years of participation in this Plan
subsequent to December 31, 1991, and thus has become a Qualified Participant,
the Committee shall offer such Qualified Participant during his first "election
period" (as defined below) and successive "election periods" the right to elect
a distribution of a portion of the Company Stock credited to his Account. The
"election period" shall be the first 90 days immediately following the end of
each Plan Year in the "qualified election period". The "qualified election
period" shall commence with the first Plan Year after the Participant becomes a
Qualified Participant and end with the fifth Plan Year thereafter. For example,
a Participant who first becomes a Qualified Participant in the Plan Year ending
December 31, 2001, will first be entitled to elect a distribution in the period
from January 1, 2002 through March 30, 2002. If the Qualified Participant elects
such a distribution, the distribution will be made within 90 days after the end
of that election period. The amount which may be elected for distribution during
the first such "election period" is 25% of the number of shares of Company Stock
then credited to that Qualified Participant's Account. The amount which may be
elected for distribution upon future elections, during successive election
periods, shall be determined by multiplying the number of shares of Company
Stock credited to the Qualified Participant's Account (including shares of
Company Stock which have been previously distributed pursuant to this
subsection) by 25% or, with respect to a Qualified Participant's final election,
50%, reduced by the amount of any prior distributions elected by such
Participant pursuant to this subsection. Notwithstanding the foregoing, if the
fair market value of the Company Stock allocated to the ESOP Account of a
Qualified Participant is less than five hundred dollars ($500.00) as of the
Valuation Date immediately preceding the first day of an election period, then
such Qualified Participant shall not be entitled to elect to receive a
distribution for that election period.

         6.14     Valuation Date. The Valuation Date which shall be the basis
for determining benefits payable to any Participant or Beneficiary shall be the
last Valuation Date preceding the date of the Participant's termination of
employment with the Employer, with additional benefits and Income added (or a
loss subtracted) as of subsequent Valuation Dates preceding the date of

                                       33
<PAGE>

distribution as provided in Section 6.10. At any time the Employer may select an
interim Valuation Date in addition to the regular Valuation Dates (the last day
of each Plan Year), in which case the Employer shall notify the Trustee in
writing within sixty (60) days either preceding or following such interim
Valuation Date. Any such interim Valuation Date shall be selected and applied by
the Employer uniformly to all Participants so as to avoid the prohibited
discrimination described in Section 401(a)(4) of the Code.

         6.15     Direct Rollover. Notwithstanding any provision of the Plan to
the contrary that would otherwise limit a Distributee's election under this
Section 6.15, a Distributee may elect, at the time and in the manner prescribed
by the Committee, to have any portion of an Eligible Rollover Distribution paid
directly to an Eligible Retirement Plan specified by the Distributee in a Direct
Rollover provided that the recipient Eligible Retirement Plan accepts rollover
contributions, and effective for distributions on or after January 1, 2002, in
the case of an eligible governmental plan described in clause (vi) of Section
2.1(y), such governmental plan separately accounts for amounts transferred into
such plan from this Plan. The Plan provisions otherwise applicable to
distributions continue to apply to this Direct Rollover option. The Distributee
shall, in the time and manner prescribed by the Committee, specify the amount to
be directly transferred and the Eligible Retirement Plan to receive the
transfer. Any portion of a distribution which is not transferred shall be
distributed to the Distributee in the form specified in Section 6.11.

                                       34
<PAGE>

                                  ARTICLE VII
                              TRUST; VOTING RIGHTS

         7.1      Assets Held in Trust. All contributions under this Plan shall
be paid to the Trustee and deposited in the Trust. All assets of the Trust,
including investment income, shall be retained for the exclusive benefit of
Participants and Beneficiaries and shall be used to pay benefits to such persons
or to pay administrative expenses of the Plan to the extent not paid by the
Employer. No part of the Trust shall revert to or inure to the benefit of the
Employer, except that upon the Employer's request, a contribution which was made
under a mistake of fact or conditioned upon the deductibility of any
contribution under Section 404 of the Code shall be returned to the Employer
within one (1) year after the payment of the contribution or the disallowance of
the deduction (to the extent disallowed), whichever is applicable.

         The maximum amount that may be returned to the Employer in the case of
a mistake of fact or disallowance of the deduction is the excess of

                  (i)      the amount contributed over, as relevant,

                  (ii)     (A) the amount which would have been contributed had
         no mistake of fact occurred, or

                           (B)      the amount that would have been contributed
                  had the contribution been limited to the amount that is
                  deductible after any disallowance by the Internal Revenue
                  Service.

         Income attributable to the excess contribution may not be returned to
         the Employer, but losses attributable thereto must reduce the amount to
         be so returned. If the withdrawal of the amount attributable to the
         mistaken or nondeductible contribution would cause the balance of the
         Account of any participant to be reduced to less than the balance which
         would have been in the Account had the mistaken or nondeductible amount
         not been contributed, then the amount to be returned to the Employer
         must be limited so as to avoid such reduction.

         7.2      Voting Rights. All Company Stock held in the Trust shall be
voted as hereinafter provided for pass-through voting by Participants or for
direction of voting by the Committee under this Section 7.2 or Section 7.3. Each
Participant, Former Participant and Beneficiary of a deceased Participant shall
be entitled to direct the Trustee as to the exercise of voting rights regarding
any corporate matter which involves the voting of Company Stock then allocated
to his Company Stock Sub-Account. If Participants are entitled to so direct the
Trustee as to the voting of Company Stock allocated to their Company Stock
Sub-Accounts, all such Company Stock as to which instructions have been received
(which may include an instruction to abstain) shall be voted in accordance with
such instructions. The Trustee shall abstain from voting the allocated shares of
Company Stock as to which no written instructions are received.

                                       35
<PAGE>

         The Committee shall provide, or cause to be provided, to each
Participant, Former Participant and Beneficiary of a deceased Participant notice
of any meeting of the shareholders of the Company at which Company Stock is
entitled to be voted. Such notice shall include such information statements as
are required to be sent to shareholders of the Company generally, and the time
and manner for furnishing such notice or information statements shall be in
compliance with both applicable law and the Company's charter and by-laws as
generally applicable to security holders. The Committee shall request written
instructions from each Participant, Former Participant and Beneficiary as to the
voting of the shares of Company Stock allocated to his Company Stock
Sub-Account. The Committee shall tabulate the written instructions received on
or prior to the date established by the Committee and communicated to the
Participants for returning the written instructions and shall instruct the
Trustee as to the voting of the shares of Company Stock represented by such
written instructions.

         In the event that no shares of Company Stock are allocated to the
Company Stock Sub-Accounts on the record date, the Committee shall not be
required to provide notice of the meeting or information statements and the
Trustee shall vote all Company Stock as the Trustee, in his discretion, shall
determine.

         After the first allocation of shares of Company Stock to the Company
Stock Sub-Accounts, the Trustee shall vote any shares of Company Stock in the
Loan Suspense Account in accordance with the instructions of the Committee. The
Committee shall determine its instructions based upon the percentage of shares
of Company Stock to be voted, for and against each issue to be considered at the
meeting, including in the tabulation of such percentages only those shares of
Company Stock allocated to Company Stock Sub-Accounts as to which written
instructions were received from Participants by the Committee.

         7.3      Tender Offer. In the event of any of the following actions by
a third party:

                  (1)      a tender offer or an exchange offer for stock of the
         Company;

                  (2)      a proposal for the merger or consolidation of the
         Company with such third party; or

                  (3)      a proxy solicitation for the purpose of electing
         directors who propose to approve acts described in (1) or (2);

then, except as hereinafter provided under this Section 7.3, the Trustee shall
tender or not tender Company Stock, vote in favor of or against the proposal for
merger or consolidation, or respond to the proxy solicitation for election of
directors, as instructed by the Committee. The Committee shall provide or cause
to be provided to each Participant, Former Participant and Beneficiary of a
deceased Participant any information relevant to the investment decision, as is
provided to stockholders of the Company generally, together with a form for
written instructions as to the shares of Company Stock allocated to the Company
Stock Sub-Account of each Participant, Former Participant and Beneficiary. With
respect to that Company Stock, the

                                       36
<PAGE>

Committee shall instruct the Trustee in accordance with such written
instructions as are received by the Committee on or prior to the date
established by the Committee and communicated to the Participants, Former
Participants and Beneficiaries for returning the written instructions.

         With respect to (i) any Company Stock allocated to the Company Stock
Sub-Accounts as to which the Committee receives no written instructions, and to
(ii) all Company Stock in the Loan Suspense Account or not otherwise allocated
either to the Company Stock Sub-Accounts (herein collectively referred to as
"unallocated shares"), the Committee shall instruct the Trustee either to
tender, to vote in favor of the proposal, or to vote for directors who support
such action, in the same proportion of the total of such unallocated shares as
the number of shares of Company Stock allocated to the Company Stock
Sub-Accounts which are tendered, voted in favor of the proposal, or voted for
directors who support such action, pursuant to written instructions from
Participants, Former Participants and Beneficiaries, bears to the total number
of shares of Company Stock allocated to the Company Stock Sub-Accounts of all
Participants, Former Participants and Beneficiaries. The Committee shall
instruct the Trustee not to tender, or to vote in opposition to the proposal for
merger or consolidation, or to vote in favor of directors who oppose such tender
offer or proposal, in the same proportion of the total of such unallocated
shares as the number of shares of Company Stock allocated to the Company Stock
Sub-Accounts which are not tendered, voted in opposition to the proposal, or
voted for directors who oppose such tender offer or proposal, pursuant to
written instructions or lack of any instructions from Participants, Former
Participants and Beneficiaries, bears to the total number of shares of Company
Stock allocated to the Company Stock Sub-Accounts of all Participants, Former
Participants and Beneficiaries.

         Unless an interim Valuation Date is selected pursuant to Section 6.14,
if no Company Stock has been allocated to the Company Stock Sub-Accounts, then
the Trustee shall tender or not tender all shares of Company Stock, vote in
favor of or against the proposal for merger or consolidation, or vote for or
against directors who support such tender offer or proposal, as the Trustee, in
his discretion, shall determine.

                                       37
<PAGE>

                                  ARTICLE VIII
                                 ADMINISTRATION

         8.1      Allocation of Responsibility Among Fiduciaries for Plan and
Trust Administration. The Fiduciaries shall have only those specific powers,
duties, responsibilities and obligations which are specifically given them under
this Plan or the Trust. Any person or group of persons may serve in more than
one Fiduciary capacity with respect to the Plan. The Committee shall be the
Administrator of the Plan, and shall have the sole responsibility for the
administration of the Plan. The Trustee shall have the responsibility for the
administration of the Trust and the management of the assets held under the
Trust, except as specifically provided in the Trust, and subject to the purpose
of the Plan as described in Article I to invest primarily in Company Stock.

         The Board of Directors may appoint an investment committee and, by
written notice to the Trustee, direct that investment authority as to all or any
portion of the assets of the Trust shall be vested in such investment committee
as a named Fiduciary; and the Trustee shall be subject to the direction of such
committee regarding the investment of such assets within the limitations
provided in the Trust. The Trustee shall not be liable for claims arising as a
result of following the directions of the investment committee, as specifically
provided in the Trust. Each Fiduciary shall be responsible for the proper
exercise of its own powers, duties and responsibilities, but shall not be
responsible for any act or failure to act of another Fiduciary. Named
Fiduciaries with respect to the Plan may designate persons other than named
Fiduciaries to carry out fiduciary responsibilities under the Plan.

         8.2      Appointment of Committee. A Committee consisting of no more
than three persons shall be appointed by and serve at the pleasure of the Board
of Directors. The Board of Directors may name the Company to assume the duties
of the Committee. All usual and reasonable expenses of the Committee shall be
paid by the Employer, or upon the direction of the Committee, shall be paid by
the Trustee out of the Trust. No member of the Committee who is an Employee
shall receive compensation for his services on the Committee.

         8.3      Claims and Review Procedures. The Committee shall establish
reasonable procedures concerning the filing of claims for benefits hereunder,
and shall administer such procedures uniformly. If a claim is wholly or
partially denied, the Committee shall furnish the claimant, within a reasonable
period of time after receipt of the claim by the Committee, a notice of such
denial, setting forth at least the following information in language calculated
to be understood by the claimant:

                  (a)      the specific reason or reasons for the denial;

                  (b)      specific reference to pertinent Plan provisions on
         which the denial is based;

                                       38
<PAGE>

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

                  (d)      an explanation of the claims review procedure in the
         Plan.

         Upon receipt of such a notice of denial, or if such a notice is not
furnished but the claim has not been granted within sixty (60) days of its
filing, the claimant or his duly authorized representative may appeal to the
Committee for a full and fair review.

         In submitting a request for review, the claimant or his duly authorized
representative may request a review upon written application to the Committee,
may review pertinent documents, and may submit comments in writing. Such request
for review must be made within sixty (60) days of the receipt by the claimant of
the notice of denial (or within sixty (60) days of the expiration of the sixty
(60) day period beginning with the date of the filing of the claim, if no such
notice is received during such period).

         The Committee shall respond promptly to a request for review and shall
deliver a written decision which shall include, in a manner calculated to be
understood by the claimant, the decision itself, specific reasons therefor and
specific references to the pertinent Plan provisions on which the decision is
based. The decision shall be made not later than one hundred and twenty (120)
days after receipt of a request for review.

         8.4      Committee Powers and Duties. The Committee shall have all
power and authority (including absolute discretion with respect to the exercise
of that power and authority) necessary, properly advisable, desirable or
convenient for the performance of its duties. In performing its duties, the
Committee shall have discretionary authority to grant or deny benefits under
this Plan. Notwithstanding the foregoing sentence, the Committee shall have no
power to add to, subtract from or modify any of the terms of the Plan, or to
change or add to any benefits provided by the Plan, or to waive or fail to apply
any requirements of eligibility for a benefit under the Plan. Any decision by
the Committee shall be conclusive and binding on all persons subject to the
claims review procedures described in Section 8.3 and subject to judicial review
only where it is shown by clear and convincing evidence that the Committee acted
in an arbitrary and capricious manner. The duties of the Committee shall
include, but not be limited to, the following:

                  (a)      to construe and interpret the Plan, decide all
         questions of eligibility and determine the amount, manner and time of
         payment of any benefits hereunder;

                  (b)      to prescribe procedures to be followed by
         Participants or Beneficiaries in filing applications for benefits;

                  (c)      to appoint or employ individuals to assist in the
         administration of the Plan and any other agents it deems advisable,
         including legal and actuarial counsel;

                                       39
<PAGE>

                  (d)      to formulate written procedures to determine the
         qualified status of domestic relations orders pursuant to Section
         414(p)(6) of the Code and to administer payment of benefits in
         accordance with such orders as are concluded to be qualified;

                  (e)      to determine whether to offer to Participants the
         right to elect a distribution in the form of cash;

                  (f)      to authorize delivery and payment by the Trustee of
         Company Stock and cash under the Plan; and

                  (g)      to compile the instructions from Participants
         regarding the voting of Company Stock as described in Section 7.2 and
         regarding the response to a third party tender offer or other corporate
         transaction described in Section 7.3, and to direct the Trustee in
         accordance with those instructions.

         8.5      Rules and Decisions. 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 Employer, the legal counsel of the Employer, or the Trustee.

         Any decision by the Committee shall be conclusive and binding upon all
persons, subject to the claims review procedure described in Section 8.3 and
subject to judicial review where it is shown by clear and convincing evidence
that the Committee acted in an arbitrary and capricious manner.

         8.6      Committee Procedures. The Committee may act at a meeting or in
writing without a meeting. The Committee may elect one of its members as
chairman, appoint a secretary, who may or may not be a Committee member, and
advise the Trustee of such actions in writing. The Committee may adopt such
by-laws or regulations as it deems desirable for the conduct of its affairs. All
decisions of the Committee shall be made by the vote of the majority including
actions in writing taken without a meeting. A dissenting Committee member who,
within a reasonable time after he has knowledge of any action or failure to act
by the majority, registers his dissent in writing delivered to the other
Committee members, the Employer, and the Trustee, shall not be responsible for
any such action or failure to act.

         8.7      Authorization of Member to Sign Documents. The Committee may
authorize any one or more of its members (or any person or persons, if the
Company is the Committee) to execute any document or documents on behalf of the
Committee. The Committee shall notify the Trustee in writing of such action and
the name or names of the person or persons so designated. The Trustee thereafter
may accept and rely upon any document executed by such member or members as
representing action by the Committee until the Committee shall file with the
Trustee a written revocation of such designation.

                                       40
<PAGE>

         8.8      Duty to Keep Records and File Reports. The Committee shall
keep records and other data as may be necessary for proper administration of the
Plan, including the balance of the Accounts for each Participant. The Committee
shall file or cause to be filed all annual reports, financial and other
statements as may be required by any federal or state statute, agency or
authority within the time prescribed by law or regulation for filing such
documents. The Committee shall furnish such reports, statements and other
documents to Participants and Beneficiaries of the Plan as may be required by
any federal or state statute or regulation.

         8.9      Authorization of Benefit Payments. The Committee shall issue
directions to the Trustee concerning all benefits which are to be paid from the
Trust Fund pursuant to the provisions of the Plan.

         8.10     Application and Forms for Benefits. The Committee may require
a Participant to complete and file with the Committee an application for a
benefit and all other forms approved by the Committee, and to furnish all
pertinent information requested by the Committee. The Committee may rely upon
all such information so furnished it, including the Participant's current
mailing address.

         8.11     Facility of Payment. Whenever, in the Committee's opinion, a
person entitled to receive any payment of a benefit or installment thereof
hereunder is under a legal disability or is incapacitated in any way so as to be
unable to manage his financial affairs, the Committee may direct the Trustee to
make payments to such person or to his legal representative or to a relative or
friend of such person for his benefit, or the Committee may direct the Trustee
to apply the payment for the benefit of such person in such manner as the
Committee considers advisable. Any payment of a benefit or installment thereof
in accordance with the provisions of this Section shall be a complete discharge
to the Trustee of any liability for the making of such payment under the
provisions of the Plan.

         8.12     Indemnification of Committee Members. The Employer shall
indemnify and hold harmless each member of the Committee, and any person signing
documents on behalf of the Committee, against any and all liability, claims,
damages and expense, including fees of individuals appointed pursuant to Section
8.4(c), which the member may incur in administration of the Plan, unless arising
from the gross negligence or willful misconduct of such member. This
indemnification shall be limited to the costs and expenses not covered under any
fiduciary insurance provided by the Employer.

                                       41
<PAGE>

                                   ARTICLE IX
                                  MISCELLANEOUS

         9.1      Nonguarantee of Employment. Nothing contained in this Plan
shall be construed as a contract of employment between the Employer and any
Employee, or as a right of any Employee to be continued in the employment of the
Employer, or as a limitation of the right of the Employer to discharge any of
its Employees, with or without cause.

         9.2      Rights to Trust Assets. No Employee or Beneficiary shall have
any right to, or interest in, any assets of the Trust Fund upon termination of
his employment or otherwise, except as provided in this Plan. All payments of
benefits as provided for in this Plan shall be made solely out of the assets of
the Trust and none of the Fiduciaries shall be personally liable therefor in any
manner.

         9.3      Nonalienation of Benefits. Benefits payable under this Plan
shall not be subject in any manner to anticipation, alienation, execution, or
levy of any kind, either voluntary or involuntary, including any such liability
which is for alimony or other payments for the support of a spouse or former
spouse, or for any other relative of the Participant prior to actually being
received by the person entitled to the benefit under the terms of the Plan; and
any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber,
charge or otherwise dispose of any right to benefits payable hereunder, shall be
void. The Trust shall not in any manner be liable for, or subject to, the debts,
contracts, liabilities, engagements or torts of any person entitled to benefits
thereunder. The foregoing prohibition on alienation of benefits shall not apply
to prevent payments by the Trustee in recognition of the rights of a spouse,
former spouse, child or other dependent of the Participant embodied in a
qualified domestic relations order as defined in Section 206(d)(3) of ERISA and
in Section 414(p)(1) of the Code ("QDRO"). No such QDRO shall require payment of
any form or amount of benefit, or time of payment thereof, except as otherwise
permitted under this Plan; provided, however, that such payment may be required
by the QDRO prior to termination of employment of the Participant at any time
after the Participant attains age 50.

         In the event a Participant's benefits are garnished or attached by
order of any court, or if there are multiple claimants to the same benefits, the
Committee may bring an action for declaratory judgment in a court of competent
jurisdiction to determine the proper recipient of the benefits to be paid by the
Plan. During the pendency of said action, any benefits that become payable may
be paid into the court as they become payable, to be distributed by the court to
the recipient it deems proper.

         9.4      Discontinuance of Employer Contributions. In the event of
permanent discontinuance of contributions to the Plan by the Employer, the
Accounts of all Participants shall, as of the date of such discontinuance,
become nonforfeitable.

         9.5      Single Plan and Trust of Employers. The Plan of each Employer
which adopts this Plan shall be administered as a single Plan, and a single
Trust Fund shall be used for the

                                       42
<PAGE>

investment of all Plan assets and the payment of benefits hereunder. All
Forfeitures subject to allocation during a Plan Year shall be allocated to all
Participants in accordance with Section 5.2(a), and not exclusively to those
Participants who are employees of the Adopting Company which was the employer of
the Former Participant incurring the Forfeiture.

         9.6      Leased Employees. Notwithstanding any other provisions of the
Plan, for purposes of determining the number or identity of Highly Compensated
Employees and for purposes of the pension requirements of Section 414(n)(3) of
the Code, the employees of the Employer shall include "Leased Employees."

         9.7      Applicable Law. The Plan hereby created shall be construed,
administered and governed in all respects in accordance with ERISA and, to the
extent not superseded by federal law, in accordance with the laws of the State
of Tennessee; provided, however, that if any provision is susceptible of more
than one interpretation, such interpretation shall be given thereto as is
consistent with the Plan being a qualified plan within the meaning of the Code.

         9.8      Acquisition by or of Adopting Company. If an Affiliated
Company should adopt this Plan, or if the Company or an Adopting Company should
acquire substantially all the assets of another company or a division thereof,
any employees who are hired by Company or by an Adopting Company as a result of
such acquisition shall become eligible to participate in this Plan in accordance
with Section 3.1, subject to such terms as the Board of Directors may determine
by resolution. The Board of Directors may in its sole discretion treat service
with the previous employer prior to such previous employer's becoming an
Affiliated Company or prior to the acquisition, as the case may be, as service
with the Company to whatever extent it deems advisable for purposes of
determining under this Plan eligibility for participation, vesting, and
eligibility to share in the Employer contributions, or any combination of the
foregoing; provided, however, that all employees of such previous employer who
continue in the employment of Company or of an Adopting Company shall be treated
uniformly; and provided further that the crediting of such prior service shall
not discriminate in favor of Highly Compensated Participants. The Board of
Directors shall determine, by appropriate resolutions, the extent to which such
prior service shall be included in determining hereunder Hours of Service and
Years of Service, and to what extent such inclusion shall be restricted to the
purpose of determining eligibility for participation, vesting, or eligibility to
share in Employer contributions, or any combination thereof. Any Board
resolutions required by this Section 9.8 may be adopted either before or after
the acquisition of assets or adoption of this Plan by the Affiliated Company.
Except to the extent required under ERISA, no such prior service shall be so
included unless appropriate resolutions are adopted by the Board of Directors.

         9.9      No Restrictions on Financed Shares. Except as required by the
securities laws or other applicable laws, no Company Stock originally acquired
as Financed Shares shall be subject to a put, call or other option, or buy-sell,
right of first refusal, or similar arrangement while held by and when
distributed from the Plan, whether or not the Plan is then an employee stock
ownership plan as described in Section 4975(e)(7) of the Code.

                                       43
<PAGE>

         9.10     Qualified Military Service. Effective on October 13, 1996,
with respect to affected Employees who are re-employed on or after December 12,
1994, and notwithstanding any provision of this Plan to the contrary,
contributions, benefits, and service credit with respect to qualified military
service will be provided in accordance with Section 414(u) of the Code.

         9.11     Certain Judgments, Orders, Decrees and Settlements. Effective
for judgments, orders and decrees issued, and settlements entered into, on or
after August 5, 1997, the Plan shall be permitted to offset all or a portion of
a Participant's vested benefit against an amount that the Participant is ordered
or required to pay to the Plan if the order or requirement to pay arises in
connection with:

                  (a)      the Participant's conviction for a crime involving
         the Plan;

                  (b)      a civil judgment (or consent order or decree) entered
         by a court in an action brought in connection with a violation of the
         fiduciary provisions of ERISA; or

                  (c)      a settlement agreement between the Secretary of Labor
         and the Participant in connection with a violation (or alleged
         violation) of the fiduciary provisions of ERISA.

         To be effective, the judgment, order, decree or settlement agreement
establishing such liability must expressly provide that the Participant's vested
benefit under the Plan be offset to satisfy such liability. If the Participant
is married at the time his benefit under the Plan is offset to satisfy the
liability, spousal consent to such offset is required to the extent otherwise
required under this Plan unless the spouse is also required to pay an amount to
the Plan in the judgment, order, decree or settlement or unless the judgment,
order, decree or settlement provides a fifty percent (50%) survivor annuity or
its equivalent to the spouse. The provisions of this Section 9.11 are to be
interpreted in accordance with Section 401(a)(13)(C) of the Code.

                                       44
<PAGE>

                                   ARTICLE X
                        AMENDMENTS AND ACTION BY EMPLOYER

         10.1     Amendments. Each Employer reserves the right to amend its Plan
provided such amendment does not cause any part of the Trust to be used for, or
diverted to, any purpose other than the exclusive benefit of Participants,
Former Participants or their Beneficiaries, except as may be necessary to make
the Plan comply with ERISA. Amendment of the Plan by the Company shall similarly
amend the Plan of each Adopting Company, except that any Adopting Company may
exclude its Plan from such amendment by resolution of its Board of Directors.

         10.2     Limitation on Amendments. No amendment to this Plan shall have
the effect of reducing the amount then credited to the Accounts of any
Participant or of causing the nonforfeitable percentage of the accrued benefit
derived from Employer contributions (determined as of the later of the date such
amendment is adopted, or the date such amendment becomes effective) of any
Participant under the Plan to be less than his nonforfeitable percentage
computed under the Plan without regard to such amendment. For the purposes of
this Section 10.2, a Plan amendment which has the effect of eliminating or
reducing an early retirement benefit or eliminating an optional form of benefit
(as provided in Treasury regulations) with respect to benefits attributable to
service before the amendment shall be treated as reducing the amount credited to
the Accounts of a Participant.

         10.3     Action by Employer. Any action by the Employer may be by
resolution of its Board of Directors, or by any person or persons duly
authorized by resolution of said Board to take such action.

                                       45
<PAGE>

                                   ARTICLE XI
             SUCCESSOR EMPLOYER AND MERGER OR CONSOLIDATION OF PLAN

         11.1     Successor Employer. In the event of the dissolution, merger,
consolidation or reorganization of the Employer, provision may be made by which
the Plan and Trust will be continued by the successor; and, in that event, such
successor shall be substituted for the Employer under the Plan. The substitution
of the successor shall constitute an assumption of Plan liabilities by the
successor and the successor shall have all of the powers, duties and
responsibilities of the Employer under the Plan.

         11.2     Plan Assets. In the event of any merger or consolidation of
the Plan with, or transfer in whole or in part of the assets and liabilities of
the Trust to another trust fund held under, any other plan of deferred
compensation maintained or to be established for the benefit of all or some of
the Participants of this Plan, the assets of the Trust applicable to such
Participants shall be transferred to the other trust fund only if:

                  (a)      each Participant would (if either this Plan or the
         other plan then terminated) 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 before the
         merger, consolidation or transfer (if this Plan had then terminated);

                  (b)      resolutions of the Board of Directors of the Employer
         under this Plan, or of any new or successor employer of the affected
         Participants, shall authorize such transfer of assets; and, in the case
         of the new or successor employer of the affected Participants, its
         resolutions shall include an assumption of liabilities with respect to
         such Participants' inclusion in the new employer's plan; and

                  (c)      such other plan and trust are qualified under
         Sections 401(a) and 501(a) of the Internal Revenue Code.

         The requirement of subparagraph (a) of this Section 11.2 shall be
satisfied, in the case of a spinoff of part of the assets and liabilities of
this Plan, if after the spinoff:

                           (1)      The sum of the account balances for each
                  Participant in the resulting plans equals the account balance
                  of the Participant in the Plan before the spinoff, and

                           (2)      The assets in each of the plans immediately
                  after the spinoff equals the sum of the account balances for
                  all participants in that plan.

                                       46
<PAGE>

                                  ARTICLE XII
                                PLAN TERMINATION

         12.1     Right to Terminate. In accordance with the procedures set
forth in this Article, the Employer may terminate the Plan at any time. In the
event of the dissolution, merger, consolidation or reorganization of the
Employer, the Plan shall terminate and the Trust shall be liquidated unless the
Plan is continued by a successor to the Employer in accordance with Section
11.1, or unless the Employer elects to continue the Trust and make distribution
to the Participants or their beneficiaries at the times and in the manner set
forth in Article VI hereof.

         12.2     Partial Termination. Upon termination of the Plan with respect
to a group of Participants which constitutes a partial termination of the Plan,
the Trustee shall, in accordance with the directions of the Committee, allocate
and segregate for the benefit of the Participants then or theretofore employed
by the Employer with respect to which the Plan is being terminated, the
proportionate interest of such Participants in the Trust. The funds so allocated
and segregated shall be used by the Trustee to pay benefits to or on behalf of
Participants in accordance with Section 12.3.

         12.3     Liquidation of the Trust. Upon termination or partial
termination of the Plan, the Accounts of all Participants affected thereby shall
become fully vested to the extent funded, and the Committee shall direct the
Trustee to distribute the assets remaining in the Trust (after payment of any
expenses properly chargeable thereto) to Participants, Former Participants and
Beneficiaries in proportion to their respective Account balances unless the
Employer elects to continue the Trust as provided in Section 12.1. Any amounts
which may remain unallocated in the suspense account described in Section 5.3
shall be returned to the Employer.

         12.4     Manner of Distribution. To the extent that no discrimination
in value results, any distribution after termination of the Plan may be made, in
whole or in part, in cash, in securities or other assets in kind, as the
Committee, in its discretion, may determine; provided, however, that all
distributions from the Company Stock Sub-Accounts shall be in the form of
Company Stock. All non-cash distributions shall be valued at fair market value
at the date of distribution.

         12.5     Company Stock in Loan Suspense Account. Upon termination of
the Plan or a permanent discontinuance of Employer contributions, any Company
Stock remaining in the Loan Suspense Account shall be first utilized to repay
the outstanding balance of the Acquisition Loan. Any shares of Company Stock
which may remain in the Loan Suspense Account after such repayment shall be
allocated to the Company Stock Sub-Accounts of Participants eligible to share in
the Employer contributions for that Plan Year pursuant to Section 5.2(a), in the
proportion that each such Participant's Compensation for the Plan Year bears to
the total Compensation of all Participants entitled to share in Employer
contributions for that Plan Year.

                                       47
<PAGE>

                                  ARTICLE XIII
                              TOP-HEAVY PROVISIONS

         13.1     Top-Heavy Plan Requirements. For any Top-Heavy Plan Year, the
Plan shall provide the following:

                  (a)      Special vesting requirements of Section 416(b) of the
         Code pursuant to Section 6.8(b) of the Plan;

                  (b)      A Minimum Benefit required by Section 416(c) of the
         Code pursuant to Sections 4.4 and 5.4 of the Plan; and

         13.2     Definitions. In making the determination in Section 13.3, the
following terms, in addition to those set forth in Article II, shall have the
following meanings:

                  (a)      "Aggregation Group" shall mean a Required Aggregation
         Group or a Permissive Aggregation Group.

                  (b)      The "Interest" of each Participant in the Plan is the
         sum of

                           (i)      the Aggregate Account Balance as of the most
                  recent Valuation Date occurring within the twelve (12) month
                  period ending on the Determination Date;

                           (ii)     an adjustment for any contributions actually
                  made after such Valuation Date but before the Determination
                  Date; and

                           (iii)    any distributions to such Participant or his
                  Beneficiary made within the Plan Year that includes the
                  Determination Date or within the four (4) preceding Plan Years
                  (including distributions under a terminated plan which, if it
                  had continued in existence, would be part of a Required
                  Aggregation Group);

         and a similar amount calculated for any defined contribution plan other
         than the Plan.

                  (c)      "Permissive Aggregation Group" shall mean the
         Required Aggregation Group of plans plus any other plan or plans
         designated by the Employer which, when considered as a group with the
         Required Aggregation Group, would continue to satisfy the requirements
         of Sections 401(a)(4) and 410 of the Code.

                  (d)      "Required Aggregation Group" shall mean

                           (i)      each plan of an Affiliated Company in which
                  a key employee is a participant and

                                       48
<PAGE>

                           (ii)     each other plan of an Affiliated Company
                  which enables any plan described in (i) to meet the
                  requirements of Section 401(a)(4) or 410 of the Code.

         13.3     Determination of Top-Heavy Status.

                  (a)      The Plan shall be a Top-Heavy Plan for any Plan Year
         in which, as of the Determination Date, either

                           (i)      the Plan is not part of a Required
                  Aggregation Group and the sum of the Interests of all Key
                  Employees in the Plan exceeds sixty percent (60%) of the sum
                  of the Interests of all Participants (including for this
                  purpose any individual who was a Participant during the five
                  year period ending on the Determination Date), unless the Plan
                  is part of a Permissive Aggregation Group which is not a
                  Top-Heavy Group, or

                           (ii)     the Plan is part of a Required Aggregation
                  Group which is a Top-Heavy Group, unless such Required
                  Aggregation Group is itself part of a Permissive Aggregation
                  Group which is not a Top-Heavy Group.

                  (b)      An Aggregation Group is a Top-Heavy Group if the sum
         (as of the Determination Date) of

                           (i)      the present value of the cumulative accrued
                  benefits for key employees (including any part of the accrued
                  benefit distributed in the five year period ending on the
                  Determination Date) under all defined benefit plans included
                  in the group, and

                           (ii)     the Interests of key employees under all
                  defined contribution plans included in the group,

         exceeds sixty percent (60%) of a similar sum determined for all
participants in such plans (including for this purpose any individual who was a
participant during the five year period ending on the Determination Date).

                  (c)      In making the determination under this Section 13.3,
         the following rules are applicable:

                           (i)      The Interest or accrued benefit of an
                  individual shall not be taken into account if that individual
                  did not perform any services for the Employer at any time
                  during the five year period ending on the Determination Date.

                           (ii)     If any Non-Key Employee for the Plan Year
                  was a Key Employee in any prior Plan Year, his Interest or
                  accrued benefit shall not be taken into account.

                                       49
<PAGE>

                           (iii)    In an Aggregation Group, the Determination
                  Date for each plan for purposes of the test for a Top-Heavy
                  Group shall be those determination dates that fall within the
                  same calendar year.

                           (iv)     Benefits paid on account of death of a
                  Participant shall be treated as distributions in computing the
                  Interest or accrued benefit of a Participant to the extent
                  that such death benefits do not exceed the Interest or accrued
                  benefit (excluding previous distributions) of the Participant
                  immediately prior to death.

         IN WITNESS WHEREOF, J. Alexander's Corporation, a Tennessee
corporation, has caused this instrument to be executed this 25th day of
February, 2002, and effective as of January 1, 1997 (except for such other dates
as may be noted) by its duly authorized officers.

                               J. ALEXANDER'S CORPORATION

                        By     /s/ J. Michael  Moore
                               -------------------------------------------------
                        Title: Vice-President Human Resources and Administration

ATTEST:

Ruth Ann Tidwell

                                       50

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