Document:

exv10w1

 

Exhibit 10.1

DIRECTOR COMPENSATION POLICY

(effective as of January 1, 2007)

     Members of the board of directors (the “Board”) of BioMed Realty Trust, Inc. (the
“Company”) who are not employees of the Company or any of its subsidiaries (each a
“Non-Employee Director”) shall be eligible to receive cash and equity compensation as set
forth in this Director Compensation Policy. The cash compensation and restricted stock grants
described in this Director Compensation Policy shall be paid or be made, as applicable,
automatically and without further action of the Board or its Compensation Committee, to each
Non-Employee Director who may be eligible to receive such cash compensation or restricted stock
unless such Non-Employee Director declines the receipt of such cash compensation or restricted
stock by notice to the Company. This Director Compensation Policy shall remain in effect until it
is revised or rescinded by further action of the Board or its Compensation Committee.

     1. Cash Compensation and Reimbursement of Expenses.

          (a) Annual Fee. Each Non-Employee Director shall be eligible to receive an annual fee
of $25,000 for service on the Board, the Non-Employee Director who regularly chairs the Audit
Committee of the Board shall be eligible to receive an additional annual fee of $15,000, and each
Non-Employee Director who regularly chairs any other committee of the Board shall be eligible to
receive an additional annual fee of $5,000 for each committee chaired. The fees shall be payable
in equal quarterly installments in arrears on or about January 15, April 15, July 15 and October 15
of each year.

          (b) Meeting Stipends.

               (1) Board of Directors. Each Non-Employee Director shall be eligible for an
additional stipend of $1,500 for each Board meeting attended in person and $750 for each
Board meeting attended by telephone.

               (2) Audit Committee. Each Non-Employee Director who serves on the Audit
Committee of the Board shall be eligible for an additional stipend of $1,500 for each
committee meeting attended in person and $500 for each committee meeting attended by
telephone (whether or not the committee meeting is on a day that includes a Board meeting).

               (3) Other Committees. Each Non-Employee Director who serves on a committee of
the Board other than the Audit Committee shall be eligible for an additional stipend of
$1,000 for each committee meeting attended in person and $500 for each committee meeting
attended by telephone (whether or not the committee meeting is on a day that includes a
Board meeting).

          (c) Reimbursement of Expenses. Non-Employee Directors shall be eligible for
reimbursement for reasonable expenses incurred to attend Board and committee meetings.

     2. Equity Compensation. Non-Employee Directors shall be eligible to receive grants of
restricted stock as set forth in the Company’s 2004 Incentive Award Plan (the “2004 Plan”),
which grants shall be subject to the terms and provisions of the 2004 Plan and the execution and
delivery of restricted stock agreements (including all exhibits thereto), in substantially the form
previously approved by the Board, setting forth the vesting schedule applicable to such restricted
stock and such other terms as may be required by the 2004 Plan.EX-10.1

 

Exhibit 10.1

Amended
and Restated ADOPTION AGREEMENT -11/20/06

	1.01	 	PREAMBLE 
	 
	 	 	By the execution of this Adoption Agreement the Plan Sponsor hereby (complete a. or b.)

	 	a.	 	r adopts a new plan as of ___                    [month, day, year]
	 
	 	b.	 	þ amends and restates its existing plan as of November 20,
2006 [month, day, year] which is the Amendment Restatement Date.
	 
	 	 	 	Original Effective Date: September 1, 2005 [month, day, year]
	 
	 	 	 	Pre-409A Grandfathering: r Yes r No (If yes, complete Appendix B,
“Summary of Grandfathered Provisions”)

	1.02	 	 PLAN
	 
	 	 	Plan Name: CA, Inc. Executive Deferred Compensation Plan
	 
	 	 	Plan Year: April 1 – March 31
	 
	1.03	 	PLAN SPONSOR

	 	 	 	 	 
	 

	 	Name:
	 	CA, Inc.
	 

	 	Address:
	 	One CA Plaza, Islandia, NY 11749
	 

	 	Phone # :
	 	631-342-6000
	 

	 	EIN:
	 	13 2847434
	 

	 	Fiscal Yr:
	 	March 31 – April 1
	 

	 	Form of Entity:
	 	Corporation

	 	 	If Plan Sponsor is a Corporation is stock publicly traded?
	 
	 	 	þ Yes          r No
	 
	1.04	 	EMPLOYER
	 
	 	 	The following entities have been authorized by the Plan Sponsor to participate in and have
adopted the Plan:

	 	 	 	 	 
	Entity	 	Publicly Traded Corporation
	 

	 	Yes
	 	No
	CA Think

	 	r
	 	þ
	CA, Inc.

	 	r
	 	þ
	 

	 	r
	 	r
	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 

- 1 -

 

	1.05	 	ADMINISTRATOR
	 
	 	 	The Employer has designated the following to be responsible for the Administration of the
Plan:
	 
	 	 	VP, Compensation, Benefits & HRIS (Lisa Chekimoglou)
	 
	 	 	 

	 	 	 	 	 
	 

	 	Note:
	 	The Administrator is the person or persons designated by the Employer to be
responsible for the administration of the Plan. This is not Fidelity Investments
Institutional Operations Company, Inc. nor any other Fidelity affiliate.

- 2 -

 

	2.01	 	PARTICIPATION

	 	 	 	 	 	 	 	 	 
	 	 	a.	 	x	 	Employees
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	i.
	 	þ
	 	Eligible Employees are selected by
the Employer as identified in
Appendix C which may be periodically
updated by the Employer.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	ii.
	 	r
	 	Eligible Employees are those
employees of the Employer who
satisfy the following criteria:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	b.	 	r	 	Directors
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	i.
	 	r
	 	All Directors are eligible to participate.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	ii.
	 	r
	 	Only Directors selected by the Employer and identified in Appendix C are eligible to
participate.

- 3 -

 

	3.01	 	COMPENSATION
	 
	 	 	For purposes of determining Participant contributions under Article 4 and Employer
contributions under Article 5, Compensation shall be defined in the following manner
[complete a. or b. and c., if applicable]:

	 	 	 	 	 	 	 
	 

	 	a.
	 	þ	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Compensation, for purposes of the April 1, 2006-March 31,
2007 deferral period, shall mean only an employee’s
Annual Performance Bonus (paid in cash) for fiscal 2007,
under the Plan Sponsor’s 2002 Incentive Plan, as amended.
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	b.
	 	r
	 	Compensation as defined in ___
___[insert name of
qualified plan] without regard to the limitation captured
in Section 401(a)(17) of the Code for such Plan Year:
	 
	 	 	 	 	 	 
	 

	 	c.
	 	r
	 	Director Compensation shall have the meaning specified in
Section 2.9 except that:
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	d.
	 	r
	 	Compensation shall, for all Plan purposes, be limited to
$___.

	3.02	 	BONUSES
	 
	 	 	Compensation, as defined in Section 3.01 of the Adoption Agreement, includes the following
type of bonuses:

	 	 	 	 	 
	 	 	Will be treated as Performance
	Type	 	Based Compensation
	 

	 	Yes
	 	No
	Annual Performance Bonus for 

fiscal 2007 under the Plan 

Sponsor’s 2002 Incentive Plan, 

as amended

	 	þ
	 	r
	 

	 	r
	 	r
	 	 	 	 	 

- 4 -

 

	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 
	 

	 	r
	 	r
	 	 	 	 	 

- 5 -

 

	4.01	 	PARTICIPANT CONTRIBUTIONS

	 	a.	 	Amount of Deferrals
	 
	 	 	 	A Participant may elect within the period specified in Section 4.01b of the Adoption
Agreement to defer the following amounts of Compensation (select i. and ii. or iii.):

	 	i.	 	Compensation Other than Bonuses (for each type of remuneration listed,
complete “dollar amount” or “percentage amount,” but not both))

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Dollar Amount	 	 	% Amount	 	 	 	 
	Type of Remuneration	 	Min	 	 	Max	 	 	Min	 	 	Max	 	 	Increment	 
	a.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	b.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	c.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	Note: The increment is required to determine the permissible deferral amounts. For
example, a minimum of 0% and maximum of 20% with a 5% increment would allow an
individual to defer 0%, 5%, 10%, 15% or 20%.
	 
	 	ii.	 	Bonuses (choose one)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Dollar Amount	 	 	% Amount	 	 	 	 
	Type of Bonus	 	Min	 	 	Min	 	 	Min	 	 	Max	 	 	Increment	 
	a. Annual
Performance Bonus
	 	 	 	 	 	 	 	 	 	 	1	%	 	 	90	%	 	 	 	 
	b.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	c.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	iii.	 	Compensation (do not complete if you completed i. and ii.)

	 	 	 	 	 	 	 	 	 	 	 
	Dollar Amount	 	 	% Amount	 	 	 
	Min	 	Max	 	 	Min	 	 	Max	 	 	Increment

	 	iv.	 	Director Compensation

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Dollar Amount	 	 	% Amount	 	 	 
	Type of Compensation	 	Min	 	 	Min	 	 	Min	 	 	Max	 	 	 	 	Increment
	Annual Retainer
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Meeting Fees
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Other:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Other:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

- 6 -

 

	b.	 	Election Period

	 	 	 	 	 
	 
	 	i.	 	Performance Based Compensation
	 
	 	 	 	 
	 
	 	 	 	A special election period
	 
	 	 	 	 
	 

	 	 	 	a.   þ  Does                      b.    r    Does Not
	 
	 	 	 	 
	 

	 	 	 	apply to each eligible type of performance based compensation referenced in Section
3.02 of the Adoption Agreement.
	 
	 	 	 	 
	 

	 	 	 	The special election period, if applicable, will be determined by the Employer.
	 
	 	 	 	 
	 

	 	ii.
	 	Newly Eligible Participants
	 
	 	 	 	 
	 

	 	 	 	An employee who is classified or designated as an Eligible Employee during a Plan
Year
	 
	 	 	 	 
	 

	 	 	 	a.    þ   May                      b.    r    May Not
	 
	 	 	 	 
	 

	 	 	 	elect to defer Compensation otherwise payable during the remainder of the Plan
Year by completing a deferral agreement within the 30 day period beginning on the
date he is eligible to participate in the Plan.

- 7 -

 

	5.01	 	EMPLOYER CONTRIBUTIONS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	a.	 	Matching Contributions
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	i.	 	Amount
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	For each Plan Year, the Employer shall make a Matching Contribution on behalf of
each Participant who defers Compensation for the Plan Year and satisfies the
requirements of Section 5.01(a)(ii) of the Adoption Agreement equal to (Complete
one):
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(A)	 	r	 	_____________ [insert percentage] of the Compensation
the Participant has elected to defer for the Plan Year
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(B)	 	r	 	An amount determined by the Employer in its sole discretion
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(C)	 	r	 	Matching Contributions for each Participant shall be
limited to $__________ and/or __________% of Compensation.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(D)
	 	r
	 	Other:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	ii.	 	Eligibility for Matching Contribution
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	A Participant who defers Compensation for the Plan Year shall receive an allocation
of Matching Contributions determined in accordance with Section 5.01(a)(i) provided
he satisfies the following requirements (complete the ones that are applicable):
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(A)	 	r	 	Is employed on the last day of the Plan Year
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(B)	 	r	 	Completes ________ [insert number] of hours of service during the Plan Year
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(C)	 	r	 	Is selected by the Employer in its sole discretion to receive an allocation of Matching Contributions
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(D)	 	r	 	No requirements
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(E)	 	r	 	Other
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

- 8 -

 

	 	 	 	 	 	 	 	 	 
	 	 	iii.	 	Time of Allocation
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Matching Contributions, if made, shall be treated as allocated [select one]:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(A) o	 	As of the last day of the Plan Year
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(B) o	 	At such times as the Employer shall determine in it sole discretion
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(C) o	 	At the time the Compensation on account of which the Matching
Contribution is being made would otherwise have been paid to the Participant
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(D) o	 	Other:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	b.	 	Other Contributions	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	i.	 	Amount
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	The Employer shall make a contribution on behalf of each Participant who satisfies
the requirements of Section 5.01(b)(ii) equal to [check one]:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(A) o	 	An amount equal to                      [insert number] % of the
Participant’s Compensation
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(B) þ	 	An amount determined by the Employer in its sole discretion
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(C) o	 	Contributions for each Participant shall be limited to $                    
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(D) o	 	Other:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

- 9 -

 

	 	 	 	 	 	 	 	 	 
	 	 	ii.	 	Eligibility for Other Contributions
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Participant shall receive an allocation of other Employer contributions for the
Plan Year if he satisfies the following requirements:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(A) o	 	Describe requirements:                                         
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(B) þ	 	Is selected by the Employer in its sole discretion to receive
an allocation of other Employer contributions
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(C) o	 	No requirements
	 
	 	 	 	 	 	 	 	 
	 	 	iii.	 	Time of Allocation
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Employer contributions, if made, will be allocated:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(A) o	 	As of the last day of the Plan Year
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(B) þ	 	At such time or times as the Employer shall determine in its sole discretion
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(C) o	 	Other:
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

- 10 -

 

	 	 	 	 	 	 	 	 	 	 	 
	6.01	 	DISTRIBUTIONS
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	The timing and form of payment of distributions made from the Participant’s vested Account
shall be made in accordance with the elections made in this Section 6.01 of the Adoption Agreement.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	a.	 	Timing of Distributions
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	All distributions shall commence in accordance with the following (choose one):
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	(i)	 	þ	 	As soon as administratively practicable
	 	 	 	 	(ii)	 	o	 	Monthly on specified day                      (insert day)
	 	 	 	 	(iii)	 	o	 	Annually on specified month and day                      (insert month and day)
	 	 	 	 	(iv)	 	o	 	Calendar quarter on specified day                      (insert day)
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Note:	 	 	 	A six month delay for certain distributions to Key Employees of publicly
traded companies will apply.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	b.	 	In addition to the distributions that will occur under the terms of the Plan
(e.g., upon death or disability or six months from a separation from service),
distributions can occur upon the following Distribution Events (If multiple events are
chosen, the earliest to occur will trigger payment.)

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Lump Sum	 	Installments
	 

	 	 	 	(i)
	 	þ
	 	Specified Date [5 years, 10 years or
15 years from end of deferral
period]
	 	X
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(ii)
	 	o
	 	Specified Age
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(iii)
	 	o
	 	Separation from Service
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(iv)
	 	o
	 	Separation from Service plus 6 months
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(v)
	 	o
	 	Separation from Service plus
___months (not to exceed ___months)
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(vi)
	 	o
	 	Retirement
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(vii)
	 	o
	 	Retirement plus 6 months
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(viii)
	 	o
	 	Retirement plus ___months (not to
exceed ___months)
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(ix)
	 	o
	 	Later of Separation from Service or
Specified Age
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(x)
	 	o
	 	Later of Separation from Service or
Specified Date
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(xi)
	 	o
	 	Later of Retirement or Specified Age
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(xii)
	 	o
	 	Later of Retirement or Specified Date
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(xiii)
	 	o
	 	Disability
	 	                    
	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

- 11 -

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	(xiv)	 	o    Death	 		 	                    	 	___ years to ___ years
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	(xv)
	 	o    Change in Control
	 	
	 	                    
	 	___ years to ___ years
	 	 	 	 	 	 	 	 	 
	 	 	c.	 	Specified Date and Specified Age elections may not commence beyond age                     .
	 
	 	 	 	 	 	 	 	 
	 	 	d.	 	Separation from Service (if this is elected, do not select “Separation from
Service” under b. above)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Separation from Service override
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	þ Shall apply.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Separation from Service override provides that a Participant, whose Separation from
Service occurs before or after Retirement, shall receive the vested amount credited
to his Account as a lump sum payment.
	 
	 	 	 	 	 	 	 	 
	 	 	e.	 	Involuntary Cashouts (Leave blank if not applicable)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	(i) o	 	If the Participant’s vested Account at the time of his
Separation from Service does not exceed $                    
(insert dollar amount) distribution of the vested Account shall
automatically be made in the form of a single lump sum as soon
as administratively practicable but in no event later than 60
days after the Separation of Service.
	 
	 	 	 	 	 	 	 	 
	 	 	f.	 	Retirement
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Retirement shall be defined as a Separation from Service that occurs on or after the
Participant                                                                              
                                                                              
     
                    
                                                                               
                                                                              
                       
                                                                             
    (insert description of requirements)
	 
	 	 	 	 	 	 	 	 
	 	 	g.	 	Redeferrals
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Participant
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	(i) þ
	 	Shall	 	 
	 

	 	 	 	(ii) o
	 	Shall Not	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	be permitted to modify a scheduled distribution date in accordance with Section 9.2 of
the Plan.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Participant shall generally be permitted to elect such modification
one(1) number of times.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	Administratively, allowable distribution events will be modified to reflect all
options necessary to fulfill the redeferrals provision.

- 12 -

 

	 	 	 	 	 	 	 	 	 
	7.01	 	VESTING	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	a.	 	Matching Contributions
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	The Participant’s vested interest in the amount credited to his Account attributable to
Matching Contributions shall be based on the following schedule:

	 	 	 	 	 
	Years of Service	 	 	 	Vesting %
	0

	 	 	 	                    
	1

	 	 	 	                    
	2

	 	 	 	                    
	3

	 	 	 	                    
	4

	 	 	 	                    
	5

	 	 	 	                    
	6

	 	 	 	                    
	7

	 	 	 	                    
	8

	 	 	 	                    
	9

	 	 	 	                    

	 	 	 	 	 	 	 	 	 
	 	 	b.	 	Other Employer Contributions
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	The Participant’s vested interest in the amount credited to his Account attributable to
Employer contributions other than Matching Contributions shall be based on the following
schedule, unless otherwise determined by the Employer:

	 	 	 	 	 	 	 
	Years of Service	 	 	 	Vesting %
	0

	 	 	 	                    

	1

	 	 	 	 	100	%
	2

	 	 	 	                    

	3

	 	 	 	                    

	4

	 	 	 	                    

	5

	 	 	 	                    

	6

	 	 	 	                    

	7

	 	 	 	                    

	8

	 	 	 	                    

	9

	 	 	 	                    

	 	 	 	 	 	 	 	 	 
	 	 	c.	 	Acceleration of Vesting
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	A Participant’s vested interest in his Account will automatically be 100% upon the
occurrence of the following events: (select the ones that are applicable)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	(i)  þ
	 	Death	 	 
	 

	 	 	 	(ii) þ
	 	Disability	 	 
	 

	 	 	 	(iii)þ
	 	Change in Control	 	 
	 

	 	 	 	(iv)o
	 	Eligibility for Retirement	 	 
	 

	 	 	 	(v) o
	 	Other:                                                             	 	 
	 

	 	 	 	 	 	                                                                       	 	 

- 13 -

 

	 	 	 	 	 	 	 	 	 
	 	 	d.	 	Years of Service
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	i.	 	A Participant’s Years of Service shall include all service performed
for the Employer and
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(A) þ
	 	Shall
	 

	 	 	 	 	 	(B) o
	 	Shall Not
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	include service performed for the Related Employer.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	ii.	 	Years of Service shall also include service performed for the following entities:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	iii.	 	Years of Service shall be determined in accordance with: (select one)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(A) o
	 	The elapsed time method in Treas. Reg. Sec. 1.410(a)(7)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(B) o
	 	The general method in DOL Reg. Sec. 2530.200b-1 through b-4
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(C) o
	 	The Participant’s Years of Service credited under
	 

	 	 	 	 	 	 	 	                                                                         
                           
	 

	 	 	 	 	 	 	 	(insert name of plan)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(D) o
	 	Other:
	 

	 	 	 	 	 	 	 	                                                                         
                  
	 

	 	 	 	 	 	 	 	                                                                         
                  
	 

	 	 	 	 	 	 	 	                                                                         
                  

- 14 -

 

	 	 	 	 	 	 	 	 	 
	8.01	 	UNFORESEEABLE EMERGENCY
	 
	 	 	 	 	 	 	 	 
	 	 	A withdrawal due to an Unforeseeable Emergency as defined in Section 2.2:
	 
	 	 	 	 	 	 	 	 
	 

	 	a. þ
	 	Will	 	 	 	 
	 

	 	b. o
	 	Will Not	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	be allowed.

- 15 -

 

	 	 	 	 	 	 	 	 	 
	9.01	 	INVESTMENT DECISIONS
	 
	 	 	 	 	 	 	 	 
	 	 	Investment decisions regarding the hypothetical amounts credited to a Participant’s Account
shall be made by: (select one)
	 
	 	 	 	 	 	 	 	 
	 	 	a. þ	 	The Participant (or his Beneficiary)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	b. o	 	The Employer	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Investment options are set forth in Appendix A.

- 16 -

 

	 	 	 	 	 	 	 	 	 
	10.01	 	GRANTOR TRUST
	 
	 	 	 	 	 	 	 	 
	 	 	The Employer: (select one)
	 
	 	 	 	 	 	 	 	 
	 

	 	a. o
	 	Does	 	 	 	 
	 

	 	b. þ
	 	Does Not	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	intend to establish a grantor trust in connection with the Plan, however it reserves the
right to do so in its discretion.

- 17 -

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	11.01	 	TERMINATION UPON CHANGE IN CONTROL
	 
	 	 	 	 	 	 	 	 
	 	 	The Plan Sponsor
	 
	 	 	 	 	 	 	 	 
	 	 	a. þ	 	Reserves	 	 
	 	 	b. o	 	Does Not Reserve	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	the right to terminate the Plan and distribute all vested amounts credited to Participant
Accounts upon a Change in Control as described in Section 9.7.
	 
	 	 	 	 	 	 	 	 
	11.02	 	CHANGE IN CONTROL
	 
	 	 	 	 	 	 	 	 
	 	 	A Change in Control for Plan purposes includes the following:
	 
	 	 	 	 	 	 	 	 
	 	 	þ	 	A change in the ownership of the Employer	 	 
	 	 	þ	 	A change in the effective control of the Employer	 	 
	 	 	þ	 	A change in the ownership of a substantial portion of the assets of the Employer	 	 

- 18 -

 

	 	 	 	 	 	 	 	 	 
	12.01	 	GOVERNING STATE LAW
	 
	 	 	 	 	 	 	 	 
	 	 	The laws of New York (insert name of state) shall apply in the administration of the
Plan to the extent not preempted by ERISA.

- 19 -

 

APPENDIX A

INVESTMENT OPTIONS

Investment options are those that are available under Company’s 401(k) plan (the CA Savings Harvest
Plan, as amended from time to time (the “401(k) Plan”)), except for CA stock fund. As of the date
hereof, the investment options are listed below but will be updated from time to time as and when
updated for the 401(k) Plan.

	 	 	 	 	 
	Fund Name	 	 	 	Fund Name
	Ø Fidelity Puritan

	 	 	 	Ø Dodge & Cox Stock Fund
	 
	 	 	 	 
	Ø Fidelity Magellan Fund

	 	 	 	Ø American Funds Growth Fund of America
	 
	 	 	 	 
	Ø Fidelity Growth and Income Fund

	 	 	 	Ø Hotchkis & Wiley Mid Cap Value-Class I
	 
	 	 	 	 
	Ø Fidelity Intermediate Bond Fund

	 	 	 	Ø Artisan Mid Cap Fund
	 
	 	 	 	 
	Ø Fidelity Diversified International Fund

	 	 	 	Ø American Beacon Small Cap Value- PA
	 
	 	 	 	 
	Ø Fidelity Retirement Money Market Portfolio

	 	 	 	Ø Fidelity Small Cap Stock
	 
	 	 	 	 
	Ø Spartan US Equity Index Portfolio

	 	 	 	
	 
	 	 	 	 
	 

	 	 	 	
	 
	 	 	 	 
	

	 	 	 	

	 	 	 
	Note:

	 	The Plan may not select a common/collective trust fund or a self-directed brokerage option
as an investment option.

- 20 -

 

CA, INC. EXECUTIVE DEFERRED COMPENSATION

PLAN

June 2005

 

 

TABLE OF CONTENTS

	 	 	 
	PREAMBLE
	 
	 	 
	ARTICLE 1 – GENERAL
	1.1
	 	Plan
	1.2
	 	Effective Dates
	1.3
	 	Grandfathering of Amounts Not Subject to Code Section 409A
	ARTICLE 2 – DEFINITIONS
	2.1
	 	Account
	2.2
	 	Administrator
	2.3
	 	Adoption Agreement
	2.4
	 	Beneficiary
	2.5
	 	Board or Board of Directors
	2.6
	 	Bonus
	2.7
	 	Change in Control
	2.8
	 	Code
	2.9
	 	Compensation
	2.10
	 	Disabled
	2.11
	 	Eligible Employee
	2.12
	 	Employer
	2.13
	 	ERISA
	2.14
	 	Key Employee
	2.15
	 	Participant
	2.16
	 	Plan
	2.17
	 	Plan Sponsor
	2.18
	 	Plan Year
	2.19
	 	Related Employer
	2.20
	 	Retirement
	2.21
	 	Separation from Service
	2.22
	 	Unforeseeable Emergency
	2.23
	 	Valuation Date
	2.24
	 	Years of Service
	 
	 	 
	ARTICLE 3 – PARTICIPATION
	3.1
	 	Participation
	3.2
	 	Termination of Participation

i

 

	 	 	 
	ARTICLE 4 – PARTICIPANT CONTRIBUTIONS
	4.1
	 	Deferral Agreement
	4.2
	 	Amount of Deferral
	4.3
	 	Timing of Election to Defer
	4.4
	 	Election of Payment Schedule and Form of Payment
	 
	 	 
	ARTICLE 5 – EMPLOYER CONTRIBUTIONS
	5.1
	 	Matching Contributions
	5.2
	 	Other Contributions
	 
	 	 
	ARTICLE 6 – ACCOUNTS AND CREDITS
	6.1
	 	Establishment of Account
	6.2
	 	Credits to Account
	 
	 	 
	ARTICLE 7 – INVESTMENT OF CONTRIBUTIONS
	7.1
	 	Investment Options
	7.2
	 	Adjustment of Accounts
	 
	 	 
	ARTICLE 8 – RIGHT TO BENEFITS
	8.1
	 	Vesting
	8.2
	 	Death
	8.3
	 	Disability
	 
	 	 
	ARTICLE 9 – DISTRIBUTION OF BENEFITS
	9.1
	 	Amount of Benefits
	9.2
	 	Method and Timing of Distributions
	9.3
	 	Unforeseeable Emergency
	9.4
	 	Termination Before Retirement
	9.5
	 	Cashouts of Amounts Not Exceeding Stated Limit
	9.6
	 	Key Employees
	9.7
	 	Change in Control

ii

 

	 	 	 
	ARTICLE 10 – AMENDMENT AND TERMINATION
	10.1
	 	Amendment by Employer
	10.2
	 	Retroactive Amendments
	10.3
	 	Plan Termination
	10.4
	 	Distribution Upon Termination of the Plan
	 
	 	 
	ARTICLE 11 – THE TRUST
	11.1
	 	Establishment of Trust
	11.2
	 	Grantor Trust
	11.3
	 	Investment of Trust Funds
	 
	 	 
	ARTICLE 12 – PLAN ADMINISTRATION
	12.1
	 	Powers and Responsibilities of the Administrator
	12.2
	 	Claims and Review Procedures
	12.3
	 	Plan Administrative Costs
	 
	 	 
	ARTICLE 13 – MISCELLANEOUS
	13.1
	 	Unsecured General Creditor of the Employer
	13.2
	 	Employer’s Liability
	13.3
	 	Limitation of Rights
	13.4
	 	Acceleration of Benefits
	13.5
	 	Facility of Payment
	13.6
	 	Notices
	13.7
	 	Tax Withholding
	13.8
	 	Indemnification
	13.9
	 	Governing Law

iii

 

PREAMBLE

The CA, Inc. Executive Deferred Compensation Plan is intended to promote the interests of the Plan
Sponsor and its shareholders by encouraging certain Eligible Employees to remain in the employ of
the Plan Sponsor and its subsidiaries by providing them with a means by which they may request to
defer receipt of a portion of their compensation.

 

 

ARTICLE 1 – GENERAL

	1.1	 	Plan. The Plan will be referred to by the name specified in the Adoption Agreement.
	 
	1.2	 	Effective Dates.

	 	(a)	 	Original Effective Date. The Original Effective Date is the date as
of which the Plan was initially adopted.
	 
	 	(b)	 	Amendment Effective Date. The Amendment Effective Date is the date
specified in the Adoption Agreement as of which the Plan is amended and restated.
	 
	 	(c)	 	Special Effective Date. A Special Effective Date may apply to any
given provision if so specified in Appendix D. A Special Effective Date will control
over the Original Effective Date or Amendment Effective Date, whichever is applicable,
with respect to such provision of the Plan.

	1.3	 	Grandfathering of Amounts Not Subject to Code Section 409A
	 
	 	 	If the Plan Sponsor has elected to treat amounts deferred before January 1, 2005 that are
earned and vested on December 31, 2004 as subject to the provisions of the Plan as in
effect on December 31, 2004, such grandfathered amounts will be separately accounted for
and administered in accordance with the terms of the Plan as in effect on such date, except
as otherwise provided in this Plan document. A summary of the grandfathered provisions is
set forth in Appendix B.

Article 1-1

 

ARTICLE 2 – DEFINITIONS

Pronouns used in the Plan are in the masculine gender but include the feminine gender unless the
context clearly indicates otherwise. Wherever used herein, the following terms have the meanings
set forth below, unless a different meaning is clearly required by the context:

	2.1	 	“Account” means an account established for the purpose of recording amounts credited on
behalf of a Participant and any income, expenses, gains, losses or distributions included
thereon. The Account shall be a bookkeeping entry only and shall be utilized solely as a
device for the measurement and determination of the amounts to be paid to a Participant
pursuant to the Plan.
	 
	2.2	 	“Administrator” means the person or persons designated by the Employer in Section 1.05 of the
Adoption Agreement to be responsible for the administration of the Plan. If no Administrator
is designated in the Adoption Agreement, the Administrator is the Employer.
	 
	2.3	 	“Adoption Agreement” means the agreement adopted by the Plan Sponsor that establishes the
Plan.
	 
	2.4	 	“Beneficiary” means the persons, trusts,
estates or other entities entitled under Section
8.2 to receive benefits under the Plan upon the death of a Participant.
	 
	2.5	 	“Board” or “Board of Directors” means the Board of Directors of the Plan Sponsor.
	 
	2.6	 	“Bonus” means an amount of incentive remuneration payable by the Employer to a Participant.
	 
	2.7	 	“Change in Control” means the occurrence of an event involving the Employer that is described
in Section 9.7.
	 
	2.8	 	“Code” means the Internal Revenue Code of 1986, as amended.
	 
	2.9	 	“Compensation” means the total cash and non-cash remuneration provided to a Participant by
the Employer for services rendered in respect of a Plan Year, whether or not includible in the
gross income of the Participant for Federal income tax purposes, including bonuses but
excluding reimbursements or other expense allowances, fringe benefits (cash and non-cash),
moving expenses, deferred compensation and welfare benefits.

Article 2-1

 

	2.10	 	“Disabled” means a determination by the Administrator that the Participant is either (1)
unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to
last for a continuous period of not less than 12 months, or (2) is, by reason of any medically
determinable physical or mental impairment which can be expected to last for a continuous
period of not less than twelve months, receiving income replacement benefits for a period of
not less than three months under an accident and health plan covering employees of the
Employer.
	 
	2.11	 	“Eligible Employee” means an employee of the Employer who is determined by the Administrator
to be a member of a select group of management or highly compensated employees within the
meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and who satisfies the
requirements in Section 2.01 of the Adoption Agreement.
	 
	2.12	 	“Employer” means the Plan Sponsor and any other entity which is authorized by the Plan
Sponsor to participate in and, in fact, does adopt the Plan.
	 
	2.13	 	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
	 
	2.14	 	“Key Employee” means a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of
the Code.
	 
	2.15	 	“Participant” means an Eligible Employee who commences participation in the Plan in
accordance with Article 3.
	 
	2.16	 	“Plan” means the unfunded plan of deferred compensation set forth herein, including the
Adoption Agreement and any trust agreement, as adopted by the Employer and as amended from
time to time.
	 
	2.17	 	“Plan Sponsor” means the entity specified in the Adoption Agreement.
	 
	2.18	 	“Plan Year” means the period specified in the Adoption Agreement.
	 
	2.19	 	“Related Employer” means the Employer and (a) any corporation that is a member of a
controlled group of corporations as defined in Section 414(b) of the Code that includes the
Employer, (b) any trade or business that is under common control as defined in Section 414(c)
of the Code that includes the Employer, (c) any member of an affiliated service group as
defined in Section 414(m) of the Code that includes the Employer, and (d) any entity required
to be aggregated with the Employer by Section 414(o) of the Code.

Article 2-2

 

	2.20	 	“Retirement” has the meaning specified in 6.01f of the Adoption Agreement.
	 
	2.21	 	“Separation from Service” is a “separation of service” within the meaning of Section 409A of
the Code.
	 
	2.22	 	“Unforeseeable Emergency” means a severe financial hardship of the Participant resulting from
an illness or accident of the Participant, the Participant’s spouse, or the Participant’s
dependent (as defined in Code Section 152(a)); loss of the Participant’s property due to
casualty; or other similar extraordinary and unforeseeable circumstances arising as a result
of events beyond the control of the Participant.
	 
	2.23	 	“Valuation Date” means each business day of the Plan Year and such other date(s) as
designated by the Plan Sponsor.
	 
	2.24	 	“Years of Service” means a one year period for which the Participant receives service credit
in accordance with the provisions of Section 7.01d of the Adoption Agreement.

Article 2-3

 

ARTICLE 3 – PARTICIPATION

	3.1	 	Participation. The Participants in the Plan shall be those “management” or “highly
compensated” employees of the Employer within the meaning of Sections 201(2), 301(a)(3) and
401(a)(1) of ERISA who satisfy the requirements of Section 2.01 of the Adoption Agreement.
	 
	3.2	 	Termination of Participation. A Participant’s participation in the Plan shall cease upon the
distribution to him of his vested Account or upon his death prior to such distribution. In
addition, the Administrator may terminate a Participant’s eligibility to participate in the
Plan but any such termination at the direction of the Administrator shall not take effect
until the first day of the next Plan Year.

Article 3-1

 

ARTICLE 4 – PARTICIPANT CONTRIBUTIONS

	4.1	 	Deferral Agreement. Each Eligible Employee may elect to defer his Compensation within the
meaning of Section 3.01 of the Adoption Agreement by executing in writing or electronically, a
deferral agreement in accordance with rules and procedures established by the Administrator
and the provisions of this Article 4.
	 
	 	 	A new deferral agreement must be timely executed for each Plan Year for which the Eligible
Employee desires to defer Compensation. An Eligible Employee who does not timely execute a
deferral agreement shall be deemed to have elected zero deferrals of Compensation for such
Plan Year.
	 
	 	 	A deferral agreement may be changed or revoked during the period specified by the
Administrator. A deferral agreement becomes irrevocable at the close of the specified
period.
	 
	 	 	An Eligible Employee must have an executed deferral agreement in effect for each year
during which an Employer contribution pursuant to Article 5, if any, may be made on his
behalf.
	 
	4.2	 	Amount of Deferral. An Eligible Employee may elect to defer Compensation in any amount
permitted by Section 4.01a of the Adoption Agreement.
	 
	4.3	 	Timing of Election to Defer. Each Eligible Employee who desires to defer Compensation
otherwise payable in respect of a Plan Year must execute a deferral agreement within the
period preceding the Plan Year specified by the Administrator. Each Eligible Employee who
desires to defer Compensation that is a Bonus must execute a deferral agreement within the
period preceding the Plan Year during which the Bonus is earned that is specified by the
Administrator, except that if the Bonus can be treated as performance based compensation as
described in Code Section 409A(a)(4)(B)(iii), the deferral agreement may be executed within
the period specified by the Administrator, which period, in no event, shall end after the date
which is six months prior to the end of the period during which the Bonus is earned.
	 
	 	 	An employee who is classified or designated as an Eligible Employee during a Plan Year who
is designated as eligible to participate during a Plan Year may elect to defer Compensation
(as specified in Section 3.01 of the Adoption Agreement) otherwise earned in respect of the
remainder of such Plan Year in accordance with the rules of this Section 4.3 by

Article 4-1

 

	 	 	executing a deferral agreement within the thirty (30) day period beginning on the date the
employee is classified or designated as an Eligible Employee, if permitted by Section 2.01
of the Adoption Agreement.
	 
	4.4	 	Election of Payment Schedule and Form of Payment.
	 
	 	 	At the time an Eligible Employee completes a deferral agreement, the Eligible Employee must
elect a time and a form of payment for the Compensation subject to the deferral agreement
from among the options the Administrator has made available for this purpose and which are
specified in 6.01b of the Adoption Agreement.

Article 4-2

 

ARTICLE 5 – EMPLOYER CONTRIBUTIONS

	5.1	 	Matching Contributions. If specified in Section 5.01a of the Adoption Agreement, the
Employer will credit the Participant’s Account with a matching contribution determined in
accordance with the formula specified therein. The matching contribution will be credited to
the Participant’s Account at the time specified therein.
	 
	5.2	 	Other Contributions. If specified in Section 5.01b of the Adoption Agreement, the Employer
will credit the Participant’s Account with a contribution determined in accordance with the
formula or method specified in Section 5.01b of the Adoption Agreement. The contribution will
be credited to the Participant’s Account at the time specified in Section 5.01b(iii) of the
Adoption Agreement.

Article 5-1

 

ARTICLE 6 – ACCOUNTS AND CREDITS

	6.1	 	Establishment of Account. For accounting and computational purposes only, the Administrator
will establish and maintain an Account for each Participant which will reflect the credits
made pursuant to Section 6.2 along with the earnings, expenses, gains and losses allocated
thereto, attributable to the hypothetical investments made with the amounts in the
Participant’s Account as provided in Article 7. The Administrator will establish and maintain
such other records and accounts, as it decides in its discretion to be reasonably required or
appropriate to discharge its duties under the Plan.
	 
	6.2	 	Credits to Account. A Participant’s Account will be credited for each Plan Year with the
amount of his elective deferrals under Section 4.1 at the time the amount subject to the
deferral election would otherwise have been payable to the Participant and the amount of
Employer contributions made on his behalf under Article 5. Such amounts will be credited to
the Participant’s Account at the times specified, respectively, in Sections 5.01a(iii) and
5.01b(iii) of the Adoption Agreement.

Article 6-1

 

ARTICLE 7 – INVESTMENT OF CONTRIBUTIONS

	7.1	 	Investment Options. The amount in a Participant’s Account shall be treated as invested in
the investment options designated for this purpose by the Administrator and set forth in
Appendix A to the Adoption Agreement.
	 
	7.2	 	Adjustment of Accounts. The amount in a Participant’s Account shall be adjusted for
hypothetical investment earnings, expenses, gains or losses in an amount equal to the
earnings, expenses, gains or losses attributable to the investment options selected by the
party designated in Section 9.01 of the Adoption Agreement from among the investment options
provided in Section 7.1. If permitted by Section 9.01 of the Adoption Agreement, a
Participant may, in accordance with rules and procedures established by the Administrator,
select the investments from among the options provided in Section 7.1 to be used for the
purpose of calculating future hypothetical investment adjustments to the Participant’s Account
or to future credits to the Account under Section 6.2 effective as the Valuation Date
coincident with or next following notice to the Administrator. The Account of each
Participant shall be adjusted as of each Valuation Date to reflect: (a) the hypothetical
earnings, expenses, gains and losses described above; (b) amounts credited pursuant to Section
6.2; and (c) payments. In addition, the Account of each Participant may be adjusted for its
allocable share of the hypothetical costs and expenses associated with the maintenance of the
hypothetical investments provided in Section 7.1.

Article 7-1

 

ARTICLE 8 – RIGHT TO BENEFITS

	8.1	 	Vesting. A Participant, at all times, has a 100% nonforfeitable interest in the amounts
credited to his Account attributable to his elective deferrals made in accordance with Section
4.1.
	 
	 	 	A Participant’s right to the amounts credited to his Account attributable to Employer
contributions made in accordance with Article 5 shall be determined in accordance with the
relevant schedule specified in Section 7.01 of the Adoption Agreement.
	 
	8.2	 	Death. The balance or remaining balance credited to a Participant’s vested Account shall be
paid to his estate in a single lump sum payment as soon as practicable following the
Participant’s date of death.
	 
	8.3	 	Disability. The balance or remaining balance credited to a Participant’s vested Account
shall be paid to the Participant in a single lump sum cash payment as soon as practicable
following the date a Participant incurs a Disability as defined in Section 2.11, unless
additional forms of payment have been made available for this purpose in Section 6.01b of the
Adoption Agreement. If additional forms have been made available, payment shall be made at
the time and in the form elected by the Participant in accordance with the provisions of
articles 4 and 6. The Administrator, in its sole discretion, shall determine whether a
Participant has experienced a disability for purposes of this Section 8.3.

Article 8-1

 

ARTICLE 9 – DISTRIBUTION OF BENEFITS

	9.1	 	Amount of Benefits. The vested amount credited to a Participant’s Account as determined
under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits
payable to the Participant under the Plan.
	 
	9.2	 	Method and Timing of Distributions. Except as otherwise provided in this Article 9,
distributions under the Plan shall be made at the time and in the manner specified by the
Participant in accordance with the provisions of Article 4. If permitted by Section 6.01g of
the Adoption Agreement, a Participant may elect, at least twelve months before a scheduled
date of distribution, to delay the payment date for a minimum period of sixty months from the
originally scheduled date of payment and such election may not take effect until at least 12
months after the date on which the election is made. The re-deferral election must be made in
accordance with procedures and rules established by the Administrator. The Participant may,
at the same time the date of payment is deferred, change the form of payment but such change
in the form of payment may not affect an acceleration of payment.
	 
	9.3	 	Unforeseeable Emergency. If permitted by Section 8.01 of the Adoption Agreement, a
Participant may request a distribution due to an Unforeseeable Emergency. The request must be
in writing and must be submitted to the Administrator along with evidence that the
circumstances constitute an Unforeseeable Emergency. The Administrator has the discretion to
require whatever evidence it deems necessary to determine whether a distribution is warranted.
Whether a Participant has incurred an Unforeseeable Emergency will be determined by the
Administrator on the basis of the relevant facts and circumstances in its sole discretion,
but, in no event, will an Unforeseeable Emergency be deemed to exist if the hardship can be
relieved: (a) through reimbursement or compensation by insurance or otherwise, (b) by
liquidation of the Participant’s assets to the extent such liquidation would not itself cause
severe financial hardship, or (c) by cessation of deferrals under the Plan. A distribution
due to an Unforeseeable Emergency must be limited to the amount reasonably necessary to
satisfy the emergency need and may include any amounts necessary to pay any federal, state or
local income taxes reasonably anticipated to result from the distribution. The distribution
will be made in the form of a single lump sum cash payment.

Article 9-1

 

	9.4	 	Termination Before Retirement. If the Employer has elected a Separation from Service
override in accordance with Section 6.01d of the Adoption Agreement, the following provisions
apply. Subject to the provisions in Section 9.6, a Participant who experiences a Separation
from Service before Retirement for any reason other than death shall receive the vested amount
credited to his Account in a single lump sum payment as soon as practicable following such
termination or cessation of service regardless of whether the Participant had made different
elections of time or form of payment as to the vested amounts credited to his Account or
whether the Participant was receiving installment payouts at the time of such termination.
	 
	9.5	 	Cashouts Of Amounts Not Exceeding Stated Limit. If the vested amount credited to the
Participant’s Account does not exceed the limit established for this purpose by the Employer
in Section 6.01e of the Adoption Agreement at the time he separates from service with the
Employer for any reason, the Employer shall distribute such amount to the Participant in a
single lump sum cash payment as soon as practicable following such termination regardless of
whether the Participant had made different elections of time or form of payment as to the
vested amount credited to his Account or whether the Participant was receiving installments at
the time of such termination.
	 
	9.6	 	Key Employees. In no event shall a distribution made to a Key Employee from his Account by
reason of his Separation from Service (other than as a result of such Key Employee’s death or
Disability) occur before the date which is six months after the date of such Separation from
Service with the Employer except in the case of (i) any distribution that occurs in connection
with a Change in Control pursuant to Section 10.3 of this Plan or (ii) a distribution on a
“specified date”, as elected by a Key Employee in accordance with Section 409A of the Code if
specified in Section 6.01b of the Adoption Agreement.
	 
	9.7	 	Change in Control. If the Employer has elected to permit distributions upon a Change in
Control, the following provisions shall apply. A distribution made upon a Change in Control
will be made in the form elected by the Participant in accordance with the procedures
described in Article 4. A Change in Control will occur upon a change in the ownership of the
Employer, a change in the effective control of the Employer or a change in the ownership of a
substantial portion of the assets of the Employer. The Employer, for this purpose, includes
any corporation identified in this Section 9.7.
	 
	 	 	If a Participant continues to make deferrals in accordance with Article 4 after he has
received a distribution due to a Change in Control, the residual amount payable to the
Participant shall be paid at the time and in

Article 9-2

 

	 	 	the form specified in the elections he makes in accordance with Article 4 or upon his Death
or Disability as provided in Article 8.
	 
	 	 	Whether a Change in Control has occurred will be determined by the Administrator in
accordance with the rules and definitions set forth in this Section 9.7. A distribution to
the Participant will be treated as occurring upon a Change in Control if the Plan Sponsor
terminates the Plan and distributes the Participant’s benefits within twelve months of a
Change in Control as provided in Section 10.3.

	 	a)	 	Relevant Corporations. To constitute a Change in Control for purposes of the
Plan, the event must relate to (i) the corporation for whom the Participant is
performing services at the time of the Change in Control, (ii) the corporation that is
liable for the payment of the Participant’s benefits under the Plan (or all
corporations liable if more than one corporation is liable), or (iii) a corporation
that is a majority shareholder of a corporation identified in (i) or (ii), or any
corporation in a chain of corporations in which each corporation is a majority
corporation of another corporation in the chain, ending in a corporation identified in
(i) or (ii). A majority shareholder is defined as a shareholder owning more than
fifty percent (50%) of the total fair market value and voting power of such
corporation.
	 
	 	b)	 	Stock Ownership. Code Section 318(a) applies for purposes of determining
stock ownership. Stock underlying a vested option is considered owned by the
individual who owns the vested option (and the stock underlying an unvested option is
not considered owned by the individual who holds the unvested option). If, however, a
vested option is exercisable for stock that is not substantially vested (as defined by
Treasury Regulation Section 1.83-3(b) and (j)) the stock underlying the option is not
treated as owned by the individual who holds the option. Mutual and cooperative
corporations are treated as having stock for purposes of this Section 9.7.
	 
	 	c)	 	Change in the Ownership of a Corporation. A change in the ownership of a
corporation occurs on the date that any one person or more than one person acting as a
group, acquires ownership of stock of the corporation that, together with stock held
by such person or group, constitutes more than fifty percent (50%) of the total fair
market value or total voting power of the stock of such corporation. If any one
person or more than one person acting as a proxy is considered to own more than fifty
percent (50%) of the total fair market value or total voting power of the stock of a
corporation, the acquisition of additional stock by the same person or persons is not
considered to cause a change in the ownership of the corporation (or to cause a change
in the effective control of the corporation as

Article 9-3

 

	 	 	 	discussed below in Section 9.7(d)). An increase in the percentage of stock owned by
any one person, or persons acting as a group, as a result of a transaction in which
the corporation acquires its stock in exchange for property will be treated as an
acquisition of stock. Section 9.7(c) applies only when there is a transfer of stock
of a corporation (or issuance of stock of a corporation) and stock in such
corporation remains outstanding after the transaction. For purposes of this Section
9.7(c), persons will not be considered to be acting as a group solely because they
purchase or own stock of the same corporation at the same time or as a result of a
public offering. Persons will, however, be considered to be acting as a group if
they are owners of a corporation that enters into a merger, consolidation, purchase
or acquisition of stock, or similar business transaction with the corporation. If a
person, including an entity, owns stock in both corporations that enter into a
merger, consolidation, purchase or acquisition of stock, or similar transaction,
such shareholder is considered to be acting as a group with other shareholders in a
corporation prior to the transaction giving rise to the change and not with respect
to the ownership interest in the other corporation.
	 
	 	d)	 	Change in the effective control of a corporation. A change in the effective
control of a corporation occurs on the date that either (i) any one person, or more
than one person acting as a group, acquires (or has acquired during the twelve month
period ending on the date of the most recent acquisition by such person or persons)
ownership of stock of the corporation possessing thirty-five (35%) or more of the
total voting power of the stock of such corporation, or (ii) a majority of members of
the corporation’s board of directors is replaced during any twelve month period by
directors whose appointment or election is not endorsed by a majority of the members
of the corporation’s board of directors prior to the date of the appointment or
election, provided that for purposes of this paragraph (ii), the term corporation
refers solely to the relevant corporation identified in Section 9.7(a) for which no
other corporation is a majority shareholder for purposes of Section 9.7(a). In the
absence of an event described in Section 9.7(d)(i) or (ii), a change in the effective
control of a corporation will not have occurred. A change in effective control may
also occur in any transaction in which either of the two corporations involved in the
transaction has a change in the ownership of such corporation as described in Section
9.7(c) or a change in the ownership of a substantial portion of the assets of such
corporation as described in Section 9.7(e). If any one person, or more than one
person acting as a group, is considered to effectively control a corporation within
the meaning of this Section 9.7(d), the acquisition of additional control of the
corporation by the same person or persons is not considered to cause a change in the
effective control of the corporation or to cause

Article 9-4

 

	 	 	 	a change in the ownership of the corporation within the meaning of Section 9.7(c).
For purposes of this Section 9.7(d), persons will or will not be considered to be
acting as a group in accordance with rules similar to those set forth in Section
9.7(c) with the following exception. If a person, including an entity, owns stock
in both corporations that enter into a merger, consolidation, purchase or
acquisition of stock, or similar transaction, such shareholder is considered to be
acting as a group with other shareholders in a corporation only with respect to the
ownership in that corporation prior to the transaction giving rise to the change and
not with respect to the ownership interest in the other corporation.
	 
	 	e)	 	Change in the ownership of a substantial portion of a corporation’s assets.
A change in the ownership of a substantial portion of a corporation’s assets occurs on
the date that any one person, or more than one person acting as a group (as determined
in accordance with rules similar to those set forth in Section 9.7(d)), acquires (or
has acquired during the twelve month period ending on the date of the most recent
acquisition by such person or persons) assets from the corporation that have a total
gross fair market value equal to or more than forty percent (40%) of the total gross
fair market value of all of the assets of the corporation immediately prior to such
acquisition or acquisitions. For this purpose, gross fair market value means the
value of the assets of the corporation of the value of the assets being disposed of
determined without regard to any liabilities associated with such assets. There is no
Change in Control event under this Section 9.7(e) when there is a transfer to an
entity that is controlled by the shareholders of the transferring corporation
immediately after the transfer. A transfer of assets by a corporation is not treated
as a change in ownership of such assets if the assets are transferred to (i) a
shareholder of the corporation (immediately before the asset transfer) in exchange for
or with respect to its stock, (ii) an entity, fifty percent (50%) or more of the total
value or voting power of which is owned, directly or indirectly, by the corporation,
(iii) a person, or more than one person acting as a group, that owns, directly or
indirectly, fifty percent (50%) or more of the total value or voting power of all the
outstanding stock of the corporation, or (iv) an entity, at least fifty (50%) of the
total value or voting power of which is owned, directly or indirectly, by a person
described in Section 9.7(e)(iii). For purposes of the foregoing, and except as
otherwise provided, a person’s status is determined immediately after the transfer of
assets.

Article 9-5

 

ARTICLE 10 – AMENDMENT AND TERMINATION

	10.1	 	Amendment by Employer. The Plan Sponsor reserves the right to amend the Plan (for itself and
each Employer) through action of the Compensation and Human Resource Committee of the Board of
Directors (the “Compensation Committee”). Each amendment shall be effective as determined by
the Compensation Committee in its resolution. No amendment can directly or indirectly deprive
any current or former Participant or Beneficiary of all or any portion of his Account which
had accrued prior to the amendment.
	 
	10.2	 	Retroactive Amendments. An amendment made by the Plan Sponsor in accordance with Section
10.1 may be made effective on a date prior to the first day of the Plan Year in which it is
adopted if such amendment is necessary or appropriate to enable the Plan to satisfy the
applicable requirements of the Code or ERISA or to conform the Plan to any change in federal
law or to any regulations or ruling thereunder. Any retroactive amendment by the Plan Sponsor
shall be subject to the provisions of Section 10.1.
	 
	10.3	 	Plan Termination. If specified in 11.01 of the Adoption Agreement, the Plan Sponsor reserves
the right to terminate the Plan and distribute all amounts credited to all Participant
Accounts as soon as administratively feasible, but in no event later than twelve months,
following a Change in Control as determined in accordance with the rules set forth in Section
9.7. In addition, the Plan Sponsor reserves the right to terminate the Plan to the extent
permitted by Code Section 409A, including a termination at any time with respect to any
deferrals made after the effective date of such termination.
	 
	10.4	 	Distribution Upon Termination of the Plan. Except as provided in Section 10.3, the Plan may
not be terminated before the date on which all amounts credited to all Participant Accounts
have been distributed in accordance with Articles 8 and 9.

Article 10-1

 

ARTICLE 11 – THE TRUST

	11.1	 	Establishment of Trust. The Plan Sponsor may but is not required to establish a trust to
hold amounts to which the Employers may contribute from time to time to correspond to some or
all amounts credited to Participants under Section 6.2. If the Plan Sponsor elects to
establish a trust in accordance with Section 10.01 of the Adoption Agreement, the provisions
of Sections 11.2 and 11.3 shall become operative.
	 
	11.2	 	Grantor Trust. Any trust established by the Plan Sponsor shall be between the Plan Sponsor
and a trustee pursuant to a separate written agreement under which assets are held,
administered and managed, subject to the claims of the Employer’s creditors in the event of
the Employer’s insolvency, until paid to the Participant and/or his Beneficiaries specified in
the Plan. The trust is intended to be treated as a grantor trust under the Code, and the
establishment of the trust shall not cause the Participant to realize current income on
amounts contributed thereto. The Plan Sponsor must notify the trustee in the event of a
lawsuit, bankruptcy or insolvency.
	 
	11.3	 	Investment of Trust Funds. Any amounts contributed to the trust shall be invested by the
trustee in accordance with the provisions of the trust and the instructions of the
Administrator. Trust investments need not reflect the hypothetical investments selected by
Participants under Section 7.1 for the purpose of adjusting Accounts and the earnings or
investment results of the trust shall not affect the hypothetical investment adjustments to
Participant Accounts under the Plan.

Article 11-1

 

ARTICLE 12 – PLAN ADMINISTRATION

	12.1	 	Powers and Responsibilities of the Administrator. The Administrator has the full power and
the full responsibility to administer the Plan in all of its details, subject, however, to the
applicable requirements of ERISA. The Administrator’s powers and responsibilities include,
but are not limited to, the following:

	 	(a)	 	To make and enforce such rules and regulations as it deems necessary or
proper for the efficient administration of the Plan;
	 
	 	(b)	 	To interpret the Plan, its interpretation thereof in good faith to be final
and conclusive on all persons claiming benefits under the Plan;
	 
	 	(c)	 	To decide all questions concerning the Plan and the eligibility of any person
to participate in the Plan;
	 
	 	(d)	 	To administer the claims and review procedures specified in Section 12.2;
	 
	 	(e)	 	To compute the amount of benefits which will be payable to any Participant,
former Participant or Beneficiary in accordance with the provisions of the Plan;
	 
	 	(f)	 	To determine the person or persons to whom such benefits will be paid;
	 
	 	(g)	 	To authorize the payment of benefits;
	 
	 	(h)	 	To comply with the reporting and disclosure requirements of Part 1 of
Subtitle B of Title I of ERISA;
	 
	 	(i)	 	To appoint such agents, counsel, accountants, and consultants as may be
required to assist in administering the Plan;
	 
	 	(j)	 	By written instrument, to allocate and delegate its responsibilities,
including the formation of an Administrative Committee to administer the Plan.

Article 12-1

 

	12.2	 	Claims and Review Procedures.

	 	(a)	 	Claims Procedure. If any person believes he is being denied any
rights or benefits under the Plan, such person may file a claim in writing with the
Administrator. If any such claim is wholly or partially denied, the Administrator
will notify such person of its decision in writing. Such notification will contain
(i) specific reasons for the denial, (ii) specific reference to pertinent Plan
provisions, (iii) a description of any additional material or information necessary
for such person to perfect such claim and an explanation of why such material or
information is necessary, and (iv) information as to the steps to be taken if the
person wishes to submit a request for review. Such notification will be given within
90 days after the claim is received by the Administrator (or within 180 days, if
special circumstances require an extension of time for processing the claim, and if
written notice of such extension and circumstances is given to such person within the
initial 90-day period). If such notification is not given within such period, the
claim will be considered denied as of the last day of such period and such person may
request a review of his claim.
	 
	 	(b)	 	Review Procedure. Within 60 days after the date on which a person
receives a written notification of denial of claim (or, if written notification is not
provided, within 60 days of the date denial is considered to have occurred), such
person (or his duly authorized representative) may (i) file a written request with the
Administrator for a review of his denied claim and of pertinent documents and (ii)
submit written issues and comments to the Administrator. The Administrator will
notify such person of its decision in writing. Such notification will be written in a
manner calculated to be understood by such person and will contain specific reasons
for the decision as well as specific references to pertinent Plan provisions. The
decision on review will be made within 60 days after the request for review is
received by the Administrator (or within 120 days, if special circumstances require an
extension of time for processing the request, such as an election by the Administrator
to hold a hearing, and if written notice of such extension and circumstances is given
to such person within the initial 60-day period). If the decision on review is not
made within such period, the claim will be considered denied.

Article 12-2

 

	12.3	 	Plan Administrative Costs. All reasonable costs and expenses (including legal, accounting,
and employee communication fees) incurred by the Administrator in administering the Plan shall
be paid by the Employer.

Article 12-3

 

ARTICLE 13 – MISCELLANEOUS

	13.1	 	Unsecured General Creditor of the Employer. Participants and their Beneficiaries, heirs,
successors and assigns shall have no legal or equitable rights, interests or claims in any
property or assets of any Employer. For purposes of the payment of benefits under the Plan,
any and all of the Employer’s assets shall be, and shall remain, the general, unpledged,
unrestricted assets of the Employer. Each Employer’s obligation under the Plan shall be
merely that of an unfunded and unsecured promise to pay money in the future.
	 
	13.2	 	Employer’s Liability. Each Employer’s liability for the payment of benefits under the Plan
shall be defined only by the Plan and by the deferral agreements entered into between a
Participant and the Employer. An Employer shall have no obligation or liability to a
Participant under the Plan except as provided by the Plan and a deferral agreement or
agreements. An Employer shall have no liability to Participants employed by other Employers.
	 
	13.3	 	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor
the creation of any fund or account, nor the payment of any benefits, will be construed as
giving to the Participant or any other person any legal or equitable right against the
Employer or Administrator, except as provided herein; and in no event will the terms of
employment or service of the Participant be modified or in any way affected hereby.
	 
	13.4	 	Acceleration of Benefits. None of the benefits or rights of a Participant or any Beneficiary
of a Participant shall be subject to the claim of any creditor. In particular, to the fullest
extent permitted by law, all such benefits and rights shall be free from attachment,
garnishment, or any other legal or equitable process available to any creditor of the
Participant and his or her Beneficiary. Neither the Participant nor his or her Beneficiary
shall have the right to alienate, anticipate, commute, pledge, encumber, or assign any of the
payments which he or she may expect to receive, contingently or otherwise, under this Plan,
except the right to designate a Beneficiary to receive death benefits provided hereunder. A
distribution made to comply with Federal conflict of interest requirements shall be permitted,
notwithstanding any elections made by the Participant to the contrary.
	 
	13.5	 	Facility of Payment. If the Administrator determines, on the basis of medical reports or
other evidence satisfactory to the Administrator, that the recipient of any benefit payments
under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity
or other incapacity, the Administrator may direct the Employer to disburse such payments to a
person or institution designated by a court which has jurisdiction over such recipient or a
person or institution otherwise having the legal authority under State law for the care and
control of such recipient. The receipt by such person or institution of any such payments
therefore, and any such payment to the extent thereof, shall discharge

- 4 -

 

	 	 	the liability of the Employer for the payment of benefits hereunder to such recipient.
	 
	13.6	 	Notices. Any notice or other communication in connection with the Plan shall be deemed
delivered in writing if addressed as provided below and if either actually delivered at said
address or, in the case or a letter, 5 business days shall have elapsed after the same shall
have been deposited in the United States mails, first-class postage prepaid and registered or
certified:

	 	(a)	 	If it is sent to the Employer or Administrator, it will be at the address
specified by the Employer; or
	 
	 	(b)	 	In each case at such address as the addressee shall have specified by written
notice delivered in accordance with the foregoing to the addressor’s then effective
notice address.

	13.7	 	Tax Withholding. The Employer shall have the right to deduct from all payments or deferrals
made under the Plan any tax required by law to be withheld. If the Employer concludes that
tax is owing with respect to any deferral or payment hereunder, the Employer shall withhold
such amounts from any payments due the Participant, as permitted by law, or otherwise make
appropriate arrangements with the Participant or his Beneficiary for satisfaction of such
obligation. Tax, for purposes of this Section 13.7 means any federal, state, local or any
other governmental income tax, employment or payroll tax, excise tax, or any other tax or
assessment owing with respect to amounts deferred, any earnings thereon, and any payments made
to Participants under the Plan.
	 
	13.8	 	Indemnification. Each Employer shall indemnify, to the full extent permitted by law, each
employee, officer or director made or threatened to be made a party to any civil or criminal
action or proceeding by reason of the fact that he, or his testator or intestate, is or was
delegated duties, responsibilities, and authority with respect to the Plan.
	 
	13.9	 	Governing Law. The Plan shall be construed, administered and governed in all respects under
and by the laws of the State of New York, without reference to the principles of conflicts of
law (except if and to the extent preempted by applicable Federal law). It is the intent of
the Plan Sponsor that this Plan be considered and interpreted in all respects as part of a
bonus plan within the meaning of U. S. Department of Labor Regulation Section 2510.3-2(c) and
not in any respect as an employee pension plan for purposes of ERISA. If and to the extent
that any portion of this Plan shall be determined to be an employee pension benefit plan
subject to ERISA, then such portion shall be considered a separate plan covering only those
Participants as to whom this Plan is determined to be a pension plan. Such pension plan shall
in all respects be considered and interpreted as a plan which is unfunded and maintained
primarily for the purpose of providing deferred compensation for a select group of management
or highly compensated employees and exempt from coverage of Parts 1, 2, 3 and 4 of Subtitle B
of Title I of ERISA to the maximum extent permissible under the provisions thereof. Further,
it is the intent of the Plan Sponsor that this Plan be considered and interpreted in all
respects as a nonqualified deferred compensation plan

Article 12-5

 

	 	 	satisfying the requirements of Section
409A of the Code and deferring the recognition of income by Participants in respect of amounts
credited to Participant Accounts until amounts are actually paid to them pursuant to the Plan.

Article 12-6

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