Document:

<PAGE>
                                                                               .
                                                                               .
                                                                               .
                                                                   Exhibit 10.18

    SUMMARY OF NAMED EXECUTIVE OFFICER AND DIRECTOR COMPENSATION ARRANGEMENTS

<TABLE>
<CAPTION>
Named Executive Officer                  Annual Base Salary Effective           Cash Bonus Award Payable For 2004
                                         April 1, 2005 Service

<S>                                      <C>                                    <C>
Thomas B. Crowley, Jr.                   $817,680                               $610,685
Chairman of the Board,
President and
Chief Executive Officer

William A. Pennella                      $420,000                               $120,000
Vice Chairman of the Board and
Executive Vice President

William P. Verdon                        $297,000                               $60,000
Senior Vice President
and General Counsel

Albert M. Marucco                        $246,960(1)                            $27,000
Vice President and
Treasurer

Richard L. Swinton                       $192,300                               $23,925
Vice President, Tax &
Audit(2)
</TABLE>

Description of Compensatory Arrangements As to Directors
--------------------------------------------------------

Effective May 1, 2005, each member of the Board of Directors of the Company who
is not an employee of the Company will be entitled to: (a) an annual retainer of
$40,000; (b) a fee of $900 for each Board of Directors' meeting attended in
person; (c) a fee of $650 for each Board of Directors' meeting attended by
conference call; and (d) a fee of $1,500 for each Board of Directors' committee
meeting attended in person or by conference call. The Company also reimburses
each member of the Board of Directors who is not an employee of the Company for
expenses reasonably incurred in attending in person a Board of Directors'
meeting or a Board of Directors' committee meeting.

Directors who are also officers or employees of the Company do not receive any
fees or compensation for service on the Board of Directors or of any committee
thereof

--------------
(1) Mr. Marucco also is entitled to receive in September 2005 a $7,400 lump sum
merit payment.
(2) On January 7, 2005, Richard L. Swinton ceased to perform the functions of
the Company's principal financial officer and principal accounting officer and,
as a result, ceased serving as an executive officer of the Company. However, Mr.
Swinton continues to serve as the Company's Vice President of Tax and Audit.<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                                                   EXHIBIT 10.21

                              CAMBREX CORPORATION

                           ANNUAL REPORT ON FORM 10-K

                          REVISED SCHEDULE OF PARTIES

<Table>
<Caption>
NAME                                                   TITLE                   DATE OF AGREEMENT
----                                                   -----                   -----------------
<S>                                    <C>                                     <C>
Peter E. Thauer......................  Senior Vice President, Law and              08/28/89
                                       Environment, General Counsel and
                                       Corporate Secretary
James A. Mack........................  Executive Chairman of the Board             02/01/90
Steven M. Klosk......................  Executive Vice President,                   10/21/92
                                       Administration
Thomas N. Bird.......................  Vice President, Corporate Development       07/23/99
Luke M. Beshar.......................  Executive Vice President and Chief          12/05/02
                                       Financial Officer
Gary L. Mossman......................  Executive Vice President and Chief          01/23/03
                                       Operating Officer
N. David Eansor......................  President, Bioproducts Business Unit        10/23/03
John R. Leone........................  President and Chief Executive Officer       08/23/04
Edward Robinson......................  Executive Vice President -- Europe,         10/23/03
                                       Pharma and Biopharmaceutical Business
                                       Unit
</Table>EXHIBIT 10.1

 

Exhibit 10.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the
incorporation by reference of our audit report dated March 30, 2005 on
the consolidated financial statements of Alcatel, as of and for the
three years ended December 31,
2004, 2003 and 2002, appearing in the Annual Report on Form 20-F of Alcatel for the fiscal year ended
December 31, 2004 into:

	 	(i)	 	The Form S-8 Registration Statement (File No. 333-7830) for Alcatel Alstom
Compagnie Generale d’Electricite, S.A. (now Alcatel), filed with the Securities and
Exchange Commission (the “SEC”) on October 23, 1997;
	 
	 	(ii)	 	Post-Effective Amendment No. 1 on Form S-8 to Form F-4 Registration Statement
(File No. 333-59985) for Alcatel Alstom Generale d’Electricite, S.A. (now Alcatel),
filed with the SEC on September 8, 1998;
	 
	 	(iii)	 	Form S-8 Registration Statement (File No. 333-9730), filed with the SEC on
December 11, 1998;
	 
	 	(iv)	 	Form S-8 Registration Statement (File No. 333-10192), filed with the SEC on
April 1, 1999;
	 
	 	(v)	 	Form S-8 Registration Statement (File No. 333-10326), filed with the SEC on May
7, 1999;
	 
	 	(vi)	 	Form S-8 Registration Statement (File No. 333-10578), filed with the SEC on
July 13, 1999;
	 
	 	(vii)	 	Form S-8 Registration Statement (File No. 333-11092), filed with the SEC on
November 4, 1999;
	 
	 	(viii)	 	Form S-8 Registration Statement (File No. 333-11388), filed with the SEC on January
24, 2000;
	 
	 	(ix)	 	Post-Effective Amendment No. 1 on Form S-8 to Form F-4 Registration Statement
(File No. 333-93127), filed with the SEC on January 24, 2000;
	 
	 	(x)	 	Form F-3 Registration Statement (File No. 333-11784), filed with the SEC on
April 4, 2000;
	 
	 	(xi)	 	Form S-8 Registration Statement (File No. 333-11986), filed with the SEC on May
19, 2000;

 

 

	 	(xii)	 	Form S-8 Registration Statement (File No. 333-11996), filed with the SEC on
May 23, 2000;
	 
	 	(xiii)	 	Form S-8 Registration Statement (File No. 333-12516), filed with the SEC on September
12, 2000;
	 
	 	(xiv)	 	Form S-8 Registration Statement (File No. 333-12864), filed with the SEC on
November 15, 2000;
	 
	 	(xv)	 	Form S-8 Registration Statement (File No. 333-13410), filed with the SEC on
April 27, 2001;
	 
	 	(xvi)	 	Form S-8 Registration Statement (File No. 333-13554), filed with the SEC on
May 24, 2001;
	 
	 	(xvii)	 	Form F-3 Registration Statement (File No. 333-13966), filed with the SEC on September
28, 2001;
	 
	 	(xviii)	 	Form F-3 Registration Statement (File No. 333-14004), filed with the SEC on October
12, 2001;
	 
	 	(xix)	 	Form S-8 Registration Statement (File No. 333-14016), filed with the SEC on
October 17, 2001;
	 
	 	(xx)	 	Post-Effective Amendment No. 1 on Form S-8 to Form F-4 Registration Statement,
as amended (File No. 333-82930), initially filed with the SEC on February 15, 2002;
	 
	 	(xxi)	 	Form S-8 Registration Statement (File No. 333-89466), filed with the SEC on
May 31, 2002;
	 
	 	(xxii)	 	Form S-8 Registration Statement (File No. 333-98075), filed with the SEC on August
14, 2002;
	 
	 	(xxiii)	 	Form S-8 Registration Statement (File No. 333-105009), filed with the SEC on May 5,
2003;
	 
	 	(xxiv)	 	Form S-8 Registration Statement (File No. 333-107161), filed with the SEC on July 18,
2003;
	 
	 	(xxv)	 	Form S-8 Registration Statement (File No. 333-107271), filed with the SEC on
July 23, 2003;
	 
	 	(xxvi)	 	Form S-8 Registration Statement (File No. 333-108755), filed with the SEC on
September 12, 2003;

 

 

	 	(xxvii)	 	Form F-3 Registration Statement, as amended (File No. 333-119301), initially filed
with the SEC on September 27, 2004;
	 
	 	(xxviii)	 	Form S-8 Registration Statement (File No. 333-119746), filed with the SEC on October
14, 2004; and
	 
	 	(xxix)	 	Form S-8 Registration Statement (File No. 333-121813), filed with the SEC on January
3, 2005.

/s/ DELOITTE & ASSOCIÉS

Neuilly sur Seine, France

March 30, 2005EX-10.17:

 

Exhibit 10.17

Assurant Deferred Compensation Plan

Plan Document

Amended and Restated

Effective March 1, 2005

 

 

Assurant Deferred Compensation Plan

Plan Document continued...

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	Purpose	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 1	 	Definitions	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 2	 	Selection/Enrollment/Eligibility	 	 	6	 
	 
	 	2.1	 	Eligibility	 	 	6	 
	 
	 	2.2	 	Enrollment Requirements	 	 	7	 
	 
	 	2.3	 	Commencement of Participation	 	 	7	 
	 
	 	2.4	 	Termination of Participation and/or Deferrals	 	 	7	 
	 
	 	2.5	 	Special Rules for Employees Who Terminated Employment During 2004	 	 	8	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 3	 	Deferral Commitments/Company Contributions/Crediting/Taxes	 	 	8	 
	 
	 	3.1	 	Minimum Deferral	 	 	8	 
	 
	 	3.2	 	Maximum Deferral	 	 	8	 
	 
	 	3.3	 	Election to Defer/Change in Election	 	 	9	 
	 
	 	3.4	 	Withholding of Annual Deferral Amounts	 	 	11	 
	 
	 	3.5	 	Annual Company Discretionary Amount	 	 	11	 
	 
	 	3.6	 	Investment of Trust Assets	 	 	11	 
	 
	 	3.7	 	Vesting	 	 	11	 
	 
	 	3.8	 	Crediting/Debiting of Account Balances	 	 	12	 
	 
	 	3.9	 	FICA and Other Taxes	 	 	14	 
	 
	 	3.10	 	Distributions	 	 	15	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 4	 	Fixed Date Payout/Unforeseeable Financial Emergencies	 	 	15	 
	 
	 	4.1	 	Fixed Date Payout	 	 	15	 
	 
	 	4.2	 	Other Benefits Take Precedence Over Fixed Date Payout	 	 	16	 
	 
	 	4.3	 	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 5	 	Termination Benefit	 	 	17	 
	 
	 	5.1	 	Termination Benefit	 	 	17	 
	 
	 	5.2	 	Payment of Termination Benefit	 	 	17	 

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 ii 

 

 

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	ARTICLE 6	 	Survivor Benefit	 	 	18	 
	 
	 	6.1	 	Pre-Termination Survivor Benefit	 	 	18	 
	 
	 	6.2	 	Payment of Pre-Termination Survivor Benefit	 	 	18	 
	 
	 	6.3	 	Death Prior to Completion of Termination or Disability Benefit	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 7	 	Disability Benefit	 	 	19	 
	 
	 	7.1	 	Disability Benefit	 	 	19	 
	 
	 	7.2	 	Payment of Disability Benefit	 	 	19	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 8	 	Beneficiary Designation	 	 	20	 
	 
	 	8.1	 	Beneficiary	 	 	20	 
	 
	 	8.2	 	Beneficiary Designation/Change	 	 	20	 
	 
	 	8.3	 	Acceptance	 	 	20	 
	 
	 	8.4	 	No Beneficiary Designation	 	 	20	 
	 
	 	8.5	 	Doubt as to Beneficiary	 	 	20	 
	 
	 	8.6	 	Discharge of Obligations	 	 	20	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 9	 	Leave of Absence	 	 	21	 
	 
	 	9.1	 	Paid Leave of Absence	 	 	21	 
	 
	 	9.2	 	Unpaid Leave of Absence	 	 	21	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 10	 	Termination/Amendment/Modification	 	 	21	 
	 
	 	10.1	 	Termination	 	 	21	 
	 
	 	10.2	 	Amendment	 	 	22	 
	 
	 	10.3	 	Effect of Payment	 	 	22	 
	 
	 	10.4	 	Amendment to Ensure Proper Characterization of the Plan 	 	 	22	 
	 
	 	10.5	 	Changes in Law Affecting Taxability	 	 	22	 
	 
	 	10.6	 	Prohibited Acceleration/Distribution Timing	 	 	23	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 11	 	Administration	 	 	23	 
	 
	 	11.1	 	Administrator Duties	 	 	23	 
	 
	 	11.2	 	Agents	 	 	25	 
	 
	 	11.3	 	Binding Effect of Decisions	 	 	25	 
	 
	 	11.4	 	Indemnity of Administrators	 	 	25	 
	 
	 	11.5	 	Company Information	 	 	25	 

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	ARTICLE 12	 	Other Benefits and Agreements	 	 	26	 
	 
	 	12.1	 	Coordination with Other Benefits	 	 	26	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 13	 	Claims Procedures	 	 	26	 
	 
	 	13.1	 	Scope of Claims Procedures	 	 	26	 
	 
	 	13.2	 	Initial Claim	 	 	26	 
	 
	 	13.3	 	Review Procedures	 	 	27	 
	 
	 	13.4	 	Calculation of Time Periods	 	 	29	 
	 
	 	13.5	 	Legal Action	 	 	30	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 14	 	Trust	 	 	30	 
	 
	 	14.1	 	Establishment of the Trust	 	 	30	 
	 
	 	14.2	 	Interrelationship of the Plan and the Trust	 	 	30	 
	 
	 	14.3	 	Distributions from the Trust	 	 	30	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 15	 	Miscellaneous	 	 	30	 
	 
	 	15.1	 	Status of Plan	 	 	30	 
	 
	 	15.2	 	Unsecured General Creditor	 	 	31	 
	 
	 	15.3	 	Company’s Liability	 	 	31	 
	 
	 	15.4	 	Nonassignability	 	 	31	 
	 
	 	15.5	 	Not a Contract of Employment	 	 	31	 
	 
	 	15.6	 	Furnishing Information	 	 	31	 
	 
	 	15.7	 	Terms	 	 	31	 
	 
	 	15.8	 	Captions	 	 	32	 
	 
	 	15.9	 	Governing Law	 	 	32	 
	 
	 	15.10	 	Notice	 	 	32	 
	 
	 	15.11	 	Successors	 	 	32	 
	 
	 	15.12	 	Spouse’s Interest	 	 	32	 
	 
	 	15.13	 	Validity	 	 	32	 
	 
	 	15.14	 	Incompetent	 	 	32	 
	 
	 	15.15	 	Court Order	 	 	33	 
	 
	 	15.16	 	Distribution in the Event of Taxation	 	 	33	 
	 
	 	15.17	 	Insurance	 	 	33	 
	 
	 	15.18	 	Aggregation of Employers	 	 	33	 
	 
	 	 	 	 	 	 	 	 
	APPENDIX 1: PROVISIONS GOVERNING PRE-2005 DEFERRALS	 	 	35	 

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ASSURANT DEFERRED COMPENSATION PLAN

Amended and Restated

Effective March 1, 2005

Purpose

     The purpose of this Assurant Deferred Compensation Plan (the “Plan”), as amended and
restated, is to provide specified benefits to a select group of management or highly compensated
employees of Assurant, Inc. (the “Sponsor”) and those of the Sponsor’s affiliates that adopt this
Plan with the approval of the board of directors of the Sponsor, or a duly appointed committee
thereof (the “Board”) (the Sponsor, as well as each such affiliate, hereinafter are referred to
collectively as the “Company”), and also to provide such benefits to non-employee members of the
board of directors of the Sponsor.

     The Plan is an amendment and restatement of the Assurant Investment Plan, attached as Appendix
1 hereto, the terms of which have not been materially modified after October 3, 2004.
Notwithstanding any provision of the Plan to the contrary, but subject to Section 11.1, amounts
deferred or contributed under the Plan prior to January 1, 2005, plus any earnings or losses
thereon, are governed by the terms of Appendix 1, while all amounts deferred under the Plan on or
after January 1, 2005, plus any earnings or losses thereon, are governed by the remaining
provisions of the Plan.

     This Plan shall be unfunded for tax purposes and for purposes of Title I of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). This Plan is intended to comply with
the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), as
added by the American Jobs Creation Act of 2004, and the Treasury regulations or any other
authoritative guidance issued thereunder (“Section 409A”) with respect to amounts deferred on or
after January 1, 2005, plus any earnings or losses thereon.

ARTICLE 1

Definitions

     For purposes of this Plan, unless otherwise clearly apparent from the context, the
following phrases or terms shall have the following indicated meanings:

	1.1  	“Account Balance” shall mean, with respect to a Participant, a credit on the records of the
Company equal to the sum of (i) the Deferral Account balance and (ii) the Company
Discretionary Account balance. The Account Balance, and each other specified account balance,
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, or his or her designated
Beneficiary, pursuant to this Plan.

1

 

Assurant Deferred Compensation Plan

Plan Document continued...

	1.2  	“Administrator” shall mean the Board, or, to the extent provided in Article 11, the committee
designated by the Board to perform certain of the Board’s duties and responsibilities in
respect of the Plan.
	 
	1.3  	“Annual Base Salary” shall mean the annual cash compensation relating to services performed
during any calendar year, whether or not paid in such calendar year or included on the Federal
Income Tax Form W-2 for such calendar year, excluding Incentive Payments, Directors Fees,
overtime, fringe benefits, stock options, relocation expenses, non-monetary awards, fees,
automobile and other allowances paid to a Participant for employment services rendered
(whether or not such allowances are included in the Employee’s gross income). Annual Base
Salary shall be calculated without regard to any reductions for compensation voluntarily
deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of
the Company (and therefore shall be calculated to include amounts not otherwise included in
the Participant’s gross income under Code Sections 125, 402(e)(3), 402(h) or 132(f)(4)
pursuant to plans established by the Company).
	 
	1.4  	“Annual Company Discretionary Amount” shall mean, for the Plan Year of reference, the amount
determined in accordance with Section 3.5.
	 
	1.5  	“Annual Deferral Amount” shall mean that portion of a Participant’s Annual Base Salary and/or
Incentive Payments, or Directors Fees that a Participant elects to have, and is, deferred in
accordance with Article 3, for the Plan Year of reference. For purposes of the Plan, a
deferral of a Participant’s Annual Base Salary shall be considered as deferred for the Plan
Year in which the services giving rise to the Annual Base Salary are performed and a deferral
of a Participant’s Incentive Payments or Directors Fees shall be considered as deferred for
the Plan Year in which the Incentive Payments or Directors Fees would, but for the deferral
election, have been payable to the Participant. By way of example, a Participant’s 2005
Annual Deferral Amount shall consist of: (i) that portion of the Participant’s Annual Base
Salary earned during 2005 which is deferred under the Plan; and/or (ii) that portion of the
Participant’s Incentive Payments or Directors Fees which, but for the Participant’s election
to defer such amounts under the Plan, would have been payable to the Participant during 2005
(including those Incentive Payments deferred under the Plan which, while otherwise payable in
2005, were earned during 2004). In the event of a Participant’s Disability, death or a
Separation from Service prior to the end of a Plan Year, such year’s Annual Deferral Amount
shall be the actual amount withheld prior to such event.
	 
	1.6  	“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated
in accordance with Article 8, that are entitled to receive benefits under this Plan upon the
death of a Participant.
	 
	1.7  	“Beneficiary Designation Form” shall mean the form established from time to time by the
Administrator that a Participant completes, signs and returns to the Administrator to
designate one or more Beneficiaries.

2

 

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	1.8  	“Board” shall mean the board of directors of the Sponsor, or a committee thereof duly
appointed to act on behalf of the Board in respect of the Plan.
	 
	1.9  	“Claimant” shall have the meaning set forth in Section 13.2.
	 
	1.10  	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time.
	 
	1.11  	“Company” shall mean the Sponsor and any affiliate of the Sponsor that adopts this Plan with
the approval of the Board, and any successor to all or substantially all of the Company’s
assets or business.
	 
	1.12  	“Company Discretionary Account” shall mean (i) the sum of the Participant’s Annual Company
Discretionary Amounts, plus (ii) amounts credited or debited in accordance with all the
applicable crediting provisions of this Plan that relate to the Participant’s Company
Discretionary Account, less (iii) all distributions made to the Participant or his or her
Beneficiary pursuant to this Plan that relate to the Participant’s Company Discretionary
Account.
	 
	1.13  	“Deduction Limitation” shall mean the following described limitation on a benefit that may
otherwise be distributable pursuant to the provisions of this Plan. Except as otherwise
provided, this limitation shall be applied to all distributions that are “subject to the
Deduction Limitation” under this Plan. If the Administrator determines in good faith that
there is a reasonable likelihood that any compensation paid to a Participant for a taxable
year of the Company would not be deductible by the Company solely by reason of the limitation
under Code Section 162(m), then to the extent deemed necessary by the Administrator to ensure
that the entire amount of any distribution to the Participant pursuant to this Plan is
deductible, the Administrator may defer all or any portion of a distribution under this Plan.
Any amounts deferred pursuant to this limitation shall continue to be credited or debited with
additional amounts in accordance with Section 3.8 below, even if such amount is being paid out
in installments. The amounts so deferred and amounts credited or debited thereon shall be
distributed to the Participant or his or her Beneficiary (in the event of the Participant’s
death) at the earliest possible date, as determined by the Administrator in good faith, on
which the deductibility of compensation paid or payable to the Participant for the taxable
year of the Company during which the distribution is made will not be limited by Code Section
162(m).
	 
	1.14  	“Deferral Account” shall mean (i) the sum of all of a Participant’s Annual Deferral Amounts,
plus (ii) amounts credited or debited in accordance with all the applicable crediting
provisions of this Plan that relate to the Participant’s Deferral Account, less (iii) all
distributions made to the Participant or his or her Beneficiary pursuant to this Plan that
relate to his or her Deferral Account.
	 
	1.15  	“Director” shall mean a member of the board of directors of the Sponsor who is not an
Employee.
	 
	1.16  	“Directors Fees” shall mean the fees paid by the Sponsor, including retainer fees and
meetings fees, as compensation for serving on the board of directors of the Sponsor.

3

 

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	1.17  	“Disability” shall mean, except as may otherwise be required by Section 409A, a period of
disability during which a Participant (i) is 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 twelve (12) months; or (ii) is, 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 twelve (12) months, receiving income replacement benefits
for a period of not less than three (3) months under an accident and health plan covering
Employees of the Company.
	 
	1.18  	“Disability Benefit” shall mean the benefit set forth in Article 7.
	 
	1.19  	“Effective Date” shall mean the effective date of this amended and restated Plan, which is
March 1, 2005.
	 
	1.20  	“Election Form” shall mean the form or forms established from time to time by the
Administrator that a Participant completes, signs and returns to the Administrator to make an
election under the Plan (which form or forms may take the form of an electronic transmission,
if required or permitted by the Administrator).
	 
	1.21  	“Employee” shall mean an individual whom the Company treats as an “employee” for Federal
income tax withholding purposes.
	 
	1.22  	“Incentive Payments” shall mean any cash compensation paid to a Participant under the
Sponsor’s Short-Term Incentive Plan, and any other non-base salary cash compensation paid to a
Participant under any other incentive plan or bonus arrangement of the Company relating to
services performed during any calendar year, including, but not limited to, commissions,
special incentives or bonuses, lump-sum “change-in-control” payments, eligible severance
payments (each as defined by the Administrator), whether or not paid in such calendar year or
included on the Federal Income Tax Form W-2 for such calendar year. Notwithstanding the
preceding, the Administrator may, in its discretion, limit those types of non-base salary cash
compensation which qualify as “Incentive Payments” under the Plan for any given calendar year.
	 
	1.23  	“Participant” shall mean any Employee who is selected by the Administrator to participate in
the Plan, provided such individual (i) elects to participate in the Plan, (ii) signs a Plan
Agreement, an Election Form(s) and a Beneficiary Designation Form, (iii) has his or her signed
Plan Agreement, Election Form(s) and Beneficiary Designation Form accepted by the
Administrator, (iv) commences participation in the Plan, and (v) does not have his or her
Plan Agreement terminated. The term “Participant” shall also mean any Director who satisfies
the above requirements for enrollment. A spouse or former spouse of a Participant shall not
be treated as a Participant in the Plan or have an Account Balance under the Plan under any
circumstance. The term Participant shall also include any former Employee who satisfies the
conditions of Section 2.5.

4

 

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	1.24  	“Performance-Based Compensation” shall mean that portion of a Participant’s Incentive
Payments which is based on the performance by the Participant of services for the Company over
a period of at least twelve (12) months and which qualifies as “performance-based
compensation” under Section 409A.
	 
	1.25  	“Plan” shall mean this Assurant Deferred Compensation Plan, as amended and restated, as
evidenced by this instrument and by each Plan Agreement, as they may be further amended from
time to time.
	 
	1.26  	“Plan Agreement” shall mean a written agreement (which may take the form of an electronic
transmission, if required or permitted by the Administrator), as may be amended from time to
time, which is entered into by and between the Company and a Participant. Each Plan Agreement
executed by a Participant and the Company shall provide for the entire benefit to which such
Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan
Agreement bearing the latest date of acceptance by the Company shall supersede all previous
Plan Agreements in their entirety and shall govern such entitlement. The terms of any Plan
Agreement may be different for any Participant, and any Plan Agreement may provide additional
benefits not set forth in the Plan or limit the benefits otherwise provided under the Plan;
provided, however, that any such additional benefits or benefit limitations must be agreed to
by both the Company and the Participant. In the Plan Agreement, each Participant shall
acknowledge that he or she accepts all of the terms of the Plan including the discretionary
authority of the Administrator as set forth in Article 11.
	 
	1.27  	“Plan Year” shall mean a period beginning on January 1 of each calendar year and continuing
through December 31 of such calendar year during which this Plan is in effect; provided.
	 
	1.28  	“Pre-Termination Survivor Benefit” shall mean the benefit set forth in Article 6.
	 
	1.29  	“Section 409A” shall mean Code Section 409A and the Treasury regulations or other
authoritative guidance issued thereunder.
	 
	1.30  	“Separation from Service” shall mean separation from service, within the meaning of Section
409A, with the Company by a Participant, voluntarily or involuntarily, for any reason other
than Disability, death or an authorized leave of absence.
	 
	1.31  	“Fixed Date Payout” shall mean the payout set forth in Article 4.
	 
	1.32  	“Specified Employee” shall mean, with respect to a corporation any stock of which is publicly
traded on an established securities market or otherwise, a Key Employee, as currently defined
in Code Section 416(i) (without regard to paragraph (5) thereof) to mean, as of the Effective
Date, an Employee of the Company who, at any time during the Plan Year, is (1) an officer of
the Company having an annual compensation greater than one hundred thirty-five thousand
dollars ($135,000) for 2005 (indexed for inflation in future years); (ii) a five-percent (5%)
owner of the Company; or (iii) a one-percent (1%) owner of the Company

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	   	having an annual compensation from the Company of more than one hundred fifty thousand
dollars ($150,000).
	 
	1.33  	“Sponsor” shall mean Assurant, Inc., and any successor to all or substantially all of the
Sponsor’s assets or business.
	 
	1.34  	“Termination Benefit” shall mean the benefit set forth in Article 5.
	 
	1.35  	“Trust” shall mean the trust established pursuant to this Plan, as amended from time to time.
The assets of the Trust shall be the property of the Company.
	 
	1.36  	“Unforeseeable Financial Emergency” shall mean an unanticipated emergency that is caused by
an event beyond the control of the Participant that would result in severe financial hardship
to the Participant resulting from (i) an illness or accident of the Participant, the
Participant’s spouse or a dependent of the Participant, (ii) a loss of the Participant’s
property due to casualty, or (iii) such other extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant, all as determined in the
sole discretion of the Administrator.
	 
	1.37  	“Yearly Installment Method” shall be a yearly installment payment over the number of years
selected by the Participant in accordance with this Plan, calculated as follows: The Account
Balance of the Participant (or the appropriate portion thereof) shall be calculated as of the
close of business on the date of reference (or, if the date of reference is not a business
day, on the immediately following business day), and shall be paid as soon as practicable
thereafter. The date of reference with respect to the first (1st) yearly
installment payment shall be as provided in Section 5.2, 6.2 or 7.2 (as applicable), and the
date of reference with respect to subsequent yearly installment payments shall be the July 1
of the following Plan Year. The yearly installment shall be calculated by multiplying this
balance by a fraction, the numerator of which is one (1), and the denominator of which is the
remaining number of yearly payments due the Participant. By way of example, if the
Participant elects a ten (10) year Yearly Installment Method, the first payment shall be
one-tenth (1/10) of the Account Balance, calculated as described in this definition. The
following year, the payment shall be one-ninth (1/9) of the Account Balance, calculated as
described in this definition.

ARTICLE 2

Selection/Enrollment/Eligibility

	2.1  	Eligibility. As of the Effective Date, participation in the Plan shall be limited
to (i) Employees whom the Administrator designates, in its sole discretion, for participation,
provided that (1) Employees may not participate in the Plan unless they are members of a
select group of management or highly compensated employees of the Company, as membership in
such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA
(which determination shall be made by the Administrator in its sole discretion) and (2) unless
and until the Administrator revises the following standards for Employee participation as it
deems necessary or appropriate in its discretion, only those Employees earning at least one
hundred twenty-five thousand dollars ($125,000)

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	   	in annual base salary and those Employees earning less than one hundred twenty-five thousand
dollars ($125,000) in annual base salary, but who are reasonably expected by the
Administrator to have total annual compensation (e.g., base salary, commissions and bonuses)
of at least two hundred-thousand dollars ($200,000) are eligible to participate in the Plan;
and (ii) Directors. For purposes of this Article, the term “Plan” shall mean the provisions
of the Plan other than those contained in Appendix 1.
	 
	2.2  	Enrollment Requirements. As a condition to participation, each selected Employee and
each Director shall complete, execute and return to the Administrator a Plan Agreement, an
Election Form(s) and a Beneficiary Designation Form, all within thirty (30) days after he or
she becomes eligible to participate in the Plan. The date a selected Employee or a Director
becomes eligible to participate in the Plan shall be the date he or she is notified by the
Administrator of such eligibility. In addition, the Administrator shall establish from time
to time such other enrollment requirements as it determines in its sole discretion are
necessary.
	 
	2.3  	Commencement of Participation. Subject to the provisions set forth in Article 3
regarding elections made for the 2005 calendar year, provided a selected Employee or a
Director has met all enrollment requirements set forth in this Plan and required by the
Administrator, including returning all required documents to the Administrator within the
specified time period, that individual shall commence participation in the Plan as of the
first pay period following the date on which he or she completes all enrollment requirements
(or as soon as practicable thereafter as the Administrator may determine). If he or she fails
to meet all such requirements within the period required, in accordance with Section 2.2, that
individual shall not be eligible to participate in the Plan until the first day of the
following Plan Year, again subject to timely delivery to and acceptance by the Administrator
of the required documents.
	 
	2.4  	Termination of Participation and/or Deferrals. If the Administrator determines in
good faith that a Participant who is an Employee no longer qualifies as a member of a select
group of management or highly compensated employees of the Company, the Administrator shall
have the right, in its sole discretion and subject to Section 409A, to (i) terminate any
deferral election the Participant has made for the remainder of the Plan Year in which the
Participant’s membership status changes, (ii) prevent the Participant from making future
deferral elections and/or (iii) immediately distribute the Participant’s then vested Account
Balance as a Termination Benefit and terminate the Participant’s participation in the Plan.
	 
	2.5  	Special Rules for Employees Who Terminated Employment During 2004. Notwithstanding
any other provision of the Plan to the contrary, but subject to Section 409A, any former
Employee whom the Administrator designates, in its sole discretion, for participation and who,
while an Employee, satisfied the requirements of 2.1, shall be eligible to participate in the
Plan with respect to Incentive Payments otherwise payable following the former Employee’s
Separation from Service. By way of example, an eligible former Employee who incurred a
Separation from Service during 2004 may elect under Section 3.3(a) to defer all or a portion
of the individual’s Incentive Payments

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otherwise payable during the 2005 calendar year, as long as the election is made no later
than the earlier of (i) March 15, 2005, or (ii) the date such Incentive Payments are
otherwise payable to the individual.

ARTICLE 3

Deferral Commitments/Company Contributions/Crediting/Taxes

	3.1  	Minimum Deferral.

	 	(a)  	Annual Base Salary, Incentive Payments and Directors Fees. For each
Plan Year, a Participant may elect to defer, as his or her Annual Deferred Amount,
Annual Base Salary and/or Incentive Payments, or Directors Fees (as applicable) in the
following minimum amounts for each deferral elected:

	 	 	 	 	 	 	 	 
	 
	 	Deferral	 	 	Minimum Amount	 	 
	 	Annual Base Salary
	 	 	$	2,000	 	 
	 	Incentive Payments
	 	 	$	2,000	 	 
	 	Directors Fees
	 	 	$	2,000	 	 
	 

	 	 	Notwithstanding the foregoing, the Administrator may, in its sole discretion,
establish for any Plan Year different minimum amount(s). If an election is made for
less than the stated minimum amount(s), or if no election is made, the amount
deferred shall be zero (0).

	 	(b)  	Short Plan Year. Notwithstanding the foregoing, if a Participant first
becomes a Participant after the first day of a Plan Year, the minimum deferral shall be
an amount equal to the minimum set forth above, multiplied by a fraction, the numerator
of which is the number of complete months remaining in the Plan Year and the
denominator of which is twelve (12).

	3.2  	Maximum Deferral.

	 	(a)  	Annual Base Salary, Incentive Payments and Directors Fees. For each Plan
Year, a Participant may elect to defer, as his or her Annual Deferral Amount, Annual
Base Salary and/or Incentive Payments, or Directors Fees up to the following maximum
percentages for each deferral elected:

	 	 	 	 	 	 	 	 
	 
	 	Deferral	 	 	Maximum Amount	 	 
	 	Annual Base Salary
	 	 	 	50	%	 
	 	Incentive Payments
	 	 	 	100	%	 
	 	Directors Fees
	 	 	 	100	%	 
	 

	 	(b)  	Administrator’s Discretion. Notwithstanding the foregoing, (i) the
Administrator may, in its sole discretion, establish for any Plan Year maximum
percentages which differ from those set forth above, and (ii) if a Participant first
becomes a Participant after the first day of a Plan Year, the maximum Annual Deferral

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	 	   	Amount with respect to Annual Base Salary, Incentive Payments or Directors Fees
shall be limited to the percentage of such compensation not yet earned by the
Participant as of the date the Participant submits a Plan Agreement and Election
Form(s) to the Administrator for acceptance.

	3.3  	Election to Defer/Change in Election.

	 	(a)  	Timing of Election. Except as provided below, a Participant shall make
Annual Base Salary, Incentive Payments and/or Directors Fee deferral election(s) with
respect to Annual Base Salary, Incentive Payments and/or Directors Fees to be earned
during a coming twelve (12) month Plan Year, provided that a deferral election that a
Participant makes with respect to his or her 2005 Annual Base Salary shall be effective
for the period commencing July 1, 2005 and ending December 31, 2005. Each such

deferral election must be made during such election period as shall be established by
the Administrator, which election period ends no later than the last day of the Plan
Year preceding the Plan Year in which the services giving rise to the Annual Base
Salary, Incentive Payments and/or Directors Fees to be deferred are to be performed,
except as provided below. The Administrator may in its discretion establish different
election periods for Annual Base Salary, Incentive Payment and/or Director Fee
deferrals; provided, however, that, except as provided below, each such election period
ends no later than the last day of the Plan Year preceding the Plan Year in which the
services giving rise to the Annual Base Salary, Incentive Payments or Directors Fees to
be deferred are to be performed.
	 
	 	   	Notwithstanding the preceding, in the case of the first Plan Year in which an
Employee or Director becomes eligible to become a Participant, if and to the extent
permitted by the Administrator, the individual may make an election no later than
thirty (30) days after the date he or she becomes eligible to become a Participant
to defer Annual Base Salary, Incentive Payments and/or Directors Fees for services
to be performed after the election. Also, notwithstanding the preceding, if and to
the extent permitted by the Administrator, a Participant may make an election to
defer that portion (if any) of his or her Incentive Payments which qualifies as
Performance-Based Compensation no later than six (6) months prior to the last day of
the period over which the services giving rise to the Performance-Based Compensation
are performed.
	 
	 	   	In addition, notwithstanding the preceding, to the extent permitted by the
Administrator and under Section 409A, a Participant may make an election to defer
Annual Deferral Amounts that relate all or in part to services performed on or
before December 31, 2005 (including, but not limited to, Annual Base Salary for
services performed during the period commencing July 1, 2005 and ending December 31,
2005, Incentive Payments payable during the 2005 calendar year, Directors Fees
payable during the 2005 calendar year and lump sum “change in control” and/or
severance

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	 	   	payments relating all or in part to services performed on or before December 31,
2005) no later than the earlier of (i) March 15, 2005, or (ii) the date such Annual
Deferral Amounts are otherwise payable to the Participant.
	 
	 	   	Notwithstanding the preceding, with respect to a Participant’s election to defer any
item of Annual Base Salary, Incentive Payments and/or Directors Fees under the Plan,
if the Administrator determines prior to the deferral of such item that Section 409A
prevents the proper federal income tax deferral of the item, the Participant’s
election, to the extent permitted under Section 409A, shall be considered
ineffective and the item shall instead be payable in cash to the Participant as
though the deferral election not been made. By way of example, if a Participant
elects to defer under the Plan any lump sum “change-in-control” and/or severance
payment(s) otherwise payable to the Participant during the 2005 calendar year and,
prior to the date such amount(s) otherwise would be payable to the Participant, the
Administrator determines such amount(s) may not properly be deferred under the Plan
in accordance with Section 409A, the Participant’s election shall be ineffective and
the amount(s), if any, shall be paid to the Participant in cash instead of deferred
under the Plan.
	 
	 	(b)  	Manner of Election. For any Plan Year (or portion thereof), a deferral
election for that Plan Year (or portion thereof), and such other elections as the
Administrator deems necessary or desirable under the Plan, shall be made by timely
delivering to the Administrator, in accordance with its rules and procedures, by the
deadline(s) set forth above, an Election Form, along with such other elections as the
Administrator deems necessary or desirable under the Plan. For these elections to be
valid, the Election Form(s) must be completed and signed by the Participant, timely
delivered to the Administrator (in accordance with Section 2.2 above) and accepted by
the Administrator. If no such Election Form(s) is timely delivered for a Plan Year (or
portion thereof), the Annual Deferral Amount shall be zero (0) for that Plan Year (or
portion thereof).
	 
	 	(c)  	Change in Election. A Participant may not elect to change his or her
deferral election that is in effect for a Plan Year, except if and to the extent
permitted by the Administrator and made in accordance with the provisions of Section
409A specifically relating to the change and/or revocation of deferral elections.

	3.4  	Withholding of Annual Deferral Amounts. For each Plan Year, the Annual Base Salary
portion of the Annual Deferral Amount shall be withheld from each regularly scheduled Annual
Base Salary payroll in the percentage elected by the Participant, as adjusted from time to
time for increases and decreases in Annual Base Salary. The Incentive Payments and/or
Director Fees portion of the Annual Deferral Amount shall be withheld at the time the
Incentive Payments or Director Fees are or otherwise would be paid to the Participant, whether
or not this occurs during the Plan Year itself.

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	3.5  	Annual Company Discretionary Amount. For each Plan Year, the Administrator, acting
on behalf of the Company and in its sole discretion, may, but is not required to, credit any
amount it desires to any Participant’s Company Discretionary Account under this Plan, which
amount shall be for that Participant the Annual Company Discretionary Amount for that Plan
Year. The amount so credited to a Participant may be smaller or larger than the amount
credited to any other Participant, and the amount credited to any Participant for a Plan Year
may be zero (0), even though one or more other Participants receive an Annual Company
Discretionary Amount for that Plan Year. Unless otherwise specified by the Administrator, the
Annual Company Discretionary Amount, if any, shall be credited as of the last day of the Plan
Year. Unless otherwise specified by the Administrator, if a Participant to whom an Annual
Company Discretionary Amount is credited is not employed by or performing services for the
Company as of the last day of a Plan Year other than by reason of his or her death or
Disability, the Annual Company Discretionary Amount for that Plan Year shall be zero (0).
	 
	3.6  	Investment of Trust Assets. The trustee of the Trust shall be authorized, upon
written instructions received from the Administrator or investment manager appointed by the
Administrator, to invest and reinvest the assets of the Trust in accordance with the
applicable Trust agreement, including the reinvestment of the proceeds in one or more
investment vehicles designated by the Administrator.
	 
	3.7  	Vesting.

	 	(a)  	A Participant shall at all times be one hundred percent (100%) vested in his or
her Deferral Account.
	 
	 	(b)  	A Participant shall become vested in his or her Company Discretionary Account
pursuant to a vesting schedule, if any, approved and documented by the Administrator at
the time the Annual Company Discretionary Amount is credited to the Participant’s
Company Discretionary Account.

	3.8  	Crediting/Debiting of Account Balances. In accordance with, and subject to, the
rules and procedures that are established from time to time by the Administrator, in its sole
discretion, amounts shall be credited or debited to a Participant’s Account Balance in
accordance with the following rules:

	 	(a)  	Sub-Accounts. Separate sub-accounts shall be established and
maintained with respect to each Participant’s Account Balance (together, the
“Sub-Accounts”), if and as applicable, one attributable to the portion of the
Participant’s Account Balance which represents Annual Base Salary deferrals, another
attributable to the portion of the Participant’s Account Balance which represents
Incentive Payment deferrals, another attributable to the portion of the Participant’s
Account Balance which represents Annual Company Discretionary Amounts, and another
attributable to the portion of the Participant’s Account Balance which represents
Directors Fee deferrals.

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	 	(b)  	Election of Measurement Funds. A Participant, in connection with his
or her initial deferral election in accordance with Section 3.3 above, shall elect, on
the Election Form(s), one or more Measurement Fund(s) (as described in Section 3.8(d)
below) to be used to determine the additional amounts to be credited or debited to each
of his or her Sub-Accounts for the first business day of the Plan Year, continuing
thereafter for the remainder of that Plan Year, as well as for subsequent Plan Years,
unless changed in accordance with the next sentence. Commencing with the first
business day of the Plan Year, and continuing thereafter for the remainder of the Plan
Year and for subsequent Plan Years (unless the Participant ceases during the Plan Year
to participate in the Plan), the Participant may (but is not required to) elect daily,
by submitting an Election Form(s) to the Administrator that is accepted by the
Administrator (which submission may take the form of an electronic transmission, if
required or permitted by the Administrator), to add or delete one or more Measurement
Fund(s) to be used to determine the additional amounts to be credited or debited to
each of his or her Sub-Accounts, or to change the portion of each of his or her
Sub-Accounts allocated to each previously or newly elected Measurement Fund(s). If an
election is made in accordance with the previous sentence, it shall apply to the next
business day and continue thereafter for the remainder of the Plan Year and for
subsequent Plan Years (unless the Participant ceases during the Plan Year to
participate in the Plan), unless changed in accordance with the previous sentence.
	 
	 	(c)  	Proportionate Allocation. In making any election described in Section
3.8(b) above, the Participant shall specify on the Election Form(s), in ten percentage
point (10%) increments (except as otherwise specified by the Administrator), the
percentage of each of his or her Sub-Account(s) to be allocated to a Measurement Fund
(as if the Participant was making an investment in that Measurement Fund with that
portion of his or her Account Balance).
	 
	 	(d)  	Measurement Funds. The Participant may elect one or more of the
Measurement Funds set forth on Schedule A (the “Measurement Funds”) for the purpose of
crediting or debiting additional amounts to his or her Account Balance. The
Administrator may, in its sole discretion, discontinue, substitute or add a Measurement
Fund(s). Each such action will take effect as of the first business day that follows
by thirty (30) days the day on which the Administrator gives Participants advance
written (which shall include e-mail) notice of such change. The Administrator may
also, in its discretion, limit the number and/or type(s) of Measurement Funds available
with respect to one or more Sub-Account(s). If the Administrator receives an initial
or revised Measurement Fund(s) election which it deems to be incomplete, unclear or
improper, the Participant’s Measurement Fund(s) election then in effect shall remain in
effect (or, in the case of a deficiency in an initial Measurement Fund(s) election, the
Participant shall be deemed to have directed investment in a money market, fixed income
or similar Measurement Fund made available under the Plan as determined by the
Administrator in its discretion). If the Administrator possesses

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	 	   	(or is deemed to possess as provided in the previous sentence) at any time
directions as to Measurement Fund(s) of less than all of the Participant’s Account
Balance, the Participant shall be deemed to have directed that the undesignated
portion of the Account Balance be deemed to be invested in a money market, fixed
income or similar Measurement Fund made available under the Plan as determined by
the Administrator in its discretion. Each Participant hereunder, as a condition to
his or her participation hereunder, agrees to indemnify and hold harmless the
Administrator and the Company, and their agents and representatives, from any losses
or damages of any kind relating to (i) the Measurement Funds made available
hereunder and (ii) any discrepancy between the credits and debits to the
Participant’s Account Balance based on the performance of the Measurement Funds and
what the credits and debits otherwise might be in the case of an actual investment
in the Measurement Funds.
	 
	 	(e)  	Crediting or Debiting Method. The performance of each elected
Measurement Fund (either positive or negative) will be determined by the Administrator,
in its sole discretion, based on the performance of the Measurement Funds themselves.
A Participant’s Account Balance shall be credited or debited on a daily basis based on
the performance of each Measurement Fund selected by the Participant, or as otherwise
determined by the Administrator in its sole discretion, as though (i) a Participant’s
Account Balance were invested in the Measurement Fund(s) selected by the Participant,
in the percentages elected by the Participant as of such date, at the closing price on
such date; (ii) the portion of the Annual Deferral Amount that was actually deferred
was invested in the Measurement Fund(s) selected by the Participant, in the percentages
elected by the Participant, no later than the close of business on the third (3rd)
business day after the day on which such amounts are actually deferred from the
Participant’s Annual Base Salary, Incentive Payments and/or Directors Fees through
reductions in his or her amounts otherwise payable, at the closing price on such date;
and (iii) any distribution made to a Participant that decreases such Participant’s
Account Balance ceased being invested in the Measurement Fund(s), in the percentages
applicable to such calendar month, no earlier than three (3) business days prior to the
distribution, at the closing price on such date.
	 
	 	(f)  	No Actual Investment. Notwithstanding any other provision of this Plan
that may be interpreted to the contrary, the Measurement Funds are to be used for
measurement purposes only, and a Participant’s election of any such Measurement Fund,
the allocation to his or her Account Balance thereto, the calculation of additional
amounts and the crediting or debiting of such amounts to a Participant’s Account
Balance shall not be considered or construed in any manner as an actual investment of
his or her Account Balance in any such Measurement Fund. In the event that the Company
or the trustee (as that term is defined in the Trust), in its own discretion, decides
to invest funds in any or all of the Measurement Funds, no Participant shall have any
rights in or to such investments themselves. Without limiting the foregoing, a
Participant’s Account

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	 	   	Balance shall at all times be a bookkeeping entry only and shall not represent any
investment made on his or her behalf by the Company or the Trust; the Participant
shall at all times remain an unsecured general creditor of the Company.
	 
	 	(g)  	Beneficiary Elections. Each reference in this Section 3.8 to a
Participant shall be deemed to include, where applicable, a reference to a Beneficiary.

	3.9  	FICA and Other Taxes.

	 	(a)  	Annual Deferral Amounts. For each Plan Year in which an Annual
Deferral Amount is being withheld from a Participant who is an Employee, the Company
shall withhold from that portion of the Participant’s Annual Base Salary and/or
Incentive Payments that is not being deferred, in a manner determined by the Company,
the Participant’s share of FICA and other employment taxes on such Annual Deferral
Amount. If necessary, the Administrator may reduce the Annual Deferral Amount in order
to comply with this Section 3.9.

	 	(b)  	Annual Company Discretionary Amounts. When a Participant who is an
Employee becomes vested in a portion of his or her Company Discretionary Account, the
Company shall have the discretion to withhold from the Participant’s Annual Base Salary
and/or Incentive Payments that is not deferred, in a manner determined by the Company,
the Participant’s share of FICA and other employment taxes. If necessary, the
Administrator may reduce the vested portion of the Participant’s Annual Company
Discretionary Amounts in order to comply with this Section 3.9.

	3.10  	Distributions. Notwithstanding anything herein to the contrary, (i) any
payments made to a Participant under this Plan shall be in cash form, and (ii) the Company, or
the trustee of the Trust, shall withhold from any payments made to a Participant under this
Plan all Federal, state and local income, employment and other taxes required to be withheld
by the Company, or the trustee of the Trust, in connection with such payments, in amounts and
in a manner to be determined in the sole discretion of the Company and the trustee of the
Trust.

ARTICLE 4

Fixed Date Payout/Unforeseeable Financial Emergencies

	4.1  	Fixed Date Payout. In connection with each election to defer an Annual Deferral
Amount (and/or, to the extent permitted by the Administrator, in connection with the
Administrator’s election to credit an Annual Company Discretionary Amount on behalf of the
Participant), a Participant may irrevocably elect to receive a future “Fixed Date Payout” from
the Plan. At that time, the Participant may also irrevocably elect to receive his or her
Annual Deferral Amounts and/or Annual Company Discretionary Amounts subject to the Fixed Date
Payout election(s), plus amounts credited or debited thereto in the manner provided in Section
3.8 above, within sixty (60) days of the elected Fixed Date Payout date regardless of any
intervening Separation from Service. If the Participant does not make an election pursuant to
the immediately preceding sentence,

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to the extent permitted by Section 409A, should the Participant incur a Separation from
Service prior to his or her selected Fixed Date Payout date, amounts otherwise subject to
such Fixed Date Payout election shall not be paid in accordance with this Section 4.1, but
instead shall be paid in accordance with Article 5. Unless the Administrator, in its sole
discretion, permits or requires separate election(s) to be made with respect to the Annual
Base Salary deferral portion, the Incentive Payment deferral portion and/or the Directors
Fee deferral portion of the Annual Deferral Amount and/or with respect to the Annual Company
Discretionary Amount, any election(s) made for a given Plan Year shall apply to the
Participant’s entire Annual Deferral Amount and/or Annual Company Discretionary Amount for
the Plan Year. In addition, except as otherwise required by the Administrator, a
Participant may choose to divide his or her Annual Deferral Amount (or the Annual Base
Salary deferral portion, Incentive Payment deferral portion or Directors Fee deferral
portion thereof, as applicable) and/or the Annual Company Discretionary Amount into two or
more portions (expressed in twenty-five percent (25%) increments) and choose a separate
Fixed Date Payout (or elect to have no Fixed Date Payout) for each portion. Subject to the
Deduction Limitation and to Section 3.10, each Fixed Date Payout shall be a lump sum payment
in an amount that is equal to the selected portion of that year’s Annual Deferral Amount (or
the Annual Base Salary deferral portion, the Incentive Payment deferral portion and/or the
Directors Fee deferral portion thereof, as applicable) and/or Annual Company Discretionary
Amount, and amounts credited or debited thereto in the manner provided in Section 3.8 above,
determined at the time that the Fixed Date Payout becomes payable (rather than the date of a
Separation from Service). Subject to the terms and conditions of this Plan, each Fixed Date
Payout elected shall be paid out within sixty (60) days of the Fixed Date Payout date
elected by the Participant. The Fixed Date Payout date elected by the Participant must be a
July 1 which is approved by the Administrator and which is no earlier than the second July 1
following the Plan Year for which the Annual Deferral Amount (or the Annual Base Salary
deferral portion, the Incentive Payment deferral portion and/or the Directors Fee deferral
portion thereof, as applicable) is deferred, and/or for which the Annual Company
Discretionary Amount is credited. By way of example, at the time a Participant elects to
defer Annual Base Salary and Incentive Payments for 2005, the Participant may also make
Fixed Date Payout election(s) in respect of one or more portions (expressed in twenty-five
percent (25%) increments) of his or her 2005 Annual Deferral Amount, and the earliest Fixed
Date Payout date the Participant may elect for any such portion is July 1, 2007. For
instance, the Participant may choose to receive twenty-five percent (25%) of his or her 2005
Annual Deferral Amount on July 1, 2007, another twenty-five percent (25) on July 1, 2009 and
no Fixed Date Payout with respect to the remaining fifty percent (50%) of his or her 2005
Annual Deferral Amount.

Notwithstanding the preceding sentences or any other provision of this Plan that may be
construed to the contrary, but subject to Section 409A and the procedures established by the
Administrator, a Participant may, with respect to each Fixed Date Payout date, on a form
determined by the Administrator, make one (1) or more additional deferral elections (a
“Subsequent Election”) to defer payment of such Fixed Date Payout date to the July 1 of a
Plan Year subsequent to the Fixed Date Payout date originally (or subsequently) elected;
provided, however, any such Subsequent Election will be null

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and void unless accepted by the Administrator no later than one (1) year prior to the Fixed
Date Payout date which would apply but for the Subsequent Election, and the new Fixed Date
Payout date under such Subsequent Election is at least five (5) Plan Years from the Fixed
Date Payout date which would apply but for the Subsequent Election.

	4.2  	Other Benefits Take Precedence Over Fixed Date Payout. To the extent permitted by
Section 409A, should an event occur that triggers a benefit under Article 5, 6 or 7, any
Annual Deferral Amounts and/or Annual Company Discretionary Amounts, plus amounts credited or
debited thereon, that are subject to a Fixed Date Payout election under Section 4.1 shall not
be paid in accordance with Section 4.1 but shall be paid in accordance with the other
applicable Article; provided, however, if the Participant so elects in accordance with Section
4.1, an intervening Separation from Service prior to a Fixed Date Payout date shall not cause
the payment of benefits subject to the Fixed Date Payout election to be paid in accordance
with Article 5 instead of Section 4.1.
	 
	4.3  	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies. If a
Participant experiences an Unforeseeable Financial Emergency, the Participant may petition the
Administrator to (i) suspend any deferrals required to be made by a Participant (but only to
the extent permitted under Section 409A) and/or (ii) receive a partial or full payout from the
Plan. The payout shall not exceed the lesser of the Participant’s vested Account Balance,
calculated as if such Participant were receiving a Termination Benefit, or the amount
reasonably needed to satisfy the Unforeseeable Financial Emergency plus amounts necessary to
pay taxes reasonably anticipated as a result of the payouts, after taking into account the
extent to which the Unforeseeable Financial Emergency is or may be relieved through
reimbursement or compensation by insurance or otherwise or by liquidation of the Participant’s
assets (to the extent the liquidation of assets would not itself cause severe financial
hardship). A payout under this Section 4.3 shall be permitted solely to the extent permitted
under Code Section 409A. If, subject to the sole discretion of the Administrator, the
petition for a suspension and/or payout is approved, suspension shall take effect upon the
date of approval and any payout shall be made within sixty (60) days of the date of approval.
The payment of any amount under this Section 4.3 shall be subject to Section 3.10, but shall
not be subject to the Deduction Limitation.

ARTICLE 5

Termination Benefits

	5.1  	Termination Benefit. Except as otherwise provided in Section 4.1, a Participant
who incurs a Separation from Service shall receive, as a Termination Benefit, his or her
entire vested Account Balance.
	 
	5.2  	Payment Termination Benefit. Except as provided below, a Participant, in connection
with his or her commencement of participation in the Plan in accordance with Article 2, shall
elect on an Election Form to receive his or her Account Balance in a lump sum, pursuant to a
Yearly Installment Method of five (5), ten (10) or fifteen (15) years or

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	   	pursuant to any other installment schedule selected by the Participant and approved by the
Administrator. Unless the Administrator, in its sole discretion, permits or requires
separate election(s) to be made with respect to the Annual Base Salary deferral portion, the
Incentive Payment deferral portion and/or the Directors Fee deferral portion of the Annual
Deferral Amount for the Plan Year and/or with respect to the Annual Company Discretionary
Amount for the Plan Year, any election made for a given Plan Year shall apply to the
Participant’s entire Annual Deferral Amount and/or Annual Company Discretionary Amount for
the Plan Year. If a Participant does not make any election with respect to the payment of
the Termination Benefit, then such benefit shall be payable in a lump sum.
	 
	   	Unless an election is changed by the Participant as provided below, such Termination Benefit
shall be paid (or shall commence, in the case of installment payments) as soon as
administratively practicable following the close of the calendar quarter of the
Participant’s Separation from Service; provided, however, that any Participant who is a
Specified Employee and who incurs a Separation from Service with the Employer shall not be
entitled to receive any portion of his or her vested Account Balance under this Section
prior to the date which is six (6) months after the date or his or her Separation from
Service (or, if earlier, his or her death).
	 
	   	The Participant may change his or her election to an allowable alternative payout period by
submitting a new Election Form to the Administrator, provided that any such Election Form is
submitted at least one (1) year prior to the Participant’s Separation from Service and, if
required by Section 409A, provides for a distribution (or distribution commencement) date
which is at least five (5) Plan Years from the distribution date then in effect. The
Election Form most recently accepted by the Administrator shall govern the payout of the
Termination Benefit with respect to the portion of the Participant’s Account Balance to
which it pertains.
	 
	   	Notwithstanding anything above or elsewhere in the Plan to the contrary, no change submitted
on an Election Form shall be accepted by the Employer if the change accelerates the time
over which distributions shall be made to the Participant (except as otherwise permitted
Section 409(A)) and the Company shall deny any change made to an election if the
Administrator determines that the change violates the requirement under Section 409A that
the first payment with respect to which such election is made be deferred for a period of
not less than five (5) years from the date such payment would otherwise have been made.

ARTICLE 6

Survivor Benefit

	6.1  	Pre-Termination Survivor Benefit. The Participant’s Beneficiary shall receive a
Pre-Termination Survivor Benefit equal to the Participant’s entire vested Account Balance if
the Participant dies prior to his or her Separation from Service or Disability.

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	6.2  	Payment of Pre-Termination Survivor Benefit. The Pre-Termination Survivor Benefit
shall be paid or commence as soon as administratively practicable following the close of the
calendar quarter which first follows the date on which the Administrator has been provided
with proof that is satisfactory to the Administrator of the Participant’s death. Payments
hereunder shall be made, as elected by the Participant in accordance with Section 409A, in the
form of a lump sum, pursuant to a Yearly Installment Method of five (5), ten (10) or fifteen
(15) years or pursuant to any other installment schedule selected by the Participant and
approved by the Administrator. To the extent permitted by the Administrator and under Section
409A, the Participant’s Beneficiary shall be permitted to change the chosen method of
distribution. Any payment made hereunder shall be subject to Section 3.10, but shall not be
subject to the Deduction Limitation.
	 
	6.3  	Death Prior to Completion of Termination or Disability Benefit. If a Participant
dies after Separation from Service or Disability but before the Termination Benefit or
Disability Benefit is paid in full, the Participant’s unpaid Termination Benefit or Disability
Benefit payments shall continue and shall be paid to the Participant’s Beneficiary over the
remaining number of years and in the same amounts as that benefit would have been paid to the
Participant had the Participant survived. Any payment made hereunder shall be subject to
Section 3.10, but shall not be subject to the Deduction Limitation.

ARTICLE 7

Disability Benefit

	7.1  	Disability Benefit. A Participant suffering a Disability shall receive, as a
Disability Benefit, his or her entire vested Account Balance.
	 
	7.2  	Payment Disability Benefit. Except as provided below, a Participant, in connection
with his or her commencement of participation in the Plan in accordance with Article 2, shall
elect on an Election Form to receive his or her Account Balance in a lump sum, pursuant to a
Yearly Installment Method of five (5), ten (10) or fifteen (15) years or pursuant to any
other installment schedule selected by the Participant and approved by the Administrator.
Unless the Administrator, in its sole discretion, permits or requires separate election(s) to
be made with respect to the Annual Base Salary deferral portion, the Incentive Payment
deferral portion and/or the Directors Fee deferral portion of the Annual Deferral Amount for
the Plan Year and/or with respect to the Annual Company Discretionary Amount for the Plan
Year, any election made for a given Plan Year shall apply to the Participant’s entire Annual
Deferral Amount and/or Annual Company Discretionary Amount for the Plan Year. If a
Participant does not make any election with respect to the payment of the Disability Benefit,
then such benefit shall be payable in a lump sum.
	 
	   	Unless an election is changed by the Participant as provided below, such Disability Benefit
shall be paid (or shall commence, in the case of installment payments) as soon as
administratively practicable following the close of the calendar quarter in which the
Participant is determined to be suffering a Disability.

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	   	The Participant may change his or her election to an allowable alternative payout period by
submitting a new Election Form to the Administrator, provided that any such Election Form is
submitted at least one (1) year prior to the Participant’s Disability. The Election Form
most recently accepted by the Administrator shall govern the payout of the Disability
Benefit with respect to the portion of the Participant’s Account Balance to which it
pertains.
	 
	   	Notwithstanding anything above or elsewhere in the Plan to the contrary, no change submitted
on an Election Form shall be accepted by the Employer if the change accelerates the time
over which distributions shall be made to the Participant (except as otherwise permitted
Section 409(A)).

ARTICLE 8

Beneficiary Designation

	8.1  	Beneficiary. Each Participant shall have the right, at any time, to designate his
or her Beneficiary(ies) (both primary as well as contingent) to receive any benefits payable
under the Plan upon the death of a Participant. The Beneficiary designated under this Plan
may be the same as or different from the Beneficiary designation under any other plan of the
Company in which the Participant participates.
	 
	8.2  	Beneficiary Designation/Change. A Participant shall designate his or her Beneficiary
by completing and signing the Beneficiary Designation Form, and returning it to the
Administrator or its designated agent. A Participant shall have the right to change a
Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary
Designation Form and the Administrator’s rules and procedures, as in effect from time to time.
Upon the acceptance by the Administrator of a new Beneficiary Designation Form, all
Beneficiary designations previously filed shall be canceled. The Administrator shall be
entitled to rely on the last Beneficiary Designation Form filed by the Participant and
delivered to the Administrator prior to his or her death.
	 
	8.3  	Acceptance. No designation or change in designation of a Beneficiary shall be
effective until received and accepted by the Administrator or its designated agent.
	 
	8.4  	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as
provided in Sections 8.1, 8.2 and 8.3 above or, if all designated Beneficiaries predecease the
Participant or die prior to complete distribution of the Participant’s benefits, then the
Participant’s designated Beneficiary shall be deemed to be his or her surviving spouse, or, if
the Participant has no surviving spouse, the benefits remaining under the Plan to be paid to a
Beneficiary shall be payable to the executor or personal representative of the Participant’s
estate.
	 
	8.5  	Doubt as to Beneficiary. If the Administrator has any doubt as to the proper
Beneficiary to receive payments pursuant to this Plan, the Administrator shall have the right,
exercisable in its sole discretion, to cause the Company to withhold such payments until this
matter is resolved to the Administrator’s satisfaction.

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	8.6  	Discharge of Obligations. The payment of benefits under the Plan to a person
believed in good faith by the Administrator to be a valid Beneficiary shall fully and
completely discharge the Company and the Administrator from all further obligations under this
Plan with respect to the Participant, and that Participant’s Plan Agreement shall terminate
upon such full payment of benefits. Neither the Administrator nor the Company shall be
obliged to search for any Participant or Beneficiary beyond the sending of a registered letter
to such last known address. If the Administrator notifies any Participant or Beneficiary that
he or she is entitled to an amount under the Plan and the Participant or Beneficiary fails to
claim such amount or make his or her location known to the Administrator within three (3)
years thereafter, then, except as otherwise required by law, if the location of one or more of
the next of kin of the Participant is known to the Administrator, the Administrator may direct
distribution of such amount to any one or more or all of such next of kin, and in such
proportions as the Administrator determines. If the location of none of the foregoing persons
can be determined, the Administrator shall have the right to direct that the amount payable
shall be deemed to be a forfeiture and paid to the Company, except that the dollar amount of
the forfeiture, unadjusted for deemed gains or losses in the interim, shall be paid by the
Company if a claim for the benefit subsequently is made by the Participant or the Beneficiary
to whom it was payable. If a benefit payable to an unlocated Participant or Beneficiary is
subject to escheat pursuant to applicable state law, neither the Administrator nor the Company
shall be liable to any person for any payment made in accordance with such law.

ARTICLE 9

Leave of Absence

	9.1  	Paid Leave of Absence. If a Participant is authorized by the Company for any
reason to take a paid leave of absence from his or her service to the Company, the Participant
shall continue to be considered employed by, or to serve as a Director of, the Company, and
the Annual Deferral Amount shall continue to be withheld during such paid leave of absence in
accordance with Section 3.4.
	 
	9.2  	Unpaid Leave of Absence. If a Participant is authorized by the Company for any
reason to take an unpaid leave of absence from his or her service to the Company, the
Participant shall continue to be considered employed by, or to serve as Director of, the
Company, and, to the extent permitted under Section 409A, the Participant shall be excused
from making deferrals until the earlier of the date the leave of absence expires or the
Participant returns to a paid service status. Upon such expiration or return, deferrals shall
resume for the remaining portion of the Plan Year in which the expiration or return occurs,
based on the deferral election, if any, made for that Plan Year. If no election was made for
that Plan Year, no deferral shall be withheld.

ARTICLE 10

Termination/Amendment/Modification

	10.1  	Termination. Although the Sponsor anticipates that it will continue the Plan for
an indefinite period of time, there is no guarantee that the Sponsor will continue the Plan or

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will not terminate the Plan at any time in the future. Accordingly, the Sponsor reserves
the right to discontinue its sponsorship of the Plan and/or to terminate the Plan at any
time with respect to any or all of any Company’s participating Employees, by action of the
Board. Upon a complete or partial termination of the Plan, the Plan Agreements of the
affected Participants shall terminate and their vested Account Balances, determined as if
they had experienced a Separation from Service on the date of Plan termination, shall,
subject to Section 10.6, be paid to the Participants in accordance with their distribution
elections in effect at the time of the Plan termination; provided however, if immediate
distribution of a Participant’s Account Balance on termination is not permitted by Section
409A, the payment of the Account Balance shall be made only after Plan benefits otherwise
become due hereunder. The termination of the Plan shall not adversely affect any Participant
or Beneficiary who has become entitled to the payment of any benefits under the Plan as of
the date of termination.

	10.2  	Amendment. The Sponsor, by action of the Board, or (to the extent permitted under
Article 11) the Administrator may, at any time, amend or modify the Plan in whole or in part;
provided, however, that no amendment or modification shall be effective to decrease or
restrict the value of a Participant’s vested Account Balance in existence at the time the
amendment or modification is made, calculated as if the Participant had experienced a
Separation from Service as of the effective date of the amendment or modification. The
amendment or modification of the Plan shall not affect any Participant or Beneficiary who has
become entitled to the payment of benefits under the Plan as of the date of the amendment or
modification; provided, however, that, subject to Section 409A, the Sponsor shall have the
right to accelerate installment payments by paying the vested Account Balance in a lump sum or
pursuant to a Yearly Installment Method using fewer years.
	 
	10.3  	Effect of Payment. The full payment of the applicable benefit under Articles 4, 5, 6
or 7 of the Plan shall completely discharge all obligations to a Participant and his or her
designated Beneficiaries under this Plan and the Participant’s Plan Agreement shall terminate.
	 
	10.4  	Amendment to Ensure Proper Characterization of the Plan . Notwithstanding
the previous Sections of this Article 10, the Plan may be amended at any time, retroactively
if required, or if found necessary, in the opinion of the Administrator, in order to ensure
that the Plan is characterized as a non-tax-qualified “top hat” plan of deferred compensation
maintained for a select group of management or highly compensated employees, as described
under ERISA sections 201(2), 301(a)(3) and 401(a)(1), to conform the Plan to the provisions of
Section 409A and to ensure that amounts under the Plan are not considered to be taxed to a
Participant under the Federal income tax laws prior to the Participant’s receipt of the
amounts or to conform the Plan and the Trust to the provisions and requirements of any
applicable law (including ERISA and the Code).

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	10.5  	Changes in Law Affecting Taxability.

	 	(a)  	Operation. This Section shall become operative upon the enactment of
any change in applicable statutory law or the promulgation by the Internal Revenue
Service of a final regulation or other pronouncement having the force of law, which
statutory law, as changed, or final regulation or pronouncement, as promulgated, would
cause any Participant to include in his or her federal gross income amounts accrued by
the Participant under the Plan on a date (an “Early Taxation Event”) prior to the date
on which such amounts are made available to him or her hereunder; provided, however,
that no portion of this Section shall become operative to the extent that portion would
result in a violation of Section 409A (e.g., by causing an impermissible distribution
under Section 409A).
	 
	 	(b)  	Affected Right or Feature Nullified. Notwithstanding any other Section
of this Plan to the contrary (but subject to subsection (c), below), as of an Early
Taxation Event, the feature or features of this Plan that would cause the Early
Taxation Event shall be null and void, to the extent, and only to the extent, required
to prevent the Participant from being required to include in his or her federal gross
income amounts accrued by the Participant under the Plan prior to the date on which
such amounts are made available to him or her hereunder. If only a portion of a
Participant’s Account Balance is impacted by the change in the law, then only such
portion shall be subject to this Section, with the remainder of the Account Balance not
so affected being subject to such rights and features as if the law were not changed.
If the law only impacts Participants who have a certain status with respect to the
Company, then only such Participants shall be subject to this Section.
	 
	 	(c)  	Tax Distribution. If an Early Taxation Event is earlier than the date
on which the statute, regulation or pronouncement giving rise to the Early Taxation
Event is enacted or promulgated, as applicable (i.e., if the change in the law is
retroactive), there shall be distributed to each Participant, as soon as practicable
following such date of enactment or promulgation, the amounts that became taxable on
the Early Taxation Event.

	10.6  	Prohibited Acceleration/Distribution Timing. This Section shall take precedence over
any other provision of the Plan or this Article 10 to the contrary. No provision of this Plan
shall be followed if following the provision would result in the acceleration of the time or
schedule of any payment from the Plan as would require immediate income tax to Participants
based on the law in effect at the time the distribution is to be made, including Section 409A.
In addition, if the timing of any distribution election would result in any tax or other
penalty (other than ordinarily payable Federal, state or local income or payroll taxes), which
tax or penalty can be avoided by payment of the distribution at a later time, then the
distribution shall be made (or commence, as the case may be) on (or as soon as

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	   	practicable after) the first date on which such distributions can be made (or commence)
without such tax or penalty.

ARTICLE 11

Administration

	11.1  	Administrator Duties. This Plan shall be administered by the Administrator which
shall be the Board, or, with respect to those duties and responsibilities described below, the
committee designated by the Board to perform such duties and responsibilities (the
“Nonqualified Plan Committee”). Members of the Board and the Nonqualified Plan Committee may
be Participants under this Plan. No fee or compensation shall be paid to any person for
services as the Administrator (but this does not prevent the payment of salary otherwise
payable to an Employee of the Company for other services as a Company Employee). The
Administrator shall have the discretion and authority to (i) interpret and enforce all
appropriate rules and regulations for the administration of this Plan and (ii) decide or
resolve any and all questions including interpretations of this Plan, as may arise in
connection with the Plan. Neither any Board member, nor any Nonqualified Plan Committee
member shall vote or act on any matter relating solely to himself or herself. When making a
determination or calculation, the Administrator shall be entitled to rely on information
furnished by a Participant or the Company. Any decisions, actions or interpretations to be
made under the Plan by the Company, the Board or the Administrator shall be made in its
respective sole discretion and need not be uniformly applied to similarly situated
individuals.
	 
	   	Any of the duties and responsibilities of the Administrator under the Plan, including, but
not limited to those listed below, may be performed by the Nonqualified Plan Committee,
except that any decision, interpretation, calculation or other action which would materially
increase the Company’s liability and/or costs associated with the Plan must be approved by
the Board:

	 	(a)  	the Nonqualified Plan Committee may designate those Employees of the Company
who are eligible to participate in the Plan in accordance with Section 2.1;

	 	(b)  	the Nonqualified Plan Committee may make all discretionary decisions under the
Plan with respect to Annual Company Discretionary Amounts; provided, however, that the
Nonqualified Plan Committee may only credit an Annual Company Discretionary Amount
under the Plan on behalf of a Participant without Board approval if, but for the
decision to so credit, the Nonqualified Plan Committee could otherwise have directed,
without Board approval, that the Participant receive an amount equal to the Annual
Company Discretionary Amount in cash;

	 	(c)  	the Nonqualified Plan Committee may administer the claims procedure
requirements of the Plan set forth in Article 13;

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	 	(d)  	the Nonqualified Plan Committee may make Plan amendments under Article 10, but
only to the extent such amendments do not materially increase the Company’s liability
and/or costs associated with the Plan;
	 
	 	(e)  	the Nonqualified Plan Committee may change service providers used in connection
with the Plan;
	 
	 	(f)  	the Nonqualified Plan Committee may allocate expenses associated with the
Plan’s administration among Participants’ Account Balances;
	 
	 	(g)  	the Nonqualified Plan Committee may change the deemed investment alternatives
available under the Plan.

	   	Notwithstanding anything in the Plan or Appendix 1 to the contrary, the above-described
duties and responsibilities of the Administrator, including those designated to the
Nonqualified Plan Committee, shall apply with respect to amounts held under the Plan
applicable to deferrals made on and after January 1, 2005 and also to deferrals made prior
to January 1, 2005 under the Assurant Investment Plan.
	 
	11.2  	Agents. In the administration of this Plan, the Administrator may, from time to
time, employ agents and delegate to them such administrative duties as it sees fit (including
acting through a duly appointed representative) and may from time to time consult with counsel
who may be counsel to the Company.

	11.3  	Binding Effect of Decisions. The decision or action of the Administrator with
respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations promulgated hereunder
shall be final and conclusive and binding upon all persons having any interest in the Plan.
Each Participant, on his or her own behalf and on behalf of his or her respective
Beneficiaries, heirs, representatives and assigns, as a condition of participation in the
Plan, agrees to accept this discretion and authority of the Administrator.

	11.4  	Indemnity of Administrator. The Company shall indemnify and hold harmless the
Administrator (including the individual members of the Board), its appointees and any Employee
to whom the duties of the Administrator may be delegated (including but not limited to the
Nonqualified Plan Committee), against any and all claims, losses, damages, expenses or
liabilities arising from any action or failure to act with respect to this Plan, except in the
case of willful misconduct by the Administrator or any of its members or any such Employee.
This indemnification shall be in addition to, and not in limitation of, any other
indemnification protections of the Administrator by the Company, directly or indirectly.

	11.5  	Company Information. To enable the Administrator to perform its functions, the
Company shall supply full and timely information to the Administrator on all matters relating
to the compensation of the Participants, the date and circumstances of the Disability, death
or Separation from Service of the Participants, and such other pertinent information as the
Administrator may reasonably require.

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ARTICLE 12

Other Benefits and Agreements

	12.1  	Coordination with Other Benefits. The benefits provided for a Participant or a
Participant’s Beneficiary under the Plan are in addition to any other benefits available to
such Participant under any other plan or program for Employees or Directors of the Company.
The Plan shall supplement and shall not supersede, modify or amend any other such plan or
program except as may otherwise be expressly provided.

ARTICLE 13

Claims Procedures

	13.1  	Scope of Claims Procedures. This Article is based on final regulations issued by
the Department of Labor and published in the Federal Register on November 21, 2000 and
codified at 29 C.F.R. section 2560.503-1. If any provision of this Article conflicts with the
requirements of those regulations, the requirements of those regulations will prevail.
	 
	   	For purposes of this Article, references to disability benefit claims are intended to
describe claims made by Participants for Disability Benefits payable pursuant to Article 7,
but only if and to the extent that such claims require an independent determination by the
Administrator that the Participant is or is not suffering from a Disability, within the
meaning of 1.17. If the Administrator’s determination is based entirely on a disability
determination made by another party, such as the Social Security Administration or another
federal or state agency or an insurer with respect to a disability insurance policy covering
the Participant, the Participant’s claim shall not be treated as a disability claim for
purposes of the special provisions of this Article that apply to claims for which an
independent determination of disability is required.

	13.2  	Initial Claim. A Participant or Beneficiary who believes he or she is entitled to
any benefit under the Plan (a “Claimant”) may file a claim with the Administrator. The
Administrator shall review the claim itself or appoint an individual or an entity to review
the claim.

	 	(a)  	Benefit Claims that do not Require a Determination of Disability. If
the claim is for a benefit other than a Disability Benefit, the Claimant shall be
notified within ninety (90) days after the claim is filed whether the claim is allowed
or denied, unless the Claimant receives written notice from the Administrator or
appointee of the Administrator prior to the end of the ninety
(90) day period stating that special circumstances require an extension of the time
for decision, such extension not to extend beyond the day which is one hundred
eighty (180) days after the day the claim is filed.
	 
	 	(b)  	Disability Benefit Claims. In the case of a benefits claim that
requires an independent determination by the Administrator of a Participant’s
Disability status, the Administrator shall notify the Claimant of the Plan’s adverse
benefit determination within a reasonable period of time, but not later than forty-five
(45)

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	 	   	days after receipt of the claim. If, due to matters beyond the control of the
Plan, the Administrator needs additional time to process a claim, the Claimant will be
notified, within forty-five (45) days after the Administrator receives the claim, of
those circumstances and of when the Administrator expects to make its decision but not
beyond seventy-five (75) days. If, prior to the end of the extension period, due to
matters beyond the control of the Plan, a decision cannot be rendered within that
extension period, the period for making the determination may be extended for up to one
hundred five (105) days, provided that the Administrator notifies the Claimant of the
circumstances requiring the extension and the date as of which the Plan expects to
render a decision. The extension notice shall specifically explain the standards on
which entitlement to a Disability Benefit is based, the unresolved issues that prevent
a decision on the claim and the additional information needed from the Claimant to
resolve those issues, and the Claimant shall be afforded at least forty-five (45) days
within which to provide the specified information.
	 
	 	(c)  	Manner and Content of Denial of Initial Claims. If the Administrator
denies a claim, it must provide to the Claimant, in writing or by electronic
communication:

	 	(i)  	The specific reasons for the denial;
	 
	 	(ii)  	A reference to the Plan provision or insurance contract
provision upon which the denial is based;
	 
	 	(iii)  	A description of any additional information or material that
the Claimant must provide in order to perfect the claim;
	 
	 	(iv)  	An explanation of why such additional material or information
is necessary;
	 
	 	(v)  	Notice that the Claimant has a right to request a review of the
claim denial and information on the steps to be taken if the Claimant wishes to
request a review of the claim denial; and
	 
	 	(vi)  	A statement of the Participant’s right to bring a civil action
under ERISA Section 502(a) following a denial on review of the initial denial.

	 	   	In addition, in the case of a denial of Disability Benefits on the basis of the
Administrator’s independent determination of the Participant’s Disability status,
the Administrator will provide a copy of any rule, guideline, protocol, or other
similar criterion relied upon in making the adverse determination (or a statement
that the same will be provided upon request by the Claimant and without charge).

	13.3  	Review Procedures.

	 	(a)  	Benefit Claims that do not Require a Determination of Disability.
Except for claims requiring an independent determination of a Participant’s

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	 	   	Disability
status, a request for review of a denied claim must be made in writing to the
Administrator within sixty (60) days after receiving notice of denial. The decision
upon review will be made within sixty (60) days after the Administrator’s receipt of a
request for review, unless special circumstances require an extension of time for
processing, in which case a decision will be rendered not later than one hundred twenty
(120) days after receipt of a request for review. A notice of such an extension must
be provided to the Claimant within the initial sixty (60) day period and must explain
the special circumstances and provide an expected date of decision.
	 
	 	   	The reviewer shall afford the Claimant an opportunity to review and receive, without
charge, all relevant documents, information and records and to submit issues and
comments in writing to the Administrator. The reviewer shall take into account all
comments, documents, records and other information submitted by the Claimant
relating to the claim regardless of whether the information was submitted or
considered in the initial benefit determination.
	 
	 	(b)  	Disability Benefit Claims. In addition to having the right to review
documents and submit comments as described in (a) above, a Claimant whose claim for
Disability Benefits requires an independent determination by the Administrator of the
Participant’s Disability status has at least one hundred eighty (180) days following
receipt of a notification of an adverse benefit determination within which to request a
review of the initial determination. In such cases, the review will meet the following
requirements:

	 	(i)  	The Plan will provide a review that does not afford deference
to the initial adverse benefit determination and that is conducted by an
appropriate named fiduciary of the Plan who did not make the initial
determination that is the subject of the appeal, nor by a subordinate of the
individual who made the determination.
	 
	 	(ii)  	The appropriate named fiduciary of the Plan will consult with a
health care professional who has appropriate training and experience in the
field of medicine involved in the medical judgment before making a decision
on review of any adverse initial determination based in whole or in part on a
medical judgment. The professional engaged for purposes of a consultation in
the preceding sentence shall not be an individual who was consulted in
connection with the initial determination that is the subject of the appeal
or the subordinate of any such individual.
	 
	 	(iii)  	The Plan will identify to the Claimant the medical or
vocational experts whose advice was obtained on behalf of the Plan in
connection with the review, without regard to whether the advice was relied
upon in making the benefit review determination.

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	 	(iv)  	The decision on review will be made within forty-five (45) days
after the Administrator’s receipt of a request for review, unless special
circumstances require an extension of time for processing, in which case a
decision will be rendered not later than ninety (90) days after receipt of a
request for review. A notice of such an extension must be provided to the
Claimant within the initial forty-five (45) day period and must explain the
special circumstances and provide an expected date of decision.

	 	(c)  	Manner and Content of Notice of Decision on Review. Upon completion of
its review of an adverse initial claim determination, the Administrator will give the
Claimant, in writing or by electronic notification, a notice containing:

	 	(i)  	its decision;
	 
	 	(ii)  	the specific reasons for the decision;
	 
	 	(iii)  	the relevant Plan provisions or insurance contract provisions
on which its decision is based;
	 
	 	(iv)  	a statement that the Claimant is entitled to receive, upon
request and without charge, reasonable access to, and copies of, all documents,
records and other information in the Plan’s files which is relevant to the
Claimant’s claim for benefits;
	 
	 	(v)  	a statement describing the Claimant’s right to bring an action
for judicial review under ERISA Section 502(a); and
	 
	 	(vi)  	if an internal rule, guideline, protocol or other similar
criterion was relied upon in making the adverse determination on review, a
statement that a copy of the rule, guideline, protocol or other similar
criterion will be provided without charge to the Claimant upon request.

	13.4  	Calculation of Time Periods. For purposes of the time periods specified in this
Article, the period of time during which a benefit determination is required to be made begins
at the time a claim is filed in accordance with the Plan procedures without regard to whether
all the information necessary to make a decision accompanies the claim. If a period of time
is extended due to a Claimant’s failure to submit all information necessary, the period for
making the determination shall be tolled from the date the notification is sent to the
Claimant until the date the Claimant responds.

	13.5  	Legal Action. If the Plan fails to follow the claims procedures required by this
Article, a Claimant shall be deemed to have exhausted the administrative remedies available
under the Plan and shall be entitled to pursue any available remedy under ERISA Section 502(a)
on the basis that the Plan has failed to provide a reasonable claims procedure that would
yield a decision on the merits of the claim. A Claimant’s compliance with the foregoing
provisions of this Article is a mandatory prerequisite to a

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	   	Claimant’s right to commence any
legal action with respect to any claims for benefits under the Plan.

ARTICLE 14

Trust

	14.1  	Establishment of the Trust. The Company may establish the Trust, in which event
the Company intends, but is not required, to transfer over to the Trust at least annually such
assets as the Company determines, in its sole discretion, are necessary to provide for its
respective future liabilities created with respect to the Annual Deferral Amounts and Annual
Company Discretionary Amounts for the Participants.

	14.2  	Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan
Agreement shall govern the rights of a Participant to receive distributions pursuant to the
Plan. The provisions of the Trust shall govern the rights of the Company, Participants and
the creditors of the Company to the assets transferred to the Trust. The Company shall at all
times remain liable to carry out its obligations under the Plan.

	14.3  	Distributions from the Trust. The Company’s obligations under the Plan may be
satisfied with Trust assets distributed pursuant to the terms of the Trust, and any such
distribution shall reduce the Company’s obligations under this Plan.

ARTICLE 15

Miscellaneous

	15.1  	Status of Plan. The Plan is intended to be a plan that is not qualified within
the meaning of Code Section 401(a) and that “is unfunded and is maintained by an employer
primarily for the purpose of providing deferred compensation for a select group of management
or highly compensated employees” within the meaning of
ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be administered and
interpreted to the extent possible in a manner consistent with that intent.

	15.2  	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors
and assigns shall have no legal or equitable rights, interests or claims in any property or
assets of the Company. For purposes of the payment of benefits under this Plan, any and all
of the Company’s assets shall be, and remain, the general, unpledged unrestricted assets of
the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and
unsecured promise to pay money in the future.

	15.3  	Company’s Liability. The Company’s liability for the payment of benefits shall be
defined only by the Plan and the Plan Agreement, as entered into between the Company and a
Participant. The Company shall have no obligation to a Participant under the Plan except as
expressly provided in the Plan and his or her Plan Agreement.

	15.4  	Nonassignability. Neither a Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber,

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	   	transfer,
hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable
hereunder, or any part thereof, which are, and all rights to which are expressly declared to
be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual
payment, be subject to seizure, attachment, garnishment or sequestration for the payment of
any debts, judgments, alimony or separate maintenance owed by a Participant or any other
person, be transferable by operation of law in the event of a Participant’s or any other
person’s bankruptcy or insolvency or be transferable to a spouse as a result of a property
settlement or otherwise.
	 
	15.5  	Not a Contract of Employment. The terms and conditions of this Plan shall not be
deemed to constitute a contract of employment between the Company and the Participant.
Subject to any employment agreement to which the Company and the Participant may be parties,
such employment is hereby acknowledged to be an “at will” employment relationship that can be
terminated at any time for any reason, or no reason, with or without cause, and with or
without notice, unless expressly provided in a written employment agreement. Nothing in this
Plan shall be deemed to give a Participant the right to be retained in the service of the
Company, either as an Employee or a Director, or to interfere with the right of the Company to
discipline or discharge the Participant at any time.

	15.6  	Furnishing Information. A Participant or his or her Beneficiary will cooperate with
the Administrator by furnishing any and all information requested by the Administrator and
take such other actions as may be requested in order to facilitate the administration of the
Plan and the payments of benefits hereunder, including but not limited to taking such physical
examinations as the Administrator may deem necessary.

	15.7  	Terms. Whenever any words are used herein in the masculine, they shall be construed
as though they were in the feminine in all cases where they would so apply;
and whenever any words are used herein in the singular or in the plural, they shall be
construed as though they were used in the plural or the singular, as the case may be, in all
cases where they would so apply.

	15.8  	Captions. The captions of the articles, sections and paragraphs of this Plan are for
convenience only and shall not control or affect the meaning or construction of any of its
provisions.

	15.9  	Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and
interpreted according to the internal laws of the State of New York without regard to its
conflicts of laws principles.

	15.10  	Notice. Any notice or filing required or permitted to be given to the Administrator
under this Plan shall be sufficient if in writing and hand-delivered, or sent by registered or
certified mail, to the address below:

Assurant, Inc.

One Chase Manhattan Plaza

New York, NY 10005

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Attn: Plan Administrator, Assurant Deferred Compensation Plan

	   	Such notice shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of the date shown on the postmark on the receipt for registration or certification.
	 
	   	Any notice or filing required or permitted to be given to a Participant under this Plan
shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known
address of the Participant.
	 
	15.11  	Successors. The provisions of this Plan shall bind and inure to the benefit of the
Company and its successors and assigns and the Participant and the Participant’s designated
Beneficiaries.
	 
	15.12  	Spouse’s Interest. The interest in the benefits hereunder of a spouse of a
Participant who has predeceased the Participant shall automatically pass to the Participant
and shall not be transferable by such spouse in any manner, including but not limited to such
spouse’s will, nor shall such interest pass under the laws of intestate succession.
	 
	15.13  	Validity. In case any provision of this Plan shall be illegal or invalid for any
reason, said illegality or invalidity shall not affect the remaining parts hereof, but this
Plan shall be construed and enforced as if such illegal or invalid provision had never been
inserted herein.
	 
	15.14  	Incompetent. If the Administrator determines in its discretion that a benefit under
this Plan is to be paid to a minor, a person declared incompetent or to a person incapable of
handling the disposition of that person’s property, the Administrator may direct
payment of such benefit to the guardian, legal representative or person having the care and
custody of such minor, incompetent or incapable person. The Administrator may require proof
of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to
distribution of the benefit. Any payment of a benefit shall be a payment for the account of
the Participant and the Participant’s Beneficiary, as the case may be, and shall be a
complete discharge of any liability under the Plan for such payment amount.
	 
	15.15  	Court Order. The Administrator is authorized to make any payments directed by court
order in any action in which the Plan or the Administrator has been named as a party. In
addition, if a court determines that a spouse or former spouse of a Participant has an
interest in the Participant’s benefits under the Plan in connection with a property settlement
or otherwise, the Administrator, in its sole discretion, shall have the right, notwithstanding
any election made by a Participant, to immediately distribute the spouse’s or former spouse’s
interest in the Participant’s benefits under the Plan to that spouse or former spouse in
accordance with Section 409A.
	 
	15.16  	Distribution in the Event of Taxation.

	 	(a)  	In General. Subject to Section 409A, if, for any reason, all or any
portion of a Participant’s benefits under this Plan becomes taxable to the Participant
prior to

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	 	   	receipt, the Participant may petition the Administrator, for a distribution of
that portion of his or her benefit that has become taxable. Upon the grant of such a
petition, which grant shall not be unreasonably withheld, the Company shall distribute
to the Participant immediately available funds in an amount equal to the taxable
portion of his or her benefit (which amount shall not exceed a Participant’s unpaid
vested Account Balance under the Plan). If the petition is granted, the tax liability
distribution shall be made within ninety (90) days of the date when the Participant’s
petition is granted. Such a distribution shall affect and reduce the Participant’s
benefits to be paid under this Plan.

	 	(b)  	Trust. If the Trust terminates in accordance with the provisions of
the Trust and benefits are distributed from the Trust to a Participant in accordance
with such provisions, the Participant’s benefits under this Plan shall be reduced to
the extent of such distributions.

	15.17  	Insurance. The Company, on its own behalf or on behalf of the trustee of the Trust,
and, in its sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as the Company may choose. The Company or the
trustee of the Trust, as the case may be, shall be the sole owner and beneficiary of any such
insurance. The Participant shall have no interest whatsoever in any such policy or policies,
and at the request of the Company shall submit to medical examinations and supply such
information and execute such documents as may be required by the insurance company or
companies to whom the Company has
applied for insurance. This provision shall not be construed as Participant consent for the
purchase of insurance hereunder.

	15.18  	Aggregation of Employers. To the extent required under Section 409A, if the Company
is a member of a controlled group of corporations or a group of trades or business under
common control (as described in Code §§414(b) or (c)), all members of the group shall be
treated as a single Company for purposes of whether there has occurred a Separation from
Service and for any other purposes under the Plan as Section 409A shall require.

     IN WITNESS WHEREOF, the Sponsor has signed this Plan document as of March 1, 2005.

	 	 	 	 	 
	 	 	ASSURANT, INC.
	 
	 	 	 	 
	

	 	By:
	 	/s/ Robert Haertel
	

	 	 	 	 
	 
	 	 	Title: Senior Vice President – Assurant, Inc.

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APPENDIX 1: PLAN PROVISIONS GOVERNING PRE-2005 DEFERRALS

Notwithstanding anything in the preceding provisions of the Plan to the contrary, the
following shall govern the terms of the Plan as applicable to amounts deferred or contributed under
the Plan prior to January 1, 2005.

ASSURANT INVESTMENT PLAN

PLAN DOCUMENT

	1.  	Purpose of the Plan. This plan shall be known as the Assurant Investment Plan. The
purpose of the Plan is to provide the benefits of an option plan in order to attract and
retain the highest quality employees for positions of substantial responsibility and to
provide additional incentives to designated officers and employees of Assurant, Inc. and its
subsidiaries and affiliates, thereby promoting the continued success of the Company.
	 
	2.  	Definitions. As used herein, the following definition shall apply:

	 	(a)  	“Administrator” shall mean the Board, or the person or persons appointed by
the Board to serve under paragraph 16, below.
	 
	 	(b)  	“Award Date” shall mean the effective date of the Participant’s Option
agreement, which, in the event of a Substitution, shall be the effective date of the
new Option granted pursuant to the Substitution.
	 
	 	(c)  	“Board” shall mean the Board of Directors of Fortis, Inc.
	 
	 	(d)  	“Code” shall mean the Internal Revenue Code of 1986, as amended.
	 
	 	(e)  	“Company” shall mean Fortis, Inc. and its subsidiaries and affiliates.
	 
	 	(f)  	“Employee” shall mean any employee of the Company or member of the Board.
	 
	 	(g)  	“Option” shall mean an option granted pursuant to this Plan to purchase one or
more Shares.
	 
	 	(h)  	“Option Agreement” means the written agreement evidencing the award of an
Option under the Plan.
	 
	 	(i)  	“Participant” shall mean any Employee who receives an Option under the Plan,
as evidenced by an Option Agreement entered into between such Employee and Assurant,
Inc.
	 
	 	(j)  	“Plan” shall mean the Assurant Investment Plan, as amended from time to time.
	 
	 	(k)  	“Retirement” shall mean normal retirement as defined in the Company’s then
current tax qualified deferred benefit pension plan, or if there is no such retirement
plan · “Retirement”
shall mean voluntary termination of employment after age 55 with ten or more years
service.

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ASSURANT INVESTMENT PLAN

	 	(l)  	“Shares” shall mean the shares of mutual funds, shares of common or preferred
stock of a corporation listed or reported on a national securities exchange or
quotation system, or shares of a regulated investment company, as designated and
amended by the
	 
	 	   	Administrator and referenced in Appendix A. Shares may include stock or other equity
interest or bonds in Assurant, Inc. or any company related to Assurant, Inc. if so
permitted by the Board. In no way, however, may Shares include units of any money
market funds or other cash equivalents. Shares subject to purchase pursuant to any
Option shall also include any earnings and appreciation on such shares subsequent to
the Award Date.
	 
	 	   	If Participant does not select a specific share, the share subject to the Option
shall be the shares selected by the Administrator.
	 
	 	(m)  	“Substitution” shall mean all exchanges of shares made within a single day.
	 
	 	(n)  	“Termination of Employment” shall mean an Employee’s separation from the
service of the Company by reason of retirement, resignation, discharge, death,
disability or other termination. The Administrator may, in its discretion, determine
whether any leave or other absence from service constitutes a Termination of Employment
for purposes of the Plan.

	3.  	Term of Plan. The Plan shall become effective on the date it is adopted by the Board
and shall continue in effect as amended from time to time until terminated pursuant to
paragraph 18.

	4.  	Shares Subject to the Plan. The aggregate number and type of Shares subject to
Options will be fully described in each Option Agreement.

	5.  	Eligibility. Employees of the Company who are designated as eligible and selected for
inclusion in the Plan by the Administrator may receive Options under the Plan.

	6.  	Grant of Options. The Administrator shall determine the number of Shares to be
offered from time to time pursuant to Options granted under the Plan. The grant of Options
shall be evidenced by written Option Agreements containing such terms and provisions as are
approved by the Administrator, including, but not limited to, the type and number of Shares
subject to the Option and the Option Price as of the date of grant. The Administrator shall
execute the Option Agreements on behalf of the Company upon instructions from the Board.

	7.  	Time of Grant of Options. The date of grant of an Option under the Plan shall, for
all purposes, be the date on which the Administrator awards the Option, as evidenced by the
date set forth in Appendix A of the Option Agreement.

	8.  	Option Price. The Option Price for each Share shall be expressed in each Option
Agreement, provided, however, the Option Price shall be no lower than 25 percent of the fair
market value of a
	 
	   	Share on the Award Date. Fair market value on any day of reference shall be the closing
price of the Share on such date, unless the Administrator, in its sole discretion shall
determine otherwise in a fair and uniform manner. Upon a request to exercise any Option, the
Option Price required to be paid by the Participant shall be the greater of 25 percent of
the fair market value on the Award Date or 50 percent of the fair market value of the Shares
on the exercise date. For this purpose, the closing price of the Share on any business day
shall be (i) if the Share is listed or admitted for trading on an}’ United States national
securities exchange, the last reported sale price of the Share on such exchange, as reported
in any newspaper of general circulation, (ii) if the Share is not listed

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ASSURANT INVESTMENT PLAN

	  	or admitted for trading on any United States national securities exchange, the average of
the high and low sale prices of the Share for such day reported on The Nasdaq SmallCap
Market or a comparable consolidated transaction reporting system, or if no sales are
reported for such day, such average for the most recent business day within five business
days before such day which sales are reported, or (iii) if neither clause (i) nor (ii) is
applicable, the average between the lowest bid and highest asked quotations for the Share on
such day as reported by The Nasdaq SmallCap Market or the National Quotation Bureau,
Incorporated, if at least two securities dealers have inserted both bid and asked quotations
for the Share on at least 5 of the I0 preceding business days.
	 
	9.  	Exercise. Except as otherwise provided in an Option Agreement, all Options granted
under the Plan shall be vested at grant and therefore may be exercisable immediately, unless
stated otherwise by the Administrator.
	 
	   	The Option may be exercised in thousand dollar increments or in its entirety at any time
during the period beginning from the date of the grant as determined by the Option Agreement
and ending on the date specified in the Option Agreement. The Participant will be allowed to
request to exercise all or part of their Option(s) twice per calendar year with all
reasonable distribution fees paid by the Company. Additional distributions will need the
written approval of the Administrator, in its sole discretion, and the Participant will be
required to pay all associated fees.
	 
	   	If cash dividends are paid on the Shares subject to an Option, such dividend will be
reinvested in property of the same kind. Earnings, including dividends, shall be attributed
proportionally to the property subject to the Option awards and will be purchased when the
underlying award is exercised. For example, if an original grant of an Option to purchase
500 shares (after the payment of the exercise price) generated 100 additional shares on such
500 shares from reinvested dividends, an exercise of one-fourth of the originally granted
Options will result in the purchase (after the payment of the exercise price) of 150 shares
in order to proportionally include the resulting reinvested dividends. In the event of a
noncash distribution stock dividend, stock split recapitalization or similar transaction
that affects the market value of Shares subject to an Option, then the Option Price will be
adjusted to maintain the same ratio of Option Price to Fair Market Value that existed prior
to such transaction.
	 
	   	In addition, all Options granted under the Plan may only be exercised subject to any other
terms specified in the Option Agreement and if such terms conflict with the terms of this
Plan, the terms of the Option Agreement control.
	 
	10.  	Limitations on Option Disposition. Any Option granted under the Plan and the rights
and privileges conferred therewith shall not be sold, transferred. encumbered, hypothecated or
otherwise anticipated by the Participant other than by will or the laws of descent and
distribution. Options shall not be subject to, in whole or in part, the debts, contracts,
liabilities, or torts of the Participant, nor shall they be subject to garnishment,
attachment, execution, levy or other legal or equitable process.
	 
	11.  	Limitations on Option Exercise and Distribution. In the event that the listing,
registration or qualification of an Option or Shares on any securities exchange or under any
state or federal law, or the consent of approval of any governmental regulatory body, or the
availability of any exemption therefrom, is necessary as a condition of, or in connection
with, the exercise of an Option, then the Option shall not be exercised in whole or in part
until such listing, registration, qualification, consent or approval has been effected or
obtained. Notwithstanding any provision of the Plan to the contrary, the Company shall have no
obligation or liability to deliver any Shares under the Plan

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ASSURANT INVESTMENT PLAN

	   	unless such delivery would comply with all applicable laws and all applicable requirements,
of any securities exchange or similar entity.
	 
	12.  	Option Financing. Upon the exercise of any Option granted under the Plan, the
Participant may instruct the Administrator to sell or deem to sell a number of Shares
otherwise deliverable to the Participant and attributable to the exercise of the Option in
order to pay the exercise price of the Option. The Administrator may, in its sole discretion,
make financing available to the Participant to facilitate the exercise of the Option, subject
to such terms as the Administrator may specify.
	 
	13.  	Withholding of Taxes. The Administrator may make such provisions and take such steps
as it may deem necessary or appropriate for the withholding of any taxes which the Company is
required by any law or regulation of any governmental authority, whether federal, state or
local, domestic or foreign, to withhold in connection with any Option including, but not
limited to, the withholding of the issuance of all or any portion of such Shares until the
Participant reimburses the Company for the amount the Company is required to withhold with
respect to such taxes, canceling any portion of such issuance in an amount sufficient to
reimburse itself for the amount it is required to so withhold, or taking any other action
reasonably required to satisfy the Company’s withholding obligation.
	 
	14.  	Modification of Option or Plan. At any time and from time to time, the Administrator
may execute an instrument providing for the modification, extension, or renewal of any
outstanding Option or the Option Plan.
	 
	15.  	Substitution of Option. If a Participant has been granted an Option to purchase
Shares under an Option Agreement, then except as limited by the terms of the Option Agreement,
the Participant may direct that the Option be converted into an Option to purchase other
Shares as permitted by the Option Agreement.
	 
	   	The date of such Substitution shall result in a new Award Date for purposes of determining
the exercise price of the grant.
	 
	   	In no event shall a participant be permitted to make Substitutions more often than 12 times
within a calendar year.
	 
	16.  	Administration of the Plan. The Administrator, in its sole discretion, is authorized
to select the Employees who will receive Options and to determine the number of Options and
the number of Shares under each Option. The Board, or the person or persons appointed by the
Board to serve as Administrator, shall be the Administrator of the Plan. The Administrator, in
its sole discretion, is authorized to interpret the Plan, to prescribe, amend and rescind
rules and regulations relating to the Plan and to the Options granted under the Plan, to
determine the form and content of Options to be issued under the Plan, and to make such other
determinations and exercise such other power and authority as may be necessary or advisable
for the administration of the Plan. No fee or compensation shall be paid to any person for
services as the Administrator (but this does not prevent the payment of salary otherwise
payable to an employee of Assurant, Inc. for other services as a Assurant, Inc. employee). The
Administrator in its sole discretion may delegate and pay compensation for services rendered
relating to the ministerial duties of plan administration including, but not limited to,
selection of investments available under the Plan. Any determination made by the Administrator
pursuant to the powers set forth herein are final, binding and conclusive upon each
Participant and upon any other person affected by such decision, subject to the claims
procedure hereinafter set forth. The Administrator shall decide any question which may arise
regarding the rights of employees, Participants and beneficiaries and the amounts of their
respective interests, adopt such rules and to exercise such powers as the Administrator may
deem

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ASSURANT INVESTMENT PLAN

	   	necessary for the administration of the Plan, and exercise any other rights, powers or
privileges granted to the Administrator by the terms of the Plan. The Administrator’s
interpretations and determinations under the Plan and the Option Agreement shall be
conclusive and binding on all parties with an interest in the
	 
	   	Plan. The Administrator shall maintain full and complete records of its decisions. Its
records shall contain all relevant data pertaining to the Participant and his rights and
duties under the Plan. The Administrator shall have the duty to assure Account records are
maintained for all Participants. The Administrator shall cause the principal provisions of
the Plan to be communicated to the Participants and a copy of the Plan and other documents
shall be available at the principal office of the Company for inspection by the Participants
at reasonable times as determined by the Administrator.
	 
	17.  	Continued Employment Not Presumed. Nothing in the Plan or any document describing it
nor the grant of an Option via an Option Agreement shall give any Participant the right to
continue in employment with the Company or affect the right of’ the Company to terminate the
employment of’ any such person, with or without cause.
	 
	18.  	Amendment and Termination of’ the Plan or Option Agreement. The Board, in its sole
discretion, may amend, suspend or discontinue the Plan.
	 
	19.  	Governing Law. The Plan shall be governed by and construed in accordance with the
laws of’ the State of New York.
	 
	20.  	Severability of Provisions. Should any provision of the Plan be determined to be
invalid, illegal or unenforceable, such invalidity, illegality or unenforceability shall not
affect the remaining provisions of the Plan, but shall be fully severable, and the Plan shall
be construed and enforced as if such provision had never been inserted herein.
	 
	21.  	Establishment of Trust. In its sole discretion, Assurant, Inc. (or any other
participating employer in the Plan) may establish, in connection with the Plan, a trust,
designed to be a grantor trust, within the meaning of Section 671 of the Code. Notwithstanding
any other provision of the Plan, the assets of any such trust shall remain the property of the
employer, grantor and will be subject to the claims of its creditors in the event of its
bankruptcy or insolvency.
	 
	22.  	Claims Procedure. In general, any claim for benefits under the Plan shall be filed by
the Participant or beneficiary (“claimant”) on the form prescribed for such purpose with the
Administrator. If a claim for benefits under the Plan is wholly or partially denied, notice of
the decision shall be furnished to the claimant by the Administrator within a reasonable
period of time after receipt of the claim by the Administrator. The claims procedure shall be
as follows:

	 	(a)  	Any claimant who is denied a claim for benefits shall be furnished written
notice setting forth:

	 	(i)  	the specific reason or reasons for the denial;
	 
	 	(ii)  	specific reference to the pertinent provision of the Plan upon which
the denial is based;
	 
	 	(iii)  	a description of any additional material or information –necessary
for the claimant to perfect the claim: and

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ASSURANT INVESTMENT PLAN

	 	(iv)  	an explanation of the claim review procedure under the Plan.

	 	(b)  	In order that a claimant may appeal a denial of a claim, the claimant or the
claimant’s duly authorized representative may:

	 	(i)  	request a review by written application to the Administrator, or its
designate, no later than sixty (60) days after receipt by the claimant of
written notification of denial of a claim;
	 
	 	(ii)  	review, pertinent documents, and
	 
	 	(iii)  	submit issues and comments in writing.

	 	(c)  	A decision on review of a denied claim shall be made not later than sixty(60)
days after receipt of a request for review, unless special circumstances require an
extension of time for processing, in which case a decision shall be tendered within a
reasonable period of time, but not later than one hundred and twenty (120) days after
receipt of a request for review. The decision on a review shall be in writing and shall
include the specific reason(s) for the decision and the specific reference(s) to the
pertinent provisions of the Plan on which the decision is based.

	23.  	Designation of Beneficiary. A Participant, by filing the prescribed form with the
Administrator, may designate one or more beneficiaries and successor beneficiaries who shall
be given the right to exercise Options in accordance with the terms of the Plan, in the event
of the Participant’s death. In the event the Participant does not file a form designating one
or more beneficiaries, or no designated beneficiary survives the Participant, the Option shall
be exercisable by the individual to whom such right passes by will or the laws or descent and
distribution.

	24.  	Unsecured Promise. The obligation of the Company to deliver Shares subject to the
Options granted under this Plan constitutes an unsecured promise of the Company to fulfill
such obligations and any property of the Company that may be set aside to permit it to fulfill
such obligations under the Plan shall, in the event of the Company’s bankruptcy or insolvency,
remain subject to the claims of the Company’s general creditors until such Options are
exercised.

	25.  	Intent. The Plan is not intended to be a plan described in Sections 401(a) or 457 of
the Code. The obligation of the Company to deliver Shares subject to the Options granted under
this Plan constitutes nothing more than an unsecured promise of the Company to fulfill such
obligations and any property of the Company that may be set aside, to permit it to fulfill
such obligations under the Plan shall in the event of the Company’s bankruptcy or insolvency,
remain subject to the claims of the Company’s general creditors until such Options are
exercised.
	 
	   	As evidence of its adoption of the Plan, Assurant, Inc. has caused this instrument to be
signed by its officer of representative duly authorized on this ___day of ___,
2000.

	 	 	 	 	 	 	 
	 	 	Fortis, Inc.	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	

	 	 
	

	 	 	 	J. Kerry Clayton	 	 
	 
	 	 	 	 	 	 
	 	 	Title: President & CEO	 	 

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Assurant Deferred Compensation Plan

Plan Document continued...

APPENDIX A TO ASSURANT INVESTMENT PLAN

Shares Available to the Company for Grant or Substitution

Description

Fortis Fund Family

AIM Family of Funds

Fidelity Advisor Funds

Putnam Fund Family

Warburg Pincus Fund Family

39

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