Document:

exv10w52

 

Nabi Biopharmaceuticals

EXHIBIT 10.52

STATEMENT UNDER SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned officers of Nabi Biopharmaceuticals (the “Company”) hereby
certify that, as of the date of this statement, the Company’s quarterly report
on Form 10-Q for the quarter ended September 28, 2002 (the “Report”) fully
complies with the requirements of section 13(a) of the Securities Exchange Act
of 1934 and that information contained in the Report fairly presents, in all
material respects, the financial condition and results of the Company as of and
for the three- and nine-month periods ended September 28, 2002.

The purpose of this statement is solely to comply with Title 18, Chapter 63,
Section 1350 of the United States Code, as amended by Section 906 of the
Sabarnes-Oxley Act of 2002. This statement is not “filed” for the purposes of
Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the
liabilities of that Act or any other federal or state law or regulation.

	 	 	 
	Date: October 30, 2002	 	/s/ David J. Gury
	 	 	

	 	 	
Name: David J. Gury
	 	 	
Title: Chief Executive Officer
	 	 	 
	Date: October 30, 2002	 	/s/ Mark L. Smith
	 	 	

	 	 	
Name: Mark L. Smith
	 	 	
Title: Chief Financial Officer

21<PAGE>
                                                                     EXHIBIT 4.1

                               AMENDMENT NO. 1 TO
                     SHAREHOLDER PROTECTION RIGHTS AGREEMENT

         Amendment No. 1, dated as of October 28, 2002, to the Shareholder
Protection Rights Agreement, dated as of August 21, 1998 (the "Agreement"),
between IRT Property Company, a Georgia corporation (the "Company"), and
SunTrust Bank, Atlanta, as Rights Agent (the "Rights Agent").

                               W I T N E S S E T H

         WHEREAS, the Company proposes to enter into an Agreement and Plan of
Merger, dated as of October 28, 2002 (the "Merger Agreement"), with Equity One,
Inc., a Maryland corporation; and

         WHEREAS, the Board of Directors of the Company has determined that it
is necessary and desirable to amend, pursuant to Section 5.4 of the Agreement,
the Agreement to comply with the terms of the Merger Agreement, and a majority
of the Continuing Directors, at a meeting of such Board duly called and held on
October 28, 2002, voted in favor of the adoption of this Amendment.

         NOW, THEREFORE, in consideration of the foregoing, the mutual
agreements herein set forth and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

         1.       Section 1.1 of the Agreement under the definition of
"Acquiring Person" is hereby amended by adding the following sentence at the end
thereof:

         "Notwithstanding the foregoing, no Person shall become an 'Acquiring
         Person' as the result of the execution and delivery of, or the
         consummation of any of the transactions contemplated by, each of the
         Agreement and Plan of Merger dated as of October 28, 2002 among Equity
         One, Inc., a Maryland corporation, and the Company (the "Merger
         Agreement"), the Voting Agreements, dated as of the date of the Merger
         Agreement, among the Company and certain principal shareholders of
         Equity One, Inc. (the EQY Voting Agreements") and the Voting
         Agreements, dated as of the date of the Merger Agreement, among Equity
         One, Inc. and certain principal shareholders of the Company (together
         with the EQY Voting Agreements, the "Voting Agreements")."

         2.       Section 1.1 of the Agreement under the definition of
"Beneficial Owner" is hereby amended by adding the following sentence at the end
thereof:

         "Notwithstanding the foregoing, no Person shall be deemed the
         'Beneficial Owner' of, or to 'Beneficially Own', any securities on
         account of the execution and delivery of the Merger Agreement and the
         Voting Agreements or the consummation of the transactions contemplated
         thereby."

<PAGE>

         3.       Section 1.1 of the Agreement under the definition of
"Separation Time" is hereby amended by adding the following sentence at the end
thereof:

         "Notwithstanding the foregoing, no announcement of the execution and
         delivery of the Merger Agreement or of the calling of a shareholders
         meeting to approve and adopt the Merger Agreement nor the filing of the
         Joint Proxy Statement (as defined in the Merger Agreement) or any
         amendment thereto nor any distribution of the prospectus contained
         therein nor any other action taken to facilitate the consummation of
         any of the transactions contemplated by the Merger Agreement and the
         Voting Agreements shall be deemed the publication, sending or giving of
         a tender offer or exchange offer for the purposes of this Agreement."

         4.       Section 1.1 of the Agreement under the definition of
"Expiration Time" is hereby deleted in its entirety and the following is
substituted in lieu thereof:

         "'Expiration Time' shall mean the earliest of (i) the Exchange Time,
         (ii) the Redemption Time, (iii) August 31, 2008 and (iv) the Effective
         Time (as defined in the Merger Agreement)."

         5.       Section 5.14 of the Agreement is hereby amended by adding a
new sentence to the end as follows:

         "The execution and delivery of and the consummation of the transactions
         contemplated by the Merger Agreement and Amendment No. 1 to this
         Agreement have been approved as of October 28, 2002 by all members of
         the Board of Directors of the Company for all purposes under this
         Section 5.14."

         6.       Terms used herein without definition shall have the meanings
assigned to them in the Agreement. Other than as amended hereby, all other
provisions of the Agreement shall remain in full force and effect.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and attested as of the day and year first above written.

                                          IRT PROPERTY COMPANY

                                          By:      /s/  Thomas H. McAuley
                                               --------------------------------

                                          Title:   Chief Executive Officer

                                          SUNTRUST BANK, ATLANTA

                                          By:      /s/  Sue Hampton
                                             ----------------------------------

                                          Title:   Vice President
                                                  -----------------------------Exhibit 4.1

October 30, 2002

Securities and Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington, D.C. 20549

Dear Sirs/Madams:

We have read Item 4 of M.B.A. Holdings, Inc.'s Amended Form 8-K dated October
30, 2002, and we agree with the statements made therein.

Yours truly,

/s/ DELOITTE & TOUCHE LLP
Phoenix, Arizona<PAGE>

                                                                    Exhibit 10-H

                   DANA CORPORATION SUPPLEMENTAL BENEFITS PLAN

                                    ARTICLE I
                                   DEFINITIONS

     1.1. "Benefit Payment Period" means the one of the following that applies
to the particular Employee or Recipient:

          (a)  For an Employee or Recipient who is receiving payments for the
               remainder of a term certain period, Benefit Payment Period means
               the remainder of such term certain period.

          (b)  For an Employee or Recipient who is receiving payments for his or
               her remaining lifetime, the Benefit Payment Period is the Life
               Expectancy of the Employee or Recipient.

          (c)  For an Employee or Recipient who is receiving payments for his or
               her remaining lifetime plus payments for the lifetime of a
               Contingent Annuitant, the Benefit Payment Period is the Life
               Expectancy of the Employee or Recipient plus an additional period
               to reflect the Life Expectancy of the Contingent Annuitant after
               the death of the Employee or Recipient.

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

     1.3. "Change in Control" shall mean the first to occur of any of the
following events:

          (a)  any Person is or becomes the Beneficial Owner, directly or
               indirectly, of securities of the Company (not including in the
               securities Beneficially Owned by such Person any securities
               acquired directly from the Company or its Affiliates)
               representing 20% or more of the combined voting power of the
               Company's then outstanding securities, excluding any Person who
               becomes such a Beneficial Owner in connection with a transaction
               described in clause (1) of paragraph (c) below; or

          (b)  the following individuals cease for any reason to constitute a
               majority of the number of directors then serving: individuals
               who, on December 8, 1997, constitute the Board and any new
               director whose appointment or election by the Board or nomination
               for election by the Company's stockholders was approved or
               recommended by a vote of at least two-thirds (2/3) of the
               directors then still in office who either were directors on
               December 8, 1997 or whose appointment, election or nomination for
               election was previously so approved or recommended. For purposes
               of the preceding sentence, any director whose initial assumption
               of office is in connection with an actual or threatened election
               contest relating to the election of directors of the Company,
               including but not limited to a consent solicitation, relating to
               the directors of the Company, shall not be treated as having
               received the requisite approval or recommendation; or

          (c)  there is consummated a merger, consolidation, share exchange or
               similar corporate transaction involving the Company or any direct
               or indirect Subsidiary of the Company with any other corporation,
               other than (1) a transaction which would result in the voting
               securities of the Company outstanding immediately prior to such
               transaction continuing to represent (either by remaining
               outstanding or by being converted into voting securities of the
               surviving entity or the ultimate

                                       40
<PAGE>

               parent thereof) at least 50% of the combined voting power of the
               securities of the Company or such surviving entity or the
               ultimate parent thereof outstanding immediately after such
               transaction, or (2) a transaction effected to implement a
               recapitalization of the Company (or similar transaction) in which
               no Person is or becomes the Beneficial Owner, directly or
               indirectly, of securities of the Company (not including in the
               securities Beneficially Owned by such Person any securities
               acquired directly from the Company or its Affiliates)
               representing 20% or more of the combined voting power of the
               Company's then outstanding securities; or

          (d)  the stockholders of the Company approve a plan of complete
               liquidation or dissolution of the Company or there is consummated
               an agreement for the sale or disposition by the Company of all or
               substantially all of the Company's assets, other than a sale or
               disposition by the Company of all or substantially all of the
               Company's assets to an entity, at least 50% of the combined
               voting power of the voting securities of which are owned by
               stockholders of the Company in substantially the same proportions
               as their ownership of the Company immediately prior to such sale.

          For purposes of this "Change in Control" definition, the following
          terms shall have the following meanings:

          "Affiliate" shall mean a corporation or other entity which is not a
          Subsidiary and which directly, or indirectly, through one or more
          intermediaries, controls, or is controlled by, or is under common
          control with, the Company. For the purpose of this definition, the
          terms "control", "controls" and "controlled" mean the possession,
          direct or indirect, of the power to direct or cause the direction of
          the management and policies of a corporation or other entity, whether
          through the ownership of voting securities, by contract, or otherwise.

          "Beneficial Owner" or "Beneficially Owned" shall have the meaning set
          forth in Rule 13d-3 under the Exchange Act.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, as
          amended from time to time.

          "Person" shall have the meaning given in Section 3(a)(9) of the
          Exchange Act, as modified and used in Sections 13(d) and 14(d)
          thereof, except that such term shall not include (a) the Company or
          any of its Subsidiaries, (b) a trustee or other fiduciary holding
          securities under an employee benefit plan of the Company or any of its
          Affiliates, (c) an underwriter temporarily holding securities pursuant
          to an offering of such securities, or (d) a corporation owned,
          directly or indirectly, by the stockholders of the Company in
          substantially the same proportions as their ownership of stock of the
          Company.

          "Subsidiary" shall mean a corporation or other entity, of which 50% or
          more of the voting securities or other equity interests is owned
          directly, or indirectly through one or more intermediaries, by the
          Company.

     1.4. "Code" means the Internal Revenue Code of 1986, as amended, or as it
     may be amended from time to time.

     1.5. "Company" means Dana Corporation, a corporation organized under the
     laws of the Commonwealth of Virginia.

     1.6. "Contingent Annuitant" means the person designated to receive
     retirement benefits under this Plan following the death of the Employee or
     a Recipient.

                                       41
<PAGE>

     1.7. "Credited Service" means "Credited Service" as that term is defined in
     the Retirement Income Plan.

     1.8. "Effective Date" means September 1, 1988.

     1.9. "Employee" means an individual who is a participant (including a
     retired participant) in a funded, defined benefit pension plan maintained
     by the Company, or any successor plan that may be adopted or substituted
     for such plan if, and only if, (a) the individual is actually employed by
     the Company on September 1, 1988, and (b) the individual is a U.S.-based
     member of the long-term awards group as of September 1, 1988, under the
     Dana Corporation Additional Compensation Plan.

     1.10. "Excess Plan" means the Dana Corporation Excess Benefits Plan, as
     amended from time to time.

     1.11. "Highest Average Monthly Earnings" means the sum of:

          (a)  the Employee's basic salary (before any reduction as a result of
               an election to have his pay reduced in accordance with a
               "cafeteria plan" or a "cash or deferred arrangement" pursuant to
               Section 125 or Section 401(k) of the Code), and

          (b)  bonuses and incentive payments paid (or that would have been
               paid, but for a deferral arrangement) to the Employee (provided,
               however, that with respect to 1994 and subsequent years' bonus
               awards under the Company's Additional Compensation Plan, only
               that portion of the Employee's bonus award as does not exceed
               125% of his base salary will be considered)

during any 3 calendar years out of the last 10 calendar years of active
employment with the Company prior to retirement in which such sum was the
highest, divided by 36.

     1.12. "Life Expectancy" means the expected remaining lifetime based on the
     Mortality Table and the age at the nearest birthday of the Employee or
     Recipient at the date the Lump Sum Payment is made. If a joint and
     contingent survivor annuity has been elected, then Life Expectancy shall
     reflect the joint Life Expectancies of the Employee or Recipient and
     Contingent Annuitant.

     1.13. "Lump Sum Payment" shall be determined as set forth in paragraph (c)
     of Section 4.7 of the Plan.

     1.14. "Mortality Table" shall mean the Unisex Pension 1984 Mortality Table
     set forward one year in age (or such other pensioner annuity mortality
     table as the Company with the written consent of the Employee or Recipient
     shall determine) and the associated Uniform Seniority Table for the
     determination of joint life expectancies.

     1.15. "Net Specified Rate" shall mean the interest rate which will produce
     income on a tax free basis that equals the income produced by the Specified
     Rate net of the combined highest rates of Federal, state and local income
     taxes that are in effect in the jurisdiction of the Employee or Recipient
     on the date of payment of the Lump Sum Payment.

     1.16. "Pension Plan" means the funded, defined benefit pension plan in
     which an Employee was participating at the time of his termination of
     employment (or retirement) from the Company.

     1.17. "Plan" means the "Dana Corporation Supplemental Benefits Plan", as
     set forth herein.

                                       42
<PAGE>

     1.18. "Plan Administrator" means the Plan Administrator appointed under the
     Pension Plan.

     1.19. "Primary Social Security Benefit" means "Primary Social Security
     Benefit" as that term is defined by the Retirement Income Plan.

     1.20. "Retirement Income Plan" means the Dana Corporation Retirement Income
     Plan, as in effect on June 30, 1998.

     1.21. "Specified Rate" means an interest rate equal to 85% of a composite
     insurance company annuity rate provided by an actuary designated by the
     Plan Administrator (and provided by such actuary as of the last month of
     the calendar year next preceding the calendar year in which the
     distribution is made), subject to the condition that the interest rate in
     effect for any such year may not differ from the rate in effect for the
     prior year by more than one-half of one percent, and also subject to the
     condition that any such rate shall be rounded to the nearest one-tenth of
     one percent (and if such rate is equidistant between the next highest and
     next lowest one-tenth of one percent, rounded to the next lowest one-tenth
     of one percent).

     1.22. "Temporary Retirement Benefit" means the benefit described in Section
     4.1(b)(i)(B) hereof.

     1.23. "Vesting Service" means "Vesting Service" as that term is defined by
     the Retirement Income Plan.

                                   ARTICLE II
                               PURPOSE OF THE PLAN

     2.1. PURPOSE. This Plan is adopted effective September 1, 1988, and amended
     effective July 16, 2002, and is intended to provide supplemental benefits
     to Employees and their beneficiaries in addition to any benefits to which
     such Employees and beneficiaries may be entitled under other
     Company-sponsored, funded, defined benefit pension plans and the Excess
     Plan.

                                   ARTICLE III
                                   ELIGIBILITY

     3.1. ELIGIBILITY. All Employees and beneficiaries of Employees eligible to
     receive retirement benefits from a Pension Plan shall be eligible to
     receive benefits under this Plan in accordance with Article IV, regardless
     of when the Employee may have terminated employment or retired (except as
     otherwise specified by Article IV).

                                   ARTICLE IV
                                    BENEFITS

     4.1. BASIC BENEFITS.

          (a)  An Employee who, on or after September 1, 1988, retires from
               active employment with the Company on or after his 65th birthday,
               shall be entitled to receive a lump sum benefit that is the
               actuarial equivalent (determined in accordance with Section 4.2
               hereof) of a monthly supplemental benefit equal to the excess (if
               any) of:

                                       43
<PAGE>

         (i) (A) 1.6 percent of the Employee's Highest Average Monthly
                 Earnings multiplied by the number of years and fractional parts
                 thereof of his Credited Service at the time of retirement, less

             (B) 2 percent of the Employee's Primary Social Security Benefit
                 multiplied by the number of years and fractional parts
                 thereof of his Credited Service but not more than 50 percent
                 of the Employee's Primary Social Security Benefit, over

         (ii) the sum of the monthly benefits he is entitled to receive from
              all Company-sponsored, funded, defined benefit pension plans, and
              the Excess Plan, determined in each case on the basis of the
              assumption that the Employee's benefits under such plans are paid
              in the form of a single life annuity for the life of the
              Employee, commencing as of the Employee's date of retirement
              under the Pension Plan.

     (b)  An Employee who, on or after September 1, 1988, retires from
          employment with the Company on or after his 50th birthday, after
          completing 10 years of Vesting Service, after the sum of his age and
          years of Vesting Service, both calculated to the nearest month, equal
          70 or more, and before his 65th birthday, shall be entitled to receive
          a lump sum benefit that is the actuarial equivalent (determined in
          accordance with Section 4.2 hereof) of a monthly supplemental benefit
          equal to the excess (if any) of

         (i) (A) the retirement benefit described in Section 4.1(a)(i) hereof,
                 plus

             (B) a Temporary Retirement Benefit equal to the Employee's
                 Primary Social Security Benefit, reduced, if applicable, by
                 the actual amount of any unreduced Social Security benefit
                 paid to the Employee, payable through the month in which the
                 Employee attains age 62, provided that if the Employee has
                 less than 25 years of Credited Service, the Temporary
                 Retirement Benefit shall be prorated based on the proportion
                 of 25 years of Credited Service that has been credited to
                 the Employee at the time of his retirement; and provided
                 further that

                                       44
<PAGE>

             (C) retirement benefits prescribed by paragraph (A), above, and
                 Temporary Retirement Benefits prescribed by paragraph (B),
                 above, shall not exceed the following limitations:

                    I.   Temporary Retirement Benefits payable to all Employees,
                         and retirement benefits payable to all Employees who
                         participated in the Retirement Income Plan as of
                         December 31, 1983, and who had attained age 45 as of
                         that date, shall not exceed the percentage of such
                         benefits prescribed by the following schedule, based on
                         the Employee's age on the date of retirement:

                                       Age                       Percentage
                                       ---                       ----------
                                       64                           100%
                                       63                           100%
                                       62                           100%
                                       61                            95%
                                       60                            90%
                                       59                            85%
                                       58                            80%
                                       57                            75%
                                       56                            70%
                                       55                            65%
                                       54                            60%
                                       53                            55%
                                       52                            50%
                                       51                            45%
                                       50                            40%

                    II.  Retirement benefits payable to all Employees who did
                         not participate in the Retirement Income Plan on
                         December 31, 1983, or who had not attained age 45 as of
                         that date, shall not exceed the percentage of such
                         benefits prescribed by the following schedule, based on
                         the Employee's age on the date of retirement:

                                       Age                       Percentage
                                       ---                       ----------
                                       65                           100%
                                       64                            95%
                                       63                            90%
                                       62                            85%
                                       61                            80%
                                       60                            75%
                                       59                            70%
                                       58                            65%
                                       57                            60%
                                       56                            55%
                                       55                            50%
                                       54                            45%
                                       53                            40%
                                       52                            35%
                                       51                            30%
                                       50                            25%

          over

                                       45
<PAGE>

         (ii) the sum of the monthly benefits he is entitled to receive from
              all Company-sponsored, funded, defined benefit pension plans and
              the Excess Plan, determined in each case on the basis of the
              assumption that the Employee's benefits under such plans are paid
              in the form of a single life annuity for the life of the
              Employee, commencing as of the Employee's date of retirement
              under the Pension Plan.

     (c)  Subject to the provisions of Section 4.2 hereof, the benefit payable
          pursuant to paragraph (a) or (b) of this Section 4.1, shall be paid in
          the form of a lump sum, payable as of the Employee's date of
          retirement under the Pension Plan.

     (d)  If an Employee dies before the date as of which benefits are scheduled
          to be paid or to commence hereunder, the Employee's surviving spouse
          (if any) shall be entitled to receive a lump sum benefit equal to 100
          percent of the benefit to which the Employee would have been entitled
          under paragraph (c), above, if the Employee had retired on the date of
          his death.

     (e)  No benefits shall be paid hereunder with respect to an active Employee
          who is not married on the date of his death.

4.2. FORM OF BENEFIT PAYMENTS.

     (a)  An Employee eligible for a benefit under this Plan shall be entitled
          to receive his benefit in the form of an immediate lump sum payment.
          However, the Employee may request that his benefit be paid instead,
          concurrently with any benefit that the Employee is entitled to receive
          under the Excess Plan, pursuant to an optional form of payment that is
          used for the payment of the Employee's retirement benefit under the
          Pension Plan. The amount of the benefit payable pursuant to any form
          of payment under this paragraph (a) shall be determined by applying
          the mortality rates, interest assumptions, and other factors
          prescribed by the Retirement Income Plan that would be applicable to
          the form of payment that the Employee has requested under this Plan;
          provided that if a lump sum distribution is made hereunder, the amount
          of the lump sum distribution shall be equal to the excess of the
          amount determined under paragraph (i), below, over the amount
          determined under paragraph (ii), below:

          (i)  The total lump sum amount that is actuarially equivalent to the
               monthly supplemental benefit prescribed by Section 4.1(a)(i) or
               Section 4.1(b)(i), whichever is applicable, calculated using the
               basis described in subparagraph (i) or (ii), below, whichever
               produces the larger lump sum amount:

               (A)  the lump sum amount calculated on the basis of the
                    "applicable interest rate" (as in effect for the November
                    preceding the calendar year in which the calculation is
                    made) and the "applicable mortality table", both as defined
                    in Section 417(e) of the Code; or

               (B)  the lump sum amount calculated on the basis of an interest
                    rate equal to 85% of a composite insurance company annuity
                    rate provided by an actuary designated by the Plan
                    Administrator (and provided by such actuary as of the
                    December next preceding the calendar year in which the
                    distribution is made), subject to the condition that the
                    interest rate in effect for any such year may not

                                       46
<PAGE>

                    differ from the rate in effect for the prior year by more
                    than one-half of one percent, and also subject to the
                    condition that any such rate shall be rounded to the nearest
                    one-tenth of one percent (and if such rate is equidistant
                    between the next highest and next lowest one-tenth of one
                    percent, rounded to the next lowest one-tenth of one
                    percent), and on the basis of the applicable mortality
                    assumption for males under the 1971 Group Annuity Mortality
                    Table.

          (ii) The total lump sum distribution that he is entitled to receive
               under all Company-sponsored, funded, defined benefit pension
               plans and the Excess Plan, determined on the basis of the
               interest rate and mortality assumptions required by the terms of
               those plans.

     (b)  In addition to the distribution options available under paragraph (a)
          of this Section 4.2, an Employee eligible for a benefit under this
          Plan may request to receive his benefit in 120 monthly installments,
          regardless of whether the Employee has elected this form of payment
          for his retirement benefit under the Excess Plan or the Pension Plan.
          An Employee may elect the 120-month installment benefit only if his
          employment with the Company terminates on or after July 1, 1988. The
          Employee's lump sum benefit determined under Section 4.1 shall be
          converted to monthly installments using the "applicable interest rate"
          under Section 417(e) of the Code for the November preceding the
          calendar year in which the payments commence. If the Employee dies
          before 120 monthly payments have been made, there shall be paid to his
          beneficiary, commencing on the first day of the month following his
          death and continuing for the remainder of the 120-month period, the
          monthly benefit that had been paid to the Employee. No payments shall
          be made either to the Employee or to his beneficiary after 120 monthly
          payments have been made.

     (c)  If the Employee requests the 120-month installment option under
          paragraph (b), the Employee shall designate in writing a natural
          person (or persons) to be his beneficiary. The Employee may not
          designate a trust or his estate to be his beneficiary. If an Employee
          designates his spouse as his beneficiary and they thereafter divorce,
          such designation shall be automatically revoked. The Employee may
          change his beneficiary designation in writing at anytime before his
          installment payments commence, but he may not change his beneficiary
          designation after his payments commence. If the Employee dies after
          his installment payments have commenced and he is not survived by a
          designated beneficiary, the remaining monthly payments shall be paid
          to the Employee's estate. If the Employee is survived by a designated
          beneficiary, and the beneficiary dies before the complete disbursement
          of the payments due, the remaining monthly payments shall be paid to
          the beneficiary's estate.

     (d)  The Employee's written request to receive an optional form of payment
          under paragraph (a) or paragraph (b) instead of an immediate lump sum
          must be filed with the Vice President - Human Resources of the Company
          before the Employee's date of retirement under the Pension Plan. The
          request shall be granted or denied in the sole discretion of the Vice
          President - Human Resources of the Company. If the Employee is the
          Vice President - Human Resources of the Company, the duties of the
          Vice President - Human Resources of the Company under this Section 4.2
          shall be discharged by the President of the Company.

                                       47
<PAGE>

     Any post-retirement increase in the benefits being paid to an Employee
under the Pension Plan shall also be applied on a comparable basis to any
monthly supplemental benefits under this Plan.

4.3. TIME AND DURATION OF BENEFIT PAYMENTS. Benefits due under the Plan shall be
paid coincident with the payment date of benefits under the Pension Plan, or at
such other time or times as the Plan Administrator in his discretion determines.
All supplemental benefits payable under this Plan shall cease as of the first
day of the month following the Employee's death, except that payments may
continue to the Employee's spouse or beneficiary following his death pursuant to
an optional form of payment selected under Section 4.2.

4.4. BENEFITS UNFUNDED. The benefits payable under the Plan shall be paid by the
Company each year out of its general assets and shall not be funded in any
manner. The obligations that the Company incurs under this Plan shall be subject
to the claims of the Company's other creditors having priority as to the
Company's assets.

4.5. NO RIGHT TO TRANSFER INTEREST. The Plan Administrator may recognize the
right of an alternate payee named in a domestic relations order to receive all
or a portion of an Employee's benefit under this Plan, provided that (a) the
domestic relations order would be a "qualified domestic relations order" within
the meaning of Section 414(p) of the Code if Section 414(p) were applicable to
the Plan; (b) the domestic relations order does not purport to give the
alternate payee any right to assets of the Company or its affiliates; and (c)
the domestic relations order does not purport to give the alternate payee any
right to receive payments under the Plan before the Employee is eligible to
receive such payments. If the domestic relations order purports to give the
alternate payee a share of a benefit to which the Employee currently has a
contingent or nonvested right, the alternate payee shall not be entitled to
receive any payment from the Plan with respect to the benefit unless the
Employee's right to the benefit becomes nonforfeitable. Except as set forth in
the preceding two sentences with respect to domestic relations orders, and
except as required under applicable Federal, state or local laws concerning the
withholding of tax, rights to benefits payable under the Plan are not subject in
any manner to anticipation, alienation, sale, transfer, assignment, pledge,
attachment or other legal process, or encumbrance of any kind. Any attempt to
alienate, sell, transfer, assign, pledge, or otherwise encumber any such
supplemental benefit, whether currently or thereafter payable, shall be void.

4.6. SUCCESSORS TO THE CORPORATION. This Plan shall be binding upon and inure to
the benefit of any successor or assign of the Company, including, without
limitation, any corporation or corporations acquiring directly or indirectly all
or substantially all of the assets of the Company whether by merger,
consolidation, sale or otherwise (and such successor or assign shall thereafter
be deemed embraced within the term "Company" for the purposes of this Plan).

4.7. CHANGE IN CONTROL. Anything hereinabove in this Article IV or elsewhere in
this Plan to the contrary notwithstanding:

     (a)  LUMP SUM PAYMENT. Upon the occurrence of a Change in Control, each
          Employee and each Employee's spouse or beneficiary following his death
          who are receiving benefits under the Plan ("Recipient") shall receive,
          on account of future payments of any and all benefits due under the
          Plan, a Lump Sum Payment, so that each such Employee or Recipient will
          receive substantially the same amount of after-tax income as before
          the Change in Control, determined as set forth in paragraph (c) of
          this Section 4.7.

     (b)  CERTAIN MATTERS FOLLOWING A LUMP SUM PAYMENT. An Employee who has
          received a Lump Sum Payment pursuant to paragraph (a) of this Section
          4.7 shall, thereafter (i) while in the employ of the Company, continue
          to accrue benefits

                                       48
<PAGE>

          under the Plan, and (ii) be eligible to be paid further benefits under
          the Plan, after appropriate reduction in respect of the Lump Sum
          Payment previously received. For purposes of calculating such
          reduction, the Lump Sum Payment shall be accumulated with interest at
          the Specified Rate in effect from time to time for the period of time
          from initial payment date to the next date on which a computation is
          to be made (i.e., upon Change in Control, retirement, or other
          termination of employment). It shall then be converted to a
          straight-life annuity using the current annuity certain factor. The
          current annuity certain factor will be determined on the Net Specified
          Rate basis if this benefit payment is being made due to a subsequent
          Change in Control; otherwise, the Specified Rate shall be used.

     (c)  DETERMINATION OF LUMP SUM PAYMENT. The Lump Sum Payment referred to in
          paragraph (a) of this Section 4.7 shall be determined by multiplying
          the annuity certain factor (for monthly payments at the beginning of
          each month) based on the Benefit Payment Period and the Net Specified
          Rate by the monthly benefit (adjusted for assumed future benefit
          adjustments due to Social Security and Code Section 415 changes in the
          Pension Plan) to be paid to the Employee or Recipient under the Plan.

4.8. TAXATION. Notwithstanding anything in the Plan to the contrary, if the
Internal Revenue Service determines that the Participant is subject to Federal
income taxation on an amount in respect of any benefit provided by the Plan
before the distribution of such amount to him, the Company shall forthwith pay
to the Participant all (or the balance) of such amount as is includible in the
Participant's Federal gross income and shall correspondingly reduce future
payments, if any, of the benefit. Except as provided in Section 4.7 with respect
to payments after a Change in Control, the Company shall not reimburse the
Employee or any Recipient for any tax, interest, or penalty that the Employee or
Recipient owes with respect to any payment from the Plan.

                                    ARTICLE V
                    AMENDMENT, TERMINATION AND INTERPRETATION

5.1. AMENDMENT AND TERMINATION. The Company reserves the right, by action of the
Board, to amend, modify or terminate, either retroactively or prospectively, any
or all of the provisions of this Plan without the consent of any Employee or
beneficiary; provided, however, that no such action on its part shall adversely
affect the rights of an Employee and his beneficiaries without the consent of
such Employee (or his beneficiaries, if the Employee is deceased) with respect
to any benefits accrued prior to the date of such amendment, modification, or
termination of the Plan if the Employee has at that time a non-forfeitable right
to benefits under a funded, defined benefit pension plan sponsored by the
Company.

5.2. INTERPRETATION. The Plan Administrator shall have the discretionary
authority to interpret the Plan and to decide any and all matters arising
hereunder; including but not limited to the right to remedy possible
ambiguities, inconsistencies or omissions by general rule or particular
decision. In addition, any interpretations and decisions made by the Plan
Administrator shall be final, conclusive and binding upon the persons who have
or who claim to have any interest in or under the Plan.

                                       49
<PAGE>

IN WITNESS WHEREOF, Dana Corporation has executed this restated Plan effective
as of July 16, 2002.

                                       /s/ Robert C. Richter
                                       -----------------------------------------
                                       Dana Corporation

/s/ Mark A. Smith Jr.
---------------------------------
Attest

                                       50
<PAGE>

                   DANA CORPORATION SUPPLEMENTAL BENEFITS PLAN
                                   APPENDIX A

     A.1 PURPOSE. The purpose of this Appendix A is to provide supplemental
benefits to certain individuals who are not otherwise eligible for benefits
under the Plan. Except to the extent that a contrary rule is expressly set forth
below, capitalized terms used in Appendix A shall have the meaning set forth in
Article I of the Plan, and the benefits provided under Appendix A shall be
subject to the administrative provisions set forth in Sections 4.2 through 4.8
of Article IV and Sections 5.1 and 5.2 of Article V (construed as if the term
"Employee" in those sections referred to an individual who is eligible for a
benefit under this Appendix A).

     A.2 ELIGIBILITY. An individual is eligible for a supplemental retirement
benefit under this Appendix A if the individual meets all of the following
criteria on the date of his retirement from the Company and its affiliates (or
if he meets the criteria in paragraphs (a) through (c) on the date of a Change
in Control, if earlier):

     (a)  The individual is not eligible for a supplemental retirement benefit
          under any provision of the Plan other than this Appendix A.

     (b)  The individual has reached his 50th birthday and has completed at
          least 10 years of Vesting Service; and the sum of the individual's age
          and years of Vesting Service, both calculated to the nearest month,
          equals 70 or more.

     (c)  The individual is a U.S.-based member of the "A" Group or the "B"
          Group (as defined by the Compensation Committee of the Board), who
          participated in the Retirement Income Plan as of June 30, 1988, and
          who is a management employee or a highly-compensated employee.

     (d)  The individual retires on or after January 1, 1996 and before January
          1, 2010.

     A.3. AMOUNT OF BENEFIT. The amount of an individual's supplemental
retirement benefit under Appendix A shall be the initial benefit determined
under paragraph (a), multiplied by the percentage specified in paragraph (b),
and reduced as provided in paragraph (c).

     (a)  The individual's initial benefit shall be the normal retirement
          benefit or early retirement benefit that the individual would have
          received under the Retirement Income Plan if the provisions of that
          Plan had remained in effect through the individual's retirement date,
          with the modification described in the following sentence. For
          purposes of applying the Retirement Income Plan formula, the
          individual's "Final Monthly Earnings" shall be the average of his
          Earnings during the five consecutive calendar years out of the last
          ten years of his active employment with the Company in which the
          average was the highest.

     (b)  The percentage applied to the individual's initial benefit shall be
          determined according to the calendar year in which the individual
          retires, as follows:

            Year in Which Individual Retires        Applicable Percentage
            --------------------------------        ---------------------
                       1996 - 1999                           90%
                       2000 - 2004                           80%
                       2005 - 2009                           70%
                       After 2009                             0%

                                       51
<PAGE>

     (c)  The benefit determined under this Section A.3 shall be calculated as a
          single-life annuity, and shall be reduced by the sum of the monthly
          benefits that the individual is entitled to receive from any source
          listed in subparagraphs (i), (ii), or (iii), below, determined in each
          case on the basis of the assumption that the individual's benefits
          under such sources are paid in the form of a single-life annuity for
          the life of the individual, commencing as of the individual's date of
          retirement under the Pension Plan:

          (i)   all funded defined benefit pension plans sponsored by the
                Company and its affiliates; and

          (ii)  all unfunded, nonqualified deferred compensation plans sponsored
                by the Company and its affiliates (including, but not limited
                to, the Excess Plan), with the sole exception of the Dana
                Corporation Additional Compensation Plan; and

          (iii) any supplemental retirement benefit provided under an employment
                contract, or under any other contract or agreement, between the
                individual and the Company or any affiliate.

     A.4 FORM OF PAYMENT.

     (a)  An individual shall be entitled to receive his benefit under this
          Appendix A in the manner provided in Section 4.2 of the Plan. If the
          individual elects to receive a lump sum payment, however, the lump sum
          payment shall be calculated as provided in paragraph (b), below,
          rather than as provided in Section 4.2 of the Plan.

     (b)  The single-life annuity determined under paragraphs (a) and (b) of
          Section A.3 shall be converted to a lump sum present value on the
          basis of the "applicable interest rate" (as in effect for the November
          preceding the calendar year in which the calculation is made) and the
          "applicable mortality table", both as defined in Section 417(e) of the
          Code. The lump sum determined under the preceding sentence of this
          Section A.4 shall be reduced by the lump sum present value of all
          benefits that the individual is entitled to receive from all sources
          described in paragraph (c) of Section A.3, determined in each case on
          the basis of the interest rate and mortality assumptions required for
          lump sum calculations by the terms of those plans or agreements (or,
          if no such interest rates or mortality assumptions are specified in
          the plan or agreement, on the basis of the interest rate and mortality
          assumptions set forth in the first sentence of this paragraph (b)).

     A.5 PRE-RETIREMENT DEATH BENEFIT. Effective March 1, 1998, if an individual
dies before his benefit under this Appendix A commences or is paid, the
individual's surviving spouse (if any) shall be entitled to receive a lump-sum
benefit equal to 100% of the benefit to which the individual would have been
entitled under paragraph A.3, above, subject to the reductions described in
paragraph A.3(c), as if the individual had retired on the date of his death.

     A.6 KEY LOCAL AND THIRD COUNTRY NATIONALS. The provisions of this Section
A.6 shall apply solely to individuals named in the Key Local and Third Country
National listing in Appendix F of the Dana Corporation Retirement Plan. If such
an individual was a member of the "A" Group or the "B" Group on January 1, 2002,
and meets all of the eligibility criteria of Section A.2 above except (i) the
requirement that the individual be U.S.-based, and (ii) the requirement that the
individual have been a participant in the Retirement Income Plan before

                                       52
<PAGE>

July 1, 1988, such individual shall nonetheless be eligible for benefits under
this Appendix A. The amount of the individual's benefit shall be determined in
accordance with Sections A.3 and A.4, taking into account the individual's
Earnings, Credited Service, and Vesting Service determined under Appendix F of
the Dana Corporation Retirement Plan. In addition to the benefit offsets listed
in Section A.3(c), the individual's benefit under the Plan shall be reduced by
the actuarial value (as determined by the Company's actuary) of the following
benefits:

     (a)  the benefit earned under any non-U.S. defined benefit, defined
          contribution, or individual account retirement plan to the extent that
          benefit was funded by contributions of Dana Corporation or any of its
          subsidiaries or affiliates (or, in the case of a non-U.S. plan that is
          unfunded, to the extent that benefit will be paid by Dana Corporation
          or any of its subsidiaries or affiliates); and

     (b)  the benefit earned under any non-U.S. retirement program sponsored by
          a local government, if (i) the government program is the predominant
          source of retirement benefits in that locality, and (ii) the
          individual did not earn a retirement benefit under a private
          retirement plan maintained in the same locality by Dana Corporation or
          any of its subsidiaries or affiliates.

                                       53

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