Document:

ex4a.htm

    
      

    

    Exhibit
4(a)

     

    STEWARDSHIP
FINANCIAL CORPORATION

    DIVIDEND
REINVESTMENT PLAN

    PROSPECTUS

    

    DIVIDEND
REINVESTMENT PLAN

    

     

    1. THE
CORP

     

    Stewardship
Financial Corporation (the “Corp.”) is a New Jersey state chartered holding
company. The Corp. was formed in 1995 and approved by shareholders of Atlantic
Stewardship Bank at their annual meeting in April, 1996. The Corp.’s executive
offices are located at 630 Godwin Avenue, Midland Park, New Jersey 07432-1405,
and the telephone number of the Corp. is 877-844-BANK or 201-444-7100. The
website is www.asbnow.com.

     

    The Corp.
publishes annual and quarterly reports and proxy statements which are made
available to its shareholders. All such reports are hereby incorporated by
reference into the description of the Corp. in this Dividend Reinvestment Plan.
The Corp. will provide, without charge, to each person to whom a copy of this
Plan is delivered, on the oral or written request of any such person, a copy of
any or all of the foregoing documents. Written requests for such copies should
be directed to Stewardship Financial Corporation, 630 Godwin Avenue, Midland
Park, New Jersey 07432-1405, Attention: Corporate Services; and oral requests
may be made by calling 877-844-BANK or 201-444-7100.

     

    2. THE
BANK

     

    Atlantic
Stewardship Bank (the “Bank”) is a subsidiary of the Corp. The Bank was formed
in 1985 by local businessmen to serve the needs of the local community. The Bank
incorporates a provision for tithing ten percent (10%) of its pre-taxable
profits to Christian and civic charities in its bylaws. The Dividend
Reinvestment Plan for the Bank was originally approved on March 7, 1994; and was
updated and adopted by the Corp. on January 21, 1997; and was further updated
and adopted by the Corp. on April 23, 2009.

     

    The
Bank’s executive offices are located at 630 Godwin Avenue, Midland Park, New
Jersey 07432-1405; and the telephone number of the Bank is 877-844-BANK or
201-444-7100. The Bank’s website is www.asbnow.com.

     

    3. THE
PLAN

     

    The
Dividend Reinvestment Plan described in this brochure offers you the opportunity
to increase your investment in Stewardship Financial Corporation Common Stock
with no brokerage commissions or administrative fees of any kind. The Plan
permits you to use your cash dividends to purchase additional whole and
fractional shares of the Corp.’s stock.

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    4. ADMINISTRATION
OF THE PLAN

     

    Registrar
and Transfer Company, the Corp.’s registrar and transfer agent (“R&T”), 10
Commerce Drive, Cranford, NJ 07016, telephone number 800-368-5948 will
administer the Plan, keep records, send statements of account to participants
and perform other duties relating to the Plan. The common stock purchased
pursuant to the Plan will be purchased from the Corp. from common shares that
are authorized but unissued; or from treasury stock; or in the open market, or a
combination thereof. Common shares purchased other than from the Corp. will be
purchased by agents independent of the Corp. All Common Shares purchased
pursuant to the Plan, from the Corp. or otherwise, will be credited to the
accounts of the Plan participants by R&T.

     

    5. INVESTMENT
CONSIDERATIONS

     

    The Corp.
stock is traded on the NASDAQ Capital Market under the symbol
SSFN.  The identity of the market makers for Stewardship Financial
Corporation common stock at any given time can be found on www.nasdaq.com.

     

    Any
subscriber (whether or not a corporation) whose stock purchase would increase
his or its holdings of Corp.’s common stock to 10% or more of the Corp.’s then
outstanding shares will need prior Federal Deposit Insurance Corporation and New
Jersey Department of Banking approval to purchase such shares.

     

    Shares of
Corp. common stock purchased under this Plan are NOT deposit accounts of the
Corp. or the Bank and are NOT insured by the Federal Deposit Insurance
Corporation or any other governmental organization. Shares of Corp. common stock
are subject to market risk and possible loss of investment.

     

    6. DIVIDEND
REINVESTMENT

     

    The Plan
permits you to invest your Corp. cash dividends in additional shares of the
Corp.’s common stock. Instead of sending your regular dividend check to you, the
Corp. will use your dividend to purchase whole and fractional shares of Common
Stock and credit them to your account. Dividends on the shares credited to your
account under this Plan will also be reinvested for you, thereby compounding
your investment.

     

    Shares
purchased pursuant to this Plan may be purchased out of the Corp.’s legally
authorized but unissued shares of Common Stock; the Corp.’s Treasury Stock; on
the open market; or any combination thereof. The price of all common shares
purchased from the Corp. will be based on the average prices of the Common
Shares reported on the NASDAQ Capital Market for the 14 day period preceding the
dividend record date. The price of common shares purchased in the Open Market
will be the average purchase price of such common shares. Should the purchase of
Common Stock be commingled between the Corp.’s authorized and unissued shares,
the Corp.’s Treasury Stock and in the open market or any combination thereof,
the price will be an average of these prices. Common Stock purchased other than
from the Corp. pursuant to the Plan will be purchased by agents independent of
the Corp. and its affiliates. Neither the Corp. nor any of its affiliates will
exercise any direct or indirect control of influence over the times when the
prices at which, or the manner in which, such common shares will be
purchased.

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    The
purchase price for shares of Common Stock purchased through the Plan will be 95%
of the average price of common shares purchased as outlined in the above
paragraph.

     

    For
common shares to be purchased from the Corp., R&T will purchase common
shares for the plan on the dividend payment date. Common shares purchased other
than from the Corp. pursuant to the Plan will be purchased by agents independent
of the Corp. and its affiliates. Neither the Corporation nor any of its
affiliates will exercise any direct or indirect control or influence over the
times when, the prices at which, or the manner in which, such common shares will
be purchased.

     

    The
number of common shares that will be purchased from a participant’s dividends
will depend on the amount of those dividends and the applicable purchase price
of the Common Shares. A participant’s account will be credited with the number
of common shares (including any fractional shares computed to four decimals)
that results from the dividing the amount of dividends to be invested by the
applicable purchase price.

     

    7. COST
TO YOU

     

    Participants
will incur no brokerage commissions or service charges for Common Shares
purchased under the Plan.

     

    8. ACCOUNT
STATEMENTS

     

    You will
receive an account statement from R&T each time that shares are purchased
for you under the Plan. The statement will show the total number of whole and
fractional shares in your account to date, as well as the amount of the most
recent dividend, the number of shares purchased and the price per share. The
price is the average price of all shares purchased under the Plan in connection
with a given dividend. You should retain all account statements for your
personal accounting and record keeping purchases.

     

    9. ELIGIBILITY

     

    All
shareholders of record of Corp. Common Stock are eligible to participate in the
Plan and may do so by completing an Authorization Card, which is available from
R&T.

     

    10. ENROLLMENT

     

    Shareholders
interested in joining the Plan must complete an authorization card to be
submitted to the Corp. or R&T at least 30 days prior to a dividend payment
date. Otherwise, your participation will be deferred until the next dividend
payment date. Your participation in the Plan will apply to all shares that are
registered to you at time of enrollment, plus all shares that you acquire while
your authorization remains in effect. If you sell all of your shares for which
you have a certificate, but your participation in the Plan is not terminated,
dividends on the shares held in your account under the Plan will continue to be
reinvested.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    11. TAXATION
OF DIVIDENDS

     

    You will
be taxed on the dividends that are reinvested on your behalf, just the same as
you would have been if they had been paid directly to you. In addition, the
amount of any administrative fees or brokerage commissions paid for you by the
Corp. in connection with the purchase of shares will be taxed as a dividend to
you. At year-end, R&T will send all applicable tax information to you and to
the Internal Revenue Service. If you have any remaining tax questions, you
should consult your personal tax advisor.

     

    12. CERTIFICATES

     

    Shares
purchased for your account under the Plan will normally be held by the Corp.,
without charge. If you wish, however, a certificate or certificates for whole
shares credited to your account will be delivered to you upon your written
request to R&T.

     

    13. VOTING
OF SHARES

     

    You will
be given the right to vote any whole and fractional shares held for you under
the Plan on the record date for a vote. Shares for which no voting directions
are received will not be voted.

     

    14. FRACTIONAL
SHARES

     

    While you
are a participant in the Plan, the entire amount of your dividend will be used
to purchase shares of Common Stock. If the amount is not equal to an exact
number of whole shares, your account will be credited with a fractional share
(calculated to four decimal places). A fractional share will earn dividends for
you, in proportion to the size of the fraction just as full shares
do.

     

    15. WITHDRAWAL
FROM THE PLAN

     

    You may
terminate your participation in the Plan at any time and for any reason. To
withdraw from the Plan, simply give written notice to R&T at least 30 days
before a dividend payment date. Upon termination, you will receive a certificate
for the number of whole shares credited to your account under the Plan, plus a
check for any fraction of a share valued at the then current market price of
Corp. Common Stock.

     

    16. QUESTIONS
AND CORRESPONDENCE

     

    Please
direct all questions regarding the Plan to:

     

    Registrar
and Transfer Company

    10
Commerce Drive

    Cranford,
NJ 07016

    Telephone
- 800-368-5948

     

    17. TERMS
AND CONDITIONS

     

    (a)   
The
reinvestment of dividends does not relieve the participant of any taxes which
may be payable on such dividends. Dividends paid on accumulated shares will be
included in an annual information return filed with the Internal Revenue
Service. A

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    copy of
the return will be sent to the participant, or the information included on the
return will be shown on the participant’s final account statement for the
year.

     

    (b)   
Stock Dividends, Stock Splits,
Rights: Any stock dividends or stock splits on Corp. stock applicable to
shares belonging to a participant under the Plan, whether held in the
participant’s account or in the participant’s own name, will be credited to the
participant’s account. In the event the Corp. makes available to its
shareholders rights to purchase additional shares or securities, participants
under the Plan will receive a subscription warrant for all such rights directly
from the Corp.

     

    (c)   
Limitation of Liability:
Neither the Corp. nor R&T, shall have any responsibility beyond the
exercise of ordinary care for any action taken or omitted pursuant to this
agreement; nor shall they have any duties, responsibilities or liabilities
except as are expressly set forth herein; nor shall they be liable for any act
done in good faith or for any good faith omission to act; nor shall they have
any liability in connection with an inability to purchase shares or with respect
to the timing or the price of any purchase.

     

    (d)   
Amendment of Plan: This
agreement may be amended, supplemented or terminated by the Corp. at any time by
the delivery of written notice to each participant at least 30 days prior to the
effective date of the amendment, supplement or termination. Any amendment or
supplement shall be deemed to be accepted by the participant unless prior to its
effective date, the Committee receives written Notice of Termination of the
participant’s account.

     

    (e)   
Governing Law: This Plan and
the authorization card signed by the participant (which is deemed a part of this
agreement) and the participant’s account shall be governed by and construed in
accordance with the laws of the State of New Jersey.dex101.htm

    
      

      

    

    As
Amended and Restated February 13, 2009

    

    

    BURLINGTON NORTHERN
SANTA FE

    NON-EMPLOYEE
DIRECTORS' STOCK PLAN

    

    

    SECTION
1

    

    GENERAL

    

    1.1.           Purpose.  The
Burlington Northern Santa Fe Non-Employee Directors' Stock Plan (the "Plan") has
been established by Burlington Northern Santa Fe Corporation (the "Company") to
promote the interests of the Company and its stockholders by enhancing the
Company's ability to attract and retain the services of experienced and
knowledgeable directors and by encouraging such directors to acquire an
increased proprietary interest in the Company.

    

    1.2.           Operation
and Administration.  The operation and administration of the
Plan shall be subject to the provisions of
Section 4.  Capitalized terms in the Plan shall be defined as set
forth in Section 7 or elsewhere in the Plan.

    

    SECTION
2

    

    OPTION
AWARDS

    

    2.1.           Terms and
Conditions.

    

    Each Option Award granted under the
Plan shall be evidenced by an agreement and shall comply with the following
terms and conditions:

    

    (a)         
  The Board may from time to time grant Option Awards to one or more
Eligible Directors.

    

    (b)         
  The option exercise price shall be the Fair Market Value of the
Stock subject to such Option Award on the date of grant.

    

    (c)    The
Option Award shall not be sold, assigned, transferred, pledged or otherwise
encumbered, other than by will or the laws of descent and distribution, unless
the Participant has made an irrevocable election to

           
 receive a transferable option with the Secretary of the Company prior to
the date of grant or as may be required by rules established by the
Board.  Such transferable Option Awards may be transferred by a 

                    
Participant  for no
consideration to or from the Participant's Immediate Family (including, without
limitation, to a trust for the benefit of a Participant's Immediate Family or a
Family Partnership for members of the 

                    
Immediate Family), and the
transferee
shall remain subject to all of the terms and conditions applicable to such
Option Award prior to such transfer.

    

    (d)           The
Option Awards under this subsection 2.1 shall be subject to the vesting
provision set forth in subsection 2.2.

    

    2.2.           Vesting.  Option
Awards shall be exercisable commencing one (1) year from the date of
grant.  A Participant who ceases to be a Director shall forfeit any
Option Award which is not vested on his Date of Termination; provided, however,
that (i) if a Participant ceases to be a Director by reason of his
Retirement, death, or Disability, all of his Option Awards that are not then
vested shall become vested; and (ii) any portion of an Option Award that is
held by an individual serving as a Director on the date of a Change in Control
that is not then vested shall vest on the date of the Change in
Control.

    

    2.3.           Exercise.  To
the extent that an Option Award is exercisable, it may be exercised in whole or
in part by filing a written notice with the Secretary of the Company at its
corporate headquarters prior to the date the Option expires.  Such
notice shall specify the number of shares of Stock which the Participant elects
to purchase, and shall be accompanied by payment of the exercise price for such
shares of Stock indicated by the Participant's election.  Payment
shall be by cash or by check payable to the Company, except that all or a
portion of such required amount may be paid by delivery of shares of Stock
having an aggregate Fair Market Value (valued as of the date of exercise) that
is equal to the amount of cash which would otherwise be required.

    

    2.4.           Expiration.  An
Option Award granted to a Director shall expire on the tenth anniversary of the
Award Date; provided, however, that in no event shall the Option Award be
exercisable after the first anniversary of the Date of Termination of the
Director.

    

    SECTION
3

    

    RESTRICTED STOCK UNIT
AWARDS

    

    3.1.           Terms and
Conditions. Subject to the terms of this Section 3, a Restricted
Stock Unit entitles an Eligible Director to receive one share of Stock for the
unit at the end of a vesting period in accordance with subsection 3.4 and to the
extent provided by the Award with the vesting of such unit also to be contingent
upon such conditions as may be set forth in the Award.  During any
period in which Restricted Stock Units are outstanding and have not been settled
in Stock, the Eligible Director shall not have the rights of a stockholder, but
shall have the right to receive a payment from the Company in lieu of a dividend
in an amount equal to such dividends and at such times as dividends would
otherwise be paid.

    

    3.2.           Grant. As
of the date of each Annual Meeting (or, if later, the date that is two business
days after the release of the Company's earnings results for the first quarter
of the year), each Director who is an Eligible Director as of the date of such
Annual Meeting shall be granted, under this Section 3.2, a Restricted Stock
Unit Award of a number of units with a grant date fair value, as measured by
SFAS 123R, of $180,000, rounded to the nearest 10
units.  Notwithstanding the foregoing, the number of units composing
each such Restricted Stock Unit Award may be adjusted downward from the number
determined pursuant to the preceding sentence in any Plan Year in a manner
determined by the Board if the Board concludes that such an adjustment is
desirable.  If an individual becomes an Eligible Director during a
Plan Year on a date other than the date of the Annual Meeting for such Plan
Year, he shall be granted under this Section 3.2, on the first business day
on which he is an Eligible Director, a Restricted Stock Unit Award in the amount
determined in accordance with the preceding two sentences reduced pro-rata to
reflect the portion of the Plan Year that has elapsed prior to the date on which
he becomes an Eligible Director.

    

    3.3.           Vesting.  Restricted
Stock Unit Awards granted to a Director in any Plan Year shall vest on the last
day of the Plan Year in which granted,  provided that the Director
serves on the Board until such date.  A Director who does not serve on
the Board at least until the last day of the Plan Year in which such Restricted
Stock Unit Award was granted, shall forfeit such Restricted Stock Unit
Award.  Notwithstanding the foregoing, (i) if the Director ceases to be a Director by reason of the
Director's death, Disabilityor Retirement, all of his Restricted Stock
Unit Awards that are not then vested shall become vested, and (ii) all
Restricted Stock Unit Awards that are held by an individual serving as a
Director on the date of a Change in Control that are not vested shall become
vested on the date of the Change in Control.

    

    3.4.           Payment.  The
shares of Stock underlying Restricted Stock Unit Awards that have vested on or
prior to the Date of Termination of an Eligible Director's service on the Board
(as determined pursuant to Section 3.3) shall be payable on such Date of
Termination (or within 30 days thereafter, subject
to Treas. Reg. Section 1.409A-3(i)(2).

    

    3.5.          
Limit on
Restricted Stock Units.  Restricted Stock Units granted as a
Restricted Stock Unit Award may not be sold, assigned, transferred, pledged or
otherwise encumbered.

    

    SECTION
4

    

    OPERATION AND
ADMINISTRATION

    

    4.1.           Effective
Date.

    

    (a)         The
Plan was established at the time of the Company's 1996 Annual Meeting, and was
amended and restated September 21, 2006.  To satisfy the requirements
of section 409A of the Internal Revenue Code (“Section 409A”) and make certain
other changes, the Plan is amended, restated and continued effective as of
January 1, 2005 (the "Effective Date" of the Plan as set forth
herein).  Except as otherwise specifically provided in the Plan to the
contrary, the Plan as set forth herein shall apply to Awards outstanding under
the Plan on or after the Effective Date.  Awards that are not
outstanding on or after the Effective Date, will be subject to the applicable
provisions of the Plan as in effect from time to time prior to the Effective
Date.

    

    (b)         The
Plan shall be unlimited in duration and, in the event of Plan termination, shall
remain in effect as long as any Awards are outstanding.

    

    4.2.           Shares
Subject to Plan.  The shares of Stock with respect to which
Awards may be made under the Plan shall be shares currently authorized but
unissued or currently held or subsequently acquired by the Company as treasury
shares, including shares purchased in the open market or in private
transactions.  Subject to the provisions of subsection 4.3, the
number of shares of Stock which may be issued with respect to Awards under the
Plan shall not exceed 300,000 shares in the aggregate.  Except as
otherwise provided herein, any shares subject to an Award which for any reason
expires or is terminated without issuance of shares (whether or not cash or
other consideration is paid to a Participant in respect of such Award) shall
again be available under the Plan.

    

    4.3.           Adjustments
to Shares.  If the Company shall effect a reorganization,
merger, or consolidation, or similar event or effect any subdivision or
consolidation of shares of Stock or other capital readjustment, payment of stock
dividend, stock split, spin-off, combination of shares or recapitalization or
other increase or reduction of the number of shares of Stock outstanding without
receiving compensation therefor in money, services or property, then the
Committee (as defined below) shall adjust equitably and proportionally
(i) the number of shares of Stock available under the Plan; (ii) the
number of shares available under any individual or other limits; (iii) the
number of shares of Stock or Restricted Stock Units subject to outstanding
Awards; and (iv) the per-share price under any outstanding Award to the
extent that the Participant is required to pay a purchase price per share with
respect to the Award.  However, in no event shall this Section 4.3 be
construed to permit a modification (including a replacement) of an Option Award
if such modification either: (i) would result in accelerated recognition of
income or imposition of additional tax under Section 409A; or (ii) would cause the
Option Award subject to the modification (or cause a replacement Option Award)
to be subject to Section 409A, provided that the restriction of this clause (ii)
shall not apply to any Option Award that, at the time it is granted, is
designated as being deferred compensation subject to Section 409A.

    

    4.4.           Limit on
Distribution.  Distribution of shares of Stock or Restricted
Stock Units or other amounts under the Plan shall be subject to the
following:

    

    (a)         Notwithstanding
any other provision of the Plan, the Company shall have no liability to issue
any shares of Stock or Restricted Stock Units under the Plan or make any other
distribution of benefits under the Plan unless such delivery or distribution
would comply with all applicable laws and the applicable requirements of any
securities exchange or similar entity.

    

    (b)         The
Committee shall add such conditions and limitations to any Award to any
Participant who is subject to Section 16(a) and 16(b) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), as is necessary to comply
with such Section 16(a) or 16(b) and the rules and regulations thereunder
or to obtain any exemption therefrom.

    

    (c)         To
the extent that the Plan provides for issuance of certificates to reflect the
transfer of shares of Stock, the transfer of such shares may, at the direction
of the Committee, be effected on a non-certificated basis, to the extent not
prohibited by the provisions of Rule 16b-3 under the Exchange Act or any other
applicable rules.

    

    4.5.           Taxes.  All
Awards and other payments under the Plan are subject to all applicable taxes
which shall be obligations of the Participant.

    

    4.6.           Distributions
to Disabled Persons.  Notwithstanding any other provision of
the Plan, if, in the Committee's opinion, a Participant or other person entitled
to benefits under the Plan is under a legal disability or is in any way
incapacitated so as to be unable to manage his financial affairs, the Committee
may direct that payment be made to a relative or friend of such person for his
benefit until claim is made by a conservator or other person legally charged
with the care of his person or his estate, and such payment or distribution
shall be in lieu of any such payment to such Participant or other
person.  Thereafter, any benefits under the Plan to which such
Participant or other person is entitled shall be paid to such conservator or
other person legally charged with the care of his person or his
estate.

    

    4.7.           Administration.  The
authority to control and manage the operation and administration of the Plan
shall be vested in a committee (the "Committee") in accordance with
Section 5.

    

    4.8.           Form and
Time of Elections.  Any election required or permitted under
the Plan shall be in writing, and shall be deemed to be filed when delivered to
the Secretary of the Company.

    

    4.9.           Agreement
With Company.  Each Award granted under Sections 2 and 3
shall be evidenced by an Agreement (an "Agreement") duly executed on behalf of
the Company and by the Participant to whom such Award is granted and dated as of
the applicable date of grant.  Each Agreement shall comply with and be
subject to the terms of the Plan.

    

    4.10.         Evidence.  Evidence
required of anyone under the Plan may be by certificate, affidavit, document or
other information which the person acting on it considers pertinent and
reliable, and signed, made or presented by the proper party or
parties.

    

    4.11.         Action by
Company.  Any action required or permitted to be taken by the
Company shall be by resolution of the Board, or by action of one or more members
of the Board (including a committee of the Board) who are duly authorized to act
for the board, by a duly authorized officer of the Board, or (except to the
extent prohibited by the provisions of Rule 16b-3 or any other applicable rules)
by a duly authorized officer of the Company.

    

    4.12.          Gender
and Number.  Where the context admits, words in any gender
shall include any other gender, words in the singular shall include the plural
and the plural shall include the singular.

    

    4.13.          Section
409A.  To the extent that any portion of the Plan and the
Awards under the Plan are subject to the rules applicable to nonqualified
deferred compensation plans under Section 409A, such portion of the Plan and
such Awards are not intended to result in acceleration of income recognition or
imposition of penalty taxes by reason of Section 409A, and the terms of such
portion of the Plan and such Awards shall be interpreted in a manner (and such
portion of the Plan and such Awards may be amended to the extent determined
necessary or appropriate by the Committee) to avoid such acceleration and
penalties.The Committee may modify the time at
which any Award will be settled, paid-out, vested or transferred if it
determines that such modification may be necessary to avoid acceleration of tax
or imposition of penalties under Section 409A.  Regardless of whether
the Committee modifies or fails to modify the time at which any Award is
settled, paid-out, vested or transferred, each Director shall be solely liable
for any taxes, including without limitation taxes that may be imposed under
Section 409A, penalties and interest incurred with respect to all Awards granted
to the Director under the Plan.

    

    SECTION
5

    

    COMMITTEE

    

    5.1.           Selection
of Committee.  The Committee shall be the Directors and
Corporate Governance Committee.

    

    5.2.           Powers of
Committee.  The authority to manage and control the operation
and administration of the Plan shall be vested in the Committee.  The
Committee will have the authority to establish, amend, and rescind any rules and
regulations relating to the Plan, to determine the terms and provisions of any
agreements made pursuant to the Plan, and to make all other determinations that
may be necessary or advisable for the administration of the Plan.

    

    5.3.           Information
to be Furnished to Committee.  The Company shall furnish the
Committee with such data and information as may be required for it to discharge
its duties.  The records of the Company as to the period of a
Director's service shall be conclusive on all persons unless determined to be
incorrect.  Participants and other persons entitled to benefits under
the Plan must furnish the Committee such evidence, data or information as the
Committee considers desirable to carry out the terms of the Plan.

    

    5.4.           Liability
and Indemnification of Committee.  No member or authorized
delegate of the Committee shall be liable to any person for any action taken or
omitted in connection with the administration of the Plan unless attributable to
his own fraud or willful misconduct; nor shall the Company be liable to any
person for any such action unless attributable to fraud or willful misconduct on
the part of a director or employee of the Company.  The Committee, the
individual members thereof, and persons acting as the authorized delegates of
the Committee under the Plan, shall be indemnified by the Company, to the
fullest extent permitted by law, against any and all liabilities, losses, costs
and expenses (including legal fees and expenses) of whatsoever kind and nature
which may be imposed on, incurred by or asserted against the Committee or its
members or authorized delegates by reason of the performance of a Committee
function if the Committee or its members or authorized delegates did not act
dishonestly or in willful violation of the law or regulation under which such
liability, loss, cost or expense arises.  This indemnification shall
not duplicate but may supplement any coverage available under any applicable
insurance.

    

    SECTION
6

    

    AMENDMENT AND
TERMINATION

    

    The Board may, at any time, amend or
terminate the Plan, provided that, subject to subsection 4.3 (relating to
certain adjustments to shares), no amendment or termination may adversely affect
the rights of any Participant or beneficiary under any Award made under the Plan
prior to the date such amendment is adopted by the Board.  No
amendment or termination shall be adopted or effective if it would result in
accelerated recognition of income or imposition of additional tax under Section
409A or, except as otherwise provided in the amendment, would cause amounts that
were not otherwise subject to Section 409A to become subject to Section
409A.

    

    SECTION
7

    

    DEFINED
TERMS

    

    For purposes of the Plan, the terms
listed below shall be defined as follows:

    

    
      	
              (a)

            	
              Annual
      Meeting.  The term "Annual Meeting" shall mean an annual
      meeting of the stockholders of the
Company.

            

    

    

    
      	
              (b)

            	
              Award.  The
      term "Award" shall mean an award of stock options, restricted stock or
      restricted stock units granted to any person under the
    Plan.

            

    

    

    
      	
              (c)

            	
              Board.  The
      term "Board" shall mean the Board of Directors of the
    Company.

            

    

    

    
      	
              (d)

            	
              Change
      in Control.  A "Change in Control" shall be deemed to
      have occurred if:

            

    

    

    
      	
               
      

            	
              (1)

            	
              any
      "person" as such term is used in Sections 13(d) and 14(d) of the
      Exchange Act (other than the Company, any trustee or other fiduciary
      holding securities under an employee benefit plan of the Company, or any
      company owned, directly or indirectly, by the stockholders of the Company
      in substantially the same proportions as their ownership of stock of the
      Company), is or becomes the "beneficial owner" (as defined in Rule 13d-3
      under the Exchange Act), directly or indirectly, of securities of the
      Company representing 25% or more of the combined voting power of the
      Company's then outstanding
securities;

            

    

    

    
      	
               
      

            	
              (2)

            	
              during
      any period of two consecutive years (not including any period prior to the
      effective date of this provision), individuals who at the beginning of
      such period constitute the Board, and any new director (other than a
      director designated by a person who has entered into an agreement with the
      Company to effect a transaction described in clause (1), (3) or (4) of
      this definition) whose election by the Board or nomination for election by
      the Company's stockholders was approved by a vote of at least two-thirds
      (2/3) of the directors then still in office who either were directors at
      the beginning of the period or whose election or nomination for election
      was previously so approved, cease for any reason to constitute at least a
      majority thereof;

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      stockholders of the Company approve a merger or consolidation of the
      Company with any other company other than (i) a merger or
      consolidation which would result in the voting securities of the Company
      outstanding immediately prior thereto continuing to represent (either by
      remaining outstanding or by being converted into voting securities of the
      surviving entity) more than 80% of the combined voting power of the voting
      securities of the Company (or such surviving entity) outstanding
      immediately after such merger or consolidation, or (ii) a merger or
      consolidation effected to implement a recapitalization of the Company (or
      similar transaction) in which no "person" (as hereinabove defined)
      acquires more than 25% of the combined voting power of the Company's then
      outstanding securities; or

            

    

    

    
      	
               
      

            	
              (4)

            	
              the
      stockholders of the Company adopt a plan of complete liquidation of the
      Company or approve an agreement for the sale or disposition by the Company
      of all or substantially all of the Company's assets.  For
      purposes of this clause (4), the term "the sale or disposition by the
      Company of all or substantially all of the Company's assets" shall mean a
      sale or other disposition transaction or series of related transactions
      involving assets of the company or of any direct or indirect subsidiary of
      the Company (including the stock of any direct or indirect subsidiary of
      the Company) in which the value of the assets or stock being sold or
      otherwise disposed of (as measured by the purchase price being paid
      therefor or by another objective method in a case where there is no
      readily ascertainable purchase price) constitutes more than two-thirds of
      the fair market value of the Company.  For purposes of the
      preceding sentence, the "fair market value of the Company" shall be the
      aggregate market value of the outstanding shares of Stock (on a fully
      diluted basis) plus the aggregate market value of the Company's other
      outstanding equity securities (excluding employee Stock options). The
      aggregate market value of the shares of Stock (on a fully diluted basis)
      outstanding on the date of the execution and delivery of a definitive
      agreement with respect to the transaction or series of related
      transactions (the "Transaction Date") shall be determined by the average
      closing price of the shares of Stock for the ten trading days immediately
      preceding the Transaction Date.  The aggregate market value of
      any other equity securities of the Company shall be determined in a manner
      similar to that prescribed in the immediately preceding sentence for
      determining the aggregate market value of the shares of
    Stock.

            

    

    

    
      	
              (e)

            	
              Date
      of Termination.  A Participant's "Date of Termination"
      shall be the date of the Participant’s separation from service from the
      Company and its affiliates, as determined under Section
    409A.

            

    

    

    
      	
              (f)

            	
              Director.  The
      term "Director" means a member of the
Board.

            

    

    

    
      	
              (g)

            	
              Disability.  A
      Participant shall be considered to have a "Disability" during the period
      in which he is unable, by reason of a medically determinable physical or
      mental impairment, to engage in any substantial gainful activity, which
      condition, in the opinion of a physician selected by the Committee, is
      expected to have a duration of not less than 120
  days.

            

    

    

    
      	
              (h)

            	
              Effective
      Date.  The "Effective Date" shall have the meaning
      ascribed to it in paragraph (a) of Section
4.1.

            

    

    

    
      	
              (i)

            	
              Eligible
      Director.  Each Director who is not an employee of the
      Company or any Related Company shall be an "Eligible
      Director".

            

    

    

    
      	
              (j)

            	
              Fair
      Market Value.  The "Fair Market Value" of the Stock shall
      be the closing price of a share of Common Stock on the New York Stock
      Exchange Composite Transaction Report on the valuation date; provided,
      however, that if there were no sales on the valuation date but there were
      sales on dates within a reasonable period before the valuation date, the
      Fair Market Value is the closing price on the nearest date before the
      valuation date; and further provided that the Fair Market Value for Awards
      granted under the Plan prior to January 1, 2008 shall be determined in
      accordance with the applicable provisions of the Plan as in effect prior
      to the amendment and restatement of the Plan as set forth
      herein.  In any event, the determination of "Fair Market Value"
      shall be consistent with the requirements of Treasury Regulation Section
      1.409A-1(b)(5)(iv)(A).

            

    

    

    
      	
              (k)

            	
              Immediate
      Family.  With respect to a particular Participant, the
      term "Immediate Family" shall mean the Participant's spouse, children,
      stepchildren, adoptive relationships, sisters, brothers and
      grandchildren.

            

    

    

    
      	
              (l)

            	
              Option
      Award.  The term "Option Award" shall mean a
      non-qualified stock option granted under the
  Plan.

            

    

    

    
      	
              (m)

            	
              Participant.  A
      "Participant" is any person who has received an Award under the
      Plan.

            

    

    

    
      	
              (n)

            	
              Plan
      Year.  The term "Plan Year" means the period
      (i) beginning on the date of an Annual Meeting and (ii) ending
      on the day immediately prior to the following Annual
    Meeting.

            

    

    

    
      	
              (o)

            	
              Related
      Companies.  The term "Related Company" means any company
      during any period in which it is a "subsidiary corporation" (as that term
      is defined in Code section 424(f)) with respect to the
      Company.

            

    

    

    
      	
              (p)

            	
              Retirement.  The
      term "Retirement" means termination of service as a Director in accordance
      with and pursuant to the Retirement Policy for Directors adopted by the
      Company.

            

    

    

    
      	
              (q)

            	
              SEC.  "SEC"
      shall mean the Securities and Exchange
  Commission.

            

    

    

    
      	
              (r)

            	
              SFAS
      123(R).  "SFAS 123(R)" shall mean Statement of Financial
      Accounting Standards No. 123 (revised
2004).

            

    

    

    (s)           Stock.  The
term "Stock" shall mean shares of common stock of the
Company.

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