Document:

Exhibit 10.78

    
      

    

    Exhibit
      10.78

    PHELPS
      DODGE CORPORATION

     

    SUPPLEMENTAL
      SAVINGS PLAN

     

    Amended
      and Restated effective January 1, 2005

     

    
      
        
        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

     

    SUPPLEMENTAL
      SAVINGS PLAN

     

     

    TABLE
      OF CONTENTS

     

    

      
        	
                ARTICLE
                  I 

              	
                1

              
	
                ARTICLE
                  II 

              	
                1

              
	
                2.1
                  DEFINITIONS

                2.2
                  CONSTRUCTION

              	
                1

                5

              
	
                ARTICLE
                  III 

              	
                5

              
	
                3.1
                  SELECTION OF PARTICIPANTS

                3.2
                  DISCONTINUANCE OF PARTICIPATION

                3.3
                  ADOPTION BY AFFILIATES

                3.4
                  CHANGE IN AFFILIATE STATUS

                3.5
                  SPECIAL ARRANGEMENTS

              	
                5

                6

                7

                7

                7

              
	
                ARTICLE
                  IV

              	
                7

              
	
                4.1
                  PARTICIPANT CONTRIBUTIONS

                4.2
                  MATCHING CONTRIBUTIONS

                4.3
                  PROFIT SHARING CONTRIBUTIONS

              	
                7

                8

                9

              
	
                ARTICLE
                  V

              	
                10

              
	
                5.1
                  SPECIAL PURPOSE DEFERRAL CONTRIBUTIONS

                5.2
                  HARDSHIP

                5.3
                  NO ACCELERATION OF BENEFITS

                5.4
                  LIMITATION ON DISTRIBUTIONS

              	
                10

                10

                11

                11

              
	
                ARTICLE
                  VI

              	
                11

              
	
                6.1
                  TRANSFER TO TRUSTEE; ALLOCATION OF CONTRIBUTIONS

                6.2
                  INVESTMENT EARNINGS OR LOSSES

                6.3
                  INVESTMENT DIRECTION

                6.4
                  FORFEITURES

              	
                11

                11

                12

                13

              
	
                ARTICLE
                  VII

              	
                13

              
	
                7.1
                  VESTING

              	
                13

              
	
                ARTICLE
                  VIII

              	
                13

              
	
                8.1
                  TIME OF PAYMENT

                8.2
                  PARTICIPATION ELECTIONS

                8.3
                  METHOD OF PAYMENT 

                8.4
                  BENEFICIARY DESIGNATIONS

                8.5
                  LIMITATION ON DISTRIBUTIONS

              	
                13

                14

                16

                16

                17

              
	
                ARTICLE
                  IX

              	
                17

              
	
                9.1
                  ADOPTION OF TRUST

                9.2
                  POWERS OF THE PLAN ADMINISTRATOR

                9.3
                  CREATION OF COMMITTEE

                9.4
                  APPOINTMENT OF AGENTS

                9.5
                  CONFLICT OF INTEREST

                9.6
                  ACTION TAKEN BY COMPANY

                9.7
                  DELEGATIONS OF AUTHORITY

              	
                17

                17

                18

                18

                18

                18

                19

              

      

    

     

    
      
        
          i

        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              9.8
                INDEMNIFICATION

            	
              19

            
	
              ARTICLE
                X

            	
              19

            
	
              10.1
                APPLICATION FOR BENEFITS NOT REQUIRED

              10.2
                CLAIMS PROCEDURES

            	
              19

              19

            
	
              ARTICLE
                XI

            	
              23

            
	
              11.1
                ANTI-ALIENATION CLAUSE

              11.2
                PERMITTED ARRANGEMENTS

              11.3
                PAYMENT TO MINOR OR INCOMPETENT

              11.4
                UNDERPAYMENT OR OVERPAYMENT OF BENEFITS

            	
              23

              23

              23

              24

            
	
              ARTICLE
                XII

            	
              24

            
	
              12.1
                AMENDMENT

              12.2
                MERGER OR CONSOLIDATION OF COMPANY

              12.3
                TERMINATION OF PLAN OR DISCONTINUANCE OF
                CONTRIBUTIONS

            	
              24

              24

              25

            
	
              ARTICLE
                XIII

            	
              25

            
	
              13.1
                LIMITATION ON PARTICIPANTS’ RIGHTS

              13.2
                STATUS OF PARTICIPANTS AS UNSECURED CREDITORS

              13.3
                EXCEPTION TO CONTRIBUTION RULE

              13.4
                STATUS OF TRUST FUND

              13.5
                FUNDING UPON A CHANGE OF CONTROL

              13.6
                UNIFORM ADMINISTRATION

              13.7
                HEIRS AND SUCCESSORS

              13.8
                NO LIABILITY FOR ACCELERATION OF PAYMENTS

              13.9
                SECTION 409A

            	
              25

              25

              25

              26

              26

              26

              26

              26

              27

            

    

    
      
        
          ii

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

     

    PHELPS
      DODGE CORPORATION

     

    SUPPLEMENTAL
      SAVINGS PLAN

     

    ARTICLE
      I.

     

    PREAMBLE

     

     

    Phelps
      Dodge Corporation (the “Company”), a corporation organized and existing under
      the laws of the State of New York, previously adopted the Comprehensive
      Executive Nonqualified Retirement and Savings Plan of Phelps Dodge Corporation
      (the “Comprehensive Plan”). The Comprehensive Plan consisted, primarily, of
      supplemental executive retirement provisions and supplemental savings
      provisions. The Company previously split the Comprehensive Plan into two
      separate plans and replaced the supplemental savings provisions of the
      Comprehensive Plan with the Phelps Dodge Corporation Supplemental Savings Plan
      (the “Plan”), the terms and provisions of which are set forth in this Plan
      document. The Company amended and restated the Plan in its entirety, which
      generally became effective as of January 1, 2003. 

     

     

    By
      the
      adoption of this document, the Company amends and restates the Plan in its
      entirety. This amended and restated Plan document is effective, generally as
      of
      January 1, 2005 (the “Effective Date”), but special effective dates may apply to
      particular provisions, as noted below. All amounts previously deferred by
      Participants or contributed by the Company or any other Employer pursuant to
      the
      supplemental savings provisions of the Comprehensive Plan, as well as any
      amounts credited or charged to a Participant’s accounts pursuant to the
      supplemental savings provisions of the Comprehensive Plan, shall be governed
      by
      the terms and conditions of this amended and restated Plan
      document.

     

     

    The
      purpose of this Plan is to provide a select group of management or highly
      compensated employees of the Company and certain of its affiliates with the
      opportunity to defer a portion of their compensation and to receive related
      contributions from their Employers. As a result, the Plan shall be considered
      to
      be a “top hat plan”, exempt from many of the requirements of the Employee
      Retirement Income Security Act of 1974 (“ERISA”). This Plan is not intended to
“qualify” for favorable tax treatment pursuant to Section 401(a) of the Internal
      Revenue Code of 1986 (the “Code”) or any successor section or statute.

     

    ARTICLE
      II.

     

    DEFINITIONS
      

     

    2.1  DEFINITIONS.

     

     

    When
      a
      word or phrase appears in this Plan with the initial letter capitalized, and
      the
      word or phrase does not begin a sentence, the word or phrase shall generally
      be
      a term 

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    defined
      in this Section 2.1 or in the Preamble. The following words and phrases used
      in
      the Plan with the initial letter capitalized shall have the meanings set forth
      in this Section 2.1, unless a clearly different meaning is required by the
      context in which the word or phrase is used:

     

    (a)  “Account”
      or “Accounts”
      means
      the accounts which may be maintained by the Plan Administrator to reflect the
      interest of a Participant under the Plan.

     

    (b)  “Affiliate”
      means
      (1) a corporation which is a member of the same controlled group of corporations
      (within the meaning of Section 414(b) of the Code) as is the Company, (2) any
      other trade or business (whether or not incorporated) controlling, controlled
      by, or under common control with the Company (within the meaning of Section
      414(c) of the Code), (3) any other corporation, partnership, or other
      organization which is a member of an affiliated service group (within the
      meaning of Section 414(m) of the Code) with the Company, and (4) any other
      corporations, partnerships, or other organizations which are otherwise required
      to be aggregated with the Company pursuant to Section 414(o) of the
      Code.

     

    (c)  “AICP”
      means
      the Phelps Dodge Annual Incentive Compensation Plan, as in effect and as may
      be
      amended from time to time or any plan or program that specifically replaces
      the
      AICP.

     

    (d)  “Base
      Salary”
      means
      the total regular salary paid by an Employer to a Participant during the Plan
      Year. “Base Salary” excludes commissions, bonuses, overtime, living or other
      allowances, contributions by an Employer under this Plan or any other employee
      benefit plan of the Employer (excluding employee salary deferrals under this
      Plan or the Savings Plan), or other extra, incentive, premium, contingent,
      supplemental, or additional compensation, all as determined and defined by
      the
      Plan Administrator in the exercise of its discretion. For purposes of Sections
      4.2 (Matching Contributions.) and 4.3 (Profit Sharing Contributions.), only
      the
      Base Salary paid to the Participant during the portion of the Plan Year in
      which
      the Participant is an “eligible Participant” pursuant to Section 4.2 (Matching
      Contributions.) or Section 4.3 (Profit Sharing Contributions), as applicable,
      will be considered.

     

    (e)  “Beneficiary”
      means
      the person or trust that a Participant, in his most recent written designation
      filed with the Plan Administrator, shall have designated to receive his Accounts
      under the Plan in the event of his death.

     

    (f)  “Board
      of Directors”
      means
      the Board of Directors of the Company.

     

    (g)  “Change
      of Control”
      For
      purposes of this Plan, the phrase “Change of Control” shall have the same
      meaning as given to that phrase in the Company’s Change of Control Agreements as
      may be in effect from time to time.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (h)  “Change
      of Control Agreement”
      means
      the agreement entered into by and between the Participant and the Company,
      which
      provides the Participant with certain termination benefits in the event that
      the
      Participant’s employment with the Company or any subsidiary of the Company is
      terminated under certain limited circumstances as a result of a Change of
      Control.

     

    (i)  “Compensation”
      means
      the sum of a Participant’s Base Salary and Incentive Compensation.

     

    (j)  “Deferral
      Contributions”
      means
      the Regular and Special Purpose Deferral Contributions made by a Participant
      pursuant to Section 4.1 (Participant Contributions.).

     

    (k)  “Deferral
      Contributions Account”
      means
      the Account maintained to record the Deferral Contributions made by a
      Participant pursuant to Section 4.1 (Participant Contributions). The Deferral
      Contributions Account shall be divided into as many subaccounts as the Plan
      Administrator deems necessary to distinguish between the different types of
      Deferral Contributions and the dates on which they are to be
      distributed.

     

    (l)  “Disability”
      means a
      mental or physical condition that results in a Participant’s receipt, without
      considering any offsets, of long-term disability payments under the LTD Plan.
      For purposes of this Plan, a Participant shall be conclusively presumed to
      be
      under Disability only during the period of time that the Participant qualifies
      to receive such benefits under the applicable LTD Plan.

     

    (m)  “Distribution
      Date”
      means
      the date or dates selected by the Participant and agreed to by the Plan
      Administrator on the form prescribed by the Plan Administrator as the date
      or
      dates on which the Participant’s Special Purpose Deferral Contributions are to
      be distributed to the Participant.

     

    (n)  “Employee”
      means
      any individual classified by his Employer as a common law employee of the
      Employer. For this purpose, the classification that is relevant is the
      classification in which such individual is placed by the Employer for purposes
      of this Plan and the classification of such individual for any other purpose
      (e.g., employment tax or withholding purposes) shall be irrelevant. If an
      individual is characterized as a common law employee of the Employer by a
      governmental agency or court but not by the Employer, such individual shall
      be
      treated as an employee who has not been designated for participation in this
      Plan.

     

    (o)  “Employer”
      means
      the Company and any Affiliate that have elected to adopt this Plan pursuant
      to
      Section 3.5 (Adoption By Affiliates.)

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (p)  “Employer
      Contributions Accounts”
      means
      the Profit Sharing Contributions Account and the Matching Contributions Account
      maintained for a Participant.

     

    (q)  “Incentive
      Compensation”
      means
      the amount awarded to any Participant in any year under the AICP.

     

    (r)  “Investment
      Fund”
      means
      the investment fund or funds established by the Plan Administrator pursuant
      to
      Section 6.3 (Investment Direction.)

     

    (s)  “LTD
      Plan”
      means
      the Company’s Long Term Disability Insurance Plan (or any other similar plan
      sponsored by an Employer to provide long term disability benefits) as in effect
      from time to time.

     

    (t)  “Matching
      Contributions”
      means
      the contributions made by an Employer on behalf of a Participant or all
      Participants pursuant to Section 4.2 (Matching Contributions.).

     

    (u)  “Matching
      Contributions Account”
      means
      the Account maintained to record the Matching Contributions, if any, made by
      the
      Company on a Participant’s behalf pursuant to Section 4.2 (Matching
      Contributions.).

     

    (v)  “Participant”
      means
      any Employee selected for participation pursuant to Section 3.1 (Selection
      of
      Participants.). Depending on the context, the term Participant also may refer
      to
      a current or former Employee who no longer is making contributions to the Plan
      but who has not received a distribution of all amounts to which he is
      entitled.

     

    (w)  “Plan
      Administrator”
      means
      the Benefits Administration Committee.

     

    (x)  “Plan
      Year”
      means
      the 12 month period beginning on each January 1 and ending on the next following
      December 31.

     

    (y)  “Profit
      Sharing Contributions”
      means
      the contributions made by an Employer on behalf of a Participant pursuant to
      Section 4.3 (Profit Sharing Contributions.).

     

    (z)  “Profit
      Sharing Contributions Account”
      means
      the Account maintained to record the Profit Sharing Contributions made on behalf
      of a Participant pursuant to Section 4.3 (Profit Sharing
      Contributions.).

     

    (aa)  “Regular
      Deferral Contribution”
      means a
      Deferral Contribution that may only be distributed following a Participant’s
      termination of employment.

     

    (bb)  “Savings
      Plan”
      means
      the Phelps Dodge Employee Savings Plan, as in effect and as may be amended
      and
      restated from time to time. Any references to the 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    particular
      sections of the Savings Plan shall be deemed to be references to any amended
      and/or substituted provisions if the referenced section is amended or
      replaced.

     

    (cc)  “Special
      Purpose Deferral Contribution”
      means a
      Deferral Contribution that will become distributable upon a Distribution Date
      designated by the Participant on the form prescribed by the Plan
      Administrator.

     

    (dd)  “Trust
      Agreement”
      means
      that certain trust agreement established pursuant to the Plan between the
      Company and the Trustee or any trust agreement hereafter established, the
      provisions of which are incorporated herein by reference.

     

    (ee)  “Trustee”
      means
      the Trustee under the Trust Agreement.

     

    (ff)  “Trust
      Fund”
      means
      all assets of whatsoever kind or nature held from time to time by the Trustee
      pursuant to the Trust Agreement, without distinction as to income and principal
      and without regard to source, (i.e., Employer or Participant contributions,
      earnings or forfeitures).

     

    (gg)  “Valuation
      Date”
      means
      each day on which the New York Stock Exchange is open for trading.

     

    
      	2.2  	
              CONSTRUCTION.

            

    

     

     

    The
      masculine gender, where appearing in the Plan, shall include the feminine gender
      (and vice versa), and the singular shall include the plural, unless the context
      clearly indicates to the contrary. Headings and subheadings are for the purpose
      of reference only and are not to be considered in the construction of this
      Plan.
      If any provision of this Plan is determined to be for any reason invalid or
      unenforceable, the remaining provisions shall continue in full force and effect.
      All of the provisions of this Plan shall be construed and enforced in accordance
      with the laws of the State of Arizona.

     

    ARTICLE
      III.

     

    ELIGIBILITY
      

     

    
      	3.1  	
              SELECTION
                OF PARTICIPANTS.

            

    

     

    (a)  GENERAL
      RULE.
      An
      Employee who was participating in the Plan prior to January 1, 2000 shall
      continue to be eligible to participate in the Plan, subject to the Plan
      Administrator’s right to terminate a Participant’s participation pursuant to
      Sections 3.1(c) (Selection of Participants. — Limitation
      of Participation.)
      or 3.2
      (Discontinuance of Participation.). Effective as of January 1, 2000, all
      Employees who are eligible to participate in the AICP are eligible to
      participate in the Plan, regardless of the individual’s AICP grade
      classification. From such group, the Plan Administrator shall select Employees
      for participation in the Plan. The Plan Administrator’s selections shall be made
      in its sole discretion and shall be final and binding for all purposes under
      

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    this
      Plan. Any Employee who was participating in the Plan prior to the Effective
      Date
      shall continue to be eligible to participate in the Plan, subject to the Plan
      Administrator’s right to terminate a Participant’s participation pursuant to
      Sections 3.1(c) (Selection of Participants. — Limitation
      of Participation.)
      or 3.2
      (Discontinuance of Participation).

     

    (b)  NO
      WAITING PERIODS.
      A
      Participant need not complete any particular period of service in order to
      be
      eligible to make Deferral Contributions. In order to receive allocations of
      Employer Matching Contributions or Profit Sharing Contributions for a Plan
      Year,
      however, a Participant must also be eligible to receive matching contributions
      under the Savings Plan for that Plan Year, as determined in accordance with
      the
      provisions of the Savings Plan.

     

    (c)  LIMITATION
      OF PARTICIPATION.
      For
      purposes of Title I of ERISA, the Plan is intended to be an unfunded plan of
      deferred compensation covering a select group of management or highly
      compensated employees. As a result, participation in the Plan shall be limited
      to Employees who are properly included in one or both of these categories.
      The
      Plan Administrator, in the exercise of its sole discretion, may exclude an
      Employee who otherwise meets the requirements of Section 3.1(a) from
      participation in the Plan if it concludes that the exclusion of that Employee
      is
      necessary in order to satisfy these requirements. The Plan Administrator also
      may exclude an Employee who otherwise meets the requirements of Section 3.1(a)
      for any other reason, or for no reason, as the Plan Administrator deems to
      be
      appropriate in its sole discretion.

     

    
      	3.2  	
              DISCONTINUANCE
                OF PARTICIPATION.

            

    

     

     

    Once
      an
      individual is designated as a Participant, he will continue as such for all
      future Plan Years until his participation is discontinued pursuant to this
      Section. A Participant’s participation in the Plan is discontinued (a) if the
      Participant is no longer eligible to participate in the Plan under Section
      3.1(c) (Limitation of Participation.); (b) if the Participant is transferred
      to
      employment with an Affiliate that has not elected to adopt the Plan; (c) if
      the
      Participant’s participation is suspended pursuant to Section 5.3(c)
      (Acceleration of Benefits. — Suspension
      of Participation.);
      or
      (d) effective as of January 1, 2005, as of the next Plan Year commencing after
      the date a Participant is no longer eligible to be a participant in the AICP,
      for whatever reason. The Plan Administrator may decide to discontinue a
      Participant’s participation in the Plan at any time for any or no reason,
      provided that any such discontinuance of participation shall become effective
      on
      January 1 of the following calendar year. If a Participant’s participation is
      discontinued, he will no longer be eligible to make Deferral Contributions
      or to
      receive Matching or Profit Sharing Contributions on or after the date on which
      such discontinuance became effective. The Participant will not be entitled
      to
      receive a distribution, however, until the occurrence of one of the events
      listed in Articles V or VIII. 

     

    
      
        
        

      

      
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      	3.3  	
              ADOPTION
                BY AFFILIATES.

            

    

     

     

    Any
      Affiliate of the Company may adopt this Plan with the approval of the Plan
      Administrator. Any Affiliate that permits an Employee to make Deferral
      Contributions pursuant to Section 4.1 (Participant Contributions.), or that
      allowed an Employee to defer compensation pursuant to the Comprehensive Plan
      in
      the past, shall be deemed to have adopted this Plan without any further action.
      At the request of the Plan Administrator, however, the Affiliate shall evidence
      its adoption of the Plan by an appropriate resolution of its board of directors
      or in such other manner as may be authorized by the Plan Administrator. By
      adopting this Plan, the Affiliate shall be deemed to have agreed to make the
      contributions required by Article IV, agreed to comply with all of the other
      terms and provisions of this Plan, delegated to the Plan Administrator the
      power
      and responsibility to administer this Plan with respect to the Affiliate’s
      Employees, and delegated to the Company the full power to amend or terminate
      this Plan with respect to the Affiliate’s Employees and as otherwise permitted
      by the Plan.

     

    
      	3.4  	
              CHANGE
                IN AFFILIATE STATUS.

            

    

     

     

    If
      an
      Affiliate that has adopted this Plan ceases to be an Affiliate of the Company,
      that Affiliate shall no longer be an Employer and all Participants employed
      by
      that Affiliate on the date the Affiliate ceases to be an Affiliate shall be
      deemed to have terminated employment on such date.

     

    
      	3.5  	
              SPECIAL
                ARRANGEMENTS.

            

    

     

     

    The
      Company has the discretion to enter into special arrangements with individuals
      which allow such individuals to receive benefits on some basis other than
      pursuant to the provision of Articles III, IV and V. All such special
      arrangements shall be set forth in writing. The remaining provisions of this
      Plan may apply to any such individual if the Company and the individual so
      agree; provided, however, that if any provision of this Plan conflicts with
      a
      provision included in the written document that describes the special
      arrangement, the provision of that written document shall control; and provided
      further that any such special arrangements shall apply only with respect to
      amounts in a Participant’s Account that had accrued and vested on or prior to
      December 31, 2004. 

     

    ARTICLE
      IV

     

    CONTRIBUTIONS
      

     

    4.1  PARTICIPANT
      CONTRIBUTIONS.

     

    (a)  GENERAL
      RULE.
      For any
      Plan Year, a Participant may elect to defer a portion of the Participant’s Base
      Salary or Incentive Compensation otherwise payable to him. Any such deferrals
      shall be expressed in whole percentages or as a specific dollar amount, as
      specified in the Participant’s election form. Except as otherwise provided in

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Section
      13.4 (Exception to Contribution Rule.), amounts deferred shall be transferred
      by
      the Company or the appropriate Affiliate to the Trust.

     

    (b)  REGULAR
      OR SPECIAL PURPOSE DEFERRAL CONTRIBUTIONS.
      As
      provided in Sections 8.2 (Participation Elections.), in each election form
      filed, the Participant shall characterize his Deferral Contributions as Regular
      Deferral Contributions or Special Purpose Deferral Contributions. Pursuant
      to
      Article V, Regular Deferral Contributions are only distributable following
      the
      Participant’s termination of employment. Special Purpose Deferral Contributions
      become distributable upon the Distribution Date specified by the Participant.
      Unless the Plan Administrator adopts rules limiting the number of Distribution
      Dates that a Participant may specify, the Participant may designate any number
      of Distribution Dates.

     

    (c)  LIMITATIONS
      ON DEFERRALS.
      The Plan
      Administrator may limit the amount of Deferral Contributions that the
      Participant designates on his election form in accordance with such uniform
      rules as it may adopt from time to time. 

     

    (d)  CHANGE
      IN CONTRIBUTIONS.
      As
      provided in Section 8.2(b) (Participation Elections. — Revised Elections.), a
      Participant must file a new election form prior to each new Plan Year to select
      the amount or rate of Deferral Contributions for the following Plan Year. If
      a
      Participant does not file a new election form at such time, no Deferral
      Contributions will be withheld from the Participant’s Compensation during the
      following Plan Year. 

     

    (e)  SUSPENSION
      OF DEFERRAL CONTRIBUTIONS.
      A
      Participant may suspend the Deferral Contributions being made from his Base
      Salary at any time by so notifying the Plan Administrator in writing and in
      accordance with such rules of uniform application as the Plan Administrator
      may
      adopt from time to time, provided that such suspension shall become effective
      on
      or after January 1 of the following calendar year. If a Participant suspends
      his
      Deferral Contributions with respect to Base Salary, the Participant may not
      file
      a new election form electing to make Deferral Contributions with respect to
      Base
      Salary until the December 1 of the year next following the year in which such
      suspension occurred. The Deferral Contributions made pursuant to such new
      election form may then commence in accordance with the provisions of Section
      8.2(b) (Participation Elections. — Revised Elections.). A Participant may not
      suspend the Deferral Contributions being made from his Incentive Compensation.
      

     

    4.2  MATCHING
      CONTRIBUTIONS.

     

    Each
      Employer shall make a Matching Contribution on behalf of each of its “eligible
      Participants”. For this purpose, a Participant is an “eligible Participant” if
      (i) the Participant is eligible to receive a Company Matching Contribution
      under
      the Savings Plan, and (ii) for the immediately preceding Plan Year the
      Participant has made Pre-Tax Deferral Contributions (as such term is defined
      in
      the Savings Plan) to the Savings Plan in an amount equal to the lesser of the
      maximum elective deferrals permitted by Section 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    402(g)
      of
      the Code or any other limitation imposed by the Savings Plan, provided that,
      for
      the first Plan Year in which a Participant is eligible to receive a Company
      Matching Contribution under the Savings Plan, such Participant shall be deemed
      to be an eligible Participant. Effective January 1, 2001, the Matching
      Contribution due for each eligible Participant shall equal the difference
      between (i) 100% of the first 3% of a Participant’s Base Salary plus 50% of the
      next 2% of a Participant’s Base Salary; and (ii) the Company Matching
      Contribution for such eligible Participant under the Savings Plan. Except as
      otherwise provided in Section 13.4 (Exception to Contribution Rule.), the
      Matching Contributions shall be transmitted to the Trust following the end
      of
      the Plan Year for which such Matching Contributions are due. The Matching
      Contributions shall be allocated to the Matching Contributions Accounts of
      the
      eligible Participants. If a Participant was eligible to receive a Company
      Matching Contribution under the Savings Plan for only a part of a Plan Year,
      only the Base Salary paid in such part of the Plan Year will be considered
      for
      purposes of this Section 4.2.

     

    4.3  PROFIT
      SHARING CONTRIBUTIONS.

     

    (a)  ELIGIBILITY.
      For each
      Plan Year, but subject to the limitations set forth below, each Employer shall
      make a Profit Sharing Contribution on behalf of each of its “eligible
      Participants.” For purposes of this Section, a Participant will be considered to
      be an “eligible Participant” only if (i) the Participant is also a Participant
      in the Savings Plan, and (ii) the Participant is eligible, generally, to receive
      a “Company Profit Sharing Contribution” (as such term is defined in the Savings
      Plan).

     

    (b)  AMOUNT.
      The
      Profit Sharing Contribution to which each eligible Participant is entitled
      pursuant to Section 4.3(a) shall be equal to: (i) the Participant’s “eligible
      Base Salary” multiplied by the “applicable percentage” for that Plan Year; less
      (ii) the maximum Company Profit Sharing Contribution that could be allocated
      to
      the Participant under the Savings Plan for that Plan Year in accordance with
      applicable limitations under Sections 401(a)(17), 402(g) and 415 of the Code.
      For this purpose, the “applicable percentage” is the percentage specified by the
      Company on or before December 31 of any year to be applicable for the following
      Plan Year, provided that, if no percentage is specified by any December 31,
      the
      applicable percentage shall be the percentage that is to be contributed to
      the
      accounts of Participants in the Savings Plan as Company Profit Sharing
      Contributions for the then-current Plan Year. A Participant’s “eligible Base
      Salary” is the Base Salary earned by the Participant for the portion of the Plan
      Year during which the Participant is eligible to receive a Company Profit
      Sharing Contribution under the Savings Plan. 

     

    (c)  SPECIAL
      SITUATIONS.
      The Plan
      Administrator shall have the discretion to allow a Participant to receive a
      Profit Sharing Contribution if the Participant otherwise satisfies all
      requirements for receiving a Company Profit Sharing Contribution under the
      Savings Plan but does not receive such contribution because the Participant
      is
      employed by an Employer that does not make profit sharing contributions to
      the
      Savings Plan.

     

    
      
        
        

      

      
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    ARTICLE
      V

     

    IN-SERVICE
      DISTRIBUTIONS AND WITHDRAWALS 

     

    5.1  SPECIAL
      PURPOSE DEFERRAL CONTRIBUTIONS.

     

    A
      Participant may designate a Distribution Date for Special Purpose Deferral
      Contributions in his initial or any subsequent election form. If the Participant
      makes such an election, the subaccount in the Participant’s Deferral
      Contributions Account that is maintained in order to record the Special Purpose
      Deferral Contributions that are to be distributed as of that Distribution Date
      will be distributed to the Participant as of the Distribution Date in one lump
      sum payment. The Distribution Date election shall apply only to subaccounts
      attributable to Special Purpose Deferral Contributions and no amounts
      attributable to Regular Deferral Contributions subaccounts or Employer
      Contributions Accounts will be distributed pursuant to a Distribution Date
      election. As a general rule, the death, Disability, or other termination of
      employment of a Participant shall not have any impact on the timing of the
      distribution of Special Purpose Deferral Contribution subaccounts, which will
      be
      distributed to the Participant (or the Participant’s Beneficiary in the case of
      death) as of the originally selected Distribution Date even though the
      Participant is no longer employed by an Employer. 

     

    5.2  HARDSHIP. 

     

    In
      the
      event of an unforeseeable financial emergency, a Participant may make a written
      request to the Plan Administrator for a hardship withdrawal from his Deferral
      Contributions Account or his Employer Contributions Accounts. The maximum
      hardship withdrawal shall be the balance of the Account or Accounts to which
      such hardship withdrawal is charged. For purposes of this Plan, an
“unforeseeable financial emergency” is defined as a severe financial hardship to
      the Participant resulting from a sudden and unexpected illness or accident
      of
      the Participant or a dependent (as such term is defined in Section 152(a) of
      the
      Code) of the Participant, loss of the Participant’s property due to casualty, or
      other similar extraordinary and unforeseeable circumstances arising as a result
      of events beyond the control of the Participant. The granting of a Participant’s
      request for a hardship withdrawal shall be left to the absolute, unfettered
      discretion of the Plan Administrator and the Plan Administrator may deny such
      request even if an unforeseeable financial emergency clearly exists. A request
      for a hardship withdrawal must be made in writing at least 30 days in advance
      of
      the withdrawal date, on a form provided by the Plan Administrator, and must
      be
      expressed as a specific dollar amount. The amount of a hardship withdrawal
      may
      not exceed the lesser of the amount required to meet the Participant’s
      unforeseeable financial emergency or the maximum withdrawal referred to above.
      A
      hardship withdrawal will not be permitted to the extent that the hardship is
      or
      may be relieved through reimbursement or compensation by insurance or otherwise,
      liquidation of the Participant’s assets to the extent that such liquidation
      would not itself cause a severe financial hardship, by the cessation of Deferral
      Contributions, or by a loan from the Savings Plan. 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    5.3  NO
      ACCELERATION OF BENEFITS.

     

    Except
      as
      otherwise provided in Article V, no accelerated withdrawals shall be permitted
      under this Plan. 

     

    5.4  LIMITATION
      ON DISTRIBUTIONS.

     

    To
      the
      extent that any payment under this Article, when combined with all other
      payments received during the year that are subject to the limitations on
      deductibility under Section 162(m) of the Code, exceeds the limitations on
      deductibility under Section 162(m) of the Code, such payment shall be deferred
      to a later calendar year. Such deferred amounts shall be paid in the next
      succeeding calendar year, provided that such payment, when combined with any
      other payments subject to the Section 162(m) limitations received during the
      year, does not exceed the limitations on deductibility under Section 162(m)
      of
      the Code. 

     

    ARTICLE
      VI 

     

    CREDITING
      OF CONTRIBUTIONS AND EARNINGS

     

    6.1  TRANSFER
      TO TRUSTEE; ALLOCATION OF CONTRIBUTIONS.

     

    All
      Deferral Contributions, Profit Sharing Contributions, and Matching Contributions
      shall be transmitted to the Trustee by the Company and the adopting Affiliates
      as soon as reasonably practicable. The Deferral Contributions, Profit Sharing
      Contributions and Matching Contributions shall be credited to the Deferral
      Contributions Account, Profit Sharing Contributions Account, or Matching
      Contributions Account maintained for that Participant. The Plan Administrator
      shall maintain a separate subaccount within the Deferral Contributions Account
      to record the Special Purpose Deferral Contributions (and any investment
      earnings or losses attributable to those Special Purpose Deferral Contributions)
      that are to be distributed as of each Distribution Date selected by a
      Participant. The Plan Administrator also may maintain such other subaccounts
      as
      it deems necessary or desirable. All payments from an Account between Valuation
      Dates shall be charged against the Account as of the preceding Valuation Date.
      The Accounts are bookkeeping accounts only and the Plan Administrator is not
      in
      any way obligated to segregate assets for the benefit of any
      Participant.

     

    6.2  INVESTMENT
      EARNINGS OR LOSSES.

     

    As
      of
      each Valuation Date, the Plan Administrator will determine the positive or
      negative earnings for each of the Investment Funds available pursuant to Section
      6.3(c). The Plan Administrator then will determine the portion of the “adjusted
      balance” of each of the Participant’s Accounts that is invested in each of the
      Investment Funds and will allocate the positive or negative earnings to
      Participant Accounts in proportion to the “adjusted balance” for that Account
      and that Investment Fund. For this purpose, the “adjusted balance” of an Account
      will be the balance of the Account as of the preceding 

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    Valuation
      Date less all withdrawals, distributions and other amounts chargeable against
      the Account pursuant to any other provisions of this Plan since the prior
      Valuation Date. The earnings adjustments allocated to any Account shall be
      allocated among the subaccounts of that Account in the same manner.

     

    6.3  INVESTMENT
      DIRECTION.

     

    (a)  INVESTMENT
      FUNDS.
      The Plan
      Administrator shall designate two or more Investment Funds in which each
      Participant shall direct the investment of amounts credited to his Accounts.
      The
      Investment Funds may be changed from time to time by the Plan
      Administrator.

     

    (b)  PARTICIPANT
      DIRECTIONS.

     

    (1)  GENERAL.
      Upon
      becoming a Participant in the Plan, each Participant may direct that all of
      the
      amounts attributable to his Accounts be invested in a single investment fund
      or
      may direct fractional (percentage) increments of his Accounts to be invested
      in
      such fund or funds as he shall desire, in accordance with such procedures,
      if
      any, as may be established by the Plan Administrator. As of each Valuation
      Date,
      a Participant may change his designations with respect to future contributions
      and direct transfers among Investment Funds by making an election in accordance
      with such procedures as may be established by the Plan Administrator. The
      designation will continue until changed in accordance with such
      procedures.

     

    (2)  DEFAULT
      SELECTION.
      In the
      absence of any designation, a Participant will be deemed to have directed the
      investment of his Accounts in the Money Market Fund.

     

    (3)  IMPACT
      OF ELECTION.
      The
      Participant’s selection of Investment Funds shall serve only as a measurement of
      the value of the Accounts of said Participant pursuant to Section 6.2 and
      Section 6.3(c) and the Plan Administrator and the Trustee are not required
      to
      invest a Participant’s Accounts in accordance with the Participant’s
      selections.

     

    (c)  RATE
      OF RETURN.
      As soon
      as possible after each Valuation Date, the Plan Administrator shall determine
      the rate of return, positive or negative, experienced on each of the Investment
      Funds. The rate of return determined by the Plan Administrator in good faith
      and
      in its discretion pursuant to this Section shall be binding and conclusive
      on
      the Participant, the Participant’s Beneficiary and all parties claiming through
      them. The Plan Administrator may delegate the responsibility for calculating
      the
      rate of return and the calculation and allocation of the investment earnings
      adjustments to the Accounts to a third party.

     

    (d)  CHARGES.
      In the
      exercise of its discretion, the Plan Administrator may charge one or more of
      the
      Participant’s Accounts for the reasonable 

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    expenses
      of carrying out investment instructions directly related to the Accounts, as
      the
      Plan Administrator deems appropriate.

     

    (e)  COMPANY
      STOCK FUND.
      The Plan
      Administrator in the exercise of its discretion may direct that one or more
      of
      the Investment Funds consist, primarily or exclusively, of Company securities.
      If such a Fund or Funds is established, a Participant’s ability to direct
      investments into or out of such Fund shall be subject to such procedures as
      the
      Plan Administrator may prescribe from time to time to assure compliance with
      Rule 16b-3 promulgated under Section 16(b) of the Securities Exchange Act of
      1934, as amended, the Sarbanes-Oxley Act of 2002, and any other applicable
      requirements. Such procedures also may limit or restrict a Participant’s ability
      to make (or modify previously made) elections pursuant to Sections 8.2
      (Participation Elections.).

     

    6.4  FORFEITURES.

     

    Any
      amounts forfeited pursuant to Section 5.3 (Acceleration of Benefits.) shall
      reduce the amounts that the Company would otherwise contribute to the Plan
      pursuant to Sections 4.2 (Matching Contributions) and 4.3 (Profit Sharing
      Contributions).

     

    ARTICLE
      VII 

     

    VESTING
      

     

    7.1  VESTING.

     

    Subject
      to Section 13.3 (Cancellation or Reduction of Accounts.), a Participant shall
      have a fully vested, nonforfeitable interest in his Accounts at all
      times.

     

    ARTICLE
      VIII 

     

    PAYMENT
      OF BENEFITS

     

    8.1  TIME
      OF PAYMENT.

     

    (a)  GENERAL.
      With the
      exception of the distribution or withdrawal of amounts pursuant to Article
      V and
      the distribution of amounts pursuant to Section 8.1(b), no distributions will
      be
      made to a Participant prior to the Participant’s death or termination of
      employment with the Company and all Affiliates. Subject to the provisions of
      Section 5.1 (Special Purpose Deferred Contributions.), which deals with the
      distribution of the Special Purpose Deferral Contributions subaccounts in a
      Participant’s Deferral Contributions Account, following the Participant’s death
      or termination of employment, distributions will commence on the last business
      day of the February in the Plan Year following the end of the Plan Year in
      which
      the Participant dies or terminates employment, provided that, if the event
      giving rise to such payment is a termination of employment and the Participant
      is a “specified employee” within the meaning of Section 409A of Code, then the
      portion of the amount to be distributed that has accrued and 

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    vested
      after December 31, 2004 shall instead be made on the later of (i) the date
      specified in the immediately preceding sentence and (ii) the first business
      day
      after the six-month anniversary of the Participant’s termination date. As
      provided in Section 8.2, a Participant may elect in his initial or any revised
      election form to defer the receipt of certain distributions until the later
      of
      termination of employment or a specified date. If such an election has been
      made
      (and, if the election was made in a revised election form, the election form
      has
      been in effect for the requisite period of time provided in Section 8.2(b)
      (Participation Elections. — Revised Elections.), distributions to the
      Participant (or the Participant’s Beneficiary in the case of death) shall be
      postponed to the extent necessary to honor such election. Notwithstanding any
      other provision of this Section 8.1(a) to the contrary, in the event a
      Participant terminates employment with the Company and all Affiliates, and
      is
      subsequently rehired by the Company or any of its affiliates within the same
      Plan Year, then the Participant shall not be eligible, on account of that
      termination, for a distribution pursuant to Section 8.1(a) (except for a
      distribution or withdrawal of amounts pursuant to Article V and the distribution
      of amounts pursuant to Section 8.1(b)). This distribution restriction in the
      event of a rehire applies whether or not the Employee is rehired within a
      classification eligible for participation in the Plan, or is otherwise excluded
      from participation pursuant to Section 3.1 (Selection of Participants.).

     

    (b)  SPECIAL
      PAYMENT PROVISIONS APPLICABLE ON SALE OF AFFILIATE.
      A
      Participant who is employed by an Affiliate as of the date that the Affiliate
      ceases to be an Affiliate for purposes of this Plan due to a “change in the
      ownership or effective control” or “in the ownership of a substantial portion of
      the assets of” such Affiliate (as such terms are defined in Section 409A of the
      Code and the applicable Treasury Regulations thereunder) shall receive a
      distribution of his or her accounts thirty (30) business days following such
      date, regardless of any prior election made by the Participant to defer the
      receipt of benefits pursuant to Section 8.2. 

     

    8.2  PARTICIPATION
      ELECTIONS. 

     

    (a)  Initial
      Elections.
      Each
      Participant shall make an election to participate in the Plan on such form
      or
      forms and at such time as the Plan Administrator shall require. In the election,
      the Participant shall select the amount or rate of Deferral Contributions to
      be
      made for the following Plan Year and, effective for Plan Years commencing on
      or
      after January 1, 1998, shall characterize the Deferral Contributions as either
      Regular or Special Purpose Deferral Contributions. If Special Purpose Deferral
      Contributions are being made, the Participant also shall select a Distribution
      Date or Distribution Dates for such Contributions. If Regular Deferral
      Contributions are being made, the Participant shall select the manner in which
      distributions are to be made from the Participant’s Accounts and whether
      distributions are to commence following the Participant’s termination of
      employment or whether they are to be postponed until the later of termination
      of
      employment or a specified date. If the Participant elects to make any type
      of
      Deferral Contributions, the Participant shall authorize the reduction of the
      Participant’s Compensation in an amount equal to his Deferral Contributions. The
      election form or 

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    forms
      also may set forth such other information as the Plan Administrator shall
      require. If a Participant’s initial election form is executed and delivered
      within 30 days of the day on which the Participant first becomes eligible to
      participate in the Plan or any other account balance deferred compensation
      plan
      provided by the Corporation, the Participant’s Deferral Contributions may be
      determined with reference to Compensation earned on or after the first day
      of
      the first full payroll period next following receipt of the election form by
      the
      Plan Administrator or as of such other uniform date (not earlier than the first
      day of the next full payroll period) as may be designated by the Plan
      Administrator. If the Participant does not execute and deliver an initial
      election form within the initial 30 day period, the Participant’s Deferral
      Contributions may be determined with reference to Compensation earned on or
      after the first day of the first payroll period in any later Plan Year if the
      Participant executes and delivers the appropriate form or forms to the Plan
      Administrator at least 30 days (or such other period specified by the Plan
      Administrator pursuant to rules of uniform application) prior to the first
      day
      of such Plan Year. 

     

    (b)  Revised
      Elections.
      A
      Participant must file a new election form prior to the beginning of each Plan
      Year which shall set forth the amount or rate of his Deferral Contributions
      for
      the new Plan Year and also shall characterize the Deferral Contributions as
      either Regular or Special Purpose Deferral Contributions. If Special Purpose
      Deferral Contributions are being made, the new election form also shall set
      forth the Distribution Date or Distribution Dates for such Contributions. The
      new amount or rate of Deferral Contributions will only apply to Deferral
      Contributions made for the relevant Plan Year and the new form must be filed
      at
      least 30 days (or such other period specified by the Plan Administrator pursuant
      to rules of uniform application) before the first day of such Plan Year.
      Effective for Plan Years commencing on or after January 1, 1998, a Participant
      may change the method of distributions or postpone the commencement of
      distributions of Regular Deferral Contributions at any time by filing the
      appropriate form as prescribed by the Plan Administrator. The new election
      will
      be honored only if the appropriate form is filed at least one (1) year prior
      to
      the Participant’s termination of employment. A Participant may not change the
      Distribution Date for Special Purpose Deferral Contributions that are made
      prior
      to the date on which a new election form is effective. In a new election form,
      however, the Participant may designate a different or additional Distribution
      Date for Special Purpose Deferral Contributions to be made in the future,
      provided that the different or additional Distribution Date postpones the
      commencement of distributions to the Participant. Notwithstanding the foregoing,
      any such election pursuant to this Section 8.2(b) to postpone distributions
      shall not be effective unless the election (i) is made at least twelve (12)
      months prior to the original Distribution Date
      and
(ii)
      postpones the date on which benefits commence to be paid for not less than
      five
      (5) years.
      No
      election may accelerate any distributions under this Plan. 

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    8.3  METHOD
      OF PAYMENT.

     

    Any
      payments from a Participant’s Accounts shall be made either in a lump sum in
      cash, or in cash payments in substantially equal annual installments over a
      period certain not exceeding 10 years, such method of payment to be elected
      by
      the Participant in his initial election form or in any revised election form
      that has been in effect for the requisite period of time specified in Section
      8.2(b), provided that any revised election form changing the method of payment
      from lump sum to installment payments shall not be effective unless the election
      (i) is made at least twelve (12) months prior to the original Distribution
      Date
      and
(ii)
      postpones the date on which benefits commence to be paid for not less than
      five
      (5) years.
      If
      installment payments are made, the provisions of Sections 6.2 (Investment
      Earnings or Losses.) and 6.3 (Investment Direction.) shall continue to apply
      to
      the unpaid balance. Unless a Participant has affirmatively elected to receive
      payments in installments over a period of ten (10) years or less, the
      Participant’s Accounts shall be distributed in one lump sum. If a Participant is
      married at the time an election form or a revised election form is filed, an
      election to receive payments in other than a lump sum shall be ineffective
      unless the Participant’s spouse consents to such election on a form prescribed
      by or acceptable to the Plan Administrator for that purpose. Notwithstanding
      any
      provision of this Plan to the contrary, if the value of all benefits payable
      pursuant to this Plan to a Participant or any Beneficiary, upon the
      Participant’s termination of employment or death, amounts to the sum of $10,000
      or less, the Plan Administrator, regardless of any elections made by the
      Participant, shall direct the Trustee to pay the benefits in the form of a
      single lump sum distribution on the last business day of February in the Plan
      Year following such termination of employment or death, provided that, if the
      event giving rise to such payment is a termination of employment and the
      Participant is a “specified employee” within the meaning of Section 409A of
      Code, then the portion of the amount to be distributed that has accrued and
      vested after December 31, 2004 shall instead be made on the later of (i) the
      date specified in the immediately preceding sentence and (ii) the first business
      day after the six-month anniversary of the Participant’s termination date.

     

    8.4  BENEFICIARY
      DESIGNATIONS.

     

    In
      the
      event of the death of the Participant, the Participant’s vested interest in his
      Accounts shall be paid to the Participant’s Beneficiary. Each Participant shall
      have the right to designate, on forms supplied by and delivered to the Plan
      Administrator, a Beneficiary or Beneficiaries to receive his benefits hereunder
      in the event of the Participant’s death. If the Participant is married at the
      time the Beneficiary Designation is filed, the designation will be ineffective
      unless the designation names the spouse as the Beneficiary of at least 50%
      of
      the Participant’s Accounts or the Participant’s spouse consents to the
      designation. If a Participant marries after a Beneficiary Designation is filed,
      the designation will no longer be effective. Subject to the spousal consent
      requirements noted above, each Participant may change his Beneficiary
      designation from time to time in the manner described above. Upon receipt of
      such designation by the Plan Administrator, such designation or change of
      designation shall become effective as 

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    of
      the
      date of the notice, whether or not the Participant is living at the time the
      notice is received. There shall be no liability on the part of the Employer,
      the
      Plan Administrator or the Trustee with respect to any payment authorized by
      the
      Plan Administrator in accordance with the most recent valid Beneficiary
      designation of the Participant in its possession before receipt of a more recent
      and valid Beneficiary Designation. If no designated Beneficiary is living when
      benefits become payable, or if there is no validly designated Beneficiary,
      the
      Beneficiary shall be the Participant’s estate. If the designated Beneficiary
      dies after the payment of benefits begin, then the Beneficiary for the remainder
      of the benefits payable shall be the estate of the Beneficiary.

     

    8.5  LIMITATION
      ON DISTRIBUTIONS.

     

    Distributions
      made under this Article shall be subject to the same limitations set forth
      in
      Section 5.4 (Limitation on Distributions.) of the Plan.

     

    ARTICLE
      IX

     

    ADMINISTRATION
      OF THE PLAN

     

    9.1  ADOPTION
      OF TRUST.

     

    The
      Company shall enter into a Trust Agreement with the Trustee, which Trust
      Agreement shall form a part of this Plan and is hereby incorporated herein
      by
      reference.

     

    9.2  POWERS
      OF THE PLAN ADMINISTRATOR.

     

    (a)  GENERAL
      POWERS OF PLAN ADMINISTRATOR.
      The Plan
      Administrator shall have the power and discretion to perform the administrative
      duties described in this Plan or required for proper administration of the
      Plan
      and shall have all powers necessary to enable it to properly carry out such
      duties. Without limiting the generality of the foregoing, the Plan Administrator
      shall have the power and discretion to construe and interpret this Plan, to
      hear
      and resolve claims relating to the Plan and to decide all questions and disputes
      arising under the Plan. The Plan Administrator shall determine, in its sole
      discretion, the service credited to the Participants, the status and rights
      of a
      Participant, and the identity of the Beneficiary or Beneficiaries entitled
      to
      receive any benefits payable on account of the death of a
      Participant.

     

    (b)  PARTICIPATION.
      The Plan
      Administrator also shall have the discretion to exclude employees from
      participation in the Plan and to discontinue a Participant’s participation in
      the Plan.

     

    (c)  DISTRIBUTIONS.
      All
      benefit disbursements by the Trustee shall be made upon the instructions of
      the
      Plan Administrator.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    (d)  DECISIONS
      CONCLUSIVE.
      The
      decisions of the Plan Administrator upon all matters within the scope of its
      authority shall be binding and conclusive upon all persons.

     

    (e)  REPORTING.
      The Plan
      Administrator shall file all reports and forms lawfully required to be filed
      by
      the Plan Administrator and shall distribute any forms, reports or statements
      to
      be distributed to Participants and others.

     

    (f)  INVESTMENTS.
      The Plan
      Administrator shall keep itself advised with respect to the investment of the
      Trust Fund.

     

    (g)  ELECTRONIC
      AMINISTRATION.
      The Plan
      Administrator shall have the authority to employ alternative means (including,
      but not limited to, electronic, internet, intranet, voice response, or
      telephonic) by which Participants may submit election, directions, and forms
      required for participation in, and administration of this Plan. If the Plan
      Administrator chooses to use these alternative means, any elections, directions
      or forms submitted in accordance with the rules and procedures promulgated
      by
      the Plan Administrator will be deemed to satisfy any provision of this Plan
      calling for the submission of a written document, direction or
      form.

     

    9.3  CREATION
      OF COMMITTEE.

     

    The
      Benefits Administration Committee shall be the Plan Administrator unless
      otherwise designated by the Company. The Benefits Administration Committee
      shall
      carry out its duties, responsibilities, and powers under the Plan in accordance
      with its charter, by-laws, or other rules of governance adopted by the Benefits
      Administration Committee and by which it carries out its duties,
      responsibilities, and powers with respect to administering the other employee
      benefit plans sponsored by the Company and for which it has been designated
      the
      plan administrator.

     

    9.4  APPOINTMENT
      OF AGENTS.

     

    The
      committee may appoint such other agents, who need not be members of the
      committee, as it may deem necessary for the effective performance of its duties,
      whether ministerial or discretionary, as the committee may deem expedient or
      appropriate. The compensation of any agents who are not employees of the Company
      shall be fixed by the committee within any limitations set by the Board of
      Directors.

     

    9.5  CONFLICT
      OF INTEREST.

     

    No
      member
      of the committee who is a Participant shall take any part in any action in
      connection with his participation as an individual. Such action shall be voted
      or decided by the remaining members of the committee.

     

    9.6  ACTION
      TAKEN BY COMPANY.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    Any
      action to be taken by the Company shall be taken by resolution adopted by the
      Board of Directors; provided, however, that by resolution the Board of Directors
      may delegate to any committee of the Board, any committee of officers or other
      employees, or any officer of the Company the authority to take any actions
      hereunder.

     

    9.7  DELEGATIONS
      OF AUTHORITY.

     

    All
      delegations of responsibility set forth in this document regarding the
      determination of benefits and the interpretation of the terms of the Plan confer
      discretionary authority upon the Plan Administrator; provided, however, that
      the
      Plan Administrator shall not retain any such discretionary authority after
      a
      Change of Control occurs.

     

    9.8  INDEMNIFICATION.

     

    To
      the
      extent permitted by law, the Company shall and does hereby jointly and severally
      indemnify and agree to hold harmless the employees, officers and directors
      of it
      and its Affiliates who serve in fiduciary or other capacities with respect
      to
      the Plan from any and all loss, damage, or liability, joint or several,
      including payment of expenses in connection with defense against any such claim,
      for their acts, omissions and conduct, and for the acts, omissions or conduct
      of
      their duly appointed agents, which acts, omissions or conduct constitute or
      are
      alleged to constitute a breach of such individual’s fiduciary or other
      responsibilities under the Act or any other law, except for those acts,
      omissions, or conduct resulting from his own willful misconduct, willful failure
      to act, or gross negligence; provided, however, that if any party would
      otherwise be entitled to indemnification hereunder in respect of any liability
      and such party shall be insured against loss as a result of such liability
      by
      any insurance contract or contracts, such party shall be entitled to
      indemnification hereunder only to the extent by which the amount of such
      liability shall exceed the amount thereof payable under such insurance contract
      or contracts.

     

    ARTICLE
      X 

     

    CLAIMS
      REVIEW PROCEDURE 

     

    10.1  APPLICATION
      FOR BENEFITS NOT REQUIRED.

     

    A
      Participant, or a Beneficiary (all of whom are referred to in this Article
      as a
“Claimant”) need not file a written claim to receive benefits.

     

    10.2  CLAIMS
      PROCEDURES.

     

    (a)  REVIEW
      BY MANAGER, EXECUTIVE COMPENSATION.
      If a
      Claimant is dissatisfied with the determination of his benefits, eligibility,
      participation, or any other right or interest under this Plan, the Claimant
      may
      file a written request for review with the Company’s “Compensation Manager.” The
“Compensation Manager” is 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    the
      Company’s Manager, Executive Compensation or the Company representative
      occupying a comparable position if the Company does not then have a
      representative with the title “Manager, Executive Compensation.” The
      Compensation Manager will notify the Claimant of the disposition of the claim
      within 90 days after the request for review is filed with the Compensation
      Manager, Executive Compensation. The Compensation Manager may have an additional
      period of up to 90 days to decide the claim if the Compensation Manager
      determines that special circumstances require an extension of time to decide
      the
      claim and the Compensation Manager advises the Claimant in writing of the need
      for an extension (including an explanation of the special circumstances
      requiring the extension) and the date on which the Compensation Manager expects
      to decide the claim. If, following the review, the claim is denied, in whole
      or
      in part, the notice of disposition shall set forth:

     

    (1)  The
      specific reason(s) for denial of the claim;

     

    (2)  Reference
      to the specific Plan provisions upon which the determination is
      based;

     

    (3)  A
      description of any additional material or information necessary for the Claimant
      to perfect the claim and an explanation of why such material or information
      is
      necessary;

     

    (4)  An
      explanation of the Plan’s appeal procedures, including the applicable time
      limits; and

     

    (5)  A
      specific statement that an appeal to the Claim Appeals Subcommittee is
      available.

     

    (b)  APPEAL
      BY CLAIMS APPEAL SUBCOMMITTEE.

     

    (1)  Appeal.
      Within
      60 days after receiving the written notice of the Compensation Manager’s
      disposition of the claim, the Claimant, or the Claimant’s authorized
      representative, may request in writing that the Claim Appeals Subcommittee
      appointed by the Plan Administrator review the denied claim. The Claimant may
      submit a written statement of his claim (including any written comments,
      documents, records and other information relating to the claim) and the reasons
      for granting the claim. The Claim Appeals Subcommittee shall have the right
      to
      request of and receive from a Claimant such additional information, documents
      or
      other evidence as the Claim Appeals Subcommittee may reasonably require. The
      review by the Claim Appeals Subcommittee will take into account all comments,
      documents, records and other information submitted by the Claimant relating
      to
      the claim, without regard to whether such documents, records or other
      information was submitted or considered in the initial benefit determination
      or
      the review by the Compensation Manager. If the Claimant does not request a
      review of the denied claim within sixty (60) days after receiving written notice
      of the Compensation Manager’s disposition of the claim, the Claimant shall be
      deemed to have 

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    accepted
      the Compensation Manager’s written disposition and the Compensation Manager’s
      written disposition will be final and binding on the Claimant and anyone
      claiming benefits through the Claimant, unless the Claimant shall have been
      physically or mentally incapacitated so as to be unable to request review within
      the 60 day period.

     

    (2)  Decision
      of the Claim Appeals Subcommittee.
      A
      decision on appeal to the Claim Appeals Subcommittee shall be rendered in
      writing by the Claim Appeals Subcommittee ordinarily not later than 60 days
      after the Claimant requests review of a denied claim. A written copy of such
      decision shall be delivered to the Claimant. If special circumstances require
      an
      extension of the ordinary period, the Claim Appeals Subcommittee shall so notify
      the Claimant of the extension with such notice containing an explanation of
      the
      special circumstances requiring the extension and the date by which the Claim
      Appeals Subcommittee expects to render a decision. Any such extension shall
      not
      extend beyond 60 days after the ordinary period. If the appeal to the Claim
      Appeals Subcommittee is denied, in whole or in part, the notice of decision
      referred to in the first sentence of this paragraph (2) shall set forth all
      of
      the information referred to in clauses (1) through (4) of the last sentence
      of
      paragraph (a). The notice of decision also will include a statement that the
      Claimant is entitled to receive, upon request and free of charge, reasonable
      access to, and copies of, all documents, records, and other information relevant
      to the Claimant’s claim for benefits. The notice of decision also will include
      an explanation of the Plan’s appeal procedure, including a specific statement
      that an appeal to the Plan Administrator is available.

     

    (c)  APPEAL
      TO PLAN ADMINISTRATOR.

     

    (1)  Appeal.
      Within
      60 days after receiving the written notice of the Claim Appeals Subcommittee’s
      disposition of the claim, the Claimant, or the Claimant’s authorized
      representative, may request in writing that the Plan Administrator review the
      denied appeal. The Claimant may submit a written statement of his claim
      (including any written comments, documents, records and other information
      relating to the claim) and the reasons for granting the claim. The Plan
      Administrator shall have the right to request of and receive from the Claimant
      such additional information, documents or other evidence as the Plan
      Administrator may reasonably require. If the Claimant does not request a review
      of the denied appeal within 60 days after receiving written notice of the Claim
      Appeals Subcommittee’s disposition of the appeal, the Claimant shall be deemed
      to have accepted the Claim Appeals Subcommittee’s written disposition of the
      appeal and the Claim Appeals Subcommittee’s written disposition will be final
      and binding on the Claimant and anyone claiming benefits through the Claimant,
      unless the Claimant shall have been physically or mentally incapacitated so
      as
      to be unable to request review within the 60 day period. As with an appeal
      to
      the Claim Appeals Subcommittee, the review shall take into account all comments,
      documents, records and other information submitted by the Claimant relating
      to
      the claim, without regard to whether such documents, records or other
      information were submitted or considered in the initial benefit determination
      or
      by the Manager, Executive Compensation or the Claim Appeals
      Subcommittee.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    (2)  Decision
      of the Plan Administrator.
      A
      decision on appeal to the Plan Administrator shall be rendered in writing by
      the
      Plan Administrator ordinarily not later than 60 days after the Claimant requests
      review. A written copy of the decision shall be delivered to the Claimant.
      If
      special circumstances require an extension of the ordinary period, the Plan
      Administrator shall so notify the Claimant of the extension with such notice
      containing an explanation of the special circumstances requiring the extension
      and the date by which the Plan Administrator expects to render a decision.
      Any
      such extension shall not extend beyond 60 days after the ordinary period. If
      the
      appeal to the Plan Administrator is denied, in whole or in part, the notice
      of
      decision referred to in the first sentence of this paragraph (2) shall set
      forth:

     

    (A)  The
      specific reason(s) for denial of the claim;

     

     

    (B)  Reference
      to the specific Plan provisions upon which the denial is based;

     

     

    (C)  A
      statement that the Claimant is entitled to receive, upon request and free of
      charge, reasonable access to, and copies of, all documents, records, and other
      information relevant to the Claimant’s claim for benefits; and

     

     

    (D)  A
      statement of the Claimant’s right to bring a civil action under Section 502(a)
      of the Act.

     

    (d)  RIGHT
      TO EXAMINE PLAN DOCUMENTS AND TO SUBMIT MATERIALS.
      In
      connection with the determination of a claim, or in connection with review
      of a
      denied claim or appeal pursuant to this Section 10.2, the Claimant may examine
      this Plan and any other pertinent documents generally available to Participants
      relating to the claim and may submit written comments, documents, records and
      other information relating to the claim for benefits. The Claimant also will
      be
      provided, upon request and free of charge, reasonable access to, and copies
      of,
      all documents, records, and other information relevant to the claimant’s claim
      for benefits with such relevance to be determined in accordance with Section
      10.2(e).

     

    (e)  RELEVANCE.
      For
      purpose of this Section 10.2, documents, records, or other information shall
      be
      considered “relevant” to a Claimant’s claim for benefits if such documents,
      records or other information:

     

    (1)  Were
      relied upon in making the benefit determination;

     

    (2)  Were
      submitted, considered, or generated in the course of making the benefit
      determination, without regard to whether such documents, records or other
      information were relied upon in making the benefit determination;
      or

     

    (3)  Demonstrate
      compliance with the administrative processes and safeguards required pursuant
      to
      this Section 10.2 regarding the making of the benefit
      determination.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    (f)  DECISIONS
      FINAL; PROCEDURES MANDATORY.
      To the
      extent permitted by law, a decision on review by the Manager, Executive
      Compensation, Claim Appeals Subcommittee, or the Plan Administrator shall be
      binding and conclusive upon all persons whomsoever. To the extent permitted
      by
      law, completion of the claims procedures described in this Section 10.2 shall
      be
      a mandatory precondition that must be complied with prior to commencement of
      a
      legal or equitable action in connection with the Plan by a person claiming
      rights under the Plan or by another person claiming rights through such a
      person. The Plan Administrator may, in its sole discretion, waive these
      procedures as a mandatory precondition to such an action.

     

    (g)  TIME
      FOR FILING LEGAL OR EQUITABLE ACTION.
      Any
      legal or equitable action filed in connection with this Plan by a person
      claiming rights under this Plan or by another person claiming rights through
      such a person must be commenced not later than the earlier of: (1) the shortest
      applicable statute of limitations provided by law; or (2) two years from the
      date the Plan Administrator’s decision on appeal is delivered to the Claimant in
      accordance with Section 10.2(c)(2).

     

    ARTICLE
      XI 

     

    LIMITATION
      ON ASSIGNMENT; PAYMENTS TO LEGALLY

    INCOMPETENT
      DISTRIBUTEE; CORRECTIONS

     

    11.1  ANTI-ALIENATION
      CLAUSE.

     

    No
      benefit which shall be payable under the Plan to any person shall be subject
      in
      any manner to anticipation, alienation, sale, transfer, assignment, pledge,
      encumbrance or charge, and any attempt to anticipate, alienate, sell, transfer,
      assign, pledge, encumber, charge or otherwise dispose of the same shall be
      void.
      No benefit shall in any manner be subject to the debts, contracts, liabilities,
      engagements or torts of any person, nor shall it be subject to attachment or
      legal process for or against any person, except to the extent as may be required
      by law.

     

    11.2  PERMITTED
      ARRANGEMENTS.

     

    Section
      11.1 shall not preclude arrangements for the withholding of taxes from benefit
      payments, arrangements for the recovery of benefit overpayments, arrangements
      for direct deposit of benefit payments to an account in a bank, savings and
      loan
      association or credit union (provided that such arrangement is not part of
      an
      arrangement constituting an assignment or alienation), or the transfer, incident
      to divorce, of a Participant’s interests in the Plan to a former
      spouse.

     

    11.3  PAYMENT
      TO MINOR OR INCOMPETENT.

     

    Whenever
      any benefit which shall be payable under the Plan is to be paid to or for the
      benefit of any person who is then a minor or determined by the Plan
      Administrator to be incompetent by qualified medical advice, the Plan
      Administrator need not require the 

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

    appointment
      of a guardian or custodian, but shall be authorized to cause the same to be
      paid
      over to the person having custody of the minor or incompetent, or to cause
      the
      same to be paid to the minor or incompetent without the intervention of a
      guardian or custodian, or to cause the same to be paid to a legal guardian
      or
      custodian of the minor or incompetent if one has been appointed or to cause
      the
      same to be used for the benefit of the minor or incompetent.

     

    11.4  UNDERPAYMENT
      OR OVERPAYMENT OF BENEFITS.

     

    In
      the
      event that, through mistake or computational error, benefits are underpaid
      or
      overpaid, there shall be no liability for any more than the correct amount
      of
      benefits under the Plan. Overpayments may be deducted from future payments
      under
      the Plan, and underpayment may be added to future payments under the Plan.
      In
      lieu of receiving reduced benefits under the Plan, a Participant or Beneficiary
      may elect to make a lump sum repayment of any overpayment.

     

    ARTICLE
      XII 

     

    AMENDMENT,
      MERGER AND TERMINATION 

     

    12.1  AMENDMENT.

     

    The
      Company shall have the right at any time, by an instrument in writing duly
      executed, acknowledged and delivered to the Plan Administrator, to modify,
      alter
      or amend this Plan, in whole or in part, prospectively or retroactively;
      provided, however, that the duties and liabilities of the Plan Administrator
      and
      the Trustee hereunder shall not be substantially increased without their written
      consent, as the case may be; and provided further that the amendment shall
      not
      reduce any Participant’s interest in the Plan, calculated as of the date on
      which the amendment is adopted. The agreements referred to in Section 13.3(a)
      (Cancellation or Reduction of Accounts. — General.) and the offsets referred to
      in Section 13.3(b) (Cancellation or Reduction of Accounts. — Offset for
      Discretionary Contributions to Savings Plan.) shall not be deemed to violate
      the
      last clause of the preceding sentence. Notwithstanding the foregoing, no such
      amendment shall cause amounts to be paid in violation of Section 409A of the
      Code. 

     

    12.2  MERGER
      OR CONSOLIDATION OF COMPANY.

     

    The
      Plan
      shall not be terminated automatically by the Company’s acquisition by or merger
      into any other employer, but the Plan shall be continued after such acquisition
      or merger if the successor employer elects and agrees to continue the Plan.
      All
      rights to amend, modify, suspend, or terminate the Plan shall be transferred
      to
      the successor employer, effective as of the date of the merger. If an Employer
      other than the Company is acquired by or merged into any organization other
      than
      an Affiliate, the Plan shall be terminated as to the acquired Employer unless
      the Company and the acquiror agree otherwise in writing.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    12.3  TERMINATION OF PLAN OR DISCONTINUANCE OF
      CONTRIBUTIONS.

     

    It
      is the
      expectation of the Company and each of the Employers that this Plan and the
      payment of contributions hereunder will be continued indefinitely. However,
      continuance of the Plan is not assumed as a contractual obligation of the
      Company or any other Employer, and the right is reserved at any time to
      terminate this Plan or to reduce, temporarily suspend or discontinue
      contributions hereunder. If the Plan is terminated or contributions are reduced,
      temporarily suspended, or discontinued with respect to all Employers or any
      one
      or more Employers, the Accounts of the affected Participants will continue
      to be
      held pursuant to the Plan until the date or dates on which such Accounts would
      have become distributable had the Plan not been terminated or had contributions
      not been reduced, temporarily suspended, or discontinued. In the exercise of
      its
      discretion, however, the Plan Administrator may direct that the Accounts of
      any
      Participant affected by the termination of the Plan as to all Employers or
      a
      particular Employer, or the reduction, temporary suspension, or discontinuance
      of contributions, be distributed as of an earlier date or dates.

     

    ARTICLE
      XIII 

     

    GENERAL
      PROVISIONS

     

    13.1  LIMITATION
      ON PARTICIPANTS’ RIGHTS.

     

    Participation
      in the Plan shall not give any Participant the right to be retained in the
      employ of the Company or any Affiliate or any right or interest in the Trust
      Fund other than as herein provided. The Company and each Affiliate reserves
      the
      right to dismiss any Participant without any liability for any claim either
      against the Trust Fund, except to the extent herein provided, or against the
      Company, or Affiliate.

     

    13.2  STATUS
      OF PARTICIPANTS AS UNSECURED CREDITORS.

     

    Each
      Participant is an unsecured creditor of the Company or the Affiliate that
      employs the Participant and, except for the Deferral Contributions and the
      Profit Sharing Contributions or Matching Contributions placed in the Trust
      Fund
      as provided in this Plan, no assets of the Company or any Affiliate will be
      segregated from the general assets of the Company or any Affiliate for the
      payment of benefits under this Plan. If the Company or any Affiliate acquires
      any insurance policies or other investments to assist it in meeting its
      obligations to Participants, those policies or other investments will
      nonetheless remain part of the general assets of the Company or
      Affiliate.

     

    13.3  EXCEPTION
      TO CONTRIBUTION RULE.

     

    Neither
      the Company nor any other Employer shall have any obligation to transfer
      Deferral Contributions made by the Participants, Matching or Profit Sharing
      Contributions due from the Company or such Employer, or any other amounts to
      the

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    Trust
      Fund, if and so long as the assets of the Trust Fund exceed the aggregate
      Account Balances of all Participants. The provisions of this Section 13.4
      supersede the provisions of Sections 4.1 (Participant Contributions.), 4.2
      (Matching Contributions), 4.3 (Profit Sharing Contributions), or any other
      provision of this Plan that purports to require the Company or any other
      Employer to transfer amounts to the Trust Fund.

     

    13.4  STATUS
      OF TRUST FUND.

     

    The
      Trust
      Fund is being established to assist the Company and the adopting Affiliates
      in
      meeting their obligations to the Participants and to provide the Participants
      with a measure of protection in certain limited instances. In certain
      circumstances described in the Trust Agreement, the assets of the Trust Fund
      may
      be used for the benefit of the Company’s or an Affiliate’s creditors and, as a
      result, the Trust Fund is considered to be part of the Company’s and adopting
      Affiliate’s general assets. Benefit payments due under this Plan shall either be
      paid from the Trust Fund or from the Company’s or Affiliate’s general assets as
      directed by the Plan Administrator. Despite the establishment of the Trust
      Fund,
      it is intended that the Plan be considered to be “unfunded” for purposes of the
      Act and the Code.

     

    13.5  FUNDING
      UPON A CHANGE OF CONTROL.

     

    Prior
      to
      the day on which a Change of Control occurs, if for any reason the assets of
      the
      Trust Fund are less than the aggregate Account Balances of all Participants,
      the
      Company shall transfer an amount equal to the deficiency to the Trustee of
      the
      Trust. If it is discovered at any time that the amount initially transferred
      is
      less than the total amount called for by the preceding sentence, the shortfall
      shall be transferred to the Trustee immediately upon the discovery of such
      error.

     

    13.6  UNIFORM
      ADMINISTRATION.

     

    Whenever
      in the administration of the Plan any action is required by the Plan
      Administrator, such action shall be uniform in nature as applied to all persons
      similarly situated.

     

    13.7  HEIRS
      AND SUCCESSORS.

     

    All
      of
      the provisions of this Plan shall be binding upon all persons who shall be
      entitled to any benefits hereunder, and their heirs and legal
      representatives.

     

    13.8  NO
      LIABILITY FOR ACCELERATION OF PAYMENTS.

     

    Under
      the
      Plan, Participants are allowed, to a certain extent, to designate the dates
      on
      which distributions are to be made to them. The Plan Administrator, however,
      also has the right, in the exercise of its discretion, to accelerate payments
      with respect to benefits that accrued and vested on or before December 31,
      2004.
      By accepting the benefits offered by the Plan, each Participant (and each
      Beneficiary claiming through a 

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

     

    Participant)
      acknowledges that the Plan Administrator may override the Participant’s
      elections and agrees that neither the Participant nor any Beneficiary shall
      have
      any claim against the Plan Administrator, the Trustee, or any Employer if
      distributions are made earlier than anticipated by the Participant due to the
      Plan Administrator’s exercise of its discretion to accelerate payments with
      respect to benefits that accrued and vested on or before December 31, 2004.
      Notwithstanding the foregoing, the Plan Administrator shall not accelerate
      any
      payment if such acceleration would result in a violation of Section 409A of
      the
      Code. 

     

    13.9  SECTION
      409A.

     

    The
      Corporation and the Participants acknowledge and agree that the provisions
      of
      this Agreement are intended to comply with Section 409A of the Code and the
      regulations and guidance of the Department of the Treasury interpreting and
      implementing Section 409A. 

     

     

    To
      signify its adoption of this Plan document, the Company has caused this Plan
      document to be executed by a duly authorized officer of the Company on this
      16th
      day of March, 2007.

     

     

    PHELPS
      DODGE CORPORATION

     

     

    By
      _/s/
      Nancy F. Mailhot___________

     

    Its
      _Senior Vice President - Human Resources___

     

     

    
      
        
        

      

      
        27Exhibit 10.79

    
      

    

    Exhibit
      10.79

    
FIRST
      AMENDMENT 

    TO
      THE

    PHELPS
      DODGE CORPORATION

    SUPPLEMENTAL
      SAVINGS PLAN

    

    

      Effective
      as of January 1, 1997, Phelps Dodge Corporation (the “Company”) adopted the
      Phelps Dodge Corporation Supplemental Savings Plan (the “Plan”) as an amendment
      and restatement of the supplemental savings provisions of the Comprehensive
      Executive Non-qualified Retirement and Savings Plan of Phelps Dodge Corporation.
      The Plan was most recently amended and restated generally effective January
      1,
      2005. The Plan is being amended by this First Amendment to provide for the
      establishment of an Investment Committee, to identify the members of the
      Investment Committee, and to reflect an investment trade control policy
      implemented by the Plan’s recordkeeper. 

     

    1.  The
      provisions of this First Amendment shall be effective as of the dates noted
      below.

     

    2.  This
      First Amendment shall amend only those Sections set forth herein and those
      Sections not amended hereby shall remain in full force and effect.

     

    3.  
      Effective May 17, 2005, Section 2.1 (DEFINITIONS)
      of the
      Plan is amended by adding a new Section (q)-1 to provide as
      follows:

      (q)-1
       Investment
      Committee
      means
      the committee established pursuant to Section 9.3A to designate and monitor
      the
      investment vehicles available under this Plan.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.  Effective
      May 17, 2005, Section 2.1(r) (DEFINITIONS
      -
Investment
      Fund)
      of the
      Plan is amended and restated in its entirety to provide as follows:

       (r) “Investment
      Fund”
means
      the investment fund or funds established by the Investment Committee pursuant
      to
      Section 6.3 (INVESTMENT DIRECTION).

    

    5.  Effective
      May 17, 2005, Section 6.3(a) (INVESTMENT DIRECTION
      -
INVESTMENT
      FUNDS)
      of the
      Plan is amended by changing all references to “Plan Administrator” therein to
“Investment Committee.” 

     

    6.  Effective
      October 16, 2006, Section 6.3(b)(1) (INVESTMENT
      DIRECTION
      -
PARTICIPANT
      DIRECTIONS
      -
GENERAL
      RULE)
      of the
      Plan is amended and restated in its entirety to provide as follows:

      (1)
      GENERAL.
      Upon
      becoming a Participant in the Plan, each Participant may direct that all of
      the
      amounts attributable to his Account be invested in a single Investment Fund
      or
      may direct fractional (percentage) increments of his Account to be invested
      in
      such Fund or Funds as he shall desire, in accordance with such procedures,
      if
      any, as may be established by the Plan Administrator. Except as otherwise
      provided in this Section 6.3(b)(1), as of each Valuation Date, a Participant
      may
      change his designations of future contributions or existing Account among
      Investment Funds by making an election in accordance with such procedures as
      may
      be established by the Plan Administrator. The designation will continue until
      changed in accordance with such procedures. 

    

    Notwithstanding
      the foregoing, if a Participant has elected to transfer all or part of his
      existing Account out of certain Investment Funds which have been deemed to
      be
      subject to Rule 22c-2 of the U.S. Securities and Exchange Commission and/or
      any
      trade control or similar policy that might be adopted by the Plan’s recordkeeper
      (such as may apply to any mutual funds or other similar form of investments
      within the Plan’s Investment Funds), the Participant 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    shall
      not
      be permitted to transfer any part of his Account back into such Investment
      Fund
      or Funds until after thirty (30) calendar days have passed from the date of
      the
      initial transfer, or such other time as may be required from time to time in
      order for the Plan to comply with Rule 22c-2 or any trade control or similar
      policy implemented by the Plan’s recordkeeper in furtherance of Rule
      22c-2.

    

    7.  Effective
      May 17, 2005, Section 6.3(e) (INVESTMENT
      DIRECTION
      -
COMPANY
      STOCK FUND)
      of the
      Plan is amended and restated in its entirety to provide as follows:

        (e)
       COMPANY
      STOCK FUND.
      The
      Investment Committee in the exercise of its discretion may direct that one
      or
      more of the Investment Funds consist, primarily or exclusively, of Company
      securities. If such a Fund or Funds is established, a Participant’s ability to
      direct investments into or out of such Fund shall be subject to such procedures
      as the Plan Administrator or the Investment Committee may prescribe from time
      to
      time to assure compliance with Rules 16b-3 promulgated under Section 16(b)
      of
      the Securities Exchange Act of 1934, as amended, the Sarbanes-Oxley Act of
      2002,
      and any other applicable requirements. Such procedures also may limit or
      restrict a Participant’s ability to make (or modify previously made) elections
      pursuant to Section 8.2 (Participation Elections).

    

    8.  Effective
      May 17, 2005, Article IX (ADMINISTRATION
      OF THE PLAN)
      of the
      Plan is amended by adding new Sections 9.3A, 9.3B and 9.3C, to provide as
      follows:

     

    9.3A
       CREATION
      OF INVESTMENT COMMITTEE.

    The
      Investment Committee shall be the Named Fiduciary with respect to investment
      oversight and shall be responsible solely for the specific duties assigned
      to it
      in Article VI and in other sections of this Plan. Unless the context clearly
      requires otherwise, any reference to the “Committee” or “committee” shall be
      deemed to be a reference to the Benefits Administration Committee and not the
      Investment Committee.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    9.3B
       APPOINTMENT
      AND MEMBERSHIP OF THE INVESTMENT COMMITTEE.

    

    Effective
      May 17, 2005, the Investment Committee will consist of individuals holding
      the
      following positions with the Company: Assistant Treasurer; Director, Internal
      Audit; Director, Health & Welfare Benefits; Director, Retirement Plans; Vice
      President, Global Supply Chain and Information Services; and Vice President,
      Morenci, PDMC.

    

      The
      Assistant Treasurer shall serve as the chair of the Investment Committee and
      the
      Investment Committee members shall appoint a secretary. Membership of the
      Investment Committee shall automatically change as the individuals holding
      the
      designated positions change. As individuals are added to or removed from the
      Investment Committee due to changes in position, they may be asked to sign
      an
      acceptance of their fiduciary responsibilities under the Plan or a resignation
      from their fiduciary responsibilities under the Plan, but the appointments
      and
      resignations will be effective automatically without the execution of such
      documents. 

     

    9.3C
       POWERS
      OF
      THE INVESTMENT COMMITTEE.

     

      The
      Investment Committee shall have full and exclusive responsibility and authority
      for the performance of the functions assigned to in Article VI, including
      particularly, but not limited to, the establishment of an investment policy
      and
      the selection and monitoring of Investment Funds, including the Phelps Dodge
      Common Stock Fund. The Investment Committee shall not have any responsibility
      for the performance of the duties and responsibilities assigned to the Benefits
      Administration Committee. Similarly, the Benefits Administration Committee
      shall
      not have any responsibility for the duties and responsibilities assigned to
      the
      Investment Committee.

     

      The
      Investment Committee shall adopt policies, procedures and other administrative
      rules as it deems advisable for purposes of administration of matters within
      its
      scope of responsibility. Any and all policies, procedures, or other
      administrative rules, whether written or oral, previously adopted by the
      Benefits Administration Committee for purposes of the administration of a
      provision of this Article IX that is now the responsibility of the Investment
      Committee shall continue in full force and effect unless and until modified
      by
      the Investment Committee.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    9.  Effective
      March 2, 2006, Section 9.3B (APPOINTMENT
      AND MEMBERSHIP OF THE INVESTMENT COMMITTEE)
      of the
      Plan is amended and restated in its entirety, to provide as
      follows:

     

    9.3B
       APPOINTMENT
      AND MEMBERSHIP OF THE INVESTMENT COMMITTEE.

    

    Effective
      March 2, 2006, the Investment Committee will consist of individuals holding
      the
      following positions with the Company: Assistant Treasurer; Director, Internal
      Audit; Director, Global Benefits; Director, Global HR Compliance; Vice
      President, Global Supply Chain and Information Services; and Vice President,
      Southeastern Arizona, PDMC.

    

      The
      Assistant Treasurer shall serve as the chair of the Investment Committee and
      the
      Investment Committee members shall appoint a secretary. Membership of the
      Investment Committee shall automatically change as the individuals holding
      the
      designated positions change. As individuals are added to or removed from the
      Investment Committee due to changes in position, they may be asked to sign
      an
      acceptance of their fiduciary responsibilities under the Plan or a resignation
      from their fiduciary responsibilities under the Plan, but the appointments
      and
      resignations will be effective automatically without the execution of such
      documents. 

     

    10.  Any
      inconsistent provisions of the Plan shall be read consistent with this First
      Amendment.

      IN
      WITNESS WHEREOF, the undersigned has executed this First Amendment as of
      the 16th
      day of
      March, 2007.

          

     

    PHELPS
      DODGE CORPORATION 

    

    

    By_/s/
      Nancy F. Mailhot____________       

    Nancy
      F.
      Mailhot

                                                                                   
      Senior
      Vice President, Human Resources

     

    
      
        
        

      

      
        5

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