Document:

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                                             Amended effective December 14, 2001

                                      1986
                               ABBOTT LABORATORIES
                            MANAGEMENT INCENTIVE PLAN

                                    SECTION 1
                                  INTRODUCTION

     1.1 BACKGROUND AND PURPOSES. This 1986 ABBOTT LABORATORIES MANAGEMENT
INCENTIVE PLAN (the "Plan") is a successor Plan to the 1961, 1971 and 1981
Management Incentive Plans (the "Predecessor Plans"). This Plan is being
established by ABBOTT LABORATORIES ("Abbott") for the following purposes:

     (a)  To provide greater incentive for participants in the Plan to attain
          and maintain the highest standards of managerial performance by
          rewarding them for services rendered with compensation, in addition
          to their base salaries, in proportion to the success of Abbott and to
          the participants' respective contribution to such success; and

     (b)  To attract and retain in the employ of Abbott and its subsidiaries
          persons of outstanding competence.

     1.2  EFFECTIVE DATE AND FISCAL YEAR. The Plan shall be effective as of
January 1, 1986. The term "fiscal year," as used in this Plan, means the fiscal
period from time to time employed by Abbott for the purpose of reporting
earnings to shareholders.

     1.3  ADMINISTRATION. The Plan will be administered by the Compensation
Committee (the "Committee") appointed by the Board of Directors of Abbott.

                                    SECTION 2
                         ELIGIBILITY AND PARTICIPATION

     2.1  PERSONS ELIGIBLE FOR PARTICIPATION. Participation in the Plan will be
limited to those Officers and managerial employees of Abbott and its
subsidiaries who, from time to time, shall be selected as participants by the
Committee.

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     2.2  PARTICIPANTS. The term "participant," as used in the Plan, shall
include both active participants and inactive participants.

     2.3  ACTIVE PARTICIPANTS. For each fiscal year, there shall be a group of
active participants which, except as provided below, shall not exceed forty-five
persons and shall consist of those persons eligible for participation who shall
have been designated as active participants and notified of that fact by the
Committee at any time before or during the fiscal year. If, as a result of the
growth of Abbott and its subsidiaries or changes in Abbott's organization, the
Board of Directors deems it appropriate, the Board of Directors may, in its
discretion, from time to time, increase the number of persons who may be
designated as active participants for any fiscal year beyond the limit of
forty-five persons provided for above. Selection as an active participant for
any fiscal year shall not confer upon any person a right to be an active
participant in any subsequent fiscal year, nor shall it confer upon him the
right to receive any allocation under the Plan, other than amounts allocated to
him by the Committee pursuant to the Plan, and all such allocations shall be
subject to all of the terms and conditions of the Plan.

     2.4  INACTIVE PARTICIPANTS. Inactive participants shall consist of those
persons, including beneficiaries of deceased participants, if any, for whom an
allocation shall have been made for a prior fiscal year under this Plan or a
Predecessor Plan, the payment of which was deferred and remains unpaid. Status
as an inactive participant shall not preclude a person from also being an active
participant during any fiscal year.

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                                    SECTION 3
                         MANAGEMENT INCENTIVE PLAN FUND

     3.1  BASE FOR MANAGEMENT INCENTIVE PLAN FUND. The "base earnings" for
determining whether any portion of consolidated net income for any fiscal year
may be allocated to the Management Incentive Plan Fund for such year shall be
that amount of consolidated net income (as defined in subsection 3.2) which is
equal to 15 percent of the Abbott Common Shareholder's Equity for such fiscal
year. For this purpose, "Abbott Common Shareholders' Equity" for any fiscal year
shall mean the Shareholders' Investment, as reflected in the consolidated
balance sheet of Abbott as of the close of the next preceding fiscal year, plus
or minus such adjustments thereof as may be determined by the Committee in order
to reflect:

     (a)  The existence, issuance, sale, exchange, conversion or retirement of
          any securities, other than common shares, of Abbott (whether involving
          preferred stock, debt, convertible preferred stock or convertible debt
          securities); and

     (b)  The issuance or retirement of any common shares or any changes in
          accounting methods or period adopted by Abbott since the close of such
          next preceding fiscal year.

Any adjustments to be made in accordance with (a) and (b) above in determining
Abbott Common Shareholders' Equity for any fiscal year shall be determined by
the Committee after consultation with Abbott's independent auditors, and any
determination made by the Committee after such consultation shall be conclusive
upon all persons.

     3.2  CONSOLIDATED NET INCOME. For the purposes of this Plan, for any fiscal
year or period, the "consolidated net income" shall be the consolidated net
income of Abbott and its subsidiaries, prepared in accordance with generally
accepted accounting principles, consistently applied, after provision for any
interest accrued with respect to such period on account of deferred payments
under this Plan or a Predecessor Plan, but before allowances for any amount to
be allocated to the Management Incentive Plan Fund, both net of applicable
income taxes, and

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after such adjustments for the following, as may be determined by the Committee
after consultation with Abbott's independent auditors (all net of applicable
income taxes):

     (a)  The exclusion of any charges for amortization or goodwill arising out
          of acquisitions made for securities which, as a result of adjustments
          made in determining Abbott Common Shareholders' Equity pursuant to
          subsection 3.1, are treated as common share equivalents; and

     (b)  The exclusion of any interest on debt securities which are
          convertible into common shares of Abbott and which shall have been
          considered as common share equivalents in determining Abbott Common
          Shareholders' Equity pursuant to subsection 3.1 hereof; and

     (c)  The deduction of any dividend requirement for preferred shares which
          has not been considered as common share equivalents in determining
          Common Shareholders' Equity pursuant to subsection 3.1 hereof.

In the sole discretion of the Committee there shall also be excluded in the
calculation of "consolidated net income" unusual gains and losses and the tax
effects thereof, changes in generally accepted accounting principles and the tax
effects thereof and extraordinary gains and losses.

     3.3  DETERMINATION OF MANAGEMENT INCENTIVE PLAN AMOUNT FOR ANY YEAR. For
each fiscal year that consolidated net income exceeds base earnings, and as soon
as practicable after ascertainment of that fact, the Committee shall determine a
tentative amount as the Management Incentive Plan Amount for that year, which
tentative amount shall not exceed the lesser of:

     (a)  an amount which, when treated as an expense currently deductible for
          income tax purposes in such year, would cause a 5 percent reduction in
          such year's excess of consolidated net income over the base earnings
          for such year; and

     (b)  an amount which, when treated as an expense currently deductible for
          income tax purposes in such year, would cause a 1-1/2 percent
          reduction in such year's consolidated net income; and

     (c)  an amount which equals 200 percent of the aggregate base salaries of
          all active participants for such year.

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For purposes of the Plan "base salary" means the amount of salary paid to each
active participant by Abbott and its subsidiaries for such year plus the
includible portion (as described below) of any "Eligible Restricted Stock
Award," as defined in Section 5-2 of the Abbott Laboratories Supplemental
Pension Plan and does not include bonuses, other awards or any other
compensation of any kind. The includible portion of a participant's Eligible
Restricted Stock Award shall be the portion of the participant's Eligible
Restricted Stock Award that is included in the participant's final earnings
under the Abbott Laboratories Supplemental Pension Plan for such year. Following
determination of such tentative Management Incentive Plan Amount, the Committee
shall report in writing the amount of such tentative amount to the Board of
Directors. At the meeting of the Board of Directors coincident with or next
following receipt by it of the Committee's determination, the Board of Directors
shall have the power to approve or reduce, but not to increase, the tentative
amount reported to it by the Committee. The amount approved by the Board of
Directors shall be the Management Incentive Plan Amount for such year.

     3.4  THE MANAGEMENT INCENTIVE PLAN FUND. The Management Incentive Plan Fund
at any time shall consist of an amount equal to the aggregate of the Management
Incentive Plan Amounts established pursuant to subsection 3.3 of this Plan for
all fiscal years during which this Plan shall have been operative, plus the
amounts established as Management Incentive Plan Amounts for any prior fiscal
year pursuant to a Predecessor Plan, reduced by an amount equal to the aggregate
of the amounts of awards which shall have been allocated to participants in
accordance with this Plan or a Predecessor Plan, and awards, or any other
compensation of any kind. Following determination of such tentative Management
Incentive Plan Amount, the Committee shall report in writing the amount of such
tentative amount to the Board of Directors. At the meeting of the Board of
Directors coincident with or next following receipt by it of the

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Committee's determination, the Board of Directors shall have the power to
approve or reduce, but not to increase, the tentative amount reported to it by
the Committee. The amount approved by the Board of Directors shall be the
Management Incentive Plan Amount for such year.

                                    SECTION 4
                     ALLOCATION OF MANAGEMENT INCENTIVE FUND

     4.1  ANNUAL ALLOCATION OF MANAGEMENT INCENTIVE FUND. As soon as practicable
after the close of each fiscal year, part or all of the amount then in the
Management Incentive Plan Fund (including the Management Incentive Plan Amount
for such fiscal year) will be allocated by the Committee among active
participants in the Plan for such fiscal year, having due regard for the
purposes for which the Plan was established, in the following manner and order:

     (a)  First, if the Chairman of the Board of Abbott shall be an active
          participant for such year, the members of the Committee, other than
          the Chairman of the Board, shall determine the amount, if any, to be
          allocated to the Chairman of the Board from such Fund for such year;
          and

     (b)  Next, all or a part of the balance of such Fund may be allocated among
          the active participants (other than the Chairman of the Board) for
          such year, in such amounts and proportions as the Committee shall
          determine

provided, however, that the amount allocated to any active participant for any
year shall not exceed 200 percent of such participant's base salary for that
year.

     4.2  COMMITTEE'S DISCRETION IN ALLOCATIONS. In making any allocations in
accordance with subsection 4.1 for any year, the discretion of the Committee
shall be absolute, and no active participants for any year, by reason of their
designation as such, shall be entitled to any particular amounts or any amount
whatsoever.

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                                    SECTION 5
                  PAYMENT OF AMOUNTS ALLOCATED TO PARTICIPANTS

     5.1  TIME OF PAYMENT. For fiscal years beginning after December 31, 1988, a
participant shall direct the payment or deferral of an allocation made to him
pursuant to subsection 4.1 (subject to such conditions relating to the right of
the participant to receive Payment of such amount as established by the
Committee) by one or more of the following methods:

     (a)  current payment in cash to the participant;

     (b)  current payment of a portion of the allocation in cash for the
          participant directly to a "Grantor Trust" established by the
          participant, provided such trust is in a form which the Committee
          determines is substantially similar to the trust attached to this Plan
          as Exhibit A; and current payment of the balance of the allocation in
          cash directly to the participant, provided that the payment made
          directly to the participant shall approximate the aggregate federal,
          state and local individual income taxes (determined in accordance with
          subsection 6.7) attributable to the allocation paid pursuant to this
          paragraph (b); or

     (c)  deferral of payment until such time and in such manner as determined
          in accordance with subsection 5.11.

A participant shall make the preceding direction within 30 days of the date he
is notified of his eligibility to participate in the Plan. A participant may
change such direction with respect to any future allocation, provided that the
change is made prior to the beginning of the fiscal year to which such
allocation relates. Payment of a participant's allocation for the 1988 fiscal
year and of any allocations deferred under the Plan prior to such year shall be
made in accordance with the provisions of either or both of paragraphs (a) and
(b) above. The Committee shall establish and maintain a Trust Account in
accordance with subsection 5.2 and for purposes of subsection 5.4, shall treat
such payment as if it were an allocation made for that fiscal year.

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     5.2  SEPARATE ACCOUNTS. The Committee will maintain two separate Accounts,
a "Deferred Account" and a "Trust Account," in the name of each participant. The
Deferred Account shall be comprised of any allocations the payment of which is
deferred pursuant to subsection 5.1(c) and any adjustments made pursuant to
subsection 5.3. The Trust Account shall be comprised of any allocations paid in
cash to a participant (including amounts paid to a participant's Grantor Trust)
pursuant to subsection 5.1(b) and any adjustments made pursuant to subsection
5.4.

     5.3  ADJUSTMENT OF DEFERRED ACCOUNTS. As of the end of each fiscal year,
the Committee shall adjust each participant's Deferred Account as follows:

     (a)  FIRST, charge an amount equal to any payments made to the participant
          during that year pursuant to subsections 5.11 or 5.12;

     (b)  NEXT, credit an amount equal to the allocation for that year that is
          deferred pursuant to subsection 5.1(c); and

     (c)  FINALLY, credit an amount equal to the Interest Accrual earned for
          that year pursuant to subsection 5.5.

     5.4  ADJUSTMENT OF TRUST ACCOUNTS. As of the end of each fiscal year, the
Committee shall adjust each participant's Trust Account as follows:

     (a)  FIRST, charge an amount equal to the product of (i) any payments made
          to the participant during that year from the participant's Grantor
          Trust (other than distributions of trust earnings in excess of the Net
          Interest Accrual authorized by the administrator of the trust to
          provide for the Tax Gross Up under subsection 6.6); multiplied by (ii)
          a fraction, the numerator of which is the balance in the participant's
          Trust Account as of the end of the prior fiscal year and the
          denominator of which is the balance of the participant's Grantor Trust
          (as determined by the administrator of the trust) as of that same
          date;

     (b)  NEXT, credit an amount equal to the allocation for that year that is
          paid to the Participant (including the amount paid to the
          participant's Grantor Trust) pursuant to subsection 5.l(b); and

     (c)  FINALLY, credit an amount equal to the Interest Accrual earned for
          that Year pursuant to subsection 5.5.

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     5.5  INTEREST ACCRUALS ON ACCOUNTS. As of the end of each fiscal year, a
participant's Deferred Account and Trust Account shall be credited with interest
equal to: (a) the average of the prime rates of interest charged by the two
largest banks located in the City of Chicago on loans made by them as of January
1 and the end of each month of the fiscal year; plus (b) two hundred twenty-five
(225) basis points. Such interest shall be credited on the conditions
established by the Committee, provided that any allocation of an award from the
Management Incentive Plan Fund shall be considered to have been made and
credited to a participant's Deferred Account and Trust Account as of the first
day of the fiscal year in which such award is made regardless of the date upon
which the Committee actually makes the determination to award such allocation.

     5.6  GUARANTEED RATE PAYMENTS. In addition to any allocation made to a
participant for any fiscal year pursuant to subsection 4.1 which is paid or
deferred pursuant to subsection 5.1, Abbott shall also make a payment to a
participant's Grantor Trust (a "Guaranteed Rate Payment") for any year in which
the net earnings of such trust do not equal or exceed the participant's Net
Interest Accrual for that year. A participant's "Net Interest Accrual" for a
year is an amount equal to: (a) the Interest Accrual credited to the
participant's Trust Account for that year; less (b) the product of (i) the
amount of such Interest Accrual, multiplied by (ii) the aggregate of the
federal, state and local individual income tax rates (determined in accordance
with subsection 6.7). The Guaranteed Rate Payment shall equal the difference
between the participant's Net Interest Accrual and the net earnings of the
participant's Grantor Trust for the year, and shall be paid within 90 days of
the end of the fiscal year.

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     5.7  DESIGNATION OF BENEFICIARIES. Subject to the conditions and
limitations set forth below, each participant, and after a participant's death,
each primary beneficiary designated by a participant in accordance with the
provisions of this subsection 5.7, shall have the right from time to time to
designate a primary beneficiary or beneficiaries and, successive or contingent
beneficiary or beneficiaries to receive unpaid amounts from the participant's
Deferred Account under the Plan and the Predecessor Plans. Beneficiaries may be
a natural person or persons or a fiduciary, such as a trustee of a trust or the
legal representative of an estate. Any such designation shall take effect upon
the death of the participant or such beneficiary, as the case may be, or in the
case of any fiduciary beneficiary, upon the termination of all of its duties
(other than the duty to dispose of the right to receive amounts remaining to be
paid under the Plan or a Predecessor Plan). The conditions and limitations
relating to the designation of beneficiaries are as follows:

     (a)  A nonfiduciary beneficiary shall have the right to designate a further
          beneficiary or beneficiaries only if the original participant or the
          next preceding primary beneficiary, as the case may be, shall have
          expressly so provided in writing; and

     (b)  A fiduciary beneficiary shall designate as a further beneficiary or
          beneficiaries only those persons or other fiduciaries who are entitled
          to receive the amounts payable from the participant's account under
          the trust or estate of which it is a fiduciary.

Any beneficiary designation or grant of any power to any beneficiary under this
subsection may be exercised only by an instrument in writing, executed by the
person making the designation or granting such power and filed with the
Secretary of Abbott during such person's lifetime or prior to the termination of
a fiduciary's duties. If a deceased participant or a deceased nonfiduciary
beneficiary who had the right to designate a beneficiary as provided above dies
without having

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                                      -11-

designated a further beneficiary, or if no beneficiary designated as provided
above is living or qualified and acting, the Committee, in its discretion, may
direct distribution of the amount remaining from time to time to either:

     (i)  any one or more or all of the next of kin (including the surviving
          spouse) of the participant or the deceased beneficiary, as the case
          may be, and in such proportions as the Committee determines; or

     (ii) the legal representative of the estate of the deceased participant or
          deceased beneficiary as the case may be.

     5.8  STATUS OF BENEFICIARIES. Following a participant's death, the
participant's beneficiary or beneficiaries will be considered and treated as an
inactive participant for all purposes of this Plan.

     5.9  NON-ASSIGNABILITY AND FACILITY OF PAYMENT. Amounts payable to
participants and their beneficiaries under the Plan are not in any way subject
to their debts and other obligations, and may not be voluntarily or
involuntarily sold, transferred or assigned; provided that the preceding
provisions of this section shall not be construed as restricting in any way a
designation right granted to a beneficiary pursuant to the terms of subsection
5.7. When a participant or the beneficiary of a participant is under legal
disability, or in the Committee's opinion is in any way incapacitated so as to
be unable to manage his or her financial affairs, the Committee may direct that
payments shall be made to the participant's or beneficiary's legal
representative, or to a relative or friend of the participant or beneficiary for
the benefit of the participant or beneficiary, or the Committee may direct the
payment or distribution for the benefit of the participant or beneficiary in any
manner that the Committee determines.

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     5.10 PAYER OF AMOUNTS ALLOCATED TO PARTICIPANTS. Any amount allocated to a
participant in the Plan and any interest credited thereto will be paid by the
employer (or such employer's successor) by whom the participant was employed
during the fiscal year for which any amount was allocated, and for that purpose,
if a participant shall have been employed by two or more employers during any
fiscal year the amount allocated under this Plan for that year shall be an
obligation of each of the respective employers in proportion to the respective
amounts of base salary paid by each of them in that fiscal year.

     5.11 MANNER OF PAYMENT. Subject to subsections 5.12, a participant shall
elect the timing and manner of payment of his Deferred Account at the time of
his deferral election under subsection 5.l. The participant may select a payment
method from among alternative payment methods established by the Committee.

     5.12 PAYMENT UPON TERMINATION FOLLOWING CHANGE IN CONTROL. Notwithstanding
any other provisions of this Plan or the Predecessor Plans, or the provisions of
any award made under this Plan or the Predecessor Plans, if employment of any
participant with Abbott and its subsidiaries should terminate for any reason
within five (5) years after the date of a Change in Control, the aggregate
unpaid balance of all awards previously made to such participant under this Plan
and all Predecessor Plans, plus any unpaid interest credited thereon, shall be
paid to the participant in a lump sum within thirty (30) days following the date
of such termination.

     5.13 CHANGE IN CONTROL. A "Change in Control" shall be deemed to have
occurred on the earliest of the following dates:

     (i)  The date any entity or person (including a "group" as defined in
          Section 13(d)(3) of the Securities Exchange Act of 1934 (the "Exchange
          Act")) shall have become the beneficial owner of, or shall have
          obtained voting control over thirty percent (30%) or more of the
          outstanding common shares of Abbott;

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     (ii)  The date the shareholders of Abbott approve a definitive agreement
           (A) to merge or consolidate Abbott with or into another corporation,
           in which Abbott is not the continuing or surviving corporation or
           pursuant to which any common shares of Abbott would be converted into
           cash, securities or other property of another corporation, other than
           a merger of Abbott in which holders of common shares immediately
           prior to the merger have the same proportionate ownership of common
           stock of the surviving corporation immediately after the merger as
           immediately before, or (B) to sell or otherwise dispose of
           substantially all the assets of Abbott; or

     (iii) The date there shall have been a change in a majority of the Board of
           Directors of Abbott within a twelve (12) month period unless the
           nomination for election by Abbott's shareholders of each new director
           was approved by the vote of two-thirds of the directors then still in
           office who were in office at the beginning of the twelve (12) month
           period.

     5.14 PROHIBITION AGAINST AMENDMENT. The provisions of subsections 5.12,
5.13 and this subsection 5.14 may not be amended or deleted, nor superseded by
any other provision of this Plan, during the period beginning on the date of a
Change in Control and ending on the date five (5) years following such Change in
Control.

                                    SECTION 6
                                  MISCELLANEOUS

     6.1 RULES. The Committee may establish such rules and regulations as it may
consider necessary or desirable for the effective and efficient administration
of the Plan.

     6.2 MANNER OF ACTION BY COMMITTEE. A majority of the members of the
Committee qualified to act on any particular question may act by meeting or by
writing signed without meeting, and may execute any instrument or document
required or delegate to one of its members authority to sign. The Committee from
time to time may delegate the performance of certain ministerial functions in
connection with the Plan, such as the keeping of records, to such person or
persons as the Committee may select. Except as otherwise expressly provided in
the Plan, the

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costs of administration of the Plan will be paid by Abbott. Any notice
required to be given to, or any document required to be filed with the
Committee, will be properly given or filed if mailed or delivered in writing to
the Secretary of Abbott.

     6.3 RELIANCE UPON ADVICE. The Board of Directors and the Committee may
rely upon any information or advice furnished to it by any Officer of Abbott
or by Abbott's independent auditors, or other consultants, and shall be fully
protected in relying upon such information or advice. No member of the Board
of Directors or the Committee shall be liable for any act or failure to act
on their part, excepting only any acts done or omitted to be done in bad
faith, nor shall they be liable for any act or failure to act of any other
member.

     6.4 TAXES. Any employer shall be entitled, if necessary or desirable, to
pay, or withhold the amount of any federal, state or local tax, attributable to
any amounts payable by it under the Plan after giving the person entitled to
receive such amount notice as far in advance as practicable, and may defer
making payment of any amount with respect to which any such tax question may be
pending unless and until indemnified to its satisfaction.

     6.5 RIGHTS OF PARTICIPANTS. Employment rights of participants with Abbott
and its subsidiaries shall not be enlarged or affected by reason of
establishment of or inclusion as a participant in the Plan. Nothing contained in
the Plan shall require Abbott or any subsidiary to segregate or earmark any
assets, funds or property for the purpose of payment of any amounts which may
have been deferred. The Deferred and Trust Accounts established pursuant to
subsection 5.2 are for the convenience of the administration of the Plan and no
trust relationship with respect to such Accounts is intended or should be
implied. Participant's rights shall be limited to payment to them at the time or
times and in such amounts as are contemplated by the

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Plan. Any decision made by the Board of Directors or the Committee, which is
within the sole and uncontrolled discretion of either, shall be conclusive and
binding upon the other and upon all other persons whomsoever.

     6.6 TAX GROSS UP. In addition to the allocations provided under subsection
4.1, each participant (or, if the participant is deceased, the beneficiary
designated under the participant's Grantor Trust) shall be entitled to a Tax
Gross Up payment for each year there is a balance in his or her Trust Account.
The "Tax Gross Up" shall approximate: (a) the amount necessary to compensate the
participant (or beneficiary) for the net increase in the participant's (or
beneficiary's) federal, state and local income taxes as a result of the
inclusion in his or her taxable income of the income of the participant's
Grantor Trust and any Guaranteed Rate Payment for that year; less (b) any
distribution to the participant (or beneficiary) of his or her Grantor Trust's
net earnings for that year; plus (c) an amount necessary to compensate the
participant (or beneficiary) for the net increase in the taxes described in (a)
above as a result of the inclusion in his or her taxable income of any payment
made pursuant to this subsection 6.6. Payment of the Tax Gross Up shall be made
by the employers (in such proportions as Abbott shall designate) directly from
their general corporate assets.

     6.7 INCOME TAX ASSUMPTIONS. For purposes of Sections 5 and 6, a
participant's federal income tax rate shall be deemed to be the highest marginal
rate of federal income individual tax in effect in the calendar year in which a
calculation under those Sections is to be made, and state and local tax rates
shall be deemed to be the highest marginal rates of individual income tax in
effect in the state and locality of the participant's residence on the date such
a calculation is made, net of any federal tax benefits.

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     6.8 PAYMENT OF PRIOR DEFERRALS. Notwithstanding any other provision of this
Plan, the Committee, in its absolute discretion, may direct that all or a
portion of the balance in a participant's Deferred Account be paid in accordance
with the provisions of subsection 5.1(b). In such event, the Committee shall
establish and maintain a Trust Account in accordance with subsection 5.2 and,
for purposes of subsection 5.4, shall treat such payment as if it were an
allocation made for that fiscal year.

                                    SECTION 7
                      AMENDMENT, TERMINATION AND CHANGE OF
                         CONDITIONS RELATING TO PAYMENTS

     7.1 AMENDMENT AND TERMINATION. The Plan will be effective from its
effective date until terminated by the Board of Directors. During the fifth year
after the Plan's effective date and during every fifth year thereafter, the
Committee may recommend to the Board of Directors whether the Plan should be
amended or terminated. The Board of Directors reserves the right to amend the
Plan from time to time and to terminate the Plan at any time, except that no
such amendment or any termination of the Plan shall reduce any fixed or
contingent obligations which shall have arisen under the Plan prior to the date
of such amendment or termination, or change the terms and conditions of payment
of any allocation theretofore made without the consent of the participant
concerned.

     7.2 CHANGE OF CONDITIONS RELATING TO PAYMENTS. Following the establishment
by the Committee of any conditions relating to the payment of any amount
allocated to a participant for any fiscal year and any interest credited thereon
(including the time of payment or the time of commencement of payment and any
period over which payment shall be made), neither the Committee nor the
participant concerned, acting unilaterally, shall have the power to change the
conditions originally established by the Committee. However, in order to
effectuate the purposes

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                                      -17-

of the Plan, any conditions initially established by the Committee may be
changed thereafter by mutual agreement of the Committee and the participant
concerned.

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                                    Exhibit A

                       IRREVOCABLE GRANTOR TRUST AGREEMENT

     THIS AGREEMENT, made this _____ day of ____________, 1991, by and between
_______________________ of ___________, Illinois (the "grantor"), and The
Northern Trust Company located at Chicago, Illinois, as trustee (the "trustee"),

                                WITNESSETH THAT:

     WHEREAS, the grantor desires to establish and maintain a trust to hold
certain benefits received by the grantor under the 1986 Abbott Laboratories
Management Incentive Plan, as it may be amended from time to time;

     NOW, THEREFORE, IT IS AGREED as follows:

                                    ARTICLE I
                                  INTRODUCTION

     I-1. NAME. This agreement and the trust hereby evidenced (the "trust") may
be referred to as the "______________ 1991 Grantor Trust".

     I-2. THE TRUST FUND. The "trust fund" as at any date means all property
then held by the trustee under this agreement.

     I-3. STATUS OF THE TRUST. The trust shall be irrevocable. The trust is
intended to constitute a grantor trust under Sections 671-678 of the Internal
Revenue Code, as amended, and shall be construed accordingly.

     I-4. THE ADMINISTRATOR. Abbott Laboratories ("Abbott") shall act as the
"administrator" of the trust, and as such shall have certain powers, rights and
duties under this agreement as described below. Abbott will certify to the
trustee from time to time the person or persons authorized to act on behalf of
Abbott as the administrator. The trustee may rely on the latest certificate
received without further inquiry or verification.

     I-5. ACCEPTANCE. The trustee accepts the duties and obligations of the
"trustee" hereunder, agrees to accept funds delivered to it by the grantor or
the administrator, and agrees to hold such funds (and any proceeds from the
investment of such funds) in trust in accordance with this agreement.

<Page>

                                       -2-

                                   ARTICLE II
                         DISTRIBUTION OF THE TRUST FUND

     II-1. SEPARATE ACCOUNTS. The administrator shall maintain two separate
accounts under the trust, a "rollout account" and a "deferred account." Funds
delivered to the trustee shall be allocated between the accounts by the trustee
as directed by the administrator. As of the end of each calendar year, the
administrator shall charge each account with all distributions made from such
account during that year; and credit each account with its share of income and
realized gains and charge each account with its share of expenses and realized
losses for the year. The trustee shall not be required to make any separate
investment of the trust fund for the accounts, and may administer and invest all
funds delivered to it under the trust as one trust fund.

     II-2. DISTRIBUTIONS FROM THE ROLLOUT ACCOUNT PRIOR TO THE GRANTOR'S DEATH.
The trustee shall distribute principal and accumulated income credited to the
rollout account to the grantor, if then living, at such times and in such
amounts as the administrator shall direct.

     II-3. DISTRIBUTIONS FROM THE DEFERRED ACCOUNT PRIOR TO THE GRANTOR'S DEATH.
Principal and accumulated income credited to the deferred account shall not be
distributed from the trust prior to the grantor's retirement or other
termination of employment with Abbott or a subsidiary of Abbott (the grantor's
"settlement date"); provided that, each year the administrator may direct the
trustee to distribute to the grantor a portion of the income of the deferred
account for that year, with the balance of such income to be accumulated in that
account. The administrator shall inform the trustee of the grantor's settlement
date. Thereafter, the trustee shall distribute the amounts from time to time
credited to the deferred account to the grantor, if then living, in a series of
annual installments, with the amount of each installment computed by one of the
following methods:

     (a)  The amount of each installment shall be equal to the sum of: (i) the
          amount credited to the deferred account as of the end of the year in
          which the grantor's settlement date occurs, divided by the number of
          years over which installments are to be distributed; plus (ii) the net
          earnings credited to the deferred account for the preceding year
          (excluding the year in which the grantor's settlement date occurs).

     (b)  The amount of each installment shall be determined by dividing the
          amount credited to the deferred account as of the end of the preceding
          year by the difference between (i) the total number of years over
          which installments are to be distributed, and (ii) the number of
          annual installment distributions previously made from the deferred
          account.

     (c)  Each installment (after the first installment) shall be approximately
          equal, with the amount comprised of the sum of: (i) the amount of the
          first installment, plus interest thereon at the rate determined under
          the 1986 Abbott Laboratories Management Incentive Plan, compounded
          annually; and (ii) the net earnings credited to the deferred account
          for the preceding year.

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                                       -3-

Notwithstanding the foregoing, the final installment distribution made to the
grantor under this paragraph II-3 shall equal the total principal and
accumulated income then held in the trust fund. The grantor, by writing filed
with the trustee and the administrator on or before the end of the calendar year
in which the grantor's settlement date occurs (or the end of the calendar year
in which this trust is established, if the grantor's settlement date has already
occurred), may select both the period (which may not be less than ten years from
the end of the calendar year in which the grantor's settlement date occurred)
over which the installment distributions are to be made and the method of
computing the amount of each installment. In the absence of such a written
direction by the grantor, installment distributions shall be made over a period
of ten years, and the amount of each installment shall be computed by using the
method described in subparagraph (a) next above. Installment distributions under
this Paragraph II-3 shall be made as of January 1 of each year, beginning with
the calendar year following the year in which the grantor's settlement date
occurs. The administrator shall inform the trustee of the amount of each
installment distribution under this paragraph II-3, and the trustee shall be
fully protected in relying on such information received from the administrator.

     II-4. DISTRIBUTIONS FROM THE TRUST FUND AFTER THE GRANTOR'S DEATH. The
grantor, from time to time may name any person or persons (who may be named
contingently or successively and who may be natural persons or fiduciaries) to
whom the principal of the trust fund and all accrued or undistributed income
therefrom shall be distributed in a lump sum or, if the beneficiary is the
grantor's spouse (or a trust for which the grantor's spouse is the sole income
beneficiary), in installments, as directed by the grantor, upon the grantor's
death. If the grantor directs an installment method of distribution to the
spouse as beneficiary, any amounts remaining at the death of the spouse
beneficiary shall be distributed in a lump sum to the executor or administrator
of the spouse beneficiary's estate. If the grantor directs an installment method
of distribution to a trust for which the grantor's spouse is the sole income
beneficiary, any amounts remaining at the death of the spouse shall be
distributed in a lump sum to such trust. Despite the foregoing, if (i) the
beneficiary is a trust for which the grantor's spouse is the sole income
beneficiary, (ii) payments are being made pursuant to this paragraph II-4 other
than in a lump sum and (iii) income earned by the trust fund for the year
exceeds the amount of the annual installment payment, then such trust may elect
to withdraw such excess income by written notice to the trustee. Each
designation shall revoke all prior designations, shall be in writing and shall
be effective only when filed by the grantor with the administrator during the
grantor's lifetime. If the grantor fails to direct a method of distribution, the
distribution shall be made in a lump sum. If the grantor fails to designate a
beneficiary as provided above, then on the grantor's death, the trustee shall
distribute the balance of the trust fund in a lump sum to the executor or
administrator of the grantor's estate.

     II-5. FACILITY OF PAYMENT. When a person entitled to a distribution
hereunder is under legal disability, or, in the trustee's opinion, is in any way
incapacitated so as to be unable to manage his or her financial affairs, the
trustee may make such distribution to such person's legal representative, or to
a relative or friend of such person for such person's benefit. Any distribution
made in accordance with the preceding sentence shall be a full and complete
discharge of any liability for such distribution hereunder.

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                                       -4-

     II-6. PERPETUITIES. Notwithstanding any other provisions of this agreement,
on the day next preceding the end of 21 years after the death of the last to die
of the grantor and the grantor's descendants living on the date of this
instrument, the trustee shall immediately distribute any remaining balance in
the trust to the beneficiaries then entitled to distributions hereunder.

                                   ARTICLE III
                          MANAGEMENT OF THE TRUST FUND

     III-1. GENERAL POWERS. The trustee shall, with respect to the trust fund,
have the following powers, rights and duties in addition to those provided
elsewhere in this agreement or by law:

     (a)  Subject to the limitations of subparagraph (b) next below, to sell,
          contract to sell, purchase, grant or exercise options to purchase, and
          otherwise deal with all assets of the trust fund, in such way, for
          such considerations, and on such terms and conditions as the trustee
          decides.

     (b)  To retain in cash such amounts as the trustee considers advisable; and
          to invest and reinvest the balance of the trust fund, without
          distinction between principal and income, in obligations of the United
          States Government and its agencies or which are backed by the full
          faith and credit of the United States Government or in any mutual
          fund, common trust fund or collective investment fund which invests
          solely in such obligations; and any such investment made or retained
          by the trustee in good faith shall be proper despite any resulting
          risk or lack of diversification or marketability.

     (c)  To deposit cash in any depositary (including the banking department of
          the bank acting as trustee) without liability for interest, and to
          invest cash in savings accounts or time certificates of deposit
          bearing a reasonable rate of interest in any such depositary.

     (d)  To invest, subject to the limitations of subparagraph (b) above, in
          any common or commingled trust fund or funds maintained or
          administered by the trustee solely for the investment of trust funds.

     (e)  To borrow from anyone, with the administrator's approval, such sum or
          sums from time to time as the trustee considers desirable to carry out
          this trust, and to mortgage or pledge all or part of the trust fund as
          security.

     (f)  To retain any funds or property subject to any dispute without
          liability for interest and to decline to make payment or delivery
          thereof until final adjudication by a court of competent jurisdiction
          or until an appropriate release is obtained.

     (g)  To begin, maintain or defend any litigation necessary in connection
          with the administration of this trust, except that the trustee shall
          not be obliged or required to do so unless indemnified to the
          trustee's satisfaction.

<Page>

                                       -5-

     (h)  To compromise, contest, settle or abandon claims or demands.

     (i)  To give proxies to vote stocks and other voting securities, to join in
          or oppose (alone or jointly with others) voting trusts, mergers,
          consolidations, foreclosures, reorganizations, liquidations, or other
          changes in the financial structure of any corporation, and to exercise
          or sell stock subscription or conversion rights.

     (j)  To hold securities or other property in the name of a nominee, in a
          depositary or in any other way, with or without disclosing the trust
          relationship.

     (k)  To divide or distribute the trust fund in undivided interests or
          wholly or partly in kind.

     (l)  To pay any tax imposed on or with respect to the trust; to defer
          making payment of any such tax if it is indemnified to its
          satisfaction in the premises; and to require before making any payment
          such release or other document from any lawful taxing authority and
          such indemnity from the intended payee as the trustee consider
          necessary for its protection.

     (m)  To deal without restriction with the legal representative of the
          grantor's estate or the trustee or other legal representative of any
          trust created by the grantor or a trust or estate in which a
          beneficiary has an interest, even though the trustee, individually,
          shall be acting in such other capacity without liability for any loss
          that may result.

     (n)  To appoint or remove by written instrument any bank or corporation
          qualified to act as successor trustee, wherever located, as special
          trustee as to part or all of the trust fund, including property as to
          which the trustee does not act, and such special trustee, except as
          specifically limited or provided by this or the appointing instrument,
          shall have all of the rights, titles, powers, duties, discretions and
          immunities of the trustee, without liability for any action taken or
          omitted to be taken under this or the appointing instrument.

     (o)  To appoint or remove by written instrument any bank, wherever located,
          as custodian of part or all of the trust fund, and each such custodian
          shall have such rights, powers, duties and discretions as are
          delegated to it by the trustee.

     (p)  To employ agents, attorneys, accountants or other persons, and to
          delegate to them such powers as the trustee considers desirable, and
          the trustee shall be protected in acting or refraining from acting on
          th advice of persons so employed without court action.

     (q)  To perform any and all other acts which in the trustee's judgment are
          appropriate for the proper management, investment and distribution of
          the trust fund.

<Page>

                                       -6-

     III-2. PRINCIPAL AND INCOME. Any income earned on the trust fund which is
not distributed as provided in Article II shall be accumulated and from time to
time added to the principal of the trust. The grantor's interest in the trust
shall include all assets or other property held by the trustee hereunder,
including principal and accumulated income.

     III-3. STATEMENTS. The trustee shall prepare and deliver monthly to the
administrator and annually to the grantor, if then living, otherwise to each
beneficiary then entitled to distributions under this agreement, a statement (or
series of statements) setting forth (or which taken together set forth) all
investments, receipts, disbursements and other transactions effected by the
trustee during the reporting period; and showing the trust fund and the value
thereof at the end of such period.

     III-4. COMPENSATION AND EXPENSES. All reasonable costs, charges and
expenses incurred in the administration of this trust, including compensation to
the trustee, any compensation to agents, attorneys, accountants and other
persons employed by the trustee, and expenses incurred in connection with the
sale, investment and reinvestment of the trust fund shall be paid from the trust
fund.

                                   ARTICLE IV
                               GENERAL PROVISIONS

     IV-1. INTERESTS NOT TRANSFERABLE. The interests of the grantor or other
persons entitled to distributions hereunder are not subject to their debts or
other obligations and may not be voluntarily or involuntarily sold, transferred,
alienated, assigned or encumbered.

     IV-2. DISAGREEMENT AS TO ACTS. If there is a disagreement between the
trustee and anyone as to any act or transaction reported in any accounting, the
trustee shall have the right to a settlement of its account by any proper court.

     IV-3. TRUSTEE'S OBLIGATIONS. No power, duty or responsibility is imposed on
the trustee except as set forth in this agreement. The trustee is not obliged to
determine whether funds delivered to or distributions from the trust are proper
under the trust, or whether any tax is due or payable as a result of any such
delivery or distribution. The trustee shall be protected in making any
distribution from the trust as directed pursuant to Article II without inquiring
as to whether the distributee is entitled thereto; and the trustee shall not be
liable for any distribution made in good faith without written notice or
knowledge that the distribution is not proper under the terms of this agreement.

     IV-4. GOOD FAITH ACTIONS. The trustee's exercise or non-exercise of its
powers and discretions in good faith shall be conclusive on all persons. No one
shall be obliged to see to the application of any money paid or property
delivered to the trustee. The certificate of the trustee that it is acting
according to this agreement will fully protect all persons dealing with the
trustee.

     IV-5. WAIVER OF NOTICE. Any notice required under this agreement may be
waived by the person entitled to such notice.

<Page>

                                       -7-

     IV-6. CONTROLLING LAW. The laws of the State of Illinois shall govern the
interpretation and validity of the provisions of this agreement and all
questions relating to the management, administration, investment and
distribution of the trust hereby created.

     IV-7. SUCCESSORS. This agreement shall be binding on all persons entitled
to distributions hereunder and their respective heirs and legal representatives,
and on the trustee and its successors.

                                  ARTICLE V
                             CHANGES IN TRUSTEE

     V-1. RESIGNATION OR REMOVAL OF TRUSTEE. The trustee may resign at any time
by giving thirty days' advance written notice to the administrator and the
grantor. The administrator may remove a trustee by written notice to the trustee
and the grantor.

     V-2. APPOINTMENT OF SUCCESSOR TRUSTEE. The administrator shall fill any
vacancy in the office of trustee as soon as practicable by written notice to the
successor trustee; and shall give prompt written notice thereof to the grantor,
if then living, otherwise to each beneficiary then entitled to payments or
distributions under this agreement. A successor trustee shall be a bank (as
defined in Section 581 of the Internal Revenue Code, as amended).

     V-3. DUTIES OF RESIGNING OR REMOVED TRUSTEE AND OF SUCCESSOR TRUSTEE. A
trustee that resigns or is removed shall furnish promptly to the administrator
and the successor trustee an account of its administration of the trust from the
date of its last account. Each successor trustee shall succeed to the title to
the trust fund vested in its predecessor without the signing or filing of any
instrument, but each predecessor trustee shall execute all documents and do all
acts necessary to vest such title of record in the successor trustee. Each
successor trustee shall have all the powers conferred by this agreement as if
originally named trustee. No successor trustee shall be personally liable for
any act or failure to act of a predecessor trustee. With the approval of the
administrator, a successor trustee may accept the account furnished and the
property delivered by a predecessor trustee without incurring any liability for
so doing, and such acceptance will be complete discharge to the predecessor
trustee.

                                   ARTICLE VI
                            AMENDMENT AND TERMINATION

     VI-1. AMENDMENT. With the consent of the administrator, this trust may be
amended from time to time by the grantor, if then living, otherwise by a
majority of the beneficiaries then entitled to payments or distributions
hereunder, except as follows:

     (a)  The duties and liabilities of the trustee cannot be changed
          substantially without its consent.

     (b)  This trust may not be amended so as to make the trust revocable.

<Page>

                                       -8-

     VI-2. TERMINATION. This trust shall not terminate, and all rights, titles,
powers, duties, discretions and immunities imposed on or reserved to the
trustee, the administrator, the grantor and the beneficiaries shall continue in
effect, until all assets of the trust have been distributed by the trustee as
provided in Article II.

                                 *      *      *

     IN WITNESS WHEREOF, the grantor and the trustee have executed this
agreement as of the day and year first above written.

                              -------------------------------------
                              Grantor

                              The Northern Trust Company as Trustee

                              By
                                -----------------------------------

                              Its
                                 ----------------------------------<Page>

                                             Amended effective December 14, 2001

              ABBOTT LABORATORIES NON-EMPLOYEE DIRECTORS' FEE PLAN

                                    SECTION 1
                                     PURPOSE

     ABBOTT LABORATORIES NON-EMPLOYEE DIRECTORS' FEE PLAN - referred to below as
the "Plan" - has been established by ABBOTT LABORATORIES - referred to below as
the "Company" - to attract and retain as members of its Board of Directors
persons who are not full-time employees of the Company or any of its
subsidiaries but whose business experience and judgment are a valuable asset to
the Company and its subsidiaries.

                                    SECTION 2
                                DIRECTORS COVERED

     As used in the Plan, the term "Director" means any person who is elected to
the Board of Directors of the Company in April, 1962 or at any time thereafter,
and is not a full-time employee of the Company or any of its subsidiaries.

                                    SECTION 3
                            FEES PAYABLE TO DIRECTORS

     3.1 Each Director shall be entitled to a deferred monthly fee of Six
Thousand Six Hundred Sixty-Seven Dollars ($6,667.00) for each calendar month or
portion thereof (excluding the month in which he is first elected a Director)
that he holds such office with the Company.

     3.2 A Director who serves as Chairman of the Executive Committee of the
Board of Directors shall be entitled to a deferred monthly fee of One Thousand
Six Hundred Dollars ($1,600.00) for each calendar month or portion thereof
(excluding the month in which he is first elected to such position) that he
holds such position.

     3.3 A Director who serves as Chairman of the Audit Committee of the Board
of Directors shall be entitled to a deferred monthly fee of Six Hundred
Sixty-Seven Dollars ($667.00) for each calendar month or portion thereof
(excluding the month in which he is first elected to such position) that he
holds such position.

     3.4 A Director who serves as Chairman of the Compensation Committee of the
Board of Directors shall be entitled to a deferred monthly fee of Six Hundred
Sixty-Seven Dollars ($667.00) for each calendar month or portion thereof
(excluding the month in which he is first elected to such position) that he
holds such position.

     3.5 A Director who serves as Chairman of the Nominations Committee of the
Board of Directors shall be entitled to a deferred monthly fee of Six Hundred
Sixty-Seven Dollars ($667.00) for each calendar month or portion thereof
(excluding the month in which he is first elected to such position) that he
holds such position.

<Page>

                                       -2-

     3.6 A Director who serves as Chairman of any other Committee created by
this Board of Directors shall be entitled to a deferred monthly fee of Six
Hundred Sixty-Seven Dollars ($667.00) for each calendar month or portion thereof
(excluding the month in which he is first elected to such position) that he
holds such position.

     3.7 A Director's Deferred Fee Account shall be credited with interest
annually. During the calendar years 1968 and prior, the rate of interest
credited to deferred fees shall be four (4) percent per annum. During the
calendar years 1969 through 1992, the rate of interest credited to deferred fees
shall be the average of the prime rates being charged by the two largest
commercial banks in the City of Chicago as of the end of the month coincident
with or last preceding the date upon which said interest is so credited.
During the calendar years 1993 and subsequent, the rate of interest credited
to deferred fees shall be equal to: (a) the average of the prime rates being
charged by the two largest commercial banks in the City of Chicago as of the
end of the month coincident with or last preceding the date upon which said
interest is so credited; plus (b) two hundred twenty-five (225) basis points.
For purposes of the provisions of the Plan, the term "deferred fees" shall
include "deferred monthly fees," and "deferred meeting fees," and shall also
include any such interest credited thereon.

                                    SECTION 4
                           PAYMENT OF DIRECTORS' FEES

     4.1 A Director's deferred fees earned pursuant to the Plan shall commence
to be paid on the first day of the calendar month next following the earlier of
his death or his attainment of age sixty-five (65) if he is not then serving as
a Director, or the termination of his service as a Director if he serves as a
Director after the attainment of age sixty-five (65); provided that any Director
may, by written notice filed with the Secretary of the Company, elect to receive
current payment of all or any portion of the monthly and meeting fees earned by
him in calendar years subsequent to the calendar year in which he files such
notice (or all or any portion of such fees earned by him in the calendar year he
first becomes a Director, if such notice is filed within 30 days of becoming a
Director), in which case such fees or the portion thereof so designated earned
in such calendar years shall not be deferred but shall be paid quarterly as
earned and no interest shall be credited thereon. Such election may be revoked
or modified by any Director by written notice to the Secretary of the Company as
to fees to be earned by him in calendar years subsequent to the calendar year in
which he files such notice.

     4.2 After a Director's deferred fees shall have commenced to be payable
pursuant to Paragraph 4.1 they shall be payable in annual installments in the
order in which they shall have been deferred (i.e. the deferred fees for the
earliest year of service as a Director will be paid on the date provided for in
Section 4.1, the deferred fees for the next earliest year of service as a
Director will be paid on the anniversary of the payment of the first
installment, etc.).

     4.3 A Director's deferred fees shall continue to be paid until all deferred
fees which he is entitled to receive under the Plan shall have been paid to him
(or, in case of his death, to his beneficiary).

<Page>

                                       -3-

     4.4 Notwithstanding any other provisions of the Plan, if a Director's
service as a Director should terminate for any reason within five (5) years
after the date of a Change in Control, the aggregate unpaid balance of such
Director's deferred fees plus all unpaid interest credited thereon, shall be
paid to such Director in a lump sum within thirty (30) days following the date
of such termination.

     4.5 A "Change in Control" shall be deemed to have occurred on the earliest
of the following dates:

     (i)   The date any entity or person (including a "group" as defined in
           Section 13(d)(3) of the Securities Exchange Act of 1934 (the
           "Exchange Act")) shall have become the beneficial owner of, or shall
           have obtained voting control over thirty percent (30%) or more of the
           outstanding common shares of the Company;

     (ii)  The date the shareholders of the Company approve a definitive
           agreement (A) to merge or consolidate the Company with or into
           another corporation, in which the Company is not the continuing or
           surviving corporation or pursuant to which any common shares of the
           company would be converted into cash, securities or other property of
           another corporation, other than a merger of the Company in which
           holders of common shares immediately prior to the merger have the
           same proportionate ownership of common stock of the surviving
           corporation immediately after the merger as immediately before, or
           (B) to sell or otherwise dispose of substantially all the assets of
           the Company; or

     (iii) The date there shall have been a change in a majority of the Board of
           Directors of the Company within a twelve (12) month period unless the
           nomination for election by the Company's shareholders of each new
           director was approved by the vote of two-thirds of the directors then
           still in office who were in office at the beginning of the twelve
           (12) month period.

     4.6 The provisions of Paragraphs 4.4 and 4.5 and this Paragraph 4.6 may not
be amended or deleted, nor superseded by any other provision of the Plan, during
the period beginning on the date of a Change in Control and ending on the date
five (5) years following such Change in Control.

                                    SECTION 5
                          DIRECTORS' RETIREMENT BENEFIT

     5.1 Effective April 30, 1998, each of the persons serving as a Director on
December 12, 1997 shall be credited with a retirement benefit of $4,167 a month
for 120 months of continuous service and no additional retirement benefits shall
accrue under the Plan. Each of the persons serving as a Director on December 12,
1997 may elect: (a) to have his or her retirement benefit under the Plan treated
as provided in Section 5.2 of the Plan; or (b) to have the present value of that
retirement benefit credited to an unfunded phantom stock account and converted
into phantom stock units based on the closing price of the Company's common
stock on April 30, 1998, with those phantom stock units then being credited with
the same cash and stock dividends,

<Page>

                                       -4-

stock splits and other distributions and adjustments as are paid on the
Company's common stock. The phantom stock units shall be payable to the Director
in annual payments commencing on the first day of the calendar month next
following the earlier of the Director's death or termination of service as a
Director, in an amount determined by the closing price of the Company's common
stock on the first business day preceding the payment date. Unless the
retirement benefit is terminated, the annual benefit shall continue to be paid
on the anniversary of the day on which the first such retirement benefit payment
was made, until the benefit has been paid for ten years, or until the death of
the Director or surviving spouse, if earlier. If a Director should die with such
benefit still in effect, prior to receipt of all payments due hereunder, the
annual benefit shall continue to be paid to the surviving spouse of such
Director until all payments due hereunder have been made or until the death of
the surviving spouse, if earlier.

     5.2 Any person serving as a Director on December 12, 1997 who elects to
have his or her retirement benefit paid pursuant to this Section 5.2 shall
receive a monthly benefit equal to $4,167. Payment of the monthly benefit shall
commence on the first day of the calendar month next following the earlier of
the Director's death or termination of service as a Director. Unless the
retirement benefit is terminated, the monthly benefit shall continue to be paid
on the first day of each calendar month thereafter, until the benefit has been
paid for one hundred and twenty (120) months, or until the death of the Director
or surviving spouse, if earlier. If a Director should die with such benefit
still in effect, prior to receipt of all payments due hereunder, the monthly
benefit shall continue to the surviving spouse of such Director until all
payments due hereunder have been made or until the death of the surviving
spouse, if earlier.

     5.3 Directors who retired on or before December 12, 1997 will receive the
form and amount of retirement benefit payable under the terms of the Plan in
effect at the time of their retirement.

     5.4 Each Director who is granted a retirement benefit hereunder shall make
him or herself available for such consultation with the Board of Directors or
any committee or member thereof, as may be reasonably requested from time to
time by the Chairman of the Board of Directors, following such Director's
termination of service as a Director. The Company shall reimburse each such
Director for all reasonable travel, lodging and subsistence expenses incurred by
the Director at the request of the Company in rendering such consultation. The
Company may terminate the retirement benefit if the Director should fail to
render such consultation, unless prevented by disability or other reason beyond
the Director's control.

     5.5 It is recognized that during a Director's period of service as a
Director and as a consultant hereunder, a Director will acquire knowledge of the
affairs of the Company and its subsidiaries, the disclosure of which would be
contrary to the best interests of the Company. Accordingly, the Company may
terminate the retirement benefit if, without the express consent of the Company,
the Director accepts election to the Board of Directors of, acquires a
partnership or proprietary interest in, or renders services as an employee or
consultant to, any business entity which is engaged in substantial competition
with the Company or any of its subsidiaries.

     5.6 An individual will be considered a Director's "surviving spouse" for
purposes of this Section 5 only if the Director and such individual were married
in a religious or civil ceremony recognized under the laws of the state where
the marriage was contracted and the marriage remained legally effective at the
date of the Director's death.

<Page>

                                       -5-

                                    SECTION 6
                        CONVERSION TO COMMON STOCK UNITS

     6.1 Any Director who is then serving as a director may, by written notice
filed with the Secretary of the Company, elect to have all or any portion of
deferred fees previously earned but not yet paid, transferred from the
Director's Deferred Fee Account to a Stock Account maintained on his or her
behalf pursuant to paragraph 9.3. Any election as to a portion of such fees
shall be expressed as a percentage and the same percentage shall be applied to
all such fees regardless of the calendar year in which earned or to all deferred
fees earned in designated calendar years, as specified by the Director. A
Director may make no more than one election under this paragraph 6.l in any
calendar year. All such elections may apply only to deferred fees for which an
election has not previously been made and shall be irrevocable.

     6.2 Any Director may, by written notice filed with the Secretary of the
Company, elect to have all or any portion of deferred fees earned subsequent to
the date such notice is filed credited to a Stock Account established under this
Section 6. Fees covered by such election shall be credited to such account at
the end of each calendar quarter in, or for which, such fees are earned. Such
election may be revoked or modified by such Director, by written notice filed
with the Secretary of the Company, as to deferred fees to be earned in calendar
years subsequent to the calendar year such notice is filed, but shall be
irrevocable as to deferred fees earned prior to such year.

     6.3 Deferred fees credited to a Stock Account under paragraph 6.1 shall be
converted to Common Stock Units by dividing the deferred fees so credited by the
closing price of common shares of the Company on the date notice of election
under paragraph 6.1 is received by the Company (or the next business day, if
there are no sales on such date) as reported on the New York Stock Exchange
Composite Reporting System. Deferred fees credited to a Stock Account under
paragraph 6.2 shall be converted to Common Stock Units by dividing the deferred
fees so credited by the closing price of common shares of the Company as of the
last business day of the calendar quarter for which the credit is made, as
reported on the New York Stock Exchange Composite Reporting System.

     6.4 Each Common Stock Unit shall be credited with the same cash and stock
dividends, stock splits and other distributions and adjustments as are received
by one common share of the Company. All cash dividends and other cash
distributions credited to Common Stock Units shall be converted to additional
Common Stock Units by dividing each such dividend or distribution by the closing
price of common shares of the Company on the payment date for such dividend or
distribution, as reported by the New York Stock Exchange Composite Reporting
System.

     6.5 The value of the Common Stock Units credited each Director shall be
paid the Director in cash on the dates specified in paragraph 4.2 (or, if
applicable, paragraph 4.4). The amount of each payment shall be determined by
multiplying the Common Stock Units payable on each date specified in paragraph
4.2 (or, if applicable, paragraph 4.4) by the closing price of common shares of
the Company on the day prior to that date (or the next preceding business day if
there are no sales on such date), as reported by the New York Stock Exchange
Composite Reporting System.

<Page>

                                       -6-

                                    SECTION 7
                                  MISCELLANEOUS

     7.1 Each Director or former Director entitled to payment of deferred fees
hereunder, from time to time may name any person or persons (who may be named
contingently or successively) to whom any deferred Director's fees earned by him
and payable to him are to be paid in case of his death before he receives any or
all of such deferred Director's fees. Each designation will revoke all prior
designations by the same Director or former Director, shall be in form
prescribed by the Company, and will be effective only when filed by the Director
or former Director in writing with the Secretary of the Company during his
lifetime. If a deceased Director or former Director shall have failed to name a
beneficiary in the manner provided above, or if the beneficiary named by a
deceased Director or former Director dies before him or before payment of all
the Director's or former Director's deferred Directors' fees, the Company, in
its discretion, may direct payment in a single sum of any remaining deferred
Directors' fees to either:

     (a)  any one or more or all of the next of kin (including the surviving
          spouse) of the Director or former Director, and in such proportions as
          the Company determines; or

     (b)  the legal representative or representatives of the estate of the last
          to die of the Director or former Director and his last surviving
          beneficiary.

The person or persons to whom any deceased Director's or former Director's
deferred Directors' fees are payable under this paragraph will be referred to as
his "beneficiary."

     7.2 Establishment of the Plan and coverage thereunder of any person shall
not be construed to confer any right on the part of such person to be nominated
for reelection to the Board of Directors of the Company, or to be reelected to
the Board of Directors.

     7.3 Payment of deferred Directors' fees will be made only to the person
entitled thereto in accordance with the terms of the Plan, and deferred
Directors' fees are not in any way subject to the debts or other obligations of
persons entitled thereto, and may not be voluntarily or involuntarily sold,
transferred or assigned. When a person entitled to a payment under the Plan is
under legal disability or, in the Company's opinion, is in any way incapacitated
so as to be unable to manage his financial affairs, the Company may direct that
payment be made to such person's legal representative, or to a relative or
friend of such person for his benefit. Any payment made in accordance with the
preceding sentence shall be in complete discharge of the Company's obligation to
make such payment under the Plan.

     7.4 Any action required or permitted to be taken by the Company under the
terms of the Plan shall be by affirmative vote of a majority of the members of
the Board of Directors then in office.

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                                      -7-

                                    SECTION 8
                          AMENDMENT AND DISCONTINUANCE

     While the Company expects to continue the Plan, it must necessarily
reserve, and does hereby reserve, the right to amend or discontinue the Plan at
any time; provided, however, that any amendment or discontinuance of the Plan
shall be prospective in operation only, and shall not affect the payment of any
deferred Directors' fees theretofore earned by any Director, or the conditions
under which any such fees are to be paid or forfeited under the Plan, unless the
Director affected shall expressly consent thereto.

                                    SECTION 9
                       ALTERNATE PAYMENT OF DEFERRED FEES

     9.1 By written notice filed with the Secretary of the Company prior to
calendar years beginning after December 31, 1988 (or, for the calendar year he
first becomes a Director within 30 days of becoming a Director), a Director may
elect to receive all or any portion of his deferred fees earned in such calendar
years in a lump sum in accordance with the provisions of this Section 9. An
election under this subsection 9.1 may be revoked or modified by the Director by
written notice to the Secretary of the Company as to deferred fees earned under
Section 3 in calendar years beginning after the calendar year in which he files
such notice. Any amounts that were deferred for calendar years beginning before
January 1, 1989 shall automatically be paid as provided in this Section 9.

     9.2 If payment of a Director's deferred fees is made pursuant to paragraph
9.1, a portion of such fees shall be paid in cash for the Director directly to a
"Grantor Trust" established by the Director, provided such trust is in a form
which the Company determines to be substantially similar to the trust attached
to this plan as Exhibit A; and the balance of the deferred fees shall be paid in
cash directly to the Director, provided that the payment made directly to the
Director shall approximate the aggregate federal, state and local individual
income taxes attributable to the deferred fees paid pursuant to this paragraph
9.2.

     9.3 The Company will establish and maintain four separate accounts in the
name of each Director, "a Deferred Fee Account", a "Deferred Fee Trust Account",
a "Stock Account" and a "Stock Trust Account". The Deferred Fee Account shall
reflect the deferred fees and interest to be credited to a Director pursuant to
Section 3. The Deferred Fee Trust Account shall reflect any deferred fees paid
in cash to a Director (including amounts paid to a Director's Grantor Trust and
allocated to the deferred account maintained thereunder) pursuant to paragraph
9.2 and any adjustments made pursuant to paragraph 9.4. The Stock Account shall
reflect the deferred fees converted to Common Stock Units pursuant to Section 6
and any adjustments made pursuant to that Section. The Stock Trust Account shall
reflect deferred fees that have been converted to Common Stock Units under
Section 6 and paid in cash to a Director (including amounts paid to a Director's
Grantor Trust and allocated to the stock account maintained thereunder) pursuant
to paragraph 9.2 and any adjustments made pursuant to paragraph 9.5. The
Accounts established pursuant to this paragraph 9.3 are for the convenience of
the administration of the plan and no trust relationship with respect to such
Accounts is intended or should be implied.

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                                        -8-

     9.4 As of the end of each calendar year, the Company shall adjust each
Director's Deferred Fee Trust Account as follows:

     (a)  FIRST, charge an amount equal to the product of: (i) any payments made
          to the Director during that year from the deferred account maintained
          under his or her Grantor Trust (other than distributions of trust
          earnings in excess of the Net Interest Accrual authorized by the
          administrator of the trust to provide for the Tax Gross Up under
          paragraph 9.9 below); multiplied by (ii) a fraction, the numerator of
          which is the balance in the Director's Deferred Fee Trust Account as
          of the end of the prior calendar year and the denominator of which is
          the balance in the deferred account maintained under the Director's
          Grantor Trust (as determined by the administrator of the trust) as of
          that same date;

     (b)  NEXT, credit an amount equal to the deferred fees that have not been
          converted to Common Stock Units that are paid that year to the
          Director (including the amount paid to the Director's Grantor Trust
          and allocated to the deferred account maintained thereunder) pursuant
          to paragraph 9.2; and

     (c)  FINALLY, credit an amount equal to the Interest Accrual earned for
          that year pursuant to paragraph 9.6.

     9.5  As of the end of each calendar year, the Company shall adjust each
Director's Stock Trust Account as follows:

     (a)  FIRST, charge an amount equal to the product of: (i) any payments made
          to the Director during that year from the stock account maintained
          under his or her Grantor Trust (other than distributions of trust
          earnings authorized by the administrator of the trust to provide for
          the Tax Gross Up under paragraph 9.9 below); multiplied by (ii) a
          fraction, the numerator of which is the balance in the Director's
          Stock Trust Account as of the end of the prior calendar year and the
          denominator of which is the balance in the stock account maintained
          under the Director's Grantor Trust (as determined by the administrator
          of the trust) as of that same date;

     (b)  NEXT, credit an amount equal to the deferred fees that have been
          converted to Common Stock Units that are paid that year to the
          Director (including the amount paid to the Director's Grantor Trust
          and allocated to the stock account maintained thereunder) pursuant to
          paragraph 9.2; and

     (c)  FINALLY, credit an amount equal to the Book Value Adjustments to be
          made for that year pursuant to paragraph 9.6.

<Page>

                                      -9-

     9.6 As of the end of each calendar year, a Director's Deferred Fee Trust
Account shall be credited with interest at the rate described in paragraph 3.7.
Any amount so credited shall be referred to as a Director's "Interest Accrual".
As of that same date, a Director's Stock Trust Account shall be adjusted as
provided in paragraph 6.4, and shall also be adjusted to reflect the increase or
decrease in the fair market value of the Company's common stock determined in
accordance with paragraph 6.5. Such adjustments shall be referred to as "Book
Value Adjustments."

     9.7 In addition to any fees earned by a Director under Section 3 of this
plan or paid under paragraphs 4.1 or 9.1 the Company shall also make a payment
to a Director's Grantor Trust (a "Guaranteed Rate Payment"), to be credited to
the deferred account maintained thereunder, for any year in which the net income
credited to the deferred account maintained under such trust does not equal or
exceed the Director's Net Interest Accrual for that year. A Director's "Net
Interest Accrual" for a year is an amount equal to: (a) the Interest Accrual
credited to the Director's Deferred Fee Trust Account for that year; less (b)
the product of (i) the amount of such Interest Accrual, multiplied by (ii) the
aggregate of the federal, state and local individual income tax rates
(determined in accordance with paragraph 9.10). The Guaranteed Rate Payment
shall equal the difference between the Director's Net Interest Accrual and the
net income credited to the deferred account maintained under the Director's
Grantor Trust for the year, and shall be paid within 90 days of the end of that
year.

     9.8 The Company shall also make a payment to a Director's Grantor Trust (a
"Guaranteed Principal Payment"), to be credited to the stock account maintained
thereunder, to the extent that the balance in the stock account as of the end of
any calendar year is less than 75 percent of the balance of the Director's Stock
Trust Account (net of federal, state and local income taxes) as of that same
date. For the calendar year in which the last installment distribution is made
from the Director's Grantor Trust, the payment made under this paragraph 9.8
shall equal the amount, if any, needed to increase the fair market value of the
stock account maintained under the Director's Grantor Trust; such that if a
distribution of the stock account were then made to the Director, the Director
would receive the same amount he or she would have received (net of federal,
state and local income taxes) if his or her Stock Trust Account were to be
distributed on that same date with the deferred fees that had been allocated to
that Account taxed at the federal, state and local income tax rates in effect on
the date the fees were credited to the Account and the balance of the Account
taxed at the federal, state and local income tax rates in effect on the date of
the distribution. Payments required under this paragraph 9.8 shall be made
within 90 days of the end of the calendar year, except the last payment which
shall be made not later than the due date of the last installment distribution
from the Director's Grantor Trust.

     9.9 In addition to the fees provided under Section 3, each Director (or, if
the Director is deceased, the beneficiary designated under the Director's
Grantor Trust) shall be entitled to a Tax Gross Up payment for each year there
is a balance in his or her Deferred Fee Trust Account or Stock Trust Account.
The "Tax Gross Up" shall approximate: (a) the amount necessary to compensate the
Director (or beneficiary) for the net increase in his or her federal, state and
local income taxes as a result of the inclusion in the Director's (or
beneficiary's) taxable income of the income of his or her Grantor Trust and any
Guaranteed Rate and Guaranteed Principal Payments

<Page>

                                      -10-

for that year; less (b) any distribution to the Director (or beneficiary) of his
or her Grantor Trust's net earnings for that year; plus (c) an amount necessary
to compensate the Director (or beneficiary) for the net increase in the taxes
described in (a) above as a result of the inclusion in his or her taxable income
of any payment made pursuant to this paragraph 9.9.

     9.10 For purposes of this Section, a Director's federal income tax rate
shall be deemed to be the highest marginal rate of federal individual income tax
in effect in the calendar year in which a calculation under this Section is to
be made and state and local tax rates shall be deemed to be the highest marginal
rates of individual income tax in effect in the state and locality of the
Director's residence on the date such a calculation is made, net of any federal
tax benefits. Notwithstanding the preceding sentence, if a Director is not a
citizen or resident of the United States, his or her income tax rates shall be
deemed to be the highest marginal income tax rates actually imposed on the
Director's benefits under this Plan or earnings under his or her Grantor Trust.

     9.11 If a Director's deferred fees have been paid to a Grantor Trust(s)
pursuant to paragraph 9.2, then at any time (and from time to time) prior to the
Director's retirement the Director may elect to have those deferred fees paid to
him or her from the Grantor Trust(s) either:

     (i)  in the order in which they were earned (i.e., the fees for the
          earliest year of service as a Director will be the first fees
          distributed from the Grantor Trust(s), the fees for the next earliest
          year of service as a Director will be paid on the anniversary of the
          payment of the first installment, etc.), or

     (ii) in reverse chronological order from the order in which they were
          earned (i.e., the fees for the Director's last year of service as a
          Director will be the first fees distributed from the Grantor Trust(s),
          the fees for the penultimate year of service as a Director will be
          paid on the anniversary of the payment of the first installment,
          etc.).

If a Director fails to elect a manner of payment for his or her deferred fees,
then those deferred fees will be paid to the Director in the order in which they
were earned. The date on which payments commence and the other terms governing
distributions from the Grantor Trust(s) shall be determined in accordance with
the terms of the Grantor Trust(s). A Director's deferred fees shall continue to
be paid until all deferred fees to which the Director is entitled to receive
under the Plan shall have been paid in accordance with the terms of the Grantor
Trust(s).

<Page>

Exhibit A

                       IRREVOCABLE GRANTOR TRUST AGREEMENT

     THIS AGREEMENT, made this ___________ day of ___________, 198_, by and
between _______________________ of __________,___________ (the "grantor"), and
The Northern Trust Company, located at Chicago, Illinois, as trustee (the
"trustee"),

                                WITNESSETH THAT:

     WHEREAS, the grantor desires to establish and maintain a trust to hold
certain benefits received by the grantor under the Abbott Laboratories
Non-Employee Directors' Fee Plan, as it may be amended from time to time;

     NOW, THEREFORE, IT IS AGREED as follows:

                                    ARTICLE I
                                  INTRODUCTION

     I-1. NAME. This agreement and the trust hereby evidenced (the "trust") may
be referred to as the "______________ 1988 Grantor Trust".

     I-2. THE TRUST FUND. The "trust fund" as at any date means all property
then held by the trustee under this agreement.

     I-3. STATUS OF THE TRUST. The trust shall be irrevocable. The trust is
intended to constitute a grantor trust under Sections 671-678 of the Internal
Revenue Code, as amended, and shall be construed accordingly.

     I-4. THE ADMINISTRATOR. Abbott Laboratories ("Abbott") shall act as the
"administrator" of the trust, and as such shall have certain powers, rights and
duties under this agreement as described below. Abbott will certify to the
trustee from time to time the person or persons authorized to act on behalf of
Abbott as the administrator. The trustee may rely on the latest certificate
received without further inquiry or verification.

     I-5. ACCEPTANCE. The trustee accepts the duties and obligations of the
"trustee" hereunder, agrees to accept funds delivered to it by the grantor or
the administrator, and agrees to hold such funds (and any proceeds from the
investment of such funds) in trust in accordance with this agreement.

                                   ARTICLE II
                         DISTRIBUTION OF THE TRUST FUND

     II-1. SEPARATE ACCOUNTS. The administrator shall maintain two separate
accounts under the trust, a "deferred account" and a "stock account." Funds
delivered to the trustee shall be allocated between the accounts by the trustee
as directed by the administrator. As of the end of each calendar year, the
administrator shall charge each account with all distributions made from such

<Page>

                                      -2-

account during that year; and credit each account with its share of income and
realized gains and charge each account with its share of expenses and realized
losses for the year. The trustee shall be required to make separate investments
of the trust fund for the accounts, and may not administer and invest all funds
delivered to it under the trust as one trust fund.

     II-2. DISTRIBUTIONS PRIOR TO THE GRANTOR'S DEATH. Principal and accumulated
income shall not be distributed from the trust prior to the grantor's
termination of service as a Director of Abbott (the grantor's "settlement
date"); provided that, each year the administrator may direct the trustee to
distribute to the grantor a portion of the income of the trust fund for that
year, with the balance of such income to be accumulated in the trust. The
administrator shall inform the trustee of the grantor's settlement date.
Thereafter, the trustee shall distribute the trust fund to the grantor, if then
living, in a series of annual installments, commencing on the first day of the
month next following the later of the grantor's settlement date or the date the
grantor attains age 65 years. The administrator shall inform the trustee of the
number of installment distributions and the amount of each installment
distribution under this paragraph II-2, and the trustee shall be fully protected
in relying on such information received from the administrator.

     II-3. DISTRIBUTIONS AFTER THE GRANTOR'S DEATH. The grantor, from time to
time may name any person or persons (who may be named contingently or
successively and who may be natural persons or fiduciaries) to whom the
principal of the trust fund and all accrued or undistributed income thereof
shall be distributed in a lump sum or, if the beneficiary is the grantor's
spouse (or a trust for which the grantor's spouse is the sole income
beneficiary), in installments, as directed by the grantor, upon the grantor's
death. If the grantor directs an installment method of distribution to the
spouse as beneficiary, any amounts remaining at the death of the spouse
beneficiary shall be distributed in a lump sum to the executor or administrator
of the spouse beneficiary's estate. If the grantor directs an installment method
of distribution to a trust for which the grantor's spouse is the sole income
beneficiary, any amounts remaining at the death of the spouse shall be
distributed in a lump sum to such trust. Despite the foregoing, if (i) the
beneficiary is a trust for which the grantor's spouse is the sole income
beneficiary, (ii) payments are being made pursuant to this paragraph II-3 other
than in a lump sum and (iii) income earned by the trust fund for the year
exceeds the amount of the annual installment payment, then such trust may elect
to withdraw such excess income by written notice to the trustee. Each
designation shall revoke all prior designations, shall be in writing and shall
be effective only when filed by the grantor with the administrator during the
grantor's lifetime. If the grantor fails to direct a method of distribution, the
distribution shall be made in a lump sum. If the grantor fails to designate a
beneficiary as provided above, then on the grantor's death, the trustee shall
distribute the balance of the trust fund in a lump sum to the executor or
administrator of the grantor's estate.

     II-4. FACILITY OF PAYMENT. When a person entitled to a distribution
hereunder is under legal disability, or, in the trustee's opinion, is in any way
incapacitated so as to be unable to manage his or her financial affairs, the
trustee may make such distribution to such person's legal representative, or to
a relative or friend of such person for such person's benefit. Any distribution
made in accordance with the preceding sentence shall be a full and complete
discharge of any liability for such distribution hereunder.

<Page>

                                      -3-

     II-5. PERPETUITIES. Notwithstanding any other provisions of this agreement,
on the day next preceding the end of 21 years after the death of the last to die
of the grantor and the grantor's descendants living on the date of this
instrument, the trustee shall immediately distribute any remaining balance in
the trust to the beneficiaries then entitled to distributions hereunder.

                                   ARTICLE III
                          MANAGEMENT OF THE TRUST FUND

     III-1. GENERAL POWERS. The trustee shall, with respect to the trust fund,
have the following powers, rights and duties in addition to those provided
elsewhere in this agreement or by law:

     (a)  Subject to the limitations of subparagraph (b) next below, to sell,
          contract to sell, purchase, grant or exercise options to purchase, and
          otherwise deal with all assets of the trust fund, in such way, for
          such considerations, and on such terms and conditions as the trustee
          decides.

     (b)  To retain in cash such amounts as the trustee considers advisable; and
          to invest and reinvest the balance of the trust fund, without
          distinction between principal and income, in common stock of Abbott
          Laboratories, or in obligations of the United States Government and
          its agencies or which are backed by the full faith and credit of the
          United States Government or in any mutual fund, common trust fund or
          collective investment fund which invests solely in such obligations;
          and any such investment made or retained by the trustee in good faith
          shall be proper despite any resulting risk or lack of diversification
          or marketability.

     (c)  To deposit cash in any depositary (including the banking department of
          the bank acting as trustee) without liability for interest, and to
          invest cash in savings accounts or time certificates of deposit
          bearing a reasonable rate of interest in any such depositary.

     (d)  To invest, subject to the limitations of subparagraph (b) above, in
          any common or commingled trust fund or funds maintained or
          administered by the trustee solely for the investment of trust funds.

     (e)  To borrow from anyone, with the administrator's approval, such sum or
          sums from time to time as the trustee considers desirable to carry out
          this trust, and to mortgage or pledge all or part of the trust fund as
          security.

     (f)  To retain any funds or property subject to any dispute without
          liability for interest and to decline to make payment or delivery
          thereof until final adjudication by a court of competent jurisdiction
          or until an appropriate release is obtained.

     (g)  To begin, maintain or defend any litigation necessary in connection
          with the administration of this trust, except that the trustee shall
          not be obliged or required to do so unless indemnified to the
          trustee's satisfaction.

     (h)  To compromise, contest, settle or abandon claims or demands.

<Page>

                                      -4-

     (i)  To give proxies to vote stocks and other voting securities, to join in
          or oppose (alone or jointly with others) voting trusts, mergers,
          consolidations, foreclosures, reorganizations, liquidations, or other
          changes in the financial structure of any corporation, and to exercise
          or sell stock subscription or conversion rights.

     (j)  To hold securities or other property in the name of a nominee, in a
          depositary, or in any other way, with or without disclosing the trust
          relationship.

     (k)  To divide or distribute the trust fund in undivided interests or
          wholly or partly in kind.

     (l)  To pay any tax imposed on or with respect to the trust; to defer
          making payment of any such tax if it is indemnified to its
          satisfaction in the premises; and to require before making any payment
          such release or other document from any lawful taxing authority and
          such indemnity from the intended payee as the trustee considers
          necessary for its Protection.

     (m)  To deal without restriction with the legal representative of the
          grantor's estate or the trustee or other legal representative of any
          trust created by the grantor or a trust or estate in which a
          beneficiary has an interest, even though the trustee, individually,
          shall be acting in such other capacity, without liability for any loss
          that may result.

     (n)  To appoint or remove by written instrument any bank or corporation
          qualified to act as successor trustee, wherever located, as special
          trustee as to part or all of the trust fund, including property as to
          which the trustee does not act, and such special trustee, except as
          specifically limited or provided by this or the appointing instrument,
          shall have all of the rights, titles, powers, duties, discretions and
          immunities of the trustee, without liability for any action taken or
          omitted to be taken under this or the appointing instrument.

     (o)  To appoint or remove by written instrument any bank, wherever located,
          as custodian of part or all of the trust fund, and each such custodian
          shall have such rights, powers, duties and discretions as are
          delegated to it by the trustee.

     (p)  To employ agents, attorneys, accountants or other persons, and to
          delegate to them such powers as the trustee considers desirable, and
          the trustee shall be protected in acting or refraining from acting on
          the advice of Persons so employed without court action.

     (q)  To perform any and all other acts which in the trustee's judgment are
          appropriate for the proper management, investment and distribution of
          the trust fund.

     III-2. PRINCIPAL AND INCOME. Any income earned on the trust fund which is
not distributed as provided in Article II shall be accumulated and from time to
time added to the principal of the trust. The grantor's interest in the trust
shall include all assets or other property held by the trustee hereunder,
including principal and accumulated income.

<Page>

                                      -5-

     III-3. STATEMENTS. The trustee shall prepare and deliver monthly to the
administrator and annually to the grantor, if then living, otherwise to each
beneficiary then entitled to distributions under this agreement, a statement (or
series of statements) setting forth (or which taken together set forth) all
investments, receipts, disbursements and other transactions effected by the
trustee during the reporting period; and showing the trust fund and the value
thereof at the end of such period.

     III-4. COMPENSATION AND EXPENSES. All reasonable costs, charges and
expenses incurred in the administration of this trust, including compensation to
the trustee, any compensation to agents, attorneys, accountants and other
persons employed by the trustee, and expenses incurred in connection with the
sale, investment and reinvestment of the trust fund shall be paid from the trust
fund.

                                   ARTICLE IV
                               GENERAL PROVISIONS

     IV-1. INTERESTS NOT TRANSFERABLE. The interests of the grantor or other
persons entitled to distributions hereunder are not subject to their debts or
other obligations and may not be voluntarily or involuntarily sold, transferred,
alienated, assigned or encumbered.

     IV-2. DISAGREEMENT AS TO ACTS. If there is a disagreement between the
trustee and anyone as to any act or transaction reported in any accounting, the
trustee shall have the right to a settlement of its account by any proper court.

     IV-3. TRUSTEE'S OBLIGATIONS. No power, duty or responsibility is imposed on
the trustee except as set forth in this agreement. The trustee is not obliged to
determine whether funds delivered to or distributions from the trust are proper
under the trust, or whether any tax is due or payable as a result of any such
delivery or distribution. The trustee shall be protected in making any
distribution from the trust as directed pursuant to Article II without inquiring
as to whether the distributee is entitled thereto; and the trustee shall not be
liable for any distribution made in good faith without written notice or
knowledge that the distribution is not proper under the terms of this agreement.

     IV-4. GOOD FAITH ACTIONS. The trustee's exercise or non-exercise of its
powers and discretions in good faith shall be conclusive on all persons. No one
shall be obliged to see to the application of any money paid or property
delivered to the trustee. The certificate of the trustee that it is acting
according to this agreement will fully protect all persons dealing with the
trustee.

     IV-5. WAIVER OF NOTICE. Any notice required under this agreement may be
waived by the Person entitled to such notice.

     IV-6. CONTROLLING LAW. The laws of the State of Illinois shall govern the
interpretation and validity of the provisions of this agreement and all
questions relating to the management, administration, investment and
distribution of the trust hereby created.

     IV-7. SUCCESSORS. This agreement shall be binding on all persons entitled
to distributions hereunder and their respective heirs and legal representatives,
and on the trustee and its successors.

<Page>

                                      -6-

                                    ARTICLE V
                               CHANGES IN TRUSTEE

     V-1. RESIGNATION OR REMOVAL OF TRUSTEE. The trustee may resign at any time
by giving thirty days' advance written notice to the administrator and the
grantor. The administrator may remove a trustee by written notice to the trustee
and the grantor.

     V-2. APPOINTMENT OF SUCCESSOR TRUSTEE. The administrator shall fill any
vacancy in the office of trustee as soon as practicable by written notice to the
successor trustee; and shall give prompt written notice thereof to the grantor,
if then living, otherwise to each beneficiary then entitled to payments or
distributions under this agreement. A successor trustee shall be a bank (as
defined in Section 581 of the Internal Revenue Code, as amended).

     V-3. DUTIES OF RESIGNING OR REMOVED TRUSTEE AND OF SUCCESSOR TRUSTEE. A
trustee that resigns or is removed shall furnish promptly to the administrator
and the successor trustee an account of its administration of the trust from the
date of its last account. Each successor trustee shall succeed to the title to
the trust fund vested in its predecessor without the signing or filing of any
instrument, but each predecessor trustee shall execute all documents and do all
acts necessary to vest such title of record in the successor trustee. Each
successor trustee shall have all the powers conferred by this agreement as if
originally named trustee. No successor trustee shall be personally liable for
any act or failure to act of a predecessor trustee. With the approval of the
administrator, a successor trustee may accept the account furnished and the
property delivered by a predecessor trustee without incurring any liability for
so doing, and such acceptance will be complete discharge to the predecessor
trustee.

                                   ARTICLE VI
                            AMENDMENT AND TERMINATION

     VI-1. AMENDMENT. With the consent of the administrator, this trust may be
amended from time to time by the grantor, if then living, otherwise by a
majority of the beneficiaries then entitled to payments or distributions
hereunder, except as follows:

     (a)  The duties and liabilities of the trustee cannot be changed
          substantially without its consent.

     (b)  This trust may not be amended so as to make the trust revocable.

     VI-2. TERMINATION. This trust shall not terminate, and all rights, titles,
powers, duties, discretions and immunities imposed on or reserved to the
trustee, the administrator, the grantor and the beneficiaries shall continue in
effect, until all assets of the trust have been distributed by the trustee as
provided in Article II.

<Page>

                                      -7-

     IN   WITNESS WHEREOF, the grantor and the trustee have executed this
agreement as of the day and year first above written.

                               --------------------------------------
                               Grantor

                               The Northern Trust Company, as Trustee

                               By
                                  -----------------------------------

                               Its
                                  -----------------------------------

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