MATERIAL SCIENCES CORP
MATERIAL SCIENCES CORPORATION PHANTOM STOCK UNIT AGREEMENT
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<TYPE>EX-10.(HH)
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<DESCRIPTION>MATERIAL SCIENCES CORPORATION PHANTOM STOCK UNIT AGREEMENT
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<TITLE>Material Sciences Corporation Phantom Stock Unit Agreement</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10(hh)</B> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><U>MATERIAL SCIENCES CORPORATION</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><U>PHANTOM STOCK UNIT AGREEMENT</U> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">THIS
PHANTOM STOCK UNIT AGREEMENT (the &#147;<U>Agreement</U>&#148;), dated as of this 5th day of May, 2004, by and between Material Sciences Corporation, a Delaware corporation (the &#147;<U>Company</U>&#148;), and James J. Waclawik, Sr. (the
&#147;<U>Unit Holder</U>&#148;), is entered into with reference to the following: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">A. The Company is desirous of providing additional incentives to Unit Holder in rendering services as an executive officer, employee and/or consultant of the Company and in order to accomplish this result has
determined to grant him phantom stock units. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">B. Unit Holder is
desirous of accepting the grant on the terms and conditions set forth herein. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">NOW, THEREFORE, it is agreed as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">1.
<U>Grant</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) Subject to the terms and conditions set
forth in this Agreement, the Company grants the Unit Holder (i) 19,070 Units (as defined below) (the &#147;<U>First Grant</U>&#148;), which will vest and be paid-out in accordance with the provisions of this Agreement if the First Vesting Date
(defined below) occurs during the period commencing on the date hereof and expiring at the close of business on July 31, 2006 (the &#147;<U>First Expiration Date</U>&#148;) and (ii) 18,066 Units (the &#147;<U>Second Grant</U>&#148;), which will vest
and be paid out in accordance with the provisions of this Agreement if the Second Vesting Date (defined below) occurs during the period commencing on the date hereof and expiring on the close of business on July 31, 2007 (the &#147;<U>Second
Expiration Date</U>&#148; and, together with the First Expiration Date, the &#147;<U>Expiration Dates</U>&#148;). Each Unit represents the right to receive cash in an amount (the &#147;<U>Payout Amount</U>&#148;) equal to (i) the average of the Fair
Market Value of one share of the Company&#146;s Common Stock for the 30 consecutive trading days ending on the applicable Vesting Date <U>plus</U> (ii) the aggregate amount of dividends declared on one share of Common Stock prior to the applicable
Vesting Date (but only for dividends as to which the &#147;ex-dividend&#148; trading dates are prior to the applicable Vesting Date). For purposes of this Agreement, &#147;Fair Market Value of one share of Common Stock&#148; on a particular day
shall mean the closing sales price of the Common Stock on the New York Stock Exchange on that day. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">2. <U>Pay-out of Units</U>. Within 15 business days after each Vesting Date, the Company shall pay the Unit Holder an amount equal to (i) the number of
Units which vested on that Vesting Date multiplied by (ii) the Payout Amount. On the Expiration Dates, any unvested Units shall automatically and without notice terminate and become null and void. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">3. <U>Vesting</U>. The First Grant shall vest when the Fair Market Value of
one share of Common Stock is at or higher than $14.00 (&#147;<U>First Strike Price</U>&#148;) for 30 consecutive trading days (the &#147;<U>First Vesting Date</U>&#148;) and the Second Grant shall vest when the Fair Market Value </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">of one share of Common Stock is at or higher than $15.00 (&#147;<U>Second Strike Price</U>&#148; and, together with the
First Strike Price, the &#147;<U>Strike Prices</U>&#148;) for 30 consecutive trading days (the &#147;<U>Second Vesting Date</U>,&#148; and together with the First Vesting Date, the &#147;<U>Vesting Dates</U>&#148;), but in each case only if the Unit
Holder is actively serving as an executive officer, employee or consultant on (or has served as an executive officer, employee or consultant through at least May 31, 2005 in accordance with the terms of his Employment Agreement and his Consulting
Agreement prior to), the First Vesting Date or Second Vesting Date, as the case may be, with no interruption of continuous service from the date of this Agreement through the applicable Vesting Date (or, if earlier, May 31, 2005). For greater
certainty, any leave of absence for periods and purposes conforming to the personnel policies of the Company and approved by the Compensation and Organization Committee (the &#147;<U>Committee</U>&#148;) of the Board of Directors shall not be deemed
to be an interruption of continuous service. If any dividend is declared on the Common Stock prior to the First Vesting Date (and the &#147;ex-dividend&#148; trading date is prior to the First Vesting Date), then the Strike Prices shall
automatically be reduced by the per share amount of such dividend with effect from and after the &#147;ex-dividend&#148; date. If any dividend is declared on the Common Stock after the First Vesting Date but prior to the Second Vesting Date (and the
&#147;ex-dividend&#148; trading date falls within that period), then the Second Strike Price shall automatically be reduced by the per share amount of such dividend with effect from and after the &#147;ex-dividend&#148; date. The &#147;per share
amount&#148; of any dividend paid other than in cash shall be the fair market value of such dividend as determined by the Committee. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">4. <U>Effect on Vesting in Case of Termination of Services</U>. Notwithstanding Paragraph 3 above, the following special vesting rules shall apply if the
Unit Holder&#146;s service as an executive officer, employee or consultant terminates at any time prior to the First or Second Vesting Date (or, if earlier, May 31, 2005): </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) In the event that the Unit Holder&#146;s service is terminated due to the Unit Holder&#146;s death or Disability, the
Unit Holder or his estate shall retain the Units (and the Units shall vest in accordance with the terms of this Agreement if and when the Vesting Dates occur, but subject to the applicable Expiration Dates). </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) In the event that the Unit Holder&#146;s service is terminated by the
Company for Cause, or in the event of the Unit Holder&#146;s resignation without Good Reason, then the Unit Holder&#146;s unvested Units shall remain unvested, and concurrent with the effective date of such termination, the Unit Holder shall forfeit
all of the unvested Units. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) In the event that the Unit
Holder&#146;s service is terminated by the Company without Cause, or in the event of the Unit Holder&#146;s resignation for Good Reason, the Unit Holder shall retain the Units (and the Units shall vest in accordance with the terms of this Agreement
if and when the Vesting Dates occur, but subject to the applicable Expiration Dates). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(d) The terms &#147;<U>Cause</U>&#148;, &#147;<U>Disability</U>&#148; and &#147;<U>Good Reason</U>&#148; shall have the meanings set forth in the Employment Agreement (in the case of the termination of Unit
Holder&#146;s services as an executive officer or employee) or the Consulting Agreement (in the case of the termination of Unit Holder&#146;s services as a consultant). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">5. <U>Transferability</U>. Except as otherwise provided herein, the Unit Holder may not sell, transfer,
assign, pledge or otherwise encumber any of the Units or the rights granted hereunder (any such disposition or encumbrance being referred to herein as a &#147;<U>Transfer</U>&#148;). Any Transfer or purported Transfer by the Unit Holder of any of
the Units except in accordance herewith shall be null and void. Units are exercisable during the Unit Holder&#146;s lifetime. Notwithstanding the foregoing, Units may be Transferred (i) by law or pursuant to the laws of descent and distribution and
(ii) by the Unit Holder to a &#147;family member&#148; of such Unit Holder by gift or by domestic relations order, but subject to the continued application of the vesting requirements under this Agreement (including without limitation the continued
service by the Unit Holder as an executive officer, employee or consultant of the Company<B>)</B>. For purposes of this paragraph 5, &#147;<U>family member</U>&#148; means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Unit Holder&#146;s household (other than as a tenant or
employee), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or the Unit Holder) control the management of assets, and any other entity in which these persons (or the Unit
Holder) own more than fifty percent of the voting interests (each, a &#147;<U>Permitted Transferee</U>&#148;). In the case of any Transfer pursuant to this Paragraph 5, this Agreement shall be interpreted such that the term &#147;Unit Holder&#148;
shall mean the transferring Unit Holder and his Permitted Transferees (it being agreed that all of the obligations of the Unit Holder hereunder shall be allocated as appropriate between the transferring Unit Holder and his Permitted Transferee).
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">6. <U>Changes in Capitalization; Special Dividends; Sale of
the Company</U>. Upon the occurrence of any of the following events prior to the First Vesting Date or Second Vesting Date, the grants hereunder shall be adjusted as follows: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) In the event of any change in the capitalization of the Company which affects the Units (such as a stock dividend, a
stock distribution, a stock split, a subdivision or combination of shares, or a merger or consolidation to which the Company is a party, but excluding the sale, purchase or retirement by the Company of shares of Common Stock or securities
convertible into Common Stock or the issuance of shares of Common Stock or securities convertible into Common Stock), the Committee shall make or cause to be made any proportionate adjustments herein or otherwise necessary to reflect such change
with respect to the Units. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) Upon a Sale of the Company for
cash or other consideration which has a fair market value (as determined by the Compensation Committee) in excess of the First Strike Price, then the First Vesting Date shall occur upon the closing of such transaction (even if the closing stock
price has not exceeded the First Strike Price for 30 consecutive trading days) and the Payout Amount shall equal the per share value that the Company&#146;s stockholders receive in such transaction. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) Upon a Sale of the Company for cash or other consideration which has a fair market value (as
determined by the Compensation Committee) in excess of the Second Strike Price, then the First Vesting Date shall occur upon the closing of such transaction (if it has not occurred previously) and the Second Vesting Date shall occur upon the closing
of the transaction (even if the closing stock price has not exceeded the Second Strike Price for 30 consecutive trading days), and the Payout Amount shall equal the per share value that the Company&#146;s stockholders receive in such transaction.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(d) Upon a Sale of the Company which does not trigger the
First Vesting Date, the Unit Holder shall forfeit his right to the First Grant and Second Grant. Upon a Sale of the Company which triggers the First Vesting Date but not the Second Vesting Date, the Unit Holder shall forfeit his right to the Second
Grant. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For purposes of this Section 6, &#147;Sale of the Company&#148; means
(i) the sale of a majority of the outstanding Common Stock to a person or group in a single transaction or a series of related transactions, (ii) a merger or consolidation to which the Company is a party, other than a transaction in which the
holders of the Common Stock receive securities which represent a majority of the voting power of the surviving corporation, and (iii) any other transaction determined to be a sale of the Company by the Committee. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">7. <U>Rights Unfunded</U>. The Unit Holder understands that the rights
provided for hereunder are unfunded and the Company has not made, and has no obligation to make, any provision with respect to segregating assets of the Company for payment of any benefits hereunder. The Unit Holder further understands that he has
no interest in any particular asset of the Company by reason of this Agreement but only the rights of a general unsecured creditor with respect to his rights under this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">8. <U>No Rights as a Stockholder</U>. Neither the Unit Holder nor any other person legally entitled to the Units hereunder
shall have any rights of a stockholder by virtue of the grant and vesting of the Units. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">9. <U>Taxes</U>. As a condition precedent to this Agreement, the Unit Holder agrees to pay to the Company at such times as the Company shall determine such amounts as the Company shall deem necessary to satisfy any
withholding taxes due on income that the Unit Holder recognizes as a result of vesting or pay-out of the Units. The Committee shall have the power to withhold, or require the Unit Holder to remit to the Company, an amount sufficient to satisfy any
withholding or other tax due with respect to any Units and/or any amount payable hereunder, and the Committee may defer any such payments unless indemnified by the Unit Holder to such Committee&#146;s satisfaction. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">10. <U>Descriptive Headings; Interpretation of Agreement</U>. The descriptive
headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. Any questions which arise in connection with the interpretation or performance of this grant shall be resolved by the Committee
in its sole and absolute discretion. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">11. <U>Successors and Assigns</U>. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company and any person or persons who shall, upon the death of the Unit Holder acquire any rights hereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">12. <U>Further Assurances</U>. The parties agree to execute such further instruments and to take such further actions as may reasonably be required to
carry out the intent of this Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">13. <U>Notices</U>.
Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given when personally delivered or after five (5) business days following deposit in the United States Post Office, by certified mail with postage
and fees prepaid, return receipt requested. Notices shall be addressed, in the case of the Unit Holder, to the address set forth below his signature on the signature page hereto and in the case of the Company, to it at its principal executive
office, or at such other address as such party may designate by ten (10) days&#146; advance written notice to the other party. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">14. <U>Entire Agreement</U>. This Agreement, together with the Employment Agreement and the Consulting Agreement, constitute the entire agreement of the
parties with respect to the subject matter hereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">15.
<U>Governing Law</U>. The corporate law of the State of Delaware shall govern all questions concerning the relative rights of the Company and its shareowners. All other questions concerning the construction, validity and interpretation of this
Agreement shall be governed by the internal laws (and not the laws of conflicts) of the State of Illinois. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">16. <U>Termination</U>. This Agreement, and all rights and obligations hereunder, shall be null and void unless the Unit Holder shall accept the same
below and return this executed Agreement to the Chief Executive Officer of the Company at his office in Elk Grove Village, Illinois by May 7, 2004. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">* * * </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Dated as of the 5th day of May, 2004. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
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<TD VALIGN="bottom" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>MATERIAL SCIENCES CORPORATION</B></FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Ronald Stewart</FONT></P><HR WIDTH="97%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ronald Stewart</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Its: President and Chief Executive Officer</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman"
SIZE="2">Accepted this 5th day of </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2">May, 2004 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ James J. Waclawik, Sr.</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">James J. Waclawik, Sr.</FONT></P></TD></TR>
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SIZE="2">Notice Address: </FONT></P>
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