ORLEANS HOMEBUILDERS INC
EX-10.1
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a07-25133_1ex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT 10.1</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Orleans Homebuilders, Inc.<br>
Supplemental Executive Retirement Plan</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(Amended and Restated September 27, 2007, Effective as of September 1,
2005)</font></b></p>

<h2 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 1 - Statement of Purpose</font></u></b></h2>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Supplemental Executive Retirement Plan, as herein
amended and restated, is designed and implemented for the purpose of providing
to a limited group of key management or highly compensated employees of Orleans
Homebuilders, Inc. (the &#147;Company&#148;) who are largely responsible for the Company&#146;s
success the opportunity to receive supplemental executive retirement benefits,
thereby increasing the incentive of such key employees to remain in the employ
of the Company and to make the Company more profitable.&#160; Special payments shall be made to
Participants upon retirement or death and are intended to provide Participants
with additional financial security.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is the Employer&#146;s
intention that, for purposes of the Plan, all references to Section 409A of the
Internal Revenue Code of 1986, as amended (the &#147;Code&#148;) shall be deemed to include
any applicable regulations issued by the IRS and/or the Treasury Department
(including proposed, temporary and/or final regulations) and any guidance that
may be issued by the IRS and/or the Treasury Department interpreting such Code
Section from time to time.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 2 - Definitions</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Accrued Benefit&#148; means
a Participant&#146;s normal retirement benefit, as described in Section 5.1 hereof,
multiplied by a fraction, the numerator of which is the Participant&#146;s total
number of Years of Service with the Employer at the time of determination, and
the denominator of which is the aggregate number of Years of Service with the Employer
the Participant would have accumulated at his or her Normal Retirement Date.&#160; For purposes of the Plan and payment of any
benefits that are actuarially equivalent to a Participant&#146;s Accrued Benefit,
the Accrued Benefit shall be converted first to an Actuarial Equivalent present
value representing an amount that would be payable as a single lump sum being
the Actuarial Equivalent in value of the normal retirement benefit payable (to
the extent accrued as of any relevant date of determination) assuming for these
purposes payment would commence at age 65 as a monthly annuity for the life of
the Participant or for a period of ten years (one hundred twenty (120) months)
in the event the Participant&#146;s death occurs before the end of such ten year
period.&#160; Any such lump sum Actuarial
Equivalent shall then be converted into any permitted or required form of
benefit payment under the Plan (such converted benefit being the Actuarial
Equivalent in value of the Participant&#146;s Accrued Benefit stated as a lump sum
payment).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Actual Gross Investment Return&#148; means the actual investment return on
assets used by the Employer to informally fund the Plan, without reduction for cost
of insurance, separate account fees and charges, or mortality and expense
charges, and including mortality gains not distributed as survivor benefits to
Participants or their beneficiaries.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Actuarial Equivalent&#148;
means, with respect to a given benefit, any other benefit provided under the
terms of the Plan which has the same present or equivalent value on the date
the given </p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">benefit payment commences, as determined by the Employer
using reasonable actuarial assumptions.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Adjusted Target
Retirement Benefit&#148; means the Target Retirement Benefit adjusted each year pursuant
to Section 5.1 and which represents the actual retirement benefit to be paid a
Participant.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.5</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Administrator&#148; or &#147;Plan Administrator&#148;
means the Committee, and also any other person that may have been designated by
the Board or the Committee to take on any of the duties and/or responsibilities
of the Administrator under the terms of the Plan as its delegatee.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.6</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Beneficiary&#148; means any
person or persons designated by a Participant in writing on a form satisfactory
to the Employer.&#160; In the absence of any
living designated beneficiary, a deceased Participant&#146;s Beneficiary shall be
the deceased Participant&#146;s then living spouse, if any, for his or her life; if
none, or from and after such spouse&#146;s death, then the living children of the
deceased Participant, if any, in equal shares, for their joint and survivor
lives; and if none, or after their respective joint and survivor lives, the
estate of the deceased Participant.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.7</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Board&#148;
means the Board of Directors of the Employer.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.8</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Change
of Control&#148; means the first to occur of the following dates:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the date the
stockholders of the Employer (or the Board, if stockholder action is not
required) approve a plan or other arrangement pursuant to which the Employer
will be dissolved or liquidated; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the date the
stockholders of the Employer (or the Board, if stockholder action is not
required) approve a definitive agreement to sell or otherwise dispose of all or
substantially all of the assets of the Employer; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the date the
stockholders of the Employer (or the Board, if stockholder action is not
required) and the stockholders or equity holders of the other constituent
corporation, limited liability Employer, partnership or other business entity
(or its board of directors or other governing body or person if equity holder
action is not required) have approved a definitive agreement to merge or
consolidate the Employer with or into such other entity, other than, in either
case, a merger or consolidation of the Employer in which holders of shares of
the Employer&#146;s Common Stock immediately prior to the merger or consolidation
will have at least a majority of the voting power of the surviving entity&#146;s
equity securities immediately after the merger or consolidation, which voting
securities are to be held in the same proportion as such holders&#146; ownership of
Common Stock of the Employer immediately before the merger or consolidation; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the date any entity,
person or group, within the meaning of Section 13(d)(3) or Section 14(d)(2) of
the Exchange Act (other than (A) the Employer or any of its subsidiaries or any
employee benefit plan (or related trust) sponsored or maintained by the Employer
or any of its subsidiaries, (B) Jeffrey P. Orleans or family members of Jeffrey
P. Orleans (all such persons being referred to as &#147;Orleans Family Members&#148;),
(C) any entity a majority of the equity in which is owned by Orleans Family
Members, or (D) any trust as to which a majority of the beneficiaries are
Orleans Family Members), shall have become the beneficial owner of, or shall
have obtained voting control over, more than fifty percent (50%) of the
outstanding shares of the Employer&#146;s common stock or other voting equity securities.</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.9</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Committee&#148; means the
Board, or any committee (or committees) that may be authorized by the Board to
oversee, administer and amend the Plan.&#160;
The Board may, at any time and from time to time, modify the composition
of the Committee or designate one or more persons to serve as the Committee (or
as the Committee with respect to any designated group of Participants) at its
discretion.&#160; Any reference herein to the &#147;Committee&#148;
shall be deemed to be a reference to the Board when it acts as Administrator of
the Plan, and/or to such administrative committee or committees as may have
been established by the Board to administer the Plan in its stead.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.10</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Employer&#148; means Orleans
Homebuilders, Inc., a Delaware corporation, and, as applicable, any subsidiary
or affiliate of Orleans Homebuilders, Inc., to the extent any employee of such
subsidiary or affiliate has been designated as participating in this Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.11</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Disability&#148;
means a situation where a Participant (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment which can be expected
to result in death or can be expected to last for a continuous period of not
less than 12 months, receiving income replacement benefits for a period of not
less than 3 months under an accident, health or disability plan covering
employees of the Employer.&#160; The
Disability of a Participant shall be determined by a licensed physician
selected by the Employer.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.12</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Early
Retirement Date&#148; means the date on which a Participant attains age 55, with at
least five (5) years of Participation in the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.13</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Effective
Date&#148; means September 1, 2005.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.14</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Employee&#148;
means an employee of the Employer.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.15</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Employer&#148;
means the Employer and any successors that shall maintain this Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.16</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;High
Average Recognized Compensation&#148; means the average of the Employee&#146;s highest
five consecutive years&#146; Recognized Compensation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.17</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Normal
Retirement Date&#148; means the date on which a Participant attains age 65 with at
least five (5) years of Participation in the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.18</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Participant&#148;
means an Employee selected by the Committee for participation in the Plan in
accordance with Section 4 hereof, and who has not for any reason become
ineligible to participate further in this Plan.&#160;
An individual shall be deemed to continue as a Participant until all
benefits payable to the Participant under this Plan have been distributed.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.19</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Plan&#148;
means the Orleans Homebuilders, Inc. Supplemental Executive Retirement Plan as
contained in this document, including all amendments thereto.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.20</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Plan
Participation Agreement&#148; means a written agreement between a Participant and
the Employer in substantially the form attached hereto as Exhibit A.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.21</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Plan
Year&#148; means, in general, the twelve month period commencing on January 1 of
each year and ending the following December 31; provided, however, that the
initial Plan Year shall be the short period commencing on September 1, 2005 and
ending December 31, 2005.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.22</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Recognized
Compensation&#148; of a Participant means, for a Plan Year, the lesser of:&#160; (a) the Participant&#146;s Recognized Compensation
Cap (as hereinafter defined) for such Plan Year and </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)
the Participant&#146;s annual salary in effect for such Plan Year plus the
Participant&#146;s Recognized Bonus (as hereinafter defined).&#160; With respect to the first Plan Year, a
Participant&#146;s Recognized Compensation shall be his or her annual salary payable
for 2005 plus the annual bonus, if any, which such Participant was paid during
2005.&#160; Notwithstanding anything to the
contrary in this definition of Recognized Compensation:&#160; (a) no amount earned or paid as a result of
an &#147;earn-out&#148; or similar arrangement entered into by the Employer in the
connection with the Employer&#146;s acquisition of any business, business entity or
assets, whether by way of asset purchase, equity purchase, merger or otherwise,
shall be included in any Participant&#146;s Recognized Compensation.&#160; The &#147;Recognized Compensation Cap&#148; for the
Plan Year ending December 31, 2005 shall be $1,200,000.&#160; For each Plan Year ending after December 31,
2005, the Recognized Compensation Cap shall be increased by 4% on a cumulative
basis.&#160; A Participant&#146;s &#147;Recognized Bonus&#148;
shall be determined as of any applicable date as follows:&#160; For any Participant whose regular bonus is
payable as an annual bonus, such Participant&#146;s Recognized Bonus shall be the
Participant&#146;s most recent annual bonus awarded (whether or not actually paid)
to such Participant; provided, however, that in the event the Participant&#146;s
most recent bonus payment would normally have been awarded prior to the date
the Recognized Bonus is being calculated (under the Employer&#146;s general bonus
arrangements), but no such annual bonus was actually awarded to such
Participant because a determination was made that no bonus should be paid for
the relevant fiscal year, the Recognized Bonus for such Participant shall be
$0.&#160; For any Participant whose regular
bonus is payable more frequently than annually, such Participant&#146;s Recognized
Bonus for a Plan Year shall be the amount of such Participant&#146;s regular bonuses
awarded (whether or not actually paid) to such Participant during the Employer&#146;s
most recent prior fiscal year.&#160; In
addition to the foregoing, the Committee may, at its discretion, include other
amounts paid or payable as bonus compensation for a Participant as part of such
Participant&#146;s Recognized Bonus for a Plan Year.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;">2.23</font></i><font size="1" style="font-size:8.5pt;font-style:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-style:normal;">&#147;Target Gross Investment
Return&#148; means the projected investment return on assets used by the Employer to
informally fund the Plan, without reduction for cost of insurance, separate
account fees and charges, or mortality and expense charges, and including
mortality gains not distributed as survivor benefits to Participants or their
beneficiaries.&#160; The Target Gross
Investment Return is 8%.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;">2.24</font></i><font size="1" style="font-size:8.5pt;font-style:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-style:normal;">&#147;Target Retirement Benefit&#148;
means the annual target retirement benefit for each Participant calculated
pursuant to Section&nbsp;5.1.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.25</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Year
of Future Service&#148; means a Year of Service completed after an individual became
a Participant in the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.26</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Year of Prior Service&#148;
means a Year of Service completed before an individual became a Participant in
the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.27</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#147;Year of Service&#148; means a
period of twelve consecutive months during which a Participant is employed by the
Employer.&#160; Unless otherwise provided in
his or her Plan Participation Agreement, in determining a Participant&#146;s Years
of Service, he or she shall receive credit for service from and after his or
her most recent employment commencement date.&#160;
For purposes of any calculations required to be made under the Plan
involving Years of Service, including Years of Future Service and Years of
Prior Service, a partial Year of Service shall be taken into account.&#160; This shall be done by treating such partial
Year of Service as a fraction of a Year of Service, the numerator of which is
the number of full months of employment of the Participant for such partial
Year of Service, and the denominator of which is twelve (12).</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 3
&#150; Plan Administration</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;">3.1</font></i><font size="1" style="font-size:8.5pt;font-style:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-style:normal;font-weight:bold;">POWERS
AND DUTIES OF THE ADMINISTRATOR</u></b><font style="font-style:normal;">.&#160; </font><font style="font-style:normal;">The Committee shall be the Plan Administrator, and shall
administer the Plan for the exclusive benefit of the Participants and their
Beneficiaries, subject to the specific terms of the Plan.&#160; The Administrator shall administer the Plan
in accordance with its terms and shall have the power and discretion to
construe the terms of the Plan and to determine all questions arising in
connection with the administration, interpretation, and application of the
Plan. &#160;The Administrator may establish
procedures, correct any defect, supply any information, or reconcile any inconsistency
in such manner and to such extent as shall be deemed necessary or advisable to
carry out the purpose of the Plan; provided, however, that any procedure,
discretionary act, interpretation or construction shall be done in a
nondiscriminatory manner based upon uniform principles consistently applied. &#160;The Administrator shall have all powers
necessary or appropriate to accomplish its duties under this Plan and shall
also have the express authority to delegate its duties and obligations
hereunder to such person or persons as the Committee deems appropriate.</font></p>

<p style="font-style:italic;margin:0pt 0pt 12.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:normal;">The
Administrator shall be charged with the duties of the general administration of
the Plan, including, but not limited to, the following:</font></i></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The discretion to
determine all questions relating to the eligibility of Employees to participate
or remain a Participant hereunder and to receive benefits under the Plan;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To compute and make
determinations with respect to the amount of benefits to which any Participant
shall be entitled hereunder;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To authorize and make
nondiscretionary or otherwise directed disbursements to Participants;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To maintain all
necessary records for the administration of the Plan;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To interpret the
provisions of the Plan and to make and publish such rules for the regulation of
the Plan as are consistent with the terms hereof;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To prepare and
implement a procedure to notify employees that they have been selected as
eligible to participate in the Plan;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To assist any
Participant regarding his rights, benefits, or elections available under the
Plan.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Employer shall
indemnify, hold harmless and defend the Administrator from any liability which
the Administrator may incur in connection with the performance of his or her
duties in connection with this Plan, so long as the Administrator was acting in
good faith and within what the Administrator reasonably understood to be the
scope of his or her duties.</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2 </font><font size="1" face="Times New Roman" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font face="Times New Roman" style="font-weight:bold;">RECORDS AND REPORTS</font></u></b><font face="Times New Roman">.</font><font face="Times New Roman">&#160; The Administrator shall keep a record of all
actions taken and shall keep all other books of account, records, and other
data that may be necessary for proper administration of the Plan and shall be
responsible for supplying all information and reports to the Employer,
Participants and Beneficiaries.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PARTICIPANT
STATEMENT</u></b>.&#160; The
Administrator shall provide each Participant each Plan Year a statement
indicating that Participant&#146;s current and projected retirement benefit under
the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">INFORMATION
FROM EMPLOYER</u></b>.&#160; To enable the Administrator to perform
his functions, the Employer shall supply full and timely information to the
Administrator on all </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">matters relating to the compensation of all
Participants, their retirement, death, disability, or termination of
employment, and such other pertinent facts as the Administrator may
require.&#160; The Administrator may rely upon
such information as is supplied by the Employer and shall have no duty or
responsibility to verify such information.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.5</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">CLAIMS
PROCEDURE</u></b>.&#160; Claims for
benefits under the Plan may be filed with the Administrator on forms supplied by
the Employer. Written or electronic notice of the disposition of a claim shall
be furnished to the claimant within 90 days after the claim is filed.&#160; If additional time (up to 90 days) is
required by the Administrator to process the claim, written notice shall be
provided to the claimant within the initial 90 day period.&#160; The extension notice shall indicate the
special circumstances requiring an extension of time and the date by which the
Administrator expects to render a determination.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the event the claim is denied in whole or in part, the
notice shall set forth in language calculated to be understood by the claimant
(i) the specific reason or reasons for the denial, (ii) specific reference to
pertinent Plan provisions on which the denial is based, (iii) a description of
any additional material or information necessary for the claimant to perfect
the claim and an explanation of why such material or information is necessary,
and (iv) a description of the Plan&#146;s review procedures and the time limits
applicable to such procedures, including&#160;
a statement of the claimant&#146;s right, if any, to bring a civil action
under section 502(a) of the Employee Retirement Income Security Act of 1974, as
amended (&#147;ERISA&#148;), following an adverse benefit determination on review.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.6</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">CLAIMS
REVIEW PROCEDURE</u></b>.&#160; Any Employee, former Employee, or Beneficiary
who has been denied a benefit by a decision of the Administrator pursuant to
Section 3.5 shall be entitled to request the Administrator to give further
consideration to his claim by filing with the Administrator a request for a
hearing.&#160; Such request, together with a
written statement of the reasons why the claimant believes his claim should be
allowed, shall be filed with the Administrator no later than 60 days after
receipt of the written notification provided for in Section 3.5.&#160; The claimant shall be provided, upon request
and free of charge, reasonable access to, and copies of, all documents, records
and other information relevant to the claimant&#146;s claim for benefits.&#160; The Administrator shall then conduct a
hearing within the next 60 days, at which the claimant shall have an
opportunity to submit comments, documents, records and other information
relating to the claim without regard to whether such information was submitted
or considered in the initial benefit determination.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Administrator shall make a final decision as to
the allowance of the claim within 60 days of receipt of the appeal (unless
there has been an extension due to special circumstances, provided the delay and
the special circumstances occasioning it are communicated to the claimant in
writing within the 60 day period), and a decision shall be rendered as soon as
possible but not later than 120 days after receipt of the request for review;
provided, however, in the event the claimant fails to submit information
necessary to make a benefit determination on review, such period shall be
tolled from the date on which the extension notice is sent to the claimant
until the date on which the claimant responds to the request for additional
information.&#160; The decision on review
shall be written or electronic and, in the case of an adverse determination,
shall include specific reasons for the decision, in a manner calculated to be
understood by the claimant, and specific references to the pertinent Plan
provisions on which the decision is based.&#160;
The decision on review shall also include (i) a statement that the
claimant is entitled to receive, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant
to the claimant&#146;s claim for benefits, and (ii) a statement describing any </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">voluntary appeal procedures offered by the Plan, and a
statement of the claimant&#146;s right, if any, to bring an action under Section
502(a) of ERISA and shall include specific reasons for the decision and
specific references to the pertinent Plan provisions on which the decision is
based.</font></p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 4
- Eligibility and Participation</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">ELIGIBILITY</u></b>.&#160; The Committee, in its sole discretion, shall
select the Employees of the Employer who are eligible to become Participants
and shall determine whether the Participant shall be classified as a Tier 1 or
Tier 2 Participant.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PARTICIPATION</u></b>.&#160; The Committee shall notify those Employees
selected for participation in the Plan and the level of benefits to which the
Employee is entitled under this Plan.&#160; An
eligible Employee becomes a Participant in the Plan upon the execution and
delivery by him or her and the Employer of a Plan Participation Agreement.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 5
- Retirement Benefit</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">ADJUSTED
TARGET RETIREMENT BENEFIT</u></b>.&#160;
If a Participant is employed by the Employer until his or her Normal
Retirement Date, such Participant may retire and receive his or her Adjusted
Target Retirement Benefit, determined as set forth below in this Section 5.1,
and subject to adjustment to take into account the 5-year moving average of
Actual Gross Investment Return, also as set forth below in this Section 5.1;
provided, however, that commencement of payment of the Participant&#146;s benefit
under this Section 5.1 may not begin until 60 days after the date the
Participant furnishes notice to the Committee of his or her intent to retire,
and subject to any additional delay as may be required pursuant to Section 5.9
of the Plan:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tier 1 Participants</font></u>&#160;&#160;&#160;&#160; The annual Target Retirement Benefit for a
Tier 1 Participant shall be an amount equal to .50% for each Year of Prior
Service (to a maximum of 20 Years of Prior Service) plus 1% for each Year of
Future Service, multiplied by the Participant&#146;s High Average Recognized
Compensation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tier 2 Participants</font></u>&#160;&#160;&#160;&#160; The annual Target Retirement Benefit for a
Tier 2 Participant shall be an amount equal to .50% for each Year of Prior
Service (to a maximum of 20 Years of Prior Service) plus .75% for each Year of
Future Service, multiplied by the Participant&#146;s High Average Recognized
Compensation.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A Participant&#146;s Adjusted
Target Retirement Benefit for benefits to be paid in a Plan Year (or any
portion thereof) shall be determined by adjusting the Participant&#146;s Target
Retirement Benefit to reflect any difference between (1) the 5-year moving
average at the beginning of such Plan Year of the annual Actual Gross
Investment Return and (2) the Target Gross Investment Return of 8%.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For example, if a
Participant&#146;s annual Target Retirement Benefit is $100,000 and at the beginning
of Plan Year 1 the 5-year moving average of the annual Actual Gross Investment
Return is 9%, the Adjusted Target Retirement Benefit for Plan Year 1 would be
$112,500 (9% is 112.5% of 8%.&#160; 112.5% of $100,000
is $112,500.)&#160; If at the beginning of
Plan Year 2 the 5-year moving average of the annual Actual Gross Investment
Return is 7.5%, the Adjusted Target Retirement Benefit for Plan Year 2 would be
$93,750 (7.5% is 93.75% of 8%.&#160; 93.75% of
$100,000 is $93,750.)</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PAYMENT
OF RETIREMENT BENEFIT</u></b>.&#160; The
Adjusted Target Retirement Benefit as determined for each Plan Year shall be
payable in equal monthly installments commencing on the first day of the month
following the Participant&#146;s actual retirement (or such later date as may </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">be required
pursuant to Section 5.1 or Section 5.9) and continuing for the remainder of the
Participant&#146;s life<i>.</i></font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">EARLY
RETIREMENT BENEFIT</u></b>.&#160; If a
Participant is employed by the Employer until his or her Early Retirement Date,
he or she, with the express written consent of the Committee, shall be entitled
to receive as an annual early retirement benefit an amount (1) calculated as if
Participant&#146;s Early Retirement Date was in fact Participant&#146;s Normal Retirement
Date and (2) actuarially reduced so that such early retirement benefit is the
Actuarial Equivalent of his or her normal retirement benefit, taking into
account commencement of such benefit before reaching age 65.&#160; This early retirement benefit shall be
payable in equal monthly installments commencing on the first day of the month
following the Participant&#146;s actual retirement (or such later date as may be
required pursuant to Section 5.9) and continuing for the remainder of the
Participant&#146;s life.&#160; In the event any Participant
retires or the Participant&#146;s employment otherwise terminates before attaining
his or her Normal Retirement Date (other than by reason of the Participant&#146;s
death or Disability) without having obtained the Committee&#146;s express written
consent to an early retirement benefit, such Participant shall forfeit entirely
all benefits payable under the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">DEATH
AFTER RETIREMENT</u></b>.&#160; If a
Participant should die after retirement and prior to the completion of one
hundred twenty (120)<i>  </i>monthly
payments, such monthly payments shall be continued to the Participant&#146;s
Beneficiary until the completion of a combined total of one hundred twenty (120)
monthly payments; provided, however, that this Section 5.4 shall not be
applicable to the extent an alternate form of payment has been elected under
Section 5.5, in which case the terms of such alternate form of payment shall
control.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.5</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">ALTERNATE
FORM OF PAYMENT</u></b>.&#160; The Employer
may, in its sole and absolute discretion, approve a retiring Participant&#146;s
request of an alternate form of payment of the benefit; provided, however, that
any such alternate form of payment shall be subject to Section 5.9 hereof
(requiring compliance with Code Section 409A) and shall be the Actuarial
Equivalent of the benefit otherwise payable hereunder.&#160; By way of example, it is anticipated that
a&#160; Participant may request a benefit in
the form of joint and survivor annuity with his or her spouse, in lieu of the
single life annuity normally paid under the terms of the Plan.&#160; Any such election to modify the form of
annuity would be subject to the consent of the Committee, and would be given
effect only to the extent such change is consistent with the provisions of
Treasury Regulation Section 1.409A-2(b)(2)(ii) (or any successor regulation or
other IRS guidance) treating certain changes in life annuity forms as not being
a change in time and form of payment, or as an otherwise permitted subsequent
deferral of the benefit commencement date for a period of not less than five
years and the election for such deferral is made at least 12 months before the
benefits would otherwise have commenced.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.6</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">DEATH WHILE EMPLOYED AFTER NORMAL RETIREMENT DATE</u></b>.&#160; A Participant whose employment with the Employer
continues after his or her Normal Retirement Date and who dies while so
employed shall be deemed to have retired immediately prior to such Participant&#146;s
death.&#160; As a consequence, the benefit
payable upon the Participant&#146;s death under these circumstances shall be
calculated as though such Participant had retired and become entitled to an
annuity payable for the Participant&#146;s lifetime, followed immediately by such
Participant&#146;s death, following which a benefit equal to such Participant&#146;s
monthly retirement benefit is payable to such Participant&#146;s Beneficiary in the
form of one hundred twenty (120)<i>  </i>monthly
payments, consistent with Section 5.4, above.</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.7</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">FORFEITURE
OF BENEFITS</u></b>.&#160; Except as
otherwise expressly provided herein, if a Participant terminates employment
with the Employer prior to attaining his or her Normal Retirement Date, other
than by reason of Early Retirement, death or Disability, such Participant shall
not be entitled to any benefits under this Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.8</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">WITHHOLDING TAXES</u></b>&#160; Employer
shall deduct from any payment of benefits the amount of any federal, state or
local income or employment taxes required to be withheld or paid with respect
to the distribution.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.9</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">COMPLIANCE WITH CODE SECTION 409A</u></b>.&#160; Notwithstanding anything contained herein to
the contrary, no distribution of benefits shall be made to any Participant if
such distribution would violate the provisions of Code Section 409A(a)(2).&#160; As a consequence, no distribution of any
portion of a Participant&#146;s Accrued Benefit under the Plan may be made by reason
of such Participant&#146;s termination of employment until the date that is six
months after such Participant&#146;s termination of employment if such Participant
was a &#147;specified employee&#148; (as hereinafter defined) as of the date of his or
her termination of employment, to the extent required to comply with Code
Section 409A(a)(2)(B)(i) and Treasury Regulation Section 1.409A-3(i)(2).&#160; For these purposes, the term &#147;specified
employee&#148; shall have the meaning set forth in Code Section 409A(a)(2)(B)(i) and
Treasury Regulation Section 1.409A-1(i).&#160;
Any amounts distributed on a deferred basis shall then be paid with
interest calculated using the interest or discount rate generally in use for
purposes of determining Actuarial Equivalent values under the Plan.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 6
&#150; Pre-Retirement Survivor Benefit</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PRE-RETIREMENT
SURVIVOR BENEFIT</u></b>.&#160; If a
Participant dies while employed by the Employer prior to his or her Normal
Retirement Date, the Employer shall pay to the deceased Participant&#146;s
Beneficiary, as a survivor benefit, and as the only benefit payable under this
Plan with respect to such Participant, (1) an amount equal to one hundred
percent (100%) of the Participant&#146;s Death Benefit Recognized Compensation (as
hereinafter defined) determined as of the date of such Participant&#146;s death in a
lump sum as soon as practicable following the Participant&#146;s Death, and (2) an
amount equal to fifty percent (50%) of such initial payment as soon as
practicable following each of the next four anniversaries of the Participant&#146;s
date of death.&#160; Benefits under this
Section 6.1 shall not be payable to a Participant qualifying under Section 5.6.&#160; A Participant&#146;s &#147;Death Benefit Recognized
Compensation&#148; shall mean, in general, the average of the Participant&#146;s
Recognized Compensation determined with respect to the Plan Year in which the
Participant&#146;s death occurred (determined as of the date of the Participant&#146;s
death) and the Participant&#146;s Recognized Compensation for each of the two
preceding Plan Years (determined in each case taking into account base salary
for each of such preceding Plan Years, and the Participant&#146;s bonuses determined
in the same manner as determined for purposes of determining such Participant&#146;s
Recognized Compensation for the year of the Participant&#146;s death.&#160; For purposes of determining a Participant&#146;s
Death Benefit Recognized Compensation where the Participant has not been a
Participant for a full three years, the Participant&#146;s Recognized Compensation
shall be determined as an average based on the Participant&#146;s years of
participation in the Plan only.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 7
- Disability Benefit and Authorized Leave of Absence</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">DISABILITY
BENEFIT</u></b>.&#160; Notwithstanding
anything to the contrary herein, if a Participant&#146;s employment with the Employer
is terminated prior to attaining his or her Normal Retirement Date as a result
of the Participant&#146;s Disability, then, for purposes of this Plan, it shall </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">be deemed that the
Participant has remained in the employ of the Employer until the earliest to
occur of: (a) the Participant&#146;s death; (b) the Participant&#146;s attaining age 65;
or (c) the cessation of the Participant&#146;s Disability and the failure of the
Participant to return to active employment with the Employer within a
reasonable time after recovery from the Disability.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">AUTHORIZED
LEAVE OF ABSENCE</u></b>.&#160; A
Participant&#146;s employment with the Employer shall not be deemed to have
terminated for purposes of this Plan during any authorized leave of absence
except to the extent otherwise required to be treated as a termination of
employment for purposes of Code Section 409A.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 8
- Employer-Owned Life Insurance (&#147;COLI&#148;)</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">EMPLOYER </u></b><b><u style="font-weight:bold;">OWNS ALL
RIGHTS</u></b>.&#160; In the event
that, in its discretion, the Employer purchases a life insurance policy or
policies insuring the life of any Participant to allow the Employer to
informally finance and/or recover, in whole or in part, the cost of providing
the benefits hereunder, neither the Participant nor any Beneficiary shall have
any rights whatsoever therein.&#160; The Employer
shall be the sole owner and beneficiary of any such policy or policies and
shall possess and may exercise all incidents of ownership therein, except in
the event of the establishment of and transfer of said policy or policies to a
trust by the Employer as described in Section 12 hereof.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PARTICIPANT
COOPERATION</u></b>.&#160; If the Employer
decides to purchase a life insurance policy or policies on any Participant, the
Employer will so notify such Participant.&#160;
Such Participant shall consent to being insured for the benefit of the Employer
and shall take whatever actions may be necessary to enable the Employer to
timely apply for and acquire such life insurance and to fulfill the
requirements of the insurance carrier relative to the issuance thereof as a
condition of eligibility to participate in the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PARTICIPANT
MISREPRESENTATION</u></b>.&#160; If:
(a) any Participant is required by this Plan to submit information to any
insurance carrier; and (b) the Participant makes a material misrepresentation
in any application for such insurance; and (c) as a result of that material
misrepresentation the insurance carrier is not required to pay all or any part
of the proceeds provided under that insurance, then the Participant&#146;s (or the
Participant&#146;s Beneficiary&#146;s) rights to any benefits under this Plan may be, at
the sole discretion of the Committee, reduced to the extent of any reduction of
proceeds that is paid by the insurance carrier because of such material
misrepresentation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">SUICIDE</u></b>.<b>&#160; </b>Notwithstanding
any other term or provision of the Plan or the Plan Participation Agreement, if
a Participant dies by reason of suicide and if the Employer&#146;s receipt of
insurance proceeds is as a result reduced, then the Participant&#146;s (or the
Participant&#146;s Beneficiary&#146;s) rights to any benefits under this Plan may be, at
the sole discretion of the Committee, reduced to the extent of any reduction of
proceeds that is paid by the insurance carrier.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 9
- Administrator</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">RESIGNATION</u></b>.<b>&#160; </b>Any person or entity who has been
designated to act as the Plan Administrator or who is a member of the Committee
may resign from such position at any time by written notice to the Committee,
which shall be effective thirty (30) days after receipt of such notice or such
earlier date as agreed to by the Administrator and the Committee.</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">REMOVAL</u></b>.<b>&#160; </b>Any person or entity who has been
designated to act as the Plan Administrator or who is a member of the Committee
may be removed from such position by the Committee or the Board with or without
advance notice.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">APPOINTMENT OF SUCCESSOR</u></b>.<b>&#160; </b>If the Administrator
resigns or is removed, a successor shall be appointed, in accordance with
Section 9.4, by the effective date of resignation or removal under this Section
9.&#160; If no such appointment has been made,
the Administrator may apply to a court of competent jurisdiction for
appointment of a successor or for instructions.&#160;
All expenses of the Administrator in connection with the proceeding
shall be allowed as administrative expenses of the Employer.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">SUCCESSOR ADMINISTRATOR</u></b>.<b>&#160; </b>If any person or
entity who has been designated to act as the Plan Administrator or who is a
member of the Committee resigns or is removed in accordance with Section 9.1 or
9.2, the Committee may appoint any other person as successor Administrator or
Committee member.&#160; The appointment shall
be effective when accepted in writing by the new Administrator.&#160; The new Administrator or Committee member shall
have all of the rights and powers of the former Administrator or Committee
member, as the case may be.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 10-
Amendment and Termination</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">AMENDMENT</u></b>.<b>&#160; </b>The Employer shall have the right
at any time to amend or terminate this Plan.&#160;
However, no amendment shall be effective so as to reduce the amount of
any Participant&#146;s Accrued Benefit, or to delay the payment of any amount to a
Participant beyond the time that such amount would be payable without regard to
such amendment.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">CESSATION
OF ACCRUAL OF BENEFITS</u></b>.<b>&#160; </b>The Employer shall
have the right at any time to notify the Participants that benefits will no
longer accrue under the Plan.&#160; Upon any
such notice, retirement benefits payable to a Participant shall be based on the
Participant&#146;s Accrued Benefit at the date of the notice referred to in the
preceding sentence.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">TERMINATION</u></b>.&#160; The Employer shall have the right to
terminate the Plan and distribute as a lump sum payment to each Participant an
amount that constitutes the Actuarial Equivalent of the Participants Accrued
Benefit calculated as of the date the Plan is terminated; provided, however,
that any such termination of the Plan shall be implemented in a manner that
complies with Code Section 409A.&#160;
Participants understand that in the event the Plan is terminated, the
Participants may receive a distribution of their Accrued Benefit at a date that
is earlier than would have been the case had the termination of the Plan not
occurred, and the distribution may be made in a form that differs from the form
of distribution that would have been in effect if the Plan had not been
terminated.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section
11 &#150;Miscellaneous</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">NONALIENATION
OF BENEFITS</u></b>.<b>&#160; </b>No right or benefit under this
Plan shall be subject to anticipation, alienation, sale, assignment, pledge,
encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign,
pledge, encumber, or charge any right or benefit under this Plan or any Plan
Participation Agreement shall be void.&#160;
No such right or benefit shall in any manner be liable for or subject to
the debts, contracts, liabilities or torts of the person entitled thereto.&#160; No amount of the benefit will, prior to
payment, be subject to garnishment, attachment, execution or levy of any kind,
and will not be transferable by operation of law in the event of the
bankruptcy, insolvency or death of the employee.&#160; If a Participant or any Beneficiary hereunder
shall become bankrupt, or attempt to anticipate, alienate, sell, assign,
pledge, encumber, or charge any right hereunder, then such right or benefit
shall, in the discretion of the Committee, </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='11',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">cease and
terminate, and in such event, the Committee may hold or apply the same or any
part thereof for the benefit of the Participant or his or her Beneficiary,
spouse, children, or other dependents, or any of them in such manner and in
such amounts and proportions as the Committee may deem proper.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">UNSECURED
LIABILITY</u></b>.<b>&#160; </b>The obligation of the Employer to
make payments hereunder to a Participant shall constitute an unsecured
liability of the Employer.&#160; Such payments
shall be made from the general funds of the Employer and the Employer shall not
be required to establish or maintain any special or separate fund, to purchase
or acquire life insurance on a Participant&#146;s life, or otherwise to segregate
assets to assure that such payments shall be made.&#160; Neither a Participant nor any other person
shall have any interest in any particular asset of the Employer by reason of
its obligations hereunder and the right of any of them to receive payments
under this Plan shall be no greater than the right of any other unsecured
general creditor of the Employer.&#160;
Nothing contained in the Plan shall create or be construed as creating a
trust of any kind or any other fiduciary relationship between the Employer and
a Participant or any other person.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">NO
CONTRACT OF EMPLOYMENT</u>&#160; </b>This
Plan shall not be deemed to constitute a contract between the Employer and any
Participant or to be a consideration or an inducement for the employment of any
Participant or Employee. &#160;Nothing
contained in this Plan shall be deemed to give any Participant or Employee the
right to be retained in the service of the Employer or to interfere with the
right of the Employer to discharge any Participant or Employee at any time
regardless of the effect which such discharge may have upon him or her as a
Participant of this Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">DESIGNATION
OF BENEFICIARY</u></b>.<b>&#160; </b>Each Participant shall file with the
Administrator a notice in writing, in a form acceptable to it, designating one
or more Beneficiaries to whom payments becoming due by reason of or after his
or her death shall be made.&#160; Participants
shall have the right to change the Beneficiary or Beneficiaries so designated from
time to time; provided, however, that no such change shall become effective
until received in writing and acknowledged by the Administrator.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.5</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PAYMENT
TO INCOMPETENTS</u></b>.<b>&#160; </b>The Employer shall make the
payments provided herein directly to the Participant or Beneficiary entitled thereto
or, if such Participant or Beneficiary has been determined by a court of
competent jurisdiction to be incompetent, then payment shall be made to the
duly appointed guardian, committee or other authorized representative of such
Participant or Beneficiary.&#160; The Employer
shall have the right to make payment directly to a Participant or Beneficiary
until it has received actual notice of the physical or mental incapacity of
such Participant or Beneficiary and actual notice of the appointment of a duly
authorized representative of his or her estate.&#160;
Any payment to or for the benefit of a Participant or Beneficiary shall
be a complete discharge of all liability of the Employer therefore.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.6</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">INTERPRETATION</u></b>.<b>&#160; </b>The interpretation
and construction of the Plan by the Administrator, and any action taken
hereunder, shall be binding and conclusive upon all parties in interest.&#160; The Administrator shall not be liable to any
person for any action taken or omitted to be taken in connection with the
interpretation, construction or administration of the Plan, so long as such
action or omission be made in good faith.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.7</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">AUTHORITY
TO APPOINT A COMMITTEE</u></b>.<b>&#160; </b>The Board, within its discretion,
shall have the authority to appoint a Committee of one (1) or more of its
members, or other person or persons, which shall have authority over the Plan (or
a portion of the Plan) in lieu of </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the entire Board.&#160; Unless otherwise determined by the Board, the
Employer&#146;s Compensation Committee shall serve as the Committee.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.8</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">AUTHORITY
TO ESTABLISH A TRUST</u></b>.<b>&#160; </b>The Committee shall have the right
at any time to establish a trust to which the Employer may transfer from time
to time certain assets to be used by said trustee(s) to satisfy some or all of the
Employer&#146;s obligations and liabilities under the Plan.&#160; All assets held by such trust shall be
subject to the claims of the Employer&#146;s creditors in the event of the Employer&#146;s
Insolvency (as defined herein).&#160; The Employer
shall be considered &#147;Insolvent&#148; for purposes of said trust if: (a) the Employer
is unable to pay its debts as they become due; or (b) the Employer is subject
to a pending proceeding as a debtor under the United States Bankruptcy Code.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.9</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">PREPAYMENT</u></b>.<b>&#160; </b>The Committee may,
in its sole and absolute discretion, prepay all or any part of the monthly
installments remaining to be paid to a Participant or Beneficiary under this
Plan.&#160; The amount of such prepayment
shall equal the Actuarial Equivalent of the remaining monthly installments
being prepaid, as determined by the Board in its discretion, and receipt
thereof by the Participant or Beneficiary shall be in full satisfaction of those
obligations of the Employer under the Plan and applicable Plan Participation
Agreement.&#160; Notwithstanding the
foregoing, any such prepayment right shall be subject to compliance with Code
Section 409A and Section 5.9 of the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.10</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">BINDING
EFFECT</u></b>.<b>&#160; </b>Obligations incurred by the Employer
pursuant to this Plan shall be binding upon and inure to the benefit of the Participant,
his or her Beneficiaries, personal representatives, heirs, and legatees.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.11</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">ENTIRE
PLAN</u></b>.<b>&#160; </b>This document and any amendments
hereto contain all the terms and provisions of the Plan and shall constitute
the entire Plan, any other alleged terms or provisions being of no effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.12</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">MERGER,
CONSOLIDATION OR ACQUISITION</u></b>.<b>&#160; </b>In the event of a merger or
consolidation of the Employer with another corporation or entity, or the sale
or lease of all or substantially all of the Employer&#146;s assets to another
corporation or entity, or the acquiring by another corporation or entity of a
right to elect at majority of the Board, then and in such event the obligations
and responsibilities of the Employer under this Plan shall be assumed by any
such successor or acquiring corporation or entity, and all of the rights,
privileges and benefits of the Participants hereunder shall continue.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.13</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">SPECIAL
PROVISIONS ON THE OCCURRENCE OF A CHANGE OF CONTROL</u>.&#160; </b>In the event there is a Change of
Control, the following provisions shall apply upon and after the Change of
Control and not withstanding anything to the contrary set forth in the Plan,
the applicability of following provisions shall be subject in all cases to
compliance with Code Section 409A and Section 5.9 of the Plan:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each Participant shall
be fully vested in his or her Accrued Benefit under the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Following a Change of
Control, a Participant&#146;s Early Retirement Date and/or Normal Retirement Date
shall be the date on which the Participant attains age 55 or age 65,
respectively, without regard to whether the Participant has five (5) years of
Participation in the Plan.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any Participant who
remains employed through his or her Early Retirement Date and who retires or
terminates from employment with the Employer for any reason other </p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='13',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">than death shall
receive an early retirement benefit calculated as provided in Section 5.3, or a
normal retirement benefit calculated as provided in Section 5.1, as the case
may be.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any Participant who
terminates his or her employment with the Employer for any reason other than
death prior to attaining his or her Early Retirement Date shall receive an
early retirement benefit commencing as of the first day of the month following
his or her attainment of age 55 payable as described in Section 5.3 (early
retirement benefit) and being the Actuarial Equivalent of his or her Accrued
Benefit (determined as of the date of such Participant&#146;s termination of
employment).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event a
Participant terminates his or her employment with the Employer for any reason
other than death prior to attaining his or her Early Retirement Date and such
Participant then dies prior to attaining his or her Early Retirement Date, the
Participant&#146;s Beneficiary shall be entitled to payment of a lump sum death
benefit equal to the Actuarial Equivalent value of such Participant&#146;s Accrued
Benefit (determined as of the date of such Participant&#146;s termination of
employment).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event a
Participant&#146;s employment with the Employer terminates by reason of such
Participant&#146;s death, the Participant&#146;s Beneficiary shall be entitled to a death
benefit as determined pursuant to Section 6.1 of the Plan (Pre-Retirement
Survivor Benefit).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Employer shall
establish a grantor trust (the &#147;Rabbi Trust&#148;) using a trust agreement that is
substantially in the form published by the IRS as a model trust agreement in
Revenue Procedure 92-64, containing provisions requiring the trustee to use the
assets of such trust to pay Participants&#146; benefits under the Plan, except as
otherwise required in the event of the Employer&#146;s bankruptcy or insolvency, and
shall transfer to the Rabbi Trust any and all life insurance policies acquired
in connection with the Plan (as generally described in Section 8, above), and
shall further contribute such additional funds to the Rabbi Trust if necessary
so that the assets of the Rabbi Trust may be certified by an enrolled actuary
who has satisfied the qualifications set forth in the regulations of the Joint
Board for the Enrollment of Actuaries and who has been approved by the Joint Board
to perform actuarial services under the Employee Retirement Income Security Act
of 1974, as amended (or an actuary having comparable qualifications) as being
sufficient to pay all of the benefits accrued under the Plan as of such date
using reasonable actuarial assumptions.&#160;
Notwithstanding the foregoing, no transfer of funds to the Rabbi Trust
shall be made to the extent such a transfer would violate Code Section 409A(b)
or applicable regulations thereunder.</p>

<h1 style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section 12
- Construction</font></b></h1>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.1</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">CONSTRUCTION
OF THIS PLAN</u>&#160; </b>This Plan
shall be construed and enforced according to the laws of the Commonwealth of
Pennsylvania, other than its laws respecting choice of law.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.2</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">GENDER
AND NUMBER</u></b>.<b>&#160; </b>The masculine
gender, where appearing in the Plan, shall be deemed to include the feminine
gender, and the singular shall include the plural, unless the context clearly
indicates to the contrary.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.3</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">HEADINGS</u></b>.<b>&#160; </b>All headings used in this Plan are
for convenience of reference only and are not part of the substance of this
Plan.</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.4</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">ENFORCEABILITY</u></b>.<b>&#160; </b>If any term or
condition of this Plan shall be invalid or unenforceable to any extent or in
any application, then the remainder of the Plan, and such term or condition
except to such extent or in such application, shall not be affected thereby,
and each and every term and condition of the Plan shall be valid and enforced
to the fullest extent and in the broadest application permitted by law.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.5</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">UNIFORMITY</u>&#160; </b>All provisions of this Plan shall be
interpreted and applied in a uniform, nondiscriminatory manner.&#160; In the event of any conflict between the
terms of this Plan and any summaries or other descriptions of this Plan, the
Plan provisions shall control.</p>

<p style="margin:0pt 0pt 24.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF, this Plan, having been duly
approved and adopted by Orleans Homebuilders,
Inc., is executed by a duly authorized officer of the Employer.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Orleans Homebuilders, Inc.</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="25%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:25.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MICHAEL T. VESEY</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:25.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael T.
  Vesey, President</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attest:</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="22%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:22.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LAWRENCE J.
  DUGAN</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:27.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lawrence J.
  Dugan, Secretary</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="168" style="border:none;"></td>
  <td width="206" style="border:none;"></td>
  <td width="32" style="border:none;"></td>
  <td width="193" style="border:none;"></td>
  <td width="148" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='15',FILE='C:\JMS\jthomas\07-25133-1\task2441564\25133-1-mm.htm',USER='105076',CD='Oct  3 13:20 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
