AT&T INC.
AT&AMP;T CORP SR MGMT UNIVERSAL LIFE INSURANCE PROGRAM
<DOCUMENT>
<TYPE>EX-10.HHH
<SEQUENCE>32
<FILENAME>ex10hhh.htm
<DESCRIPTION>AT&AMP;T CORP SR MGMT UNIVERSAL LIFE INSURANCE PROGRAM
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
10-hhh</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AT&amp;T
CORP.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SENIOR
MANAGEMENT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNIVERSAL
LIFE INSURANCE PROGRAM</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
October 1, 1999</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purpose</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
purpose of the AT&amp;T Corp. Senior Management Universal Life Insurance Program
is to provide&#160;&#160;life&#160;&#160;insurance&#160;&#160;benefits to
certain&#160;&#160;executives&#160;&#160;who&#160;&#160;contribute materially to
the continued&#160;&#160;growth,&#160;&#160;development,&#160;&#160;and
future&#160;&#160;business of AT&amp;T Corp.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;1.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Definitions</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following words and phrases,&#160;&#160;as used in this Plan,&#160;&#160;shall
have the meanings set forth below unless a clearly different meaning is required
by the context in which the word or phrase is used.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.0&#160;&#160;&#160;&#160;&#160;&#160;Administrator.&#160;&#160;"Administrator"&#160;&#160;means
the Executive&#160;&#160;Vice&#160;&#160;President -
Human&#160;&#160;Resources&#160;&#160;of the Company (or
any&#160;&#160;successor&#160;&#160;to such&#160;&#160;position)
having&#160;&#160;responsibility for personnel&#160;&#160;matters,&#160;&#160;or
his or her designee.&#160;&#160;The Administrator shall manage and administer
the Program in accordance with its terms and conditions.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.1&#160;&#160;&#160;&#160;&#160;&#160;Assignee.
"Assignee" means the person, trust, entity or organization to whom or to which a
Policyholder&#160;&#160;makes an irrevocable&#160;&#160;assignment on or after
October 1, 1999, of all his or her rights, title, interest, and
incidents&#160;&#160;of&#160;&#160;ownership,&#160;&#160;both&#160;&#160;present
and future,&#160;&#160;to the&#160;&#160;Insurance Policy&#160;&#160;and
any&#160;&#160;other&#160;&#160;assignable&#160;&#160;rights&#160;&#160;to
the&#160;&#160;benefits&#160;&#160;under the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.2&#160;&#160;&#160;&#160;&#160;&#160;Beneficiary.&#160;&#160;&#160;"Beneficiary"
means the person, trust, entity, organization or the estate of
a&#160;&#160;Policy holder&#160;&#160;designated&#160;&#160;pursuant to
Section&#160;&#160;5.4 that is&#160;&#160;entitled to
receive&#160;&#160;benefits&#160;&#160;from an&#160;&#160;Insurance Policy upon
the death of a Participant.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.3&#160;&#160;&#160;&#160;&#160;&#160;Benefit
Amount. "Benefit Amount" means the amount of the life insurance benefit under
the Insurance Policy for which premiums are payable by the Company under the
Program.&#160;&#160;The "Benefit Amount" for a Participant shall be determined
in accordance with Section 5.2.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.4&#160;&#160;&#160;&#160;&#160;&#160;Board.&#160;&#160;"Board"
means the Board of Directors of the Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.5&#160;&#160;&#160;&#160;&#160;&#160;Company.&#160;&#160;"Company"
means AT&amp;T Corp., a New York corporation, and any successors to such
entity.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.6&#160;&#160;&#160;&#160;&#160;&#160;Eligible
Executive.&#160;&#160;"Eligible&#160;&#160;Executive"&#160;&#160;means either
(a) an active employee of an Employer&#160;&#160;who, on
September&#160;&#160;30, 1999,&#160;&#160;is covered as an insured under one or
more life insurance policies that are subject to a
collateral&#160;&#160;assignment&#160;&#160;agreement with the Company under one
or both of the Prior Programs; or (b) any other regular, full-time employee of
the Company&#160;&#160;who, on or after&#160;&#160;October 1,
1999,&#160;&#160;is&#160;&#160;classified&#160;&#160;as a U.S. salary-based
senior manager of the Company (or equivalent salary grade, as determined by the
Company in accordance with its payroll&#160;&#160;practices) and is determined
by the Administrator,&#160;&#160;in his or her sole discretion, to be eligible
for participation in the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.7&#160;&#160;&#160;&#160;&#160;&#160;Employer.&#160;&#160;"Employer"
means the Company and certain of its subsidiaries and affiliates, as determined
by the Company in its sole discretion.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.8&#160;&#160;&#160;&#160;&#160;&#160;ERISA.&#160;&#160;"ERISA"
means the Employee Retirement Income Security Act of 1974, as
amended.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.9&#160;&#160;&#160;&#160;&#160;&#160;Insurance
Policy.&#160;&#160;"Insurance Policy" means one or more life insurance contracts
issued by the Insurer on the life of an Eligible Executive.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.10&#160;&#160;&#160;&#160;&#160;Insurer.&#160;&#160;"Insurer"
means the insurance company or companies to which the Company shall apply for
insurance on an Eligible Executive's life, and which issues an Insurance
Policy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.11&#160;&#160;&#160;&#160;&#160;Normal
Termination Date. "Normal Termination Date" means the latest of (a) the date a
Participant is eligible for retirement-related benefits from&#160;&#160;the
Company as described in Section 2.2; (b) the date a Participant attains age 65;
(c) the date as of which a Participant has been covered for a
combined&#160;&#160;total of at least 15 years under the Prior
Programs&#160;&#160;and the Program (for an
Eligible&#160;&#160;Executive&#160;&#160;who had coverage under both of the
Prior Programs, this 15-year period of coverage shall be measured beginning
from&#160;&#160;the later of his or her coverage commencement&#160;&#160;dates
under the respective&#160;&#160;Prior&#160;&#160;Programs);&#160;&#160;or (d)
the date the Insurance Policy has sufficient&#160;&#160;cash value, as
determined by the Company in its sole discretion, to provide life insurance
coverage for the Participant's remaining life expectancy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.12&#160;&#160;&#160;&#160;&#160;Participant.&#160;&#160;&#160;"Participant"
means an Eligible Executive who has satisfied all of the eligibility and
enrollment conditions in Section 2.0 and with respect to whom an Insurance
Policy has been procured pursuant to Section 3.0 through Section
3.3.&#160;&#160;For purposes of this Section 1.12, "Participant" shall include
(a) a Participant who subsequently becomes disabled and satisfies the
requirements of Section 2.1; and (b) a Participant who retires from active
employment with the Company and is then eligible for retirement-related benefits
as described in Section 2.2.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.13&#160;&#160;&#160;&#160;&#160;Policyholder.&#160;&#160;&#160;"Policyholder"
means the person, trust, entity or organization determined in accordance with
Section 4.0 to be the owner of the Insurance Policy on an Eligible Executive's
life.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.14&#160;&#160;&#160;&#160;&#160;Prior
Programs. "Prior Programs" means the AT&amp;T Senior Management Basic Life
Insurance Program and the AT&amp;T Senior Management Individual Life Insurance
Program as in effect on September 30, 1999.&#160;&#160;The Prior Programs shall
be terminated effective as of September 30, 1999, and replaced by the
Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.15&#160;&#160;&#160;&#160;&#160;Program.&#160;&#160;"Program"
means the AT&amp;T Corp. Senior Management Universal Life Insurance Program,
which shall be evidenced by this plan document, as amended from time to
time.</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section
2.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eligibility
and Participation</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.0&#160;&#160;&#160;&#160;&#160;&#160;Eligibility
Conditions.&#160;&#160;Upon becoming an Eligible Executive, an individual may
become a Participant by:</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;Completing,
executing, and returning all of the enrollment applications and other documents
required under the Program in the form approved by the
Administrator;</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Cooperating
with the Company in obtaining the Insurance Policy on his or her life as
required by Sections 3.0 and 3.1; and</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;Complying
with such further conditions as may be established by the Administrator from
time to time.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject
to the provisions of Sections 2.1, 2.2, 3.3 and 4.1, an Eligible Executive shall
be eligible to continue to participate in the Program until the occurrence of
any event described in Section 6.0 that causes the termination of his or her
participation in the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1&#160;&#160;&#160;&#160;&#160;&#160;Disability
Prior to Normal Termination Date. In the event that (a) a
Participant&#160;&#160;becomes&#160;&#160;disabled (as determined under the
AT&amp;T Long Term Disability Plan for Management Employees),&#160;&#160;and (b)
the Participant continues to be disabled until his or her Normal Termination
Date (without regard to whether the Participant continues to&#160;&#160;receive
payments&#160;&#160;under&#160;&#160;the AT&amp;T Long Term Disability Plan for
Management Employees through&#160;&#160;such
date),&#160;&#160;the&#160;&#160;Participant shall be eligible to
continue&#160;&#160;to&#160;&#160;participate in the&#160;&#160;Program until
his or her&#160;&#160;Normal Termination&#160;&#160;Date.&#160;&#160;If, for any
reason, the Participant ceases to be disabled
(as&#160;&#160;determined&#160;&#160;under&#160;&#160;the&#160;&#160;terms of
the AT&amp;T Long Term Disability Plan for Management Employees) prior to
reaching his or her Normal Termination Date and
the&#160;&#160;Participant&#160;&#160;does not resume&#160;&#160;active
employment with the Employer,
the&#160;&#160;Participant's&#160;&#160;participation in the Program
shall&#160;&#160;terminate as of the date of cessation of such disability
status.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2&#160;&#160;&#160;&#160;&#160;&#160;Retirement
Prior to Normal Termination Date.&#160;&#160;In the event&#160;&#160;that a
Participant&#160;&#160;(a)&#160;&#160;terminates&#160;&#160;employment&#160;&#160;prior&#160;&#160;to
his&#160;&#160;or her&#160;&#160;Normal Termination Date, and (b) is eligible
for&#160;&#160;retirement-related&#160;&#160;benefits from
the&#160;&#160;Company,&#160;&#160;the&#160;&#160;Participant&#160;&#160;shall
be&#160;&#160;eligible to continue to participate&#160;&#160;in the Program
until his or her
Normal&#160;&#160;Termination&#160;&#160;Date.&#160;&#160;Notwithstanding the
foregoing, the Participant's participation in the Program may cease prior to his
or her Normal&#160;&#160;Termination Date upon the occurrence of
another&#160;&#160;event&#160;&#160;described in Section 6.0. For purposes of
this Program, a Participant shall
be&#160;&#160;considered&#160;&#160;&#160;eligible&#160;&#160;for&#160;&#160;retirement-related&#160;&#160;benefits
if he or she has satisfied the eligibility conditions&#160;&#160;for receipt
of&#160;&#160;postretirement&#160;&#160;medical&#160;&#160;benefits under the
AT&amp;T Medical Expense Plan for Retired Employees, as then in
effect.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.3&#160;&#160;&#160;&#160;&#160;&#160;Recommencement
of Participation.&#160;&#160;Once a Participant's participation in the Program
has&#160;&#160;terminated&#160;&#160;as provided in Section 6.0 (other than due
to the&#160;&#160;occurrence&#160;&#160;of an event&#160;&#160;described in
Sections&#160;&#160;6.0(a),&#160;&#160;(b) or (c)), he or she
may&#160;&#160;recommence&#160;&#160;participation&#160;&#160;in the Program if
he or she (a) is an&#160;&#160;Eligible&#160;&#160;Executive&#160;&#160;at
the&#160;&#160;time&#160;&#160;participation&#160;&#160;is to
recommence;&#160;&#160;&#160;and&#160;&#160;(b)&#160;&#160;&#160;satisfies&#160;&#160;&#160;any&#160;&#160;and&#160;&#160;all&#160;&#160;&#160;requirements
for recommencement of participation established by the Administrator in his or
her sole discretion.</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;3.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Procurement
of Insurance Policy</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.0&#160;&#160;&#160;&#160;&#160;&#160;Insurance&#160;&#160;Application&#160;&#160;Requirements.&#160;&#160;The&#160;&#160;Company&#160;&#160;shall
apply to the Insurer for an Insurance Policy on the life of each
Eligible&#160;&#160;Executive in an amount&#160;&#160;determined by the Company
to be sufficient to provide the applicable Benefit Amount for the Eligible
Executive.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.1&#160;&#160;&#160;&#160;&#160;&#160;Cooperation&#160;&#160;Requirement
for Eligible Executive.&#160;&#160;An Eligible Executive shall reasonably
cooperate with the Company in its efforts to apply for and obtain the Insurance
Policy on his or her life by:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;Furnishing
such information as the Insurer may require for completion of the insurance
application and related forms and documents;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Taking
such physical examinations and supplying medical history as may be requested by
the Insurer;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;Signing
the application for the Insurance Policy as the insured; and</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)&#160;&#160;&#160;&#160;&#160;&#160;Doing
any other act to comply with the underwriting and policy issuance requirements
which may reasonably be requested by the Insurer or the
Administrator.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.2&#160;&#160;&#160;&#160;&#160;&#160;Cooperation&#160;&#160;&#160;Requirement
for Policyholder.&#160;&#160;&#160;A Policyholder shall reasonably cooperate
with the Company in its efforts to apply for and obtain the Insurance Policy on
the life of an Eligible Executive by:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;Furnishing
such information&#160;&#160;as the&#160;&#160;Insurer may require
for&#160;&#160;completion of the insurance&#160;&#160;application and related
forms and documents;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Signing
the application for the Insurance Policy as the proposed policy owner;
and</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;Doing
any other act to comply with the underwriting and policy issuance requirements
which may reasonably be requested by the Insurer or the
Administrator.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3&#160;&#160;&#160;&#160;&#160;&#160;Consequences
of Failure to Cooperate.&#160;&#160;The Company shall have no obligation to the
Eligible Executive, the Policyholder or the Policyholder's Beneficiary under the
Program and the Eligible Executive's participation in the Program shall become
null, void and of no force or effect if:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;The
Administrator,&#160;&#160;in his or her sole discretion,&#160;&#160;determines
that&#160;&#160;an&#160;&#160;Eligible&#160;&#160;Executive&#160;&#160;or&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;has&#160;&#160;not
adequately&#160;&#160;&#160;cooperated&#160;&#160;&#160;in&#160;&#160;the&#160;&#160;process&#160;&#160;of&#160;&#160;procuring&#160;&#160;the
Insurance Policy on the Eligible&#160;&#160;Executive's life as required by
Section 3.1 and Section 3.2, respectively; or</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;The
Company is, for any reason,&#160;&#160;unable to obtain insurance in
the&#160;&#160;specified&#160;&#160;amount&#160;&#160;on
an&#160;&#160;Eligible&#160;&#160;Executive's&#160;&#160;life&#160;&#160;at
standard rates or rates otherwise acceptable to the Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;4.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Incidents
of Ownership</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.0&#160;&#160;&#160;&#160;&#160;&#160;Policy&#160;&#160;Ownership.&#160;&#160;The
Insurance&#160;&#160;Policy shall, at all times, be owned solely
and&#160;&#160;absolutely by the&#160;&#160;Policyholder,&#160;&#160;except in
the event of an assignment&#160;&#160;to an Assignee as provided&#160;&#160;for
in Section 4.2. The person,
trust,&#160;&#160;entity&#160;&#160;or&#160;&#160;organization&#160;&#160;that&#160;&#160;will
be the&#160;&#160;Policyholder&#160;&#160;with respect to a Participant shall be
determined as follows:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;Eligible&#160;&#160;Executive
Who&#160;&#160;Participated&#160;&#160;in Prior&#160;&#160;Programs with Single
Policy Owner.&#160;&#160;If on September 30, 1999 (i) an Eligible
Executive&#160;&#160;was&#160;&#160;covered as
an&#160;&#160;insured&#160;&#160;under one or more life insurance policies that
are subject to a collateral assignment with the Company under one or both of the
Prior Programs,&#160;&#160;and (ii) all such
life&#160;&#160;insurance&#160;&#160;policies were owned by a single policy
owner (or&#160;&#160;assignee),&#160;&#160;such policy owner
(or&#160;&#160;assignee) shall&#160;&#160;be
the&#160;&#160;Eligible&#160;&#160;Executive's&#160;&#160;Policyholder&#160;&#160;under&#160;&#160;the
Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Eligible&#160;&#160;Executive
Who&#160;&#160;Participated&#160;&#160;in Prior&#160;&#160;Programs with
Multiple&#160;&#160;Policy&#160;&#160;Owners.&#160;&#160;If
on&#160;&#160;September&#160;&#160;30,&#160;&#160;1999&#160;&#160;(i) an
Eligible Executive was covered as an insured under one or more
life&#160;&#160;insurance&#160;&#160;policies&#160;&#160;that
are&#160;&#160;subject&#160;&#160;to a&#160;&#160;collateral assignment
agreement with the Company under one or both of the Prior Programs, and (ii) all
such life insurance policies were owned by two or more
different&#160;&#160;policy owners (or&#160;&#160;assignees), the Eligible
Executive's&#160;&#160;Policyholder under the Program shall be the
person,&#160;&#160;trust, entity or organization that all of such policy owners
or assignees&#160;&#160;(excluding the Eligible&#160;&#160;Executive if he
or&#160;&#160;she is one of
the&#160;&#160;policy&#160;&#160;owners)&#160;&#160;agree&#160;&#160;upon&#160;&#160;and
designate&#160;&#160;as
the&#160;&#160;Policyholder&#160;&#160;with&#160;&#160;respect to the Eligible
Executive.&#160;&#160;If, for any reason, an agreement among such policy
owners&#160;&#160;(or&#160;&#160;assignees)&#160;&#160;cannot be reached by
October 1, 1999, and/or
no&#160;&#160;designation&#160;&#160;of&#160;&#160;Policyholder&#160;&#160;is&#160;&#160;received&#160;&#160;by
the Administrator by October 1, 1999, the Eligible Executive shall be the
Policyholder&#160;&#160;unless the&#160;&#160;Administrator,&#160;&#160;in his
or her sole&#160;&#160;discretion,&#160;&#160;determines&#160;&#160;that one or
more other persons,&#160;&#160;trusts,&#160;&#160;entities or
organizations&#160;&#160;should be the Policyholder
with&#160;&#160;respect&#160;&#160;to&#160;&#160;the&#160;&#160;&#160;Insurance&#160;&#160;&#160;Policy&#160;&#160;on&#160;&#160;the&#160;&#160;Eligible
Executive's life.</font></div>
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;Eligible&#160;&#160;Executive&#160;&#160;Who&#160;&#160;Did&#160;&#160;Not&#160;&#160;Participate&#160;&#160;in
the&#160;&#160;Prior Programs.&#160;&#160;If on September 30, 1999, an Eligible
Executive was not&#160;&#160;covered&#160;&#160;as an insured&#160;&#160;under
one or more life&#160;&#160;insurance policies issued under one or both of the
Prior&#160;&#160;Programs,&#160;&#160;the
Eligible&#160;&#160;Executive's&#160;&#160;Policyholder under the Program shall
be the person (including the Eligible&#160;&#160;Executive),&#160;&#160;trust,
entity or organization that the
Eligible&#160;&#160;Executive&#160;&#160;designates to be his or
her&#160;&#160;Policyholder in the
Eligible&#160;&#160;Executive's&#160;&#160;written
enrollment&#160;&#160;application for participation in the
Program.&#160;&#160;If, for any reason, an Eligible&#160;&#160;Executive who did
not participate in either of the Prior Programs on September 30, 1999 fails to
designate&#160;&#160;a&#160;&#160;Policyholder&#160;&#160;under
the&#160;&#160;Program,&#160;&#160;the&#160;&#160;Eligible
Executive&#160;&#160;shall&#160;&#160;be&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;with&#160;&#160;respect&#160;&#160;to
the Insurance Policy on his or her life.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1&#160;&#160;&#160;&#160;&#160;&#160;Rights
of Policyholder&#160;&#160;and Company.&#160;&#160;Prior to
a&#160;&#160;Participant's&#160;&#160;Normal Termination Date, the Policyholder
or his or her Assignee shall control
all&#160;&#160;incidents&#160;&#160;of&#160;&#160;ownership&#160;&#160;with&#160;&#160;respect&#160;&#160;to
the&#160;&#160;Insurance&#160;&#160;Policy including all policy cash values and
death benefits under the Insurance
Policy&#160;&#160;on&#160;&#160;the&#160;&#160;Participant's&#160;&#160;&#160;life.&#160;&#160;&#160;However,&#160;&#160;&#160;in&#160;&#160;the&#160;&#160;event&#160;&#160;the
Policyholder&#160;&#160;or his or her Assignee&#160;&#160;surrenders the
Insurance&#160;&#160;Policy, withdraws&#160;&#160;any cash value from
the&#160;&#160;Insurance&#160;&#160;Policy or obtains a loan from
the&#160;&#160;Insurance&#160;&#160;Policy,&#160;&#160;the&#160;&#160;Participant's&#160;&#160;participation&#160;&#160;in
the Program shall&#160;&#160;immediately&#160;&#160;cease and the Company will
not be obligated to continue to make any further premium payments as provided by
Section 5.1 for the Insurance Policy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2&#160;&#160;&#160;&#160;&#160;&#160;Assignment
of Insurance&#160;&#160;Policy by Policyholder.&#160;&#160;A
Policyholder&#160;&#160;shall have the right, at any time, to absolutely
and&#160;&#160;irrevocably&#160;&#160;assign his or her
rights,&#160;&#160;title,&#160;&#160;interest,&#160;&#160;and incidents of
ownership in and to the Insurance Policy and any other
assignable&#160;&#160;rights to benefits under
this&#160;&#160;Program&#160;&#160;to&#160;&#160;any&#160;&#160;person,&#160;&#160;trust,&#160;&#160;entity&#160;&#160;or&#160;&#160;organization.&#160;&#160;Any
assignment&#160;&#160;shall be subject to the&#160;&#160;consent of
the&#160;&#160;Insurer.&#160;&#160;Any such assignment shall be on a form
approved by the Insurer. No assignment by a Policyholder&#160;&#160;shall be
effective until acknowledged in writing by the Insurer. A copy of the
written&#160;&#160;acknowledgment shall be returned to the
Policyholder&#160;&#160;and the&#160;&#160;Assignee.&#160;&#160;Once
the&#160;&#160;assignment of the Insurance Policy has
been&#160;&#160;acknowledged by the
Insurer,&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;shall have no further
rights, title, interest or incidents of ownership, both present and
future,&#160;&#160;in or under the&#160;&#160;Insurance&#160;&#160;Policy or to
any other rights to benefits under the Program covered by the assignment, and
the Assignee&#160;&#160;shall have all such
assigned&#160;&#160;rights,&#160;&#160;title,&#160;&#160;interest, and incidents
of&#160;&#160;ownership,&#160;&#160;both present and future,&#160;&#160;under
the Insurance Policy and the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.3&#160;&#160;&#160;&#160;&#160;&#160;Beneficiary&#160;&#160;Elections
and Settlement Options. A Policyholder or his or her Assignee, if any, may
exercise (a) the right to designate or change&#160;&#160;the Beneficiary of life
insurance&#160;&#160;proceeds under the
Insurance&#160;&#160;Policy&#160;&#160;pursuant to Section 5.4;&#160;&#160;and
(b) the right to elect any optional&#160;&#160;mode
of&#160;&#160;settlement&#160;&#160;with&#160;&#160;respect&#160;&#160;to such
life&#160;&#160;insurance&#160;&#160;proceeds.&#160;&#160;Upon request&#160;of
a&#160;Policyholder&#160;&#160;or&#160;&#160;his&#160;&#160;or&#160;&#160;her&#160;&#160;Assignee,&#160;&#160;if&#160;&#160;any,&#160;&#160;the
applicable&#160;&#160;form for any&#160;&#160;designation&#160;&#160;or change
of&#160;&#160;Beneficiary or any
election&#160;&#160;of&#160;&#160;an&#160;&#160;optional&#160;&#160;mode&#160;&#160;of&#160;&#160;settlement&#160;&#160;shall&#160;&#160;be&#160;&#160;sent&#160;&#160;to
a Policyholder, an Assignee or a Beneficiary, as appropriate.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.4&#160;&#160;&#160;&#160;&#160;&#160;No
Ownership Interest by the Company. No provision in the Program shall be
construed or&#160;&#160;interpreted&#160;&#160;to permit or provide the Company
with any rights,&#160;&#160;title,&#160;&#160;interest or&#160;&#160;incidents
of&#160;&#160;ownership,&#160;both present or future, to the Insurance
Policy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;5.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Payment
of Benefits</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.0&#160;&#160;&#160;&#160;&#160;&#160;Source
of Benefits. The sole benefit under the Program to a Participant
shall&#160;&#160;be the&#160;&#160;premium&#160;&#160;payments&#160;&#160;made
by the&#160;&#160;Company&#160;&#160;to the&#160;&#160;Insurer pursuant to
Section 5.1 to maintain the Insurance&#160;&#160;Policy on his or her
life&#160;&#160;and&#160;&#160;the&#160;&#160;tax&#160;&#160;&#160;adjustment&#160;&#160;&#160;made&#160;&#160;pursuant&#160;&#160;to&#160;&#160;Section&#160;&#160;5.3.&#160;&#160;A
Beneficiary's&#160;&#160;sole source of benefits&#160;&#160;under the
Program&#160;&#160;shall be the Insurance Policy under which the
Policyholder,&#160;&#160;or his or her Assignee,
designates&#160;&#160;a&#160;&#160;Beneficiary&#160;&#160;to&#160;&#160;receive&#160;&#160;&#160;benefits&#160;&#160;&#160;payable&#160;&#160;upon&#160;&#160;the
Participant's death.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.1&#160;&#160;&#160;&#160;&#160;&#160;Payment
of Insurance Premiums.&#160;&#160;When the Company submits an application for
the Insurance Policy on the life of an
Eligible&#160;&#160;Executive,&#160;&#160;or as
soon&#160;&#160;thereafter&#160;&#160;as is required by the
Insurer,&#160;&#160;the Company shall pay the initial premium on the Insurance
Policy to the Insurer. Thereafter,
the&#160;&#160;Company&#160;&#160;shall&#160;&#160;annually&#160;&#160;(or
more&#160;&#160;frequently&#160;&#160;as required by the Insurer)&#160;&#160;pay
the&#160;&#160;premiums&#160;&#160;determined&#160;&#160;to be due under
the&#160;&#160;Insurance Policy.&#160;&#160;While the
Eligible&#160;&#160;Executive is a Participant,&#160;&#160;the amount of the
premiums paid by the Company shall be sufficient,&#160;&#160;as determined by
the Company in its sole discretion, to maintain life insurance coverage on
the&#160;&#160;life&#160;&#160;of
the&#160;&#160;Participant&#160;&#160;equal&#160;&#160;to
the&#160;&#160;Benefit&#160;&#160;Amount.&#160;&#160;The
Company's&#160;&#160;obligation to make premium&#160;&#160;payments on the
Insurance Policy covering the life of a Participant&#160;&#160;shall cease upon
the termination of the Participant's participation, as provided for in Section
6.0.</font></div>
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2&#160;&#160;&#160;&#160;&#160;&#160;Benefit
Amount.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Benefit&#160;&#160;Amount&#160;&#160;under&#160;&#160;the&#160;&#160;Program&#160;&#160;with&#160;&#160;respect&#160;&#160;to
a Participant&#160;&#160;who
is&#160;&#160;actively&#160;&#160;employed&#160;&#160;by an Employer at any time
on
or&#160;&#160;after&#160;&#160;October&#160;&#160;1,&#160;&#160;1999&#160;&#160;shall
be&#160;&#160;determined&#160;&#160;as follows:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;&#160;&#160;Prior
to Age 65: The Benefit Amount for a Participant prior to age 65 shall be equal
to 250&#160;&#160;percent of the Participant's annual base salary (determined
based on the&#160;&#160;Employer's&#160;&#160;records) paid to
the&#160;&#160;Participant by
the&#160;&#160;Employer,&#160;&#160;rounded&#160;&#160;up to the
next&#160;&#160;$1,000.&#160;&#160;Any
salary&#160;&#160;increase&#160;&#160;will be&#160;&#160;reflected&#160;&#160;in
the&#160;&#160;Benefit Amount as soon as administratively&#160;&#160;practicable
after the salary increase becomes effective.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;&#160;&#160;Age&#160;&#160;65&#160;&#160;and&#160;&#160;Older:&#160;&#160;&#160;The&#160;&#160;&#160;Benefit&#160;&#160;&#160;Amount&#160;&#160;for&#160;&#160;a
Participant&#160;&#160;age 65 or&#160;&#160;older&#160;&#160;will
be&#160;&#160;equal&#160;&#160;to the Participant's Benefit Amount at age
64.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Any
Participant who is eligible for continued participation in the
Program&#160;&#160;pursuant to the&#160;&#160;provisions of either Section 2.1
or&#160;&#160;Section&#160;&#160;2.2 due
to&#160;&#160;retirement&#160;&#160;or&#160;&#160;disability&#160;&#160;prior&#160;&#160;to
attainment of his of her Normal&#160;&#160;Termination&#160;&#160;Date will have
a Benefit Amount as described&#160;&#160;under Section&#160;&#160;5.2(a)(i) and
(ii) above,&#160;&#160;whichever is applicable,&#160;&#160;throughout the
Participant's period of continued&#160;&#160;participation&#160;&#160;in the
Program&#160;&#160;(under the terms of Section 2.1 or Section 2.2, as
applicable); provided, however,&#160;&#160;that for purposes of determining
such&#160;&#160;Participant's
Benefit&#160;&#160;Amount,&#160;&#160;&#160;the&#160;&#160;Participant's&#160;&#160;&#160;"annual&#160;&#160;base&#160;&#160;salary"
referred to in Section&#160;&#160;5.2(a)(i)&#160;&#160;shall be
the&#160;&#160;Participant's
final&#160;&#160;"annual&#160;&#160;base&#160;&#160;salary"&#160;&#160;on&#160;&#160;the&#160;&#160;date&#160;&#160;of&#160;&#160;his&#160;&#160;or&#160;&#160;her
retirement or disability.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3&#160;&#160;&#160;&#160;&#160;&#160;Tax
Adjustment. The Company shall make a tax adjustment with respect to each premium
payment made to the Insurer pursuant to Section 5.1 on the
Insurance&#160;&#160;Policy&#160;&#160;covering the life of
a&#160;&#160;Participant.&#160;&#160;The amount and frequency of each
tax&#160;&#160;adjustment,&#160;&#160;as determined by the Company in its
sole&#160;&#160;discretion,&#160;&#160;is intended to be&#160;&#160;sufficient
to cover the estimated amount of federal&#160;&#160;income taxes and FICA taxes
that will be incurred by the&#160;&#160;Participant&#160;&#160;on
the&#160;&#160;sum
of&#160;&#160;the&#160;&#160;premium&#160;&#160;payment&#160;&#160;plus&#160;&#160;the&#160;&#160;tax
adjustment itself. Each tax adjustment shall be equal to the sum of two amounts
that are described below and referred to herein respectively as the "tax
withholding portion" and the "excess portion":</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;Tax
Withholding Portion of Tax Adjustment: The tax withholding portion of each tax
adjustment&#160;&#160;shall be equal to the combined total amount of
federal&#160;&#160;income taxes and FICA taxes&#160;&#160;required to be
withheld&#160;&#160;with respect to (i) each premium&#160;&#160;payment made by
the Company; and (ii) each corresponding tax adjustment.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;Excess
Portion of Tax&#160;&#160;Adjustment:&#160;&#160;The excess portion of each
tax&#160;&#160;&#160;adjustment&#160;&#160;&#160;shall&#160;&#160;be&#160;&#160;equal&#160;&#160;to&#160;&#160;the&#160;&#160;&#160;applicable&#160;&#160;tax
adjustment,&#160;&#160;reduced by the related tax withholding portion of such
tax&#160;&#160;adjustment&#160;&#160;determined&#160;&#160;under&#160;&#160;Section&#160;&#160;5.3(a)&#160;&#160;with&#160;&#160;respect
to the premium payment and the related tax adjustment.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;tax&#160;&#160;withholding&#160;&#160;portion&#160;&#160;of&#160;&#160;each&#160;&#160;tax&#160;&#160;adjustment&#160;&#160;payment,&#160;&#160;as
described&#160;&#160;in&#160;&#160;Section&#160;&#160;5.3(a)&#160;&#160;(above),&#160;&#160;shall
be paid by the&#160;&#160;Company directly to the applicable federal tax
authorities.&#160;&#160;The excess portion of each tax adjustment payment, as
described in Section 5.3(b) (above), shall be paid in cash to
the&#160;&#160;Participant&#160;&#160;(or if he or she is not then
living,&#160;&#160;to his or her
estate).&#160;&#160;The&#160;&#160;Company's&#160;&#160;obligation to make
tax&#160;&#160;adjustment&#160;&#160;payments with respect to a Participant
shall cease upon the termination of the Participant's&#160;&#160;participation
in the Program pursuant to the provisions of Section 6.0.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.4&#160;&#160;&#160;&#160;&#160;&#160;Beneficiary&#160;&#160;Designations.&#160;&#160;A
Policyholder&#160;&#160;or, if the Policyholder has&#160;&#160;assigned the
Insurance Policy pursuant to Section 4.2, the Assignee may designate a
Beneficiary&#160;&#160;to receive life&#160;&#160;insurance&#160;&#160;proceeds
under the Insurance&#160;&#160;Policy upon the death of
the&#160;&#160;Participant,&#160;&#160;or may change an
existing&#160;&#160;designation&#160;&#160;of
the&#160;&#160;Beneficiary&#160;&#160;to
receive&#160;&#160;such&#160;&#160;insurance
proceeds.&#160;&#160;Any&#160;&#160;designation&#160;&#160;of Beneficiary or
change in the designated Beneficiary&#160;&#160;shall
be&#160;&#160;accomplished&#160;&#160;in accordance&#160;&#160;with the
applicable terms of the Insurance Policy using forms approved by the
Insurer.&#160;&#160;If, for any reason,&#160;&#160;no
valid&#160;&#160;Beneficiary&#160;&#160;designation is on file with the
Insurer&#160;&#160;at the time of
the&#160;&#160;Participant's&#160;&#160;death,&#160;&#160;the
life&#160;&#160;insurance proceeds payable under the Insurance Policy shall be
paid in accordance with the terms of the Insurance Policy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.5&#160;&#160;&#160;&#160;&#160;&#160;No
Company or&#160;&#160;Employer&#160;&#160;Obligation.&#160;&#160;Neither the
Company nor any other Employer&#160;&#160;shall&#160;&#160;have
any&#160;&#160;obligation&#160;&#160;of
any&#160;&#160;nature&#160;&#160;whatsoever&#160;&#160;to a
Policyholder&#160;&#160;or his or her Assignee or Beneficiary&#160;&#160;under
this Program
if&#160;&#160;the&#160;&#160;circumstances&#160;&#160;of&#160;&#160;the&#160;&#160;Participant's&#160;&#160;death,&#160;&#160;the&#160;&#160;terms&#160;&#160;and
conditions of this Program,&#160;&#160;or any other reason,&#160;&#160;precludes
payment of life&#160;&#160;insurance&#160;&#160;proceeds&#160;&#160;or any
other&#160;&#160;benefits&#160;&#160;under the&#160;&#160;Insurance Policy or
Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.6&#160;&#160;&#160;&#160;&#160;&#160;No
Affect on Other Company Benefits:&#160;&#160;No portion of any premium payment
on any Insurance Policy or any tax adjustment payment made with respect to
a&#160;&#160;Participant&#160;&#160;as provided&#160;&#160;in
this&#160;&#160;Section 5 shall be included or otherwise taken
into&#160;&#160;consideration as pay,&#160;&#160;compensation or income for
purposes&#160;&#160;of any
other&#160;&#160;"employee&#160;&#160;welfare&#160;&#160;benefit&#160;&#160;plan"&#160;&#160;(within
the meaning of Section 3(1) of ERISA),&#160;&#160;any "employee pension benefit
plan"
(within&#160;&#160;the&#160;&#160;meaning&#160;&#160;of&#160;&#160;Section&#160;&#160;&#160;3(2)&#160;&#160;of&#160;&#160;ERISA),&#160;&#160;&#160;or&#160;&#160;any&#160;&#160;other
compensation&#160;&#160;or benefit plan,&#160;&#160;program
or&#160;&#160;arrangement of any Employer covering the
Participant&#160;&#160;unless&#160;&#160;expressly&#160;&#160;provided for in
such plan, program or arrangement.</font></div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;6.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
of Participation</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.0&#160;&#160;&#160;&#160;&#160;&#160;Events&#160;&#160;that&#160;&#160;Cause&#160;&#160;Termination&#160;&#160;of&#160;&#160;Participation.&#160;&#160;&#160;A&#160;&#160;Participant's
participation&#160;&#160;in the Program shall&#160;&#160;terminate when the
first of any of the following events occurs:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;The
death of the Participant;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;The
Participant attains his or her Normal Termination Date;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;The
Board (or its delegate) terminates the Program pursuant to Section
8.1;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(d)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;termination&#160;&#160;of
the&#160;&#160;Participant's&#160;&#160;employment&#160;&#160;with&#160;&#160;the
Company,&#160;&#160;for any
reason&#160;&#160;(other&#160;&#160;than&#160;&#160;death,&#160;&#160;disability&#160;&#160;as
described in Section 2.1 or retirement with retirement-related benefits
as&#160;&#160;described&#160;&#160;in Section&#160;&#160;2.2),&#160;&#160;prior
to his or her Normal&#160;&#160;Termination&#160;&#160;Date
(unless&#160;&#160;otherwise&#160;&#160;agreed to by the Company in
writing);</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(e)&#160;&#160;&#160;&#160;&#160;&#160;Cessation
of the Participant's&#160;&#160;disability prior to his or her
Normal&#160;&#160;Termination&#160;&#160;Date&#160;&#160;under&#160;&#160;circumstances&#160;&#160;described&#160;&#160;in
Section&#160;&#160;2.1,&#160;&#160;when&#160;&#160;the&#160;&#160;&#160;Participant&#160;&#160;&#160;does&#160;&#160;not&#160;&#160;recommence
employment with the Employer;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(f)&#160;&#160;&#160;&#160;&#160;&#160;Voluntary&#160;&#160;termination
of the&#160;&#160;Participant's&#160;&#160;participation in the Program
initiated by the Participant giving written notice to
the&#160;&#160;Administrator&#160;&#160;prior to his or her
Normal&#160;&#160;Termination&#160;&#160;Date;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(g)&#160;&#160;&#160;&#160;&#160;&#160;The
Policyholder or his or her Assignee,&#160;&#160;if any, takes any of
the&#160;&#160;actions
described&#160;&#160;in&#160;&#160;Section&#160;&#160;4.1&#160;&#160;(e.g.,
loans or
withdrawals)&#160;&#160;that&#160;&#160;cause&#160;&#160;termination&#160;&#160;of&#160;&#160;the
Participant's participation in the Program;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(h)&#160;&#160;&#160;&#160;&#160;&#160;Demotion&#160;&#160;of&#160;&#160;the&#160;&#160;Participant&#160;&#160;to&#160;&#160;a&#160;&#160;position&#160;&#160;that&#160;&#160;is&#160;&#160;not
classified&#160;&#160;or&#160;&#160;otherwise&#160;&#160;treated&#160;&#160;by
the&#160;&#160;Company as being a senior manager-level position (or equivalent
salary grade), as determined by the Administrator; or</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;&#160;Participant&#160;&#160;&#160;is&#160;&#160;determined&#160;&#160;&#160;by&#160;&#160;the&#160;&#160;Executive&#160;&#160;&#160;Vice
President-Human&#160;&#160;Resources of the Company,&#160;&#160;in his or her
sole discretion,&#160;&#160;to have engaged in any
competitive&#160;&#160;activity that violates the provisions of the AT&amp;T
Non-Competition Guideline, as&#160;&#160;amended&#160;&#160;from time to
time,&#160;&#160;or any other&#160;&#160;non-competition commitment of the
Participant to any Employer.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Termination
of a&#160;&#160;Participant's&#160;&#160;participation&#160;&#160;in the Program
upon the occurrence&#160;&#160;of any of the
events&#160;&#160;described&#160;&#160;in this&#160;&#160;Section 6.0 shall have
the consequences&#160;&#160;described in Sections 6.1, 6.2 or 6.3, whichever is
applicable.</font></div>
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          </div>
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        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.1&#160;&#160;&#160;&#160;&#160;&#160;Death
of Participant Prior to Normal Termination Date. If a Participant continues to
participate in the Program until his or her&#160;&#160;participation
terminates&#160;&#160;due to
death&#160;&#160;(as&#160;&#160;provided&#160;&#160;in&#160;&#160;Section&#160;&#160;6.0(a))&#160;&#160;prior
to attainment of his or her Normal&#160;&#160;Termination Date, then effective
as of the date of death:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Company&#160;&#160;shall&#160;&#160;have
no&#160;&#160;further&#160;&#160;obligation&#160;&#160;to make any
premium&#160;&#160;payments with respect to the Insurance&#160;&#160;Policy on
the Participant's life pursuant to Section 5.1.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Policyholder's&#160;&#160;Beneficiary&#160;&#160;shall
be entitled to receive the
life&#160;&#160;insurance&#160;&#160;benefit&#160;&#160;payable by the Insurer
under the Insurance Policy,&#160;&#160;subject to any
binding&#160;&#160;settlement&#160;&#160;options elected by the Policyholder
prior to the Participant's death.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;restrictions&#160;&#160;in&#160;&#160;Section&#160;&#160;4.1&#160;&#160;on&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;or
Assignee&#160;&#160;pertaining&#160;&#160;to the exercise of
certain&#160;&#160;incidents of ownership of the Insurance&#160;&#160;Policy on
the&#160;&#160;Participant's&#160;&#160;life (e.g., loans and withdrawals) shall
no longer apply.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.2&#160;&#160;&#160;&#160;&#160;&#160;Attainment
of Normal&#160;&#160;Termination&#160;&#160;Date. If a
Participant&#160;&#160;continues to participate in the Program until his or her
participation terminates by reason of his or
her&#160;&#160;attainment&#160;&#160;of
the&#160;&#160;Normal&#160;&#160;Termination&#160;&#160;Date (as
provided&#160;&#160;in&#160;&#160;Section&#160;&#160;6.0(b)),&#160;&#160;then&#160;&#160;effective&#160;&#160;as&#160;&#160;of&#160;&#160;the&#160;&#160;date
of termination of participation:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Company&#160;&#160;shall&#160;&#160;have
no&#160;&#160;further&#160;&#160;obligation&#160;&#160;to make any
premium&#160;&#160;payments with respect to the Insurance&#160;&#160;Policy on
the Participant's life pursuant to Section 5.1.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Insurance&#160;&#160;Policy
will have&#160;&#160;sufficient&#160;&#160;cash&#160;&#160;value,&#160;&#160;as
determined using
reasonable&#160;&#160;actuarial&#160;&#160;assumptions&#160;&#160;chosen by the
Company in its sole discretion,&#160;&#160;to provide life insurance
coverage&#160;&#160;&#160;throughout&#160;&#160;&#160;the&#160;&#160;&#160;Participant's&#160;&#160;&#160;remaining&#160;&#160;&#160;life
expectancy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;restrictions&#160;&#160;in&#160;&#160;Section&#160;&#160;4.1&#160;&#160;on&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;or
Assignee&#160;&#160;pertaining&#160;&#160;to the exercise of
certain&#160;&#160;incidents of ownership of the Insurance&#160;&#160;Policy on
the&#160;&#160;Participant's&#160;&#160;life&#160;&#160;(e.g., loans and
withdrawals) shall no longer apply.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.3&#160;&#160;&#160;&#160;&#160;&#160;Discontinuance
of Participation&#160;&#160;Prior to Normal Termination Date. If a
Participant's&#160;&#160;participation&#160;&#160;in&#160;&#160;the&#160;&#160;Program&#160;&#160;terminates&#160;&#160;due&#160;&#160;to
the occurrence&#160;&#160;of any of the events&#160;&#160;described in
Section&#160;&#160;6.0(c)&#160;&#160;through
Section&#160;&#160;6.0(i),&#160;&#160;inclusive,&#160;&#160;then&#160;&#160;effective&#160;&#160;as
of the&#160;&#160;date&#160;&#160;of such termination of
participation:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Company&#160;&#160;shall&#160;&#160;have
no&#160;&#160;further&#160;&#160;obligation&#160;&#160;to make any
premium&#160;&#160;payments with respect to the Insurance&#160;&#160;Policy on
the Participant's life pursuant to Section 5.1.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)&#160;&#160;&#160;&#160;&#160;&#160;The
Participant,&#160;&#160;Policyholder, and any Assignee shall have no further
rights under the Program and shall only be entitled to&#160;&#160;the
Insurance&#160;&#160;Policy cash value as of the date of termination
of&#160;&#160;participation&#160;&#160;in the Program.&#160;&#160;The
Company&#160;&#160;shall have no obligation&#160;&#160;to
pay&#160;&#160;additional&#160;&#160;premiums or increase&#160;&#160;the cash
value so as to provide cash values&#160;&#160;sufficient to continue any level
of coverage&#160;&#160;under the
Insurance&#160;&#160;Policy&#160;&#160;throughout the
Participant's&#160;&#160;&#160;remaining&#160;&#160;life&#160;&#160;&#160;expectancy.&#160;&#160;&#160;The&#160;&#160;Insurance&#160;&#160;Policy's&#160;&#160;cash
value&#160;&#160;(whether&#160;&#160;above or below
any&#160;&#160;estimates,&#160;&#160;projections
or&#160;&#160;illustrations)&#160;&#160;shall be limited solely to the
cash&#160;&#160;value&#160;&#160;of&#160;&#160;the&#160;&#160;Insurance&#160;&#160;Policy&#160;&#160;on&#160;&#160;the&#160;&#160;date&#160;&#160;of
the Participant's termination of participation in the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;restrictions&#160;&#160;in&#160;&#160;Section&#160;&#160;4.1&#160;&#160;on&#160;&#160;the&#160;&#160;Policyholder&#160;&#160;or
Assignee&#160;&#160;pertaining&#160;&#160;to the exercise of
certain&#160;&#160;incidents of ownership of the Insurance&#160;&#160;Policy on
the&#160;&#160;Participant's&#160;&#160;life (e.g., loans and withdrawals) shall
no longer apply.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;7.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Claims
and Appeals</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.0&#160;&#160;&#160;&#160;&#160;&#160;Claims.&#160;&#160;A
person who believes that he or she is being denied a benefit&#160;&#160;to which
he or she is entitled under this Program (hereinafter referred to as
a&#160;&#160;"Claimant")&#160;&#160;may file a written&#160;&#160;request for
such benefit with&#160;&#160;the Company's Executive Human
Resources&#160;&#160;Department,&#160;&#160;setting forth his or her claim. The
request must be addressed to the Company's&#160;&#160;Executive
Human&#160;&#160;Resources&#160;&#160;Department at its
then&#160;&#160;principal&#160;&#160;place of
business.&#160;&#160;&#160;Notwithstanding&#160;&#160;the
foregoing,&#160;&#160;any Beneficiary's claim for payment
of&#160;&#160;life&#160;&#160;insurance&#160;&#160;proceeds from an
Insurance&#160;&#160;Policy on a&#160;&#160;Participant's life shall not
be&#160;&#160;considered a claim for benefits&#160;&#160;under this
Program.&#160;&#160;Any such&#160;&#160;claim for
life&#160;&#160;insurance&#160;&#160;proceeds&#160;&#160;should be filed with
the&#160;&#160;Insurer in accordance&#160;&#160;with the terms
and&#160;&#160;provisions of the applicable Insurance Policy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.1&#160;&#160;&#160;&#160;&#160;&#160;Claim
Decision.&#160;&#160;Upon receipt of a claim, the Company's Executive
Human&#160;&#160;Resources&#160;&#160;Department&#160;&#160;shall advise
the&#160;&#160;Claimant&#160;&#160;that a reply will be
forthcoming&#160;&#160;within ninety (90) days and shall,&#160;&#160;in
fact,&#160;&#160;deliver such reply within
such&#160;&#160;period.&#160;&#160;The&#160;&#160;Company's&#160;&#160;Executive&#160;&#160;Human&#160;&#160;Resources
Department&#160;&#160;may,&#160;&#160;however,&#160;&#160;extend&#160;&#160;the&#160;&#160;reply&#160;&#160;period&#160;&#160;for&#160;&#160;up&#160;&#160;to&#160;&#160;an
additional ninety (90) days for reasonable cause.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
the claim is&#160;&#160;denied&#160;&#160;by
the&#160;Company's&#160;&#160;Executive&#160;&#160;Human&#160;&#160;Resources&#160;&#160;Department,&#160;&#160;in&#160;&#160;whole&#160;&#160;or&#160;&#160;in&#160;&#160;part,&#160;&#160;the&#160;&#160;Company's&#160;&#160;Executive&#160;&#160;Human&#160;&#160;Resources&#160;&#160;Department&#160;&#160;shall
provide a written&#160;&#160;response using language calculated to be understood
by the Claimant and setting forth:&#160;&#160;(a) the&#160;&#160;specific reason
or reasons for such denial; (b) specific&#160;&#160;references to pertinent
provisions of this Program on which such denial is based; (c) a description of
any additional&#160;&#160;material or information&#160;&#160;necessary for the
Claimant to perfect his or her claim and an explanation of why such material or
such information is necessary;&#160;&#160;(d) appropriate information as to the
steps to be taken if the Claimant&#160;&#160;wishes to submit the claim
for&#160;&#160;review;&#160;&#160;and (e) the time&#160;&#160;limits
for&#160;&#160;requesting&#160;&#160;a review&#160;&#160;under Section 7.2 and
for review under Section 7.3.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.2&#160;&#160;&#160;&#160;&#160;&#160;Request&#160;&#160;for&#160;&#160;Review.&#160;&#160;Within&#160;&#160;sixty
(60) days after the receipt by the Claimant of the
written&#160;&#160;opinion&#160;&#160;described&#160;&#160;above,&#160;&#160;the&#160;&#160;Claimant&#160;&#160;may&#160;&#160;request
in writing that the&#160;&#160;Administrator&#160;&#160;review the determination
of&#160;&#160;the Company's Executive Human
Resources&#160;&#160;Department.&#160;&#160;Such request must&#160;&#160;be
addressed to the&#160;&#160;Administrator&#160;&#160;at the address for giving
notice to the Administrator designated in Section 9.3. The Claimant or his or
her&#160;&#160;duly authorized&#160;&#160;representative may, but need not,
review the pertinent&#160;&#160;documents and submit&#160;&#160;issues and
comments in writing for&#160;&#160;consideration&#160;&#160;by the
Administrator.&#160;&#160;If the Claimant does not request a review of
the&#160;&#160;Company's Executive Human
Resources&#160;&#160;Department's&#160;&#160;determination by the
Administrator&#160;&#160;within such sixty (60) day period, the Claimant shall
be&#160;&#160;barred and estopped from challenging the determination of the
Company's Executive Human Resources Department.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.3&#160;&#160;&#160;&#160;&#160;&#160;Review
of Decision.&#160;&#160;Within&#160;&#160;sixty (60) days after
the&#160;&#160;Administrator's receipt of a
request&#160;&#160;for&#160;&#160;review,&#160;&#160;the&#160;&#160;Administrator&#160;&#160;will
review the determination&#160;&#160;of the Company's&#160;&#160;Executive Human
Resources&#160;&#160;Department.&#160;&#160;After&#160;&#160;considering&#160;&#160;all&#160;&#160;materials&#160;&#160;presented&#160;&#160;by&#160;&#160;the&#160;&#160;Claimant,&#160;&#160;&#160;the
Administrator&#160;&#160;will&#160;&#160;render&#160;&#160;a&#160;&#160;written&#160;&#160;opinion,&#160;&#160;written&#160;&#160;in
a manner designed to be understood&#160;&#160;by the
Claimant,&#160;&#160;setting forth the specific reasons for
the&#160;&#160;decision
and&#160;&#160;containing&#160;&#160;specific&#160;&#160;references&#160;&#160;to
the&#160;&#160;pertinent provisions of this Program on which the decision is
based. If special&#160;&#160;circumstances&#160;&#160;require&#160;&#160;that
the sixty (60) day time period be&#160;&#160;extended, the Administrator will so
notify the Claimant and will render&#160;&#160;the decision as soon as
possible,&#160;&#160;but no later than one hundred twenty (120) days after
receipt of the request for review.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The&#160;&#160;Administrator&#160;&#160;shall
serve as the final review committee under the&#160;&#160;Program and shall have
sole
and&#160;&#160;complete&#160;&#160;discretionary&#160;&#160;authority&#160;&#160;to
determine&#160;&#160;conclusively&#160;&#160;for all parties,&#160;&#160;and
in&#160;&#160;accordance&#160;&#160;with the&#160;&#160;terms of the documents
or&#160;&#160;instruments&#160;&#160;governing the Program,&#160;&#160;any and
all&#160;&#160;questions&#160;&#160;&#160;arising&#160;&#160;from&#160;&#160;&#160;administration&#160;&#160;&#160;of&#160;&#160;the&#160;&#160;Program&#160;&#160;and
interpretation&#160;&#160;of&#160;&#160;all&#160;&#160;Program&#160;&#160;&#160;provisions,&#160;&#160;&#160;determination&#160;&#160;of&#160;&#160;all&#160;&#160;questions&#160;&#160;&#160;relating&#160;&#160;to&#160;&#160;participation&#160;&#160;of&#160;&#160;Eligible&#160;&#160;&#160;Executives&#160;&#160;and
eligibility&#160;&#160;for benefits,&#160;&#160;determination&#160;&#160;of all
relevant&#160;&#160;facts,&#160;&#160;the&#160;&#160;amount and type
of&#160;&#160;benefits&#160;&#160;payable to
any&#160;&#160;Participant,&#160;&#160;Assignee
or&#160;&#160;Beneficiary,&#160;&#160;and&#160;&#160;the&#160;&#160;construction&#160;&#160;of&#160;&#160;all&#160;&#160;terms&#160;&#160;of&#160;&#160;the&#160;&#160;Program.&#160;&#160;Decisions
by the&#160;&#160;Administrator&#160;&#160;shall be conclusive and binding on
all parties and not subject to further review.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
any case, a&#160;&#160;Participant&#160;&#160;may have further&#160;&#160;rights
under
ERISA.&#160;&#160;The&#160;&#160;Program&#160;&#160;provisions&#160;&#160;require&#160;&#160;that&#160;&#160;Participants&#160;&#160;pursue&#160;&#160;all
claim and appeal rights described above before they seek any other legal
recourse&#160;&#160;regarding claims for benefits.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;8.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment
and Termination</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.0&#160;&#160;&#160;&#160;&#160;&#160;Continuation&#160;&#160;&#160;of&#160;&#160;Program.&#160;&#160;&#160;The&#160;&#160;Company&#160;&#160;does&#160;&#160;not&#160;&#160;&#160;guarantee&#160;&#160;&#160;the&#160;&#160;continuation
of the Program or any benefits during&#160;&#160;employment or at or during
retirement, nor does the Company guarantee any specific level
of&#160;&#160;benefits.&#160;&#160;Benefits&#160;&#160;are&#160;&#160;provided&#160;&#160;under
the Program at the&#160;&#160;Company's&#160;&#160;discretion&#160;&#160;and do
not create a
contract&#160;&#160;of&#160;&#160;employment.&#160;&#160;Neither&#160;&#160;the
establishment&#160;&#160;nor the&#160;&#160;continuance&#160;&#160;of the Plan
shall be&#160;&#160;construed as conferring&#160;&#160;any legal rights upon
any&#160;&#160;Eligible&#160;&#160;Executive or any other&#160;&#160;person for
continuation of employment,&#160;&#160;nor shall such establishment
or&#160;&#160;continuance&#160;&#160;interfere&#160;&#160;with the right of the
Company to discharge&#160;&#160;any&#160;&#160;Eligible Executive without regard
to the existence of the Program.&#160;&#160;The Company&#160;&#160;intends to
continue&#160;&#160;the
Program&#160;&#160;indefinitely;&#160;&#160;however,&#160;&#160;the&#160;&#160;Board&#160;&#160;reserves
the right to amend or terminate the Program at any time&#160;&#160;pursuant to
Section 8.1.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.1&#160;&#160;&#160;&#160;&#160;&#160;Amendment
or Termination. The Board or pursuant to delegated
authority,&#160;&#160;the&#160;&#160;Chairman&#160;&#160;of
the&#160;&#160;Board&#160;&#160;(or in
his&#160;&#160;absence&#160;&#160;the&#160;&#160;Executive&#160;&#160;Vice&#160;&#160;President
- Human Resources)&#160;&#160;("Delegate"),&#160;&#160;may amend, modify,
suspend&#160;&#160;or&#160;&#160;change&#160;&#160;the&#160;&#160;Program&#160;&#160;from&#160;&#160;time
to&#160;&#160;time,&#160;&#160;and the&#160;&#160;Board&#160;&#160;(or
its&#160;&#160;Delegate) may terminate the Program at any time. Program
amendments may include,&#160;&#160;but are not limited to, elimination or
reduction in the level or type of benefits provided to any class or classes of
employees.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;&#160;9.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
Provisions</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.0&#160;&#160;&#160;&#160;&#160;&#160;Named
Fiduciary.&#160;&#160;The&#160;&#160;Administrator is hereby designated as the
"named&#160;&#160;fiduciary" under this Program. The named fiduciary shall have
authority&#160;&#160;to control and manage the operation and administration of
this Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.1&#160;&#160;&#160;&#160;&#160;&#160;Effective&#160;&#160;Date.
The effective date of this Program shall be October 1, 1999.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.2&#160;&#160;&#160;&#160;&#160;&#160;Calendar&#160;&#160;Year&#160;&#160;Program.&#160;&#160;All
Program&#160;&#160;records shall be maintained on a calendar-year basis,
beginning January 1 and ending December 31, except that
Program&#160;&#160;records&#160;&#160;for the year 1999 shall be maintained for
the period beginning October 1, 1999 and ending December 31, 1999.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.3&#160;&#160;&#160;&#160;&#160;&#160;Notice
Under&#160;&#160;Program.&#160;&#160;Any notice to be given under this Program
shall be in&#160;&#160;writing&#160;&#160;and&#160;&#160;shall be either
delivered&#160;&#160;in person or mailed by United States
Mail,&#160;&#160;first-class&#160;&#160;postage pre-paid.&#160;&#160;If notice
is to be given to the&#160;&#160;Administrator&#160;&#160;by mail, such notice
shall be addressed as
indicated&#160;&#160;below&#160;&#160;and&#160;&#160;mailed&#160;&#160;to
the&#160;&#160;Administrator&#160;&#160;at the&#160;&#160;following
address:</font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
Vice President - Human Resources</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AT&amp;T
Corp.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">295 North
Maple Avenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Basking
Ridge NJ 07920</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
notice is to be given to a Participant,&#160;&#160;Policyholder or Assignee by
United States Mail, such notice shall be addressed to the address
shown&#160;&#160;as
such&#160;&#160;Participant's,&#160;&#160;Policyholder's&#160;&#160;or
Assignee's&#160;&#160;address then on&#160;&#160;file with the Company's
Executive Human Resources Department. Any
party&#160;&#160;may&#160;&#160;change&#160;&#160;the&#160;&#160;address&#160;&#160;to
which&#160;&#160;notices&#160;&#160;shall be mailed by giving written notice of
such change of address.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.4&#160;&#160;&#160;&#160;&#160;&#160;Binding&#160;&#160;Effect.&#160;&#160;This&#160;&#160;Program&#160;&#160;shall
be&#160;&#160;binding&#160;&#160;upon the&#160;&#160;Company's successors and
assigns, and upon the Participants, the Policyholders, and their Assignees,
Beneficiaries,&#160;&#160;heirs, executors, and administrators.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.5&#160;&#160;&#160;&#160;&#160;&#160;Welfare
Plan Under ERISA.&#160;&#160;The Program is intended to constitute an "employee
welfare benefit plan" within the meaning of Section 3(1) of ERISA, covering a
select group of management or highly compensated employees.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.6&#160;&#160;&#160;&#160;&#160;&#160;Plan
Document.&#160;&#160;This Program document is the plan document required by
ERISA.&#160;&#160;The&#160;&#160;information&#160;&#160;&#160;contained&#160;&#160;herein&#160;&#160;provides&#160;&#160;the&#160;&#160;final&#160;&#160;and&#160;&#160;exclusive&#160;&#160;statement&#160;&#160;of
the&#160;&#160;terms of
the&#160;&#160;Program.&#160;&#160;Unless&#160;&#160;otherwise&#160;&#160;authorized
by the Board or its delegate,&#160;&#160;no amendment or&#160;&#160;modification
to this Program shall be effective until reduced to writing and adopted pursuant
to Section 8.1. This document legally governs the operation of&#160;&#160;the
Program,&#160;&#160;and any claim of right
or&#160;&#160;entitlement&#160;&#160;under the Program shall be
determined&#160;&#160;solely in accordance with its
provisions&#160;&#160;pursuant&#160;&#160;to
the&#160;&#160;provisions&#160;&#160;of&#160;&#160;Section&#160;&#160;7. To
the&#160;&#160;extent&#160;&#160;that&#160;&#160;there are any
inconsistencies&#160;&#160;between&#160;&#160;the&#160;&#160;terms&#160;&#160;of
the&#160;&#160;Insurance&#160;&#160;Policy&#160;&#160;or any
related&#160;&#160;materials&#160;&#160;and the terms of
this&#160;&#160;document,&#160;&#160;the terms of this
document&#160;&#160;shall&#160;&#160;control and govern the&#160;&#160;operation
of the&#160;&#160;Program. No other evidence, whether written or oral, shall be
taken into account in determining&#160;&#160;the&#160;&#160;right of
an&#160;&#160;Eligible&#160;&#160;Executive,&#160;&#160;a&#160;&#160;Participant,
a Policyholder,&#160;&#160;a&#160;&#160;Beneficiary&#160;&#160;or an
Assignee,&#160;&#160;as&#160;&#160;applicable,&#160;&#160;to any benefit of any
type provided under the Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.7&#160;&#160;&#160;&#160;&#160;&#160;Governing&#160;&#160;Law.
To the extent not preempted by applicable&#160;&#160;federal law, the
Program&#160;&#160;shall be&#160;&#160;governed by
and&#160;&#160;construed&#160;&#160;and&#160;&#160;interpreted&#160;&#160;in
accordance&#160;&#160;with the laws of the State of New
Jersey&#160;&#160;(irrespective&#160;&#160;of the choice of laws principles of
the State of New Jersey).</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.8&#160;&#160;&#160;&#160;&#160;&#160;Severability.&#160;&#160;If
any&#160;&#160;provision&#160;&#160;of this&#160;&#160;Program&#160;&#160;or
the&#160;&#160;application thereof&#160;&#160;to
any&#160;&#160;person&#160;&#160;or&#160;&#160;circumstance&#160;&#160;shall&#160;&#160;be
held by a court of
competent&#160;&#160;jurisdiction&#160;&#160;to&#160;&#160;be&#160;&#160;invalid&#160;&#160;or&#160;&#160;unenforceable
under any applicable law, such event&#160;&#160;shall not affect or render
invalid or unenforceable&#160;&#160;he remainder&#160;&#160;of
the&#160;&#160;Program and shall not affect the application&#160;&#160;of
any&#160;&#160;provision&#160;&#160;of the Program to any
other&#160;&#160;person or circumstance.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.9&#160;&#160;&#160;&#160;&#160;&#160;Headings.&#160;&#160;The
headings and subheadings preceding the Sections of this Program have
been&#160;&#160;inserted solely as a matter of convenience and reference, and
shall not, in any manner, define or limit the scope or intent of any provision
of this Program.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.10&#160;&#160;&#160;&#160;&#160;Procedural
Rules. The Administrator shall establish rules, forms and procedures for the
administration of this Program from time to time.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.11&#160;&#160;&#160;&#160;&#160;Construction.&#160;&#160;The
use of the singular form herein shall be deemed to include the plural form, and
vice versa, as appropriate. All references to Sections contained herein refer to
Sections of this Program, unless otherwise stated. The use of the words
"hereof," "herein," "hereunder," and words of similar import shall refer to this
entire Program, and not to
any&#160;&#160;particular&#160;&#160;Section,&#160;&#160;subsection,&#160;&#160;clause,&#160;&#160;paragraph&#160;&#160;or
other subdivision&#160;&#160;of this&#160;&#160;Program,&#160;&#160;unless
the&#160;&#160;context&#160;&#160;clearly&#160;&#160;indicates
otherwise.&#160;&#160;The word "or" shall not be
exclusive;&#160;&#160;"may&#160;&#160;not"&#160;&#160;is prohibitive and not
permissive.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br></div>
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