NEWHALL LAND & FARMING CO /CA/
EX-10.A
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<p align=center><b><font size=2>AMENDMENT NO. 5<br>
THE NEWHALL LAND AND FARMING COMPANY<br>
RETIREMENT PLAN<br>
(Restatement Effective January 1, 1989)</font></b></p>

<table border=0 cellspacing=0 cellpadding=0 width="100%">
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  <td width="100%" colspan=7 valign=top><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Newhall Land
  and Farming Company Retirement Plan (the &#147;Plan&#148;), as restated in its entirety
  effective January 1, 1989, and subsequently amended, is further amended
  effective as of the dates set forth below, as follows:</font></td>
 </tr>
 <tr>
  <td width="100%" colspan=7 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top><font size=2>1.</font></td>
  <td width="93%" colspan=2 valign=top><font size=2>Subsection 1.18(a) defining &#147;Eligible Employee&#148;
  is amended, effective as of January&nbsp;1,&nbsp;2001, to read:</font></td>
  <td   width="1%" colspan=2>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" colspan=2 valign=top>&nbsp;</td>
  <td   width="1%" colspan=2>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" colspan=2 valign=top><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any individual who performs services
  for a Participating Company solely as a Leased Employee, independent
  contractor, consultant or employee of a third-party employment agency or is
  classified as such by the Participating Company for whom such services are
  performed (whether or not such classification is upheld upon governmental or
  judicial review); and</font></td>
  <td   width="1%" colspan=2>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" colspan=2 valign=top>&nbsp;</td>
  <td   width="1%" colspan=2>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top><font size=2>2.</font></td>
  <td width="93%" colspan=3 valign=top><font size=2>Section 8.02 is amended in its entirety,
  effective as of January&nbsp;1,&nbsp;2000, to read:</font></td>
  <td   width="0%">&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" colspan=3 valign=top>&nbsp;</td>
  <td   width="0%">&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" valign=top><font size=2>An annual benefit is a retirement benefit that is
  payable annually in the form of a straight life annuity under all qualified
  defined benefit plans maintained by an Affiliated Company, excluding any
  benefits attributable to the Participant&#146;s contributions or rollover
  contributions, if any, to the plans or to any assets transferred from a
  qualified plan that was not maintained by an Affiliated Company.&nbsp; If the benefit is payable in a form other
  than a straight life annuity (and other than a form subject to Code Section
  417(e)(3)), the amount must be adjusted to an actuarially equivalent straight
  life annuity determined by using the greater of the interest rate specified
  in the Plan&#146;s definition of Actuarial Equivalent or five percent.&nbsp; If the benefit is payable in a form
  subject to Code Section 417(e)(3), the amount must be adjusted to an
  actuarially equivalent straight life annuity determined by using the greater
  of the interest rate specified in the Plan&#146;s definition of Actuarial
  Equivalent or the applicable interest rate defined in Code Section
  417(e)(3).&nbsp; No actuarial adjustment is
  required to account for the value of a qualified joint and survivor annuity
  or any other joint and survivor annuity, provided the Participant&#146;s spouse is
  the sole Beneficiary, the value of benefits which are not directly related to
  retirement benefits (such as qualified disability benefits, preretirement
  death benefits, or postretirement medical benefits) or for the value of
  postretirement cost-of-living increases made in accordance with Treasury
  Regulations.</font></td>
  <td   width="1%" colspan=3>&nbsp;</td>
 </tr>
 <tr>
  <td   width="0%">&nbsp;</td>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="93%" valign=top>&nbsp;</td>
  <td   width="1%" colspan=3>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top><font size=2>3.</font></td>
  <td width="94%" colspan=4 valign=top><font size=2>The following provisions are repealed, effective
  as of January&nbsp;1,&nbsp;2000, and their terms shall have no force or
  effect, as applied to the determination of the accrued benefit of a
  Participant who performs an Hour of Service on or after
  January&nbsp;1,&nbsp;2000:&nbsp; Section
  8.06 in its entirety and Section 8.08(a), including the introduction.</font></td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top>&nbsp;</td>
  <td width="94%" colspan=4 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top><font size=2>4.</font></td>
  <td width="94%" colspan=4 valign=top><font size=2>Section 8.09 is amended, effective as of
  January&nbsp;1,&nbsp;2000, to read:</font></td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top>&nbsp;</td>
  <td width="94%" colspan=4 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top>&nbsp;</td>
  <td width="94%" colspan=4 valign=top><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Freeze
  Date</u>.&nbsp; In no event shall the
  benefit payable to a Participant determined as if the Participant had
  separated from service as of December&nbsp;31,&nbsp;1999 be less than the
  Participant&#146;s Accrued Benefit determined as if the Participant had separated
  from service on or after January&nbsp;1,&nbsp;2000.</font></td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top>&nbsp;</td>
  <td width="94%" colspan=4 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top><font size=2>5.</font></td>
  <td width="94%" colspan=4 valign=top><font size=2>Subsection 14.02(a) is amended, effective August
  5, 1997, to read:</font></td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top>&nbsp;</td>
  <td width="94%" colspan=4 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="94%" colspan=5 valign=top><font size=2>Subject to subsection (b) and with respect to
  certain judgments, orders or decrees issued or a settlement entered into, on
  or after August&nbsp;5,&nbsp;1997 in accordance with Code Sections
  401(a)(13)(C) and (D), benefits under the Plan may not be assigned or
  hypothecated, and except to the extent required by law, no such benefits
  shall be subject to legal process or attachment for the payment of any claim
  against any person entitled to receive the same.</font></td>
 </tr>
 <tr>
  <td width="5%" colspan=2 valign=top>&nbsp;</td>
  <td width="94%" colspan=5 valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" colspan=3 valign=top><font size=2>6.</font></td>
  <td width="94%" colspan=4 valign=top><font size=2>Subsection 14.11(a) is amended, effective
  January&nbsp;1,&nbsp;2000, to read:</font></td>
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  <td width="5%" valign=top>&nbsp;</td>
  <td width="94%" valign=top><font size=2>An
  Eligible Rollover Distribution is any distribution of all or any portion of
  the balance to the credit of the Distributee, except that an Eligible
  Rollover Distribution does not include:&nbsp;
  any distribution that is one of a series of substantially equal
  periodic payments (not less frequently than annually) made for the life (or
  life expectancy) of the Distributee or the joint lives (or joint life
  expectancies) of the Distributee and the Distributee&#146;s designated
  Beneficiary, or for a specified period of 10 years or more; any distribution
  to the extent that distribution is required under Section 401(a)(9) of the
  Code; the portion of any distribution that is not includable in gross income;
  and any hardship distribution to the extent described in Code Section
  401(k)(2)(B)(i)(IV).</font></td>
 </tr>
 <tr>
  <td width="5%" valign=top>&nbsp;</td>
  <td width="94%" valign=top>&nbsp;</td>
 </tr>
 <tr>
  <td width="5%" valign=top><font size=2>7.</font></td>
  <td width="94%" valign=top><font size=2>A new Section 14.14 is added, effective as of
  December&nbsp;12,&nbsp;1994, to read:</font></td>
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  <td width="5%" valign=top>&nbsp;</td>
  <td width="94%" valign=top>&nbsp;</td>
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  <td width="5%" valign=top>&nbsp;</td>
  <td width="94%" valign=top><u><font size=2>USERRA Compliance</font></u><font size=2>.&nbsp;
  Notwithstanding any provision of this Plan to the contrary,
  contributions, benefits, and service credit with respect to qualified
  military service shall be provided in accordance with Code Section 414(u).</font></td>
 </tr>
</table>

<p><b><font size=2>&nbsp;</font></b></p>

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  <td width="100%" valign=top><b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS WHEREOF,</font></b><font   size=2> Newhall Management Corporation, managing general
  partner of Newhall Management Limited Partnership, managing general partner
  of The Newhall Land and Farming Company (a California Limited Partnership)
  has caused this Amendment No. 5 to be executed on behalf of such partnership
  by its duly authorized officer as of this 18th day of July 2001.</font></td>
 </tr>
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<p><font size=2>&nbsp;</font></p>

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  <td width="33%" valign=top>&nbsp;</td>
  <td width="66%" colspan=2 rowspan=2 valign=top><font   size=2>THE
  NEWHALL LAND AND FARMING COMPANY (A CALIFORNIA LIMITED PARTNERSHIP)</font></td>
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  <td width="33%" valign=top>&nbsp;</td>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top>&nbsp;</td>
  <td width="61%" valign=top>&nbsp;</td>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top><font size=2>By:</font></td>
  <td width="61%" valign=top><font size=2>NEWHALL MANAGEMENT LIMITED PARTNERSHIP,<br>
  MANAGING GENERAL PARTNER</font></td>
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 <tr>
  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top>&nbsp;</td>
  <td width="61%" valign=top>&nbsp;</td>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top><font size=2>By:</font></td>
  <td width="61%" valign=top><font size=2>NEWHALL MANAGEMENT CORPORATION,</font></td>
 </tr>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top>&nbsp;</td>
  <td width="61%" valign=top><font size=2>MANAGING GENERAL PARTNER</font></td>
 </tr>
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  <td width="33%" valign=top><font size=2>&nbsp;</font>&nbsp;</td>
  <td width="5%" valign=top>&nbsp;</td>
  <td width="61%" valign=top>&nbsp;</td>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top><font size=2>By:</font></td>
  <td width="61%" valign=top><font size=2>/s/ Trude A. Tsujimoto</font>
<hr size=1 width="75%" noshade color=black align=left></td>
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  <td width="33%" valign=top>&nbsp;</td>
  <td width="5%" valign=top><font size=2>Title:</font></td>
  <td width="61%" valign=top><font size=2>Secretary</font></td>
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