Director Deferred Compensation Plan – Target Corp.

TARGET CORPORATION

DDCP

(2011 PLAN STATEMENT)

Effective June 8, 2011

As Amended and Restated

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TARGET CORPORATION

DDCP

(2011 Plan Statement)

TABLE OF CONTENTS

SECTION 1 INTRODUCTION; DEFINITIONS	1
1.1 Name of Plan; History	1
1.2 Definitions	1
1.2.1 Account	1
1.2.2 Affiliate	1
1.2.3 Beneficiary	1
1.2.4 Board	1
1.2.5 Change-in-Control	1
1.2.6 Code	2
1.2.7 [Intentionally left blank.]	3
1.2.8 Company	3
1.2.9 Crediting Rate Alternative	3
1.2.10 Deferral Credit	3
1.2.11 Director	3
1.2.12 Earnings Credit	3
1.2.13 Effective Date	3
1.2.14 Newly Eligible Director	3
1.2.15 Participant	3
1.2.16 Participating Employer	3
1.2.17 Plan	3
1.2.18 Plan Administrator	4
1.2.19 Plan Rules	4
1.2.20 Plan Statement	4
1.2.21 Plan Year	4
1.2.22 Retainer	4
1.2.23 Specified Employee	4
1.2.24 Termination of Employment	4
1.2.25 Trust	4
1.2.26 Unforeseeable Emergency	4
1.2.27 Valuation Date	4
SECTION 2 PARTICIPATION AND DEFERRAL ELECTIONS	5
2.1 Eligibility	5
2.2 Termination of Participation	5
2.3 No Guarantee of Continued Directorship	5
2.4 Deferral Elections	5
2.5 Deferral of Retainers	6
2.6 Elective Deferral Credit	6
2.7 Cancellation of Deferral Elections	6
SECTION 3 ADJUSTMENTS OF ACCOUNTS	7
3.1 Establishment of Accounts	7
3.2 Adjustments of Accounts	7

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3.3 Investment Adjustment	7
3.4 Account Adjustments Upon a Change-in-Control or Plan Termination	7
SECTION 4 VESTING	8
4.1 Participant Accounts	8
SECTION 5 DISTRIBUTION	9
5.1 Distribution Elections	9
5.2 General Requirements	9
5.3 Six-Month Suspension for Specified Employees	10
5.4 Distribution on Account of Death	10
5.5 Distribution on Account of Unforeseeable Emergency	10
5.6 Designation of Beneficiaries	11
5.7 Facility of Payment	12
5.8 Tax Withholding	13
5.9 Application for Distribution	13
5.10 Acceleration of Distributions	13
5.11 Delay of Distributions	13
SECTION 6 SOURCE OF PAYMENTS; NATURE OF INTEREST	14
6.1 Source of Payments	14
6.2 Unfunded Obligation	14
6.3 Establishment of Trust	14
6.4 Spendthrift Provision	14
SECTION 7 ADOPTION, AMENDMENT AND TERMINATION	15
7.1 Adoption	15
7.2 Amendment	15
7.3 Termination and Liquidation	15
SECTION 8 CLAIM PROCEDURES	17
8.1 Claim Procedures	17
8.2 Rules and Regulations	18
8.3 Limitations and Exhaustion	19
SECTION 9 PLAN ADMINISTRATION	21
9.1 Plan Administration	21
9.2 Conflict of Interest	21
9.3 Service of Process	22
9.4 Choice of Law	22
9.5 Responsibility for Delegate	22
9.6 Expenses	22
9.7 Errors in Computations	22
9.8 Indemnification	22
9.9 Notice	22
SECTION 10 CONSTRUCTION	23
10.1 IRC Status	23
10.2 Rules of Document Construction	23
10.3 References to Laws	23

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SECTION 1
INTRODUCTION; DEFINITIONS

1.1 Name of Plan; History. This Plan
(formerly known as the Target Corporation Director Deferred Compensation Plan)
is a non-qualified, unfunded plan established for the purpose of allowing
directors of the Company to defer the receipt of income. This Plan was
originally adopted effective as of January 1, 1997 and was amended at various
times thereafter. Effective January 1, 2005 (and other effective dates as
specifically provided), this Plan was operated in compliance with Code section
409A. Effective January 29, 2006, members of the Board ceased to be eligible to
receive enhanced earnings on their account balances. The Plan, which is
intended to comply with Code section 409A, was amended and restated effective
January 1, 2009. This Plan Statement, which was amended and restated to reflect
Plan administration and amendment changes authorized by the Board on
November 10, 2010 and modification of the Change in Control definition, is
effective as of June 8, 2011.

1.2 Definitions. When the following terms
are used herein with initial capital letters, they shall have the following
meanings:

1.2.1 Account. “Account” means the
separate bookkeeping account representing the separate unfunded and unsecured
general obligation of the Participating Employers established with respect to
each person who is a Participant in this Plan. Within each Participant153s
Account, separate subaccounts shall be maintained to the extent the Plan
Administrator determines it to be necessary or desirable for the administration
of this Plan.

1.2.2 Affiliate. An “Affiliate” is the
Company and all persons, with whom the Company would be considered a single
employer under Code section 414(b) or 414(c).

1.2.3 Beneficiary. “Beneficiary” means an
individual (human being), a trust that is a United Sates person within the
meaning of the Code, a person that has been recognized as a charitable
organization under Code section 170(b), or the Participant153s estate designated
in accordance with Section 5.6 to receive all or a part of the Participant153s
Account in the event of the Participant153s death prior to full distribution
thereof. A person so designated shall not be considered a Beneficiary until the
death of the Participant.

1.2.4 Board. “Board” is the Board of
Directors of the Company, or such committee of the Board of Directors to which
the Board of Directors of the Company has delegated the respective authority.

1.2.5 Change in Control. “Change in
Control” means one of the following:

(a) Individuals who are Continuing Directors cease for any reason
to constitute 50% or more of the directors of the Company; or

(b) 30% or more of the outstanding voting power of the Voting Stock
of the Company is acquired or beneficially owned (within the meaning of
Rule 13d-3 under the Exchange Act) by any Person, other than an entity resulting
from a Business Combination in which clauses (x) and (y) of
Section 1.2.5(c) apply; or

(c) the consummation of a merger or consolidation of the Company
with or into another entity, a statutory share exchange, a sale or other
disposition (in one

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transaction or a series of transactions) of all or substantially all of the
Company153s assets or a similar business combination (each, a “Business
Combination”), in each case unless, immediately following such Business
Combination, (x) all or substantially all of the beneficial owners (within the
meaning of Rule 13d-3 under the Exchange Act) of the Company153s Voting Stock
immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 60% of the voting power of the then outstanding shares of
voting stock (or comparable voting equity interests) of the surviving or
acquiring entity resulting from such Business Combination (including such
beneficial ownership of an entity that, as a result of such transaction, owns
the Company or all or substantially all of the Company153s assets either directly
or through one or more subsidiaries), in substantially the same proportions (as
compared to the other beneficial owners of the Company153s Voting Stock
immediately prior to such Business Combination) as their beneficial ownership of
the Company153s Voting Stock immediately prior to such Business Combination, and
(y) no Person beneficially owns, directly or indirectly, 30% or more of the
voting power of the outstanding voting stock (or comparable equity interests) of
the surviving or acquiring entity (other than a direct or indirect parent entity
of the surviving or acquiring entity, that, after giving effect to the Business
Combination, beneficially owns, directly or indirectly, 100% of the outstanding
voting stock (or comparable equity interests) of the surviving or acquiring
entity); or

(d) approval by the shareholders of a definitive agreement or plan
to liquidate or dissolve the Company.

For purposes of this Section 1.2.5:

“Continuing Director” means an individual (A) who is, as of June 8, 2011, a
director of the Company, or (B) who becomes a director of the Company after
June 8, 2011 and whose initial appointment, or nomination for election by the
Company153s shareholders, was approved by at least a majority of the then
Continuing Directors; provided, however, that any individual whose initial
assumption of office occurs as a result of either an actual or threatened
contested election by any Person (other than the Board of Directors) seeking the
election of such nominee in which the number of nominees exceeds the number of
directors to be elected shall not be a Continuing Director;

“Person” means any individual, firm, corporation or other entity and shall
include any group comprised of any person and any other person with whom such
person or any affiliate or associate (as defined in Rule 14a-1(a) of the
Exchange Act) of such person has any agreement, arrangement or understanding,
directly or indirectly, for the purpose of acquiring, holding, voting or
disposing of any capital stock of the Company;

“Voting Stock” means all then-outstanding capital stock of the Company
entitled to vote generally in the election of directors of the Company: and

“Exchange Act” means the Securities Exchange Act of 1934, as amended and in
effect from time to time, and the regulations promulgated thereunder.

1.2.6 Code. “Code” means the Internal
Revenue Code of 1986, as amended (including, when the context requires, all
regulations, interpretations and rulings issued hereunder).

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1.2.7 [Intentionally left blank.]

1.2.8 Company. “Company” means Target
Corporation, a Minnesota corporation, or any successor thereto.

1.2.9 Crediting Rate Alternative.
“Crediting Rate Alternative” means a hypothetical investment option used for the
purpose of measuring income, gains and losses to the Accounts of Participants
(as if the Accounts had in fact been so invested). The Crediting Rate
Alternatives shall be designated in writing by the Plan Administrator.

1.2.10 Deferral Credit. A “Deferral
Credit” is the amount credited to a Participant153s Account pursuant to
Section 2.6.

1.2.11 Director. “Director” means any
person who is a director of the Company or Participating Employer.

1.2.12 Earnings Credit. “Earnings Credit”
means the investment adjustment credited to a Participant153s Account pursuant to
Section 3.3 or Section 3.4 as applicable.

1.2.13 Effective Date. The “Effective
Date” of this Plan Statement is June 8, 2011, except as otherwise provided.

1.2.14 Newly Eligible Director. “Newly
Eligible Director” means a Director who either (i) was not previously eligible
to participate in this Plan or any other non-qualified, deferred compensation
plans maintained for directors or independent contractors by a Participating
Employer or other Affiliate, (ii) had been paid all amounts previously deferred
under all non-qualified, deferred compensation plans maintained for directors or
independent contractors by a Participating Employer or other Affiliate and had
ceased to be eligible to continue to participate in such plans on or before the
date of payment of all amounts due under such plans, or (iii) was not eligible
to participate in any non-qualified deferred compensation plans (other than the
accrual of earnings) maintained for directors or independent contractors by a
Participating Employer or other Affiliate at any time during the 24-month period
ending on the date the Director has again become eligible to participate in the
Plan.

1.2.15 Participant. A “Participant” is a
Director who becomes a Participant in this Plan in accordance with the
provisions of Section 2. A Director who has become a Participant shall be
considered to continue as a Participant in this Plan until the date when the
Participant no longer has any Account under this Plan, or the date of the
Participant153s death, if earlier.

1.2.16 Participating Employer.
“Participating Employer” means the Company and each other Affiliate
that, with the consent of the Plan Administrator adopts this Plan. A
Participating Employer shall cease to be a Participating Employer on the date it
ceases to be an Affiliate.

1.2.17 Plan. “Plan” means the
nonqualified, unfunded income deferral program maintained by the Company and
established for the benefit of Participants eligible to participate therein, as
set forth in this Plan Statement. As used herein, “Plan” does not refer to the
documents pursuant to which this Plan is maintained. That document is referred
to herein as the “Plan Statement”. The Plan shall be referred to as the “Target
Corporation DDCP” (formerly known as the Target Corporation Director Deferred
Compensation Plan).

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1.2.18 Plan Administrator. “Plan
Administrator” means the individual designated in Sec. 10.1.1, or, if
applicable, its delegate.

1.2.19 Plan Rules. “Plan Rules” are rules,
policies, practices or procedures adopted by the Plan Administrator or its
delegate pursuant to Section 9.1.5.

1.2.20 Plan Statement. “Plan Statement”
means this document entitled “Target Corporation DDCP (2011 Plan Statement),” as
adopted by the Company, effective as of June 8, 2011, as the same may be amended
from time to time.

1.2.21 Plan Year. “Plan Year” means the
period from January 1 through December 31.

1.2.22 Retainer. “Retainer” means the
total cash fees paid to Participant for service on the Board (or any committee
there of).

1.2.23 Specified Employee. For purposes of
complying with the requirements of Code section 409A(a)(2)(B)(i) (relating to
the 6 month suspension of certain benefit distributions), an individual is a
“Specified Employee” if on his or her Termination of Employment, the Company or
other Affiliate has stock that is traded on an established securities market
within the meaning of Code section 409A(a)(2)(B) and such individual is a “key
employee” (defined below). For this purpose, an individual is a “key employee”
during the 12-month period beginning on April 1 immediately following the
calendar year in which the individual was employed by the Company and other
Affiliates, and satisfied, at any time within such calendar year, the
requirements of Code section 416(i)(1)(A)(i), (ii) or (iii) (without regard to
Code section 416(i)(5)). An individual will not be treated as a Specified
Employee if the individual is not required to be treated as a Specified Employee
under Treasury Regulations issued under Code section 409A.

1.2.24 Termination of Employment.
“Termination of Employment” means a severance of a Participant153s
directorship, and all independent contractor relationships, with the Company,
each Participating Employer and all Affiliates, for any reason. Notwithstanding
the foregoing, a Termination of Employment shall not occur unless such
termination also qualifies as a “separation from service,” as defined under Code
section 409A and related guidance thereunder.

1.2.25 Trust. “Trust” means the Target
Corporation Deferred Compensation Trust Agreement, dated January 1, 2009 by and
between the Company and State Street Bank and Trust Company, as it is amended
from time to time, or similar trust agreement.

1.2.26 Unforeseeable Emergency.
“Unforeseeable Emergency” means a severe financial hardship to the
Participant resulting from an illness or accident of the Participant, the
Participant153s spouse, or a dependent (within the meaning of Code section 152(a))
of the Participant, loss of the Participant153s property due to casualty, or other
similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant, but only if and to the extent such
Unforeseeable Emergency constitutes an “unforeseeable emergency” under Code
section 409A.

1.2.27 Valuation Date. “Valuation Date”
means each business day on which the New York Stock Exchange is open.

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SECTION 2
PARTICIPATION AND DEFERRAL ELECTIONS

2.1 Eligibility. A Director is eligible to
participate in this Plan in accordance with and subject to the requirements of
this Plan.

2.1.1 Eligibility for Newly Eligible Director.
A Newly Eligible Director is eligible to participate in this Plan on
the date that is 30 days after he or she becomes a Director.

2.1.2 Initial Enrollment. A Director
shall, as a condition of participation in this Plan, complete such forms and
make such elections in accordance with Plan Rules as the Plan Administrator may
require for the effective administration of this Plan.

2.2 Termination of Participation. Except
as otherwise specifically provided in this Plan Statement or by the Plan
Administrator, a Director who ceases to be a Director is not eligible to
continue to participate in the Plan, provided, that any deferral elections in
effect, and irrevocable, will continue to apply with respect to any Retainers.
The Participant153s Account will continue to be governed by the terms of the Plan
until such time as the Participant153s Account balance is paid in accordance with
the terms of the Plan. A Participant or Beneficiary will cease to be such as of
the date on which his or her entire Account balance has been distributed.

2.3 No Guarantee of Continued Directorship.
Participation in this Plan does not constitute a guarantee or contract
with any Participating Employer guaranteeing that the Director will continue to
be a director. Such participation shall in no way interfere with any rights the
shareholders of a Participating Employer would have in the absence of such
participation to determine the duration of the director153s service.

2.4 Deferral Elections. A Director who
satisfies the eligibility requirements of Section 2 may, at the time and in the
manner provided hereunder, elect to defer the receipt of his or her Retainer.

2.4.1 General. Except as otherwise
provided in this Plan, an election shall be made before the beginning of the
Plan Year during which the Participant performs services for which the Retainer
is earned. The election must designate the percentage of the Retainer which
shall be deferred under this Plan. In accordance with Plan Rules, the Plan
Administrator will determine the manner and timing required to file a deferral
election. No deferral election shall be effective unless prior to the deadline
for making such election, the Participant has filed with the Plan Administrator,
in accordance with Plan Rules, an insurance consent form permitting the
Participating Employer or Company to purchase and maintain life insurance
coverage on the Director with the Participating Employer or Company as the
beneficiary. An election to defer the Retainer for the Plan Year or other
period is irrevocable once it has been accepted by the Plan Administrator and
the deadline for making such election has expired, except as otherwise provided
under this Plan.

2.4.2 Newly Eligible Director. For a Newly
Eligible Director, the deferral election may be made after the first day of a
Plan Year provided it is made within 30 days after becoming eligible to
participate in this Plan. Such a deferral election by a Newly Eligible Director
is irrevocable once it has been received by the Plan Administrator and the
deadline for making such election has expired, except as otherwise provided
under this Plan. Such election will be

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effective with respect to Retainers for services commencing with the next
full calendar quarter after the deferral election becomes irrevocable.

2.4.3 Terminations of Employment. A
Participant who completes a deferral election in accordance with this
Section 2.4, but who has a Termination of Employment prior to the deadline for
making such election has expired, will be deemed to have made no deferral
election for the respective period.

2.5 Deferral of Retainers. A Participant153s
election to defer a Retainer is subject to the following requirements:

2.5.1 A deferral election will be effective with respect to
the first Retainer paid for services performed during the Plan Year and such
election will remain in effect through the last Retainer paid for services
performed during the Plan Year.

2.5.2 The Retainer deferral percentage may not exceed 100%.

2.6 Elective Deferral Credit. The Plan
Administrator shall credit to the Account of each Participant the amount, if
any, of the Retainer the Participant elected to defer pursuant to this
Section 2. Such amount shall be credited as nearly as practicable as of the
time or times when the Retainer would have been paid to the Participant but for
the election to defer.

2.7 Cancellation of Deferral Elections.
Notwithstanding any provisions in the Plan to the contrary, an election
to defer under this Section will be cancelled for the remaining portion of the
Plan Year in the event the Participant has received a distribution on account of
an Unforeseeable Emergency under Section 5.5. The revocation shall be made at
the time and in the manner specified in Plan Rules and must otherwise comply
with the requirements of Section 5.5.

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SECTION 3

ADJUSTMENTS OF ACCOUNTS

3.1 Establishment of Accounts. There shall
be established for each Participant an Account which shall be adjusted as
provided under Section 3.

3.2 Adjustments of Accounts. On each
Valuation Date, the Plan Administrator shall cause the value of the Account (or
subaccount) to be increased (or decreased) for distributions, withdrawals,
credits, debits and investment income, gains or losses charged to the Account.

3.3 Investment Adjustment. The investment
income, gains and losses shall be determined for the Accounts in accordance with
the following:

3.3.1 Participant Elections. In accordance
with Plan Rules and procedures established by the Plan Administrator, each
Participant shall prospectively elect, as part of the initial enrollment
process, and from time to time thereafter, one or more Crediting Rate
Alternatives that shall be used to measure income, gains and losses until the
next Valuation Date.

3.3.2 Default Rate. If a Participant fails
to designate one or more Crediting Rate Alternatives to be used to measure
income, gains and losses with respect to amounts credited to his or her Account,
such amounts will be deemed to be invested in a default Crediting Rate
Alternative designated by the Plan Administrator in accordance with Plan Rules.

3.3.3 Crediting. As of each Valuation
Date, each Participant153s Account shall be adjusted for income, gains and losses
as if the Account had in fact been invested in the Crediting Rate
Alternative(s) so selected.

3.3.4 Responsibility for Investing
Adjustments. The Plan Administrator will not be responsible in any
manner to any Participant, Beneficiary or other person for any damages, losses
or liabilities, costs or expenses of any kind arising in connection with any
designation or elimination of a Crediting Rate Alternative or a Participant153s
election of a Crediting Rate Alternative.

3.4 Account Adjustments Upon a Change-in-Control or
Plan Termination.

3.4.1 In the event of a Plan termination following a
Change-in-Control under Section 7.3.2 that causes a Trust to be established and
funded pursuant to Section 6.3 where distribution of a Participant153s Account may
not be made from the Trust within 60 days of the event because of restrictions
imposed by Code section 409A, then the Participant153s Account as of the date of
such event will no longer receive adjustments determined pursuant to
Section 3.3.

3.4.2 On and after the date of an event described in
Section 3.4.1, the Account will have an investment adjustment determined at an
annual rate equal to the sum of the 10-Year U.S. Treasury Note plus 2%. The
10-Year U.S. Treasury Note rate will be determined as of the date of the Plan
termination under Section 7.3.2, or if no such rate is available on that date,
the immediately preceding date such rate is available, and reset each calendar
quarter as necessary.

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SECTION 4
VESTING

4.1 Participant Accounts. The Participant
Accounts are fully (100%) vested and non-forfeitable at all times.

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SECTION 5

DISTRIBUTION

5.1 Distribution Elections. Except as otherwise
specifically provided in this Plan, a Participant may irrevocably elect for each
Plan Year the form and time of distribution of the credits made to his or her
Account for such Plan Year.

5.2 General Requirements. A Participant153s
distribution election must be made prior to the date the Participant153s deferral
election becomes irrevocable. Earnings Credits will be distributed in the same
form and time as in effect for the related Account credit. The election shall
be made in the form and manner prescribed by Plan Rules.

5.2.1 Form of Distribution. The Participant may elect
among the following forms of distribution.

(a) Installments. A series
of annual installments made over either five (5) years or ten (10) years
commencing at a time provided under Section 5.2.2(a) or (b). For purposes of
Code section 409A, installment payments will be treated as a series of separate
payments at all times.

(b) Lump Sum. A single lump
sum payment.

5.2.2 Time of Payment. The Participant may elect
among the following distribution commencement times:

(a) Termination of Employment.
Within 60 days following the Participant153s Termination of Employment.

(b) One-Year Anniversary of
Termination of Employment. Within 60 days following the one-year
anniversary of the Participant153s Termination of Employment.

(c) Fixed Payment Date.
Within 60 days of January 1 of the calendar year elected by the Participant at
the time of deferral. If a Participant has a Termination of Employment prior to
the fixed payment date, such amount shall be paid on the earlier of: (i) within
60 days following January 1 in the tenth year following the year of the
Termination of Employment, or (ii) January 1 of the calendar year elected by the
Participant at the time of deferral. The Plan Administrator will establish Plan
Rules, procedures and limitations on establishing the number and times of the
fixed payment dates available for Participants to elect.

(d) Payouts in 2008 and
2009. During 2007 and 2008, consistent with transition relief
available under Code section 409A, and subject to Plan Rules:

(i) Participants had an opportunity to
elect during 2007 to receive a distribution of all or a portion of their Account
valued as of December 31, 2007 to be distributed in January 2008.

(ii) Participants had an opportunity to
elect during 2008 to receive a distribution of all or a portion of their Account
valued as of December 31, 2008 to be distributed in January 2009.

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5.2.3 Installment Amounts. The amount of the annual
installments shall be determined by dividing the amount of the vested portion of
the Account as of the most recent Valuation Date preceding the date the
installment is being paid by the number of remaining installment payments to be
made (including the payment being determined).

5.2.4 Small Benefit. Subject to Section 5.3, in the
event that the vested Account balance of a Participant who has died or
experienced a Termination of Employment under the Plan is less than the
applicable dollar amount under Code section 402(g)(1)(B) for that Plan Year as
of the date on which the Plan Administrator makes such determinations, the Plan
Administrator (on behalf of the Company) reserves the right to have the
Participant153s entire Account paid in the form of a single lump sum payment,
provided the Plan Administrator153s exercise of discretion (on behalf of the
Company) complies with the requirements of Treas. Reg. Sec. 1.409A-3(j)(4)(v).

5.2.5 Default. If for any reason a Participant shall
have failed to make a timely designation of the form or time of distribution
with respect to credits for a Plan Year (including reasons entirely beyond the
control of the Participant), except as provided in Section 5.3, the distribution
shall be made as a single lump sum payment within 60 days following the
Participant153s Termination of Employment.

5.2.6 No Spousal Rights. No spouse, former spouse,
Beneficiary or other person shall have any right to participate in the
Participant153s designation of a form or time of payment.

5.3 Six-Month Suspension for Specified Employees.
Notwithstanding any other provision in this Section 5, if a Participant
is a Specified Employee at Termination of Employment, then any distributions
arising on account of the Participant153s Termination of Employment (other than on
account of death) shall be suspended and not be made until (6) months have
elapsed since such Participant153s Termination of Employment (or, if earlier, upon
the date of the Participant153s death). Any payments that were otherwise payable
during the six-month suspension period referred to in the preceding sentence,
will be paid within 60 days after the end of such six-month suspension period.

5.4 Distribution on Account of Death. Upon the
death of a Participant, the Participant153s Account balance will be paid to the
Participant153s Beneficiary in a single lump sum within 90 days following the
Participant153s death.

5.5 Distribution on Account of Unforeseeable
Emergency.

5.5.1 When Available. A Participant may receive a
distribution from the vested portion of his or her Account (which shall be
deemed to include the deferrals that would have been made but for the
cancellation under Section 5.5.3) if the Plan Administrator determines that such
distribution is on account of an Unforeseeable Emergency and the conditions in
Section 5.5.2 have been fulfilled. To receive such a distribution, the
Participant must request a distribution by filing an application with the Plan
Administrator and furnish such supporting documentation as the Plan
Administrator may require. In the application, the Participant shall specify
the basis for the distribution and the dollar amount to be distributed. If such
request is approved by the Plan Administrator, distribution shall be made in a
lump sum payment within 60 days following the approval by the Plan Administrator
of the completed application.

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5.5.2 Limitations. The amount that may be distributed
with respect to a Participant153s Unforeseeable Emergency shall not exceed the
amounts necessary to satisfy the emergency plus amounts necessary to pay taxes
reasonably anticipated as a result of the distribution, after taking into
account the extent to which such Unforeseeable Emergency is or may be relieved
through reimbursement or compensation by insurance or otherwise by liquidation
of the Participant153s assets (to the extent the liquidation of such assets would
not itself cause severe financial hardship), and/or cancellation of deferrals
pursuant to Section 5.5.3, provided the determination of such limitation is
consistent with the requirements of Code section 409A(a)(2)(B)(ii).

5.5.3 Cancellation of Deferral Elections. As provided
by Section 2.7, in the event of a distribution under Section 5.5.1 the Plan
Administrator will cancel the Participant153s deferral elections for the balance
of the applicable Plan Year.

5.6 Designation of Beneficiaries.

5.6.1 Right to Designate or Revoke.

(a) Each Participant may designate one or
more primary Beneficiaries or secondary Beneficiaries to receive all or a
specified part of such Participant153s vested Account in the event of such
Participant153s death. If fewer than all designated primary or secondary
Beneficiaries predecease the Participant, then the amount of such predeceased
Beneficiary153s portion shall be allocated to the remaining primary or secondary
Beneficiaries, as the case may be.

(b) The Participant may change or revoke any
such designation from time to time without notice to or consent from any spouse,
any person named as Beneficiary or any other person.

(c) No such designation, change or
revocation shall be effective unless completed and filed with the Plan
Administrator in accordance with Plan Rules during the Participant153s lifetime.

5.6.2 Failure of Designation. If a Participant:

(a) fails to designate a Beneficiary,

(b) designates a Beneficiary and thereafter
revokes such designation without naming another Beneficiary, or

(c) designates one or more Beneficiaries and
all such Beneficiaries so designated fail to survive the Participant, such
Participant153s vested Account, shall be payable to the first class of the
following classes of automatic Beneficiaries:

Participant153s surviving spouse

Representative of Participant153s estate

5.6.3 Disclaimers by Beneficiaries. A Beneficiary
entitled to a distribution of all or a portion of a deceased Participant153s
vested Account may disclaim an interest therein subject to the Plan Rules.

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5.6.4 Special Rules. Unless the Participant has
otherwise specified in the Participant153s Beneficiary designation, the following
rules shall apply:

(a) If there is not sufficient evidence that
a person designated as a Beneficiary was living at the time of the death of the
Participant, it shall be deemed that the Beneficiary was not living at the time
of the death of the Participant.

(b) The automatic Beneficiaries specified in
Section 5.6.2 and the Beneficiaries designated by the Participant shall become
fixed at the time of the Participant153s death (subject to Section 5.6.3) so that,
if a Beneficiary survives the Participant but dies before the receipt of all
payments due such Beneficiary hereunder, such remaining payments shall be
payable to the representative of such Beneficiary153s estate.

(c) If the Participant designates as a
Beneficiary the person who is the Participant153s spouse on the date of the
designation, either by name or by relationship, or both, the dissolution,
annulment or other legal termination of the marriage between the Participant and
such person shall automatically revoke such designation. The foregoing shall
not prevent the Participant from designating a former spouse as a beneficiary on
a form that is both executed by the Participant and received by the Plan
Administrator (i) after the date of the legal termination of the marriage
between the Participant and such former spouse and (ii) during the Participant153s
lifetime.

(d) A finalized marriage (other than a common
law marriage) of a Participant subsequent to the date of filing of a Beneficiary
designation shall revoke such designation unless the Participant153s new spouse
had previously been designated as the Beneficiary.

(e) Any designation of a nonspouse
Beneficiary by name that is accompanied by a description of relationship to the
Participant shall be given effect without regard to whether the relationship to
the Participant exists either then or at the Participant153s death.

(f) Any designation of a Beneficiary only
by statement of relationship to the Participant shall be effective only to
designate the person or persons standing in such relationship to the Participant
at the Participant153s death.

5.7 Facility of Payment.

5.7.1 Legal Disability. In case of the legal
disability, including minority, of an individual entitled to receive any payment
under this Plan, payment shall be made, if the Plan Administrator shall be
advised of the existence of such condition:

(a) to the duly appointed guardian,
conservator or other legal representative of such individual, or

(b) to a person or institution entrusted with
the care or maintenance of the incompetent or disable Participant or
Beneficiary, provided such person or institution has satisfied the Plan
Administrator that the payment will be used for the best interest and assist in
the care of such individual, and provided further,

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that no prior claim for said payment has been made by a duly appointed
guardian, conservator or other legal representative of such individual.

5.7.2 Discharge of Liability. Any payment made in
accordance with the foregoing provisions of this Section 5.7 shall constitute a
complete discharge of any liability or obligation of the Participating Employers
under this Plan.

5.8 Tax Withholding. The Participating Employer
(or any other person legally obligated to do so) shall withhold the amount of
any federal, state or local income tax, payroll tax or other tax that the payer
reasonably determines is required to be withheld under applicable law with
respect to any amount payable under this Plan. All benefits otherwise due
hereunder shall be reduced by the amount to be withheld.

5.9 Application for Distribution. A Participant
may be required to make application to receive payment and to complete other
forms and furnish other documentation required by the Plan Administrator.
Distribution shall not be made to any Beneficiary until such Beneficiary shall
have filed an application for benefits in a form acceptable to the Plan
Administrator and such application shall have been approved by the Plan
Administrator and the Plan Administrator has determined that the applicant is
entitled to payment.

5.10 Acceleration of Distributions. The Plan
Administrator in its sole discretion may exercise discretion on behalf of the
Company to accelerate the distribution of any payment under this Plan to the
extent allowed under Code section 409A.

5.11 Delay of Distributions. The Plan Administrator
in its sole discretion may exercise discretion on behalf of the Company to delay
the distribution of any payment under this Plan to the extent allowed under Code
section 409A, including, but not limited to, as necessary to maximize the
Company153s tax deduction as allowed pursuant to Code section 162(m) or to avoid
violation of securities law or other applicable law.

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SECTION 6
SOURCE OF PAYMENTS; NATURE OF INTEREST

6.1 Source of Payments.

6.1.1 General Assets. Each Participating Employer
will pay, from its general assets, the distribution of the Participant153s Account
under Section 5, and all costs, charges and expenses relating thereto.

6.1.2 Trust. Upon a Change-in-Control that causes the
Plan to be terminated under Section 7.3.2, the trustee of the Trust will make
distributions to Participants and Beneficiaries from the Trust in satisfaction
of a Participating Employer153s obligations to make distributions under this Plan
in accordance with and subject to the terms of the Trust to the extent such
payments are not otherwise made directly by the Participating Employer.

6.2 Unfunded Obligation. The obligation of the
Participating Employers to make payments under this Plan constitutes only the
unsecured (but legally enforceable) promise of the Participating Employers to
make such payments. Participants and their Beneficiaries, heirs, successors and
assigns shall have no legal or equitable rights, claims or interests in any
specific property or assets of the Company or a Participating Employer, nor
shall they be beneficiaries of, or have any rights, claims or interests in any
life insurance policies, annuity contracts or the proceeds therefrom owned or
which may be acquired by the Company.

6.3 Establishment of Trust. The Participating
Employers shall have no obligation to establish or maintain any fund, trust or
account (other than a bookkeeping account or reserve) for the purpose of funding
or paying the benefits promised under this Plan except as provided in the
Trust. The Participating Employers may from time to time transfer to the Trust
cash, or other marketable securities or other property acceptable to the trustee
in accordance with the terms of the Trust. If the Participating Employers have
deposited funds in the Trust, such funds shall remain the sole and exclusive
property of the Participating Employer that deposited such funds.

6.4 Spendthrift Provision. Except as otherwise
provided in this Section 6.4, no Participant or Beneficiary shall have any
interest in any Account which can be transferred nor shall any Participant or
Beneficiary have any power to anticipate, alienate, dispose of, pledge or
encumber the same while in the possession or control of the Participating
Employers. The Plan Administrator shall not recognize any such effort to convey
any interest under this Plan. No benefit payable under this Plan shall be
subject to attachment, garnishment, or execution following judgment or other
legal process before actual payment to such person.

6.4.1 Right to Designate Beneficiary. The power to
designate Beneficiaries to receive the Account of a Participant in the event of
such Participant153s death shall not permit or be construed to permit such power
or right to be exercised by the Participant so as thereby to anticipate, pledge,
mortgage or encumber such Participant153s Account or any part thereof, and any
attempt of a Participant so to exercise said power in violation of this
provision shall be of no force and effect and shall be disregarded by the
Participating Employers.

6.4.2 Plan Administrator153s Right to Exercise Discretion.
This Section 6.4 shall not prevent the Plan Administrator from
exercising, in its discretion, any of the applicable powers and options granted
to it under any applicable provision hereof.

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SECTION 7
ADOPTION, AMENDMENT AND TERMINATION

7.1 Adoption. With the prior approval of the Plan
Administrator, an Affiliate may adopt the Plan and become a Participating
Employer by furnishing to the Plan Administrator a certified copy of a
resolution of its board of directors adopting this Plan.

7.2 Amendment.

7.2.1 General Rule. The Company, by action of its
Board of Directors, or by action of a person so authorized by resolution of the
Board of Directors and subject to any limitations or conditions in such
authorization, may at any time amend the Plan, in whole or in part, for any
reason, including but not limited to tax, accounting or insurance changes, a
result of which may be to terminate the Plan for future deferrals provided,
however, that no amendment shall be effective to decrease the benefits, nature
or timing thereof payable under the Plan to any Participant with respect to
deferrals made (and benefits thereafter accruing) prior to the date of such
amendment. Written notice of any amendment shall be given each Participant then
participating in the Plan.

7.2.2 No Oral Amendments. No modification of the
terms of this Plan Statement shall be effective unless it is in writing. No
oral representation concerning the interpretation or effect of this Plan
Statement shall be effective to amend this Plan Statement.

7.3 Termination and Liquidation.

7.3.1 General Rule.

(a) To the extent necessary or reasonable to
comply with any changes in law, the Board may at any time terminate and
liquidate this Plan, provided such termination and liquidation satisfies the
requirements of Code section 409A.

(b) To the extent that a Participant153s
benefit under the Plan will be immediately included in the income of the
Participant, as determined by a court of competent jurisdiction or the Internal
Revenue Service, to the extent permitted under Code section 409A, the Board may
terminate and liquidate this Plan, in whole or in part, as it relates to the
impacted Participant.

7.3.2 Plan Termination and Liquidation on Account of a
Change-in-Control. Upon a Change-in-Control the Plan will terminate
and payment of all amounts under the Plan will be accelerated if and to the
extent provided in this Section 7.3.2.

(a) The Plan will be terminated effective as
of the first date on which there has occurred both (i) a Change-in-Control under
Section 1.2.5, and (ii) a funding of the Trust on account of such
Change-in-Control (referred to herein as the “Plan termination effective date”)
unless, prior to such Plan termination effective date, the Board affirmatively
determines that the Plan will not be terminated as of such effective date. The
Board will be deemed to have taken action to irrevocably terminate the Plan as
of the Plan termination effective date by its failure to affirmatively determine
that the Plan will not terminate as of such date.

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(b) The determination by the Board under
paragraph (a) constitutes a determination that such termination will satisfy the
requirements of Code section 409A, including an agreement by the Company that it
will take such additional action or refrain from taking such action as may be
necessary to satisfy the requirements necessary to terminate and liquidate the
Plan under paragraph (c) below.

(c) In the event the Board does not
affirmatively determine not to terminate the Plan as provided in paragraph (a),
such termination shall be subject to either (i) or (ii), as follows:

(i) If the Change-in-Control qualifies as
a “change in control event” for purposes of Code section 409A, payment of all
amounts under the Plan will be accelerated and made in a lump sum as soon a
administratively practicable but not more than 90 days following the Plan
termination effective date, provided the requirements of Treasury Regulation
Section 1.409A-3(j)(4)(ix)(B) have been satisfied.

(ii) If the Change-in-Control does not
qualify as a “change in control event” for purposes of Code section 409A,
payment of all amounts under the Plan will be accelerated and made in a lump sum
as soon as administratively practicable but not more than 60 days following the
12 month anniversary of the Plan termination effective date, provided the
requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix)(C) have been
satisfied.

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SECTION 8
CLAIM PROCEDURES

8.1 Claims Procedure. Until modified by the Plan
Administrator, the claim and review procedures set forth in this Section shall
be the mandatory claim and review procedures for the resolution of disputes and
disposition of claims filed under this Plan. An application for a distribution
or withdrawal shall be considered as a claim for the purposes of this Section.

8.1.1 Initial Claim. An individual may, subject to
any applicable deadline, file with the Plan Administrator a written claim for
benefits under this Plan in a form and manner prescribed by the Plan
Administrator.

(a) If the claim is denied in whole or in
part, the Plan Administrator shall notify the claimant of the adverse benefit
determination within ninety (90) days after receipt of the claim.

(b) The ninety (90) day period for making the
claim determination may be extended for ninety (90) days if the Plan
Administrator determines that special circumstances require an extension of time
for determination of the claim, provided that the Plan Administrator notifies
the claimant, prior to the expiration of the initial ninety (90) day period, of
the special circumstances requiring an extension and the date by which a claim
determination is expected to be made.

8.1.2 Notice of Initial Adverse Determination. A
notice of an adverse determination shall set forth in a manner calculated to be
understood by the claimant.

(a) The specific reasons for the adverse
determinations,

(b) references to the specific provisions of
this Plan Statement (or other applicable Plan document) on which the adverse
determination is based,

(c) a description of any additional material
or information necessary to perfect the claim and an explanation of why such
material or information is necessary, and

(d) a description of the claim and review
procedures.

8.1.3 Request for Review. Within sixty (60) days
after receipt of an initial adverse benefit determination notice, the claimant
may file with the Plan Administrator a written request for a review of the
adverse determination and may, in connection therewith submit written comments,
documents, records and other information relating to the claim benefits. Any
request for review of the initial adverse determination not filed within sixty
(60) days after receipt of the initial adverse determination notice shall be
untimely.

8.1.4 Claim on Review. If the claim, upon review, is
denied in whole or in part, the Plan Administrator shall notify the claimant of
the adverse benefit determination within sixty (60) days after receipt of such a
request for review.

(a) The sixty (60) day period for deciding
the claim on review may be extended for sixty (60) days if the Plan
Administrator determines that special circumstances require an extension of time
for determination of the claim, provided that the

17

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Plan Administrator notifies the claimant, prior to the expiration of the
initial sixty (60) day period, of the special circumstances requiring an
extension and the date by which a claim determination is expected to be made.

(b) In the event that the time period is
extended due to a claimant153s failure to submit information necessary to decide a
claim on review, the claimant shall have sixty (60) days within which to provide
the necessary information and the period for making the claim determination on
review shall be tolled from the date on which the notification of the extension
is sent to the claimant until the date on which the claimant responds to the
request for additional information or, if earlier, the expiration of sixty (60)
days.

(c) The Plan Administrator153s review of a
denied claim shall take into account all comments, documents, records, and other
information submitted by the claimant relating to the claim, without regard to
whether such information was submitted or considered in the initial benefit
determination.

8.1.5 Notice of Adverse Determination for Claim on Review.
A notice of an adverse determination for a claim on review shall set
forth in a manner calculated to be understood by the claimant.

(a) the specific reasons for the denial,

(b) references to the specific provisions of
this Plan Statement (or other applicable Plan document) on which the adverse
determination is based,

(c) a statement that the claimant is
entitled to receive, upon request and free of charge, reasonable access to, and
copies of, all documents, records, and other information relevant to the
claimant153s claim for benefits,

(d) a statement describing any voluntary
appeal procedures offered by the Plan and the claimant153s right to obtain
information about such procedures, and

8.2 Rules and Regulations.

8.2.1 Adoption of Rules. Any rule not in conflict or
at variance with the provisions hereof may be adopted by the Plan Administrator.

8.2.2 Specific Rules.

(a) No inquiry or question shall be deemed
to be a claim or a request for a review of a denied claim unless made in
accordance with the established claim procedures. The Plan Administrator may
require that any claim for benefits and any request for a review of a denied
claim be filed on forms to be furnished by the Plan Administrator upon request.

(b) All decisions on claims and on requests
for a review of denied claims shall be made by the Plan Administrator unless
delegated as provided for in the Plan, in which case references in this
Section 8 to the Plan Administrator shall be treated as references to the Plan
Administrator153s delegate.

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(c) Claimants may be represented by a lawyer or other
representative at their own expense, but the Plan Administrator reserves the
right to require the claimant to furnish written authorization and establish
reasonable procedures for determining whether an individual has been authorized
to act on behalf of a claimant. A claimant153s representative shall be entitled
to copies of all notices given to the claimant.

(d) The decision of the Plan Administrator on a claim and on a
request for a review of a denied claim may be provided to the claimant in
electronic form instead of in writing at the discretion of the Plan
Administrator.

(e) In connection with the review of a denied claim, the claimant
or the claimant153s representative shall be provided, upon request and free of
charge, reasonable access to, and copies of, all documents, records, and other
information necessary to make a benefit determination accompanies the filing.

(f) The time period within which a benefit determination will be
made shall begin to run at the time a claim or request for review is filed in
accordance with the claims procedures, without regard to whether all the
information necessary to make a benefit determination accompanies the filing.

(g) The claims and review procedures shall be administered with
appropriate safeguards to that benefit claim determinations are made in
accordance with governing plan documents and, where appropriate, the plan
provisions have been applied consistently with respect to similarly situated
claimants.

(h) The Plan Administrator may, in its discretion, rely on any
applicable statute of limitation or deadline as a basis for denial of any claim.

8.3 Limitations and Exhaustion.

8.3.1 Claims. No claim shall be considered
under these administrative procedures unless it is filed with the Plan
Administrator within two (2) years after the Participant knew (or reasonably
should have known) of the general nature of the dispute giving rise to the
claim. Every untimely claim shall be denied by the Plan Administrator without
regard to the merits of the claim.

8.3.2 Lawsuits. No suit may be brought by
or on behalf of any Participant or Beneficiary on any matter pertaining to this
Plan unless the action is commenced in the proper forum within two (2) years
from the earlier of:

(a) the date the Participant knew (or reasonably should have known)
of the general nature of the dispute giving rise to the action, or

(b) the date the claim was denied.

8.3.3 Exhaustion of Remedies. These
administrative procedures are the exclusive means for resolving any dispute
arising under this Plan. As to such matters:

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(a) no Participant or Beneficiary shall be permitted to litigate
any such matter unless a timely claim has been filed under these administrative
procedures and these administrative procedures have been exhausted, and

(b) determinations by the Plan Administrator (including
determinations as to whether the claim was timely filed shall be afforded the
maximum deference permitted by law.

8.3.4 Imputed Knowledge. For the purpose
of applying the deadlines to file a claim or a legal action, knowledge of all
facts that a Participant knew or reasonably should have known shall be imputed
to every claimant who is or claims to be a Beneficiary of the Participant or
otherwise claims to derive an entitlement by reference to the Participant for
the purpose of applying the previously specified periods.

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SECTION 9
PLAN ADMINISTRATION

9.1 Plan Administration

9.1.1 Administrator. The Company153s Vice
President, Pay and Benefits (or any successor thereto) is the “administrator” of
the Plan. Except as expressly otherwise provided herein, the Plan Administrator
shall control and manage the operation and administration of this Plan and make
all decisions and determinations.

9.1.2 Authority and Delegation. The Plan
Administrator is authorized to:

(a) Appoint one or more individuals or entities and delegate such
of his or her powers and duties as he or she deems desirable to any individual
or entity, in which case every reference herein made to Plan Administrator shall
be deemed to mean or include the individual or entity as to matters within their
jurisdiction. Such individual may be an officer or other employee of a
Participating Employer or Affiliate, provided that any delegation to an employee
of a Participating Employer or Affiliate will automatically terminate when he or
she ceases to be an employee. Any delegation may be rescinded at any time; and

(b) Select, employ and compensate from time to time such agents or
consultants as the Plan Administrator may deem necessary or advisable in
carrying out its duties and to rely on the advice and information provided by
them.

9.1.3 Determination. The Plan
Administrator shall make such determinations as may be required from time to
time in the administration of this Plan. The Plan Administrator shall have the
discretionary authority and responsibility to interpret and construe this Plan
Statement and to determine all factual and legal questions under this Plan,
including but not limited to the entitlement of Participants and Beneficiaries,
and the amounts of their respective interests. . Each decision of the Plan
Administrator shall be final and binding upon all parties. Benefits under the
Plan will be paid only if the Plan Administrator decides in its discretion that
the applicant is entitled to them.

9.1.4 Reliance. The Plan Administrator may
act and rely upon all information reported to it hereunder and need not inquire
into the accuracy thereof, nor be charged with any notice to the contrary.

9.1.5 Rules and Regulations. Any rule,
regulation, policy, practice or procedure not in conflict or at variance with
the provisions hereof may be adopted by the Plan Administrator.

9.2 Conflict of Interest. If any
individual to whom authority has been delegated or redelegated hereunder shall
also be a Participant in this Plan, such Participant shall have no authority
with respect to any matter specially affecting such Participant153s individual
interest hereunder or the interest of a person superior to him or her in the
organization (as distinguished from the interests of all Participants and
Beneficiaries or a broad class of Participants and Beneficiaries), all such
authority being reserved exclusively to other individuals as the case may be, to
the exclusion of such Participant, and such Participant shall act only in such
Participant153s individual capacity in connection with any such matter.

21

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9.3 Service of Process. In the absence of
any designation to the contrary by the Plan Administrator, the General Counsel
of the Company is designated as the appropriate and exclusive agent for the
receipt of service of process directed to this Plan in any legal proceeding,
including arbitration, involving this Plan.

9.4 Choice of Law. Except to the extent
that federal law is controlling, this Plan Statement will be construed and
enforced in accordance with the laws of the State of Minnesota.

9.5 Responsibility for Delegate. No person
shall be liable for an act or omission of another person with regard to a
responsibility that has been allocated to or delegated to such other person
pursuant to the terms of the Plan Statement or pursuant to procedures set forth
in the Plan Statement.

9.6 Expenses. All expenses of
administering the benefits due under this Plan shall be borne by the
Participating Employers.

9.7 Errors in Computations. It is
recognized that in the operation and administration of the Plan certain
mathematical and accounting errors may be made or mistakes may arise by reason
of factual errors in information supplied to the Plan Administrator or trustee.
The Plan Administrator shall have power to cause such equitable adjustments to
be made to correct for such errors as the Plan Administrator, in its sole
discretion, considers appropriate. Such adjustments shall be final and binding
on all persons.

9.8 Indemnification. In addition to any
other applicable provisions for indemnification, the Participating Employers
jointly and severally agree to indemnify and hold harmless, to the extent
permitted by law, each director, officer and employee of the Participating
Employers against any and all liabilities, losses, costs or expenses (including
legal fees) of whatsoever kind and nature which may be imposed on, incurred by
or asserted against such person at any time by reason of such person153s services
as an administrator in connection with this Plan, but only if such person did
not act dishonestly, or in bad faith, or in willful violation of the law or
regulations under which such liability, loss, cost or expense arises.

9.9 Notice. Any notice required under this
Plan Statement may be waived by the person entitled thereto.

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SECTION 10
CONSTRUCTION

10.1 IRC Status. This Plan is intended to
be a nonqualified deferred compensation arrangement that will comply in form and
operation with the requirements of Code section 409A and this Plan will be
construed and administered in a manner that is consistent with and gives effect
to such intention.

10.2 Rules of Document Construction. In
the event any provision of this Plan Statement is held invalid, void or
unenforceable, the same shall not affect, in any respect whatsoever, the
validity of any other provision of this Plan. The titles given to the various
Sections of this Plan Statement are inserted for convenience of reference only
and are not part of this Plan Statement, and they shall not be considered in
determining the scope, purpose, meaning or intent of any provision hereof. The
provisions of this Plan Statement shall be construed as a whole in such manner
as to carry out the provisions thereof and shall not be construed separately
without relation to the context.

10.3 References to Laws. Any reference in
this Plan Statement to a statute or regulation shall be considered also to mean
and refer to any subsequent amendment or replacement of that statute or
regulation unless, under the circumstances, it would be inappropriate to do so.

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