XXX EMPLOYEES’ STOCK OWNERSHIP PLAN
(Effective January 1, 2024)

SECTION 1	1
Introduction	1
1.1	Background, Purpose of Plan and Applicable Requirements	1
1.2	Effective Date and Plan Year	1
1.3	Administration of the Plan	1
1.4	Plan Supplements	2
SECTION 2	3	
Definitions	3
2.1	Account	3
2.2	Acquired Entity	3
2.3	Alternate Payee	3
2.4	Approved Form of Election	3
2.5	Beneficiary	3
2.6	Benefit Service	3
2.7	Board	4
2.8	Break in Service	4
2.9	Closing	5
2.10	Closing Date	5
2.11	Code	5
2.12	Compensation	5
2.13	Corporation	6
2.14	Corporation Stock	6
2.15	Corporation Stock Account	7
2.16	Current Obligations	7
2.17	Deemed-Owned Shares	7
2.18	Direct Rollover	8
2.19	Disability or Disabled	8
2.20	Disqualified Person	8
2.21	Distributee	10
2.22	Dividend	10
2.23	Effective Date	10
2.24	Eligibility Service	10
2.25	Eligible Account Balance	12
2.26	Eligible Employee	12
2.27	Eligible Retirement Plan	13
2.28	Eligible Rollover Distribution	13
2.29	Employee	13
2.30	Employer	14
2.31	Employer Contribution Account	14
2.32	Employer Contributions	14
2.33	ERISA	14
2.34	Exempt Loan	14
2.35	Fair Market Value	14
2.36	Fiduciaries	14
2.37	Forfeiture	15
2.38	General Investment Account	15
2.39	General Obligation	15
2.40	Highly Compensated Employee	15
2.41	Hour of Service	15
2.42	Impermissible Accrual	17
2.43	Impermissible Allocation	17
2.44	Investment Manager	17
2.45	Leased Employee	17
2.46	Leveraged Corporation Stock	17
2.47	Member of the Family	17
2.48	Non-allocation Period	18
2.49	Non-allocation Year	18
2.50	Optional Employer Contribution	19
2.51	Participant	19
2.52	Plan	19
2.53	Plan Administrator	19
2.54	Plan Year	19
2.55	Profit-Sharing Plan Portion	19
2.56	Qualified Domestic Relations Order	19
2.57	Qualified Election Period	19
2.58	Qualified Military Service	20
2.59	Qualified Participant	20
2.60	Qualifying Corporation Stock	20
2.61	Readily Tradable on an Established Securities Market	21
2.62	Related Employer	21
2.63	Required Age	21
2.64	Required Beginning Date	22
2.65	Retirement Date	22
2.66	Retirement	22
2.67	S Corporation	22
2.68	S Corporation Disqualified Person	22
2.69	Severance From Service	22
2.70	Special Employer Contribution	23
2.71	Specified Income	23
2.72	Spouse	23
2.73	Stock Bonus Plan Portion	23
2.74	Supplement	23
2.75	Synthetic Equity	23
2.76	Testing Compensation	25
2.77	Total Distribution	25
2.78	Trust	25
2.79	Trustee	25
2.80	Trust Fund	25
2.81	Trust Fund Income	26
2.82	Unallocated Corporation Stock Account	26
2.83	Unallocated General Investment Account	26
2.84	Valuation Date	26
2.85	Vesting Service	26
2.86	Other Definitions	28
SECTION 3	29
Eligibility and Participation	29
3.1	Eligibility for Participation	29
3.2	Participation Following a Break in Service or Rehire	29
3.3	Participation by a Leased Employee or Independent Contractor	29
3.4	Period of Participation	30
SECTION 4	31
Employer Contributions	31
4.1	Employer Contributions	31
4.2	Allocation of Employer Contributions to Accounts	33
4.3	Allocation Procedures for Employer Contributions	35
4.4	Treatment of Corporation Stock Purchased under an Exempt Loan	37
4.5	Determination of Employer Contributions	39
4.6	Time and Form of Employer Contribution	39
4.7	Qualified Military Service	39
SECTION 5	40
Accounts	40
5.1	Establishing Accounts	40
5.2	Value of Participant’s Account Balance	40
5.3	Allocation of Earnings and Losses to Accounts	41
5.4	Account Charged	41
5.5	Accounts for Alternate Payees	41
5.6	Missing Persons, Unclaimed Accounts and Uncashed Checks	41
SECTION 6	44
Vesting and Forfeitures	44
6.1	Vesting of Employer Contributions	44
6.2	Breaks in Service, Accounts and Vesting Service for Rehires	44
6.3	Forfeitures	45
SECTION 7	47
Time and Method of Payment of Benefits	47
7.1	Time of Payment of Vested Account Balance	47
7.2	Method of Payment of Vested Account Balance	48
7.3	Form of Payment of Vested Account Balance	50
7.4	Distribution Directions	52
7.5	Withholding and Payment of Taxes	52
7.6	Minimum Distributions	52
7.7	Designation of Beneficiary	54
7.8	Missing Spouse	55
7.9	Absence of Beneficiary Designation	55
SECTION 8	56
Administration of the Plan	56
8.1	The Plan Administrator	56
8.2	Plan Administrator General Powers, Rights, and Duties	56
8.3	Conversion of Inactive Participants’ Corporation Stock Accounts to Cash	57
8.4	Allocations and Delegations of Responsibility	59
8.5	Interested Plan Administrator Member	59
8.6	Plan Administrator Actions	59
8.7	Reports	60
8.8	Compensation and Expenses	60
8.9	Information Required by Plan Administrator	60
8.10	Uniform Application of Rules	60
8.11	Corrective Contributions	60
8.12	Recovery of Benefits	62
8.13	Indemnification	62
8.14	Errors and Corrections	62
SECTION 9	63
Claims for Benefits	63
9.1	Claim for Benefits	63
9.2	Claims Procedures for Retirement Benefits	63
9.3	Appeal Procedures for Retirement Benefits	64
9.4	Exhaustion of Claims and Appeals Procedures and Legal Action	64
9.5	Plan Administrator Decision Final	65
SECTION 10	66
Diversification and Voting	66
10.1	Diversification of Participant’s Account	66
10.2	Participant Voting Rights – Corporation Stock	67
SECTION 11	69
Investment Provisions	69
11.1	Investment of Employer Contributions	69
SECTION 12	70
Management of Trust Fund	70
12.1	Trustee and Trust	70
12.2	Restrictions as to Trust Reversions	70
12.3	Valuation of Trust	71
12.4	Exempt Loan	71
12.5	Funding Policy	73
SECTION 13	75
Repurchase of Corporation Stock	75
13.1	Put Option	75
13.2	Restriction on Corporation Stock	75
13.3	Lifetime Transfer and Right of First Refusal	76
13.4	Payment of Purchase Price	77
13.5	Notice	77
13.6	Certain Rights with Respect to the Corporation Stock	77
13.7	Trustee’s Put Option	78
13.8	Security Holder	78
13.9	Provisions Non-Terminable	78
SECTION 14	79
Amendment, Termination, and Merger	79
14.1	Amendment and Termination	79
14.2	Amendment of Vesting Schedule	79
14.3	Effect of Termination	80
14.4	Nonforfeitability and Distribution on Termination	80
14.5	Merger and Consolidation	80
SECTION 15	82
Employers	82
15.1	Participating Employers	82
15.2	Adoption of the Plan by a Related Employer	82
15.3	Disassociation of an Employer from the Plan	82
SECTION 16	84
Contribution and Benefit Limitations	84
16.1	Maximum Benefits	84
16.2	Transactions Involving Corporation Stock	85
16.3	Prohibited Allocations Under S Corporation ESOP	86
16.4	Top Heavy Rules	89
16.5	Reduction of Contributions	91
16.6	Special Rules for Long-Term Part-Time Employees	91
SECTION 17	92
Miscellaneous Provisions	92
17.1	Evidence	92
17.2	Non-Alienation of Benefits	92
17.3	No Responsibility for Plan Actions	92
17.4	Conflicts of Interest	93
17.5	Fiduciaries Not Insurers	93
17.6	Waiver of Notice	94
17.7	Heirs, Assigns, and Representatives	94
17.8	Gender and Number	94
17.9	Headings	94
17.10	Controlling State Law	94
17.11	No Contract of Employment	94
17.12	Severability of Provisions	94
17.13	Corporation Action	95
17.14	Records and Statements	95
17.15	Parties to Litigation	95
17.16	Litigation Against the Trust	95
17.17	Notices and Deliveries	95
17.18	Corporation Merger	95
17.19	Service of Process	96
17.20	Uniform and Nondiscriminatory Treatment	96
17.21	Counterparts	96
17.22	Statutory References	96
SUPPLEMENT A Participating Employers
SUPPLEMENT B Service with Other Employers
SUPPLEMENT C Special Contributions