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Amendment To Amended & Restated Bargaining Plan

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Sectors: Consumer Products (Non-Durables)
Effective Date: December 13, 1995
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FIRST AMENDMENT
OF
FARAH U.S.A., INC.
BARGAINING UNIT PENSION PLAN


WHEREAS, Farah Incorporated (the "company") maintains the Farah U.S.A., Inc. Bargaining Unit Pension Plan (the "plan"); and


WHEREAS, the plan was last amended and restated on December 31, 1994, effective generally on January 1, 1990, and further amendment of the plan now is considered desirable to bring the plan into compliance with section 767(a) of the Uruguay Round Agreements Act (P.L. 103-465), effective with respect to distributions payable on or after January 1, 1996.


NOW, THEREFORE, by virtue and in exercise of the power reserved to the company by Section 6.4 of the plan and delegated to the undersigned officer by resolution of its Board of Directors adopted at the March 13-15, 1995 meeting of the Board of Directors, the plan be and it hereby is amended effective January 1, 1996, as follows:


1. Section 1.1(A)(23) of the plan shall be deleted in its entirety and the following section inserted in lieu thereof:


"(23) The term "actuarially equivalent" as used herein
means equality in value of the aggregate amounts
expected to be received under different forms of
payment based upon the same mortality and interest
rate assumptions. Unless specifically


2


provided otherwise under the provisions hereof, the
mortality and interest rate assumptions used in
computing benefits payable on behalf of a
participant upon his retirement or termination of
service and upon the exercise of optional forms of
retirement income under the plan shall be the Unisex
Pension Mortality Table Projected to 1984 (UP-1984
Table) and an 8% interest rate.


Any provisions above to the contrary
notwithstanding, if the applicable mortality table
described in Section 417(e)(3)(A)(ii)(I) of the
Internal Revenue Code of 1986, as amended, and
regulations issued pursuant thereto (which shall be
based on the prevailing commissioners' standard
table described in Section 807(d)(5)(A) of the
Internal Revenue Code of 1986, as amended, used to
determine reserves for group annuity contracts
issued on the date as of which present value is
being determined without regard to any other
subparagraph of Section 807(d)(5)) (the "Applicable
Mortality Table"), and the applicable interest rate
described in Section 417(e)(3)(A)(ii)(II) of the
Internal Revenue Code of 1986, as amended, and
regulations issued pursuant thereto (the annual rate
of interest on 30-year Treasury securities) as of
the first day of November immediately preceding the
plan year during which the distribution is made or
commences (the "Applicable Interest Rate"), will
result in a larger distribution being payable to the
participant or his beneficiary, as the case may be,
the interest rate and mortality assumptions used to
compute the amount of any actuarially equivalent
lump-sum distribution that is payable on


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or after January 1, 1996 or any other actuarially
equivalent form of distribution that initially
commences on or after January 1, 1996 and that
provides payments in the form of a decreasing
annuity or that provides payments for a period less
than the life of the participant (or, in the case of
a death benefit payable to his beneficiary under the
provisions of Section 2.3(G), 2.4(A)(3) or 2.4(B)
hereof, for a period less than the life of his
beneficiary) shall be equal to the Applicable
Mortality Table and Applicable Interest Rate. For
the above purposes, a joint and survivor annuity
form of payment which may decrease upon the death of
the participant or his joint pensioner shall be
deemed to be a non-decreasing annuity."


2. Section 3.2 of the plan shall be deleted in its entirety and the following section inserted in lieu thereof:


"3.2 LUMP-SUM PAYMENT OF SMALL RETIREMENT INCOME


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