SECTION 403(b) SALARY REDUCTION AGREEMENT

BY THE AGREEMENT, made between _____________________________________ (the "Employee") and

SOUTHEAST MISSOURI STATE UNIVERSITY (the "Employer"), we agree as follows:

I. Effective with respect to amounts available for check date _____________________________________, the compensation to be paid by the Employer to the Employee shall be reduced in the following manner:

$ __________ each pay period.

The Employer shall pay $__________________ to:

Company Amount

________________________________________ __________

________________________________________ __________

________________________________________ __________

TOTAL __________

in the manner specified above for the purchase of a non-forfeitable annuity contract to provide retirement benefits for the Employee.

II. This agreement shall continue indefinitely until amended or terminated by either party (subject to the conditions in paragraphs III and IV) by giving at least thirty (30) days' written notice prior to the date of such amendment or termination.

III. An employee may only enter into a payroll reduction agreement, amend an agreement, or terminate an agreement when permitted under Section 403(b) of the Internal Revenue Code of 1986, as amended, or applicable regulations or rulings.

IV. If the Employee terminates employment with the Employer or if the Employer terminates its Section 403(b) program, this agreement shall automatically terminate.

V. With respect to amounts earned while the agreement is in effect, this agreement shall be legally binding and irrevocable as to both parties and shall terminate any prior salary reduction agreement executed between the Employee and the Employer under the Employer’s 403(b) program.

VI. Nothing contained in this Agreement shall be deemed to constitute an employment agreement and nothing contained herein shall be deemed to give the Employee any right to be retained in the employ of the Employer.

VII. I agree that all computations in connection with the determination of the amount of the salary reduction hereby authorized, including but not limited to the amount of exclusion allowance, includable compensation and years of service pursuant to Sections 403 of the Internal Revenue Code, shall be my responsibility. Such computations shall not be the responsibility of the University nor of an officer or employee of the University assigned any duties in connection with its Tax Deferred Plans, and it is agreed that the University, its Board of Regents, officers, and employees assigned any duties in connection with its tax deferred plans shall incur no liability therefrom. The salary reduction provided for in this agreement shall not go into effect until the University Benefits Office receives a copy of the calculations made for determining that the proposed calculations are within the exclusion allowance (Maximum Exclusion Allowance).

IN WITNESS WHEREOF the parties hereto have executed this agreement on this ____ day of _____________________, 20____.

_________________________________________ ________-______-_______ _____________________________________

Employee Signature Employee Social Security Assistant Director, Human Resources Signature

___________________________________________________________________________________________________________________________

OFFICE USE ONLY

Pay Cycle: M2 B1 Term: 00=12 01=09 02=12 03=10 Status: A T LOA Purchase Stop Change

Option A: Option B:

Date: _________________ Date: ___________________

DU 011 CODE AMOUNT DU 011 CODE AMOUNT DU 011 CODE AMOUNT

______ GTN G $ __________ ______ GTN G $__________ ______ GTN G $___________

______ GTN G $ __________ ______ GTN G $__________ ______ GTN G $___________

______ GTN G $ __________ ______ GTN G $__________ ______ GTN G $___________

3/17/06