Amount of the Normal Death Benefit

The Normal Death Benefit is equal to 100% of the Employer contributions (subject to the compensation limits) made to the Plan on behalf of the Participant plus, effective beginning January 1, 2000, 28.30% of such Employer contributions for each of the Participant’s Qualified Years in excess of 20, up to a maximum of an additional 141.5% (a maximum of 241.5% for 25 or more Qualified Years).

If the amount of the Normal Death Benefit is less than $200, no benefit will be payable.

The minimum Normal Death Benefit will be $5,000 if the Participant died after August 1, 1961, and had at least fifteen Qualified Years. At least two of these fifteen Qualified Years must have been earned during the five Plan Years preceding the 12-month period beginning April 1 and ending March 31 during which the Participant died.

IMPORTANT: The Normal Death Benefit will not be payable if a surviving spouse or Qualified Domestic Partner is eligible for benefits under the Surviving Spouse Benefit unless the surviving spouse or Qualified Domestic Partner of a deceased Participant waives the Surviving Spouse Benefit. In that case, the Normal Death Benefit will be paid to the Participant’s designated beneficiary (who may or may not be the surviving spouse or Qualified Domestic Partner). You are encouraged to complete a new beneficiary card should you become married or divorced or if your beneficiary predeceases you. Additionally, the Normal Death Benefit will generally not be payable with respect to a Participant who elects to retire but dies before retirement. See Note under Pre-Retirement Death Benefit.

Example 1:

Writer A died on July 5, 2000, with eight Qualified Years. Total Employer contributions made to the Plan on the writer’s behalf were $10,000. The Normal Death Benefit would be 100% of $10,000, or $10,000.

Example 2:

Writer B died on July 5, 2000, with 25 Qualified Years. Total Employer contributions made to the Plan on the writer’s behalf were $30,000. The Normal Death Benefit would be calculated as follows:

Example 3:

Writer C died on July 5, 2000, with 17 Qualified Years, two of which are during 1997 and 1998. Total Employer contributions were $4,500. Based on these contributions, the Normal Death Benefit would be equal to $4,500 (100% of $4,500). However, because Writer C had accumulated over fifteen Qualified Years, including two Qualified Years during the five Plan Years preceding the 12-month period beginning April 1, 2000, and ending March 31, 2001, the Normal Death Benefit will be the minimum of $5,000.

Note: For purposes of determining whether a Participant is eligible for a Normal Death Benefit and the amount of that benefit, “Live Fund” Years are not counted as Qualified Years.