Employees' Retirement Program Part I


 Exhibit 10.6 
 FMC TECHNOLOGIES, INC. EMPLOYEES’ RETIREMENT PROGRAM 
 PART I 
 SALARIED AND NONUNION HOURLY EMPLOYEES’ RETIREMENT PLAN 






 TABLE OF CONTENTS 
  

			
	INTRODUCTION	 	1
		
	ARTICLE I	 	2
		
	Definitions	 	2
	Actuarial Equivalent	 	2
	Administrator	 	2
	Affiliate	 	2
	Annuity Starting Date	 	3
	Beneficiary	 	3
	Benefits Agreement	 	3
	Board	 	3
	Code	 	3
	Committee	 	3
	Company	 	3
	Early Retirement Benefit	 	3
	Early Retirement Date	 	3
	Earnings	 	4
	Effective Date	 	4
	Eligible Employee	 	5
	Employee	 	5
	Employee Contributions	 	5
	Employment Commencement Date	 	5
	ERISA	 	5
	50% Joint and Survivor’s Annuity	 	6
	Final Average Yearly Earnings	 	6
	FMC	 	6
	FMC Beneficiary	 	6
	FMC Joint Annuitant	 	6
	FMC Participant	 	6
	FMC Plan	 	6
	FTI Spinoff	 	6
	Foreign Subsidiary	 	6
	Hour of Service	 	6
	Individual Life Annuity	 	6
	Interest	 	7
	Investment Manager	 	7
	Joint Annuitant	 	7
	Leased Employee	 	7
	Level Income Option	 	7
	Normal Retirement Date	 	7
	100% Joint and Survivor’s Annuity	 	7
	One-Year Period of Severance	 	7
	Participant	 	7
	Participating Employer	 	7
	Period of Service	 	7
	Period of Severance	 	8
	Plan	 	8
	Plan Year	 	8
	Primary Social Security Benefit	 	8

  

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	Reemployment Commencement Date	  	8
	Savings Plan	  	8
	Severance From Service Date	  	8
	Social Security Covered Compensation Base	  	9
	Supplement	  	9
	Trust	  	9
	Trust Fund	  	9
	Year of Credited Service	  	9
	Year of Vesting Service	  	10
		
	ARTICLE II	  	11
		
	Participation	  	11
	 2.1
	    	Eligibility and Commencement of Participation	  	11
	 2.2
	    	Provision of Information	  	11
	 2.3
	    	Termination of Participation	  	11
	 2.4
	    	Special Rules Relating to Veterans’ Reemployment Rights	  	11
		
	ARTICLE III	  	12
		
	Normal, Early and Deferred Retirement Benefits	  	12
	 3.1
	    	Normal Retirement Benefits	  	12
	 3.2
	    	Early Retirement Benefits	  	13
	 3.3
	    	Deferred Retirement Benefits	  	13
	 3.4
	    	Suspension of Benefits	  	15
	 3.5
	    	Benefit Limitations	  	17
	 3.6
	    	FMC Participants’ Benefits	  	19
		
	ARTICLE IV	  	20
		
	Termination Benefits	  	20
	 4.1
	    	Termination of Service	  	20
	 4.2
	    	Amount of Termination Benefit	  	20
		
	ARTICLE V	  	22
		
	Refund of Employee Contributions	  	22
	 5.1
	    	Employee Contributions	  	22
	 5.2
	    	Withdrawal of Employee Contributions	  	22
	 5.3
	    	Refund Upon Death Before Annuity Starting Date	  	22
	 5.4
	    	Refund After Annuity Starting Date	  	22
		
	ARTICLE VI	  	24
		
	Payment of Retirement Benefits	  	24
	 6.1
	    	Normal Form of Benefit	  	24
	 6.2
	    	Available Forms of Benefits	  	24
	 6.3
	    	Election of Benefits	  	25
	 6.4
	    	Joint Annuitants	  	26
	 6.5
	    	FMC Participants in Pay Status	  	27
		
	ARTICLE VII	  	28
		
	Survivor’s Benefits	  	28
	 7.1
	    	Preretirement Survivor’s Benefit	  	28
	 7.2
	    	Surviving Spouse’s Benefit	  	29
	 7.3
	    	Certain Former Employees	  	29
		
	ARTICLE VIII	  	31
		
	Fiduciaries	  	31
	 8.1
	    	Named Fiduciaries	  	31
	 8.2
	    	Employment of Advisers	  	31

  

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	 8.3
	    	Multiple Fiduciary Capacities	  	31
	 8.4
	    	Payment of Expenses	  	31
	 8.5
	    	Indemnification	  	32
		
	ARTICLE IX	  	33
		
	Plan Administration	  	33
	 9.1
	    	Powers, Duties and Responsibilities of the Administrator and the Committee	  	33
	 9.2
	    	Delegation of Administration Responsibilities	  	33
	 9.3
	    	Committee Members	  	34
		
	ARTICLE X	  	35
		
	Funding of the Plan	  	35
	 10.1
	    	Appointment of Trustee	  	35
	 10.2
	    	Actuarial Cost Method	  	35
	 10.3
	    	Cost of the Plan	  	35
	 10.4
	    	Funding Policy	  	35
	 10.5
	    	Cash Needs of the Plan	  	36
	 10.6
	    	Public Accountant	  	36
	 10.7
	    	Enrolled Actuary	  	36
	 10.8
	    	Basis of Payments to the Plan	  	36
	 10.9
	    	Basis of Payments from the Plan	  	36
		
	ARTICLE XI	  	37
		
	Plan Amendment or Termination	  	37
	 11.1
	    	Plan Amendment or Termination	  	37
	 11.2
	    	Limitations on Plan Amendment	  	37
	 11.3
	    	Effect of Plan Termination	  	37
	 11.4
	    	Allocation of Trust Fund on Termination	  	38
		
	ARTICLE XII	  	39
		
	Miscellaneous Provisions	  	39
	 12.1
	    	Subsequent Changes	  	39
	 12.2
	    	Plan Mergers	  	39
	 12.3
	    	No Assignment of Property Rights	  	39
	 12.4
	    	Beneficiary	  	40
	 12.5
	    	Benefits Payable to Minors, Incompetents and Others	  	40
	 12.6
	    	Employment Rights	  	41
	 12.7
	    	Proof of Age and Marriage	  	41
	 12.8
	    	Small Annuities	  	41
	 12.9
	    	Controlling Law	  	41
	 12.10
	    	Direct Rollover Option	  	41
	 12.11
	    	Claims Procedure	  	42
	 12.12
	    	Participation in the Plan by an Affiliate	  	44
	 12.13
	    	Action by Participating Employers	  	44
		
	ARTICLE XIII	  	45
		
	Top Heavy Provisions	  	45
	 13.1
	    	Top Heavy Definitions	  	45
	 13.2
	    	Determination of Top Heavy Status	  	48
	 13.3
	    	Minimum Benefit Requirement for Top Heavy Plan	  	48
	 13.4
	    	Vesting Requirement for Top Heavy Plan	  	49

  

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	EXHIBIT A	  	51
		
	EXHIBIT B	  	52
		
	EXHIBIT C	  	53
		
	SUPPLEMENT 1	  	54
		
	SUPPLEMENT 2	  	56
		
	SUPPLEMENT 3	  	57
		
	SUPPLEMENT 4	  	59

  

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 FMC TECHNOLOGIES, INC. EMPLOYEES’ RETIREMENT PROGRAM 
 PART I 
 SALARIED AND NONUNION HOURLY EMPLOYEES’ RETIREMENT PLAN 
 INTRODUCTION 
 The FMC Technologies, Inc. Employees’ Retirement Program (“Program”) is established effective May 1, 2001, in connection
with a spin-off of assets and liabilities from the FMC Corporation Employees’ Retirement Program (the “FMC Plan”). 
 The Program consists of two parts, Part I Salaried and Nonunion Hourly Employees’ Retirement Plan and Part II Union Hourly Employees’ Retirement Plan, which are contained in two separate plan documents. Supplements to Part I and
Part II of the Program contain provisions which apply only to a specific group of Employees or Participants as specified therein and override any contrary provision of the Program or either Part I or Part II. This document is Part I Salaried and
Nonunion Hourly Employees’ Retirement Plan (“Plan”) and covers the eligible employees as provided in Article II Participation. This document is generally effective as of May 1, 2001, except as and to the extent otherwise provided
herein or as required with respect to the accrued benefits of any Participant affected by the FTI Spinoff. This document shall not be construed to affect an FMC Participant’s accrued benefit under the FMC Plan, or to alter in any way the rights
of any FMC Participant, FMC Joint Annuitant or FMC Beneficiary thereof who has retired, died, or with respect to whom there has been a severance from service date under the FMC Plan before May 1, 2001. 
 The Plan is intended to be qualified under Code Section 401(a), and its associated trust is intended to be tax exempt under Code
Section 501(a). The Plan is intended also to meet the requirements of ERISA and shall be interpreted, wherever possible, to comply with the terms of the Code and ERISA. The Plan is intended to provide a regular monthly retirement benefit for
employees who meet the eligibility requirements. 
  

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 ARTICLE I 
 Definitions 
 For purposes of this Plan and any amendments to it,
the following terms have the meanings ascribed to them below. 
 Actuarial Equivalent means a benefit determined
to be of equal value to another benefit on the basis of either (a) the actuarial assumptions in Exhibit E-1, E-2, E-3 or E-4, as applicable, or (b) the mortality table and interest rate described in the applicable Supplement. 

Notwithstanding the foregoing, for purposes of Section 12.8, Actuarial Equivalent value shall be determined as follows: 

 

	 	(i)	with respect to FMC Participants whose Annuity Starting Dates occurred prior to June 1, 1995, based on the actuarial assumptions in Exhibit E-4; provided that the
interest rate shall not exceed the rate for immediate annuities used by the Pension Benefit Guaranty Corporation for plans terminating on the first day of the Plan Year that contains the Annuity Starting Date; 

  

	 	(ii)	with respect to FMC Participants with Annuity Starting Dates occurring on or after June 1, 1995, and who had an Hour of Service prior to August 31, 1999,
based on the 1983 Group Annuity Mortality Table (weighed 50% male and 50% female) (or the applicable mortality table prescribed under Section 417(e)(3) of the Code) and the lesser of the interest rate in Exhibit E-4 or the applicable interest
rate prescribed under Section 417(e)(3) of the Code for the November preceding the Plan Year that contains the Annuity Starting Date; and 

  

	 	(iii)	for Annuity Starting Dates occurring on or after August 31, 1999, with respect to any Participant who did not have an Hour of Service prior to July 1, 1999,
based on the 1983 Group Annuity Mortality Table (weighted 50% male and 50% female) (or the applicable mortality table, prescribed under Section 417(e)(3) of the Code) and the applicable interest rate prescribed under Section 417(e)(3) of
the Code for the November preceding the Plan Year that contains the Annuity Starting Date. 

 Administrator means the Company. The Plan is administered by the Company through the Committee. The Administrator and the Committee have the responsibilities specified in Article IX. 
 Affiliate means any corporation, partnership, or other entity that is: 
  

	 	(a)	a member of a controlled group of corporations of which the Company is a member (as described in Code Section 414(b)); 

  

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	 	(b)	a member of any trade or business under common control with the Company (as described in Code Section 414(c)); 

  

	 	(c)	a member of an affiliated service group that includes the Company (as described in Code Section 414(m)); 

  

	 	(d)	an entity required to be aggregated with the Company pursuant to regulations promulgated under Code Section 414(o); or 

  

	 	(e)	a leasing organization that provides Leased Employees to the Company or an Affiliate (as determined under paragraphs (a) through (d) above), unless
(i) the Leased Employees constitute less than 20% of the nonhighly compensated workforce of the Company and Affiliates (as determined under paragraphs (a) through (d) above); and (ii) the Leased Employees are covered by a plan
described in Code Section 414(n)(5). 

 “Leasing organization” has the meaning ascribed to it in
the definition of “Leased Employee” below. 
 For purposes of Section 3.5, the 80% thresholds of Code Sections
414(b) and (c) are deemed to be “more than 50%,” rather than “at least 80%.” 
 Annuity Starting
Date means the first day of the first period for which an amount is paid in an annuity or other form of benefit. In the case of a lump sum distribution, the Annuity Starting Date is the date payment is actually made. 
 Beneficiary means the person or persons determined pursuant to Section 12.4. 
 Benefits Agreement means the Employee Benefits Agreement by and between FMC and the Company. 
 Board means the board of directors of the Company. 
 Code means the Internal Revenue Code of 1986, as amended from time to time. Reference to a specific provision of the Code
includes that provision, any successor to it and any valid regulation promulgated under the provision or successor provision. 
 Committee means the FTI Employee Benefits Plan Committee as described in Section 9.3, its authorized delegatee and any successor to the Committee. 
 Company means FMC Technologies, Inc., a Delaware corporation, and any successor to it. 
 Early Retirement Benefit means the benefits determined pursuant to Section 3.2. 
 Early Retirement Date means (a) in the case of an FMC Participant who became a Participant in the FMC Plan before
January 1, 1984, such Participant’s 55th birthday; and (b) in the case of an FMC Participant who became a Participant in the FMC Plan after December 31, 1983, or any other Employee who became a Participant in this Plan after the
Effective Date, the later of the Participant’s 55th birthday and the date the Participant acquires 10 Years of Credited Service. 
  

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 Earnings means the total compensation paid by the Company or a Participating
Employer to an Eligible Employee for each Plan Year that is currently includible in gross income for federal income tax purposes: 
  

	 	(a)	including: overtime, administrative and discretionary bonuses (including, gainsharing bonuses, performance related bonuses, completion bonuses (except as
provided below); sales incentive bonuses; earned but unused vacation, back pay, sick pay (other than a cash payment of unused sick days) and state disability benefits; plus the Employee’s Pre-Tax Contributions and amounts contributed to a plan
described in Code Section 125 or 132; and the incentive compensation (including management incentive bonuses which may be paid in cash and restricted stock and local incentive bonuses) earned during the Plan Year; 

  

	 	(b)	but excluding: hiring bonuses; referral bonuses; stay bonuses; retention bonuses; awards (including safety awards, “Gutbuster” awards and other similar
awards); amounts received as deferred compensation; disability payments from insurance or the Long-Term Disability Plan for Employees of FMC Technologies, Inc. (other than state disability benefits); workers’ compensation benefits; flexible
credits (i.e., wellness awards and payments for opting out of benefit coverage); expatriate premiums (including completion of expatriate assignment bonuses); grievance or settlement pay; severance pay; incentives for reduction in force;
accrued (but not earned) vacation; other special payments such as reimbursements, relocation or moving expense allowances; stock options or other stock-based compensation (except as provided above); any gross-up paid by a Participating Employer;
other distributions that receive special tax benefits; any amounts paid by a Participating Employer to cover an Employee’s FICA tax obligation as to amounts deferred or accrued under any nonqualified retirement plan of a Participating Employer;
and, pay in lieu of notice. 

 The annual amount of Earnings taken into account for a Participant must not exceed
$160,000 (as adjusted by the Internal Revenue Service for cost-of-living increases in accordance with Code Section 401(a)(17)(B)). 
 A Participant’s Earnings will be conclusively determined according to the Company’s records. 
 An FMC Participant’s Earnings shall include all “Earnings” determined under the FMC Plan on and prior to April 30, 2001. 
 Effective Date means (i) May 1, 2001 or, if later, an Employee’s Employment Commencement Date or Reemployment
Commencement date, whichever is applicable, or (ii) with respect to each FMC Participant, May 1, 2001 or, if later, the date such FMC Participant’s accrued benefit under the FMC Plan is deemed transferred to this Plan under the
Benefits Agreement. 
  

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 Eligible Employee means an Employee of a Participating Employer who is
employed on a salaried basis or in such other classifications as the Company may designate as salaried positions, other than: 
  

	 	(a)	a Leased Employee; 

  

	 	(b)	a member of a bargaining unit covered by a collective bargaining agreement that does not specifically provide for participation in the Plan by members of the bargaining
unit; or 

  

	 	(c)	any Employee who generally resides outside the United States or whose principal duties generally are performed outside the United States as determined by the Company,
unless such individual is a United States citizen or permanent resident alien or the Company designates such individual as an Eligible Employee. 

 Any individual who is a United States citizen or permanent resident alien and who is employed by a Foreign Subsidiary in a position which would make such individual an Eligible Employee if employed by the
Company shall be deemed to be employed by the Company, provided that no entity other than the Company makes contributions under any funded plan of deferred compensation (other than the Thrift Plan or any governmental retirement plan) with respect to
the remuneration such individual receives from such Foreign Subsidiary. 
 Employee means a common law employee or
Leased Employee of the Company or an Affiliate, subject to the following rules: 
  

	 	(a)	a person who is not a Leased Employee and who is engaged as an independent contractor is not an Employee; 

  

	 	(b)	only individuals who are paid as employees from the payroll of the Company or an Affiliate and treated as employees are Employees under the Plan; and


  

	 	(c)	any person retroactively found to be a common law employee shall not be eligible to participate in the Plan for any period he was not an Employee under the Plan.


 Employee Contributions means required contributions made by Participants to the FMC Plan or prior
plans prior to May 1, 1969. 
 Employment Commencement Date means the date on which the Employee first
performs an Hour of Service. 
 ERISA means the Employee Retirement Income Security Act of 1974, as amended from
time to time. Reference to a specific provision of ERISA includes the provision, any successor provision and any valid regulation promulgated under the provision or successor provision. 
  

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 50% Joint and Survivor’s Annuity means the immediate annuity determined
pursuant to Section 6.1.2. 
 Final Average Yearly Earnings means  1/5th of the sum of the Participant’s Earnings while an Eligible
Employee (or with respect to an FMC Participant, while an Eligible Employee or while an eligible employee under the FMC Plan) for the 60 consecutive calendar months (not taking into account months in which the Participant had no Earnings) out of the
past 120 calendar months in which such Earnings were the highest. If the commencement of a Participant’s retirement benefits hereunder is preceded by a period of long-term disability, the Company may adjust Final Average Yearly Earnings on a
nondiscriminatory basis. With respect to Participants who accepted offers of employment with Snap-On Incorporated (“Snap-On”) as a result of the Company’s sale of assets of its Automotive Service Equipment Division to Snap-On, the
Participants’ Earnings shall include eligible wages with Snap-On and its subsidiaries for purposes of calculating Final Average Yearly Earnings. 
 FMC means FMC Corporation, a Delaware corporation. 
 FMC
Beneficiary means an individual who was receiving benefits under the FMC Plan as a result of the death of an FMC Participant and whose benefit was transferred to this Plan pursuant to the FTI Spinoff. 
 FMC Joint Annuitant means an individual who was designated as a joint annuitant of an FMC Participant under the FMC Plan, the
benefits of such FMC Participant which were transferred to this Plan pursuant to the FTI Spinoff. 
 FMC
Participant means any participant in Part I Salaried and Non-Union Hourly Employee’s Retirement Plan of the FMC Plan who had their accrued benefit, years of credited service and years of vesting service under the FMC Plan transferred to
this Plan, pursuant to the FTI Spinoff. 
 FMC Plan means the FMC Corporation Employees’ Retirement Program.

 FTI Spinoff means the transfer of assets and liabilities attributable to FMC Participants from the FMC Plan to
this Plan pursuant to the Benefits Agreement. 
 Foreign Subsidiary means a foreign corporation covered by an
agreement between the Company and the Internal Revenue Service extending Federal Social Security benefits to such foreign corporation’s employees who are United States citizens, provided that either (a) not less than 20% of the voting
stock of such foreign corporation is owned by the Company or (b) more than 50% of the voting stock of such foreign corporation is owned by another foreign corporation which is described in (a) above. 
 Hour of Service means each hour for which an Employee is directly or indirectly paid or entitled to payment by the Company or
an Affiliate for the performance of duties and, for each FMC Participant, each hour of service credited to such individual under the FMC Plan as of the date prior to the Effective Date for such FMC Participant. 
 Individual Life Annuity means the annuity determined pursuant to Section 6.1.1. 
  

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 Interest means interest compounded annually at the following rates:

 (a) if Employee Contributions are withdrawn prior to retirement then 
  

	 	(i)	for periods prior to January 1, 1976 at a rate equal to 3%; and 

  

	 	(ii)	for periods on and after January 1, 1976 at a rate equal to 5%. 

 (b) if Employee Contributions are not withdrawn and are used to increase a Participant’s Normal Retirement Benefit under Section 3.1.3, then at a rate equal to 5%. 
 Investment Manager means a person who is an “investment manager” as defined in section 3(38) of ERISA. 

Joint Annuitant means the individual determined pursuant to Section 6.4. 
 Leased Employee means an individual who performs services for the Company or an Affiliate on a substantially full-time basis
for a period of at least one year, under the primary direction or control of the Company or an Affiliate, and under an agreement between the Company or Affiliate and a leasing organization. The leasing organization can be a third party or the Leased
Employee himself. 
 Level Income Option means the annuity determined pursuant to Section 6.2.4. 

Normal Retirement Date means the Participant’s 65th birthday. 
 100% Joint and Survivor’s Annuity means the immediate annuity determined pursuant to Section 6.2.3. 
 One-Year Period of Severance means a 12-consecutive-month period commencing on an Employee’s Severance From Service Date
in which the Employee is not credited with an Hour of Service. 
 Participant means an Eligible Employee who has
begun, but not ended, his or her participation in the Plan pursuant to the provisions of Article II and, unless specifically indicated otherwise, shall include each FMC Participant. 
 Participating Employer means the Company and each other Affiliate that adopts the Plan with the consent of the Board, as
provided in Section 12.12. 
 Period of Service means the period commencing on the Effective Date and ending
on the Severance From Service Date including, for each FMC Participant, periods of service credited under the FMC Plan as of the date immediately prior to the relevant Effective Date for such FMC Participant. All Periods of Service (whether or not
consecutive) shall be aggregated. Notwithstanding the foregoing, if an Employee incurs a One-Year Period of Severance at a time when he or she has no vested interest under the Plan and the Employee does not perform an Hour of Service within 5 years
after the beginning of the One-Year Period of Severance, the Period of Vesting Service prior to such One-Year Period of Severance shall not be aggregated. 
  

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 Period of Severance means the period commencing on the Severance From Service
Date and ending on the date on which the Employee again performs an Hour of Service. 
 Plan means Part I Salaried
and Nonunion Hourly Employees’ Retirement Plan of the FMC Technologies, Inc. Employees’ Retirement Program. 
 Plan Year means the period beginning May 1, 2001 and ending December 31, 2001 and thereafter the 12-month period beginning on January 1 and ending the next December 31. 
 Primary Social Security Benefit means the primary benefit which the Participant is eligible to receive at age 65 under the old
age portion of the Federal Old Age, Survivors’ and Disability Insurance Program assuming that after termination of employment with the Company and Affiliates the Participant has no further earnings subject to such programs. A Participant’s
Primary Social Security Benefit shall be determined by taking his Earnings at the time of his employment and applying a salary scale, projected backwards, reflecting the actual change in the average wage from year to year as determined by the Social
Security Administration. 
 Reemployment Commencement Date means the first date following a Period of Severance
which is not required to be taken into account for purposes of an Employee’s Period of Vesting Service on which the Employee performs an Hour of Service. 
 Savings Plan means the FMC Technologies, Inc. Employees’ Savings and Investment Plan, as amended from time to time. 
 Severance From Service Date means the earliest of: 
  

	 	(a)	the date on which an Employee voluntarily terminates, retires, is discharged or dies; 

  

	 	(b)	the first anniversary of the first date of a period in which an Employee remains absent from service (with or without pay) with the Company and Affiliates for any
reason other than voluntary termination, retirement, discharge or death; or 

  

	 	(c)	the second anniversary of the date an Employee is absent pursuant to a maternity or paternity leave of absence; provided, however, that the period between the first and
second anniversaries of the first date of such absence shall be neither a Period of Service nor a One-Year Period of Severance. 

 Notwithstanding the foregoing, a Severance From Service Date shall not be considered to have occurred under the following circumstances: 
  

	 	(i)	during a leave of absence, vacation or holiday with pay; 

  

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	 	(ii)	during a leave of absence without pay granted by reason of disability or under the Family and Medical Leave Act of 1993; 

  

	 	(iii)	during a period of qualified military service, provided the Employee makes application to return within 90 days after completion of active service and returns to active
employment as an Employee while reemployment rights are protected by law. If the Employee does not so return, the Employee shall have a Severance From Service Date on the first anniversary of the date of entry into military service.


 If the Employee violates the terms of a leave of absence, the Employee shall be deemed to have voluntarily
terminated as of the date of such violation. In the case of a leave in excess of 12 months, if the Employee fails to return to active employment immediately after such leave, the Employee shall be deemed to have voluntarily terminated as of the last
day of the 12th month of the leave. 
 A “maternity or paternity leave of absence” means an absence from work by
reason of the Employee’s pregnancy, birth of the Employee’s child, placement of a child with the Employee in connection with the adoption of such child, or any absence for the purpose of caring for such child for a period immediately
following such birth or placement. 
 Social Security Covered Compensation Base means the average of the
compensation and benefit bases in effect under Section 230 of the Social Security Act for each year in the 35-year period ending with the year in which the participant attains Social Security retirement age as defined in Section 415(b)(8)
of the Code. 
 Supplement means the provisions of the Plan which apply only to a specific group of Employees or
Participants as detailed in such Supplement and which override any contrary provision of the Plan. 
 Trust means
the trust established by the Trust Agreement. “Trust Agreement” means the trust agreement or agreements, as amended from time to time, entered into by the Company and the Trustee pursuant to Section 8.1. “Trustee” means the
trustee or trustees at any time appointed by the Company pursuant to Section 8.1. 
 Trust Fund means the
trust fund established and maintained by the Trustee to hold all assets of the Plan pursuant to the Trust Agreement. 
 Year of Credited Service means (a) for an FMC Participant, his or her years of credited service under the FMC Plan prior to such FMC Participant’s Effective Date, and (b) the total number of calendar months
during the Employee’s Period of Service while the Employee is an Eligible Employee and after he has become a Participant divided by 12. A partial month in such Period of Service counts as a whole month, and fractional Years of Credited Service
shall be taken into account in determining a Participant’s benefits. Year of Credited Service shall also include such other periods as the Company recognizes as a Year of Credited Service, pursuant to written and nondiscriminatory rules.

  

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 Notwithstanding the foregoing, Credited Service shall not include (i) any leave of
absence without pay unless the Employee returns to active employment as an Employee immediately after such leave and abides by all the terms of the leave, (ii) any maternity or paternity leave of absence unless the Employee returns to active
employment as an Employee within 12 months after the first day of such leave, or (iii) any period of service with respect to which such Eligible Employee accrues a benefit under the FMC Plan on or after May 1, 2001 or any pension, profit
sharing or other retirement plan listed on Exhibit A. 
 Year of Vesting Service means (a) for an FMC
Participant, his or her years of service and years of vesting service credited under the FMC Plan prior to such FMC Participant’s Effective Date, and (b) the total number of calendar months during the Employee’s Period of Service
divided by 12, determined in accordance with the following rules: 
  

	 	(i)	a partial month in the Employee’s Period of Service counts as a whole month; 

  

	 	(ii)	if the Employee has a Severance From Service Date by reason of a voluntary termination, discharge or retirement and the Employee then performs 1 Hour of Service within
12 months of the Severance From Service Date, such Period of Severance is included in the Period of Vesting Service. If the Employee has a Severance From Service Date by reason of a voluntary termination, discharge or retirement during an absence
from service of 12 months or less for any reason other than a voluntary termination, discharge or retirement, and then performs 1 Hour of Service within 12 months of the date on which the Employee was first absent from service, such Period of
Severance is included in the Period of Vesting Service; 

  

	 	(iii)	period of Vesting Service also includes the following: 

  

	 	(1)	a period of employment with an employer substantially all of the equity interest or assets of which have been acquired by the Company or an Affiliate, but only to the
extent that the Company expressly recognizes such period as a Period of Vesting Service pursuant to written and nondiscriminatory rules; and 

  

	 	(2)	such other periods as the Company recognizes as a Period of Vesting Service pursuant to written and nondiscriminatory rules. 

  

 10 







 ARTICLE II 
 Participation 
  

	2.1	Eligibility and Commencement of Participation 

 Each FMC Participant shall automatically became a Participant in the Plan on such FMC Participant’s Effective Date. Except as otherwise provided in the applicable Supplement, each other Employee
shall automatically become a Participant in the Plan as of the first day of the month in which the Participant satisfies all of the following requirements: 
  

	 	(a)	the Employee is an Eligible Employee; and 

  

	 	(b)	the Employee either (i) is a permanent, full-time Employee, or (ii) has completed not less than 1,000 Hours of Service in a 12-month period beginning on the
date his employment commenced or any anniversary thereof. 

  

	2.2	Provision of Information 

 Each Participant must make available to the Administrator any information it reasonably requests. As a condition of participation in the Plan, each Employee and FMC Participant agrees, on his or her own behalf and on behalf of all persons
who may have or claim any right by reason of the Employee’s participation in the Plan, to be bound by all provisions of the Plan. 
  

	2.3	Termination of Participation 

 A Participant ceases to be a Participant when he or she dies or, if earlier, when his or her entire vested benefit accrued under the Plan has been paid to him or her. 
  

	2.4	Special Rules Relating to Veterans’ Reemployment Rights 

 Notwithstanding any provision of this Plan to the contrary, with respect to an Eligible Employee or Participant who is reemployed in accordance with the reemployment provisions of the Uniformed Services
Employment and Reemployment Rights Act following a period of qualifying military service (as determined under such Act), contributions, benefits and service credit will be provided in accordance with Section 414(u) of the Code. 
  

 11 







 ARTICLE III 
 Normal, Early and Deferred Retirement Benefits 
  

	3.1	Normal Retirement Benefits 

 3.1.1 Normal Retirement: A Participant who retires on the Normal Retirement Date shall be entitled to receive a Normal Retirement Benefit determined under Section 3.1.2. Payment of such benefit shall commence as of the first day
of the month coincident with or next following the Participant’s Normal Retirement Date, unless the Participant elects to defer commencement subject to Section 3.3.2. 
 3.1.2 Calculation of Normal Retirement Benefit: Subject to Section 3.1.3, a Participant’s monthly Normal Retirement Benefit
shall be equal to the product of (a) multiplied by (b) below: 
  

	 	(a)	  1/12th of the sum of (i) and (ii) below: 


  

	 	(i)	 the sum of (1) 1% of the Participant’s Final Average Yearly Earnings up to the Social Security Covered Compensation Base and (2) 1 1/2% of the Participant’s Final Average Yearly
Earnings in excess of the Social Security Covered Compensation Base multiplied by the Participant’s expected Years of Credited Service at age 65 up to 35 Years of Credited Service; and 


  

	 	(ii)	 1 1/2% of the Participant’s Final Average Yearly Earnings multiplied by the Participant’s expected Years of Credited Service at age 65 in excess of 35 Years of Credited
Service. 


  

	 	(b)	the ratio of actual Years of Credited Service to expected Years of Credited Service at age 65. 

 In no event, however, shall an FMC Participant’s monthly Normal Retirement Benefit be less than his or her accrued monthly Normal Retirement Benefit
under the FMC Plan as of December 31, 1990. 
 3.1.3 Increases for Employee Contributions: A Participant’s
Normal Retirement Benefit shall be increased $1 for each $120.00 of unwithdrawn Employee Contributions and Interest credited to the Participant. 
 3.1.4 Reductions for Certain Benefits: A Participant’s Normal Retirement Benefit shall be reduced by the value of (a) for FMC Participants, the FMC Participant’s vested benefit
accrued under the FMC Plan as of November 30, 1985 (to the extent funded by an individual Aetna nonparticipating annuity) and (b) any vested benefit payable to the Participant under the FMC Plan or any pension, profit sharing or other
retirement plan other than the Thrift Plan (hereinafter called “Duplicate Benefit Plan”) which is attributable to any period which

  

 12 







 
counts as Credited Service under this Plan. For purposes of determining the amount of the reduction, the vested benefit under the Duplicate Benefit Plan shall be converted to a form which is
identical to the form of benefit which is to be paid under this Plan. Such conversion will be made using the actuarial assumptions in effect (as shown on Exhibits E-1, E-2, E-3, and E-4, as amended from time to time) as of the Annuity Starting Date.
The value of the Participant’s vested benefit under the Duplicate Benefit Plan shall be determined as of the earlier of such date or the date distribution of such vested benefit was made or commenced. 
  

	3.2	Early Retirement Benefits 

 3.2.1 Early Retirement: A Participant who retires on or after the Early Retirement Date shall be entitled to receive an Early Retirement Benefit determined under Section 3.2.2. Payment of such benefit shall commence as of the
first of the month after the Participant retires or, if the Participant elects, as of the first day of any subsequent month. Any such election of a deferred commencement date may be revoked at any time prior to such date and a new date may be
elected by giving advance written notice to the Administrator in accordance with rules prescribed by the Administrator. 
 3.2.2
Calculation of Early Retirement Benefit: Subject to Sections 3.2.3 and 3.2.4, a Participant’s monthly Early Retirement Benefit shall be equal to the greater of (a) or (b) below: 
  

	 	(a)	an amount determined pursuant to Section 3.1.2; and 

  

	 	(b)	for an FMC Participant, his or her accrued monthly unreduced Early Retirement Benefit under the FMC Plan as of December 31, 1990 that was transferred to the Plan
in the FTI Spinoff. 

 3.2.3 Early Retirement Reduction Factor: The Participant’s
Early Retirement Benefit computed pursuant to Section 3.2.2 shall be reduced by  1/3 of 1% for each month in excess of 36 by which the commencement of the Participant’s Early Retirement Benefit precedes the Participant’s 65th birthday. 
 3.2.4 Adjustments to Early Retirement Benefit: A Participant’s Early Retirement Benefit shall be increased as provided in
Section 3.1.3 except that the number of dollars of unwithdrawn Employee Contributions and Interest required to provide $1 of monthly retirement benefits shall be increased by $3 for each full year by which the commencement of the
Participant’s Early Retirement Benefit precedes the Participant’s Normal Retirement Date. 
  

	3.3	Deferred Retirement Benefits 

 3.3.1 Deferred Retirement: A Participant who retires after the Normal Retirement Date shall be entitled to receive a Normal Retirement Benefit determined under Section 3.1.2 commencing as of
the first day of the month coinciding with or next following the date the Participant actually retires. Each Participant shall accrue additional benefits hereunder after the Participant’s Normal Retirement Date with respect to the portion of
the Normal Retirement Benefit which is attributable to contributions by the Company, and the amount of

  

 13 







 
Employee Contributions and Interest required to provide $1 of monthly retirement benefit under Section 3.1.3 shall be decreased by $3 for each full year by which the commencement of the
Normal Retirement Benefit follows the Normal Retirement Date. 
 3.3.2 Distribution Requirements: Except as hereinafter
provided, unless the Participant elects otherwise in accordance with the terms of the Plan, payment of a Participant’s retirement benefits will begin no later than 60 days after the close of the Plan Year in which the latest of the following
events occurs: 
  

	 	(a)	the Participant’s 65th birthday; 

  

	 	(b)	the 10th anniversary of the year in which the Participant commenced participation in the Plan; and 

  

	 	(c)	the Participant terminates employment with the Company and all Affiliates. 

 If the amount of the payment required to commence on the date determined under this Section 3.3.2 cannot be ascertained by such date, or if it is not possible to make such payment on such date
because the Administrator cannot locate the Participant after making reasonable efforts to do so, a payment retroactive to such date may be made no later than 60 days after the earliest date on which the amount of such payment can be ascertained
under this Plan or the date the Participant is located. 
 Notwithstanding any other provision of this Plan: 
  

	 	(i)	 the accrued benefit of a Participant who attains age 70 1/2 on or after January 1, 2000 must be distributed or commence to
be distributed no later than the April 1 following the later of (1) the calendar year in which the Participant attains age 70 1/2 or (2) the calendar year in which the Participant retires (unless the Participant is a 5% owner, as defined in Code Section 416, of the Company
with respect to the Plan Year in which the Participant attains age 70 1/2 , in which case this Subsection (2) shall not apply); and 


  

	 	(ii)	 the accrued benefit of a Participant who attains age 70 1/2 prior to January 1, 2000 must be distributed or commence to be
distributed no later than the April 1 following the calendar year in which the Participant attains age 70 1/2 unless the Participant is not a 5% owner (as defined in Subsection (i)) and elects to defer distribution to the calendar year in which the Participant retires.



 All Plan distributions will comply with Code Section 401(a)(9), including Department of
Treasury Regulation Section 1.401(a)(9)-2. 
  

 14 








	3.4	Suspension of Benefits 

 3.4.1 Prior to Normal Retirement Date: If a Participant receives retirement benefits under the Plan following a termination of his employment prior to the Participant’s Normal Retirement Date and again becomes an Employee prior
to the Participant’s Normal Retirement Date, no retirement benefits shall be paid during such later period of employment and up to the Participant’s Normal Retirement Date. Any benefits payable under the Plan to or on behalf of the
Participant at the time of the Participant’s subsequent termination of employment shall be reduced by the actuarial equivalent (based on the assumptions in Exhibit E-4) of any benefits paid to the Participant after the Participant earlier
termination and prior to his Normal Retirement Date. 
 3.4.2 After Normal Retirement Date: If (a) a Participant
whose employment terminates again becomes an Employee after the Participant’s Normal Retirement Date, or again becomes an Employee prior to the Participant’s Normal Retirement Date and continues in employment beyond the Participant’s
Normal Retirement Date, or (b) a Participant continues in employment with the Company and Affiliates after his Normal Retirement Date without a prior termination, the following provisions of this Section 3.4.2 shall become applicable to
the Participant as of the Participant’s Normal Retirement Date or, if later, the Participant’s date of reemployment. 
  

	 	(i)	For purposes of this Section 3.4.2, the following definitions shall apply: 

  

	 	(1)	Postretirement Date Service means each calendar month after a Participant’s Normal Retirement Date and subsequent to the time that:


  

	 	(A)	payment of retirement benefits commenced to the Participant if the Participant returned to employment with the Company and Affiliates, or 

  

	 	(B)	payment of retirement benefits would have commenced to him if the Participant had not remained in employment with the Company and Affiliates, 


if in either case the Participant receives pay from the Company and Affiliates for any Hours of Service performed on each of 8 or more
days (or separate work shifts) in such calendar month. 
  

	 	(2)	Suspendable Amount means the monthly retirement benefits otherwise payable in a calendar month in which the Participant is engaged in Postretirement Date
Service. 

  

	 	(ii)	Payment shall be permanently withheld of a portion of a Participant’s retirement benefits, not in excess of the Suspendable Amount, for each calendar month during
which the Participant is employed in Postretirement Date Service. 

  

 15 








	 	(iii)	If payments have been suspended pursuant to Subsection (ii) above, such payments shall resume no later than the first day of the third calendar month after the
calendar month in which the Participant ceases to be employed in Postretirement Date Service; provided, however, that no payments shall resume until the Participant has complied with the requirements set forth in Subsection (vi) below. The
initial payment upon resumption shall include the payment scheduled to occur in the calendar month when payments resume and any amounts withheld during the period between the cessation of Postretirement Date Service and the resumption of payment,
less any amounts that are subject to offset pursuant to Subsection (iv) below. 

  

	 	(iv)	Retirement benefits made subsequent to Postretirement Date Service shall be reduced by (1) the actuarial equivalent (based on the assumptions in Exhibit E-4) of
any benefits paid to the Participant prior to the time the Participant is reemployed after the Participant’s Normal Retirement Date; and (2) the amount of any payments previously made during those calendar months in which the Participant
was engaged in Postretirement Date Service; provided, however, that such reduction under (Subsection (2)) shall not exceed, in any one month, 25% percent of that month’s total retirement benefits (excluding amounts described in Subsection
(ii) above) that would have been due but for the offset. 

  

	 	(v)	Any Participant whose retirement benefits are suspended pursuant to Subsection (ii) of this Section 3.4.2 shall be notified (by personal delivery or certified
or registered mail) during the first calendar month in which payments are withheld that the Participant’s retirement benefits are suspended. Such notification shall include: 

  

	 	(1)	a description of the specific reasons for the suspension of payments; 

  

	 	(2)	a general description of the Plan provisions relating to the suspension; 

  

	 	(3)	a copy of the provisions; 

  

	 	(4)	a statement to the effect that applicable Department of Labor Regulations may be found at Section 2530.203-3 of Title 29 of the Code of Federal Regulations;


  

	 	(5)	the procedure for appealing the suspension, which procedure shall be governed by Section 12.11; and 

  

	 	(6)	the procedure for filing a benefits resumption notification pursuant to Subsection (vi) below. 

  

 16 







 If payments subsequent to the suspension are to be reduced by an offset pursuant to
Subsection (iv) above, the notification shall specifically identify the periods of employment for which the amounts to be offset were paid, the Suspendable Amounts subject to offset, and the manner in which the Plan intends to offset such
Suspendable Amounts. 
  

	 	(vi)	Payments shall not resume as set forth in Subsection (iii) above until a Participant performing Postretirement Date Service notifies the Administrator in writing
of the cessation of such Service and supplies the Administrator with such proof of the cessation as the Administrator may reasonably require. 

  

	 	(vii)	A Participant may request, pursuant to the procedure contained in Section 12.11, a determination whether specific contemplated employment will constitute
Postretirement Date Service. 

  

	3.5	Benefit Limitations 

 3.5.1 Limitation on Accrued Benefit: Notwithstanding any other provision of the Plan, the annual benefit payable under the Plan to a Participant, when expressed as a monthly benefit commencing at the Participant’s Social
Security Retirement Age (as defined in Code Section 415(b)(8)), shall not exceed the lesser of (a) $7,500 or (b) the highest average of the Participant’s monthly compensation for 3 consecutive calendar years, subject to the
following: 
  

	 	(i)	The maximum shall apply to the Individual Life Annuity computed under Section 3.1, 3.2, 3.3 or Article IV and to that portion of the 50% Joint and Survivor’s
Annuity payable to the Participant during the Participant’s lifetime. 

  

	 	(ii)	 If a Participant has fewer than 10 years of participation in the Plan, the maximum dollar limitation of Subsection (a) above shall be multiplied
by a fraction of which the numerator is the Participant’s actual years of participation in the Plan (computed to fractional parts of a year) and the denominator is 10. If a Participant has fewer than 10 Years of Vesting Service, the maximum
compensation limitation in Subsection (b) above shall be multiplied by a fraction of which the numerator is the Years of Vesting Service (computed to fractional parts of a year) and the denominator is 10. Provided, however, that in no event
shall such dollar or compensation limitation, as applicable, be less than  1/10th of such limitation determined without regard to any adjustment under this Subsection (ii). 


  

	 	(iii)	 As of January 1 of each year,  1/12th of the dollar limitation as determined by the Commissioner of Internal Revenue for that calendar year to reflect increases in the cost of living shall
become effective as the maximum dollar limitation in Subsection (a) above for the Plan Year ending within that calendar year for Participants terminating in or after such Plan Year. 


  

 17 








	 	(iv)	The dollar limitation under Subsection (a) above shall be modified as follows to reflect commencement of retirement benefits on a date other than the
Participant’s Social Security Retirement Age: 

  

	 	(1)	 if the Participant’s Social Security Retirement Age is 65, the dollar limitation for benefits commencing on or after age 62 is determined by
reducing the dollar limitation under Subsection (a) above by  5/9ths of 1% for each month by which benefits commence before the month in which the Participant attains age 65; 


  

	 	(2)	 if the Participant’s Social Security Retirement Age is greater than 65, the dollar limitation for benefits commencing on or after age 62 is
determined by reducing the dollar limitation under Subsection (a) above by  5/9ths of 1% for each of the first 36 months and by 5/12ths of 1% for each of the additional months by which benefits commence before the month in which the Participant attains the Participant’s Social Security Retirement Age;



  

	 	(3)	if the Participant’s benefit commences prior to age 62, the dollar limitation shall be the actuarial equivalent of Subsection (a) above, payable at age 62, as
determined above, reduced for each month by which benefits commence before the month in which the Participant attains age 62. The interest rate for determining Actuarial Equivalence shall be the greater of the interest rate assumption under the Plan
for determining early retirement benefits or 5% per year. The mortality basis for determining Actuarial Equivalence for terminations on or after January 1, 1985 shall be the 1983 Group Annuity Mortality Table (weighted 50% male and 50%
female); 

  

	 	(4)	in the case of a Participant whose retirement benefit commences after the Participant’s Social Security Retirement Age, the dollar limitation shall be the
Actuarial Equivalent of Subsection (a) above payable at the Participant’s Social Security Retirement Age, using the lesser of the interest rate assumption under the Plan or 5% per year. The mortality basis for determining Actuarial
Equivalence for terminations on or after January 1, 1985 shall be the 1983 Group Annuity Mortality Table (weighted 50% male and 50% female). 

  

	 	(v)	Notwithstanding the foregoing, the maximum as applied to any FMC Participant on April 1, 1987 shall in no event be less than the FMC Participant’s
“current accrued benefit” as of March 31, 1987, under the FMC Plan, as that term is defined in Section 1106 of the Tax Reform Act of 1986. 

  

	 	(vi)	 The maximum shall apply to the benefits payable to a Participant under the Plan and all other tax-qualified defined benefit plans of the Company and



  

 18 








	 	 
Affiliates (whether or not terminated), and benefits shall be reduced, if necessary, in the reverse of the chronological order of participation in such plans. 


 3.5.2 Multiple Plan Reduction: With respect to each FMC Participant who did not have 1 Hour of Service after December 31, 1999
and who is (or has been) a participant in any defined contribution plan (whether or not terminated) maintained by FMC, the Company or an Affiliate, the sum of the FMC Participant’s defined benefit plan fraction (as defined under Code
Section 415(e)(2)) and defined contribution plan fraction (as defined under Code Section 415(e)(3)) shall not exceed 1. If such sum exceeds 1, the FMC Participant’s defined benefit plan fraction shall be reduced until such sum equal
1. 
 3.5.3 Annual Compensation Limit: The accrued benefit of each “Section 401(a)(17) employee” under this
Plan will be the greater of the accrued benefit determined for the Employee under (a) or (b) below: 
  

	 	(a)	the Employee’s accrued benefit determined with respect to the benefit formula applicable for the Plan Year beginning on or after January 1, 1994, as applied
to the Employee’s total Years of Credited Service, or 

  

	 	(b)	the sum of: 

  

	 	(i)	the Employee’s accrued benefit as of the last day of the last Plan Year beginning before January 1, 1994, frozen in accordance with section 1.401(a)(4)-13 of
the regulations under the Code, and 

  

	 	(ii)	the Employee’s accrued benefit determined under the benefit formula applicable for the Plan Year beginning on or after January 1, 1994, as applied to the
Employee’s Years of Credited Service credited to the Employee for Plan Years beginning on or after January 1, 1994. 

 A “Section 401(a)(17) employee” means an Employee whose current accrued benefit as of a date on or after the first day of the first Plan Year beginning on or after January 1, 1994, is based
on Earnings for a year beginning prior to January 1, 1994 that exceeded $150,000. 
  

	3.6	FMC Participants’ Benefits 

 The Normal Retirement Benefit, Early Retirement Benefit and Termination Benefit for each FMC Participant who is not an Employee and who does not complete an Hour of Service on or after May 1, 2001
shall, notwithstanding the provisions of Sections 3.1, 3.2, 3.3 or 4.2 hereof, equal the accrued benefit of such FMC Participant as transferred from the FMC Plan in the FTI Spinoff. 
  

 19 







 ARTICLE IV 
 Termination Benefits 
  

	4.1	Termination of Service 

 Except as otherwise provided in the applicable Supplement, a Participant who has 5 Years of Vesting Service but who ceases to be an Employee before the Participant’s Early Retirement Date for any reason other than death, shall be
entitled to receive a “Termination Benefit” determined under Section 4.2. Except as otherwise provided in the applicable Supplement, unless the Participant elects otherwise subject to Section 3.3.2, payment of such benefit shall
commence as of the first day of the month coincident with or next following the Participant’s Normal Retirement Date or, if the Participant elects, as of the first day of any month before such Normal Retirement Date and coincident with or
following the Participant’s 55th birthday. Any such election of the earlier Annuity Starting Date shall be made by giving advance written notice to the Administrator in accordance with rules prescribed by the Administrator. Except as provided
in Article V and Article VII, no benefits shall be payable to any person if the Participant dies prior to the Annuity Starting Date. A terminated Participant who has no vested interest in the Participant’s accrued benefit shall be deemed to
have received a distribution of the Participant’s entire vested benefit. The Committee or its delegatee may, in its discretion, fully vest a Participant in the Participant’s accrued benefit in the event the Participant’s employment
with the Company is affected by a transaction undertaken by the Company. 
  

	4.2	Amount of Termination Benefit 

 Except as otherwise provided in the applicable Supplement or in Section 3.6, a Participant’s monthly Termination Benefit shall be determined pursuant to Sections 3.1.2 and 3.1.3 as in effect on the date the Participant terminates
employment, except that the following adjustments shall be made if payment of the Participant’s Termination Benefit is to commence before the Normal Retirement Date: 
  

	 	(a)	 the amount computed pursuant to Section 3.1.2 shall be reduced by  1/2 of 1% for each month between the Annuity Starting Date and the
Normal Retirement Date; 


  

	 	(b)	the amount of Employee Contributions and Interest required to provide $1 of monthly retirement benefit under Section 3.1.3 shall be increased by $3 for each full
year by which the Annuity Starting Date precedes the Normal Retirement Date; 

  

	 	(c)	 notwithstanding Subsection (a) of this Section 4.2, the amounts computed pursuant to Section 3.1.2 shall be reduced by  1/3 of 1% for each month in excess of 36 by which the
Annuity Starting Date precedes the Participant’s 62nd birthday if: 


  

	 	(i)	 the Participant’s combined age and Years of Vesting Service equal at least 65, and the Participant ceases to be an Employee (1) because



  

 20 








	 	 
of the permanent shutdown of a single site of employment or one or more facilities or operating units within a single site of employment or (2) in connection with a permanent reduction in
force; or 


  

	 	(ii)	the Participant has Years of Vesting Service attributable to employment before January 1, 1989, has attained age 40, and permanently ceases to be an Employee
because of the permanent shutdown of a single site of employment, resulting in the termination of employment of not more than 20 Participants at that employment site. 

 Notwithstanding any contrary provision of the Plan, for purposes of determining a Participant’s total combined age and Years of Vesting
Service under Section 4.2(c)(i), a partial month of age or Period of Service shall be counted as a whole month, and fractional years of age and Years of Vesting Service shall be taken into account. 
  

	 	(d)	A Participant covered under Subsection (c) of this Section 4.2 who has 10 Years of Credited Service shall have added to his age the period of time during
which he is receiving severance pay from the Company. 

  

 21 







 ARTICLE V 
 Refund of Employee Contributions 
  

	5.1	Employee Contributions 

 No Employee Contributions are permitted to be made to this Plan. However, Employee Contributions which were transferred from the FMC Plan are held under this Plan for the FMC Participants. 
  

	5.2	Withdrawal of Employee Contributions 

 A FMC Participant may withdraw all of the FMC Participant’s Employee Contributions, plus Interest thereon to the date of withdrawal, at any time before payment of a monthly retirement benefit
commences by giving advance written notice to the Administrator in accordance with procedures prescribed by the Administrator. No partial withdrawal of Employee Contributions and Interest shall be permitted. 
 Payment of the FMC Participant’s Employee Contributions plus Interest shall be in the normal form of benefit (50% Joint and
Survivor’s Annuity for a married FMC Participant, Individual Life Annuity for an unmarried FMC Participant) unless the FMC Participant waives such annuity (with the consent of the FMC Participant’s spouse, if the FMC Participant is
married, in accordance with Section 6.3) and elects payment in a single sum. 
  

	5.3	Refund Upon Death Before Annuity Starting Date 

 If a FMC Participant dies before the Annuity Starting Date, the FMC Participant’s Beneficiary shall receive in a lump sum a refund of the FMC Participant’s unwithdrawn Employee Contributions and
Interest. The refund shall be made as soon as reasonably practicable after the date of the FMC Participant’s death, and Interest shall be computed to the date when the refund is paid. 
  

	5.4	Refund After Annuity Starting Date 

 If a FMC Participant dies after the Annuity Starting Date, there shall be paid to his or her Beneficiary the difference, if any, between such FMC Participant’s Employee Contributions and Interest as
of the Annuity Starting Date and: 
  

	 	(a)	if the FMC Participant elected an Individual Life Annuity or a Level Income Option, the portion of the benefits which the FMC Participant has received which are
attributable to Employee Contributions and Interest; 

  

 22 








	 	(b)	if the FMC Participant elected any other form of benefit, the portion of the benefits received by the FMC Participant and the FMC Participant’s Joint Annuitant
which are attributable to Employee Contributions and Interest. 

 Any payment pursuant to (a) above shall be
made as soon as reasonably practicable after the FMC Participant’s death. Any payment pursuant to (b) above shall be made as soon as reasonably practicable after all other benefit payments to the Joint Annuitant have ceased. 
  

 23 







 ARTICLE VI 
 Payment of Retirement Benefits 
  

	6.1	Normal Form of Benefit 

 Except as otherwise provided in the applicable Supplement, a Participant’s benefit shall be paid in the form of a 50% Joint and Survivor’s Annuity, with the Participant’s spouse as Joint Annuitant if the Participant is
married on the Annuity Starting Date, and in the form of an Individual Life Annuity if the Participant is not married on the Annuity Starting Date, unless the Participant elects with spousal consent not to receive payments pursuant to this 6.1 and
to receive payments in one of the optional forms permitted under Section 6.2. An election not to receive the normal form of benefit and to receive payment in any optional form shall satisfy the applicable requirements of Section 6.3.

  

	6.2	Available Forms of Benefits  

 A Participant may elect with spousal consent and in accordance with Section 6.3, to receive the Participant’s benefits in any one of the forms of benefits described in this Section 6.2.

 6.2.1 Individual Life Annuity: An Individual Life Annuity is an immediate annuity which provides equal monthly
payments for the Participant’s life only. 
 6.2.2 50% Joint and Survivor’s Annuity: A 50% Joint and
Survivor’s Annuity is an immediate annuity which is the actuarial equivalent of an Individual Life Annuity (determined in accordance with Exhibit E-1), but which provides a smaller monthly annuity for the Participant’s life than an
Individual Life Annuity. After the Participant’s death, 50% of such reduced annuity will, subject to Section 6.2, be paid to the Participant’s surviving Joint Annuitant for such Joint Annuitant’s life. 
 6.2.3 100% Joint and Survivor’s Annuity: A 100% Joint and Survivor’s Annuity is an immediate annuity which is the actuarial
equivalent of an Individual Life Annuity (determined in accordance with Exhibit E-2), but which provides a smaller monthly annuity for the Participant’s life than an Individual Life Annuity. After the Participant’s death, 100% of such
reduced annuity will continue to be paid to the Participant’s surviving Joint Annuitant for such Joint Annuitant’s life. 
 6.2.4 Level Income Option: The Level Income Option provides greater monthly annuity payments prior to the Participant’s 62nd birthday (determined in accordance with Exhibit E-3) and after such birthday provides reduced monthly
annuity payments in an amount which, when added to the Primary Social Security Benefits which the Participant could elect to receive, approximately equals the amount of the monthly annuity paid prior to the Participant’s 62nd birthday. A
Participant who is entitled to an Early Retirement Benefit under

  

 24 







 
Section 3.2 and who elects to have such benefit commence prior to age 62 may elect the Level Income Option, unless the Primary Social Security Benefits which the Participant could elect to
receive at age 62 would equal or exceed the amount of the monthly annuity payments prior to age 62 or unless the Participant is receiving Social Security disability benefits. Such election shall be subject to the approval of the Participant’s
spouse, given in accordance with the requirements for spousal consent under Section 6.3. 
  

	6.3	Election of Benefits  

 6.3.1 The Administrator shall provide each Participant with a written notice containing the following information: 
  

	 	(a)	a general description of the normal form of benefit payable under the Plan; 

  

	 	(b)	the Participant’s right to make and the effect of an election to waive the normal form of benefit; 

  

	 	(c)	the right of the Participant’s spouse not to consent to the Participant’s election under Section 6.1; 

  

	 	(d)	the right of Participant to revoke such election, and the effect of such revocation; 

  

	 	(e)	the optional forms of benefits available under the Plan; and 

  

	 	(f)	the Participant’s right to request in writing information on the particular financial effect of an election by the Participant to receive an optional form of
benefit in lieu of the normal form of benefit. 

 6.3.2 The notice under Section 6.3.1 shall be provided to
the Participant at each of the following times as shall be applicable to him: 
  

	 	(a)	not more than 90 days and not less than 30 days after a Participant who is in the employ of the Company or an Affiliate gives notice of the Participant’s intention
to terminate employment and commence receipt of the Participant’s retirement benefits under the Plan; or 

  

	 	(b)	not more than 90 days and not less than 30 days prior to the attainment of age 65 of a Participant (whether or not the Participant has terminated employment) who has
not previously commenced receiving retirement benefits. 

 The election period in Section 6.3.3 for a
Participant who requests additional information during the election period will be extended until 90 days after the additional information is mailed or personally delivered. Any such request shall be made only within 90 days after the date the
information described in Section 6.3.1 is given to the Participant, and the Administrator shall not be obligated to comply with more than one such request. Any

  

 25 







 
information provided pursuant to this Section 6.3.2 will be given to the Participant within 30 days after the date of the Participant’s request and will be based upon the estimated
benefits to which the Participant will be entitled as of the later of the first day on which such benefits could commence or the last day of the Plan Year in which the Participant’s request is received. If a Participant files an election (or
revokes an election) pursuant to this Section 6.3 less than 60 days prior to the Annuity Starting Date, such Participant’s initial payments may be delayed for administrative reasons. In such event, the payments shall begin as soon as
practicable and shall be made retroactively to such date. 
 6.3.3 A Participant may make the election provided in
Section 6.3 by filing the prescribed form with the Administrator at any time during the election period. The election period shall begin 90 days prior to the Participant’s Annuity Starting Date. Such election shall be subject to the
written consent of the Participant’s spouse, acknowledging the effect of the election and witnessed by a Plan representative or a notary public. Such spousal consent shall not be required if the Participant establishes to the satisfaction of
the Administrator that the consent of the spouse may not be obtained because there is no spouse or the spouse cannot be located. A spouse’s consent shall be irrevocable. The election in Section 6.3 may be revoked or changed at any time
during the election period but shall be irrevocable thereafter. 
 6.3.4 Notwithstanding Section 6.3.3: 
  

	 	(a)	distribution of benefits may commence less than 30 days after the notice required pursuant to Section 6.3.1 is provided if: 

  

	 	(i)	the Participant elects to waive the requirement that notice be given at least 30 days prior to the Annuity Starting Date; and 

  

	 	(ii)	the distribution commences more than 7 days after such notice is provided. 

  

	 	(b)	 The notice described in Section 6.3.1 may be provided after the Annuity Starting Date, in which case the applicable election period shall not end
before the 30th day after the date on which such notice is provided, unless the Participant elects to waive the 30-day notice requirements pursuant to Subsection (a) above. 


  

	6.4	Joint Annuitants  

 A Participant who elects a joint and survivor’s annuity shall designate a Joint Annuitant when making such an election. A Participant may designate any individual as the Joint Annuitant; provided, however, that the Joint Annuitant
shall be the Participant’s spouse unless the Participant’s spouse consents to the designation of another individual in accordance with the requirements for spousal consent under Section 6.3.3. A designation of a Joint Annuitant may be
revoked or changed at any time during the applicable election period described in Section 6.3.3 but shall become irrevocable thereafter. If the Joint Annuitant dies on or after the Annuity Starting Date the Participant shall continue to receive
the reduced monthly annuity. 
  

 26 








	6.5	FMC Participants in Pay Status  

 Notwithstanding any provision in the Plan to the contrary, each FMC Participant who had elected to receive and/or was receiving their normal retirement benefit, early retirement benefit, deferred
retirement benefit or termination benefit under the FMC Plan prior to the Effective Date shall on and after the Effective Date continue to receive such benefits in the same form, and in the same amount as such FMC Participant and/or, as applicable,
FMC Joint Annuitant, was receiving or would have received under the FMC Plan prior to the Effective Date as if such benefits were paid by the FMC Plan. In addition, each FMC Beneficiary who was receiving benefits under the FMC Plan on behalf of an
FMC Participant prior to the Effective Date shall continue to receive such benefits from this Plan after the Effective Date in the same form and in the same amount as if such benefits were paid by the FMC Plan. 
  

 27 







 ARTICLE VII 
 Survivor’s Benefits 
  

	7.1	Preretirement Survivor’s Benefit 

 7.1.1 Eligibility: If a Participant who continues to be employed by the Company at any time on or after attaining age 55 and 10 Years of Credited Service dies (whether or not so employed on the
date of death) before the Annuity Starting Date, then such Participant’s surviving Joint Annuitant (if any) shall be entitled to receive a survivor’s benefit for life, determined under Section 7.2. Payment of such benefit shall
commence as of the first day of the month coincident with or next following the date of the Participant’s death. 
 7.1.2
Amount of Preretirement Survivor’s Benefit: The preretirement survivor’s benefit under this Section 7.1 shall be computed as follows: 
  

	 	(a)	If the Participant’s Period of Service has not terminated before the Participant’s death, the survivor’s benefit shall be equal to the benefit which
would have been paid to the Participant’s Joint Annuitant if the Participant’s Period of Service had terminated on the date of death, benefits in the form of a 50% Joint and Survivor’s Annuity commenced as of the first day of the next
following month, and the Participant died on such day. 

  

	 	(b)	If the Participant’s Period of Service has terminated before the Participant’s death but the Participant has deferred the commencement of the Early Retirement
Benefit, the survivor’s benefit shall be equal to the benefit which the Participant’s Joint Annuitant would have been paid if the Participant had elected a 50% Joint and Survivor’s benefit commencing as of the first day of the month
next following the date of the Participant’s death. 

  

	 	(c)	The survivor’s benefit payable pursuant to this Section 7.1.2 shall exclude any retirement benefit based upon Employee Contributions and Interest (which will
be refunded upon the Participant’s death, to the extent provided in Article V). 

 7.1.3 Designation of
Joint Annuitant Other Than Spouse: A participant may elect at any time during the Election Period (as defined in Section 7.1.5) to waive the Preretirement Survivor Annuity and to revoke any such election at any time during the Election
Period. Any election by a Participant to waive the Preretirement Survivor Annuity shall not take effect unless the Participant’s spouse consents in writing to such election, such consent acknowledges the effect of such an election and the
consent is witnessed by a representative of the Plan or a notary public, unless the Participant establishes to the satisfaction of the Committee

  

 28 







 
that such consent may not be obtained because there is no spouse, the spouse cannot be located or because of such other circumstances as the Secretary of the Treasury may by regulations
prescribe. The consent by a spouse shall be irrevocable and shall be effective only with respect to that spouse. 
 7.1.4
Explanation of Preretirement Survivor’s Benefit: The Committee shall provide each Participant with a written explanation with respect to the Preretirement Survivor Annuity as soon as administratively feasible after the Participant
attains age 55. The explanation shall include: 
  

	 	(a)	the terms and conditions of the Preretirement Survivor Annuity, 

  

	 	(b)	the Participant’s right to make, and the effect of, an election to waive the Preretirement Survivor Annuity, 

  

	 	(c)	the rights of the Participant’s spouse in connection therewith, and 

  

	 	(d)	the right to make, and the effect of, the revocation of an election to waive the Preretirement Survivor Annuity. 

 7.1.5 Election Period: For purposes of this Section 7.1.5, the term “Election Period” means the period that begins on
the Participant’s 55th birthday and ends on the date of the Participant’s death. 
  

	7.2	Surviving Spouse’s Benefit  

 If a Participant who has 5 or more Years of Vesting Service but does not meet the requirements for the preretirement survivor’s benefit under Section 7.1 dies before the Annuity Starting Date,
then such Participant’s surviving spouse (if any) shall be entitled to receive a survivor’s benefit for life. The amount of such survivor’s benefit shall be determined pursuant to Section 4.2 based upon the Participant’s age
and Years of Credited Service on the date of the Participant’s death and paid in the form of a 50% Joint and Survivor’s Annuity as if the Participant had died on the date such benefits commenced. The survivor’s benefit payable
pursuant to this Section 7.2 shall exclude any retirement benefit based upon Employee Contributions and Interest (which will be refunded upon the Participant’s death to the extent provided in Article V). Payment of the survivor’s
benefit shall commence on the first day of the month coincident with or next following the later of the Participant’s 55th birthday or his death, unless the Participant’s spouse elects to commence payment of benefits as of the first day of
any subsequent month, but not later than the Participant’s Normal Retirement Date. 
  

	7.3	Certain Former Employees 

 FMC Participants who have 10 Years of Vesting Service but who have not been credited with an Hour of Service on or after August 23, 1984 and are not receiving benefits on that date shall be entitled to elect survivor’s benefits
only as follows: 
  

	 	(a)	If the FMC Participant was credited with an Hour of Service under the FMC Plan or a predecessor plan on or after September 2, 1974, but is not otherwise credited
with an Hour of Service in a Plan Year beginning on or after January 1, 1976, under the FMC Plan or this Plan, the Participant shall be afforded an opportunity to elect payment of benefits in the form of a 50% Joint and Survivor’s Annuity.


  

 29 








	 	(b)	If the Participant is credited with an Hour of Service under this Plan, the FMC Plan or a predecessor plan in a Plan Year beginning after December 31, 1975, the
Participant shall be afforded the opportunity to elect a Surviving Spouse’s Benefit under Section 7.2. 

  

 30 







 ARTICLE VIII 
 Fiduciaries 
  

	8.1	Named Fiduciaries 

 8.1.1 The Company is the Plan sponsor and a “named fiduciary” with respect to control over and management of the Plan’s assets only to the extent that it (a) shall appoint the members of the Committee which administers
the Plan at the Administrator’s direction; (b) shall delegate its authorities and duties as “plan administrator,” as defined under ERISA, to the Committee; and (c) shall continually monitor the performance of the Committee.

 8.1.2 The Company, as Administrator, and the Committee, which administers the Plan at the Administrator’s direction, are
“named fiduciaries” of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to control and manage the operation and administration of the Plan. The Administrator is also the “administrator” and
“plan administrator” of the Plan, as those terms are defined in ERISA Section 3(16)(A) and Code Section 414(g), respectively. 
 8.1.3 The Trustee is a “named fiduciary” of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to manage and control all Trust assets, except to the extent that
authority is delegated to an Investment Manager or to the extent the Administrator or the Committee directs the allocation of Trust assets among general investment categories. 
 8.1.4 The Company, the Administrator, and the Trustee are the only named fiduciaries of the Plan. 
  

	8.2	Employment of Advisers 

 A named fiduciary, and any fiduciary appointed by a named fiduciary, may employ one or more persons to render advice regarding any of the named fiduciary’s or fiduciary’s responsibilities under the Plan. 
  

	8.3	Multiple Fiduciary Capacities 

 Any named fiduciary and any other fiduciary may serve in more than one fiduciary capacity with respect to the Plan. 
  

	8.4	Payment of Expenses 

 All Plan expenses, including expenses of the Administrator, the Committee, the Trustee, any Investment Manager and any insurance company, will be paid by the Trust Fund, unless a Participating Employer elects to pay some or all of those
expenses. 
  

 31 








	8.5	Indemnification 

 To the extent not prohibited by state or federal law, each Participating Employer agrees to, and will indemnify and save harmless the Administrator, any past, present, additional or replacement member of the Committee, and any other
employee, officer or director of that Participating Employer, from all claims for liability, loss, damage (including payment of expenses to defend against any such claim) fees, fines, taxes, interest, penalties and expenses which result from any
exercise or failure to exercise any responsibilities with respect to the Plan, other than willful misconduct or willful failure to act. 
  

 32 







 ARTICLE IX 
 Plan Administration 
  

	9.1	Powers, Duties and Responsibilities of the Administrator and the Committee 

 9.1.1 The Administrator and the Committee have full discretion and power to construe the Plan and to determine all questions of fact or
interpretation that may arise under it. Interpretation of the Plan or determination of questions of fact regarding the Plan by the Administrator or the Committee will be conclusively binding on all persons interested in the Plan. 
 9.1.2 The Administrator and the Committee have the power to promulgate such rules and procedures, to maintain or cause to be maintained such
records, and to issue such forms as they deem necessary or proper to administer the Plan. 
 9.1.3 Subject to the terms of the
Plan, the Administrator and/or the Committee will determine the time and manner in which all elections authorized by the Plan must be made or revoked. 
 9.1.4 The Administrator and the Committee have all the rights, powers, duties and obligations granted or imposed upon them elsewhere in the Plan. 
 9.1.5 The Administrator and the Committee have the power to do all other acts in the judgment of the Administrator or Committee necessary or
desirable for the proper and advantageous administration of the Plan. 
 9.1.6 The Administrator and the Committee will exercise
all responsibilities in a uniform and nondiscriminatory manner. 
  

	9.2	Delegation of Administration Responsibilities 

 The Administrator and the Committee may designate by written instrument one or more actuaries, accountants or consultants as fiduciaries to carry out, where appropriate, their administrative
responsibilities, including their fiduciary duties. The Committee may from time to time allocate or delegate to any subcommittee, member of the Committee and others, not necessarily employees of the Company, any of its duties relative to compliance
with ERISA, administration of the Plan and other related matters, including those involving the exercise of discretion. The Company’s duties and responsibilities under the Plan shall be carried out by its directors, officers and employees,
acting on behalf of and in the name of the Company in their capacities as directors, officers and employees, and not as individual fiduciaries. No director, officer nor employee of the Company shall be a fiduciary with respect to the Plan unless he
or she is specifically so designated and expressly accepts such designation. 
  

 33 








	9.3	Committee Members  

 The Committee shall consist of not less than three people, who need not be directors, and shall be appointed by the Chief Executive Officer of the Company. Any Committee member may resign and the Chief Executive Officer may remove any
Committee member, with or without cause, at any time. A majority of the members of the Committee shall constitute a quorum for the transaction of business and the act of a majority of the Committee members at a meeting at which a quorum is present
shall be the act of the Committee. The Committee can act by written consent signed by all of its members. Any members of the Committee who are Employees shall not receive compensation for their services for the Committee. No Committee member shall
be entitled to act on or decide any matter relating solely to his or her status as a Participant. 
  

 34 







 ARTICLE X 
 Funding of the Plan 
  

	10.1	Appointment of Trustee 

 The Committee or its authorized delegatee will appoint the Trustee and either may remove it. The Trustee accepts its appointment by executing the Trust Agreement. A Trustee will be subject to direction by the Committee or its authorized
delegatee or, to the extent specified by the Company, by an Investment Manager, and will have the degree of discretion to manage and control Plan assets specified in the Trust Agreement. Neither the Company nor any other Plan fiduciary will be
liable for any act or omission to act of a Trustee, as to duties delegated to the Trustee. 
  

	10.2	Actuarial Cost Method  

 The Committee or its authorized delegatee shall determine the actuarial cost method to be used in determining costs and liabilities under the Plan pursuant to Section 301 et seq., of ERISA, and Section 412 of the Code. The
Committee or its authorized delegatee shall review such actuarial cost method from time to time, and if it determines from review that such method is no longer appropriate, then it shall petition the Secretary of the Treasury for approval of a
change of actuarial cost method. 
  

	10.3	Cost of the Plan  

 Annually the Committee or its authorized delegatee shall determine the normal cost of the Plan for the Plan Year and the amount (if any) of the unfunded past service cost on the basis of the actuarial cost method established for the Plan
using actuarial assumptions which, in the aggregate, are reasonable. The Committee or its authorized delegatee shall also determine the contributions required to be made for each Plan Year by the Participating Employers in order to satisfy the
minimum funding standard (or alternative minimum funding standard) for such Plan Year determined pursuant to Sections 302 through 305 of ERISA and Section 412 of the Code. 
  

	10.4	Funding Policy  

 The Participating Employers shall cause contributions to be made to the Plan for each Plan Year in the amount necessary to satisfy the minimum funding standard (or alternative minimum funding standard) for such Plan Year; provided, however,
that this obligation shall cease when the Plan is terminated. In the case of a partial termination of the Plan, this obligation shall cease with respect to those Participants, Joint Annuitants and Beneficiaries who are affected by such partial
termination. Each contribution is conditioned upon its deductibility under Section 404 of the Code and shall be returned to the Participating Employers within one year after the disallowance of the deduction (to the extent disallowed). Upon the
Company’s written request, a contribution that was made by a mistake of fact shall be returned to the Participating Employer within one year after the payment of the contribution. 
  

 35 








	10.5	Cash Needs of the Plan  

 The Committee or its authorized delegatee from time to time shall estimate the benefits and administrative expenses to be paid out of the Plan during the period for which the estimate is made and shall also estimate the contributions to be
made to the Plan during such period by the Participating Employers. The Committee or its authorized delegatee shall inform the Trustees of the estimated cash needs of and contributions to the Plan during the period for which such estimates are made.
Such estimates shall be made on an annual, quarterly, monthly or other basis, as the Committee shall determine. 
  

	10.6	Public Accountant  

 The Committee or its authorized delegatee shall engage an independent qualified public accountant to conduct such examinations and to render such opinions as may be required by Section 103(a)(3) of ERISA. The Committee or its
authorized delegatee in its discretion may remove and discharge the person so engaged, but in such case it shall engage a successor independent qualified public accountant to perform such examinations and to render such opinions. 
  

	10.7	Enrolled Actuary  

 The Committee or its authorized delegatee shall engage an enrolled actuary to prepare the actuarial statement described in Section 103(d) of ERISA and to render the opinion described in Section 103(a)(4) of ERISA. The Committee or
its authorized delegatee in its discretion may remove and discharge the person so engaged, but in such event it shall engage a successor enrolled actuary to perform such examination and render such opinion. 
  

	10.8	Basis of Payments to the Plan 

 All contributions to the Plan shall be made by the Participating Employers, and no contributions shall be required of or permitted by Participants. From time to time the Participating Employers shall make
such contributions to the Plan as the Company determines to be necessary or desirable in order to fund the benefits provided by the Plan, and any expenses thereof which are paid out of the Trust Fund and in order to carry out the obligations of the
Participating Employers set forth in Section 10.3. All contributions to the Plan shall be held by the Trustee in accordance with the Trust Agreement. 
  

	10.9	Basis of Payments from the Plan  

 All benefits payable under the Plan shall be paid by the Trustee out of the Trust Fund pursuant to the directions of the Administrator or the Committee and the terms of the Trust Agreement. The Trustee
shall pay all proper expenses of the Plan and the Trust Fund out of the Trust Fund, except to the extent paid by the Participating Employers. 
  

 36 







 ARTICLE XI 
 Plan Amendment or Termination 
  

	11.1	Plan Amendment or Termination 

 The Company may amend, modify or terminate the Plan at any time by resolution of the Board or by resolution of or other action recorded in the minutes of the Administrator or the Committee. Execution and
delivery by the Chairman of the Board, the President, any Vice President of the Company or the Committee of an amendment to the Plan is conclusive evidence of the amendment, modification or termination. 
  

	11.2	Limitations on Plan Amendment 

 No Plan amendment can: 
  

	 	(a)	authorize any part of the Trust Fund to be used for, or diverted to, purposes other than the exclusive benefit of Participants or their Joint Annuitants and
Beneficiaries; 

  

	 	(b)	decrease the accrued benefits of any Participant or his or her Joint Annuitant or Beneficiary under the Plan; or 

  

	 	(c)	except to the extent permitted by law, eliminate or reduce an early retirement benefit or retirement-type subsidy (as defined in Code Section 411) or an optional
form of benefit with respect to service prior to the date the amendment is adopted or effective, whichever is later. 

  

	11.3	Effect of Plan Termination  

 Upon termination of the Plan, each Participant’s rights to benefits accrued hereunder shall be vested and nonforfeitable, and the Trust shall continue until the Trust Fund has been distributed as
provided in Section 11.4. Any other provision hereof notwithstanding, the Participating Employers shall have no obligation to continue making contributions to the Plan after termination of the Plan. Except as otherwise provided in ERISA,
neither the Participating Employers nor any other person shall have any liability or obligation to provide benefits hereunder after such termination in excess of the value of the Trust Fund. Upon such termination, Participants, Joint Annuitants, and
Beneficiaries shall obtain benefits solely from the Trust Fund. Upon partial termination of the Plan, this Section 11.3 shall apply only with respect to such Participants, Joint Annuitants and Beneficiaries as are affected by such partial
termination. 
  

 37 








	11.4	Allocation of Trust Fund on Termination  

 On termination of the Plan, the Trust Fund shall be allocated by the Administrator on an actuarial basis among Participants, Joint Annuitants and Beneficiaries in the manner prescribed by
Section 4044 of ERISA. Any residual assets of the Trust Fund remaining after such allocation shall be distributed to the Company if (a) all liabilities of the Plan to Participants, Joint Annuitants and Beneficiaries have been satisfied and
(b) such a distribution does not contravene any provision of law. The foregoing notwithstanding, if any remaining assets of the Plan are attributable to Employee Contributions, such assets shall be equitably distributed to the FMC Participants
who made such contributions (or to their Beneficiaries) in accordance with their rate of contribution. The benefit of any highly compensated employee or former employee (determined in accordance with section 414(g) of the Code and regulations
thereunder) shall be limited to a benefit that is nondiscriminatory under section 401(a)(4) of the Code. In the event of a partial termination of the Plan, the Administrator shall arrange for the division of the Trust Fund, on a nondiscriminatory
basis to the extent required by section 401 of the Code, into the portion attributable to those Participants, Joint Annuitants and Beneficiaries who are not affected by such partial termination and the portion attributable to such persons who are so
affected. The portion of the Trust Fund attributable to persons who are so affected shall be allocated in the manner prescribed by section 4044 of ERISA. 
  

 38 







 ARTICLE XII 
 Miscellaneous Provisions 
  

	12.1	Subsequent Changes  

 All benefits to which any Participant, Joint Annuitant, or Beneficiary may be entitled hereunder shall be determined under the Plan in effect when the Participant ceases to be an Eligible Employee (or under the FMC Plan, as of the date each
FMC Participant who is not an Employee ceased being an eligible employee under the FMC Plan) and shall not be affected by any subsequent change in the provisions of the Plan, unless the Participant again becomes an Eligible Employee. 
  

	12.2	Plan Mergers  

 The
Plan shall not be merged or consolidated with any other plan, and no assets or liabilities of the Plan shall be transferred to any other plan, unless each Participant would receive a benefit immediately after such merger, consolidation or transfer
(if the Plan then terminated) which is equal to or greater than the benefit such Participant would have been entitled to receive immediately before such merger, consolidation or transfer (if the Plan had then been terminated). A list of plans which
were merged into the FMC Plan since May 27, 1994 and whose assets were transferred to the Plan in connection with the FTI Spinoff is attached hereto and made a part hereof as Exhibit C. 
  

	12.3	No Assignment of Property Rights  

 The interest or property rights of any person in the Plan, in the Trust Fund or in any payment to be made under the Plan shall not be assignable nor be subject to alienation or option, either by voluntary
or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any act in violation of this Section 12.3 shall be void. This provision shall not apply
to a “qualified domestic relations order” defined in Code Section 414(p). The Company shall establish a written procedure to determine the qualified status of domestic relations orders and to administer distributions under such
qualified orders. 
 In addition, the prohibition of this Section 12.3 will not apply to any offset of a Participant’s
benefit under the Plan against an amount the Participant is ordered or required to pay to the Plan under a judgment, order, decree or settlement agreement that meets the requirements as set forth in this Section 12.3. The Participant must be
ordered or required to pay the Plan under a judgment of conviction for a crime involving the Plan, under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection with a violation (or alleged
violation) of part 4 of subtitle B of title I of ERISA, or pursuant to a settlement agreement between the Secretary of Labor and the Participant in connection with a violation (or alleged violation) of that part 4. This judgment, order, decree or
settlement agreement must expressly provide for the offset of all or part of the amount that must be paid to

  

 39 







 
the Plan against the Participant’s benefit under the Plan. In addition, if a Participant is entitled to receive a 50% Joint and Survivor Annuity under Section 6.1 of the Plan or a
Survivor’s Benefit under Article VII of the Plan, and the Participant is married at the time at which the offset is to be made, the Participant’s spouse must consent to the offset in accordance with the spousal consent requirements of
Section 6.3.3 of the Plan, an election to waive the right of the spouse to the 50% Joint and Survivor Annuity (made in accordance with Section 6.3 of the Plan) or to the Survivor’s Benefit (made in accordance with Article VII of the
Plan) must be in effect, the spouse is ordered or required in the judgment, order, decree, or settlement to pay an amount to the Plan in connection with a violation of Part 4 of subtitle B or ERISA Title I, or the spouse retains in the judgment,
order, decree, or settlement the right to receive the survivor annuity under the 50% Joint and Survivor Annuity or under the Survivor’s Benefit, determined in the following manner: the Participant terminated employment on the date of the
offset, there was no offset, the Plan permitted the commencement of benefits only on or after Normal Retirement Age, the Plan provided only the minimum-required qualified joint and survivor annuity, and the amount of the Survivor’s Benefit
under the Plan is equal to the amount of the survivor annuity payable under the minimum-required qualified joint and survivor annuity. For purposes of this Section 12.3 the term “minimum-required qualified joint and survivor annuity”
means a qualified joint and survivor annuity which is the actuarial equivalent of the Participant’s accrued benefit and under which the survivor’s annuity is 50% of the amount of the annuity which is payable during the joint lives of the
Participant and the Participant’s spouse. 
  

	12.4	Beneficiary  

 The
Beneficiary of a Participant shall be the person or persons so designated by such Participant. If no Beneficiary has been designated or if the designated Beneficiary is not living when a Plan Benefit is to be distributed, the Beneficiary shall be
such Participant’s spouse if then living or, if not, such Participant’s then living children in equal shares or, if there are no children, such Participant’s estate. A Participant may revoke and change a designation of a Beneficiary
at any time. A designation of a Beneficiary, or any revocation and change thereof, shall be effective only if it is made in writing in a form acceptable to the Administrator and is received by it prior to the Participant’s death. 
  

	12.5	Benefits Payable to Minors, Incompetents and Others 

 If any benefit is payable to a minor, an incompetent, or a person otherwise under a legal disability, or to a person the Administrator reasonably believes to be physically or mentally incapable of
handling and disposing of his or her property, whether because of his or her advanced age, illness, or other physical or mental impairment, the Administrator has the power to apply all or any part of the benefit directly to the care, comfort,
maintenance, support, education, or use of the person, or to pay all or any part of the benefit to the person’s parent, guardian, committee, conservator, or other legal representative, wherever appointed, to the individual with whom the person
is living or to any other individual or entity having the care and control of the person. The Plan, the Administrator and any other Plan fiduciary will have fully discharged all responsibilities to the Participant, Joint Annuitant or Beneficiary
entitled to a payment by making payment under the preceding sentence. 
  

 40 








	12.6	Employment Rights  

 Nothing in the Plan shall be deemed to give any person a right to remain in the employ of the Company and Affiliates or affect any right of the Company or any Affiliate to terminate a person’s employment with or without cause.

  

	12.7	Proof of Age and Marriage  

 Participants and Joint Annuitants shall furnish proof of age and marital status satisfactory to the Administrator at such time or times as it shall prescribe. The Administrator may delay the disbursement of any benefits under the Plan until
all pertinent information with respect to age or marital status has been furnished and then make payment retroactively. 
  

	12.8	Small Annuities  

 If the lump sum Actuarial Equivalent value of (a) a Normal, Early, or Deferred Retirement Benefit under Article III, Termination Benefit (payable at the Participant’s Normal Retirement Date) under Article IV, or Survivor’s
Benefit under Article VII, excluding the individual Aetna nonparticipating annuity (if any), and (b) the lump sum Actuarial Equivalent value of the individual Aetna nonparticipating annuity (if any) are both $5,000 or less, such amounts shall
be paid in a lump sum as soon as administratively practicable following the Participant’s retirement, termination of employment, or death. 
 If a lump sum distribution is so paid and the Participant is thereafter reemployed by the Company, the Participant shall have the option to repay to the Plan the amount of such distribution, together with
interest at the rate of 5% per annum (or such other rate as may be prescribed pursuant to section 411(c)(2)(C)(III) of the Code), compounded annually from the date of the distribution to the date of repayment. If a reemployed Participant does
not make such repayment, no part of the Period of Service with respect to which the lump sum distribution was made shall count as Years of Vesting Service or Years of Credited Service. 
  

	12.9	Controlling Law 

 The Plan and all rights thereunder shall be interpreted and construed in accordance with ERISA and, to the extent that state law is not preempted by ERISA, the law of the State of Illinois. 
  

	12.10	Direct Rollover Option 

 Notwithstanding any provision of the Plan to the contrary that would otherwise limit a distributee’s election under this Section 12.10, a distributee may elect, at the time and in the manner prescribed by the Administrator, to
have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. 
  

	 	(a)	 As used in this Section 12.10, an “eligible rollover distribution” means any distribution of all or any portion of the balance to the
credit of the



  

 41 








	 	 
distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually)
made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated beneficiary, or for a specified period of 10 years or more; any distribution to the
extent such distribution is required under Section 401(a)(9) of the Code; the portion of any distribution that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to
employer securities); and any other distribution(s) that is reasonably expected to total less than $200 during a year. 


  

	 	(b)	As used in this Section 12.10, an “eligible retirement plan” means an individual retirement account described in Section 408(a) of the Code, an
individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the distributee’s eligible
rollover distribution. In the case of an eligible rollover distribution to the surviving spouse, however, an eligible retirement plan is an individual retirement account or individual retirement annuity. 

  

	 	(c)	As used in this Section 12.10, a “distributee” includes an Employee or former Employee. In addition, the Employee’s or former Employee’s
surviving spouse and the Employee’s or former Employee’s spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code, are distributees with regard to the
interest of the spouse or former spouse. 

  

	 	(d)	As used in this Section 12.10, a “direct rollover” is a payment by the Plan to the eligible retirement plan specified by the distributee.


  

	12.11	Claims Procedure 

 12.11.1 Any application for benefits under the Plan and all inquiries concerning the Plan shall be submitted to the Company at such address as may be announced to Participants from time to time. Applications for benefits shall be in writing
on the form prescribed by the Company and shall be signed by the Participant or, in the case of a benefit payable after the death of the Participant, by the Participant’s surviving spouse, Joint Annuitant or Beneficiary, as the case may be.

 12.11.2 The Company shall give written notice of its decision on any application to the applicant within 90 days. If special
circumstances require a longer period of time the Company shall so notify the applicant within 90 days, and give written notice of its decision to the applicant within 180 days after receiving the application. In the event any application for
benefits is denied in whole or in part, the Company shall notify the applicant in writing of the right to a review of the denial. Such written notice shall set forth, in a manner calculated to be understood by the applicant, specific reasons for the
denial, specific references to the Plan

  

 42 







 
provisions on which the denial is based, a description of any information or material necessary to perfect the application, an explanation of why such material is necessary and an explanation of
the Plan’s review procedure. 
 12.11.3 The Company shall appoint a “Review Panel,” which shall consist of three
or more individuals who may (but need not) be employees of the Company. The Review Panel shall be the named fiduciary which has the authority to act with respect to any appeal from a denial of benefits under the Plan. 
 12.11.4 Any person (or his authorized representative) whose application for benefits is denied in whole or in part may appeal the denial by
submitting to the Review Panel a request for a review of the application within 60 days after receiving written notice of the denial. The Company shall give the applicant or such representative an opportunity to review, by written request, pertinent
materials (other than legally privileged documents) in preparing such request for review. The request for review shall be in writing and addressed as follows: “Review Panel of the Employee Benefits Plan Committee, 200 East Randolph Drive,
Chicago, Illinois 60601.” The request for review shall set forth all of the grounds on which it is based, all facts in support of the request and any other matters which the applicant deems pertinent. The Review Panel may require the applicant
to submit such additional facts, documents or other material as it may deem necessary or appropriate in making its review. 
 12.11.5 The Review Panel shall act upon each request for review within 60 days after receipt thereof. If special circumstances require a longer period of time the Review Panel shall so notify the applicant within 60 days, and give written
notice of its decision to the applicant within 120 days after receiving the request for review. The Review Panel shall give notice of its decision to the Company and to the applicant in writing. In the event the Review Panel confirms the denial of
the application for benefits in whole or in part, such notice shall set forth in a manner calculated to be understood by the applicant, the specific reasons for such denial and specific references to the Plan provisions on which the decision is
based. 
 12.11.6 The Review Panel shall establish such rules and procedures, consistent with ERISA and the Plan, as it may deem
necessary or appropriate in carrying out its responsibilities under this Section 12.11. 
 12.11.7 No legal or equitable
action for benefits under the Plan shall be brought unless and until the claimant (a) has submitted a written application for benefits in accordance with Section 12.10.1, (b) has been notified by the Company that the application is
denied, (c) has filed a written request for a review of the application in accordance with Section 12.10.4 and (d) has been notified in writing that the Review Panel has affirmed the denial of the application; provided that legal
action may be brought after the Review Panel has failed to take any action on the claim within the time prescribed in Section 12.11.5. A claimant may not bring an action for benefits in accordance with this Section 12.11.7 after 90 days
after the Review Panel denies the claimant’s application for benefits. 
  

 43 








	12.12	Participation in the Plan by an Affiliate 

 12.12.1 With the consent of the Board, any Affiliate, by appropriate action of its board of directors, a general partner or the sole proprietor, as the case may be, may adopt the Plan and determine the
classes of its Employees that will be Eligible Employees. 
 12.12.2 A Participating Employer will have no power with respect to
the Plan except as specifically provided herein. 
  

	12.13	Action by Participating Employers 

 Any action required to be taken by the Company pursuant to any Plan provisions will be evidenced in the manner set forth in Section 11.1. Any action required to be taken by a Participating Employer
will be evidenced by a resolution of the Participating Employer’s board of directors (or an authorized committee of that board). Participating Employer action may also be evidenced by a written instrument executed by any person or persons
authorized to take the action by the Participating Employer’s board of directors, any authorized committee of that board, or the stockholders. A copy of any written instrument evidencing the action by the Company or Participating Employer must
be delivered to the secretary or assistant secretary of the Company or Participating Employer. 
  

 44 







 ARTICLE XIII 
 Top Heavy Provisions 
  

	13.1	Top Heavy Definitions 

 For purposes of this Article XIII and any amendments to it, the terms listed in this Section 13.1 have the meanings ascribed to them below. 
 Aggregate Account means the value of all accounts maintained on behalf of a Participant, whether attributable to Company or employee contributions, determined under applicable provisions of
the defined contribution plan used in determining Top Heavy Plan status. 
 Aggregation Group means the group of
plans in a Mandatory Aggregation Group, if any, that includes the Plan, unless including additional Related Plans in the group would prevent the Plan for being a Top Heavy Plan, in which case Aggregation Group means the group of plans in a
Permissive Aggregation Group, if any, that includes the Plan. 
 Compensation means compensation as defined in
Code Section 415(c)(3) and Treasury regulations thereunder. For purposes of determining who is a Key Employee, Compensation will be applied by taking into account amounts paid by Affiliates who are not Participating Employers, as well as
amounts paid by Participating Employers, and without applying the exclusions for amounts paid by a Participating Employer to cover an Employee’s nonqualified deferred compensation FICA tax obligations and for gross-up payments on such FICA tax
payments. 
 Determination Date means, for a Plan Year, the last day of the preceding Plan Year. If the Plan is
part of an Aggregation Group, the Determination Date for each other plan will be, for any Plan Year, the Determination Date for that other plan that falls in the same calendar year as the Determination Date for the Plan. 
 Key Employee means an employee described in Code Section 416(i)(1) and the regulations promulgated thereunder. Generally,
a Key Employee is an Employee or former Employee who, at any time during the Plan Year containing the Determination Date or any of the 4 preceding Plan Years, is: 
  

	 	(a)	an officer of the Company or an Affiliate with annual Compensation greater than 50% of the amount in effect under Code Section 415(b)(1)(A);


  

	 	(b)	one of the 10 Employees of the Company and all Affiliates owning (or considered to own within the meaning of Code Section 318) the largest interests in any of the
Company and the Affiliates, but only if the Employee has annual Compensation greater than the limitation in effect under Code Section 415(c)(1)(A); 

  

	 	(c)	a 5% owner of the Company or an Affiliate; or 

  

 45 








	 	(d)	a 1% owner of the Company or an Affiliate with annual Compensation from the Company and all Affiliates of more than $150,000. 

 Mandatory Aggregation Group means each plan (considering the Plan and Related Plans) that, during the Plan Year that contains
the Determination Date or any of the 4 preceding Plan Years: 
  

	 	(a)	had a participant who was a Key Employee; or 

  

	 	(b)	was required to be considered with a plan in which a Key Employee participated in order to enable the plan in which the Key Employee participated to meet the
requirements of Code Section 401(a)(4) or 410(b). 

 Non-Key Employee means an Employee or
former Employee who is not a Key Employee. 
 Permissive Aggregation Group means the group of plans consisting of
the plans in a Mandatory Aggregation Group with the Plan, plus any other Related Plan or Plans that, when considered as a part of the Aggregation Group, does not cause the Aggregation Group to fail to satisfy the requirements of Code
Section 401(a)(4) or 410(b). 
 Present Value of Accrued Benefits means, in the case of a defined benefit
plan, a Participant’s present value of accrued benefits determined as follows: 
  

	 	(a)	as of the most recent “Actuarial Valuation Date,” which is the most recent valuation date within a 12-month period ending on the Determination Date.


  

	 	(b)	as if the Participant terminated service as of the actuarial valuation date; and 

  

	 	(c)	the Actuarial Valuation Date must be the same date used for computing the defined benefit plan minimum funding costs, regardless of whether a valuation is performed
that Plan Year. 

 Present Value means, in calculating a Participant’s present value of accrued
benefits as of a Determination Date, the sum of: 
  

	 	(a)	the present value of accrued benefits using the actuarial assumptions of Exhibit E-4; 

  

	 	(b)	 any Plan distributions made within the Plan Year that includes the Determination Date or within the 4 preceding Plan Years. However, in the case of
distributions made after the valuation date and prior to the Determination Date, such distributions are not included as distributions for top heavy purposes to the extent that such distributions are already included in the Participant’s present
value of accrued benefits as of the



  

 46 








	 	 
valuation date. Notwithstanding anything herein to the contrary, all distributions, including distributions under a terminated plan which if it had not been terminated would have been required to
be included in an Aggregation Group, will be counted; 


  

	 	(c)	any Employee Contributions, whether voluntary or mandatory. However, amounts attributable to tax deductible Qualified Voluntary Employee Contributions shall not be
considered to be a part of the Participant’s present value of accrued benefits; 

  

	 	(d)	with respect to unrelated rollovers and plan-to-plan transfers (ones which are both initiated by the Participant and made from a plan maintained by one employer to a
plan maintained by another employer), if this Plan provides for rollovers or plan-to-plan transfers, it shall always consider such rollover or plan-to-plan transfer as a distribution for the purposes of this Section 13.1. If this Plan is the
plan accepting such rollovers or plan-to-plan transfers, it shall not consider such rollovers or plan-to-plan transfers, as part of the Participant’s present value of accrued benefits; and 

  

	 	(e)	with respect to related rollovers and plan-to-plan transfers (ones either not initiated by the Participant or made to a plan maintained by the same employer), if this
Plan provides the rollover or plan-to-plan transfer, it shall not be counted as a distribution for purposes of this Section. If this Plan is the plan accepting such rollover or plan-to-plan transfer, it shall consider such rollover or plan-to-plan
transfer as part of the Participant’s present value of accrued benefits, irrespective of the date on which such rollover or plan-to-plan transfer is accepted. 

 Related Plan means any other defined contribution plan (a “Related Defined Contribution Plan”) or defined benefit
plan (a “Related Defined Benefit Plan”) (both as defined in Code Section 415(k), maintained by the Company or an Affiliate. 
 A Super Top Heavy Aggregation Group exists in any Plan Year for which, as of the Determination Date, the sum of the present value of accrued benefits and the Aggregate Accounts of Key
Employees under all plans in the Aggregation Group exceeds 90% of the sum of the present value of accrued benefits and the Aggregate Accounts of all employees under all plans in the Aggregation Group. In determining the sum of the Present Value of
Accrued Benefits and/or Aggregate Accounts for all employees, the present value of accrued benefits and/or Aggregate Accounts for any Non-key Employee who was a Key Employee for any Plan Year preceding the Plan Year that contains the Determination
Date will be excluded. 
 Super Top Heavy Plan means the Plan when it is described in the second sentence of
Section 13.2. 
 A Top Heavy Aggregation Group exists in any Plan Year for which, as of the Determination
Date, the sum of the Present Value of Accrued Benefits for Key Employees under all plans in the Aggregation Group exceeds 60% of the sum of the Present Value of Accrued

  

 47 







 
Benefits for all employees under all plans in the Aggregation Group. In determining the sum of the Present Value of Accrued Benefits for all employees, the Present Value of Accrued Benefits for
any Non-key Employee who was a Key Employee for any Plan Year preceding the Plan Year that contains the Determination Date will be excluded. 
 Top Heavy Plan means the Plan when it is described in the first sentence of Section 13.2. 
  

	13.2	Determination of Top Heavy Status 

 This Plan is a Top Heavy Plan in any Plan Year in which it is a member of a Top Heavy Aggregation Group, including a Top Heavy Aggregation Group that includes only the Plan. The Plan is a Super Top Heavy
Plan in any Plan Year in which it is a member of a Super Top Heavy Aggregation Group, including a Super Top Heavy Aggregation Group that includes only the Plan. 
  

	13.3	Minimum Benefit Requirement for Top Heavy Plan  

 13.3.1 Minimum Accrued Benefit: The minimum accrued benefit (expressed as an Individual Life Annuity commencing at
Normal Retirement Date) derived from Company contributions to be provided under this Section for each Non-key Employee who is a Participant for any Plan Year in which this Plan is a Top Heavy Plan shall equal the product of (a)  1/12th of “416 Compensation” averaged over 5
the consecutive Plan Years (or actual number of Plan Years if less) which produce the highest average and (b) the lesser of (i) 2% multiplied by Years of Vesting Service or (ii) 20%. 
 13.3.2 For purposes of providing the minimum benefit under Code Section 416, a Non-key Employee who is not a Participant solely because
(a) his compensation is below a stated amount or (b) he declined to make mandatory contributions to the Plan will be considered to be a Participant. 
 13.3.3 For purposes of this Section 13.3, Years of Vesting Service for any Plan Year during which the Plan was not a Top Heavy Plan shall be disregarded. 
 13.3.4 For purposes of this Section 13.3, 416 Compensation for any Plan Year subsequent to the last Plan Year during which the Plan is
a Top Heavy Plan shall be disregarded. 
 13.3.5 For the purposes of this Section 13.3, “416 Compensation” shall
mean W-2 wages for the calendar year ending with or within the Plan Year, and shall be limited to $160,000 (as adjusted for cost-of-living in accordance with Section 401(a)(17)(B) of the Code) in Top Heavy Plan Years. 
 13.3.6 If payment of the minimum accrued benefit commences at a date other than Normal Retirement Date, or if the form of benefit is other
than on Individual Life Annuity, the minimum accrued benefit shall be the actuarial equivalent of the minimum accrued benefit expressed as an Individual Life Annuity commencing at Normal Retirement Date pursuant to Exhibits E-l, E-2, E-3, and E-4.

  

 48 







 13.3.7 To the extent required to be nonforfeitable under Section 13.4, the minimum
accrued benefit under this Section 13.3 may not be forfeited under Code Section 411(a)(3)(B) or Code Section 411(a)(3)(D). 
  

	13.4	Vesting Requirement for Top Heavy Plan 

 13.4.1 Notwithstanding any other provision of this Plan, for any Top Heavy Plan Year, the vested portion of any Participant’s accrued benefit shall be determined on the basis of the
Participant’s number of Years of Vesting Service according to the following schedule: 
  

			
	 Years of Service
	  	 Percentage Vested

		
	 1 - 2
	  	0%
		
	 3
	  	100%

 If in any subsequent Plan Year, the Plan ceases to be a Top Heavy Plan, the Company
may, in its sole discretion, elect to continue to apply this vesting schedule in determining the vested portion of any Participant’s accrued benefit, or revert to the vesting schedule in effect before this Plan became a Top Heavy Plan. Any such
reversion shall be treated as a Plan amendment. 
 13.4.2 The computation of the nonforfeitable percentage of the
Participant’s interest in the Plan shall not be reduced as the result of any direct or indirect amendment to this Plan. In the event that this Plan is amended to change or modify any vesting schedule, a Participant with at least 5 Years of
Service as of the expiration date of the election period may elect to have the Participant’s nonforfeitable percentage computed under the Plan without regard to such amendment. If a Participant fails to make such election, then such Participant
shall be subject to the new vesting schedule. The Participant’s election period shall commence on the adoption date of the amendment and shall end 60 days after the latest of 
  

	 	(a)	the adoption date of the amendment, 

  

	 	(b)	the effective date of the amendment, or 

  

	 	(c)	the date the Participant receives written notice of the amendment from the Company. 

  

 49 







 To record the adoption of the Plan to read as set forth herein, the
Company has caused its authorized member of the Committee to execute the same this 1st day of May, 2001, to be effective May 1, 2001, except as otherwise provided in the text herein. 
  

			
	FMC Technologies, Inc.
		
	By:	 	 /s/ William H. Schumann III

		
		 	Member, Employee Welfare Benefits
		 	Plan Committee


  

 50 







 EXHIBIT A 
 CREDITED SERVICE 
 Any service acquired as a participant under
any of the plans listed herein shall not be counted as Credited Service for purposes of this Plan. 
  

	 	1.	Frigoscandia Inc. Money Purchase Pension Plan 

  

	 	2.	Frigoscandia Inc. Retirement Plan: Pension Plan/401(k) Plan 

  

 51 







 EXHIBIT B 
 INACTIVE LOCATIONS 
 The following is a list of former
locations of FMC which have been sold or closed. As a result of the FTI Spinoff, the Plan retains the assets and liabilities with respect to certain Participants formerly employed by FMC at such locations: 
  

			
	 LOCATION
	  	 DATE SOLD/CLOSED

		
	Invalco	  	February 26, 1999
	Houston Fluid Control	  	January 1, 1984

  

 52 







 EXHIBIT C 
 MERGED PLANS 
 The following is a list of other plans which
were merged into the FMC Plan on and after May 27, 1994, the assets of which are retained by this Plan as a result of the FTI Spinoff. 
  

					
	 PLAN NAME
	  	EFFECTIVE
DATE OF
MERGER	  	SUPPLEMENT
NUMBER
	 Pneumo Abex Corporation Retirement Income Plan (Jetway Equipment Division)
	  	May 27, 1994	  	1
	 Retirement Plan for Employees of Stein
	  	June 1, 1997	  	2
	 Moorco International, Inc. Retirement Income Plan
	  	July 1, 1997	  	3
	 Smith Meter, Inc. Salaried Retirement Plan
	  	July 1, 1997	  	4

  

 53 







 SUPPLEMENT 1 
 JETWAY SYSTEMS DIVISION 
  

	1-1	Eligible Employees 

 The terms of this Supplement apply only to individuals who are current or former salaried and nonunion hourly employees of the FMC Technologies, Inc., Jetway Systems Division and who were participants in the Pneumo Abex Corporation
Retirement Income Plan (“Prior Plan”) before May 27, 1994 (the “Merger Date”) who had not received a full distribution of their benefit under such plan, or the FMC Plan, as of the Effective Date (“Participant”). On
the Merger Date the benefits of such participants were spun off from the Prior Plan and merged into the FMC Plan. 
  

	1-2	Calculation of Normal Retirement Benefit 

 A Participant’s monthly Normal Retirement Benefit shall be no less than the normal retirement benefit to which the Participant would have been entitled under the Prior Plan if the Participant had
terminated employment immediately prior to the Merger Date. 
  

	1-3	Early Retirement Date 

 Early Retirement Date means the earlier of: (a) a Participant’s Early Retirement Date under the Plan or (b) the date the Participant has a Severance from Service before Normal Retirement Date for a reason other
than death (i) if the Participant is at least age 55 and has at least 10 Years of Vesting Service, (ii) if the Participant was hired before age 35 and before January 1, 1989 and the sum of the Participant’s age and Years of
Vesting Service is at least 75, or (iii) if the Participant was entitled to an early retirement benefit under the Prior Plan. 
  

	1-4	Termination Benefit 

 If a Participant has a Severance from Service before Early or Normal Retirement Date for a reason other than death and had accrued at least 10 Years of Vesting Service, the Participant may begin to receive the Participant’s Plan
benefit, subject to the Plan’s reduction for early retirement, as early as the date the Participant reaches age 55. 
  

	1-5	Years of Vesting Service 

 A Participant is fully vested in the Participant’s benefit under the Plan. A Participant’s Employment Commencement Date will be the date the Participant was first employed by the Company or an Affiliate, or any earlier date from
which the Participant was granted vesting service under the FMC Plan, or the Prior Plan. In no event will a Participant be credited with fewer Years of Vesting Service under the Plan than the Participant would have been credited with under the
vesting rules of the Prior Plan. 
  

 54 








	1-6	Available Forms of Benefits 

 In addition to the optional forms of benefit described in the Plan, a Participant may elect to receive his benefit under the Prior Plan in the following form of benefit: 
 Life and 10 Year Certain Annuity: A Life and 10 Year Certain Annuity is an immediate annuity which is the Actuarial Equivalent
of an Individual Life Annuity, but which provides a smaller monthly annuity for the Participant’s life than an Individual Life Annuity. After the Participant’s death, if the monthly annuity has been paid for a period shorter than 10 years,
it will continue in the same amount as during the Participant’s life, for the remainder of the 10 year term certain. The Participant’s Joint Annuitant will receive any payments due after the Participant’s death. 
  

	1-7	Special Provisions for Participants in the Retirement Plan for Salaried Employees of Abex Corporation 

 In addition to the special provisions of the preceding sections, a Participant who participated in the Retirement Plan for Salaried Employees
of Abex Corporation before January 1, 1989 will be subject to the following provision with respect to the Participant’s Prior Plan benefit accrued before January 1, 1989: 
 Special Rule of 75 Benefit: Participants who were hired before age 35 and before January 1, 1989, and
who accrue total years of age and Vesting Service at Early Retirement equal to at least 75 will be entitled to a monthly benefit at their Early Retirement Date reduced by  1/3 of 1% for each month payments are made before the Participant
reaches age 65. 
  

 55 







 SUPPLEMENT 2 
 STEIN 
  

	2-1	Eligible Employees 

 The terms of this Supplement apply only to individuals who were participants in the Retirement Plan for Employees of Stein (the “Prior Plan”) prior to June 1, 1997 (the “Merger Date”) and who had not received a full
distribution of their benefit under such Prior Plan or the FMC Plan as of the Effective Date (“Participant”). 
  

	2-2	Calculation of Normal Retirement Benefit 

 A Participant’s Normal Retirement Benefit shall be no less than the normal retirement benefit to which the Participant would have been entitled under the Prior Plan if the Participant had permanently
terminated employment immediately prior to the Merger Date. 
  

	2-3	Years of Vesting Service 

 A Participant is fully vested in the Participant’s benefit under the Prior Plan. A Participant’s Employment Commencement Date will be the date the Participant was first employed by the Company or an Affiliate, or any earlier date
from which the Participant was granted vesting service under the FMC Plan or the Prior Plan. In no event will a Participant be credited with fewer Years of Vesting Service under the Plan than the Participant would have been credited with under the
vesting rules of the Prior Plan. 
  

	2-4	Available Forms of Benefits 

 In addition to the optional forms of benefit described in the Plan, a Participant may elect to receive the Participant’s benefit under the Prior Plan in the following form of benefit: 
 Life and 5 Year Certain Annuity: A Life and 10 Year Certain Annuity is an immediate annuity which is the Actuarial Equivalent
of an Individual Life Annuity, but which provides a smaller monthly annuity for the Participant’s life than an Individual Life Annuity. After the Participant’s death, if the monthly annuity has been paid for a period shorter than 60
months, it will continue, in the same amount as during the Participant’s life, for the remainder of the 60 month term certain. The Participant’s Joint Annuitant will receive any payments due after the Participant’s death. 

 

 56 







 SUPPLEMENT 3 
 MOORCO INTERNATIONAL INC. RETIREMENT INCOME PLAN 
  

	3-1	Eligible Employees 

 The terms of this Supplement apply only to individuals who were participants in the Moorco International Inc. Retirement Income Plan (the “Prior Plan”) prior to July 1, 1997 (the “Merger Date”) and who had not yet
received a full distribution of their benefit under such Prior Plan or the FMC Plan as of the Effective Date (“Participant”). 
  

	3-2	Calculation of Normal Retirement Benefit 

 A Participant’s Normal Retirement Benefit shall be no less than the normal retirement benefit to which the Participant would have been entitled if the Participant had terminated employment
immediately prior to the Merger Date. 
  

	3-3	Early Retirement Date  

 Early Retirement Date means the earlier of: (a) Early Retirement Date under the Plan; or (b) the date the Participant has a Severance from Service before Normal Retirement Date for a reason other than death, if the
Participant is at least age 55 and has at least 10 Years of Vesting Service or if the Participant was entitled to an early retirement benefit under the Geosource Inc. Retirement Income Plan. 
  

	3-4	Years of Vesting Service 

 A Participant is fully vested in the Participant’s benefits under the Prior Plan. A Participant’s Employment Commencement Date will be the date the Participant was first employed by the Company or an Affiliate, or any earlier date
from which the Participant was first granted vesting service under the FMC Plan or the Prior Plan. Each Participant will be credited with the number of full years of vesting service with which the Participant was credited under the Prior Plan plus
the greater of: (a) 6 months of Vesting Service; and (b) if the Participant accrued 1,000 hours of service under the Prior Plan during the period from January 1, 1997 through June 30, 1997, 1 Year of Vesting Service. In no event
will a Participant be credited with fewer Years of Vesting Service under the Plan than the Participant would have been credited with under the vesting rules of the Prior Plan. 
  

	3-5	Available Forms of Benefits  

 In addition to the optional forms of benefit described in the Plan, a Participant may elect to receive the Participant’s benefit under the Prior Plan in the following form: 
 Life and Term Certain Annuity: A Life and Term Certain Annuity is an immediate annuity which is the Actuarial Equivalent
(determined in accordance with Exhibit E-1) of an Individual Life Annuity, but which provides a smaller monthly annuity for the Participant’s life than an Individual Life Annuity. After the Participant’s death, if the monthly annuity has
been paid for a period shorter than the term certain chosen by the Participant, it will continue, in the same amount as during the Participant’s life, for the remainder of the term certain. The Participant’s Joint Annuitant will receive
any payments due after the Participant’s death. The Participant may choose a term certain of 60, 120, 180 or 240 months, so long as the term certain does not exceed the joint life expectancies of the Participant and the Joint Annuitant.

  

 57 








	3-6	Non-Spouse Death Benefit 

 If the Preretirement Survivor’s Benefit is not payable to the spouse of a deceased Participant, and if the Participant dies on or after the Participant’s Early Retirement Date, the Participant’s Beneficiary will be entitled
to a death benefit consisting of monthly payments made for a period of 60 months, beginning as of the first day of the month coincident with or next following the month in which the Participant dies. The amount of the monthly payment will be equal
to the monthly payment to which the Participant would have been entitled if the Participant had retired on the day before his death, and had elected to receive only the Participant’s Prior Plan benefit in the form of an immediate Life and Term
Certain Annuity with a term certain of 60 months. 
  

 58 







 SUPPLEMENT 4 
 SMITH METER, INC. SALARIED RETIREMENT PLAN 
  

	4-1	Eligible Employees 

 The terms of this Supplement apply only to individuals who were participants in the Smith Meter, Inc. Salaried Retirement Plan (“Prior Plan”) prior to July 1, 1997 (the “Merger Date”) and who had not yet received a
full distribution of their benefit under the FMC Plan or the Prior Plan as of the Effective Date (“Participant”). 
  

	4-2	Calculation of Normal Retirement Benefit 

 A Participant’s Normal Retirement Benefit shall be no less than the normal retirement benefit to which the Participant would have been entitled if the Participant had permanently terminated
employment with FMC and all of its Affiliates (as defined in the FMC Plan) on the Merger Date. 
  

	4-3	Early Retirement Date 

 Early Retirement Date means the earlier of: (a) the Participant’s Early Retirement Date under the Plan, or (b) the date the Participant has a Severance from Service before Normal Retirement Date for a reason
other than death (i) if the Participant is at least age 57 and has at least 10 Years of Vesting Service or (ii) if the Participant was entitled to an early retirement benefit under the Geosource Inc. Smith Meter Systems Division Salaried
Retirement Income Plan. 
  

	4-4	Normal Retirement Date 

 Normal Retirement Date means the earlier of: (a) the Participant’s Normal Retirement Date under the Plan, or (b) the date the Participant has a Severance from Service with at least 10 Years of Vesting Service at
or after age 62. 
  

	4-5	Years of Vesting Service 

 A Participant is fully vested in the Participant’s benefits under the Prior Plan. A Participant’s Employment Commencement Date will be the date the Participant was first employed by the Company or any Affiliate, or any earlier
date from which he was granted vesting service under the FMC Plan or the Prior Plan. Each Participant will be credited with the number of full years of vesting service with which the Participant was credited under the Prior Plan plus the greater of:
(a) 6 months of Vesting Service, or (b) if the Participant accrued 1,000 hours of service under the Prior Plan during the period from January 1, 1997 through June 30, 1997, 1 Year of Vesting Service. In no event will a
Participant be credited with fewer Years of Vesting Service under the Plan than the Participant would have been credited with under the vesting rules of the Prior Plan. 
  


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	4-6	Available Forms of Benefits 

 In addition to the optional forms of benefit described in the Plan, a Participant may elect to receive his Prior Plan benefit in the following form of benefit: 
 Life and Term Certain Annuity: A Life and Term Certain Annuity is an immediate annuity which is the Actuarial Equivalent
(determined in accordance with Exhibit E-1) of an Individual Life Annuity, but which provides a smaller monthly annuity for the Participant’s life than an Individual Life Annuity. After the Participant’s death, if the monthly annuity has
been paid for a period shorter than the term certain chosen by the Participant, it will continue, in the same amount as during the Participant’s life, for the remainder of the term certain. The Participant’s Joint Annuitant will receive
any payments due after the Participant’s death. The Participant may choose a term certain of 60, 120, 180 or 240 months, so long as the term certain does not exceed the joint life expectancies of the Participant and the Joint Annuitant.

  

	4-7	Payment to Active Participant After Normal Retirement Date 

 A Participant who continues to be employed by the Company or a Participating Employer after reaching Normal Retirement Date may begin receiving the Participant’s Prior Plan benefit at or after Normal
Retirement Date. 
  

	4-8	Non-Spouse Death Benefit 

 If the Preretirement Survivor’s Benefit is not payable to the spouse of a deceased Participant, and if the Participant dies on or after the Participant’s Early Retirement Date, the Participant’s Beneficiary will be entitled
to a death benefit consisting of monthly payments made for a period of 60 months, beginning as of the first day of the month coincident with or next following the month in which the Participant dies. The amount of the monthly payment will be equal
to the monthly payment to which the Participant would have been entitled if he had retired on the day before his death, and had elected to receive only his Prior Plan benefit in the form of an immediate Life and Term Certain Annuity with a term
certain of 60 months. 
  

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