<PAGE>
                                                                   EXHIBIT 10.4


                     MANAGEMENT PERFORMANCE SHARE AGREEMENT

         MetLife, Inc. confirms that, on [GRANT DATE] (the "Grant Date"), it
granted you, [NAME], [NUMBER] Performance Shares (your "Performance Shares").
Your Performance Shares are subject to the terms and conditions of this
Management Performance Share Agreement (this "Agreement") and the MetLife, Inc.
2005 Stock and Incentive Compensation Plan (the "Plan").

         1.  STANDARD PERFORMANCE TERMS.

         (a) The Performance Period for your Performance Shares will begin on
[DATE], [YEAR] and end on the December 31 immediately preceding the third
anniversary of the beginning of the Performance Period.

         (b) Except in so far as Sections 2 (Change of Status) or 3 (Change of
Control) apply to your Performance Shares, after the conclusion of the
Performance Period, the Committee shall certify in writing the number of
Performance Shares payable in accordance with Section 1(c) (your "Final
Performance Shares"), and your Final Performance Shares will be due and payable
in Shares.

         (c) The Committee will determine your Final Performance Shares by
multiplying your Performance Shares by the "Performance Factor." The Performance
Factor means a percentage (from zero to 200%) which is the sum of two other
percentages (each from zero to 100%), described in (1) and (2) below.

                  (1) The first percentage will be based on the Company's
         performance with respect to Change in Annual Net Operating Earnings Per
         Share during the Performance Period relative to the other companies in
         the Standard and Poor's Insurance Index, determined according to Table
         1 of Schedule A to this Agreement. For this purpose, (a) "Net Operating
         Earnings Per Share" for any period means income, net of all taxes on
         income, less realized investment gains or losses, less any dividends
         paid on preferred shares, and excluding any cumulative charges or
         benefits due to changes in accounting principles, divided by the
         weighted average number of shares outstanding during such period
         determined on a diluted basis under Generally Accepted Accounting
         Principles; and (b) "Change in Annual Net Operating Earnings Per Share"
         means Net Operating Earnings Per Share in the final calendar year of
         the Performance Period divided by Net Operating Earnings Per Share in
         the calendar year immediately preceding the beginning of the
         Performance Period.

                  (2) The second percentage will be based on the Company's
         performance with respect to Proportionate Total Shareholder Return
         during the Performance Period relative to the other companies in the
         Standard and Poor's Insurance Index, determined according to Table 2 of
         Schedule A to this Agreement. For this purpose, (a) "Initial Closing
         Price" means the average Closing Price (and, in the case of a company
         other than the Company, the most closely analogous price) in the twenty
         (20) trading days prior to the first day of the Performance Period; (b)
         "Final Closing Price" means the average Closing Price (and, the case of
         a company other than the Company, the most closely analogous price) in
         the twenty (20) trading days prior to and including the final day of
         the Performance Period; (c) "Total Shareholder Return" means the change
         (plus or minus) from the Initial Closing Price to the Final Closing
         Price, plus dividends (if any) actually paid on Shares (or, in the case
         of a company other than the Company, the most closely analogous
         security) on a reinvested basis from the first day of the
<PAGE>
         Performance Period to and including the last day of the Performance
         Period; and (d) "Proportionate Total Shareholder Return" means Total
         Shareholder Return divided by Initial Closing Price.

         (d) For these purposes, the Standard & Poor's Insurance Index means
each company which is described by either of the following criteria:

                  (1) the company is included in such index for the entirety of
         the Performance Period; or

                  (2) the company is included in such index on the final day of
         the Performance Period, and at least fifty percent (50%) of the
         securities entitled to vote for the directors of that company were
         owned, directly or indirectly, immediately after and as the result of a
         merger, acquisition, or other similar corporate transaction, by a
         majority of the shareholders (determined immediately prior to such
         transaction) of a company that was either: (i) included in such index
         on the first day of the Performance Period, or (ii) described by this
         Section 1(d)(2).

         (e) The terms of this Section 1 shall be referred to as the "Standard
Performance Terms."

         2. CHANGE OF STATUS. For purposes of this Section 2, your transfer
between the Company and an Affiliate, or among Affiliates, will not be a
termination of employment. In the event of a Change of Control, any applicable
terms of Section 3 (Change of Control) will supersede the terms of this Section
2.

         (a) Long-Term Disability. In the event you qualify for long-term
disability benefits under a plan or arrangement offered by the Company or an
Affiliate for its Employees, the Standard Performance Terms will continue to
apply to your Performance Shares. Once this provision applies, no other change
of status described in this Section 2 (except the provision regarding
termination for Cause) will affect your Performance Shares, even if you
subsequently return to active service or your employment with the Company or an
Affiliate terminates other than for Cause.

         (b) Death. In the event that your employment with the Company or an
Affiliate terminates due to your death, your Performance Shares will be due and
payable in the form of cash at a value equal to the Closing Price on the date of
your death.

         (c) Retirement. If your employment with the Company or an Affiliate
terminates (other than for Cause) on after your early retirement date or normal
retirement date (in each case determined under any ERISA qualified pension plan
offered by the Company or an Affiliate in which you participate) ("Retirement"),
the Standard Performance Terms will continue to apply to your Performance
Shares.

         (d) Bridge Eligibility. If your employment with the Company or an
Affiliate terminates (other than for Cause) with bridge eligibility for
retirement-related medical benefits (determined under an ERISA qualified benefit
plan offered by the Company or an Affiliate in which you participate, if any)
("Bridge Eligibility"), and your separation agreement (offered to you under the
severance program offered by the Company or an Affiliate to its Employees)
becomes final, the Standard Performance Terms will continue to apply to your
Performance Shares.

         (e) Termination for Cause. In the event that your employment with the
Company or an Affiliate terminates for Cause, your Performance Shares will be
forfeited immediately.


                                       2
<PAGE>
         (f) Other Termination of Employment. Unless the Committee determines
otherwise, if no other provision in this Section 2 regarding change of status
applies, including, for example, your voluntary termination of employment, your
termination without Retirement or Bridge Eligibility, or your termination by the
Company or an Affiliate without Cause, your Performance Shares will be forfeited
immediately. To the extent you are offered a separation agreement by the Company
or an Affiliate, the value of your forfeited Performance Shares may, in the
discretion of the Company or Affiliate, be considered in determining the terms
of that offer.

         3. CHANGE OF CONTROL.

         (a) Except as provided in Section 3(b), and unless otherwise prohibited
under law or by applicable rules of a national security exchange, if a Change of
Control occurs, your Performance Shares will be due and payable in the form of
cash equal to the number of your Performance Shares multiplied by the Change of
Control Price, and such sum shall be paid to you within thirty (30) day of the
Change of Control.

         (b) The terms of Section 3(a) will not apply to your Performance Shares
if the Committee reasonably determines in good faith, prior to the Change of
Control, that you have been granted an Alternative Award for your Performance
Shares pursuant to Section 15.2 of the Plan.

         4. NONTRANSFERABILITY OF AWARDS. Except as provided in Section 5 or as
otherwise permitted by the Committee, you may not sell, transfer, pledge, assign
or otherwise alienate or hypothecate any of your Performance Shares, and all
rights with respect to your Performance Shares are exercisable during your
lifetime only by you.

         5. BENEFICIARY DESIGNATION. You may name any beneficiary or
beneficiaries (who may be named contingently or successively) who may then
exercise any right under this Agreement in the event of your death. Each
beneficiary designation for such purpose will revoke all such prior
designations. Beneficiary designations must be properly completed on a form
prescribed by the Committee and must be filed with the Company during your
lifetime. If you have not designated a beneficiary, your rights under this
Agreement will pass to and may be exercised by your estate.

         6. TAX WITHHOLDING. The Company will withhold from payment made under
this Agreement an amount sufficient to satisfy the minimum statutory Federal,
state, and local tax withholding requirements relating to payment on account of
your Performance Shares.

         7. ADJUSTMENTS. The Committee may, in its discretion, make adjustments
in the terms and conditions of your Performance Shares in recognition of unusual
or nonrecurring events affecting the Company or its financial statements, or in
recognition of changes to applicable laws, regulations, or accounting
principles, whenever the Committee determines that such adjustments are
appropriate to prevent unintended dilution or enlargement of the potential
benefits of your Performance Shares. The Committee's determination in this
regard will be conclusive.

         8. TIMING OF PAYMENT. The Company will make payment to you as
reasonably practicable after such payment becomes payable under this Agreement,
unless you have earlier deferred such payment in accordance with arrangements
offered to you for that purpose. If Shares are to be paid to you, you will
receive evidence of ownership of those Shares.


                                       3
<PAGE>
         9. CLOSING PRICE. For purpose of this Agreement, "Closing Price" will
mean the closing price of a Share as reported in the principal consolidated
transaction reporting system for the New York Stock Exchange (or on such other
recognized quotation system on which the trading prices of the Shares are quoted
at the relevant time), or in the event that there are no Share transactions
reported on such tape or other system on the applicable date, the closing price
on the immediately preceding date on which Share transactions were reported.
Closing Price shall constitute "Fair Market Value" under the Plan for all
purposes related to your Performance Shares.

         10. NO GUARANTEE OF EMPLOYMENT. This Agreement is not a contract of
employment and it is not a guarantee of employment for life or any period of
time. Nothing in this Agreement interferes with or limits in any way the right
of the Company or an Affiliates to terminate your employment at any time. This
Agreement does not give you any right to continue in the employ of the Company
or an Affiliate.

         11. GOVERNING LAW; CHOICE OF FORUM. This Agreement will be construed in
accordance with and governed by the laws of the State of Delaware, regardless of
the law that might be applied under principles of conflict of laws. Any action
to enforce this Agreement or any action otherwise regarding this Agreement must
be brought in a court in the State of New York, to which jurisdiction the
Company and you consent.

         12. MISCELLANEOUS. For purposes of this Agreement, "Committee" includes
any direct or indirect delegate of the Committee as defined in the Plan and the
word "Section" refers to a Section in this Agreement. Any other capitalized word
used in this Agreement and not defined in this Agreement, including each form of
that word, is defined in the Plan. Any determination or interpretation by the
Committee pursuant to this Agreement will be final and conclusive. In the event
of a conflict between any term of this Agreement and the terms of the Plan, the
terms of the Plan control. This Agreement and the Plan represent the entire
agreement between you and the Company, and you and all Affiliates, regarding
your Performance Shares. No promises, terms, or agreements of any kind regarding
your Performance Shares that are not set forth, or referred to, in this
Agreement or in the Plan are part of this Agreement. In the event any provision
of this Agreement is held illegal or invalid, the rest of this Agreement will
remain enforceable. If you are an Employee of an Affiliate, your Performance
Shares are being provided to you by the Company on behalf of that Affiliate, and
the value of your Performance Shares will be considered a compensation
obligation of that Affiliate. Your Performance Shares are not Shares and do not
give you the rights of a holder of Shares. You will not be credited with
additional Performance Shares on account of any dividend paid on Shares. The
issuance of Shares or payment of cash pursuant to your Performance Shares is
subject to all applicable laws, rules and regulations, and to any approvals by
any governmental agencies or national securities exchanges as may be required.
No Shares will be issued or no cash will be paid if that issuance or payment
would result in a violation of applicable law, including the federal securities
laws and any applicable state or foreign securities laws.

         13. AMENDMENTS. The Committee has the exclusive right to amend this
Agreement as long as the amendment does not adversely affect any of your
previously-granted Awards in any material way (without your written consent) and
is otherwise consistent with the Plan. The Company will give written notice to
you (or, in the event of your death, to your beneficiary or estate) of any
amendment as promptly as practicable after its adoption.


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<PAGE>
         14. AGREEMENT TO PROTECT CORPORATE PROPERTY. The grant of your
Performance Shares is subject to your execution of the Agreement to Protect
Corporate Property provided to you with this Agreement ("Property Agreement").
If you do not return a signed copy of the Property Agreement, this Agreement and
the Performance Shares granted to you will be void. The Company may in its sole
discretion allow an extension of time for you to return your signed Property
Agreement.

         IN WITNESS WHEREOF, the Company has caused its duly authorized officer
to execute this Agreement, and you have executed this Agreement.

METLIFE, INC.                                        EMPLOYEE

By:  Robert H. Benmosche                             [NAME]
     -------------------                             ------
     Name

     Chairman of the Board and CEO
     -----------------------------
     Title



     ---------------------------------               --------------------------
     Signature                                       Signature

                                                     Date:
                                                          ---------------------


                                       5
<PAGE>
                                   SCHEDULE A
                    TO MANAGEMENT PERFORMANCE SHARE AGREEMENT

<TABLE>
<CAPTION>
                                TABLE 1                                                           TABLE 2
                                -------                                                           -------

     Change in Annual Net               First Percentage For            Proportionate Total               Second Percentage For
     Operating Income Company           Purposes of Determining         Shareholder Return Company        Purposes of Determining
     Performance (Percentile            Performance Factor*             Performance (Percentile           Performance Factor*
     Relative to Other Companies                                        Relative to Other Companies
     in S&P Ins. Index)                                                 in S&P Ins. Index)
<S>                                     <C>                             <C>                               <C>
                   0-24                               0                               0-24                                0
                    25                                25                               25                                 25
                    26                                26                               26                                 26
                    27                                27                               27                                 27
                    28                                28                               28                                 28
                    29                                29                               29                                 29
                    30                                30                               30                                 30
                    31                                31                               31                                 31
                    32                                32                               32                                 32
                    33                                33                               33                                 33
                    34                                34                               34                                 34
                    35                                35                               35                                 35
                    36                                36                               36                                 36
                    37                                37                               37                                 37
                    38                                38                               38                                 38
                    39                                39                               39                                 39
                    40                                40                               40                                 40
                    41                                41                               41                                 41
                    42                                42                               42                                 42
                    43                                43                               43                                 43
                    44                                44                               44                                 44
                    45                                45                               45                                 45
                    46                                46                               46                                 46
                    47                                47                               47                                 47
                    48                                48                               48                                 48
                    49                                49                               49                                 49
                    50                                50                               50                                 50
                    51                                52                               51                                 52
                    52                                54                               52                                 54
                    53                                56                               53                                 56
                    54                                58                               54                                 58
                    55                                60                               55                                 60
                    56                                62                               56                                 62
                    57                                64                               57                                 64
                    58                                66                               58                                 66
                    59                                68                               59                                 68
                    60                                70                               60                                 70
                    61                                72                               61                                 72
                    62                                74                               62                                 74
                    63                                76                               63                                 76
                    64                                78                               64                                 78
                    65                                80                               65                                 80
                    66                                82                               66                                 82
                    67                                84                               67                                 84
                    68                                86                               68                                 86
                    69                                88                               69                                 88
                    70                                90                               70                                 90
                    71                                92                               71                                 92
                    72                                94                               72                                 94
                    73                                96                               73                                 96
                    74                                98                               74                                 98
                   75-99                             100                              75-99                              100
</TABLE>

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* First percentage and second percentage are added together and the total is
multiplied by the number of Performance Shares granted to determine the number
of Final Performance Shares. See Section 1(c) of this Agreement.