Document:

Verizon Wireless Retirement Plan

 Exhibit 10.22 
 VERIZON WIRELESS RETIREMENT PLAN 
 As Amended and Restated Effective January 1, 2001 
 With Amendments Through the Adoption Date of this Amendment and Restatement, 
 including provisions intended to comply with 
 the Uruguay Round Agreements Act (GATT), 
 the Uniformed Services Employment and Reemployment Act of 1994 (USERRA), 
 the Small Business Job Protection Act of 1996 (SBJPA), the Taxpayer Relief Act of 1997 
 (TRA’97) and the
Community Renewal Tax Relief Act of 2000 (CRTRA) 

 TABLE OF CONTENTS 
 VERIZON WIRELESS RETIREMENT PLAN 
  

									
	 Article
	 	  	 	 Subject Matter
	  	Page
	ARTICLE I	 	 STATEMENT OF HISTORY AND PURPOSE
	  	1
		 	Section 1.01	 		 	 History and Rights Affected
	  	1
		 	Section 1.02	 		 	 Qualification Under the Internal Revenue Code
	  	1
		 	Section 1.03	 		 	 Documents
	  	1
	ARTICLE II	 	 DEFINITIONS
	  	2
	ARTICLE III	 	 ELIGIBILITY FOR PARTICIPATION
	  	16
		 	Section 3.01	 		 	 Transition Benefit Participation
	  	16
		 	Section 3.02	 		 	 UCN Annuity Pension Benefit
	  	16
	ARTICLE IV	 	 CREDITING OF SERVICE
	  	17
		 	Section 4.01	 		 	 Crediting of Service for Transition Benefit Credits
	  	17
		 	Section 4.02	 		 	 Crediting of Service for UCN Annuity Pension Benefit
	  	18
		 	Section 4.03	 		 	 Treatment of Years of Vesting Service Upon Reemployment for Amounts Credited to Transition Benefit Accounts
	  	19
		 	Section 4.04	 		 	 Treatment of Service Upon Reemployment for UCN Annuity Pension Benefit Purposes
	  	19
		 	Section 4.05	 		 	 Special Rules
	  	20
	ARTICLE V	 	 UCN ANNUITY PENSION BENEFIT FORMULA
	  	21
		 	Section 5.01	 		 	 Calculation of UCN Annuity Pension Benefit
	  	21
		 	Section 5.02	 		 	 UCN Annuity Pension Benefit
	  	21
		 	Section 5.03	 		 	 UCN Annuity Pension Benefit Transfer Policy
	  	21
		 	Section 5.04	 		 	 UCN Annuity Pension Benefit Freeze
	  	22
		 	Section 5.05	 		 	 20% UCN Annuity Pension Benefit Increase
	  	23
	ARTICLE VI	 	 TRANSITION BENEFIT ACCOUNTS AND CREDITS
	  	24
		 	Section 6.01	 		 	 Establishment of Transition Benefit Account
	  	24
		 	Section 6.02	 		 	 Allocations to Transition Benefit Account
	  	24
		 	Section 6.03	 		 	 Transition Benefit Credits
	  	24
		 	Section 6.04	 		 	 Interest Credits
	  	24
		 	Section 6.05	 		 	 Termination of Transition Benefit Account
	  	25

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	 	 	 	 	 	 	  	Page
	ARTICLE VII	 	 ACCRUED BENEFIT
	  	26
		 	Section 7.01	 		 	 Accrued Benefit
	  	26
		 	Section 7.02	 		 	 Maximum Benefit Limitations
	  	26
	ARTICLE VIII	 	 RETIREMENT BENEFITS
	  	28
		 	Section 8.01	 		 	 Normal Retirement Benefits
	  	28
		 	Section 8.02	 		 	 Postponed Retirement Benefits
	  	28
		 	Section 8.03	 		 	 UCN Early and Disability Retirement Pension Benefits
	  	28
		 	Section 8.04	 		 	 Deferred Vested Benefit
	  	30
		 	Section 8.05	 		 	 Failure to Elect Payment by Normal Retirement Age
	  	31
		 	Section 8.06	 		 	 Normal Retirement Benefit
	  	31
		 	Section 8.07	 		 	 Benefits Not Affected by Subsequent Social Security Changes
	  	31
	ARTICLE IX	 	 DEATH BENEFITS
	  	32
		 	Section 9.01	 		 	 Death after Benefit Payment Date
	  	32
		 	Section 9.02	 		 	 Death Prior to Benefit Payment Date
	  	32
		 	Section 9.03	 		 	 Small Cash Balance Death Benefits
	  	33
		 	Section 9.04	 		 	 Minimum Distribution Requirements
	  	33
		 	Section 9.05	 		 	 Sickness Death Benefit
	  	33
	ARTICLE X	 	 METHOD AND TIMING OF RETIREMENT BENEFIT DISTRIBUTION
	  	35
		 	Section 10.01	 		 	 Cash-Outs
	  	35
		 	Section 10.02	 		 	 Benefits Not Described in Section 10.01
	  	35
		 	Section 10.03	 		 	 Optional Forms of Benefit Distribution
	  	37
		 	Section 10.04	 		 	 Minimum Distribution Requirements
	  	38
		 	Section 10.05	 		 	 Required Payment Date
	  	38
		 	Section 10.06	 		 	 Accruals While Benefits Are In Pay Status
	  	38
		 	Section 10.07	 		 	 Distributed Contracts
	  	39
		 	Section 10.08	 		 	 Application for Benefits
	  	39
		 	Section 10.09	 		 	 Direct Rollovers
	  	39
		 	Section 10.10	 		 	 Non-Duplication of Benefits
	  	40
		 	Section 10.11	 		 	 Beneficiary Designation Right
	  	40

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	 	 	 	 	 	 	  	Page
		 	Section 10.12	 		 	 Form and Content of Spouse’s Consent
	  	41
		 	Section 10.13	 		 	 Suspension of Benefit Rules
	  	41
	ARTICLE XI	 	 PROVISIONS RELATING TO TOP-HEAVY PLANS
	  	43
		 	Section 11.01	 		 	 Definitions
	  	43
		 	Section 11.02	 		 	 Determination of Top-Heavy Status
	  	45
		 	Section 11.03	 		 	 Top-Heavy Plan Minima
	  	45
		 	Section 11.04	 		 	 No Suspension of Benefits
	  	46
		 	Section 11.05	 		 	 Multiple Employer Plan
	  	47
	ARTICLE XII	 	 CONTRIBUTIONS
	  	48
		 	Section 12.01	 		 	 Employer Contributions
	  	48
		 	Section 12.02	 		 	 Participant Contributions
	  	48
		 	Section 12.03	 		 	 Expenses of Administration
	  	48
		 	Section 12.04	 		 	 Contracts
	  	48
		 	Section 12.05	 		 	 Discontinuance
	  	48
		 	Section 12.06	 		 	 Sole Source of Benefits
	  	49
		 	Section 12.07	 		 	 Commingling of Assets
	  	49
	ARTICLE XIII	 	 EMPLOYEE BENEFITS COMMITTEE
	  	50
		 	Section 13.01	 		 	 Appointment and Tenure
	  	50
		 	Section 13.02	 		 	 Meetings; Majority Rule
	  	50
		 	Section 13.03	 		 	 Delegation
	  	50
		 	Section 13.04	 		 	 Authority and Responsibility of the Employee Benefits Committee
	  	50
		 	Section 13.05	 		 	 Reporting and Disclosure
	  	53
		 	Section 13.06	 		 	 Construction of the Plan
	  	53
		 	Section 13.07	 		 	 Compensation of the Employee Benefits Committee
	  	53
		 	Section 13.08	 		 	 Domestic Relations Orders
	  	53
	ARTICLE XIV	 	 ALLOCATION AND DELEGATION OF AUTHORITY
	  	56
		 	Section 14.01	 		 	 Authority and Responsibilities of the Employee Benefits Committee
	  	56
		 	Section 14.02	 		 	 Authority and Responsibilities of a Trustee
	  	56
		 	Section 14.03	 		 	 Authority and Responsibilities of the Company
	  	56

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

									
	 	 	 	 	 	 	 	  	Page
		 	Section 14.04	 		 	 Limitations on Obligations of Named Fiduciaries
	  	57
		 	Section 14.05	 		 	 Designation and Delegation
	  	57
		 	Section 14.06	 		 	 Reports to Board
	  	57
		 	Section 14.07	 		 	 Engagement of Assistants and Advisers
	  	57
		 	Section 14.08	 		 	 Payment of Expenses
	  	57
		 	Section 14.09	 		 	 Bonding
	  	58
		 	Section 14.10	 		 	 Indemnification
	  	58
	ARTICLE XV	 	 BENEFIT APPLICATIONS AND CLAIMS PROCEDURES
	  	59
		 	Section 15.01	 		 	 Application for Benefits
	  	59
		 	Section 15.02	 		 	 Appeals of Denied Claims for Benefits
	  	59
	ARTICLE XVI	 	 AMENDMENT OF PLAN
	  	61
		 	Section 16.01	 		 	 Amendment
	  	61
		 	Section 16.02	 		 	 Amendments to the Vesting Schedule
	  	61
		 	Section 16.03	 		 	 Reversion
	  	62
		 	Section 16.04	 		 	 Mergers and Consolidations of Plans
	  	62
	ARTICLE XVII	 	 TERMINATION OF PLAN
	  	64
		 	Section 17.01	 		 	 Right to Terminate
	  	64
		 	Section 17.02	 		 	 Procedure for Complete Termination
	  	64
		 	Section 17.03	 		 	 Continuance of Trust
	  	65
		 	Section 17.04	 		 	 Nontransferability of Contracts
	  	66
		 	Section 17.05	 		 	 Limitation on Benefits
	  	66
		 	Section 17.06	 		 	 Recapture of Payments
	  	67
	ARTICLE XVIII	 	 MISCELLANEOUS PROVISIONS
	  	69
		 	Section 18.01	 		 	 Nonalienation of Benefits
	  	69
		 	Section 18.02	 		 	 No Contract of Employment
	  	69
		 	Section 18.03	 		 	 Severability of Provisions
	  	69
		 	Section 18.04	 		 	 Heirs, Assigns and Personal Representatives
	  	69
		 	Section 18.05	 		 	 Headings and Captions
	  	70
		 	Section 18.06	 		 	 Gender and Number
	  	70
		 	Section 18.07	 		 	 Controlling Law
	  	70

  

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 TABLE OF CONTENTS 
 (continued) 
  

											
	 	 	 	 	 	 	 	 	 	  	Page
		 	Section 18.08	 		 		 	 Title to Assets; Source of Benefits
	  	70
		 	Section 18.09	 		 		 	 Payments to Minors, Etc
	  	70
		 	Section 18.10	 		 		 	 Reliance on Data and Consents
	  	70
		 	Section 18.11	 		 		 	 Lost Payees
	  	71
		 	Section 18.12	 		 		 	 Notices
	  	71
		 	Section 18.13	 		 		 	 Counterparts
	  	71
		 	Section 18.14	 		 		 	 Acceptance by Other Employers
	  	71
		 	Section 18.15	 		 		 	 Mistaken Payments
	  	71
	APPENDIX A	 		 	 ACTUARIAL ASSUMPTIONS AND FACTORS
	  	73
	APPENDIX B	 		 	 PARTICIPATING EMPLOYERS
	  	75
	APPENDIX C	 		 	 FORMER EMPLOYEES OF AIRTOUCH COMMUNICATIONS, INC. AND CERTAIN ACTIVE EMPLOYEES OF VODAFONE AMERICAS ASIA INC., FORMERLY,
AIRTOUCH COMMUNICATIONS INC.
	  	76

  

 -v- 

 ARTICLE I  
 STATEMENT OF HISTORY AND PURPOSE 
 Section 1.01 History and Rights Affected. The Verizon
Wireless Retirement Plan (the “Plan”), previously known as the Upstate Cellular Network Pension Plan, was originally established effective January 1, 1994 by Upstate Cellular Network, a New York partnership between Rochester Telephone
Corporation and New York Cellular Geographic Services Area, Inc. The Plan was frozen as of December 31, 1996. As of December 1, 1999, Upstate Cellular Network was acquired by Cellco Partnership (d/b/a Bell Atlantic Mobile). Effective
December 31, 2000, sponsorship of the Plan was transferred from Upstate Cellular Network to Cellco Partnership (d/b/a Verizon Wireless) (the “Company”). In connection with the addition of Vodafone Group (formerly Vodafone AirTouch
PLC) as a partner in the Company and its related contribution of various assets to the Company, effective as of the close of December 31, 2000, all of the assets and liabilities of the AirTouch Communications Employees Pension Plan (the
“AirTouch Plan”) were transferred to the Plan. The Plan has been amended and restated herein, effective as of January 1, 2001 (the “Effective Date”), to reflect (a) the change in Plan sponsorship, (b) the addition
of a transition benefit for eligible employees, and (c) the transfer of assets and liabilities from the AirTouch Plan. The Plan has also been amended and restated herein to comply with the requirements of the Uniformed Services Employment and
Reemployment Rights Act of 1994, the Uruguay Round Agreements Act, the Small Business Job Protection Act of 1996, the Taxpayer Relief Act of 1997 and the Community Renewal Tax Relief Act of 2000. Except where an earlier effective date is specified
herein, the provisions of this amended and restated Plan shall apply only to Employees who complete an Hour of Service on or after the Effective Date. The rights of an individual who had a Separation from Service prior to the Effective Date shall
otherwise be governed by the Prior Plan as in effect on the date of his Separation from Service. 
 Section 1.02 Qualification Under
the Internal Revenue Code. It is intended that the Plan be a qualified plan within the meaning of section 401(a) of the Code and that the trust or other Funding Vehicles associated with the Plan be exempt from federal income taxation pursuant to
the provisions of section 501(a) of the Code. 
 Section 1.03 Documents. The Plan consists of the Plan document as set forth
herein, and any amendment thereto. Certain provisions relating to the Plan and its operation are contained in the corresponding Trust Agreements (or documents establishing any other Funding Vehicle for the Plan), and any amendments, supplements,
appendices and riders to any of the foregoing. 

 ARTICLE II  
 DEFINITIONS 
 Section 2.01 “Accrued Benefit” shall mean as of a date of reference,
except as otherwise provided below, the balance on that date of the Participant’s Transition Benefit Account. 
 (a) UCN Plan
Participants. For a Participant who has a Transition Benefit Account and a UCN Annuity Pension Benefit under the Plan, the Participant’s Accrued Benefit under this Plan shall be administered in two parts, the first of which shall be the UCN
Annuity Pension Benefit, and the second of which shall be the benefit which the Participant accrues subsequent to December 31, 2000 pursuant to Article VI which shall be equal to the balance of the Participant’s Transition Benefit Account.

 (b) Transferred AirTouch Plan Participants. The Accrued Benefit of a Participant who has a Transition Benefit Account and an
AirTouch Annuity Pension Benefit under the Plan, shall be administered in two parts, the first of which shall be the AirTouch Annuity Pension Benefit and the second of which shall be the benefit which the Participant accrues subsequent to
December 31, 2000 pursuant to Article VI which shall be equal to the balance of the Participant’s Transition Benefit Account. 
 (c) Vodafone Retained AirTouch Plan Participants. The Accrued Benefit of a Participant who is not a Covered Employee under the Plan, but who has an AirTouch Annuity Pension Benefit under the Plan, shall be the AirTouch Annuity
Pension Benefit and accruals subsequent to December 31, 2000, if any, pursuant to Appendix C. 
 (d) Pre-2001 Vested Pension. For
a Participant who, on December 31, 2000, was a Vested Participant under the Plan or a terminated vested participant or a formerly active participant in the AirTouch Plan who had not received a total distribution of his or her pension benefit
from the AirTouch Plan, the Participant’s Accrued Benefit under the Plan on and after the Effective Date shall be either a UCN Annuity Pension Benefit or an AirTouch Annuity Pension Benefit (as applicable) determined, except to the extent
provided otherwise herein, under the terms of the Plan or the AirTouch Plan (as applicable) that were in effect on the date such individual ceased active participation in the Plan or the AirTouch Plan (as applicable) whether or not the individual is
later employed or re-employed by a Participating Employer. 
 Section 2.02 “Actuarial Equivalent” shall mean, except as
provided in any other provision of the Plan to the contrary, a benefit of equal actuarial value determined using the actuarial assumptions and factors set forth in Appendix A or C, as applicable. 
  

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 Section 2.03 “Affiliated Company” shall mean any entity which (a) with a
Participating Employer, constitutes (1) a “controlled group of corporations” within the meaning of section 414(b) of the Code, (2) a “group of trades or businesses under common control” within the meaning of section
414(c) of the Code, or (3) an “affiliated service group” within the meaning of section 414(m) of the Code, or (b) is required to be aggregated with a Participating Employer pursuant to regulations under section 414(o) of the
Code. Except as otherwise provided herein, an entity shall be considered an Affiliated Company only with respect to such period as the relationship described in the preceding sentence exists. 
 Section 2.04 “AirTouch Annuity Pension Benefit” shall mean a pension benefit transferred to the Plan from the AirTouch Plan as of the
close of December 31, 2000 and subsequent accruals, if any, pursuant to Appendix C expressed in an annuity in the normal form described in Section 10.02(a)(1). 
 Section 2.05 “AirTouch Plan” shall mean the AirTouch Communications Employees Pension Plan from which all of the assets and liabilities were transferred to the Plan as of the close of December 31,
2000. See Appendix C for special rules relating to the transferred assets and liabilities. 
 Section 2.06 “Alternate Payee”
shall mean the person entitled to receive payment of benefits under the Plan pursuant to a QDRO. 
 Section 2.07 “Beneficiary”
shall mean the person or persons (including a trust or trustee) designated by the Participant pursuant to Section 10.11 to receive death benefits payable upon the Participant’s death, other than death benefits specifically payable to the
Participant’s Spouse. 
 Section 2.08 “Benefit Payment Date” shall mean the date (prior to the Effective Date, the first
day of the month) as of which the first benefit payment (whether a single sum or an annuity installment payment) is made (or the date such payment is due, if such payment is delayed) to the Participant (or to the surviving Spouse if the
Participant’s death occurs prior to such date). 
 Section 2.09 “Board” shall mean the board of directors or other
governing body of the Company or a committee of such Board to which the Board has delegated some or all of its responsibilities hereunder. 
 Section 2.10 “Break in Service” shall mean that an Employee fails to complete more than 500 Hours of Service during an applicable computation period, or a Plan Year, whichever is applicable. 
 If an Employee is absent from work by reason of pregnancy, childbirth, or placement in connection with adoption, or for purposes of care of such Employee’s child
immediately 

  

 3 

 
after birth or placement in connection with adoption, such Employee shall be credited, solely for purposes of determining whether he has incurred a Break in
Service, with the Hours of Service with which such Employee would have been credited but for the absence; or, if such hours cannot be determined, with eight (8) Hours of Service per normal workday. 
 The total number of hours to be treated as Hours of Service under this paragraph shall not exceed 501. The hours described in this paragraph shall be credited either for
the computation period or Plan Year, as applicable, in which the absence from work begins, if the Employee would be prevented from incurring a Break in Service in such computation period or Plan Year because the period of absence is treated as Hours
of Service under this paragraph, or, in any case, for the computation period or Plan Year, as applicable, next following the one in which the absence from work begins; provided, however, that no credit shall be given under this paragraph with
respect to such absence to the extent that credit is given pursuant to Section 2.25. In order for an absence to be considered as on account of the reasons described in this paragraph, an Employee shall provide the Employee Benefits Committee
information establishing (a) that the absence from work is for reasons set forth in this paragraph, and (b) the number of days for which there was such an absence. Nothing in this paragraph shall be construed as expanding or amending any
maternity or paternity leave policy of a Participating Employer or Affiliated Company. 
 Section 2.11 “Code” shall mean the
Internal Revenue Code of 1986, as the same may be amended from time to time, and any successor statute of similar purpose. 
 Section 2.12 “Company” shall mean, effective as of December 31, 2000, the Partnership, unless specifically indicated otherwise herein; provided, however, that as of the IPO Date, “Company” shall mean Verizon
Wireless Inc., or such other Affiliated Company which serves as the public offering vehicle representing the business of the Partnership, and any successor thereto that adopts the Plan, acting in its capacity as general managing partner of the
Partnership. Prior to December 31, 2000, “Company” meant Upstate Cellular Network. 
 Section 2.13
“Compensation” shall mean, for any Employee, for any Plan Year or Limitation Year as the case may be: 
 (a) For purposes of
determining the Transition Benefit Credits for a given Plan Year pursuant to Article VI, except as otherwise provided below in this definition, the fixed and basic salary or wages, short term incentive payments and commissions paid by a
Participating Employer to the Employee during the applicable period, and including premium pay (such as overtime pay, shift differential pay and nightwatch pay), short term disability payments, and draw and guaranteed pay paid to Employees on a
commission basis, but excluding any amounts that the Employee receives during periods when he is not a Covered Employee, amounts identified as 

  

 4 

 
bonuses or incentive payments (other than the short term incentive payments specified above), fringe benefits (both cash and non-cash), moving expenses,
deferred compensation, welfare benefits (other than short-term disability payments), expense allowances, and reimbursements. Notwithstanding the above, Compensation shall be determined prior to giving effect to any salary reduction election made
pursuant to a Code section 401(k) or 125 plan maintained by a Participating Employer. 
 (b) For purposes of determining a Participant’s
frozen UCN Annuity Pension Benefit pursuant to Article V of the Plan, the total of an Employee’s salary or wages (prior to January 1, 1996, the total of an Employee’s base rate of pay, bonuses and commissions) paid by the Employer
during a Plan Year prior to January 1, 1997 for services actually rendered by the Employee to the Participating Employer. For any Employee participating in a Participating Employer’s 401(k) plan or cafeteria plans, the term Compensation
shall include amounts contributed to such plans on behalf of the Employee pursuant to a salary reduction agreement. Compensation does not include contributions to this Plan or any other plan of deferred compensation other than a 401(k) plan (prior
to January 1, 1996 nor does it include any types of extra remuneration of whatever nature (except the bonuses or commissions included in the first sentence above for such time period)). If an Employee had participated in a Partner Plan and
transferred directly from a Partner to the Participating Employer, “Compensation” includes compensation, similarly determined, paid by the Partner during a Plan Year prior to January 1, 1997. No Compensation paid after
December 31, 1996 shall be taken into account in determining a Participant’s frozen UCN Annuity Pension Benefit under the Plan. 
 (c) For purposes of Article XI and Section 7.02, wages required to be reported on IRS Form W-2, paid to the Employee during the applicable period as defined in Treas. Reg. § 1.415-2(d)(11)(i), including, on or after
January 1, 1998, any elective deferral (as defined in section 402(g)(3) of the Code) and any elective contribution or elective deferral that is excluded from gross income under section 125, 132(f)(4) or 457 of the Code. Notwithstanding the
foregoing, prior to the Effective Date with respect to a Participant’s UCN Annuity Pension Benefit, for purposes of Article XI and Section 7.02, “Compensation” meant the total remuneration paid to the Participant by the
Participating Employer during the Plan Year for personal services actually rendered, after the application of any salary reduction agreement the Participant may have entered into with the Participating Employer, exclusive of Employer contributions
to this Plan or any other plan of deferred compensation, amounts realized upon the exercise of a stock option or the lifting of restrictions on restricted stock, amounts realized upon a disqualifying disposition of stock acquired pursuant to an
incentive stock option or other qualified stock option or other qualified stock option or other amounts which receive special tax benefits provided in this Section. 
  

 5 

 (d) For purposes of the definition of “Highly Compensated Employee” for periods on or after
January 1, 1998, “compensation,” as such word is defined in section 415(c)(3) of the Code, paid to the Employee for the applicable period. 
 (e) Effective as of December 12, 1994, for purposes of this definition an Employee’s Compensation will include the Compensation that the Employee would have received during a period of Qualified Military
Service (or, if the amount of such Compensation is not reasonably certain, the Employee’s average earnings from the Company or an Affiliated Company for the twelve-month period immediately preceding the Employee’s period of Qualified
Military Service); provided, however, that the Employee returns to work within the period during which his right to reemployment is protected by law. 
 (f) With respect to any Plan Year, only the first $170,000 (or such other amount as may be applicable under section 401(a)(17) of the Code) of the amount otherwise described in subsections (a), (b) and
(c) of this definition shall be counted, except that this subsection (f) shall not apply for purposes of Section 7.02 and determining “Key Employees” under Article XI. In determining Compensation for purposes of this
limitation, the family aggregation rules of section 401(a)(17)(A) of the Code, as in effect on December 31, 1996, shall apply for Plan Years beginning before January 1, 1997. 
 Section 2.14 “Contract” shall mean any annuity, pension, retirement income, or insurance contract or policy providing for payment of
benefits under the Plan, and any deposit administration or other contract or policy providing for the management of the assets of the Plan by an insurance company. 
 Section 2.15 “Covered Employee” shall mean, except as provided otherwise in Appendix C for purposes of Appendix C, any individual who is employed by a Participating Employer, other than (i) any
person who continues to accrue a benefit under the GTE Service Corporation Plan for Employees’ Pensions, (ii) any person whose terms and conditions of employment are subject to a collective bargaining agreement, unless the collective
bargaining agreement provides for the eligibility of such person to participate in this Plan, (iii) any person who is a foreign national working in a foreign jurisdiction, (iv) an individual who renders services to a Participating Employer
or an Affiliated Company under circumstances in which his or her wages or remuneration is paid by a third party service provider or temporary service agency, regardless of any governmental or judicial determination or holding which characterizes the
individual as an employee of a Participating Employer or an Affiliated Company, including without limiting the foregoing, a leased employee as defined in section 414(n) of the Code, (v) an individual hired by a Participating Employer or an
Affiliated Company as an independent contractor, consultant, or otherwise as a person who is not an employee for purposes of withholding federal employment taxes, as evidenced by payroll records or a written agreement with the individual, regardless
of any contrary governmental or judicial 

  

 6 

 
determination or holding which characterizes the individual as an employee of a Participating Employer or an Affiliated Company or (vi) an individual
who is employed by Vodafone Americas Asia Inc. or any of its subsidiaries. 
 Section 2.16 “Early Retirement Date” shall mean
with respect to a Participant’s UCN Annuity Pension Benefit, the first day of the month next following the month in which the Participant retires prior to Normal Retirement Age pursuant to Section 8.03(a) or 8.03(b) and with respect to a
Participant’s AirTouch Annuity Pension Benefit as specified in Appendix C. 
 Section 2.17 “Effective Date” shall mean
January 1, 2001; provided, however, that when a provision of the Plan states an effective date other than January 1, 2001, such stated specific effective date shall apply as to that provision. Notwithstanding the foregoing, a provision of
the Plan stated herein with an effective date prior to January 1, 2001 shall only apply retroactively to Participants in the Plan on such effective date. 
 Section 2.18 “Employee” shall mean a person who is employed by a Participating Employer or an Affiliated Company. A person who is not otherwise employed by a Participating Employer or Affiliated Company
shall be deemed to be employed by any such company if he is a leased employee with respect to whose services such Participating Employer or Affiliated Company is the recipient, within the meaning of section 414(n) or 414(o) of the Code, but to whom
section 414(n)(5) of the Code does not apply. 
 Section 2.19 “Employee Benefits Committee” shall mean the committee appointed
pursuant to Section 13.01 to administer the Plan as specified herein. 
 Section 2.20 “Employment Commencement Date”
shall mean, with respect to any person, the first date on which that person performs an Hour of Service as described in Section 2.25(a). 
 Section 2.21 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as the same may be amended from time to time, and any successor statute of similar purpose. 
 Section 2.22 “Fund” shall mean all of the assets of the Plan at a given time including all assets held by one or more Trustees (or any
nominee thereof) under one or more Trust Agreements and all assets held under any other Funding Vehicles. 
 Section 2.23 “Funding
Vehicle” shall mean a Trust Agreement or Contract under which some or all of the assets of the Plan are held and invested. 
 Section 2.24 “Highly Compensated Employee” shall mean, effective for Plan Years beginning on or after January 1, 1997, an Employee who performs services for a 

  

 7 

 
Participating Employer or an Affiliated Company during the Plan Year for which a determination is being made and who: 
 (a) was at any time in the Plan Year or the immediately preceding Plan Year a five-percent (5%) owner, as defined in section 416(i) of the Code; or

 (b) for the immediately preceding Plan Year received annual Compensation from a Participating Employer or an Affiliated Company in excess
of $80,000, as adjusted by the Secretary of the Treasury in accordance with section 414(q) of the Code. 
 A former Employee shall be treated as a Highly
Compensated Employee if such Employee was a Highly Compensated Employee while an active Employee in either the Plan Year in which such Employee separated from service or in any Plan Year ending on or after his 55th birthday. 
 Section 2.25 “Hour of Service” shall mean for any Employee: 
 (a) An hour for which he is directly or indirectly compensated, or is entitled to be compensated by a Participating Employer or an Affiliated Company, for the performance of duties. 
 (b) An hour for which he is entitled, either by award or agreement, to back pay from a Participating Employer or an Affiliated Company, irrespective of
mitigation of damages. 
 (c) Each hour for which an Employee is paid, or entitled to payment, by a Participating Employer or an Affiliated
Company (either directly or indirectly through a trust fund or insurer) on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness,
incapacity (including long term disability), jury duty, military duty or leave of absence. 
 (d) Each hour that constitutes part of the
Employee’s customary work week during any period of absence in the armed forces of the United States, including, effective December 12, 1994, any period of Qualified Military Service, provided that (i) such absence is with the
approval of a Participating Employer or an Affiliated Company or pursuant to a national conscription law, (ii) the Employee receives an honorable discharge, and (iii) the Employee returns to employment with a Participating Employer or an
Affiliated Company within 90 days after his release from active service or any longer period during which his right to reemployment is protected by law. Notwithstanding anything in the Plan to the contrary, Hours of Service for periods of Qualified
Military Service shall be provided in accordance with section 414(u) of the Code. 
  

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 (e) Anything to the contrary in subsections (a) through (d) notwithstanding: 
 (1) For purposes of determining a Participant’s Year of Service with respect to his UCN Annuity Pension Benefit, in lieu of counting an
Employee’s actual number of Hours of Service during any computation period or Plan Year, as applicable, the Employee Benefits Committee shall credit each Employee who earns at least one Hour of Service during any week of employment with 45
Hours of Service for each such week. 
 (2) No Hours of Service shall be credited to an Employee for any period merely because, during such
period, payments are made or due him under a plan maintained solely for the purpose of complying with applicable workers’ compensation, unemployment compensation, or disability insurance laws. 
 (3) No Hours of Service shall be credited to an Employee with respect to payments solely to reimburse for medical or medically related expenses.

 (4) No more than 501 Hours of Service shall be credited to an Employee under subsection (c) of this definition on account of any
single continuous period during which no duties are performed by him, except as provided in subsection (d). 
 (5) No Hours of Service shall
be credited twice. 
 (6) Hours of Service shall be credited at least as liberally as required by the rules set forth in Department of Labor
Reg. §2530.200b-2(b) and (c). 
 (7) In the case of an Employee who is such solely by reason of service as a leased employee within the
meaning of section 414(n) or 414(o) of the Code, Hours of Service shall be credited as if such Employee were employed and paid with respect to such service (or with respect to any related absences or entitlements) by the Participating Employer or
Affiliated Company that is the recipient thereof. 
 (8) Except as specified otherwise herein, the number of Hours of Service to be credited
to an Employee on account of a period of service with an Affiliated Company shall only include such hours during the period that the employer for whom the services are performed is a Participating Employer or an Affiliated Company. 
 (9) Hours of Service shall be credited, without duplication, to the extent required by the Family and Medical Leave Act of 1993 and implementing federal
regulations. 
  

 9 

 (10) The Employee Benefits Committee shall determine the number of creditable Hours of Service in any
computation period or Plan Year, as applicable, on the basis of any records kept by the Participating Employer that accurately reflect Hours of Service. If any payments (including back pay awards) relate to any period for which no duties are
performed, the number of creditable Hours of Service shall equal the number of regularly scheduled working hours upon which the payment is based. If the payment is not calculated on the basis of units of time for which the hours may be determined,
the number of creditable Hours of Service shall be equal to the amount of the payment divided by the Employee’s most recent hourly rate of compensation before the period during which no duties are performed. In no event, however, shall an
Employee be credited with a greater number of Hours of Service than the number of regularly scheduled hours for the performance of services during the applicable period. 
 (11) Hours of Service shall be credited to the computation period or Plan Year, as applicable, in which the services were performed, the period to which the payments are made when no services are performed, or the
period to which back pay awards relate, whichever is applicable. 
 Section 2.26 “IPO Date” shall mean the date upon which the
initial public offering of the common stock of Verizon Wireless Inc., or such other Affiliated Company which serves as the public offering vehicle representing the business of the Partnership, occurs. 
 Section 2.27 “Interest Credits” shall mean the interest credited to each Participant’s Transition Benefit Account in accordance with
Section 6.04. 
 Section 2.28 “Investment Manager” shall mean any fiduciary (other than a Trustee or Named Fiduciary) who
has the power to manage, acquire, or dispose of any asset of the Plan and who has qualified as an “investment manager” within the meaning of section 3(38) of ERISA. 
 Section 2.29 “Limitation Year” shall mean the Plan Year. 
 Section 2.30 “Named Fiduciary” shall mean the Board or its delegate, the Employee Benefits Committee and the Trustee(s). Each Named Fiduciary shall have only those particular powers, duties,
responsibilities and obligations as are specifically delegated to him under the Plan or the Trust Agreement(s). Any fiduciary, if so appointed, may serve in more than one fiduciary capacity. 
 Section 2.31 “Normal Retirement Age” shall mean a Participant’s 65th birthday; provided, however, that with
respect to a Participant’s UCN Annuity Pension Benefit, “Normal Retirement Age” shall mean the later of the Participant’s 65th birthday or the fifth anniversary of the Participant’s commencement of participation in the Plan. 
  

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 Section 2.32 “Normal Retirement Date” shall mean the first day of the month coincident
with or next following a Participant’s attainment of Normal Retirement Age. 
 Section 2.33 “Participant” shall generally
mean any person who has been admitted to participation in this Plan pursuant to the provisions of Article III or Appendix C and who is: 
 (a) a Covered Employee currently eligible to accrue Transition Benefit Credits under Article VI of the Plan (an “Active Participant”); 
 (b) an Employee who previously was an Active Participant but currently is not because he is no longer employed in a “Covered Employee” status (an Inactive Participant”); 
 (c) an Employee who is a “Full Accrual Participant” or a “Modified Accrual Participant” (as such terms are defined in Appendix C)
currently eligible to accrue benefits pursuant to Appendix C of the Plan ( an “AirTouch Active Participant”); 
 (d) an individual
who previously was an AirTouch Active Participant but currently is not because he is no longer employed as an employee covered under Appendix C of the Plan (an “AirTouch Inactive Participant”); 
 (e) an Employee with a frozen accrued benefit under Article V of the Plan (a “UCN Frozen Participant”); 
 (f) a former Active Participant, former AirTouch Active Participant, Inactive Participant, AirTouch Inactive Participant, UCN Frozen Participant or
former Covered Employee who has a vested interest under the Plan that has not been distributed in full pursuant to Article X or otherwise (a “Vested Participant”). 
 Section 2.34 “Participating Employer” shall mean the Company and any other entity listed on Appendix B that adopts this Plan with the
consent of the Employee Benefits Committee or the Board or its delegate and the board of directors or other governing body of the entity adopting the Plan. A company shall be considered a Participating Employer only with respect to such period as
the company actively participates in the Plan. 
 Section 2.35 “Partner” shall mean for purposes of making determinations with
respect to a Participant’s UCN Annuity Pension Benefit, Rochester Telephone Corporation, New York Cellular Geographic Services Area, Inc. and any other entity that may hereafter become a partner in a Participating Employer. 
  

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 Section 2.36 “Partner Plan” shall mean for purposes of making determinations with respect
to a Participant’s UCN Annuity Pension Benefit, the Rochester Tel Management Pension Plan, Craft Pension Plan-I, Craft Pension Plan-II, NYNEX Management Pension Plan, NYNEX Pension Plan or any other tax-qualified defined benefit pension plan
maintained by one or more of the Partners. 
 Section 2.37 “Partnership” shall mean Cellco Partnership (d/b/a Verizon
Wireless), a Delaware general partnership, or any successor thereto; provided, however, that solely for purposes of this Plan, the term “Partnership” shall be deemed to refer to Verizon Wireless Inc. or such other Affiliated Company which
serves as the public offering vehicle representing the business of the Partnership, as of the effective date of the transfer of all or substantially all of the employees of the Partnership to Verizon Wireless Inc. or such other Affiliated Company or
one or more corporations, partnerships or limited liability companies wholly-owned by Verizon Wireless Inc. or such other Affiliated Company on or at some point after the IPO Date. 
 Section 2.38 “PBGC” shall mean the Pension Benefit Guaranty Corporation, a corporation within the United States Department of Labor
established under the provisions of Title IV of ERISA, or any successor thereto. 
 Section 2.39 “Period of Severance” shall
mean for purposes of vesting in a Participant’s Transition Benefit Credits, a 12-consecutive-month period beginning on an Employee’s Severance Date or any anniversary thereof and ending on the next succeeding anniversary of such Severance
Date during which the Employee is not credited with at least one Hour of Service. 
 In the case of an Employee who is absent from work for
“maternity or paternity” reasons, the 12-consecutive-month period beginning on the first anniversary of the first day of such absence shall not constitute a Period of Severance. For the purposes of this Section, an absence from work for
maternity or paternity reasons means an absence (a) by reason of the pregnancy of the Employee, (b) by reason of the birth of a child of the Employee, (c) by reason of the placement of a child with the Employee in connection with the
adoption of such child by such Employee, or (d) for purposes of caring for such child for a period beginning immediately following such birth or placement. In order for an absence to be considered for “maternity or paternity” reasons
under this Section, an Employee shall provide the Employee Benefits Committee information establishing (1) that the absence from work is for reasons set forth in the preceding sentence and (2) the number of days for which there was such an
absence. Nothing in this Section shall be construed as expanding or amending any maternity or paternity leave policy of the Employer. 
 Section 2.40 “Plan” shall mean the Verizon Wireless Retirement Plan (prior to the Effective Date, the Upstate Cellular Network Pension Plan) as set forth herein, and as the same may from time to time hereafter be amended.

  

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 Section 2.41 “Plan Year” shall mean the calendar year. 
 Section 2.42 “Postponed Retirement Date” shall mean the first day of the month coincident with or next following the date of a
Participant’s Separation from Service subsequent to his Normal Retirement Date. 
 Section 2.43 “Prior Pension Plan”
shall mean the AirTouch Communications Employees Pension Plan or the Upstate Cellular Network Pension Plan, as applicable, as in effect on December 31, 2000. 
 Section 2.44 “QDRO” shall mean a “qualified domestic relations order” within the meaning of section 206(d)(3)(B) of ERISA and section 414(p) of the Code. 
 Section 2.45 “Qualified Joint and Survivor Annuity” shall mean an annuity for the life of the Participant, with a benefit payable after
the death of the Participant to the surviving Spouse of the Participant for the life of such surviving Spouse, where the periodic benefit payable to such surviving Spouse is 50% of the periodic benefit payable to the Participant during his lifetime,
and where the annuity provided is the Actuarial Equivalent of the Participant’s benefit payable in the form of a single life annuity as described in Section 10.02(a)(1) hereof as of his Benefit Payment Date; provided, however, with respect
to a Participant’s UCN Annuity Pension Benefit, in no event shall any reduction from the life annuity payable to the Participant exceed 10% of the life annuity amount and if the Participant’s spouse predeceases the Participant, the
benefits thereafter payable to the Participant shall revert to the unreduced amount to which the Participant is entitled in accordance with the benefit formula of Article V. 
 Section 2.46 “Qualified Military Service” shall mean, effective December 12, 1994, any service in the uniformed services (as defined
in Chapter 43 of Title 38, United States Code) by any Employee if such Employee is entitled to reemployment rights under such Chapter with respect to such service. 
 Section 2.47 “Qualified Pre-Retirement Survivor Annuity” shall mean an annuity for the surviving Spouse of a Participant in an amount equal to the amount payable to such surviving Spouse if the benefits
had been paid as a Qualified Joint and Survivor Annuity. If the Participant dies after his Early Retirement Date the benefit amount shall be determined as if the Participant had retired with an immediate Qualified Joint and Survivor Annuity on the
day before his death. In the case of a Participant who has any vested Accrued Benefit and who dies on or before his Early Retirement Date, the benefit amount shall be calculated as if he had (a) separated from service on his date of death;
(b) survived to his Early Retirement Date; (c) retired with an immediate Qualified Joint and Survivor Annuity on his Early Retirement Date; and (d) died on the day after what would have been his Early Retirement Date. 
  

 13 

 Section 2.48 “Reemployment Commencement Date” shall mean, with respect to any person, the
first date following a Severance Date on which that person performs an Hour of Service as described in Section 2.25. 
 Section 2.49 “Required Beginning Date” shall mean April 1 of the calendar year following the later of (a) the calendar year in which the Participant attains age 70 1/2 or (b) the calendar year in which the Participant retires. 
 Section 2.50 “Separation from Service” shall mean, for any Employee, his death, retirement, resignation, discharge, or any absence or event that causes him to cease to be an Employee. An Employee shall
not be considered to have had a Separation from Service during a period of Qualified Military Service if he returns to active service with a Participating Employer or Affiliated Company within such period during which his reemployment rights are
protected by law. 
 Section 2.51 “Severance Date” shall mean the earlier of (a) the date an Employee dies or retires,
quits or is discharged from the Participating Employer and all Affiliated Companies, or (b) the first anniversary of the date that the Employee is otherwise first absent from work from the Participating Employer and all Affiliated Companies
(with or without pay) for any other reason; provided, however, that if the Employee is on a military leave of absence, under leave granted by the Participating Employer or an Affiliated Company or required by law (effective as of December 12,
1994, including Qualified Military Service), the Employee shall not be considered to have had a Severance Date provided the absent Employee returns to active service with the Participating Employer or Affiliated Company within ninety (90) days
of his release from active duty or such shorter or longer period during which his reemployment rights are protected by law. 
 Section 2.52 “Spouse” shall mean (i) with respect to Sections 2.45 and 2.47 and Article X, the person who is married to the Participant on his Benefit Payment Date, and (ii) with respect to Section 9.02, the
person who is married to the Participant on the date of his death. When the word “spouse” is used without an initial capital letter in the Plan, it shall mean the person to whom the Participant is married as of the date of reference.

 Section 2.53 “Total Disability” shall mean a disability for which a Participant is eligible for and is receiving disability
benefits under the Participating Employer’s Long Term Disability Plan; provided, however, that with respect to a Participant’s UCN Annuity Pension Benefit, “Total Disability” shall mean a physical or mental condition which, in
the judgment of the Employee Benefits Committee, based on medical reports and other evidence satisfactory to the Employee Benefits Committee, will permanently prevent a Participant from satisfactorily performing his usual duties for the
Participating Employer. 
  

 14 

 Section 2.54 “Transition Benefit Account” shall mean the bookkeeping account maintained
with respect to a Participant in accordance with Section 6.01 to track the Participant’s Accrued Benefit under the Plan attributable to Transition Benefit Credits and Interest Credits that may be credited in the manner described in the
Plan. As more fully described in Section 6.01 of the Plan, a Transition Benefit Account does not represent a separately funded account, or an account into which any assets are segregated for an individual Participant, but rather a record of the
Participant’s Accrued Benefit under the Plan attributable to Transition and Interest Credits described above. 
 Section 2.55
“Transition Benefit Credits” shall mean the dollar credits, if any, credited to a Participant’s Transition Benefit Account in accordance with Section 6.03. 
 Section 2.56 “Trust Agreement” shall mean an instrument executed by the Company and a Trustee for purposes of providing a vehicle for
investment of the assets of the Plan. 
 Section 2.57 “Trustee” shall mean a party or parties appointed by the Company to hold
all or part of the assets of the Plan and each of their respective successors. 
 Section 2.58 “UCN Annuity Pension Benefit”
shall mean the portion of a Participant’s Accrued Benefit under the Plan that was frozen as of December 31, 1996 pursuant to Article V and which shall remain expressed as an annuity in the normal form described in Section 10.02(a)(1).

 Section 2.59 “Year of Service” shall mean the service credited to an Employee for purposes of determining the
Employee’s nonforfeitable interest in and eligibility to receive payment of his UCN Annuity Pension Benefit under the Plan, credited as described in Article IV. 
 Section 2.60 “Year of UCN Participation” shall mean the service credited to an Employee for purposes of determining the amount of the Employee’s UCN Annuity Pension Benefit under the Plan, credited
as described in Article IV. 
 Section 2.61 “Year of Vesting Service” shall mean the service credited to an Employee for
purposes of determining the Employee’s nonforfeitable interest in amounts credited to his Transition Benefit Account under the Plan, credited as described in Article IV. 
  

 15 

 ARTICLE III 
 ELIGIBILITY FOR PARTICIPATION 
 Section 3.01 Transition Benefit Participation.

 (a) Eligibility to Participate. Each Employee who was employed on December 31, 2000 by an employer that became a Participating
Employer on or before the Effective Date or was employed on December 31, 2000 by PrimeCo Personal Communications LP, Bell Atlantic Cellular Consulting Group Inc., Verizon Wireless of the Southeast, Inc., or Vodafone Americas Asia Inc. and was
transferred to a Participating Employer (other than Vodafone Americas Asia Inc.) as of January 1, 2001 shall be an Active Participant for purposes of Article VI of the Plan as of the Effective Date, if he is then a Covered Employee. Any other
Employee hired by a Participating Employer on or after January 1, 2001 shall be ineligible to participate in the Plan as an Active Participant for purposes of Article VI, even if he is otherwise a Covered Employee, a Participant with a UCN
Annuity Pension Benefit or a Participant with an AirTouch Annuity Pension Benefit. See Section 3.02 below for eligibility rules applicable to a Participant with a UCN Annuity Pension Benefit. See Appendix C for eligibility rules applicable to a
Participant with an AirTouch Annuity Pension Benefit. 
 (b) Recommencement of Participation. An Active Participant who ceases to be a
Covered Employee shall once again become an Active Participant for purposes of Article VI of the Plan on the date on which he resumes his status as a Covered Employee. 
 (c) Transfer to Non-Covered Employment. If a Participant ceases to be a Covered Employee but remains in the employ of a Participating Employer or an Affiliated Company, he shall remain a Participant, but shall
accrue no benefits hereunder for service rendered or hours worked while he is not a Covered Employee. 
 Section 3.02 UCN Annuity
Pension Benefit. With respect to a UCN Annuity Pension Benefit, no person who was not a Participant on December 31, 1995 shall be eligible to commence participation in the Plan. 
  

 16 

 ARTICLE IV 
 CREDITING OF SERVICE 
 Section 4.01 Crediting of Service for Transition Benefit Credits.
The following rules shall apply for calculating service under this Plan with respect to amounts credited to a Participant’s Transition Benefit Account: 
 (a) Crediting Years of Vesting Service. Except as provided otherwise in Section 4.03, an Employee shall be credited with
full and partial Years of Vesting Service for the period from his Employment Commencement Date or Reemployment Commencement Date to his Severance Date. Years of Vesting Service shall be calculated on the basis of twelve (12) consecutive months
of employment equal one year. For this purpose, periods of less than twelve (12) consecutive months which are not disregarded under Section 4.03 shall be aggregated on the basis that thirty (30) days equal one completed month or
one-twelfth ( 1/12) of a year and twelve (12) completed months equal one year. After aggregation, any period of service
of less than thirty (30) days shall be treated as a completed month. The following additional rules shall apply in calculating Years of Vesting Service under this subsection: 
 (1) If an Employee retires, quits, is discharged, or otherwise experiences a Separation from Service, the period commencing on the Employee’s
Severance Date and ending on the first date on which he again performs an Hour of Service shall be taken into account, if such date is within twelve (12) consecutive months of the date on which he last performed an Hour of Service; 

(2) If the Employee is absent from work for a reason other than one specified in Paragraph (1) above and within twelve (12) months of the
first day of such absence, the Employee retires, quits, discharged, or otherwise experiences a Separation from Service, the period commencing on the first day of such absence and ending on the first day he again performs an Hour of Service shall be
taken into account, if such day is within twelve (12) months of the date his absence began; 
 (3) Except to the extent specified in
Paragraph (4) below, service with an Affiliated Company before it becomes or after it ceases to be an Affiliated Company shall be disregarded except to the extent otherwise specified by action of the Board; and 
 (4) Years of vesting service credited as of December 31, 2000 for an Active Participant under the Verizon Wireless Savings and Retirement Plan,
another 401(k) plan sponsored by a Participating Employer or a subsidiary thereof, under a Prior Pension Plan, or otherwise counted under the Plan for vesting purposes shall be counted as Years of Vesting Service under this Plan (except any such
service which has been disregarded pursuant to the break in service rules contained in such plan) with 
  

 17 

 (5) Years of vesting service shall continue to be credited if an Active Participant is transferred to a
partner of a Participating Employer. 
 (6) Years of vesting service shall include a Participant’s service with a Participating
Employer that was not counted under the Plan for purposes of determining the Participant’s eligibility for a UCN Annuity Pension Benefit. 
 Section 4.02 Crediting of Service for UCN Annuity Pension Benefit. The following rules shall apply for calculating service under this Plan with respect to a Participant’s UCN Annuity Pension Benefit: 
 (a) Crediting Years of Service. Except as provided otherwise in Sections 4.04 and 5.03, an Employee shall be credited with a Year of Service for
each Plan Year during which the Employee completes at least 1,000 Hours of Service with a Participating Employer or an Affiliated Company. In the case of an Employee who was employed by a Partner immediately preceding his employment with the
Participating Employer, a Year of Service shall include each calendar year in which the Employee completed at least 1,000 Hours of Service with the Partner, provided that no such additional service credited under an early retirement incentive of a
Partner Plan shall be credited under this Plan. Except to the extent specified in this Section 4.02(a) and Section 5.03, service with an Affiliated Company before it becomes or after it ceases to be an Affiliated Company shall be
disregarded except to the extent otherwise specified by action of the Board. Notwithstanding the foregoing, Years of Service for periods after December 31, 2000 shall be determined using the elapsed time method described in Section 4.01(a)
(but disregarding Sections 4.01(a)(4), (5) and (6)). 
 (b) Crediting Years of UCN Participation. Except as provided otherwise in
Sections 4.04 and 5.03, an Employee shall be credited with a Year of UCN Participation for each Plan Year after the original Effective Date of the Plan, but prior to January 1, 1997, during which the Employee is in a class of employment
eligible to participate in the Plan under the terms of the Plan as in effect during such period and the Employee completes at least 1,000 Hours of Service with a Participating Employer. In the case of a Participant who was covered by a Partner Plan
and who was transferred prior to January 1, 1997 directly to a Participating Employer from the Partner, the term Year of UCN Participation includes each year during which the Employee accrued a benefit under the Partner Plan, provided that no
such additional service credited under an early retirement incentive of a Partner Plan shall be credited under this Plan. Except to the extent specified in this Section 4.02(b) and Section 5.03, service with a Participating Employer before
it becomes or after it ceases to be a Participating Employer shall be disregarded except to the extent otherwise specified by action of the Board. 
 (c) Post-Freeze Service. Notwithstanding anything herein to the contrary, no service with a Participating Employer or any Affiliated Company after December 31, 1996 shall be taken into account under this Plan for the purpose of

  

 18 

 
calculating the amount of a person’s UCN Annuity Pension Benefit, but such service shall be taken into account as Years of Service for purposes of
determining eligibility for payment of a Participant’s UCN Annuity Pension Benefit. 
 Section 4.03 Treatment of Years of
Vesting Service Upon Reemployment for Amounts Credited to Transition Benefit Accounts. Upon an individual’s reemployment as a Covered Employee after a Separation from Service, he shall retain credit for the Years of Vesting Service he had
earned prior to his Severance Date; provided, however, if the Participant has incurred a Period of Severance, Years of Vesting Service completed prior to the Period of Severance shall be disregarded upon the Participant’s reemployment as a
Covered Employee, if: 
 (a) The Participant had no vested interest in his Accrued Benefit under the Plan at the time of his Severance Date,
and 
 (b) The Participant’s number of consecutive Periods of Severance experienced by the Participant (including in such series of
Periods of Severance the Period of Severance with regard to which a determination is being made as to whether prior Years of Vesting Service are disregarded hereunder) equal or exceed the greater of: 
 (1) five (5) or 
 (2) the number of
Years of Vesting Service, other than cancelled service, completed by the Employee, prior to his Period of Severance. 
 Section 4.04
Treatment of Service Upon Reemployment for UCN Annuity Pension Benefit Purposes. Upon an individual’s reemployment as a Covered Employee after a Separation from Service, he shall retain credit for the Years of UCN Participation and Years
of Service he had earned prior to his Break in Service, except as follows: 
 (a) Treatment of Years of Service. If the Participant
has incurred a Break in Service, Years of Service completed prior to the Break in Service shall be disregarded upon the Participant’s reemployment, if: 
 (1) The Participant had no vested interest in his Accrued Benefit under the Plan at the time of his Break in Service, and 
 (2) The number of consecutive Breaks in Service experienced by the Participant (including in such series of Breaks in Service, the Breaks in Service with regard to which a determination is being made as to whether
prior Years of Service are disregarded hereunder) equal or exceed the greater of: 
 (A) five (5) or 
  

 19 

 (B) the number of Years of Service, other than cancelled service, completed by the Employee, prior to
his Break in Service. 
 (3) Notwithstanding the foregoing, if a Participant’s Vesting Service is disregarded pursuant to this
Section 4.04(a), such Vesting Service shall be restored if he completes five Years of Service following his Reemployment Commencement Date, if he is then a Covered Employee. 
 (b) Cash-Outs. Years of UCN Participation and Years of Service completed prior to any Break in Service, where the Participant has received or is
deemed to receive a single-sum settlement of his entire vested Accrued Benefit pursuant to Section 10.01 or Section 10.03(a)(3), shall be disregarded upon a Participant’s reemployment; provided, however, that: 
 (1) Years of UCN Participation and Years of Service of a Participant described in the preceding portion of this sentence who has been deemed to receive
a distribution of his entire vested Accrued Benefit of zero dollars shall not be disregarded pursuant to this Section if the Participant again becomes a Covered Employee at a time when the number of consecutive Breaks in Service experienced by the
Participant is less than 5; and 
 (2) Years of UCN Participation and Years of Service of a Participant described in the preceding portion
of this sentence who has received a distribution of his entire vested Accrued Benefit pursuant to Section 10.01 or 10.03(a)(3) shall not be disregarded pursuant to this Section if the Participant again becomes a Covered Employee and repays the
full amount of the cash-out distribution plus interest from the date of distribution to the date of repayment, compounded annually at the rate of 120% of the federal mid-term rate (as in effect under section 1274 of the Code for the first month of a
Plan Year (or such other rate as may be provided in ERISA regulations) per annum before the Participant has five (5) consecutive one year Breaks in Service beginning after the distribution. 
 Section 4.05 Special Rules. Notwithstanding anything in Section 4.01 or 4.02 to the contrary, and subject to provisions of
Section 4.03 and 4.04 (as applicable), service credited, if any, for purposes of a Participant’s AirTouch Annuity Pension Benefit shall be credited as described in Appendix C. 
  

 20 

 ARTICLE V  
 UCN ANNUITY PENSION BENEFIT FORMULA 
 Section 5.01 Calculation of UCN Annuity Pension
Benefit. The annual rate of retirement income benefit with respect to a Participant’s UCN Annuity Pension Benefit commencing on the Participant’s Normal Retirement Date shall be the sum of (a) and (b) less, where pertinent,
(c) where: 
 (a) equals 1.39 percent times the Participant’s Years of UCN Participation times the Participant’s average
annual Compensation during the five (for all Participants on the active payroll on or after December 31, 1995, three) consecutive Years of Participation (or during all Years of UCN Participation if less than the foregoing applicable number of
Years of Participation) during which the Participant was paid the highest annual Compensation but not to exceed the Social Security Wage Base in effect during the calendar year preceding retirement; plus 
 (b) equals 1.54 percent times the Participant’s Years of UCN Participation times the average of his last five (for all Participants on the active
payroll on or after December 31, 1995, three) years (or all Years of UCN Participation if less than the foregoing applicable number of Years of Participation) of Compensation preceding retirement in excess of the Social Security Wage Base in
effect during the calendar year preceding retirement; less 
 (c) equals, for persons whose Years of UCN Participation in (a) or
(b) above take into account service under a Partner’s Plan, the benefit payable to the Participant under the Partner’s Plan expressed in terms of a life annuity benefit payable at the same time as the benefit payable under this Plan
and using the same actuarial equivalent factors used under this Plan. 
 This formula benefit is computed on the basis of the benefit being payable in the
form of an annuity for the life of the Participant with no further payments after his death. The actual amount of accrual or monthly benefit shall depend on the actual form of payment being paid in accordance with Article X which shall, in any
event, be a benefit of actuarially equivalent value of the rate determined under this Section 5.01. 
 Section 5.02 UCN Annuity
Pension Benefit. A Participant’s UCN Annuity Pension Benefit at any particular point in time shall equal his Section 5.01 formula benefit based upon his Compensation and Years of UCN Participation as of the date such portion of his
Accrued Benefit is being determined. 
 Section 5.03 UCN Annuity Pension Benefit Transfer Policy. 
  

 21 

 (a) Where the Code Does Not Treat this Plan and Another Plan as a Single Plan. If a Participant
ceases to be an active Participant in this Plan prior to the Effective Date because he has been transferred to the employ of an Affiliated Company that maintains a defined benefit pension plan, his UCN Annuity Pension Benefit under this Plan
together with an allocable portion of the Plan’s assets shall be transferred to the plan maintained by the Affiliated Company. The transfer of assets and liabilities shall be made at such time and pursuant to such terms and conditions as the
Employee Benefits Committee may determine in accordance with applicable law. 
 If an Employee who became an active Participant in this Plan
prior to the Effective Date has an accrued benefit under a defined benefit pension plan maintained by an Affiliated Company, the Employee Benefits Committee shall accept a transfer of such accrued benefit, together with an allocable portion of the
other plan’s assets at such time and pursuant to such terms and conditions as the Employee Benefits Committee may determine in accordance with applicable law. In the event of such transfer, the Participant’s benefits shall be determined
pursuant to the terms of this Plan taking into account all of the Participant’s compensation and service credited under the Affiliated Company’s plan as of the date of transfer. If this Plan has a career pay formula, current and future
benefit accruals shall be determined under this Plan’s formula while a Participant’s past service benefit shall equal the accrued benefit transferred to the Plan. 
 In no event shall a Participant’s UCN Annuity Pension Benefit under this Plan be less than the accrued benefit he earned under the Affiliated
Company’s plan as of the date such benefit is transferred to the Plan, including early retirement benefits, retirement-type subsidies and optional forms of benefits, all as determined pursuant to Code section 411(d)(6) regulations thereunder.

 A Participant in this Plan shall be credited with all Years of Service with the Employer and with any Affiliated Company for purposes of
eligibility, vesting and entitlement to benefits, whether or not the Participant had an accrued benefit in another plan that has been transferred to this Plan. 
 (b) Transfer to a Partner. If a Participant is transferred prior to the Effective Date from the Participating Employer directly to a Partner, the Participant may elect to transfer his UCN Annuity Pension
Benefit under this Plan and assets equivalent to the present value of his UCN Annuity Pension Benefit (using the PBGC required interest rate in effect on the first day of the Plan Year in which the transfer is elected) to the Partners’ defined
benefit pension plan. Any such transfer shall be subject to the terms and conditions of the Partner’s Plan. 
 Section 5.04 UCN
Annuity Pension Benefit Freeze. Notwithstanding anything herein to the contrary, all UCN Annuity Pension Benefits under the Plan as of December

  

 22 

 
31, 1996 shall be frozen as of such date and no further UCN Annuity Pension Benefits shall accrue after December 31, 1996. 
 Section 5.05 20% UCN Annuity Pension Benefit Increase. Each Plan Participant who is on the active payroll as of January 1, 1996 who has
five or more Years of Service under this Plan upon the earlier of (a) termination of employment or (b) December 31, 1996, shall have his UCN Annuity Pension Benefit at the earlier of (1) termination of employment or
(2) December 31, 1996 increased by 20%. For this purpose, an eligible Participant’s UCN Annuity Pension Benefit shall include the three year average and compensation changes described in Section 5.01 above. 
  

 23 

 ARTICLE VI 
 TRANSITION BENEFIT ACCOUNTS AND CREDITS 
 Section 6.01 Establishment of Transition Benefit
Account. A Transition Benefit Account shall be established and maintained for each Active Participant and credits shall be made to such Account in accordance with the provisions of this Article VI. The Transition Benefit Accounts established and
maintained hereunder are for bookkeeping purposes only and shall not be construed as creating for any Employee a right to specific assets of the Plan. 
 Section 6.02 Allocations to Transition Benefit Account. Transition Benefit Credits and Interest Credits generally shall be allocated to the Transition Benefit Account of an Active Participant in accordance
with this Section 6.02 until such Participant’s Benefit Payment Date. Transition Benefit Credits and Interest Credits with respect to a Participant’s period of Qualified Military Service shall be provided in accordance with section
414(u) of the Code. 
 (a) Allocation of Transition Benefit Credits. The Transition Benefit Account of each Active Participant who
completes a Year of Participation during a Plan Year shall be increased as of the last day of such Plan Year, or, if earlier, as of the Participant’s Benefit Payment Date, by the amount of Transition Benefit Credits allocable under
Section 6.03. 
 (b) Allocation of Interest Credits. Interest Credits on the balance of each Participant’s Transition
Benefit Account shall be allocated to the Participant’s Transition Benefit Account as of the last day of the Plan Year in accordance with Section 6.04. Interest Credits shall continue to be allocated to the Transition Benefit Account of a
Participant who has incurred a Separation from Service until such Participant’s Benefit Payment Date and the applicable interest crediting rate shall be prorated for any interest computation period shorter than a Plan Year. 
 Section 6.03 Transition Benefit Credits. Each Plan Year, Transition Benefit Credits shall be credited to the Transition Benefit
Account of each Active Participant who completes a Year of Participation during such Plan Year in an amount equal to 2 percent of his Compensation.  
 Section 6.04 Interest Credits. Each Participant’s Transition Benefit Account shall be credited with interest based on the balance of the Participant’s Transition Benefit Account and an interest
rate equal to the annual rate of interest on 30-year Treasury securities (or any replacement index specified by the Secretary of the Treasury under section 417(e)(3)(A)(ii)(II) of the Code) for the second month prior to the first day of the
applicable Plan Year, compounded annually. If an Active Participant has a Separation of Service during a Plan Year, he shall receive a prorated portion of the Interest Credit equal 

  

 24 

 
to the Interest Credit for the Plan Year multiplied by a fraction, the numerator of which is the number of full months of employment the Participant
completed prior to his Separation from Service and the denominator of which is 12. Such interest shall be credited to the Participant’s Transition Benefit Account prior to the crediting of Transition Benefit Credits under Section 6.03 with
respect to such Plan Year. 
 Section 6.05 Termination of Transition Benefit Account. A Participant’s Transition Benefit
Account shall be terminated as follows: 
 (a) Commencement of Distribution. If distributions commence under Article X to the
Participant, the Participant’s Transition Benefit Account shall be terminated as of the Participant’s Benefit Payment Date. 
 (b)
Death of a Participant. If a Participant dies prior to the Benefit Payment Date at a time when the Participant was fully vested in his Transition Benefit Account, the Participant’s Transition Benefit Account shall cease to exist upon
commencement of the death benefit described in Section 9.02 or 9.03. 
 (c) Separation from Service Prior to Vesting. A
Participant’s Transition Benefit Account shall be eliminated if a non-vested Participant is deemed to have received a zero-dollar distribution of the Participant’s entire nonforfeitable Accrued Benefit as of the Participant’s
Separation from Service in accordance with Section 10.01, provided that the Transition Benefit Account shall be restored if the Participant has a Reemployment Commencement Date prior to the date on which the Participant incurs a Period of
Severance of five consecutive years. In such a case, the Transition Benefit Account shall be restored to the same balance it would have had if it had never been eliminated, taking into account the Interest Credits which would have accrued in the
interim. 
  

 25 

 ARTICLE VII 
 ACCRUED BENEFIT 
 Section 7.01 Accrued Benefit. Subject to the rules prohibiting cut-backs under
Appendix C with respect to portability benefits and except as provided in Section 7.02 (Code Section 415 Limits), a Participant’s Accrued Benefit under the Plan shall be equal to the Participant’s Transition Benefit
Account, if any, plus the following pension benefits, if any: 
 (a) The UCN Annuity Pension Benefit determined pursuant to Article V; and

 (b) The AirTouch Annuity Pension Benefit determined pursuant to Appendix C. 
 Section 7.02 Maximum Benefit Limitations. 
 (a) Maximum Benefit Limitations. A Participant’s Accrued Benefit under the Plan shall not exceed the amount set forth in section 415 of the Code, the limitations of which are hereby incorporated by
reference to the Plan. For purposes of this Section 7.02, the term “compensation” for a Limitation Year is defined in Section 2.13(c) of the Plan. 
 (b) Combined Plans and Affiliated Companies Limitations. 
 (1) If the Participant is a participant
in any other qualified defined benefit pension plan sponsored by a Participating Employer or an Affiliated Company, the Participant’s pension benefit under such other plan shall be aggregated with his projected benefit under the Plan, and the
benefit under the Plan and such other plan shall be reduced proportionally, to the extent necessary, so that the aggregate of such benefits does not exceed the limitations set forth in this Section. 
 (2) If the Participant is a participant in one or more qualified defined contribution plans sponsored by a Participating Employer or an Affiliated
Company, his benefit under the Plan and any other defined benefit plan sponsored by a Participating Employer or an Affiliated Company shall be reduced proportionally, to the extent necessary, to meet the combined plan limits of section 415(e) of the
Code; provided, however, that prior to the Effective Date, the Employee Benefits Committee in its discretion reduced any such contributions or other benefits, including UCN Annuity Pension Benefits, to the extent necessary to meet the combined plan
limits of section 415(e) of the Code; and provided, further that the Accrued Benefit of a Participant who is credited with an Hour of Service on or after January 1, 2000 shall not be reduced to meet such limit with respect to payments due on or
after January 1, 2000. 
  

 26 

 (c) Cost of Living Adjustments. If the maximum dollar limitation under this Section 7.02 and
under section 415 of the Code is increased in accordance with cost of living adjustments pursuant to section 415 of the Code, all UCN Annuity Pension Benefits in pay status that are subject to such limitation shall increase to the maximum level
permitted taking into account the cost of living adjustment, provided that in no event shall a Participant’s UCN Annuity Pension Benefit be increased to more than the level of the Participant’s UCN Annuity Pension Benefit under the Plan
calculated without regard to the Code’s dollar limitation. 
  

 27 

 ARTICLE VIII 
 RETIREMENT BENEFITS 
 Section 8.01 Normal Retirement Benefits. Each Participant who has a
Separation from Service upon attaining Normal Retirement Age shall be entitled to receive a monthly pension commencing as of his Normal Retirement Date equal to the Participant’s Accrued Benefit or its Actuarial Equivalent in a form set forth
in Article X. Each Participant shall have a fully vested and nonforfeitable interest in his Accrued Benefit upon attainment of Normal Retirement Age while an Employee. 
 Section 8.02 Postponed Retirement Benefits. In the event that the Participant remains an Employee after his Normal
Retirement Date, he shall be entitled to a monthly pension commencing as of his Postponed Retirement Date. The Participant’s benefit commencing as of the date described in the preceding sentence shall equal his Accrued Benefit (or the Actuarial
Equivalent in a form set forth in Article X) determined as of his Postponed Retirement Date; provided, however, that a Participant’s UCN Annuity Pension Benefit shall be equal to the Section 5.01 formula benefit using the
Participant’s relevant service and Compensation as of the earlier of the date he terminates employment or December 31, 1996. No actuarial adjustment shall be made to account for the benefit payments commencing after Normal Retirement Age
provided, however, for any Participant whose Required Beginning Date is April 1 of the calendar year after the year in which he incurs a Separation from Service, an Actuarial Equivalent adjustment to reflect commencement of payments after
April 1 following the calendar year in which he attained age 70 1/2. The Actuarial Equivalent adjustment described in the
preceding sentence for any year shall reduce (but not below zero) any increase in the Participant’s Accrued Benefit for the year attributable to additional Transition Benefit Credits and Interest Credits. 
 Section 8.03 UCN Early and Disability Retirement Pension Benefits. 
 (a) Unreduced UCN Early Retirement Pension Benefit. A Participant who reaches age 55 and completes at least 20 Years of Service or who completes
at least 30 Years of Service, regardless of his age, may elect early retirement with respect to his UCN Annuity Pension Benefit. The amount of his UCN Annuity Pension Benefit payable as an early retirement benefit shall be determined in accordance
with Article V using the Participant’s relevant service and Compensation as of the earlier of the date he terminates employment or December 31, 1996. This benefit shall be payable on the Participant’s Early Retirement Date without
reduction to take account of its being paid prior to Normal Retirement Age. 
  

 28 

 (b) Reduced UCN Early Retirement Pension Benefit. Each Participant who reaches age 50 but not 55
and who has completed at least 25 Years of Service may also elect early retirement with respect to his UCN Annuity Pension Benefit. The amount of this benefit shall be determined in accordance with Article V using the Participant’s relevant
service and Compensation as of the earlier of the date he terminates employment or December 31, 1996. If the benefit is payable prior to age 55 it shall be reduced by 0.5 percent for each calendar month or part thereof by which his age at
Separation from Service is less than 55 years. 
 (c) Eligibility for UCN Retirement Benefits. Notwithstanding anything herein to the
contrary, for purposes of determining whether a Participant has met the age and service requirements for payment of his UCN Annuity Pension Benefit as an unreduced and reduced early retirement benefits, the age requirements and the service
requirements shall be reduced by three for each Participant on the active payroll on or after December 31, 1995. For example, if an unreduced benefit is normally available for Participants who have reached age 55 and have 20 Years of Service,
under this enhancement, the requirement shall be reduced to age 52 with 17 Years of Service. 
 (d) Eligibility for UCN Retirement
Benefits Pending NYNEX Corporation Pension Plan Eligibility. Effective as of [January 1, 1997], a Participant with a benefit under the NYNEX Corporation Pension Plan shall be eligible for an unreduced pension under this Plan if the
requirements described above are met equal for the Participant’s UCN Annuity Pension Benefit and the unreduced pension benefit that the Participant would be eligible to receive under the NYNEX Corporation Pension Plan as if he met such
eligibility requirements; provided, however, that such unreduced pension shall terminate when the Participant otherwise satisfies the eligibility requirements for an unreduced pension under the NYNEX Corporation Pension Plan. 
 (e) UCN Early Retirement Pension Benefit Commencement. 
 (1) A Participant described in subsection (a), (b), (c), or (d) above may elect in writing, no earlier than 90 days prior to his Benefit Payment Date and in no event earlier than the date he receives the
explanation described in Section 10.02(b)(4), to receive, in lieu of the benefit starting as of his Normal Retirement Date, a benefit determined as described in subsection (a), (b), (c), or (d) above hereof (or its Actuarial
Equivalent in a form set forth in Article X) starting as of his Early Retirement Date or the first day of any month thereafter prior to his Normal Retirement Date. A Participant’s Benefit Payment Date shall not occur earlier than 30 days after
the Participant receives the explanation described in Section 10.02(b)(4). 
 (f) UCN Annuity Disability Benefit. A Participant
with 15 Years of Service who has a Separation from Service on account of Total Disability before he is eligible for a normal or early UCN retirement benefit shall be entitled to receive a disability pension benefit commencing at what would have been
the Participant’s Normal 

  

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Retirement Date. The amount of this benefit shall be determined in accordance with Article V using the Participant’s relevant service and Compensation
as of the earlier of the date he has a Separation from Service or December 31, 1996. 
 Section 8.04 Deferred Vested
Benefit. 
 (a) Transition Benefit Account. A Participant who has a Separation from Service prior to the time he is eligible to
retire on a Normal Retirement Date but after he has completed three (3) or more Years of Vesting Service or suffered a Total Disability shall be fully vested and entitled to receive his Transition Benefit Account as a monthly pension commencing
as of his Normal Retirement Date in an amount which, subject to Section 7.02, is equal to his Transition Benefit Account (or its Actuarial Equivalent in a form set forth in Article X), determined as of his Separation from Service with Interest
Credits until the Participant’s Benefit Payment Date; unless it is cashed out earlier in accordance with Section 10.01 or, at the Participant’s election, is paid at a date on or before the Participant’s Normal Retirement Age.

 (b) UCN Annuity Pension Benefit. A Participant who has five or more Years of Service and has a Separation from Service before he is
eligible for a normal or an early retirement benefit as described in Section 8.03(a) or (b), as modified by (c) or (d) (if applicable) shall be entitled to receive a deferred vested benefit with respect to his UCN Annuity Pension
Benefit. The amount of this benefit shall be equal to the Participant’s UCN Annuity Pension Benefit as of the earlier of the date he terminates employment or December 31, 1996. This deferred vested benefit shall be paid commencing on what
would have been the Participant’s Normal Retirement Date unless it is cashed out earlier in accordance with Section 10.01 or, at the Participant’s election, is paid at what would have been the Participant’s Early Retirement Date,
providing that the Participant has sufficient service and has reached the age or ages prescribed in Sections 8.03 (a) or (b) as modified by (c), which ever is applicable. If a Participant elects to have his deferred vested benefit paid
prior to Normal Retirement Age, the monthly benefit shall be reduced to the Actuarial Equivalent of the benefit which would have been payable at his Normal Retirement Date. All UCN Annuity Pension Benefits accrued under the Plan as of
December 31, 1996 shall become or shall remain 100% vested. 
 (c) Deferred Vested Benefit Commencement. 
 (1) A Participant who satisfies the requirements in subsection (a) may elect in writing, no earlier than 90 days prior to his Benefit Payment Date
and in no event earlier than the date he receives the explanation described in Section 10.02(b)(4), to receive, in lieu of the benefit starting as of his Normal Retirement Date, a benefit starting, or payable, as of the first day of the month
coincident with or next following his Separation from Service, or the first day of any month thereafter but no later than his Normal Retirement Age, which benefit shall be the Actuarial Equivalent of his Transition Benefit Account and payable in a
form set forth in Article X. 
  

 30 

 (2) A Participant who satisfies the requirements in subsection (b) may elect in writing, no earlier
than 90 days prior to his Benefit Payment Date and in no event earlier than the date he receives the explanation described in Section 10.02(b)(4), to receive, in lieu of the benefit starting as of his Normal Retirement Date, a benefit starting,
or payable, as of the earlier date set forth in subsection (b), which benefit shall be the Actuarial Equivalent of his UCN Annuity Pension Benefit which would have been payable at this Normal Retirement Date and payable in a form set forth in
Article X. 
 (3) Notwithstanding the foregoing, a Participant’s Benefit Payment Date shall not occur earlier than 30 days after the
Participant receives the explanation described in Section 10.02(b)(4). 
 Section 8.05 Failure to Elect Payment by Normal
Retirement Age. If a Participant (a) who was formerly an Active Participant, (b) who incurred a Separation from Service after becoming vested in his Accrued Benefit, and (c) who has not received a complete distribution of his
Accrued Benefit, fails to elect to receive payment in a particular optional form of payment described in Section 10.03 by the date the Participant attained Normal Retirement Age, then the Employee Benefits Committee may commence payment in the
automatic form of benefit described in Section 10.02(a)(1) or (2), as applicable in accordance with Section 15.01 of the Plan. 
 Section 8.06 Normal Retirement Benefit. The amount of the normal retirement benefit provided shall be the greater of what a Participant or Vested Participant could have received under the early retirement provisions of the Plan
or the benefit commencing at his Normal Retirement Date. 
 Section 8.07 Benefits Not Affected by Subsequent Social Security
Changes. Any benefits which are being paid to a Participant or Beneficiary under this Plan and the vested benefit of a Participant who has separated from the service of a Participating Employer shall not be decreased by reason of any
post-separation increase in the benefit levels or the wage base under Title II of the Social Security Act effective after the later of September 2, 1974, or the date of first receipt of any benefit provided by this Plan. In the case of a
Participant who separates from the service of a Participating Employer with a vested benefit and who returns to employment and participation in the Plan, his vested benefit shall not be decreased by reason of any post-separation increase in Social
Security benefit levels or the wage base effective after September 2, 1974, and during separation from service which would decrease the benefits to which he would have been entitled had he not returned to service after his separation.

  

 31 

 ARTICLE IX  
 DEATH BENEFITS 
 Section 9.01 Death after Benefit Payment Date. In the event of the death
of a Participant whose benefits are in “pay status” (i.e., after his Benefit Payment Date), the death benefit shall be determined by the form of payment in effect for the Participant at the time of his death. 
 Section 9.02 Death Prior to Benefit Payment Date. 
 (a) UCN Pension Death Benefit. Upon the death of a Participant with a UCN Annuity Pension Benefit who dies prior to his Benefit Payment Date and who dies after becoming vested in his Accrued Benefit, his
surviving Spouse shall be entitled to a Qualified Pre-Retirement Survivor Annuity. In the case of a Participant who attained his Early Retirement Date on or before his date of death, this benefit may commence as early as the first day of the month
next following the date of death. In other cases, the benefit may commence as early as the first day of the month following what would have been the Participant’s Early Retirement Date. 
 (b) Transition Benefit Account Death Benefit. If a Participant dies prior to his Benefit Payment Date and the Participant was vested in his
Accrued Benefit, which consists of a Transition Benefit Account or a Transition Benefit Account and a UCN Annuity Pension Benefit, then the Transition Benefit Account death benefit shall be payable in accordance with this Section 9.02
(b) to the Participant’s Spouse or if the Participant has no Spouse, his Beneficiary. 
 (1) Amount of Death Benefit. As
applied to any or all of a deceased Participant’s benefit which existed in the form of a Transition Benefit Account at the time of death, the amount of the Transition Benefit Account death benefit shall be determined as follows: 
 (A) If the Transition Benefit Account death benefit is payable in the form of a single-sum distribution, then the aggregate amount of the benefit shall
be equal to the single-sum distribution which the Participant would have been eligible to receive if the Participant had a Separation from Service on the date of death, survived to the Benefit Payment Date, and elected a benefit in the form of a
single-sum distribution. 
 (B) If the Transition Benefit Account death benefit is payable in the form of a single life annuity, then the
amount shall be the Actuarial Equivalent of the Participant’s Transition Benefit Account on the Benefit Payment Date, based on the age of the designated Beneficiary on the Benefit Payment Date. 
  

 32 

 (2) Form of Payment. A Participant’s Spouse may elect to receive the Transition Benefit
Account death benefit described in (b)(1) above either in the form of a single life annuity or in the form of a single-sum distribution. If the Participant does not have a Spouse, the Transition Benefit Account death benefit described in (b)(1)
above payable to the Participant’s Beneficiary shall be paid solely in the form of a single-sum distribution. An election by the Spouse to receive a single-sum distribution must be made by notification to the Employee Benefits Committee within
the 90-day period ending on the Benefit Payment Date. Any election for a single-sum distribution may be revoked by the Spouse during the specified election period. Such revocation shall be effected by written notification to the Employee Benefits
Committee. Following such revocation, another election may be made at any time during the specified 90-day election period. 
 (3)
Benefit Payment Date. The Benefit Payment Date for the Transition Benefit Account death benefit shall be the later of (A) the earliest date on which the Participant would have been eligible to receive his benefit pursuant to Article X,
or (B) the first day of the month following the month in which the Participant’s death occurs, unless the Spouse is the sole Beneficiary and elects, in writing, to defer payment until the later of (i) the Participant’s Normal
Retirement Date or (ii) the first day of the month following the month in which the Participant’s death occurs. If the Beneficiary is the estate, a trust or one or more designated Beneficiaries, then the Beneficiary(ies) shall have no
right to defer the Benefit Payment Date in the manner stated above. 
 Section 9.03 Small Cash Balance Death Benefits.
Notwithstanding any other provision of this Article IX, if the death benefit payable on behalf of a deceased Participant has a single-sum distribution value of $5,000 or less ($3,500 or less prior to January 1, 1998) as of the Benefit Payment
Date, such benefit shall be distributed to the Participant’s Beneficiary determined pursuant to Section 10.11 as soon as practicable following the Participant’s death in the form of a single-sum distribution. 
 Section 9.04 Minimum Distribution Requirements. Distributions under the Plan shall otherwise comply with the requirements of section
401(a)(9) of the Code and the regulations thereunder, including the incidental death benefit requirements. 
 Section 9.05 Sickness
Death Benefit. Upon the death of any Employee or any pensioner who retired on or prior to December 31, 1996 and is receiving UCN Annuity Pension Benefits as normal, early, deferred or disability pension benefits in accordance with the
provision of Section 8.01, 8.02, 8.03(a) 8.03(b) or 8.03(f) which death is caused by sickness or injury, except an injury arising in the course of employment with the Participating Employer, a death benefit will be paid to: 
 (a) the spouse of the deceased Employee or pensioner if the spouse is legally married to him at the time of his death; 
  

 33 

 (b) the unmarried child or children under the age of 23 years (or over that age if physically or mentally
incapable of self-support) of the deceased Employee or pensioner who was actually supported in whole or in part by the deceased Employee or pensioner at the time of his death; 
 (c) a dependent parent who lives in the same household with the Employee or pensioner or who lives in a separate household in the vicinity which is
provided for the parent by the Employee or pensioner; or 
 (d) a trust for the benefit of any of the above beneficiaries. 
 If none of the enumerated beneficiaries survives the Employee or pensioner, no death benefit will be paid under this Plan. If two or more of the enumerated beneficiaries
survive the Employee or pensioner, the Employee Benefits Committee, in its sole discretion, may pay the death benefit to one of the beneficiaries or allocate it among the beneficiaries in such portions as it may determine. 
 The amount of the death benefit shall equal 12 months’ wages computed at the Employee’s or pensioner’s most recent rate of pay at the date of death or at
retirement, as the case may be. If the Employee or pensioner was not employed full time, the death benefit shall be prorated in accordance with the ratio that the individual’s usual Hours of Service during a Plan Year bear to the Hours of
Service of full-time employees during a Plan Year. If the Employee or pensioner is entitled to receive a death benefit from a Partner Plan that is similar to the benefit provided under this Section, the benefit hereunder shall be reduced by the
death benefit provided under the Partner Plan. For purposes of this Section, the term rate of pay means the total of the following amounts: (1) the Employee’s annualized base rate of pay at death, (2) all bonuses paid to the Employee
in the calendar year preceding his death and (3) all commissions paid to the Employee in the calendar year preceding his death. The term rate of pay shall not include overtime, tier payments or any other form of special or nonrecurring
compensation except for bonuses and commissions included under the preceding sentence. 
 The term rate of pay shall not include overtime or any other form
of special or nonrecurring compensation except for bonuses and commissions included under the preceding sentence, or any amounts in excess of $170,000 (as adjusted for cost of living increases under section 401(a)(17) of the Code) paid to an
Employee during any Plan Year. 
 An Employee or pensioner may file with the Employee Benefits Committee a written direction that the death benefit will be
paid to his beneficiary in equal monthly installments over any period of years up to ten. In the absence of such written direction, the Employee Benefits Committee in its sole discretion may pay the death benefit in a lump sum or in installment
payments, the number and size of which may be varied by the Employee Benefits Committee as circumstances may indicate. 
  

 34 

 ARTICLE X  
 METHOD AND TIMING OF RETIREMENT BENEFIT DISTRIBUTION 
 Section 10.01 Cash-Outs.

 (a) Cash-Outs. Notwithstanding anything herein to the contrary, if the Actuarial Equivalent single sum present value, determined as
of the Benefit Payment Date, of the vested Accrued Benefit payable to a Participant in accordance with Article VIII does not exceed $5,000, such vested Accrued Benefit shall be paid, as soon as administratively practicable following the
Participant’s Separation from Service (prior to the Effective Date within one year of termination of participation with respect to a UCN Annuity Pension Benefit), as a single-sum in settlement of all liabilities of the Plan in connection with
the Participant; provided, however, that such benefit has not commenced in any other form. Notwithstanding the preceding sentence, prior to January 1, 2001, such a distribution would be made only if the Actuarial Equivalent single sum present
value, determined as of the Benefit Payment Date, of the vested Accrued Benefit payable to the Participant did not exceed $3,500 and had never exceeded $3,500 at the time of any prior distribution. 
 (b) Cash-Out Window. Notwithstanding anything herein to the contrary, the vested Accrued Benefit of each Participant who incurred a Separation
from Service prior to December 31, 2001 shall be distributed in the manner described in Section 10.01(a) as soon as administratively practicable after December 31, 2001 if the Actuarial Equivalent single-sum value of the
Participant’s vested Accrued Benefit does not exceed $5,000; provided that the Participant has not been rehired prior to the Benefit Payment Date. 
 (c) Deemed Cash-Outs. If the present value of a Participant’s vested Accrued Benefit at the time of his Separation from Service is zero, the Participant shall be deemed to have received a single-sum
payment of his entire vested Accrued Benefit as of the date of his Separation from Service. 
 Section 10.02 Benefits Not Described
in Section 10.01. 
 (a) Automatic Form of Payment. Where benefits are not subject to the provisions of Section 10.01,
the portion of the Participant’s Accrued Benefit attributable to his AirTouch Annuity Pension Benefit shall be paid as set forth in Appendix C and the portion of his Accrued Benefit attributable to his UCN Annuity Pension Benefit and his
Transition Benefit Account shall be paid as follows: 
 (1) if a Participant does not have a Spouse as of his Benefit Payment Date, benefits
shall be paid in the form of a single life annuity payable monthly during the Participant’s lifetime with no further payments on his behalf after his death. 
  

 35 

 (2) if a Participant does have a Spouse as of his Benefit Payment Date, the Participant’s benefits
shall be paid in the form of a Qualified Joint and Survivor Annuity which is the Actuarial Equivalent of the Participant’s vested Accrued Benefit. 
 (b) Waiver of Automatic Form of Payment. 
 (1) Participant’s Waiver Rights. At any time
during the applicable election period but not thereafter, a Participant described in Section 10.02 may elect in writing in a form acceptable to the Employee Benefits Committee to waive payment under the automatic form of payment described in
that Section and elect to receive payment in an optional form of payment described in Section 10.03. For the purposes hereof, the applicable election period shall be the 90-day period ending on the Benefit Payment Date. 
 (2) Revocation of Waivers. Any waiver and election delivered by the Participant to the Employee Benefits Committee in accordance with the
provisions of paragraph (1) hereof may be revoked by the Participant upon written notice delivered to the Employee Benefits Committee prior to the Benefit Payment Date. 
 (3) Spouse’s Consent. A married Participant’s waiver and election under paragraph (1) shall be effective only if: 
 (A) the Participant’s Spouse (or the Spouse’s legal guardian if the Spouse is legally incompetent) executes a written instrument whereby such
Spouse irrevocably consents to such election and to the specific form of payment and/or alternate Beneficiary elected by the Participant, and such instrument acknowledges the effect of the election to which the Spouse’s consent is given and is
witnessed by a notary public (prior to the Effective Date, or by a Plan representative); or 
 (B) the Participant (i) establishes to
the satisfaction of the Employee Benefits Committee that the consent of the Spouse cannot be obtained because the Spouse cannot be located or because of other circumstances that may be prescribed in applicable regulations, or (ii) furnishes a
court order to the Employee Benefits Committee establishing that the Participant is legally separated or has been abandoned (within the meaning of local law), unless a QDRO provides that the Spouse’s consent must be obtained. 
 (4) Explanations to Participants. The Employee Benefits Committee shall provide to each Participant, or the Spouse of a deceased Participant who
is entitled to a benefit pursuant to Section 9.02 no more than 90 days and no less than 30 days prior to his Benefit Payment Date, a written explanation of: 
  

 36 

 (A) the terms and conditions of all forms of payment available to the Participant or the Spouse of a
deceased Participant, including information explaining the relative values of each form of payment; 
 (B) the Participant’s or the
Spouse’s right to waive the automatic form of payment and the effect of such waiver; 
 (C) the rights of the Participant’s Spouse
with respect to such waiver; 
 (D) the right to revoke an election to receive an optional form of payment and the effect of such
revocation; and 
 (E) if the Participant has not attained Normal Retirement Age, the Participant’s right to defer commencement of his
benefit until his Normal Retirement Age. 
 (c) Commencement of Benefit Payments. The payment of the portion of a Participant’s
Accrued Benefit attributable to his AirTouch Annuity Pension Benefit shall commence as set forth in Appendix C. The payment of the portion of a Participant’s Accrued Benefit attributable to his UCN Annuity Pension Benefit and his Transition
Benefit Account shall normally begin no later than April 1 following the calendar year during which the Participant dies, suffers a Total Disability or reaches his Normal, Early or Postponed Retirement Date, as the case may be, and has
terminated employment with the Participating Employer or an Affiliated Company provided that no benefit having a present value of more than $5,000 ($3,500 prior to January 1, 1998) shall be paid prior to the Participant’s reaching Normal
Retirement Age without the consent of such Participant. In the event of the death of a Participant before his Early or Normal Retirement Date, no optional benefit shall be paid. 
 Section 10.03 Optional Forms of Benefit Distribution. 
 (a) Optional Forms. The optional benefits, all of Actuarial Equivalent value, which a Participant may elect pursuant to Section 10.02(b) are as follows: 
 (1) A married Participant may elect to receive the portion of his Accrued Benefit attributable to his UCN Annuity Pension Benefit and his Transition
Benefit Credit in the form of a straight life annuity. 
 (2) A Participant with a UCN Annuity Pension Benefit may elect to receive the
portion of his Accrued Benefit attributable to his UCN Annuity Pension Benefit in the form of a reduced benefit payable during the Participant’s life equal to 90 percent of the benefit to which he would otherwise be entitled with the provision
that after his death an income at one-half the rate of his reduced benefit payable 

  

 37 

 
to his designated parent during the parent’s life. If the parent predeceases the Participant, the benefits thereafter payable to the Participant shall
revert to the unreduced amount to which he would have otherwise been entitled. 
 (3) A Participant with a Transition Benefit Account may
elect to receive the portion of his Accrued Benefit attributable to his Transition Benefit Account in the form of a single sum cash payment that is the Actuarial Equivalent of his entire vested Transition Benefit Account. 
 (b) Death Prior to Benefit Payment Date. In the event of the death of a Participant prior to his Benefit Payment Date, the Participant’s
election hereunder shall be void and of no effect. 
 Section 10.04 Minimum Distribution Requirements. Notwithstanding anything
in the Plan to the contrary, the form and timing of all distributions under the Plan shall be in accordance with Treasury regulations under section 401(a)(9) of the Code and regulations thereunder, including the incidental death benefit requirements
of section 401(a)(9)(G) of the Code and regulations thereunder. 
 Section 10.05 Required Payment Date. Benefits payable by
reason of a Participant’s retirement (including deferred vested benefits) shall normally be paid as provided in applicable Sections of this Article and Article VIII, as applicable. Unless the Participant elects otherwise, retirement benefits
shall commence not later than the 60th day after the latest of the close of the Plan Year in which (i) occurs the date on which the Participant attains his Normal Retirement Age, (ii) occurs the tenth anniversary of the year in which the
Participant commenced participation in the Plan or (iii) the Participant has a Separation from Service. The failure of a Participant to apply for his benefit pursuant to Section 10.08 by the date prescribed in the preceding sentence shall
be deemed an election to defer payment to a later date. Notwithstanding the foregoing, the Participant’s Benefit Payment Date shall in no event be later than his Required Beginning Date. 
 Section 10.06 Accruals While Benefits Are In Pay Status. 
 (a) Annual Adjustment. In the event that a Participant is credited with a benefit accrual during and/or after the Plan Year in which the Participant attains Normal Retirement Age and after his Benefit Payment
Date, the amount of pension payable to the Participant as determined as of his Benefit Payment Date shall be adjusted annually as of each January 1 following his Benefit Payment Date which is prior to the date the Participant ceases to accrue
benefits under the Plan (or as of the date the Participant ceases to accrue benefits if before the next applicable January 1). 
 (b)
Amount of Adjustment. Such annual adjustment shall include any increase (but not any decrease) in the Participant’s Accrued Benefit, determined in 

  

 38 

 
accordance with Article VI, as a result of additional Interest Credits, Transition Benefit Credits and Compensation, (including, for any period that would
not constitute Suspension Service under Section 10.13(b)(2), an Actuarial Equivalent adjustment to such increase to reflect payment commencing after the Participant’s Normal Retirement Age) since the Participant’s Benefit Payment Date
or the last such annual adjustment, whichever applies. In addition, such annual adjustment shall be reduced (but not below zero) by the Actuarial Equivalent of any benefits paid to the Participant since his Benefit Payment Date during any period
that would have constituted Suspension Service under Section 10.13(b)(2) had the Participant not reached his Required Beginning Date, to the extent not previously taken into account under this Section; provided, however, that the amount, if
any, of the benefits paid to the Participant which exceeds the amount the Participant would have received if distribution had been made in the automatic form of benefits described in Section 10.02(a)(1) or (2), whichever applies, for such
Participant shall be disregarded in determining the Actuarial Equivalent of such benefits for purposes of the reduction described in this sentence. 
 (c) Form of Payment of Additional Accruals. In the event that the amount of pension payable to a Participant is adjusted pursuant to Section 10.06(a) and (b) hereof, any such additional amount shall be paid by increasing
the amount due in the form of benefit as in effect for previous payments made or commencing as of the Participant’s Benefit Payment Date. 
 Section 10.07 Distributed Contracts. The methods of benefit payout under any Contract distributed by the Trustee in payment of benefits hereunder shall be limited to the forms of distribution described in Article VIII and this
Article X. 
 Section 10.08 Application for Benefits. Except as provided in Sections 8.05, 10.01, and 15.01(c), benefit payments
shall commence when a properly written application for same is received by the Employee Benefits Committee. No payments shall be made for the period in which benefits would have been payable if the Participant, surviving spouse or other or
Beneficiary or Alternate Payee had made timely application therefor; provided, however, that, if the Participant’s Benefit Payment Date or, if the Participant has died, his Beneficiary’s Benefit Payment Date under Article IX, has been
delayed until after the Participant’s Normal Retirement Date solely by reason of failure to make application, and not by reason of Suspension Service as described in Section 10.13(b)(2), the benefit payable (i) to the Participant on
and after his Benefit Payment Date, or (ii) to the Participant’s Beneficiary pursuant to Article IX on and after the Beneficiary’s Benefit Payment Date (but not to any non-spouse Beneficiary), shall be equal to the Actuarial
Equivalent of the benefit the Participant or the Spouse would have received had benefits commenced on the Participant’s Normal Retirement Date, as determined to reflect the deferral of benefit commencement. 
 Section 10.09 Direct Rollovers. 
  

 39 

 (a) Effective January 1, 1993, in the event any payment or payments (excluding any amount not
includible in gross income) to be made under the Plan to a Participant, a Beneficiary who is the surviving Spouse of a Participant, or an Alternate Payee who is the spouse of former spouse of a Participant, would constitute an “eligible
rollover distribution,” such individual may request that, in lieu of payment to the individual, all or part of such eligible rollover distribution be transferred directly from the Fund to the trustee or custodian of an “eligible retirement
plan. 
 (b) Any such request shall be made in writing, in such form and subject to such procedures, requirements, and restrictions as may be
prescribed by the Employee Benefits Committee for such purpose pursuant to Treasury regulations, at such time in advance of the date such payment would otherwise be made as may be required by the Employee Benefits Committee. 
 (c) For purposes of this Section 10.09, “eligible rollover distribution” shall mean a distribution from the Plan, excluding (i) any
distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) over the life (or life expectancy) of the individual, the joint lives (or joint life expectancies) of the individual and the
individual’s designated Beneficiary, or a specified period of ten (10) or more years, (ii) any distribution to the extent such distribution is required under section 401(a)(9) of the Code, and (iii) any distribution to the extent
such distribution is not included in gross income. 
 (d) For purposes of this Section 10.09, “eligible retirement plan” shall
mean (i) an individual retirement account described in section 408(a) of the Code, (ii) an individual retirement annuity described in section 408(b) of the Code (other than an endowment contract), (iii) an annuity plan described in
section 403(a) of the Code, (iv) a qualified plan described under section 401(a) of the Code with a trust which is exempt from tax under section 501(a) of the Code, the terms of which permit the acceptance of rollover distributions; provided,
however, that (iii) and (iv) shall not apply to a Beneficiary who is the surviving spouse of a Participant. 
 Section 10.10
Non-Duplication of Benefits. Except to the extent provided otherwise in Appendix C, the benefits due any Participant on account of his most recent period of employment shall not duplicate any benefits due the same Participant under this Plan
on account of previous employment with a Participating Employer. 
 Section 10.11 Beneficiary Designation Right. Subject to the
rights of Spouses to survivor benefit payments as described in this Article and in Article IX and any other restrictions on Beneficiary designations contained in those Articles, each Participant may designate or change the previous designation of
the Beneficiary or Beneficiaries who shall receive benefits, if any, after his death. All Beneficiary designations shall be made by executing and filing with the Employee Benefits Committee a form prescribed by the Employee Benefits Committee and in
no other manner. The last such designation 

  

 40 

 
received by the Employee Benefits Committee shall be controlling over any testamentary or other disposition. The Employee Benefits Committee shall decide
what Beneficiaries have been validly designated and its conclusion shall be binding on all persons. In the event that the Participant is permitted to designate a Beneficiary and fails to do so, or in the event that the Participant is predeceased by
all designated Beneficiaries, the Participant shall be deemed to have designated as his Beneficiary the Participant’s Spouse or, if there is no Spouse, the Participant’s estate. 
 Section 10.12 Form and Content of Spouse’s Consent. A Spouse may consent to the designation of one or more Beneficiaries other than such
Spouse provided that such consent shall be in writing, must consent to the specific alternate Beneficiary or Beneficiaries designated (or permit Beneficiary designations by the Participant without the Spouse’s further consent), must acknowledge
the effect of such consent, and must be witnessed by a notary public. Such Spouse’s consent shall be irrevocable, unless expressly made revocable. The consent of a Spouse in accordance with this Section shall not be effective with respect to
any subsequent Spouse of the Participant. 
 Section 10.13 Suspension of Benefit Rules. 
 (a) Reemployment After Benefit Commencement. During any period of reemployment, any benefits that had commenced to be paid to the Participant
under the Plan prior to his reemployment shall continue to be paid under the Plan to the Participant in accordance with the Participant’s prior election and the terms of the Plan; provided, however, that any benefits that have already been
suspended under the terms of the applicable plan in effect as of December 31, 2000 shall continue to be suspended under such terms. 
 (b) Suspensions after Normal Retirement Date. No benefit shall be paid to any Participant under the Plan during any period of employment after his Normal Retirement Date with respect to any month in which the Participant has any
Suspension Service, as described in Section 10.13(b)(2) hereof in accordance with the following rules: 
 (1) Commencement of
Benefits. Subject to such notice requirements as may be prescribed by the Employee Benefits Committee, benefits suspended under this subsection (b) shall commence no later than the earliest of (i) the first day of the month next
following the Participant’s Separation from Service or (ii) the first day of the month following the month in which he first fails to have Suspension Service as described in Section 10.13(b)(2). The benefit payments shall be
calculated to include years of Transition Benefit Credits (if any) credited during such period of Suspension Service, and no actuarial or other adjustment shall be made to the Participant’s benefit so as to reflect payments suspended with
respect to those months during which such Participant was credited with Suspension Service. In addition, such payment shall be offset by (i) any benefit paid with respect to a month in which the 

  

 41 

 
Participant had Suspension Service where the amount so paid has not been returned or repaid to the Fund by the Participant as described in
Section 10.13(b)(3) and (ii) the Actuarial Equivalent of the benefits paid prior to the Participant’s Normal Retirement Date. 
 (2) Suspension Service. A Participant shall be deemed to have Suspension Service after his Normal Retirement Date, but prior to his Required Beginning Date, in any month in which he receives payment for any Hours of Service performed
on each of eight (8) or more days (or separate shifts). 
 (3) Offset. To the extent that the Plan has paid benefits to a
Participant with respect to any month in which he has Suspension Service as described in Section 10.13(b)(2) which amounts have not previously been recovered by the Plan, the Plan shall defer commencement of benefits under
Section 10.13(b)(1) hereof for a period of two (2) calendar months, or until the amounts paid with respect to months in which the Participant has Suspension Service have been recovered (without interest), whichever is the first to occur.
If, at the end of the said two-month period there remains an unrecovered amount which was paid to the Participant during or with respect to a period of Suspension Service, such amount shall be recovered (without interest) by the Plan by reducing
each benefit payment due the Participant or the Participant’s Spouse or other Beneficiary after benefit commencement by the lesser of: 
 (A) the excess of the amount of the benefits paid to the Participant with respect to months in which the Participant had Suspension Service over the amount of such benefits which have been restored to, or recovered by, the Plan, or

 (B) 25% of the Participant’s monthly benefit payments. 
 (4) Notifications. No payment shall be withheld or suspended by the Plan pursuant to this subsection (b) until the Plan has notified the
Participant by personal delivery or first class mail of the fact that such withholding or suspension is occurring or will occur. Such notification will contain a detailed description of the specific reasons why benefit payments are being suspended
or withheld, a general description of the Plan provisions relating to the suspension of benefit payments, a copy of such provisions, and a statement that the applicable Department of Labor regulations governing suspensions of benefits may be found
at Title 29, Code of Federal Regulations, §2530.203-3. The notification shall also advise the Participant to whom directed of the Plan’s procedure for affording a review of the suspension of benefits. In the event any payment is
withheld or suspended prior to the provision of notice as described in thins Section, the Participant’s benefit payable thereunder shall be actuarially increased, using the Plan’s factors for determining Actuarial Equivalent benefits, to
compensate for such withholding or suspension. 
  

 42 

 ARTICLE XI 
 PROVISIONS RELATING TO TOP-HEAVY PLANS 
 Section 11.01 Definitions. For purposes of this
Article XI, the following terms shall have the following meanings: 
 (a) “Aggregation Group” shall mean the group of qualified
plans sponsored by a Participating Employer or by an Affiliated Company formed by including in such group (i) all such plans in which a Key Employee participates in the Plan Year containing the Determination Date, or any of the four
(4) preceding Plan Years, including any frozen or terminated plan that was maintained within the five-year period ending on the Determination Date, (ii) all such plans which enable any plan described in clause (i) to meet the
requirements of either section 401(a)(4) or section 410 of the Code, and (iii) such other qualified plans sponsored by a Participating Employer or an Affiliated Company as the Company elects to include in such group, as long as the group,
including those plans electively included, continues to meet the requirements of sections 401(a)(4) and 410 of the Code. 
 (b)
“Determination Date” shall mean the last day of the preceding Plan Year or, in the case of the first Plan Year, the last day of such Plan Year. 
 (c) “Key Employee” shall mean a person employed or formerly employed by a Participating Employer or an Affiliated Company who, during the Plan Year or during any of the preceding four (4) Plan Years,
was any of the following: 
 (1) An officer of a Participating Employer having an annual Compensation of more than 50% of the amount in
effect under section 415(b)(1)(A) of the Code for the Plan Year. The number of persons to be considered officers in any Plan Year and the identity of the persons to be so considered shall be determined pursuant to the provisions of section 416(i) of
the Code and the regulations published thereunder. 
 (2) One of the 10 Employees who owns (or is considered as owning under the attribution
rules set forth at section 318 of the Code and the regulations thereunder) the largest interest in a Participating Employer or an Affiliated Company, provided that no person shall be considered a Key Employee under this paragraph (2) if his
annual Compensation is not greater than the limitation in effect for such Plan Year under section 415(c)(1)(A) of the Code, nor shall any person be considered a Key Employee under this paragraph (2) if his ownership interest in the Plan Year
being tested and the preceding four (4) Plan Years was at all times less than 1/2% in value of any of the entities forming the Participating Employers and the Affiliated Companies. 
 (3) A five-percent (5%) owner of a Participating Employer or an Affiliated Company within the meaning of section 416(i) of the Code. 
  

 43 

 (4) A person who is both an Employee whose annual Compensation exceeds $150,000 and who is a one-percent
(1%) owner of a Participating Employer or an Affiliated Company within the meaning of section 416(i) of the Code. 
 The beneficiary of any deceased
Participant who was a Key Employee shall be considered a Key Employee for the same period as the deceased Participant would have been so considered. 
 (d) “Key Employee Ratio” shall mean the ratio (expressed as a percentage) for any Plan Year, calculated as of the Determination Date with respect to such Plan Year, determined by dividing the amount
described in paragraph (1) hereof by the amount described in paragraph (2) hereof, after deduction from both such amounts the amount described in paragraph (3) hereof. 
 (1) The amount described in this paragraph (1) is the sum of (i) the aggregate of the present value of all accrued benefits of Key Employees
under all qualified defined benefit plans included in the Aggregation Group, (ii) the aggregate of the balances in all of the accounts standing to the credit of Key Employees under all qualified defined contribution plans included in the
Aggregation Group, and (iii) the aggregate amount distributed from all plans in such Aggregation Group to or on behalf of any Key Employee during the period of five (5) Plan Years ending on the Determination Date. 
 (2) The amount described in this paragraph (2) is the sum of (i) the aggregate of the present value of all accrued benefits of all
Participants under all qualified defined benefit plans included in the Aggregation Group, (ii) the aggregate of the balances in all of the accounts standing to the credit of all Participants under all qualified defined contribution plans
included in the Aggregation Group, and (iii) the aggregate amount distributed from all plans in such Aggregation Group to or on behalf of any Participant during the period of five (5) Plan Years ending on the Determination Date.

 (3) The amount described in this paragraph (3) is the sum of (i) all rollover contributions (or similar transfers) to plans
included in the Aggregation Group initiated by an Employee and made from a plan sponsored by an employer which is not a Participating Employer or Affiliated Company, (ii) with respect to Plan Years beginning after December 31, 1984, any
amount that would have been included under paragraph (1) or (2) hereof with respect to any person who has not performed services for any Participating Employer at any time during the five-year period ending on the Determination Date, and
(iii) any amount that is included in paragraph (2) hereof for, on behalf of, or on account of, a person who is a Non-Key Employee as to the Plan Year of reference but who was a Key Employee as to any earlier Plan Year. 
  

 44 

 The present value of accrued benefits under any defined benefit plan shall be determined on the basis of
the assumptions described in Appendix A or Appendix C, as applicable, and, effective for Plan Years beginning after December 31, 1986, under the method used for accrual purposes for all plans maintained by all Participating Employers and
Affiliated Companies if a single method is used by all such plans, or otherwise, the slowest accrual method permitted under section 411(b)(1)(C) of the Code. 
 (e) “Non-Key Employee” shall mean any Employee or former Employee who is not a Key Employee as to that Plan Year, or a beneficiary of a deceased Participant who was a Non-Key Employee. 
 (f) “Testing Period Average Compensation” shall mean the average of the Participant’s Compensation over the testing period consisting of
the five (5) consecutive Plan Years during which the Participant was in the employ of a Participating Employer (whether or not such Plan Years were years during any part of which he was an Active Participant) yielding the highest such average,
omitting from the Plan Years considered (i) Plan Years within which the Participant was not credited with a year of Vesting Service, (ii) Plan Years beginning before January 1, 1984, and (iii) Plan Years beginning after the close
of the last Plan Year in which the Plan was Top-Heavy. If there be fewer than five (5) consecutive Plan Years in the testing period as described, the testing period shall be considered to consist of all such years as would be included if the
“consecutive” requirement did not apply (to a maximum of the lesser of (i) all such years, if fewer than five (5), or (ii) five (5) such years). 
 Section 11.02 Determination of Top-Heavy Status. The Plan shall be deemed “top-heavy” as to any Plan Year if, as of the Determination Date with respect to such Plan Year, either of the following
conditions are met: 
 (a) the Plan is not part of an Aggregation Group and the Key Employee Ratio, determined by substituting the
“Plan” for the “Aggregation Group” each place it appears in Section 11.01(d), exceeds 60%, or 
 (b) the Plan is
part of an Aggregation Group, and the Key Employee Ratio of such Aggregation Group exceeds 60%. 
 (c) Adjustment in Benefit
Limitations. Effective for Limitation Years beginning prior to January 1, 2000, if the Plan is “top-heavy” within the meaning of Section 11.02, the dollar limitations in the denominator of the defined benefit fraction and
defined contribution fraction as defined in section 415(e) of the Code shall be multiplied by 100% rather than 125%. 
 Section 11.03
Top-Heavy Plan Minima. 
  

 45 

 (a) General Rule. If the Plan is “top-heavy” in any Plan Year, the minimum Accrued
Benefit under the Plan for any Active Participant who is a Non-Key Employee (other than a Participant who was a Key Employee as to any earlier Plan Year) and who has completed 1,000 Hours of Service during such Plan Year (regardless of whether his
employment terminates during such Plan Year) shall be the lesser of: 
 (1) 2% of the Participant’s Testing Period Average
Compensation, multiplied by the number of Plan Years during which the Participant completed at least 1,000 Hours of Service (excluding Plan Years beginning prior to January 1, 1984, Plan Years in which the Plan is not “top-heavy” and
Plan Years which would be disregarded by reason of a Break in Service), or 
 (2) 20% of the Participant’s Testing Period Average
Compensation. 
 (b) Nonduplication Exception. The provisions of Section 11.03(a) shall not apply with respect to a Participant
in a particular Plan Year if, with respect to that Plan Year: 
 (1) such Participant was an active participant in a qualified defined
benefit pension plan sponsored by a Participating Employer or by an Affiliated Company under which plan the Participant’s accrued benefit is not less than the benefit described in Section 11.03(a), treating such other defined benefit
pension plan as a “top-heavy” plan and treating all such defined benefit pension plans constituting an Aggregation Group as a single plan; 
 (2) such Participant was an active participant in a qualified defined contribution plan sponsored by a Participating Employer or by an Affiliated Company under which plan the amount of the employer contribution
(including reallocable forfeitures) allocable to the account of the Participant for the accrual computation period of such plan ending with or within the Plan Year, (exclusive of amounts by which the Participant’s compensation was reduced
pursuant to a salary reduction agreement or similar arrangement), is not less than 5% of the Participant’s Compensation; or 
 (3) the
exception provided under this Section 11.03(b) shall apply on a prorated basis where the Participant also participates in another qualified plan of a Participating Employer or of an Affiliated Company, but where such other plan only partially
satisfies the requirements of paragraphs (1) or (2) hereof. 
 Section 11.04 No Suspension of Benefits. Notwithstanding
any other provision of the Plan, the payment of a Participant’s benefits shall not be suspended during the Participant’s reemployment during any period in which the Plan is “top-heavy.” 
  

 46 

 Section 11.05 Multiple Employer Plan. The provisions of this Article shall be applied
separately with respect to each “controlled group” and benefits with respect to Employees of such “controlled group” in accordance with Treasury Regulations section 1.416-1, G-2. For purposes of this Section, “controlled
group” shall mean a group of entities consisting of all Participating Employers that are Affiliated Companies with respect to each other and all other entities that are Affiliated Companies with respect to such Participating Employers,
determined in accordance with the aggregation rules described in sections 414(b), (c), (m) and (o) of the Code. 
  

 47 

 ARTICLE XII 
 CONTRIBUTIONS 
 Section 12.01 Employer Contributions. Subject to the provisions of
Section 12.05, the Participating Employers shall contribute such amounts as are necessary to satisfy the minimum funding standards required pursuant to ERISA and section 412 of the Code, as from time to time amended. No contributions shall be
required for any year if the Participating Employers applied for and receive a waiver of the funding standards for that year. In the event that a partial waiver is granted, no contribution shall be required of the Participating Employers in excess
of the amount stipulated in such partial waiver. Participating Employers shall have the right, but not the obligation, to contribute such additional amounts as they, in their sole discretion, deem desirable in any year. All Participating Employer
contributions shall be paid to the Trustee(s). All forfeitures arising under the Plan shall be applied to reduce Participating Employer contributions. Each contribution made by a Participating Employer pursuant to the provisions of this Plan is made
expressly contingent upon the deductibility thereof for federal income tax purposes for the fiscal year with respect to which such contribution is made. 
 Section 12.02 Participant Contributions. No contributions shall be required or permitted of Participants under the Plan. 
 Section 12.03 Expenses of Administration. All expenses of administration of this Plan shall be paid from the Fund unless a Participating Employer, in its sole discretion, determines to pay them directly.

 Section 12.04 Contracts. If Contracts are purchased for the funding of death or retirement benefits, such Contracts shall be
purchased from such legal reserve life insurance companies as may be approved by the Employee Benefits Committee. A Trustee shall be the sole owner and beneficiary of each such Contract unless and until such time as the Contract is distributed to a
Participant, Spouse or other Beneficiary in satisfaction of liabilities to such party under the Plan or is transferred to the Participant, Spouse, other Beneficiary or Alternate Payee for its fair market value. All dividends payable with respect to
any such Contract prior to the distribution of that Contract to a Participant, Spouse, other Beneficiary or Alternate Payee shall be applied to reduce the Participating Employers’ contribution to the Plan. The Trustee is empowered to borrow
against the cash surrender values or loan values of any Contracts held by it for the purpose of paying premiums on such Contracts or for the general purposes of the Fund, but if such borrowing occurs, it shall be done proportionately among the
several Contracts so held and repayment of the borrowed amounts by the Trustee shall be prorated to avoid discrimination. 
 Section 12.05 Discontinuance. Notwithstanding any other provision of this Article XII or of the Plan, the Company shall have the right to terminate the Plan in 

  

 48 

 
accordance with the provisions of Article XVII, and no provision of this Article XII shall be deemed a modification or abridgment of rights reserved to or by
the Company elsewhere in the Plan. 
 Section 12.06 Sole Source of Benefits. The Fund shall be the sole source for the provision
of benefits under the Plan. Neither a Participating Employer nor any other person or entity shall be liable therefor. 
 Section 12.07
Commingling of Assets. All assets of the Plan may be commingled for investment purposes with the assets of any other qualified plan of a Participating Employer or an Affiliated Company and may be held as a single fund under one or more
Funding Vehicles, provided that the value of each plan’s assets can be determined at any time. The value of the assets held in such single fund shall be determined by the Trustee(s) and the assets allocable to each such plan shall be determined
by the enrolled actuary appointed by the Employee Benefits Committee. The enrolled actuary shall communicate such determination to the Participating Employers, the Named Fiduciaries and the Trustee(s). The assets allocable to each such plan shall in
no event be used for the benefit of participants in such other plans. 
  

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 ARTICLE XIII 
 EMPLOYEE BENEFITS COMMITTEE 
 Section 13.01 Appointment and Tenure. The Plan shall be
administered by the “Employee Benefits Committee” or such other committee or individual appointed by the Chairperson of the Employee Benefits Committee. The Chairperson of the Employee Benefits Committee shall be appointed by the Human
Resources Committee of the Company. The Chairperson of the Employee Benefits Committee shall have the authority to determine the number of voting members of the Employee Benefits Committee and appoint such members from time to time. The Chairperson
of the Employee Benefits Committee shall also have the authority to appoint, as appropriate, counsel and secretary to the Employee Benefits Committee. Any Employee Benefits Committee member may resign by delivering his written resignation to the
Chairperson at least 30 days in advance of such resignation or such shorter time agreed thereto by the Chairperson and the member. 
 Section 13.02 Meetings; Majority Rule. Any and all acts of the Employee Benefits Committee taken at a meeting shall be by a majority of its members with minutes being recorded for each meeting. Such minutes shall be made
available to any member of the Employee Benefits Committee upon request. The Employee Benefits Committee may also act by unanimous consent in writing without the formality of convening a meeting. Either the Chairperson of the Employee Benefits
Committee or secretary may execute any certificate or other written direction on behalf of the Employee Benefits Committee. A member of the Employee Benefits Committee who is a Participant shall not vote on any question relating specifically to
himself. In the event that the Employee Benefits Committee’s vote is equally divided on a claim for benefits, such vote will be treated as a vote by the Employee Benefits Committee in favor of the claimant. 
 Section 13.03 Delegation. The Employee Benefits Committee may, by unanimous consent, delegate the specific authority and responsibility for
those duties listed in Section 13.04 and other purely ministerial duties to one or more of its members. The member or members so designated shall be solely liable, jointly and severally, for their acts or omissions with respect to such
delegated authority and responsibilities. Members not so designated, except as otherwise provided by applicable provisions of ERISA, shall be relieved from liability for any act or omission resulting from such delegation. 
 Section 13.04 Authority and Responsibility of the Employee Benefits Committee. The Employee Benefits Committee shall be the Plan
“administrator” as such term is defined in section 3(16) of ERISA, and as such shall have the following duties and responsibilities: 
  

 50 

 (a) to adopt and enforce such rules and regulations and prescribe the use of such forms as may be
necessary to carry out the provisions of the Plan; 
 (b) to maintain and preserve records relating to Participants, Vested Participants, and
their Beneficiaries and Alternate Payees; 
 (c) to prepare and furnish to Participants, Beneficiaries and Alternate Payees all information
and notices required under federal law or the provisions of this Plan; 
 (d) to prepare and file or publish with the Secretary of Labor, the
Secretary of the Treasury, their delegates and all other appropriate government officials all reports and other information required under law to be so filed or published; 
 (e) to provide directions to the Trustee(s) (and to the Plan’s actuary when appropriate) with respect to the purchase of life insurance or
Contracts, methods of benefit payment, valuations at dates other than annual valuation dates and on all other matters where called for in the Plan or requested by the Trustee(s); 
 (f) to determine all questions of Employees’ eligibility for and the amount of any Plan benefits and of the status of rights of Participants,
Beneficiaries and Alternate Payees, to make factual determinations, to construe and interpret the provisions of the Plan, to correct defects, to resolve ambiguities and inconsistencies therein and to supply omissions thereto; 
 (g) to compute and certify to the Trustee the amount and manner of payment of benefits to which Participants, surviving Spouses, other Beneficiaries and
Alternate Payees may become entitled; 
 (h) to engage assistants and professional advisers; 
 (i) to arrange for bonding, if required by law, or as required by general policies established by the Board; 
 (j) to review benefit claim appeals, except to the extent another committee or third-party administrator has been appointed by the Chairperson to serve
as the appeals fiduciary to review and decide such benefit claim appeals; 
 (k) to provide procedures for determination of claims for
benefits and to establish rules, not inconsistent with the provisions or purposes of the Plan, as it may deem necessary or desirable for the proper administration of the Plan or transaction of its business; 
 (l) to retain records on elections and waivers by Participants, their surviving Spouses and their Beneficiaries and Alternate Payees; 
  

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 (m) to determine whether any domestic relations order constitutes a QDRO and to take such action as the
Employee Benefits Committee deems appropriate in light of such domestic relations order; 
 (n) to retain records on elections and waivers by
Participants, their spouses and their Beneficiaries, and Alternate Payees; 
 (o) to select an independent qualified public accountant to
examine a Trustee’s accounts and render an opinion; 
 (p) to appoint an Investment Manager who is other than the Trustee, which
Investment Manager may be a bank or an investment advisor registered with the Securities and Exchange Commission under the Investment Advisors Act of 1940. Such Investment Manager, if appointed, shall have sole discretion in the investment of Plan
assets, subject to the funding policy. The Employee Benefits Committee shall review at regular intervals no less frequently than annually, the performance of such Investment Manager and shall re-evaluate the appointment of such Investment Manager.
After the Employee Benefits Committee has appointed an Investment Manager and has received a written notice of acceptance of his responsibility, the fiduciary responsibility with respect to investment of Plan assets shall be considered as the
responsibility of the Investment Manager; 
 (q) to determine and communicate in writing to the fiduciary responsible for investment of Plan
assets the funding policy for the Plan. The funding policy shall set forth the Plan’s short-range and long-range financial needs, so that said fiduciary may coordinate the investment of Plan assets with the Plan’s financial needs all as
further set forth herein; 
 (r) to prepare for review and action by the Board, and implement on the instruction of the Board, all other
amendments, modifications and termination of the Plan; 
 (s) to prepare and deliver to the Board such information and such reports as are
requested by the Board or as, in the judgement of the Employee Benefits Committee, should be brought to the attention of the Board; 
 (t) to
perform such additional functions as may be specifically assigned to it or delegated to it by the Board or the Human Resources Committee; and 
 (u) to adopt routine amendments to the Plan as provided under Section 16.01(b); and 
 (v) to approve participation in the Plan
of additional Participating Employers. 
  

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 Any authority delegated both to the Employee Benefits Committee under this Section 13.04 and to the Company under
Section 14.03 may be exercised by either such party independently of the other. 
 Section 13.05 Reporting and Disclosure.
The Employee Benefits Committee shall keep all individual and group records relating to Participants, Beneficiaries and Alternate Payees, and all other records necessary for the proper operation of the Plan. Such records shall be made available to
the Participating Employers and to each Participant, Beneficiary and Alternate Payee for examination during normal business hours except that a Participant, Beneficiary or Alternate Payee shall examine only such records as pertain exclusively to the
examining Participant, Beneficiary or Alternate Payee and those records and documents relating to all Participants generally. The Employee Benefits Committee shall prepare and shall file as required by law or regulation all reports, forms, documents
and other items required by ERISA, the Code, and every other relevant statute, each as amended, and all regulations thereunder. This provision shall not be construed as imposing upon the Employee Benefits Committee the responsibility or authority
for the preparation, preservation, publication or filing of any document required to be prepared, preserved or filed by the Trustee or by any other Named Fiduciary to whom such responsibilities are delegated by law or by this Plan. 
 Section 13.06 Construction of the Plan. The Employee Benefits Committee shall take such steps as are considered necessary and appropriate to
remedy any inequity that results from incorrect information received or communicated in good faith or as the consequence of an administrative error. The Employee Benefits Committee shall have full discretionary power and authority to interpret the
Plan, to make benefit eligibility determinations, to make factual determinations and to determine all questions arising in the administration, interpretation and application of the Plan. The Employee Benefits Committee shall correct any defect,
reconcile any inconsistency or ambiguity, or supply any omission with respect to the Plan. All such corrections, reconciliations, interpretations and completions of Plan provisions shall be final, binding and conclusive upon the parties, including
the Participating Employers, the Employees, their families, dependents, Beneficiaries and any Alternate Payees. 
 Section 13.07
Compensation of the Employee Benefits Committee. The Employee Benefits Committee shall serve without compensation for its services as such, but all reasonable expenses of the Employee Benefits Committee shall be proper charges to the Fund and
shall be paid therefrom unless a Participating Employer, in its sole discretion, determines to pay them directly. 
 Section 13.08
Domestic Relations Orders. 
 (a) In the event that the Actuarial Equivalent single sum value of the benefit payable to an Alternate
Payee under a QDRO does not exceed $5,000 ($3,500 prior to January 1, 1998), such amount shall be paid to an Alternate Payee in a single sum 
  

 53 

 
as soon as practicable following the Employee Benefits Committee’s receipt of the order and verification of its status as a QDRO. 
 (b) Except as provided in this subsection (b), benefits payable to an Alternate Payee shall not continue beyond the lifetime of the Alternate Payee. In
particular, no Alternate Payee shall have the right with respect to any benefit payable by reason of a QDRO to (i) designate a beneficiary with respect to amounts payable under the Plan, except in the case of a QDRO providing a benefit to the
Alternate Payee of a portion of each payment made to the Participant from the Plan, as, when and if payable, but only to the extent that the beneficiary legally could be an alternate payee (as defined in section 414(p) of the Code) under a QDRO with
respect to the Participant’s benefit, (ii) provide survivorship benefits to a spouse or dependent of such Alternate Payee or to any other person, spouse, or dependent, or (iii) transfer rights under the QDRO by will or by state law of
intestacy. 
 (c) None of the payments, benefits or rights of any Alternate Payee shall be subject to any claim of any creditor, and, in
particular, to the fullest extent permitted by law, all such payments, benefits and rights shall be free from attachment, garnishment, trustee’s process, or any other legal or equitable process available to any creditor of such Alternate Payee.
No Alternate Payee shall have the right to alienate, anticipate, commute, pledge, encumber or assign any of the benefits or payments which he may expect to receive, contingently or otherwise, under the Plan. 
 (d) Alternate Payees shall not have any right to exercise any election, privilege, option or direction rights of the Participant under the Plan except as
specifically provided in the QDRO or receive communications with respect to the Plan except as specifically provided by law, regulation or the QDRO. 
 (e) Each Alternate Payee shall advise the Employee Benefit Committee in writing of each change of his name, address or marital status, and of each change in the provisions of the QDRO or of any circumstances set forth
therein which may be material to the Alternate Payee’s entitlement to benefits thereunder or the amount thereof. Until such written notice has been provided to the Employee Benefit Committee, the Employee Benefits Committee shall be
(i) fully protected in not complying with, and in conducting the affairs of the Plan in a manner inconsistent with the information set froth in the notice, and (ii) required to act with respect to such notice prospectively only, and then
only to the extent provided for in the QDRO. The Employee Benefits Committee shall not be required to modify or reverse any payment, transaction or application of funds occurring before the receipt of any notice that would have affected such
payment, transaction or application of funds, nor shall the Employee Benefits Committee or any other party be liable for any such payment, transaction or application of funds. 
  

 54 

 (f) Except as specifically provided for in the QDRO, an Alternate Payee shall have no right to interfere
with the exercise by the Participant or by any beneficiary of their respective rights, privileges and obligations under the Plan. 
  

 55 

 ARTICLE XIV  
 ALLOCATION AND DELEGATION OF AUTHORITY 
 Section 14.01 Authority and Responsibilities of the
Employee Benefits Committee. The Employee Benefits Committee shall have the authority and responsibilities imposed by Article XIII hereof. With respect to the said authority and responsibility, the Employee Benefits Committee shall be a
“Named Fiduciary,” and as such, shall have no authority and responsibility other than as granted in the Plan, or as imposed by law. 
 Section 14.02 Authority and Responsibilities of a Trustee. A Trustee shall be the “Named Fiduciary” with respect to investment of the portion of the Fund assets for which it is responsible and shall have the powers and
duties set forth in the Trust Agreement. The Trustee shall keep complete and accurate accounts of all of the assets of, and the transactions involving, the Fund. All such accounts shall be open to inspection by the Employee Benefits Committee during
normal business hours. 
 Section 14.03 Authority and Responsibilities of the Company. The Company, acting through its Board,
shall have certain powers under the Plan, to be executed or undertaken in a non-fiduciary capacity, including: 
 (a) to appoint the
Trustee(s); 
 (b) to amend or terminate the Trust Agreement(s) and settle the account(s) of the Trustee(s) and to remove a Trustee and upon
such removal or upon the resignation of the Trustee, to appoint a successor; 
 (c) to appoint an Investment Manager(s) (or to refrain from
such appointment), and to terminate such appointment (including appointments made by the Employee Benefits Committee) and upon such termination or upon resignation of the Investment Manager(s), to appoint a successor, to amend the separate
agreement(s), which shall be entered into with the Investment Manager(s) and either increase or decrease the portion of the Fund which shall be managed by the Investment Manager(s) (including those appointed by the Employee Benefits Committee);

 (d) to transfer a portion of the Plan assets held by one Trustee to another Trustee; and 
 (e) to select an independent qualified public accountant to examine a Trustee’s accounts and records and render an opinion. 
  

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 Any authority delegated both to the Company under this Section 14.03 and the Employee Benefits Committee under
Section 13.04 may be exercised by either such party independently of the other. 
 Section 14.04 Limitations on Obligations of
Named Fiduciaries. No Named Fiduciary shall have authority or responsibility to deal with matters other than as delegated to it under this Plan, under the Trust Agreement, or by operation of law. Except as provided by section 405 of ERISA, a
Named Fiduciary shall not in any event be liable for breach of fiduciary responsibility or obligation by another fiduciary (including Named Fiduciaries) if the responsibility or authority of the act or omission deemed to be a breach was not within
the scope of the said Named Fiduciary’s authority or delegated responsibility. The determination of any Named Fiduciary as to any matter involving its responsibilities hereunder shall be conclusive and binding on all persons. 
 Section 14.05 Designation and Delegation. Each Named Fiduciary may designate other persons to carry out such of its responsibilities
hereunder for the operation and administration of the Plan as it deems advisable and delegate to the persons so designated such of its powers as it deems necessary to carry out such responsibilities. Such designation and delegation shall be subject
to such terms and conditions as the Named Fiduciary deems necessary or proper. Any action or determination made or taken in carrying out responsibilities hereunder by the persons so designated by the Named Fiduciary shall have the same force and
effect for all purposes if such action or determination had been made or taken by such Named Fiduciary. 
 Section 14.06 Reports to
Board. As deemed necessary or proper, but in any event at least once during each Plan Year, each Named Fiduciary shall report to the Board on the operation and administration of the Plan. 
 Section 14.07 Engagement of Assistants and Advisers. Any Named Fiduciary shall have the right to hire, at the expense of the Fund, such
professional assistants and consultants as it, in its sole discretion, deems necessary or advisable. The Named Fiduciaries shall be entitled to rely, and shall be fully protected in any action or determination or omission taken or made or omitted in
good faith in so relying, upon any opinions, reports or other advice which is furnished by counsel or other specialist engaged for that purpose or upon any valuation certificate or report furnished by a Trustee. 
 Section 14.08 Payment of Expenses. The expenses incurred by the Named Fiduciaries in connection with the operation of the Plan, including,
but not limited to, the expenses incurred by reason of the engagement of professional assistants and consultants, shall be expenses of the Plan and shall be payable from the Fund at the direction of the Employee Benefits Committee. The Participating
Employers shall have the option, but not the obligation, to pay any such expenses, in whole or in part, and by so doing, to relieve the Fund from the obligation of bearing such expenses. Payment of any such 

  

 57 

 
expenses by the Participating Employers on any occasion shall not bind the Participating Employers to thereafter pay any similar expenses. 
 Section 14.09 Bonding. The Employee Benefits Committee shall arrange for such bonding as is required by law, but no bonding in excess of the
amount required by law shall be considered required by the Plan. 
 Section 14.10 Indemnification. Each person, other than a
Trustee, who is a Named Fiduciary, or who is a member of a committee or board comprising a Named Fiduciary, shall be indemnified by the Company against costs, expenses and liabilities (other than amounts paid in settlement to which the Company do
not consent) reasonably incurred by him in connection with any action to which he may be a party by reason of his service as a Named Fiduciary except in relation to matters as to which he shall be adjudged in such action to be personally guilty of
negligence, willful misconduct or lack of good faith in the performance of his duties. The foregoing right to indemnification shall be in addition to such other rights as the person may enjoy as a matter of law or by reason of insurance coverage of
any kind, but shall not extend to costs, expenses and/or liabilities otherwise covered by insurance or that would be so covered by any insurance then in force if such insurance contained a waiver of subrogation. Rights granted hereunder shall be in
addition to and not in lieu of any rights to indemnification to which the person may be entitled pursuant to the bylaws of the Company. Service as a Named Fiduciary shall be deemed in partial fulfillment of the person’s function as an employee,
officer and/or director of a Participating Employer, if he serves in that capacity as well as in the role of Named Fiduciary. 
  

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 ARTICLE XV  
 BENEFIT APPLICATIONS AND CLAIMS PROCEDURES 
 Section 15.01 Application for Benefits.

 (a) Each Participant, surviving Spouse (in the case of a benefit described in Section 9.02), Beneficiary or Alternate Payee believing
himself or herself eligible for benefits under the Plan shall apply for such benefits by completing and filing with the Employee Benefits Committee an application for benefits on a form supplied by such Committee. Before the date on which benefit
payments commence, each such application must be supported by such information and data as the Employee Benefits Committee deems relevant and appropriate. Evidence of age, marital status (and, in the appropriate instances, health, death or
disability), and location of residence shall be required of all applicants for benefits. 
 (b) In the event that a Participant, a surviving
Spouse, or Alternate Payee fails to apply to the Employee Benefits Committee by the Participant’s Normal Retirement Age or the date of the Participant’s Separation from Service, if later, or a Beneficiary fails to apply within six months
after the Participant’s death, the Employee Benefits Committee shall make diligent efforts to locate such individual and obtain such application. A Plan benefit shall be deemed forfeited in the event that the Employee Benefits Committee is
unable to locate the Participant, surviving Spouse, or other Beneficiary, or Alternate Payee to whom payment is due; provided, however, that such benefit shall be reinstated if a claim is later made by a party to whom the benefit is properly
payable. No payments shall be made for the period in which benefits would have been payable if the individual had made timely application therefor. 
 (c) In the event (i) the Participant, surviving Spouse, or Alternate Payee fails to make application by the end of the calendar year in which the date described in Section 15.01(b) occurred, or (ii) the Beneficiary fails to
make application by December 31 of the year following the year in which the Participant’s death occurs, subject to Section 18.11 of the Plan, the Employee Benefits Committee may commence distribution as of such date without such
application. 
 Section 15.02 Appeals of Denied Claims for Benefits. In the event that any claim for benefits is denied in whole
or in part, the Participant, Beneficiary or Alternate Payee whose claim has been so denied shall be notified of such denial in writing by the claims fiduciary designated by the Chairperson of the Employee Benefits Committee. The notice advising of
the denial shall specify the reason or reasons for denial, make specific reference to pertinent Plan provisions, describe any additional material or information necessary for the claimant to perfect the claim (explaining why such material or
information is needed), and shall advise the Participant, Beneficiary or Alternate Payee, 

  

 59 

 
as the case may be, of the procedure for the appeal of such denial. All appeals shall be made by the following procedure: 
 (a) The Participant, Beneficiary or Alternate Payee whose claim has been denied shall file with the appeals fiduciary designated by the Chairperson of
the Employee Benefits Committee a notice of desire to appeal the denial. Such notice shall be filed within sixty (60) days of notification by the claims fiduciary of claim denial, shall be made in writing, and shall set forth all of the facts
upon which the appeal is based. Appeals not timely filed shall be barred. Notwithstanding the foregoing, if within 90 days of filing a claim for benefits under the Plan, the Participant, Beneficiary or Alternate Payee neither receives a notice of
denial of a claim or a notice that additional time is required to review the claim, such individual may assume that the claim has been denied and may file with the appeals fiduciary a notice of desire to appeal the denial. 
 (b) The appeals fiduciary shall consider the merits of the claimant’s written presentations, the merits of any facts or evidence in support of the
denial of benefits, and such other facts and circumstances as the appeals fiduciary shall deem relevant. 
 (c) The appeals fiduciary shall
ordinarily render a determination upon the appealed claim within sixty (60) days after its receipt which determination shall be accompanied by a written statement as to the reasons therefor. However, in special circumstances the appeals
fiduciary may extend the response period for up to an additional sixty (60) days, in which event it shall notify the claimant in writing prior to commencement of the extension. The determination so rendered shall be binding upon all parties.

  

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 ARTICLE XVI  
 AMENDMENT OF PLAN 
 Section 16.01 Amendment. 
 (a) The provisions of the Plan may be amended at any time and from time to time by the Board, provided, however, that: 
 (1) No amendment shall increase the duties or liabilities of the Employee Benefits Committee or a Trustee without the consent of that party; 

(2) No amendment shall decrease the vested percentage of any Participant’s Accrued Benefit, nor result in the elimination or reduction of a
benefit “protected” under section 411(d)(6) of the Code, unless otherwise permitted or required by law; 
 (3) No amendment shall
provide for the use of funds or assets held to provide benefits under the Plan other than for the benefit of Participants and their Beneficiaries and Alternate Payees or to meet the administrative expenses of the Plan, except as may be specifically
authorized by statute or regulation. 
 Each amendment shall be approved by resolution of the Board; provided, however, that no amendment
shall cause the Plan to fail to satisfy the requirements of section 401(a) of the Code when all benefits provided by all Participating Employers which are required to be aggregated for such purposes are taken into account. 
 (b) The provisions of the Plan may be amended at any time and from time to time by the Employee Benefits Committee, provided, however, that: 

(1) such an amendment would not result in a material increase in the currently estimated cost of maintaining the Plan; and 
 (2) such amendment is routine in nature. 
 Section 16.02 Amendments to the Vesting Schedule. 
 (a) If the vesting schedule under this Plan is amended, each Active
Participant who has completed at least three (3) years of Vesting Service prior to the end of the election period specified in this Section 16.02 may elect, during such election period, to have the vested percentage of his Accrued Benefit
determined without regard to such amendment. 
  

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 (b) For the purposes of this Section 16.02, the election period shall begin as of the date on which
the amendment changing the vesting schedule is adopted, and shall end on the latest of the following dates: 
 (1) the date occurring 60
days after the Plan amendment is adopted; or 
 (2) the date which is 60 days after the day on which the Plan amendment becomes effective;
or 
 (3) the date which is 60 days after the day the Participant is issued written notice of the Plan amendment by the Employee Benefits
Committee; or 
 (4) such later date as may be specified by the Employee Benefits Committee. 
 The election provided for in this Section 16.02 shall be made in writing and shall be irrevocable when made. 
 Section 16.03 Reversion. Subject to the provisions of this Section 16.03, the assets of the Plan shall be applied exclusively for the
purposes of providing benefits to Participants and Beneficiaries under the Plan and for defraying expenses incurred in the administration of the Plan and its corresponding trust or other funding vehicle. No provision of the Plan nor any amendment
shall cause any of the assets of the Fund to revert to the Participating Employers, except that, if, after the Plan is terminated, there are assets remaining after all fixed and contingent liabilities to Participants, Beneficiaries and Alternate
Payees under the terms of the Plan within the meaning of ERISA section 4044(d)(1)(A) are satisfied, such excess assets may be refunded to the Participating Employers. Notwithstanding anything in this Section or any other provision of the Plan to the
contrary, contributions shall be refunded to the Participating Employers if such contributions were made under a mistake of fact or if such contributions are disallowed as a deduction to a Participating Employer for federal income tax purposes or
such contribution is otherwise nondeductible and recovery thereof is permitted, provided that such refunds are limited in time and amount as set forth in section 403(c) of ERISA or as otherwise permitted by applicable administrative rules. No such
refund shall be made if, solely on account of such refund, the Plan would cease to be a qualified plan pursuant to section 401(a) of the Code. 
 Section 16.04 Mergers and Consolidations of Plans. In the event of any merger or consolidation with, or transfer of assets and liabilities to, any other plan, each Participant shall have a benefit in the surviving or transferee
plan (determined as if such plan were then terminated immediately after such merger, consolidation or transfer) that is equal to or greater than the benefit he would have been entitled to receive immediately before such merger, consolidation or
transfer in the plan in which he was then a 

  

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participant (had such plan been terminated at that time). For the purposes hereof, former Participants, Beneficiaries and Alternate Payees shall be
considered Participants. If the total liabilities of any plans that are merged into the Plan with respect to a Plan Year are equal to less than 3% of the assets of the Plan, in the event of a spin-off or termination of the Plan within five years
following such merger, Plan assets will be allocated first for the benefit of Participants who were participants in the other plans involved in the merger to the extent of the present value of such Participants’ benefits as of the date of the
merger. 
  

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 ARTICLE XVII  
 TERMINATION OF PLAN 
 Section 17.01 Right to Terminate. 
 (a) The Company expects to continue this Plan and the corresponding trust indefinitely, but reserves the right to terminate the Plan in whole or in part
at any time by resolution of the Board, without the consent of any Participant, Spouse, Beneficiary or Alternate Payee. 
 (b) If the Plan is
terminated in whole or in part, all Participants hereunder affected by such total or partial termination shall be fully vested in their Accrued Benefits as of the date of termination to the extent then funded. 
 Section 17.02 Procedure for Complete Termination. 
 (a) After notice by the Employee Benefits Committee to the PBGC that the Plan is to be wholly terminated and upon failure to receive a notice of non-sufficiency from PBGC, the Employee Benefits Committee, after
reserving an amount sufficient to pay all expenses and charges, shall direct the Trustee(s) to allocate the assets of the Fund in accordance with section 4044 of ERISA for the purposes set forth below and in the order set forth below, to the extent
that the assets are available to provide benefits to Participants, Beneficiaries and Alternate Payees. Notwithstanding the foregoing, if the order of priorities set forth below conflicts with ERISA and amendments thereto or regulations thereunder,
ERISA, its amendments and its regulations shall control. 
 (b) The Trustee(s), at the direction of the Employee Benefits Committee, shall
make the allocation referred to above as follows: 
 (1) First, to that portion of each person’s Accrued Benefit which is derived from
the Participant’s contributions to the Plan which were not mandatory contributions. 
 Second, to that portion of each person’s
Accrued Benefit which is derived from the Participant’s mandatory contributions, if any. 
 Third, in the case of benefits payable as
an annuity, (i) in the case of the benefit of a Participant, Spouse, or other Beneficiary or Alternate Payee which was in pay status as of the beginning of the three-year period ending on the termination date of the Plan, to each such benefit,
based on the provisions of the Plan (as in effect during the five-year period ending on such date) under which such benefit would be the least, and (ii) in the case of a Participant’s, Spouse’s, or other Beneficiary’s or
Alternate 

  

 64 

 
Payee’s benefit (other than a benefit described in (i) above) which would have been in pay status as of the beginning of such three-year period if
the Participant had retired prior to the beginning of the three-year period and if his benefits had commenced (in the normal form of annuity under the Plan), as of the beginning of such period, to each such benefit based on the provisions of the
Plan (as in effect during the five-year period ending on such date) under which the benefit would be the least. For the purposes of (i) above, the lowest benefit in pay status during a three-year period shall be considered the benefit in pay
status for such period. 
 Fourth, to all other benefits (if any) of persons under the Plan guaranteed under the termination insurance
provisions of ERISA. 
 Fifth, to all other nonforfeitable benefits under the Plan. 
 Sixth, to all other benefits under the Plan. 
 (2) If the assets available for allocation under any priority category (other than the fifth or sixth priority category) are insufficient to satisfy in full the benefits of all persons, the assets shall be allocated pro rata among such
persons on the basis of the present value (as of the termination date) of their respective Accrued Benefits. 
 (3) If any assets of the
Plan attributable to Participant contributions as determined in accordance with section 4044(d)(3) of ERISA remain after all liabilities of the Plan to Participants and their Beneficiaries and Alternate Payees have been satisfied, such assets shall
be equitably distributed among the Participants, Beneficiaries and Alternate Payees of Participants (including Alternate Payees) who made such contributions in accordance with their respective rates or amounts of contribution, as the Trustee or
Trustees determine. 
 (4) Any residual assets of the Plan remaining after distribution as aforesaid shall be distributed to the
Participating Employers, provided 
 (A) all liabilities of the Plan to Participants and their Beneficiaries and Alternate Payees have been
satisfied, and 
 (B) the distribution does not contravene any provision of law. 
 Section 17.03 Continuance of Trust. The Trustee(s) may, upon Plan termination (unless directed to dissolve the trust by the Company), either
distribute benefits and terminate the trust or continue the trust for the purpose of providing the benefits contemplated by the Plan. In no event shall funds revert to the Participating Employers 

  

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prior to the dissolution of the trust unless otherwise permitted by regulations issued under the Code and by ERISA in the event of Plan termination.

 Section 17.04 Nontransferability of Contracts. Any Contract issued hereunder to provide payment of benefits shall be endorsed
nontransferable. 
 Section 17.05 Limitation on Benefits. 
 (a) In the event of Plan termination, the benefit payable to any Highly Compensated Employee shall be limited to a benefit that is nondiscriminatory under
section 401(a)(4) of the Code. If payment of benefits is restricted in accordance with this subsection (a), assets in excess of the amount required to provide such restricted benefits shall become a part of the assets available under
Section 17.02 for allocation among Participants and their eligible spouses and beneficiaries whose benefits are not restricted under this subsection (a). 
 (b) The restrictions of this subsection (b) shall apply prior to termination of the Plan to any Participant who is a Highly Compensated Employee and who is one of the 25 highest paid employees or former employees
of the Participating Employers and all Affiliated Companies for any Plan Year. The annual payments to or on behalf of any such Participant shall be limited to an amount equal to (1) the payments that would have been made to or on behalf of the
Participant under a single life annuity that is the Actuarial Equivalent of the sum of the Participant’s Accrued Benefit and any other benefits under the Plan (other than a social security supplement) plus (2) the payments that the
Participant is entitled to receive under a social security supplement. 
 (c) The restrictions in subsection (b) shall not apply to a
Participant described therein: 
 (1) if, after the payment of benefits to or on behalf of such Participant, the value of the Plan assets
equals or exceeds 110% of the value of the current liabilities (within the meaning of section 412(l)(7) of the Code); 
 (2) if the value of
the benefits payable to or on behalf of such Participant is less than 1% of the value of current liabilities before distribution; 
 (3) if
the value of the benefits payable to or on behalf of such Participant does not exceed $5,000 ($3,500 prior to January 1, 1998); or 
 (4) such Participant has entered into an agreement with the Employee Benefits Committee as described in subsection (d). 
 (d)
Notwithstanding subsection (b) of this Section 17.05, a Participant described in subsection (b) (a “restricted Participant”) may receive distribution without 

  

 66 

 
regard to the restrictions described in that subsection provided that the following requirements are met: 
 (1) The “restricted amount” (which may be required to be repaid to the Plan) is the excess of the accumulated amount of distributions made to
the restricted Participant over the accumulated amount of the Participant’s nonrestricted limit. The Participant’s “nonrestricted limit” is equal to the payments that could have been distributed to the Participant pursuant to
subsection (b). An “accumulated amount” is the amount of a payment increased by a reasonable amount of interest from the date the payment was made (or would have been made) until the date for the determination of the restricted amount.

 (2) Prior to receipt of a distribution from the Plan, the restricted Participant shall deposit in escrow with a depositary acceptable to
the Employee Benefits Committee property having a fair market value equal to at least 125% of the restricted amount. Alternatively, the Participant may (A) post a bond from an insurance company, bonding company or other surety approved by the
U.S. Treasury Department as an acceptable surety for federal bonds or (B) obtain a bank letter of credit in an amount equal to at least 100% of the restricted amount. 
 (3) Amounts in the escrow account in excess of 125% of the restricted amount may be withdrawn on behalf of the Participant. If the market value of the
property in the escrow account falls below 110% of the restricted amount, the Participant shall deposit additional property to bring the value of the property up to 125% of the restricted amount. The Participant may receive any income from the
property placed in escrow, provided that the 125% minimum is maintained. Similar rules shall apply to the release of any liability in excess of 100% of the restricted amount where the repayment obligation has been secured by a bond or a letter of
credit. 
 (4) A depository may not redeliver to a Participant any property held under the agreement, other than amounts in excess of 125%
of the restricted amount and a surety or bank may not release any liability on a bond or letter of credit unless the Employee Benefits Committee certifies that the restricted Participant (or the Participant’s estate) is no longer obligated to
repay any amount under the agreement. The Employee Benefits Committee shall make such certification at any time after the distribution commences if (A) the conditions of paragraphs (c)(1), (2) or (3) are met; (B) the Plan is
terminated and the requirement of subsection (a) is met; or (C) the Participant is no longer a restricted Participant. Such certification shall terminate the agreement between the Participant and the Employee Benefits Committee.

 Section 17.06 Recapture of Payments. No provision to the Plan shall be construed as exempting any Participant or other party
from diminution of pension benefits and/or recapture of pension benefits by the PBGC to the extent such diminution and/or recapture is allowed by law. 
  

 67 

  

 68 

 ARTICLE XVIII 
 MISCELLANEOUS PROVISIONS 
 Section 18.01 Nonalienation of Benefits. 
 (a) Except as provided in Section 18.01(b) and (c), none of the payments, benefits, or rights of any Participant, surviving Spouse, or other
Beneficiary or Alternate Payee shall be subject to any claim of any creditor, and, in particular, to the fullest extent permitted by law, all such payments, benefits and rights shall be free from attachment, garnishment, trustee’s process, or
any other legal or equitable process available to any creditor of such Participant, surviving Spouse, or other Beneficiary or Alternate Payee. Except as provided in Section 18.01(b) and (c), no Participant, surviving Spouse, or other
Beneficiary or Alternate Payee shall have the right to alienate, anticipate, commute, pledge, encumber or assign any of the benefits or payments which he may expect to receive, contingently or otherwise, under the Plan, except the right to designate
a beneficiary or beneficiaries as hereinabove provided. 
 (b) Compliance with the provisions and conditions of any QDRO pursuant to
Section 13.08 or of any federal tax levy made pursuant to section 6331 of the Code shall not be considered a violation of this provision. 
 (c) Compliance with the provisions and conditions of a judgment relating to the Participant’s conviction of a crime involving the Plan, or a judgment, order, decree or settlement agreement between the Participant and the Secretary of
Labor or the Pension Benefit Guaranty Corporation relating to a violation (or an alleged violation) of part 4 of subtitle B of title I of ERISA shall not be considered a violation of this provision. 
 Section 18.02 No Contract of Employment. Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund,
trust or account, nor the payment of any benefits shall be construed as giving any Participant or Employee, or any person whomsoever, the right to be retained in the service of a Participating Employer, and all Participants and other Employees shall
remain subject to discharge to the same extent as if the Plan had never been adopted. 
 Section 18.03 Severability of
Provisions. If any provision of the Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been
included. 
 Section 18.04 Heirs, Assigns and Personal Representatives. The Plan shall be binding upon the heirs, executors,
administrators, successors and assigns of the parties, including each Participant, Spouse, Beneficiary and Alternate Payee, 

  

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present and future (except that no successor to the Company shall be considered a Plan sponsor unless that successor adopts the Plan). 
 Section 18.05 Headings and Captions. The headings and captions herein are provided for reference and convenience only, shall not be
considered part of the Plan; and shall not be employed in the construction of the Plan. 
 Section 18.06 Gender and Number.
Except where otherwise clearly indicated by context, the masculine and the neuter shall include the feminine and the neuter, the singular shall include the plural, and vice-versa. 
 Section 18.07 Controlling Law. The Plan shall be construed and enforced according to the laws of the state of New York to the extent not
preempted by Federal law, which shall otherwise control. 
 Section 18.08 Title to Assets; Source of Benefits. No person shall
have any right to, or interest in, any assets of the Fund, except as provided from time to time under the Plan, and then only to the extent of the benefits payable under the Plan to such person or out of the assets of the Fund. All benefits provided
for in the Plan shall be paid solely from the assets of the Fund, and neither the Participating Employers nor any other person shall be liable therefor in any manner. 
 Section 18.09 Payments to Minors, Etc. Any benefit payable to or for the benefit of a minor, an incompetent person or other person incapable of receipting therefor shall be deemed paid when paid to such
person’s guardian or, if none has been appointed, to the holder of a legally valid power of attorney from such person and such payment shall fully discharge the Trustee(s), the Employee Benefits Committee, the Participating Employers and all
other parties with respect thereto. 
 Section 18.10 Reliance on Data and Consents. The Participating Employers, the Trustee(s),
the Employee Benefits Committee, all fiduciaries with respect to the Plan, and all other persons or entities associated with the operation of the Plan, the management of its assets, and the provision of benefits thereunder, may reasonably rely on
the truth, accuracy and completeness of any data provided by any Participant, Spouse, Beneficiary or Alternate Payee, including, without limitation, representations as to age, health and marital status. Furthermore, the Participating Employers, the
Trustee(s), the Employee Benefits Committee, and all fiduciaries with respect to the Plan may reasonably rely on all consents, elections and designations filed with the Plan or those associated with the operation of the Plan and the Fund by any
Participant, the Spouse of any Participant, any Beneficiary of any Participant or any Alternate Payee of any Participant, or the representatives of such persons without duty to inquire into the genuineness of any such consent, election or
designation. None of the aforementioned persons or entities associated with the operation of the Plan, its assets and the benefits provided under the Plan shall have any duty to inquire into any such data, and all may rely on such data 

  

 70 

 
being current to the date of reference, it being the duty of the Participants, spouses of Participants, and Beneficiaries and Alternate Payees to advise the
appropriate parties of any change in such data. 
 Section 18.11 Lost Payees. If a Participant, surviving Spouse or other
Beneficiary or Alternate Payee to whom a benefit is payable under the Plan cannot be located following a reasonable effort to do so by the Employee Benefits Committee, such benefit shall be deemed forfeited. If a claim for a forfeited benefit is
subsequently filed by the party to whom the benefit is properly payable, such benefit shall be reinstated. No payments shall be made for any period in which benefits would have been payable if the party to whom the benefit was properly payable had
made timely application therefor. 
 Section 18.12 Notices. Each Participant, Spouse, Beneficiary and Alternate Payee shall be
responsible for furnishing the Employee Benefits Committee with the current and proper address for the mailing of notices, reports and benefit payments. Any notice required or permitted shall be deemed given if directed to the person to whom
addressed at such address and mailed by regular United States mail, first-class and prepaid. If any check mailed to such address is returned as undeliverable to the addressee, mailing of checks will be suspended until the Participant, Spouse,
Beneficiary or Alternate Payee furnishes the proper address. This provision shall not be construed as requiring the mailing of any notice or notification if the regulations issued under ERISA deem sufficient notice to be given by the posting of
notice in appropriate places, or by any other publication device. 
 Section 18.13 Counterparts. The Plan instrument and
amendments thereto may be executed in several counterparts, each of which shall be deemed an original. As to the Plan instrument and as to the instruments of amendment thereto, the counterparts of the respective instruments shall be considered a
single instrument, which may be sufficiently evidenced by one counterpart. Further, each amendment to the Plan shall be deemed to have amended all counterpart Plan instruments, and, if applicable, all counterparts of prior amendments. 
 Section 18.14 Acceptance by Other Employers. Another employer may adopt this Plan to cover its employees by filing with the Company a written
resolution adopting the Plan, upon which the Company shall indicate its acceptance of such employer as a Participating Employer under the Plan. 
 Section 18.15 Mistaken Payments. If it is determined that a Participant, Beneficiary, surviving Spouse or Alternate Payee has received the incorrect payment(s) for any reason, overpayments shall be charged against, and
underpayments shall be added to, any benefits otherwise payable to any such individual. 
  

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 Executed this 28th day of December, 2001. 
  

									
		 		 		 	CELLCO PARTNERSHIP
		 		 		 	(D/B/A VERIZON WIRELESS)
					
	Attest:	 	  
	 		 	By:	 	 /s/ Marc C. Reed

					
		 		 		 	Title:	 	 VP Human Resources

  

 72 

 APPENDIX A 
 ACTUARIAL ASSUMPTIONS AND FACTORS 
 VERIZON WIRELESS RETIREMENT PLAN 
 The following assumptions shall be used for determining the Actuarial Equivalent of a benefit, except as specified to the contrary in the Plan or Appendix C: 

1. For Purposes of Calculating the Normal and Optional Forms: 
 (a) UCN Annuity Pension Benefit Options. For purposes of converting a UCN Annuity Pension Benefit in the form of a single life annuity described in Section 10.02(a)(1) to an optional form of payment, other
than a single sum payment or an immediate annuity described in Section (b) below, the 1984 George B. Buck Mortality Table assuming 55% male and 45% female at 8% interest. 
 (b) Transition Benefit Account Options. For purposes of converting a Transition Benefit Account to an immediate single life annuity, the
Applicable Interest Rate and the Applicable Mortality Table specified in Section 2(a)(ii) of this Appendix A. 
 2. For Purposes of Calculating
Single Sum Distributions: 
 (a) UCN Annuity Pension Benefit. 
 (i) Prior to January 1, 2000. The single sum value of a participant’s monthly UCN Annuity Pension Benefit shall be actuarially computed
on the basis of the 1984 George B. Buck Mortality Table assuming 55% male and 45% female at the interest rate that would have been used by the PGBC as of the distribution date for purposes of determining the present value of a single sum
distribution on termination of a plan; provided, however, that if the present value of the single sum distribution exceeds $25,000 using the PBGC interest rate, the interest rate assumption shall be 120 percent of the PBGC Rate, provided that the
foregoing amount shall never be less than $25,000. 
 (ii) Effective January 1, 2000. Notwithstanding the foregoing, effective
January 1, 2000, the single sum value of a Participant’s monthly UCN Annuity Pension Benefit shall be actuarially computed on the basis of: the mortality table prescribed by the Secretary of the Treasury (the “Secretary”)
pursuant to section 417(e)(3)(A)(ii)(I) of the Code (the “Applicable Mortality Table”); and the annual rate of interest on 30-year Treasury securities as specified by the Secretary pursuant to section 417(e)(3)(A)(ii)(II) of the Code for
the second month prior to the first day of the Plan Year in which payment is made (the “Applicable Interest Rate”). 
  

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 (b) Transition Benefit Account. For benefits in the form of a Transition Benefit Account, the
single sum value of a Participant’s Transition Benefit Account shall be based solely on the balance of the Participant’s Transition Benefit Account as of the Benefit Payment Date. 
 3. Top-Heavy Rules 
 Except to the extent specified
otherwise in Appendix C, for the purpose of implementing the top-heavy rules and tests of Code Section 416, actuarial equivalence and actuarial present values shall be determined on the basis of an interest rate of 7% per annum compounded
annually and on the basis of the UP-1984 Mortality Table. 
  

 74 

 APPENDIX B 
 PARTICIPATING EMPLOYERS 
 Cellco Partnership (d/b/a Verizon Wireless) 
 AirTouch Cellular (California) 
 Verizon Wireless Texas LLC 
 NYNEX PCS, Inc. 
  

 75 

 APPENDIX C 
 FOR FORMER EMPLOYEES OF AIRTOUCH COMMUNICATIONS, INC. AND 
 CERTAIN ACTIVE EMPLOYEES OF VODAFONE AMERICAS ASIA INC., 
 FORMERLY, AIRTOUCH COMMUNICATIONS INC. 
 Effective as of the close of
December 31, 2000, all of the assets and liabilities of the AirTouch Plan were transferred to the Plan, and participants in the AirTouch Plan ceased accruing benefits thereunder. The purpose of this Appendix C is to provide the participants in
the AirTouch Plan with the benefits they had accrued under the AirTouch Plan as of December 31, 2000. In addition, the portion of a Participant’s Accrued Benefit under the Plan attributable to his AirTouch Annuity Pension Benefit may
increase with increases in his Final Average Compensation and, for Full Accrual Participants, with additional Years of Credited Service as provided in this Appendix C. The portion of a Participant’s Accrued Benefit under the Plan attributable
to his AirTouch Annuity Pension Benefit is payable in the special forms of payment provided in this Appendix C. 
 This Appendix C is a part of the Plan and
shall be administered in accordance with the provisions of the Plan. The benefits payable under the Plan to any AirTouch Active Participant or AirTouch Inactive Participant shall be governed by the rules set forth in the Plan, except as otherwise
specifically provided in this Appendix C. In no event shall the Accrued Benefit provided hereunder to such a Participant under the Plan and this Appendix C be less than the accrued benefit of such individual under the AirTouch Plan as of
December 31, 2000. 
 The benefits payable under this Appendix C to any AirTouch Active Participant or AirTouch Inactive Participant who has one or more
Hours of Service under the Plan on or after January 1, 2001 shall be calculated and payable in accordance with the terms of the AirTouch Plan as it existed on December 31, 2000 (consisting of the AirTouch Communications Employees Pension
Plan (Amended and Restated as of January 1, 1995) and amendments number 1, 2, 4 and 5 to the AirTouch Plan, all of which are hereby incorporated into the Plan by this reference), with the following exceptions: 
  

	1.	The cash-out provisions contained in the Plan shall apply in lieu of the cash-out provisions contained in the AirTouch Plan. 

  

	2.	The provisions in the Plan concerning minimum required distributions under section 401(a)(9) of the Code shall apply in lieu of the minimum required distribution provisions
contained in the AirTouch Plan. 

  

	3.	In-Service Pensions (as described in Section 5 of the AirTouch Plan) shall not be required or permitted. 

  

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	4.	No Compensation earned by a Participant on or after January 1, 2007 shall be counted for purposes of determining his Final Average Compensation under the AirTouch Plan.

  

	5.	Unless previously terminated under the provisions of the AirTouch Plan, a Participant’s “Term of Employment” for purposes of the AirTouch Plan shall cease on
December 31, 2006. 

 The benefits payable under the terms of the AirTouch Plan (or its predecessors) to any individual who does not have
one or more Hours of Service under the Plan on or after January 1, 2001 and who is not employed by a “Participating Company” (as defined in the AirTouch Plan) on or after December 31, 2000 shall be determined under the terms of
the AirTouch Plan (or its predecessors) in effect on the date such individual’s employment terminated. 
  

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 AMENDMENT NUMBER ONE TO THE 
 VERIZON WIRELESS RETIREMENT PLAN 
 (AS AMENDED AND RESTATED EFFECTIVE AS OF

 JANUARY 1, 2001) 
 THIS AMENDMENT to
the Verizon Wireless Retirement Plan, as amended and restated effective as of January 1, 2001 (the “Plan”), is hereby adopted by Cellco Partnership d/b/a Verizon Wireless (the “Company”), effective as of the respective
effective dates set forth below. 
 W I T N E S S E T H: 
 WHEREAS, the Company currently maintains the Plan; 
 WHEREAS, the Company wishes to amend the Plan to make
certain changes permitted or required under the Economic Growth and Tax Relief Reconciliation Act of 2001 and to make various other changes; 
 NOW,
THEREFORE, the Plan shall be amended as follows: 
 Effective as of January 1, 2001, Section 8.03(b) of the Plan is hereby amended in its
entirety to read as follows: 
 “(b) Reduced UCN Early Retirement Pension Benefit. Each Participant who
reaches age 50 but not age 55 and who has completed at least 25 Years of Service may also elect early retirement with respect to his UCN Annuity Pension Benefit. The amount of this benefit shall be determined in accordance with Article V using the
Participant’s relevant service and Compensation as of the earlier of the date he terminates employment or December 31, 1996. If the benefit payments to the Participant commence before his 55th birthday, his benefit shall be reduced by one-half of one percent (0.5%) for each calendar month or part thereof by which his age
at his Benefit Payment Date is less than 55 years.” 
 Effective as of January 1, 2001, Section 8.04(a) of the Plan is hereby amended in its
entirety to read as follows: 
  

 78 

 “(a) Transition Benefit Account. If a Participant has a Separation from Service prior to his
Normal Retirement Date but after he has completed three (3) or more Years of Vesting Service or suffered a Total Disability, his Transition Benefit Account shall become fully vested and nonforfeitable, and he shall be entitled to receive his
Transition Benefit Account as a monthly pension commencing as of his Normal Retirement Date in an amount which, subject to Section 7.02, is equal to his Transition Benefit Account (or its Actuarial Equivalent in a form set forth in Article X),
determined as of his Separation from Service with Interest Credits until his Benefit Payment Date; unless it is cashed out earlier in accordance with Section 10.01 or, at the Participant’s election, is paid on or before his Normal
Retirement Age. If a Participant dies while employed by a Participating Employer or an Affiliated Employer (even if his death occurs prior to his Normal Retirement Date and prior to his completing three (3) Years of Vesting Service), his
Transition Benefit Account shall become fully vested and nonforfeitable, and his Spouse or Beneficiary shall be paid the Transition Benefit Account death benefit in accordance with Section 9.02(b).” 
 Effective as of January 1, 2002, Section 2.13(f) of the Plan is hereby amended in its entirety to read as follows: 
 “(f) With respect to any Plan Year beginning on or after January 1, 2002, only the first $200,000 (or such other amount as may be applicable
under section 401(a)(17) of the Code) of the amount otherwise described in subsections (a), (b) and (c) of this definition shall be counted, except that this subsection (f) shall not apply for purposes of Section 7.02 and
determining “Key Employees” under Article XI. In determining benefit accruals in Plan Years beginning after December 31, 2001, the annual Compensation limit in this subsection (f), for Plan Years beginning prior to January 1,
2002, shall be $150,000 for Plan Years beginning prior to 1997, $160,000 for the 1997, 1998 and 1999 Plan Years, and $170, 000 for the 2000 and 2001 Plan Years.” 
 Effective as of January 1, 2002, the fourth paragraph of Section 9.05 of the Plan is hereby amended in its entirety to read as follows: 
 “The term rate of pay shall not include overtime or any other form of special or nonrecurring compensation except for bonuses and commissions
included under the preceding sentence, or any amounts in excess of $200,000 (as adjusted for cost of living increases under section 401(a)(17) of the Code) paid to an Employee during any Plan Year.” 
  

 79 

 Effective as of January 1, 2002, Section 10.09 of the Plan is hereby amended in its entirety to read as
follows: 
 “Section 10.09 Direct Rollovers. 
 (a) In the event any payment or payments (excluding any amount not includible in gross income) to be made under the Plan to a Participant, a Beneficiary who is the surviving Spouse of a Participant, or an Alternate
Payee who is the spouse or former spouse of a Participant would constitute an “eligible rollover distribution” (as defined below), such individual may request that, in lieu of payment to the individual, all or part of such eligible
rollover distribution be transferred directly from the Fund to the trustee or custodian of an “eligible retirement plan” (as defined below). 
 (b) Any such request shall be made in writing, in such form and subject to such procedures, requirements, and restrictions as may be prescribed by the Employee Benefits Committee for such purpose pursuant to Treasury
regulations, at such time in advance of the date such payment would otherwise be made as may be required by the Employee Benefits Committee. 
 (c) For purposes of this Section 10.09, an “eligible rollover distribution” is distribution from the Plan excluding (i) a distribution that is one of a series of substantially equal periodic payments (not less frequently
than annually) over the life (or life expectancy) of the individual, the joint lives (or joint life expectancies) of the individual and the individual’s designated Beneficiary, or a specified period of ten (10) or more years, (ii) a
distribution to the extent it is required under section 401(a)(9) of the Code, and (iii) a distribution to the extent it is not included in gross income. Notwithstanding clause (iii) in the preceding sentence, a portion of a distribution
shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be paid only to an individual retirement account or
annuity described in section 408(a) or (b) of the Code, or to a qualified defined contribution plan described in section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting
for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. 
 (d) For purposes of this Section 10.09, an “eligible retirement plan” is (i) an individual retirement account described in section 408(a) of the Code, (ii) an individual retirement annuity described in section
408(b) of the Code (other than an endowment contract), (iii) an annuity plan described in section 403(a) of the Code, (iv) a qualified plan described under section 401(a) of the Code with a trust which is exempt from tax under section
501(a) of the Code, the terms of which permit the acceptance of rollover distributions, (v) an annuity contract described in section 403(b) of the Code and 

  

 80 

 
(vi) an eligible plan under section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of
a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan. This definition of “eligible retirement plan” shall also apply in the case of a distribution to a
surviving Spouse, or to a spouse or former spouse who is the alternate payee under a qualified domestic relation order, as defined in section 414(p) of the Code.” 
 Effective as of January 1, 2002, Section 11.01(c) of the Plan is hereby amended in its entirety to read as follows: 
 “(c) “Key Employee” shall mean a person employed or formerly employed by a Participating Employer or an Affiliated Company who, during the Plan Year that contains the Determination Date, was any of the
following: 
 (1) An officer of a Participating Employer or an Affiliated Company having annual Compensation greater than $130,000 (as
adjusted under section 416(i)(1) of the Code for Plan Years beginning after December 31, 2002); 
 (2) A five-percent (5%) owner of
a Participating Employer or an Affiliated Company within the meaning of section 416(i) of the Code; or 
 (3) A one percent (1%) owner
of a Participating Employer or an Affiliated Company within the meaning of section 416(i) of the Code having annual Compensation greater than $150,000. 
 The determination of who is a Key Employee shall be made in accordance with section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued hereunder.” 

Effective as of January 1, 2002, Section 11.01(d) of the Plan is hereby amended in its entirety to read as follows: 
 “(d) “Key Employee Ratio” shall mean the ratio (expressed as a percentage) for any Plan Year, calculated as of the Determination Date with
respect to such Plan Year, determined by dividing the amount described in paragraph (1) hereof by the amount described in paragraph (2) hereof, after deducting from both such amounts the amount described in paragraph (3) hereof.

  

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 (1) The amount described in this paragraph (1) is the sum of (A) the aggregate of the present
value of all accrued benefits of Key Employees under all qualified defined benefit plans included in the Aggregation Group, (B) the aggregate of the balances in all of the accounts standing to the credit of Key Employees under all qualified
defined contribution plans included in the Aggregation Group, and (C) the aggregate amount distributed from all plans in such Aggregation Group to or on behalf of any Key Employee during the one-year period ending on the Determination Date.
Clause (C) shall also include distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other
than separation from service, death or disability, clause (C) shall be applied by substituting “five-year period” for “one-year period.” 
 (2) The amount described in this paragraph (2) is the sum of (A) the aggregate of the present value of all accrued benefits of all Participants under all qualified defined benefit plans included in the
Aggregation Group, (B) the aggregate of the balances in all of the accounts standing to the credit of all Participants under all qualified defined contribution plans included in the Aggregation Group, and (C) the aggregate amount
distributed from all plans in such Aggregation Group to or on behalf of any Participant during the one-year period ending on the Determination Date. Clause (C) shall also include distributions under a terminated plan which, had it not been
terminated, would have been aggregated with the Plan under section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than separation from service, death or disability, clause (C) shall be applied by substituting
“five-year period” for “one-year period.” 
 (3) The amount described in this paragraph (3) is the sum of
(A) all rollover contributions (or similar transfers) to plans included in the Aggregation Group initiated by an Employee and made from a plan sponsored by an employer which is not a Participating Employer or an Affiliated Company,
(B) with respect to Plan Years beginning after December 31, 1984, any amount that would have been included under paragraph (1) or (2) hereof with respect to any person who has not performed services for any Participating Employer
at any time during the one-year period ending on the Determination Date, and (C) any amount that is included in paragraph (2) hereof for, on behalf of, or on account of, a person who is a Non-Key Employee as to the Plan Year of reference
but who was a Key Employee as to any earlier Plan Year. 
 The present value of accrued benefits under any defined benefit plan shall be
determined on the basis of the assumptions described in Appendix A or Appendix C, as applicable, and, effective for Plan Years beginning after December 31, 1986, under the method used for accrual purposes for all plans maintained by all
Participating Employers and Affiliated Companies if a single method is used by 

  

 82 

 
all such plans or, otherwise, the slowest accrual method permitted under section 411(b)(1)(C) of the Code.” 
 Effective as of July 1, 2002, Section 15.02 of the Plan is hereby deleted from the Plan and the following Sections 15.02, 15.03, and 15.04 are substituted in
lieu thereof: 
 “Section 15.02 Claims. If a Participant, Beneficiary or Alternate Payee or authorized representative thereof
(hereinafter referred to as a “Claimant”) has any grievance, complaint, or claim concerning any aspect of the operation or administration of the Plan or the Fund, including but not limited to claims for benefits and complaints concerning
the performance or administration of the investments of Plan assets (collectively referred to herein as a “Claim” or “Claims”), the Claimant shall submit the Claim to the Employee Benefits Committee, which shall have the initial
responsibility for deciding the Claim. All such Claims must (i) be submitted in writing, (ii) set forth the relief requested and the reasons the relief should be granted and (iii) be submitted within the “applicable limitations
period” (as defined below). To the extent that documentary or other evidence is relevant to the relief sought, the Claimant should submit such evidence or, if the evidence is in the possession of the Employee Benefits Committee, the Claimant
should refer to such evidence in a manner sufficient to allow the Employee Benefits Committee to identify and locate such evidence. 
 For
purposes of this Section 15.02, the “applicable limitations period” shall mean two years, beginning (i) in the case of any lump-sum payment, on the date on which the payment was made, (ii) in the case of an annuity payment
or installment payment, on the date of the first in the series of payments, or (iii) for all other Claims, on the date on which the action complained or grieved of occurred. In the case of any Claim regarding the determination of a
Participant’s service under the Plan, the Claim must be submitted to the Employee Benefits Committee no later than two years from the date the Claimant received the first benefit statement (or other documentation) showing the amount of the
service in question. 
 Section 15.03 Denial of Claims. If a Claim is denied in whole or in part, the Employee Benefits Committee
shall give the Claimant written notice of the decision within ninety (90) days of the date the Claim was submitted. Such written notice shall set forth in a manner calculated to be understood by the Claimant (i) the specific reason or
reasons for the denial, (ii) specific references to pertinent Plan provisions on which the denial is based, (iii) a description of any additional material or information necessary for the Claimant to perfect the Claim, along with an
explanation of why such material or information is necessary, and (iv) an explanation of the Plan’s claims review procedures, the time limits under those procedures and a statement regarding the Claimant’s right to bring a civil
action under ERISA Section 502(a) following an adverse benefit 

  

 83 

 
determination on appeal. The Employee Benefits Committee may extend this ninety (90) day period for its review of a Claim for an additional ninety
(90) days by giving written notice to the Claimant prior to the expiration of the initial ninety (90) day period setting forth the reason for the extension. 
 A Claimant shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to his Claim. 
 Section 15.04 Appeals Procedure. If a Claim is denied in whole or in part, the Claimant or his duly authorized representative may appeal the
denial to the Employee Benefits Committee within sixty (60) days of the Claimant’s receipt of the written notice of denial. In pursuing his appeal, the Claimant or his duly authorized representative (i) must request in writing that
the Employee Benefits Committee review the denial, (ii) can review pertinent documents, and (iii) can submit evidence as well as written issues, comments or arguments. 
 In conducting the review, the Employee Benefits Committee shall take into consideration all comments, documents, records and other information submitted
by the Claimant relating to the Claim, without regard to whether such information was submitted or considered as part of the initial benefit determination. The decision on review shall be made within sixty (60) days of receipt of the request
for review, unless special circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as possible, but not later than one hundred and twenty (120) days after the Employee Benefits
Committee’s receipt of the request for review. If such an extension of time is required, written notice of the extension shall be furnished to the Claimant before the end of the original sixty (60) day period. 
 The decision on review shall be made in writing and shall be written in a manner calculated to be understood by the Claimant. If the appeal is denied in
whole or in part, the Employee Benefits Committee’s notification shall set forth (i) the specific reason or reasons for the denial, (ii) a reference to the specific Plan provisions on which the denial is based, (iii) a statement
that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the Claimant’s Claim, and (iv) the Claimant’s right to bring an
action under Section 502(a) of ERISA. The decision shall be final and conclusive, and a Claimant shall not be permitted to bring suit at law or in equity on a Claim without first exhausting the remedies available hereunder. No action at law or
in equity to recover under this Plan shall be commenced later than one year from the date of the decision on review.” 
 Effective as of June 1,
2004, the first paragraph of Section 6.02 of the Plan is hereby amended in its entirety to read as follows: 
  

 84 

 “Section 6.02 Allocations to Transition Benefit Account. Transition Benefit Credits and
Interest Credits generally shall be allocated to the Transition Benefit Account of an Active Participant in accordance with this Section 6.02 until such Participant’s Benefit Payment Date. Transition Benefit Credits and Interest Credits
with respect to a Participant’s period of Qualified Military Service shall be provided in accordance with section 414(u) of the Code. Notwithstanding the foregoing, no Transition Benefit Credits shall be made to the Plan for any Plan Year
beginning on or after January 1, 2005.” 
 Effective as of June 1, 2004, Section 6.03 of the Plan is hereby amended in its entirety to
read as follows: 
 “Section 6.03 Transition Benefit Credits. For each Plan Year beginning on or after January 1, 2001 but
before January 1, 2004, a Transition Benefit Credit shall be credited to the Transition Benefit Account of each Active Participant during such Plan Year in an amount equal to two percent (2%) of his Compensation for the Plan Year. For the
Plan Year beginning on January 1, 2004, a Transition Benefit Credit shall be credited to the Transition Benefit Account of each Active Participant during such Plan Year in an amount equal to two percent (2%) of his Compensation during the
period from January 1, 2004 through May 31, 2004 (with no Transition Benefit Credit being credited to any Active Participant’s Transition Benefit Account based upon his Compensation from June 1, 2004 through December 31,
2004). No Transition Benefit Credits shall be made to the Plan for any Plan Year beginning on or after January 1, 2005.” 
 Except as amended
herein, the Plan shall continue in full force and effect. 
  

 85 

 IN WITNESS WHEREOF, the undersigned has adopted this Amendment Number One to the Verizon Wireless Retirement Plan
on behalf of the Company on the date shown below, but effective as of the respective dates set forth above. 
  

			
	Cellco Partnership d/b/a Verizon Wireless
		
	By:	 	 /s/ Marc C. Reed

	Title:	 	 VP-HR

	Date:	 	 12/18/02

  

 86 

 AMENDMENT NUMBER TWO TO THE 
 VERIZON WIRELESS RETIREMENT PLAN 
 (AS AMENDED AND RESTATED EFFECTIVE AS OF

 JANUARY 1, 2001) 
 THIS AMENDMENT to
the Verizon Wireless Retirement Plan, as amended and restated effective as of January 1, 2001 (the “Plan”), is hereby adopted by Cellco Partnership d/b/a Verizon Wireless (the “Company”), effective as of the respective
effective dates set forth below. 
 W I T N E S S E T H: 
 WHEREAS, the Company currently maintains the Plan; 
 WHEREAS, the Company wishes to amend the Plan
(i) effective as of March 28, 2005, to comply with the new mandatory distribution requirements under ERISA and the Internal Revenue Code and (ii) effective as of January 1, 2006, to comply with the final regulations issued under
Section 401(a)(9) of the Internal Revenue Code; 
 NOW, THEREFORE, the Plan shall be amended as follows: 
 1. 
 Effective as of March 28, 2005, Section 10.01
of the Plan is modified by the addition of a new paragraph (d) to read as follows: 
 “(d) Rules Effective March 28,
2005. Notwithstanding any other provisions of this Section 10.01 to the contrary, effective on and after March 28, 2005: 
 (1)
If, upon a Participant’s Benefit Payment Date, the Actuarial Equivalent single sum present value of his vested Accrued Benefit under the Plan, the only form of payment available to such Participant shall be a single lump sum payment of the
total Actuarial Equivalent single sum present value of his vested Accrued Benefit under the Plan. 
 (2) If a Participant has incurred a
Separation from Service for reasons other than death, the total Actuarial Equivalent single sum present value of his vested Accrued Benefit under the Plan does not exceed $1,000, and, after receiving all the required notices, he does not
affirmatively elect a distribution, the total Actuarial Equivalent single sum present value of his vested Accrued Benefit under the Plan shall be 

 
paid to him in the form of a single lump sum payment, without the necessity of obtaining the Participant’s consent, as soon as practicable thereafter.

 (3) If a Participant has incurred a Separation from Service for reasons other than death, the total Actuarial Equivalent single sum
present value of his vested Accrued Benefit under the Plan exceeds $1,000 but does not exceed $5,000, and, after receiving all the required notices, he does not affirmatively elect a distribution, the total Actuarial Equivalent single sum present
value of his vested Accrued Benefit under the Plan shall be rolled over to an individual retirement account (as described in Section 408(a) of the Code) designated by the Plan Administrator, without the necessity of obtaining the
Participant’s consent, as soon as practicable thereafter.” 
 2. 
 Effective as of January 1, 2006, the Plan is modified by the addition of a new Article XIX to read as follows: 
 “ARTICLE XIX 
 MINIMUM DISTRIBUTION REQUIREMENTS 
 Section 19.01 General Rules 
 (a)
Effective Date. The provisions of this Article XIX will apply for purposes of determining required minimum distributions for calendar years beginning with the 2006 calendar year. 
 (b) Precedence. This Article XIX will take precedence over any inconsistent provisions of the Plan. 
 (c) Requirements of Treasury Regulations Incorporated. All distributions required under this Article XIX will be determined and made in accordance
with the Treasury Regulations under Section 401(a)(9) of the Code. 
 (d) TEFRA Section 242(b)(2) Elections. Notwithstanding
the other provisions of this Article XIX, other than Section 19.01(c), distributions may be made under a designation made before January 1, 1984 in accordance with Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act
(“TEFRA”) and the provisions of the Plan that relate to Section 242(b)(2) of TEFRA. 
 Section 19.02 Time and Manner
of Distribution 
 (a) Required Beginning Date. The Participant’s entire interest will be 

  

 2 

 
distributed, or begin to be distributed, to the Participant no later than the Participant’s Required Beginning Date. 
 (b) Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest
will be distributed, or begin to be distributed, not later than as follows: 
 (1) If the Participant’s surviving
spouse is the Participant’s sole Designated Beneficiary, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of
the calendar year in which the Participant would have attained age 70- 1/2 if later. 
 (2) If the Participant’s surviving spouse is not the Participant’s sole Designated Beneficiary, distributions to the Designated Beneficiary
will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 
 (3) If there is
no Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of
the Participant’s death. 
 (4) If the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary and the
surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 19.02(b), other than Section 19.02(b)(1), will apply as if the surviving spouse were the Participant. 
 For purposes of this Section 19.02(b) and Section 19.05, distributions are considered to begin on the Participant’s Required Beginning Date
(or, if Section 19.02(b)(4) applies, the date distributions are required to begin to the surviving spouse under Section 19.02(b)(1)). If annuity payments irrevocably commence to the Participant before the Participant’s Required
Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 19.02(b)(1)), the date distributions are considered to begin is the date distributions
actually commence. 
 (c) Form of Distribution. Unless the Participant’s interest is distributed in the form of an annuity
purchased from an insurance company or in a single sum on or before the Required Beginning Date, as of the first Distribution Calendar Year, distributions will be made in accordance with Sections 19.03, 19.04, and 19.05 of this Article XIX. If the
Participant’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury Regulations.
Any part of the 

  

 3 

 
Participant’s interest which is in the form of an individual account described in Section 414(k) of the Code will be distributed in a manner
satisfying the requirements of Section 401(a)(9) of the Code and the Treasury Regulations that apply to individual accounts. 
 Section 19.03 Determination of Amount to Be Distributed Each Year 
 (a) General Annuity Requirements. If the
Participant’s interest is paid in the form of annuity distributions under the Plan, payments under the annuity will satisfy the following requirements: 
 (1) the annuity distributions will be paid in periodic payments made at intervals not longer than one year; 
 (2) the distribution period will be over a life (or lives) or over a period certain not longer than the period described in Section 19.04 or Section 19.05; 
 (3) once payments have begun over a period certain, the period certain will not be changed even if the period certain is shorter than the maximum
permitted; and 
 (4) payments will either be nonincreasing or increase only as follows: 
 (A) by an annual percentage increase that does not exceed the annual percentage increase in a cost-of-living index that is based on prices of all items
and issued by the Bureau of Labor Statistics; 
 (B) to the extent of the reduction in the amount of the Participant’s payments to
provide for a survivor benefit upon death, but only if the beneficiary whose life was being used to determine the distribution period described in Section 19.04 dies or is no longer the Participant’s beneficiary pursuant to a Qualified
Domestic Relations Order within the meaning of Section 414(p) of the Code; or 
 (C) to pay increased benefits that result from a Plan
amendment. 
 (b) Amount Required to Be Distributed by Required Beginning Date. The amount that must be distributed on or before the
Participant’s Required Beginning Date (or, if the Participant dies before distributions begin, the date distributions are required to begin under Section 19.02(b)(1) or Section 19.02(b)(2)) is the payment that is required for one
payment interval. The second payment need not be made until the end of the next payment interval. Payment intervals are the periods for which payments are received, e.g., monthly. All of the Participant’s benefit accruals as of the last day of
the first Distribution Calendar Year will be included in the calculation of the amount of the annuity payments for payment intervals ending on or after the Participant’s Required Beginning Date. 
  

 4 

 (c) Additional Accruals After First Distribution Calendar Year. Any additional benefits accruing
to the Participant in a calendar year after the first Distribution Calendar Year will be distributed beginning with the first payment interval ending in the calendar year immediately following the calendar year in which such amount accrues.

 Section 19.04 Requirements for Annuity Distributions That Commences During Participant’s Lifetime 
 (a) Joint Life Annuities Where Beneficiary is Not Participant’s Spouse. If the Participant’s interest is being distributed in the form of
a joint and survivor annuity for the joint lives of the Participant and a nonspouse beneficiary, annuity payments to be made on or after the Participant’s Required Beginning Date to the Designated Beneficiary after the Participant’s death
must not at any time exceed the applicable percentage of the annuity payment for such period that would have been payable to the Participant using the table set forth in Q&A-2 of Section 1.401(a)(9)-6 of the Treasury Regulations. If the
form of distribution combines a joint and survivor annuity for the joint lives of the Participant and a nonspouse beneficiary and a period certain annuity, the requirement in the preceding sentence will apply to annuity payments to be made to the
Designated Beneficiary after the expiration of the period certain. 
 (b) Period Certain Annuities. Unless the Participant’s
spouse is the sole Designated Beneficiary and the form of distribution is a period certain and no life annuity, the period certain for an annuity distribution commencing during the Participant’s lifetime may not exceed the applicable
distribution period for the Participant under the Uniform Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations for the calendar year that contains the Benefit Payment Date. If the Benefit Payment Date precedes the year
in which the Participant reaches age 70, the applicable distribution period for the Participant is the distribution period for age 70 under the Uniform Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations plus the
excess of 70 over the age of the Participant as of the Participant’s birthday in the year that contains the Benefit Payment Date. If the Participant’s spouse is the Participant’s sole Designated Beneficiary and the form of
distribution is a period certain and no life annuity, the period certain may not exceed the longer of the Participant’s applicable distribution period, as determined under this Section 19.04(b), or the joint life and last survivor
expectancy of the Participant and the Participant’s spouse as determined under the Joint and Last Survivor Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations, using the Participant’s and spouse’s attained ages
as of the Participant’s and spouse’s birthdays in the calendar year that contains the Benefit Payment Date. 
 Section 19.05
Requirements for Minimum Distributions Where Participant Dies Before Date Distributions Begin 
 (a) Participant Survived by
Designated Beneficiary. If the Participant dies before the date distribution of his or her interest begins and there is a Designated 

  

 5 

 
Beneficiary, the Participant’s entire interest will be distributed, beginning no later than the time described in Section 19.02(b)(1) or
19.02(b)(2), over the life of the Designated Beneficiary or over a period certain not exceeding: 
 (1) unless the Benefit Payment Date is
before the first Distribution Calendar Year, the Life Expectancy of the Designated Beneficiary determined using the beneficiary’s age as of the beneficiary’s birthday in the calendar year immediately following the calendar year of the
Participant’s death; or 
 (2) if the Benefit Payment Date is before the first Distribution Calendar Year, the Life Expectancy of the
Designated Beneficiary determined using the beneficiary’s age as of the beneficiary’s birthday in the calendar year that contains the Benefit Payment Date. 
 (b) No Designated Beneficiary. If the Participant dies before the date distributions begin and there is no Designated Beneficiary as of September 30 of the year following the year of the Participant’s
death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 (c) Death of Surviving Spouse Before Distributions to Surviving Spouse Begin. If the Participant dies before the date distribution of his or her
interest begins, the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, and the surviving spouse dies before distributions to the surviving spouse begin, this Section 19.05 will apply as if the surviving
spouse were the Participant, except that the time by which distributions must begin will be determined without regard to Section 19.02(b)(1). 
 Section 19.06 Definitions 
 (a) Designated Beneficiary. The individual who is designated as the
“beneficiary” under Article IX of the Plan or Section 10.11 of the Plan and who is the “designated beneficiary” under Section 401(a)(9) of the Code and Section 1.401(a)(9)-4, Q&A-1 of the Treasury Regulations.

 (b) Distribution Calendar Year. A calendar year for which a minimum distribution is required. For distributions beginning before
the Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant’s Required Beginning Date. For distributions beginning after the Participant’s
death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin pursuant to Section 19.02(b). 
 (c) Life Expectancy. Life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury Regulations. 
  

 6 

 (d) Required Beginning Date. The date specified in Section 2.49 of the Plan.”

 3. 
 Except as amended herein, the Plan shall
continue in full force and effect. 
  

 7 

 IN WITNESS WHEREOF, the undersigned has adopted this Amendment Number Two to the Verizon Wireless Retirement Plan
on behalf of the Company on the date shown below, but effective as of the respective dates set forth above. 
  

			
	Cellco Partnership d/b/a Verizon Wireless
		
	By:	 	 /s/ Dennis Strigl

		 	Dennis Strigl
		
	Title:	 	President and CEO
		
	Date:	 	12/21/05
		
	By:	 	 /s/ Martha Delehanty

		 	Martha Delehanty
		
	Title:	 	Vice President – Human Resources
		
	Date:	 	12-21-05

  

 8 

 AMENDMENT NUMBER THREE TO THE 
 VERIZON WIRELESS RETIREMENT PLAN 
 (AS AMENDED AND RESTATED EFFECTIVE AS OF

 JANUARY 1, 2001) 
 THIS AMENDMENT to
the Verizon Wireless Retirement Plan, as amended and restated effective as of January 1, 2001 (the “Plan”), is hereby adopted by Cellco Partnership d/b/a Verizon Wireless (the “Company”), effective as of the respective
effective dates set forth below. 
 W I T N E S S E T H: 
 WHEREAS, the Company currently maintains the Plan; and 
 WHEREAS, pursuant to Section 16.01(b) of the
Plan, the Plan may be amended by the Employee Benefits Committee, provided that the amendments would not result in a material increase in the currently estimated cost of maintaining the Plan and that the amendments are routine in nature; and

 WHEREAS, the Company wishes to amend the Plan (i) effective as of January 1, 2007, to remove the language in the Plan providing that a
participant’s “Term of Employment” for purposes of the AirTouch Communications Employees Pension Plan (all of the assets and liabilities of which were transferred to the Plan as of the close of December 31, 2000) will cease on
December 31, 2006, and (ii) effective on and after September 1, 2007, to provide that participants with UCN Annuity Pension Benefits or AirTouch Annuity Pension Benefits who continue employment after reaching their normal retirement
dates can elect to begin receiving payments of those benefits while still employed by a participating employer; and 
 WHEREAS, the Employee Benefits
Committee has determined that these amendments are routine in nature and will not result in a material increase in the currently estimated cost of maintaining the Plan; 
 NOW, THEREFORE, the Plan shall be amended as follows: 
 1. 
 Effective as of January 1, 2007, exception #5 in the third paragraph of Appendix C to the Plan is hereby deleted in its entirety. 

 2. 
 Effective as of September 1, 2007, Article VIII of the Plan is modified by the addition thereto of a new Section 8.08 to read as follows: 
 “Section 8.08 In-Service Benefit Commencements of UCN Annuity Pension Benefits and AirTouch Annuity Pension Benefits. Notwithstanding any other provision of the Plan to the contrary (including, but not
limited to, Section 8.02 of the Plan and Appendix C to the Plan): 
 (a) If, on September 1, 2007, a Participant who reached his
Normal Retirement Date prior to September 1, 2007 (i) has a UCN Annuity Pension Benefit or an AirTouch Annuity Pension Benefit under the Plan, and (ii) is employed by a Participating Employer, the Participant shall be eligible to
elect to begin receiving his UCN Annuity Pension Benefit or his AirTouch Annuity Pension Benefit (as the case may be) at any time on or after September 1, 2007 regardless of his continued employment with the Participating Employer. 

(b) If a Participant who has a UCN Annuity Pension Benefit or an AirTouch Annuity Pension Benefit under the Plan reaches his Normal Retirement Date at
any time on or after September 1, 2007 and such Participant is employed by a Participating Employer at that time, the Participant shall be eligible to elect to begin receiving his UCN Annuity Pension Benefit or his AirTouch Annuity Pension
Benefit (as the case may be) at any time after his Normal Retirement Date regardless of his continued employment with the Participating Employer. 
 In the case of a UCN Annuity Pension Benefit, such payments will be made in the automatic form of payment under Section 10.02 of the Plan (a life annuity if the Participant is married or a Qualified Joint and Survivor Annuity if the
Participant is not married) unless the Participant elects to have the payments made in one of the optional annuity forms of payment available under Section 10.03 of the Plan with respect to UCN Annuity Pension Benefits. In the case of an
AirTouch Annuity Pension Benefit, such payments will be made in the form of a life annuity, a joint and survivor annuity with the Participant’s spouse, or a lump sum payment as elected by the Participant in accordance with the provisions of
Section 6 of the AirTouch Plan.” 
 3. 
 Except as amended herein, the Plan shall continue in full force and effect. 
  

 2 

 IN WITNESS WHEREOF, the undersigned member of the Employee Benefits Committee has executed this Amendment Number
Three to the Verizon Wireless Retirement Plan on behalf of the Employee Benefits Committee on the date shown below, but effective as of the respective effective dates set forth above. 
  

			
	Cellco Partnership
	Employee Benefits Committee
		
	By:	 	 /s/Martha Delehanty

		 	Martha Delehanty
	Title:	 	Chair, Employee Benefits Committee
	Date:	 	9/4/07

  

 3 

 AMENDMENT NUMBER FOUR TO THE 
 VERIZON WIRELESS RETIREMENT PLAN 
 (AS AMENDED AND RESTATED EFFECTIVE AS OF

 JANUARY 1, 2001) 
 THIS AMENDMENT
NUMBER FOUR to the Verizon Wireless Retirement Plan, as amended and restated effective as of January 1, 2001 (the “Plan”), is hereby adopted by Cellco Partnership d/b/a Verizon Wireless (the “Company”), effective as of
the respective effective dates set forth below. 
 W I T N E S S E T H: 
 WHEREAS, the Company currently maintains the Plan; and 
 WHEREAS, pursuant to Section 16.01(b) of the
Plan, the Employee Benefits Committee has authority to adopt amendments to the Plan that would not result in a material increase in the currently estimated cost of maintaining the Plan and are routine in nature; and 
 WHEREAS, the Company wishes to amend the Plan so that certain Active Participants transferring employment to Verizon Communications Inc. at the initiation of
their Participating Employers will receive recognition for service and increases in age during their employment with Verizon Communications. 
 WHEREAS, the Employee Benefits Committee has determined that these amendments are routine in nature and will not result in a material increase in the currently estimated cost of maintaining the Plan. 
 NOW THEREFORE, the Plan shall be amended as follows: 
 1. 
 The following new Section 4.06 is added to the Plan: 
 4.06 Additional Service and Age Credits for Certain Transfers to Verizon Communications on or after January 1, 2001. A Participant is a “VzC Transferred Participant” eligible for the service and
age credits described in this Section 4.06 if the Participant (i) was an Active Participant on January 1, 2001 and (ii) transfers on or after January 1, 2001 from employment with the Participating Employer to employment with
Verizon Communications Inc. or an “Affiliated Company” of Verizon Communications Inc. (substituting Verizon Communications Inc. for the Participating Employer in the definition of Affiliated Company) (collectively “Verizon
Communications”). 
  

 1 

 A VzC Transferred Participant’s continuous employment with Verizon Communications following his transfer and before
his Benefit Payment Date shall count in determining (i) his age, Years of Service and Years of Vesting Service for purposes of applying Sections 8.03 (UCN Early and Disability Retirement Pension Benefits) and 8.04 (Deferred Vested Benefit) and
(ii) his age and “Term of Employment” (as defined in the AirTouch Plan) for purposes of eligibility to receive his AirTouch Annuity Pension Benefit as a “Service Pension” (as defined in the AirTouch Plan) and eligibility to
receive benefits under the Health Benefits Account described in Section 17.04 of the AirTouch Plan. 
 Notwithstanding the preceding paragraph,

 (i) This Section 4.06 shall not result in the crediting of service that is already credited to the VzC Transferred Participant under
another provision of the Plan; 
 (ii) This Section 4.06 shall not prevent a VzC Transferred Participant from electing to receive
benefits under this Plan to which the Participant is entitled due to the Separation from Service that occurs when the Participant transfers to Verizon Communications, provided, however, that additional service and age credits under this
Section 4.06 shall cease with respect to such benefits as provided in the preceding paragraph. 
 (iii) A VzC Transferred Participant
whose employment with Verizon Communications began before the date the amendment adding this Section 4.06 is adopted and who is still employed by Verizon Communications on such adoption date shall be credited with age, Years of Service, Years
of Vesting Service and Term of Employment as described above, without regard to any Benefit Payment Date that occurred before the adoption date. If such VzC Transferred Participant later qualifies for more favorable early commencement reductions for
his UCN Early Retirement Pension Benefit or his AirTouch Annuity Pension Benefit because of the additional age or service counted under this Section 4.06, the VzC Transferred Participant’s pension benefit shall be recalculated under
Article VIII (and any other relevant provision or Schedule of the Plan or the AirTouch Plan) as of the termination of the VzC Transferred Participant’s continuous employment with Verizon Communications as if the prior distribution had not
occurred, and shall be reduced by the Actuarial Equivalent of the prior distribution. If any benefit amount remains after the recalculated benefit is reduced for the prior distribution, the remainder shall be paid to the VzC Transferred Participant
beginning as of such Participant’s termination of employment with Verizon Communications. 
 2. 
 The following new paragraph 5 is added to Appendix C: 
 5. Section 4.06
of this Plan shall apply to VzC Transferred Participants (as defined in that Section) for purposes of determining benefits under the provisions of the AirTouch Plan. 
  

 2 

 Except as amended herein, the Plan shall continue in full force and effect. 
  

 3 

 IN WITNESS WHEREOF, the undersigned member of the Employee Benefits Committee has executed this Amendment Number
Four to the Verizon Wireless Retirement Plan on behalf of the Company on the date shown below, but effective as of the respective dates set forth above. 
  

			
	Cello Partnership
	Employee Benefits Committee
		
	By:	 	 /s/Martha Delehanty, VP HR

	Name:	 	Martha Delehanty, VP HR
	Title:	 	Chair, Employee Benefits Committee
	Date:	 	December 10, 2008

  

 4Rules of the Vodafone Global Incentive Plan

 Exhibit 10.23 
 Vodafone Group Plc 
 RULES OF THE VODAFONE GLOBAL INCENTIVE PLAN 
  

			
	Shareholders’ Approval:	  	26 July 2005
		
	Directors’ Adoption:	  	8 November 2005
		
	Expiry Date:	  	25 July 2015
		
	HMRC reference	  	X23006/EJM

 Including amendments to 25 January 2009 
 Linklaters 
 One Silk Street 
 London EC2Y 8HQ 
 Telephone (44-20) 7456 2000 
 Facsimile (44-20) 7456 2222 
 Ref 01/145/G Rowlands-Hempel 

 Table of Contents 
  

					
	 Contents
	  	Page
	1	  	Introduction	  	1
			
	2	  	Definitions	  	1
			
	3	  	Granting Awards	  	4
			
	4	  	Terms of Awards to be set by Grantor	  	5
			
	5	  	Form of Awards	  	6
			
	6	  	No transfer of Awards	  	7
			
	7	  	Limits on the use of newly issued shares and treasury shares	  	7
			
	8	  	Normal Vesting of Awards	  	8
			
	9	  	Termination of Employment before Vesting Date and death	  	8
			
	10	  	Takeovers and restructurings	  	11
			
	11	  	Exchange of Awards	  	13
			
	12	  	Tax	  	14
			
	13	  	General	  	14
			
	14	  	Changing the Plan and termination	  	17
			
	15	  	Governing law and jurisdiction	  	18
			
	16	  	Special terms for Forfeitable Shares	  	18
			
	17	  	Special terms for Options	  	20
			
	18	  	Special terms for Conditional Awards	  	23
			
	19	  	Special provisions for Directors	  	24

  
  
  

 i 

	1	Introduction 

 This Plan is intended to give Members
of the Group flexibility to grant to eligible employees a number of different types of awards – which would normally be granted under different plans – under one consistent set of rules. 
 An Award under the Plan can take the form of: 
  

	 	•	 	 Forfeitable Shares – which are Shares transferred to the Participant at the time of Award, on the basis that they must be given back if the
Award lapses. 

  

	 	•	 	 a Nil-cost Option – which is a right to buy Shares on Vesting for nothing or a nominal amount. 

  

	 	•	 	 a Market Value Option – which is a right to buy Shares at a price set by reference to the market value of the Shares at the time of Award.
Because the value of these options depends on growth in the share price, these can be exercised for longer than Nil-Cost Options. 

  

	 	•	 	 a Conditional Award – which is a right to be given Shares on Vesting. 

 Grant and vesting of all types of Award work in similar ways but there are some differences in the mechanics of how they are granted and what happens
after they Vest. These are set out in the separate sections for each type of Award. 
 Rule 19 sets out special provisions which apply to
Directors of the Company. 
 The schedules allow for grants of particular types of Awards in a way which attracts favourable tax treatment or
complies with special rules in various countries. 
 This introduction does not form part of the rules. 
  

	2	Definitions 

 In these rules: 
 “Acquiring Company” means a person who obtains or has Control of the Company following a transaction of the sort described in rule 10 or,
if no person then has Control of the Company, the Company; 
 “Award” means a Conditional Award, an award of Forfeitable
Shares or an Option; 
 “Award Date” means the date which the Committee set for the grant of an Award; 
 “Business Day” means a day on which the London Stock Exchange (or, if relevant and if the Committee determine, any stock exchange
nominated by the Committee on which the Shares are traded) is open for the transaction of business; 
 “Committee” means,
subject to rule 10.4, the remuneration committee of the board of directors of the Company or any other committee or other body to whom the board of directors delegates some or all of their functions under these rules; 
  
  

 “Company” means Vodafone Group Plc; 
 “Conditional Award” means a conditional right to acquire Shares granted under the Plan; 
 “Control” has the meaning given to it by Section 840 of the Income and Corporation Taxes Act 1988; 
 “Dealing Restrictions” means restrictions imposed by statute, order, regulation or Government directive, or by the Model Code or any code
adopted by the Company based on the Model Code; 
 “Director” means any director of the Company, any member of the Group
Executive Committee and, any other person designated, from time to time, by the Committee; 
 “Expected Value” means the
value of an Award on the Award Date using a valuation methodology determined by the Committee, which takes account of the sum of all various possible performance outcomes at Vesting and which reflects the probabilities of achieving different
performance outcomes, rather than the maximum outcome only; 
 “Forfeitable Shares” means Shares held in the name of or for
the benefit of a Participant subject to the Forfeitable Share Agreement; 
 “Forfeitable Share Agreement” means the agreement
referred to in rule 16.1 (Forfeitable Share Agreement); 
 “Grantor” means the Company or any other Member of the Group which
grants Awards under the Plan with the approval of the Committee; 
 “HMRC” means HM Revenue and Customs; 
 “ITEPA” means Schedule 4 to the Income Tax (Earnings and Pensions) Act 2003; 
 “London Stock Exchange” means London Stock Exchange plc; 
 “JV Company” means any company or undertaking: 
  

	 	(a)	in the ordinary share capital of which the Company has an interest in shares of any class of at least five per cent in nominal value of the allotted shares of that class; and

  

	 	(b)	which is not a Subsidiary; and 

  

	 	(c)	which is designated by the Committee as a JV Company (for some or all purposes under the Plan) 

 or any undertaking which is a subsidiary undertaking of such a company or undertaking. 
 For the purpose of this definition, “undertaking” shall have the meaning given to it by Section 259 of the Companies Act 1985 and,
in this definition, that section shall apply to the references to “shares” and to “ordinary share capital” in the same way as it applies to references to “shares” in Part VII of that Act. “Subsidiary
undertaking” shall have the meaning given to it by Section 258 of the Companies Act 1985. 
  
  
  

 2 

 “Market Value Option” means an Option the Option Price of which is sent by reference to
the market value of a Share or an American Depository Share (ADS) on or around the Award Date; 
 “Member of the Group”
means: 
  

	 	(a)	the Company; and 

  

	 	(b)	its Subsidiaries from time to time; 

  

	 	(c)	any JV Company and 

  

	 	(d)	any other company which is associated with the Company and is so designated by the Committee (for some or all purposes under the Plan); 

 “Model Code” means the UK Listing Authority Model Code for transactions in securities by directors, certain employees and persons
connected with them; 
 “Option” means a right to acquire Shares granted under the Plan; 
 “Option Price” means the amount payable on the exercise of an Option; 
 “Participant” means a person holding an Award or his personal representatives; 
 “Performance Condition” means any performance condition imposed under rule 4.1 (Performance Conditions); 
 “Performance Period” means the period in respect of which a Performance Condition is to be satisfied; 
 “Plan” means these rules known as “The Vodafone Global Incentive Plan” as amended from time to time; 
 “Regulatory Information Service” means a service that is approved by the Financial Services Authority as meeting the Primary Information
Provider criteria and is on the list of Regulatory Information Services maintained by the Financial Services Authority; 
 “Shares” means, subject to rules 11, 17.2 and 18.1, fully paid ordinary shares in the capital of the Company or American Depository Shares (ADS) representing those shares; 
 “Subsidiary” means a company which is a subsidiary of the Company within the meaning of Section 736 of the Companies Act 1985;

 “Termination of Employment” means a Participant ceasing to be an employee of a Member of the Group. For these purposes a
Participant will not be treated as ceasing to be an employee of a Member of the Group until he ceases to be a permanent employee or director of all Members of the Group or, if the Grantor so decides, he recommences permanent employment with or
becomes a director of a Member of the Group within 14 calendar days; 
 “Vesting” means: 
  

	 	(a)	in relation to an Option, the Option becoming exercisable; 

  
  
  

 3 

	 	(b)	in relation to a Conditional Award, a Participant becoming entitled to have the Shares issued or transferred to him subject to these rules; and 

  

	 	(c)	in relation to an Award of Forfeitable Shares, the restrictions in the Forfeitable Share Agreement ceasing to have effect. 

 “Vesting Date” means the date set by the Grantor under rule 4.3.4 and, if not set by the Grantor, shall be the third anniversary of the
Award Date. 
  

	3	Granting Awards 

  

	3.1	Eligibility 

 The Grantor may grant an Award to any
employee (including an executive director) of any Member of the Group. However, unless the Committee decides otherwise, an Award may not be granted to an employee who, on the Award Date, has given or received notice of termination of employment,
whether or not such termination is lawful. 
  

	3.2	Approval of Committee 

 Awards may only be granted
by a Member of the Group (other than the Company) with the approval of the Committee. 
  

	3.3	Awards by reference to a Participant’s investment in Shares 

 The Grantor may decide that the number of Shares subject to an Award will be determined by reference to: 
  

	 	3.3.1	the number of Shares held by or on behalf of the Participant on any date or dates set by the Grantor; or 

  

	 	3.3.2	the number of Shares bought by or on behalf of the Participant within a period set by the Grantor; or 

  

	 	3.3.3	the gross equivalent of an amount invested by or on behalf of the Participant in Shares within a period set by the Grantor. 

  

	3.4	Timing of grant 

 Awards may not be granted at any
time after 25 July 2015 and may only be granted within 42 calendar days starting on any of the following: 
  

	 	3.4.1	the date of the Company’s annual general meeting; or 

  

	 	3.4.2	the date of shareholder approval of the Plan or any amendment to it; or 

  

	 	3.4.3	the day after the announcement of the Company’s results through a Regulatory Information Service for any period; or 

  

	 	3.4.4	any day on which the Committee resolves that exceptional circumstances exist which justify the grant of Awards; or 

  
  
  

 4 

	 	3.4.5	any day on which changes to the legislation or regulations affecting employee share plans are announced, effected or made; or 

  

	 	3.4.6	the lifting of Dealing Restrictions which prevented the granting of Awards during any period specified above. 

 Approved Options may not be granted under Schedule 1 before that Schedule has been approved by HMRC. 
  

	4	Terms of Awards to be set by Grantor 

  

	4.1	Performance Conditions 

  

	 	4.1.1	When granting an Award, the Grantor may make its Vesting conditional on the satisfaction of one or more conditions linked to the performance of the Company, as set by the
Committee. A Performance Condition must (subject to rule 4.1.2) be objective and specified at the Award Date and may provide that an Award will lapse to the extent it is not satisfied. The purpose of the Performance Condition will be to ensure that
the Vesting of Awards is subject to the satisfaction of demanding targets linked to the performance of the Company. 

  

	 	4.1.2	A Performance Condition may allow the Committee, having determined the extent to which any objective condition is satisfied, to decide, in its discretion, that the Award will
not Vest or will Vest to a lesser extent than that to which the objective condition is satisfied. That decision need not be made on objective grounds. 

  

	 	4.1.3	In exceptional circumstances, the Grantor, with the approval of the Committee, may waive or change a Performance Condition in accordance with its terms or if anything happens
which causes the Grantor and the Committee reasonably to consider it appropriate. 

  

	4.2	Other conditions 

  

	 	4.2.1	The Grantor, with the approval of the Committee, may set other conditions which are specified at the Award Date and may provide that an Award will lapse to the extent it is
not satisfied. 

  

	 	4.2.2	In exceptional circumstances, the Grantor, with the approval of the Committee, may amend or waive these conditions if anything happens which causes the Committee reasonably
to consider it appropriate. 

  

	4.3	Other terms to be set on grant 

 When granting an
Award, the Grantor will specify: 
  

	 	4.3.1	whether the Award is: 

  

	 	(i)	an Award of Forfeitable Shares (see rule 16); 

  

	 	(ii)	a Nil-Cost Option (see rule 17); 

  
  
  

 5 

	 	(iii)	a Market Value Option (see rule 17); 

  

	 	(iv)	a Conditional Award (see rule 18); 

  

	 	(v)	or a combination of these; 

  

	 	4.3.2	subject to rules 7 and 19.2 the number of Shares subject to the Award; 

  

	 	4.3.3	the terms of any Performance Condition or other condition; 

  

	 	4.3.4	the Vesting Date; 

  

	 	4.3.5	whether the Participant is entitled to receive any cash or shares in respect of dividends under rule 17.4 (for Options) or 18.3 (for Conditional Awards);

  

	 	4.3.6	the Award Date; and 

  

	 	4.3.7	in the case of an Option, the Option Price and the latest date on which the Option will lapse under rule 17.6.4; 

  

	 	4.3.8	which, if any, of the schedules to these rules will apply to the Award. 

 These terms will be set out in the deed referred to in rule 5.1. 
  

	5	Form of Awards 

  

	5.1	Award certificates 

 Awards will be granted by deed.

 Each Participant will be informed of the terms of his Award (to the extent not set out in the Plan) as soon as practicable after the Award
Date. This may be done by giving the Participant the deed referred to above (or a copy of it) or in such other manner (including by electronic means) as the Company may allow. 
 An Award of Forfeitable Shares will be subject to the Forfeitable Share Agreement. See rule 16 for more information on how Awards of Forfeitable Shares
are granted. 
  

	5.2	No payment 

 A Participant is not required to pay
for the grant of any Award. 
  

	5.3	Disclaimer of Award 

 Any Participant may disclaim
all or part of his Award at any time within 90 calendar days after the Award Date by notice in writing to any person nominated by the Grantor. If this happens, the Award will be deemed never to have been granted under the Plan. A Participant is not
required to pay for the disclaimer. A notice of disclaimer received on or after the 90th day after the Award Date shall have no effect. 
  
  
  

 6 

	6	No transfer of Awards 

 A Participant may not
transfer, assign or otherwise dispose of an Award or any rights in respect of it. If he does, whether voluntarily or involuntarily, then it will immediately lapse. This rule 6 does not apply: 
  

	 	(a)	to the transmission of an Award on the death of a Participant to his personal representatives; or 

  

	 	(b)	to the transfer, assignment or other disposal of an Award, with the prior consent of the Committee, subject to any terms and conditions the Committee imposes.

  

	7	Limits on the use of newly issued shares and treasury shares 

  

	7.1	10 % in 10 years limit 

 The number of Shares
which may be allocated under the Plan on any day must not exceed 10 per cent of the ordinary share capital of the Company in issue immediately before that day, when added to: 
  

	 	7.1.1	the number of Shares which have been allocated under the Plan in the previous 10 years and 

  

	 	7.1.2	the number of Shares which have been allocated on an all-employee basis, under the Plan and any other employee share plan operated by the Company, in the previous 10 years.

  

	7.2	5 % in 10 years limit 

 The number of Shares
which may be allocated under the Plan on any day must not exceed 5 per cent of the ordinary share capital of the Company in issue immediately before that day, when added to the number of Shares which have been allocated, other than on an
all-employee basis, under the Plan and any other employee share plan adopted by the Company, in the previous 10 years. 
  

	7.3	Exclusion 

  

	 	7.3.1	Where the right to acquire Shares is released or lapses, the Shares concerned are ignored when calculating the limits in this rule 7. 

  

	 	7.3.2	Shares allocated in connection with options, restricted shares, stock units or SARs granted under plans operated by AirTouch Communications, Inc prior to the merger between
the Company and AirTouch Communications, Inc will be ignored when calculating the limits in this rule 7. 

  

	7.4	Definitions for this rule 7 

  

	 	7.4.1	For the purposes of this rule 7, Shares are “allocated” if they have been issued or may be issued for the purposes of satisfying an Award. For so long as the
Committee considers that it is best practice to count treasury shares for the purposes of the limits in this rule 7, Shares are also “allocated” if they have been or may be transferred out of treasury for the purposes of satisfying Awards.

  
  
  

 7 

	 	7.4.2	For the purposes of this rule 7, Shares are allocated on an “all-employee basis” if they are offered or allocated: 

  

	 	(i)	by a Member of the Group to all or substantially all employees of that or any other Member of the Group on similar terms; or 

  

	 	(ii)	under an all-employee share plan. 

 For these purposes,
Shares may be allocated or offered on similar terms even though the terms on which they are offered or allocated may vary by reference to the employees’ remuneration, age, length of service or the country in which he works. 
  

	8	Normal Vesting of Awards 

  

	8.1	Time of vesting 

 Except where rules 9 or 10 apply,
an Award shall Vest on the latest of the following: 
  

	 	8.1.1	the date on which the Committee has determined the extent to which any Performance Condition and other conditions if applicable, are satisfied; 

  

	 	8.1.2	the Vesting Date; 

  

	 	8.1.3	the date on which any Dealing Restriction which prevent Vesting on the dates specified above ceases to apply. 

  

	8.2	Determination of Performance Condition 

 As soon as
reasonably practicable after the end of the Performance Period, the Committee will determine whether and to what extent any Performance Condition has been satisfied and how many Shares Vest for each Award. 
  

	8.3	Consequences of Vesting 

 The consequences of
Vesting for each type of Award are set out: 
  

	 	8.3.1	for Forfeitable Shares, in rule 16.7; 

  

	 	8.3.2	for Options in rule 17.5; 

  

	 	8.3.3	for Conditional Awards in rule 18.4. 

  

	9	Termination of Employment before Vesting Date and death 

  

	9.1	General rule on Termination of Employment 

 Unless
rule 9.2 applies, a Participant’s Award will lapse on Termination of Employment. 
  
  
  

 8 

	9.2	Termination of Employment in special circumstances 

  

	 	9.2.1	This rule 9.2.1 applies on Termination of Employment 90 calendar days or more after the Award Date by reason of: 

  

	 	(i)	redundancy, ill-health, injury or disability, as established to the satisfaction of the Company or the Participant’s employing company; 

  

	 	(ii)	death; 

  

	 	(iii)	the Participant’s employing company ceasing to be under the Control of the Company or a Member of the Group; 

  

	 	(iv)	a transfer of the undertaking, or the part of the undertaking, in which the Participant works to a person which is neither under the Control of the Company nor a Member of the
Group; 

  

	 	 (v)
	 retirement with the agreement of the Company or the Participant’s employing company1; 

  

	 	(vi)	any other reason, if the Committee so decides in general or in any particular case. 

  

	 	9.2.2	Where rule 9.2.1 applies, a Participant’s Award will not lapse on Termination of Employment but will Vest on the date of Termination of Employment.

  

	 	 9.2.3
	 The number of Shares in respect of which the Award Vests under rule 9.2.2 shall be reduced in accordance with the
following formula (provided that that number shall not exceed the number of Shares subject to the Award ):2 

  

									
		 	a	 	×	  	b  	  	
	 	 	  	c  	  	

 where: 
  

	 	a     =	the number of Shares subject to the Award; 

  

	 	b     =	the number of complete calendar months from the Award Date until the date of Termination of Employment; 

  
  

	 1
	 This clause only applies to Awards granted after 29 January 2007. The clause applicable to Awards granted before
that date reads “retirement in accordance with a Participant’s contract of employment or early retirement at age 60 or over with the agreement of the Company or the Participant’s employing company”. 

	 2
	 This clause applies to Awards granted after 25 January 2009. For Awards granted before that date: b = the
number of complete calendar months from the start of the Performance Period (or, if there is no Performance Condition, from the Award Date) until the date of Termination of Employment; c = the number of complete calendar months from the start
of the Performance Period (or, if there is no Performance Condition, from the Award Date) until the end of the Performance Period (or, if there is no Performance Condition, the Vesting Date). 

  
  
  

 9 

	 	c     =	the number of complete calendar months from the Award Date until the Vesting Date. 

 The Award shall immediately lapse as to the balance. 
 Unless the Committee decides otherwise, this rule
9.2.3 shall not apply to any Awards made on an all-employee basis (as defined in rule 7.4.2). 
  

	 	9.2.4	Where an Award which is subject to a Performance Condition Vests under rule 9.2.2, the Committee may decide that, in addition to the pro-rata reduction under that rule, it
will only Vest to the extent that any Performance Condition is satisfied on the Termination of Employment. Where it does so, the Committee will determine the extent to which the Performance Condition has been satisfied in the manner specified in the
Performance Condition or, if this is not specified in the Performance Condition, in such manner as it considers reasonable. The Award will immediately lapse to the extent that the Performance Condition is not satisfied. 

 However, if the Award Vests under this rule 9.2.4: 
  

	 	(i)	before the end of the financial year in which the Award is made, the Performance Condition will not be applied. Instead, the number of Shares in respect of which the Award Vests
shall be determined in accordance with the formula in rule 9.2.3 but “a” in that formula will be 50% of the number of Shares subject to the Award; or 

  

	 	 (ii)
	 after the end of the Performance Period but before the Vesting Date of On- cycle Awards related to that Performance
Period3, then the Award will not Vest on Termination of Employment but will Vest in accordance with rule 8.1, provided that, in respect of an
Off-cycle Award, the reference in rule 8.1.2 to the “Vesting Date” shall be deemed to refer to the Vesting Date of On-cycle Awards granted in the same financial year as the relevant Off-cycle Award. For the purposes of this rule 9.2.4(ii),
an “On-cycle Award” means an Award granted under the principal operation of the Plan in any particular financial year of the Company. Any other Award is an “Off-cycle Award.” 

  

	 	9.2.5	The Committee must exercise any discretion provided for in rules 9.2.1 to 9.2.4 within 90 calendar days after Termination of Employment and the Award will be deemed to have
lapsed or Vested (as appropriate) on the date of Termination of Employment. 

  

	 	9.2.6	The Committee may determine that an Award will not Vest in accordance with 9.2.2 but will continue in effect and Vest or lapse in accordance with its terms (including any
Performance Condition but not including this rule 9, (except in so far as it relates to death) and the number of Shares in respect of which it Vests will be reduced in the manner described in rule 9.2.3. 

  
  

	 3
	 The words “but before the Vesting Date of On-cycle Awards related to that Performance Period” apply to Awards
granted after 25 January 2009. For Awards granted before that date, the applicable wording was “but before the Committee has announced whether or not the Performance Conditions have been satisfied”. 

  
  
  

 10 

	9.3	Sale of Shares on Vesting of all-employee Awards 

 Unless the Committee decides otherwise, on the Vesting of an Award made on an all-employee basis (as defined in rule 7.4.2) under this rule 9, the Shares to which the Participant is entitled will be sold on his behalf and the proceeds
remitted to the Participant as soon as practicable after the date of Termination of Employment. 
  

	10	Takeovers and restructurings 

  

	10.1	Takeover 

  

	 	10.1.1	Where a person (or a group of persons acting in concert) obtains Control of the Company as a result of making an offer to acquire Shares, an Award will Vest, subject to rule
10.1.3, on the date the person obtains Control but only to the extent that any Performance Condition has been satisfied. The Award will lapse as to the balance. 

  

	 	10.1.2	Where an Award vests under rule 10.1.1, the Committee will determine the extent to which any Performance Condition has been satisfied in the manner specified in the
Performance Condition or, if this is not specified in the Performance Condition, in such manner as they consider reasonable. In addition, the Committee may decide that the extent to which an Award will Vest will be further reduced pro rata to
reflect the acceleration of Vesting. 

  

	 	10.1.3	An Award will not Vest under rule 10.1.1 but will be exchanged under rule 11 (Exchange of Awards): 

  

	 	(i)	if a Participant accepts an offer to exchange his Award; or 

  

	 	(ii)	if the Committee, with the consent of the Acquiring Company, decides, before the person obtains Control, that the Awards will be automatically exchanged; 

 

	 	(iii)	if the shareholders of the Acquiring Company, immediately after it has obtained Control, are substantially the same as the shareholders of the Company before it obtained Control.

 Rule 10.1.3(iii) will not apply if the Committee considers that there are exceptional circumstances. 
  

	10.2	Scheme of arrangement 

  

	 	10.2.1	If, under section 425 of the Companies Act 1985, a court sanctions a compromise or arrangement in connection with the acquisition of Shares, an Award will Vest on the date of
court sanction but only to the extent that any Performance Condition has been satisfied. The Award will lapse as to the balance. This rule 10.2 also applies where there is an equivalent procedure under any non-UK legislation.

  

	 	10.2.2	Where an Award vests under rule 10.2.1, the Committee will determine the extent to which any Performance Condition has been satisfied in the manner specified in the
Performance Condition or, if this is not specified in the Performance Condition, in such manner as they consider reasonable. In addition, the Committee may decide that the 

  
  
  

 11 

	 	    	number of Shares in respect of which the Award will Vest will be reduced pro rata to reflect the acceleration of Vesting. 

  

	 	10.2.3	An Award will not Vest under rule 10.2.1 but will be exchanged under rule 11 (Exchange of Awards): 

  

	 	(i)	if the Participant accepts an offer to exchange his Award; or 

  

	 	(ii)	if the Committee, with the consent of the Acquiring Company, decides before court sanction, that the Awards will be automatically exchanged; 

  

	 	(iii)	if the shareholders of the Acquiring Company, immediately after the effective date of the compromise, arrangement or procedure, are substantially the same as the shareholders of the
Company before the effective date. 

 Rule 10.2.3(iii) will not apply if the Committee considers that there are exceptional
circumstances. 
  

	10.3	Demerger or other corporate event 

  

	 	10.3.1	If the Committee becomes aware that the Company is or is expected to be affected by any demerger, distribution (other than an ordinary dividend) or other transaction not
falling within rules 10.1 (Takeover), or 10.2 (Scheme of arrangement) which, in the opinion of the Committee, would affect the current or future value of any Award, the Committee may allow an Award to Vest but only to the extent that any Performance
Condition has been satisfied and subject to any other conditions the Committee may decide to impose. The Award will lapse as to the balance. 

  

	 	10.3.2	Where an Award Vests under rule 10.3.1, the Directors will determine the extent to which any Performance Condition has been satisfied and the proportion of the Award which
will Vest in the manner specified in the Performance Condition or, if this is not specified in the Performance Condition, in such manner as they consider reasonable. In addition, the Directors may decide that the number of Shares in respect of which
the Award will Vest will be reduced pro rata to reflect the acceleration of Vesting. 

  

	 	10.3.3	The Company will notify any Participant who is affected by the Committee exercising their discretion under this rule 10.3. 

  

	10.4	Composition of the Committee for this rule 10 

 In
this rule 10, the “Committee” means those people who were members of the remuneration committee of the Company immediately before the change of Control. 
  

	10.5	Overseas transfer 

 If a Participant is transferred
to work in another country and, as a result of that transfer, he would: 
  

	 	10.5.1	suffer a tax disadvantage in relation to his Awards (this being shown to the satisfaction of the Committee); or 

  
  
  

 12 

	 	10.5.2	become subject to restrictions on his ability to deal with his Awards or to hold or deal in the Shares or the proceeds of the sale of the Shares acquired on vesting or
exercise because of the security laws or exchange control laws of the country to which he is transferred 

 then, if the
Participant continues to hold an office or employment with a Member of the Group, the Committee may decide that the Awards will Vest on a date they choose before or after the transfer takes effect. The Award will Vest to the extent they permit and
will not lapse as to the balance. 
  

	11	Exchange of Awards 

  

	11.1	Timing of exchange 

 If an Award is to be exchanged
under rule 10 (Takeovers and restructuring) the exchange will take place as soon as practicable after the relevant event. 
  

	11.2	Terms of exchange 

 Where a Participant is granted a
new award in exchange for an existing Award, the new Award: 
  

	 	11.2.1	must confer a right to acquire shares in the Acquiring Company or another body corporate determined by the Acquiring Company; 

  

	 	11.2.2	subject to the rest of this rule 11, will be governed by the same terms as applied to the existing Award immediately before exchange; 

  

	 	11.2.3	must be equivalent to the existing Award, subject to rule 11.2.5; 

  

	 	11.2.4	will be treated as having been acquired at the same time as the existing Award and, subject to rule 11.2.5, will Vest in the same manner and at the same time;

  

	 	11.2.5	must either: 

  

	 	(i)	be subject to a Performance Condition which is, in the opinion of the Committee, equivalent to any Performance Condition applying to the existing Award; or 

 

	 	(ii)	not be subject to any Performance Condition but be in respect of the number of shares which is equivalent to the number of Shares comprised in the existing Award which would have
Vested under rule 10.1, 10.2 or 10.3 (in which case, the Award will lapse as to the balance); 

  

	 	11.2.6	will be governed by the Plan as if references to Shares were references to the shares over which the new award is granted and references to the Company were references to the
Acquiring Company or the body corporate determined under rule 11.2.1. 

  
  
  

 13 

	12	Tax 

  

	12.1	Withholding of tax 

 The Company, the Grantor, any
employing company or the trustee of any employee benefit trust may withhold such amount and make such arrangements as it considers necessary to meet any liability to taxation or social security contributions in respect of an Award. These
arrangements may include the sale of Shares on behalf of a Participant or a reduction in number of Shares to which the Participant would otherwise be entitled, unless, in either case, the Participant discharges the liability himself. 
  

	12.2	Elections to transfer social security liabilities 

 The Participant must, if required by the Grantor or the Company to do so, enter into any election to transfer the liability to employer social security contributions in respect of an Award. The Grantor shall not be required to issue or
transfer any Shares or make any cash payment under the Plan until he does so. 
  

	13	General 

  

	13.1	Committee’s decisions final and binding 

 The
decision of the Committee on the interpretation of the Plan or in any dispute relating to an Award or matter relating to the Plan will be final and conclusive. 
  

	13.2	Documents sent to shareholders 

 The Company may
send to Participants copies of any documents or notices normally sent to the holders of its Shares at or around the same time as issuing them to the holders of its Shares. 
  

	13.3	Regulations 

 The Committee can make or vary
regulations for the administration and operation of the Plan but these must be consistent with its rules. 
  

	13.4	Terms of employment 

  

	 	13.4.1	For the purposes of this rule 13.4, “Employee” means any person who is or will be eligible to be a Participant or any other person. 

 

	 	13.4.2	This rule 13.4 applies: 

  

	 	(i)	whether the Company has full discretion in the operation of the Plan, or whether the Company could be regarded as being subject to any obligations in the operation of the Plan;

  

	 	(ii)	during an Employee’s employment or employment relationship; and 

  

	 	(iii)	after the termination of an Employee’s employment or employment relationship, whether the termination is lawful or unlawful. 

  
  
  

 14 

	 	13.4.3	Nothing in the rules or the operation of the Plan forms part of the contract of employment or employment relationship of an Employee. The rights and obligations arising from
the employment relationship between the Employee and the Company are separate from, and are not affected by, the Plan. Participation in the Plan does not create any right to, or expectation of, continued employment or a continued employment
relationship. 

  

	 	13.4.4	The grant of Awards on a particular basis in any year does not create any right to or expectation of the grant of Awards on the same basis, or at all, in any future year.

  

	 	13.4.5	No Employee is entitled to participate in the Plan, or be considered for participation in it, at a particular level or at all. Participation in one operation of the Plan does
not imply any right to participate, or to be considered for participation in any later operation of the Plan. 

  

	 	13.4.6	Without prejudice to an Employee’s right in respect of an Award subject to and in accordance with the express terms of the Plan and the Performance Condition, no
Employee has any rights in respect of the exercise or omission to exercise any discretion, or the making or omission to make any decision, relating to the Award. Any and all discretions, decisions or omissions relating to the Award may operate to
the disadvantage of the Employee, even if this could be regarded as capricious or unreasonable, or could be regarded as in breach of any implied term between the Employee and his employer, including any implied duty of trust and confidence. Any such
implied term is excluded and overridden by this rule 13.4. 

  

	 	13.4.7	No Employee has any right to compensation for any loss in relation to the Plan, including: 

  

	 	(i)	any loss or reduction of any rights or expectations under the Plan in any circumstances or for any reason (including lawful or unlawful termination of employment or the employment
relationship); 

  

	 	(ii)	any exercise of a discretion or a decision taken in relation to an Award or to the Plan, or any failure to exercise a discretion or take a decision; 

  

	 	(iii)	the operation, suspension, termination or amendment of the Plan. 

  

	 	13.4.8	Participation in the Plan is permitted only on the basis that the Participant accepts all the provisions of its rules, including in particular this rule 13.4. By
participating in the Plan, an Employee waives all rights under the Plan, other than the right to acquire shares subject to and in accordance with the express terms of the Plan and the Performance Condition, in consideration for, and as a condition
of, the grant of an Award under the Plan. 

  

	 	13.4.9	Nothing in this Plan confers any benefit, right or expectation on a person who is not an Employee. No such third party has any rights under the Contracts (Rights of Third
Parties) Act 1999 to enforce any term of this Plan. This does not affect any other right or remedy of a third party which may exist. 

  

	 	13.4.10	Each of the provisions of this rule 13.4 is entirely separate and independent from each of the other provisions. If any provision is found to be invalid then it will be
deemed never 

  
  
  

 15 

	 	    	to have been part of these rules and to the extent that it is possible to do so, this will not affect the validity or enforceability of any of the remaining provisions.

  

	13.5	Employee trust 

 Subject to rule 13.6, the Company
and any Subsidiary of the Company may provide money to the trustee of any trust or any other person to enable them or him to acquire shares to be held for the purposes of the Plan, or enter into any guarantee or indemnity for those purposes, to the
extent permitted by Section 153 of the Companies Act 1985. 
  

	13.6	Satisfying Awards to employees of JV Companies 

 Notwithstanding the terms of any Award or any other term of the Plan, no Award made to an employee of a JV Company shall be satisfied in any way which would involve the Company or any Subsidiary giving financial assistance (as defined in
Chapter VI of Part V of the Companies Act 1985) directly or indirectly for the purpose of satisfying the Award, unless that financial assistance is permitted under UK legislation at that time. 
  

	13.7	Data protection 

 By participating in the Plan the
Participant consents to the holding and processing of personal data provided by the Participant to the Company or a Member of the Group for all purposes relating to the operation of the Plan. These include, but are not limited to: 
  

	 	13.7.1	administering and maintaining Participant records; 

  

	 	13.7.2	providing information to trustees of any employee benefit trust, registrars, brokers or third party administrators of the Plan; 

  

	 	13.7.3	providing information to future purchasers of the Company or the business in which the Participant works; 

  

	 	13.7.4	transferring information about the Participant to a country or territory outside the European Economic Area. 

  

	13.8	Consents 

 All allotments, issues and transfers of
Shares will be subject to any necessary consents under any relevant enactments or regulations for the time being in force in the United Kingdom or elsewhere. The Participant will be responsible for complying with any requirements he needs to fulfil
in order to obtain or avoid the necessity for any such consent. 
  

	13.9	Articles of association 

 Any Shares acquired under
the Plan are subject to the articles of association of the Company from time to time in force. 
  

	13.10	Rights attaching to Shares 

 Shares issued on
Vesting or exercise of an Award will rank equally in all respects with the Shares in issue on the date of allotment. They will not rank for any rights attaching to Shares by 
  
  
  

 16 

 
reference to a record date preceding the date of allotment. Where Shares are transferred, including transferred out of treasury, the Participant will be
entitled to all rights attaching to the Shares by reference to a record date on or after the transfer date. The Participant will not be entitled to rights before that date. 
  

	13.11	Listing of Shares 

 If and so long as the Shares are
listed on the Official List of the UK Listing Authority and traded on the London Stock Exchange, the Company will apply for listing of any Shares issued under the Plan as soon as practicable. 
  

	13.12	Notices 

  

	 	13.12.1	Any notice or other document which has to be given to a person who is or will be eligible to be a Participant under or in connection with the Plan may be:

  

	 	(i)	delivered or sent by post to him at his home address according to the records of his employing company or such other address as the Company or a Member of the Group considers
appropriate; or 

  

	 	(ii)	sent by e-mail or fax to any e-mail address or fax number which according to the records of his employing company is used by him; 

  

	 	(iii)	given by any other electronic means (including the updating of a personalised web-page) allowed by the Company. 

  

	 	13.12.2	Any notice or other document which has to be given to the Company or other duly appointed agent under or in connection with the Plan may be delivered or sent by post to it at
its registered office (or such other place as the Committee or duly appointed agent may from time to time decide and notify to Participants) or sent by e-mail or fax to any e-mail address or fax number notified to the Participant.

 Notices sent by post will be deemed to have been given on the second day after the date of posting. However, notices sent by
or to a Participant who is working overseas will be deemed to have been given on the seventh day after the date of posting. Notices sent by e-mail or fax, in the absence of evidence to the contrary, will be deemed to have been received on the day
after sending. 
  

	14	Changing the Plan and termination 

 The Committee
may amend the Plan by resolution. But no amendment which would be to the advantage of present or future Participants may be made without prior approval of the Company in general meeting to the provisions relating to eligibility, overall limits,
maximum individual entitlement or the adjustment of Awards following a variation of share capital, except for minor amendments to benefit the administration of the Plan, to take account of a change in legislation or to obtain or maintain favourable
tax, exchange control or regulatory treatment for participants or any Member of the Group or in accordance with rule 4.1.3 or 4.2.2. 
 The
Committee may give written notice (by electronic means or otherwise) of any changes made to any Participant affected. 
  
  
  

 17 

	15	Governing law and jurisdiction 

 English law governs
the Plan and all Awards and their construction. The English Courts have non-exclusive jurisdiction in respect of disputes arising under or in connection with the Plan or any Award. 
  

	16	Special terms for Forfeitable Shares 

  

	16.1	Granting an Award of Forfeitable Shares 

 A
Participant who is granted an Award of Forfeitable Shares must enter into an agreement with the Grantor that: 
  

	 	16.1.1	to the extent that the Award lapses under the Plan, the Shares will forfeited and he will immediately transfer his interest in the Shares to the Grantor or as the Grantor may
direct, for no consideration or nominal consideration, to any person (which may include the Company, where permitted) specified by the Grantor; and 

  

	 	16.1.2	he will not transfer, assign or dispose of any Forfeitable Shares or any rights in respect of them before Vesting and if he does his Award will lapse except in the case of:

  

	 	(i)	the transmission of his Forfeitable Shares on his death to his personal representatives; or 

  

	 	(ii)	the transfer, assignment or other disposal of his Forfeitable Shares, with the prior consent of the Committee, subject to any terms and conditions the Committee may impose.

 The Participant must also sign any other documentation, including a power of attorney or blank stock transfer form, requested
by the Grantor. 
 If he does not sign the Forfeitable Share Agreement or any other documents requested by the Grantor within a period
specified by the Grantor, the Award will lapse at the end of that period. 
  

	16.2	Transfer of shares on Award 

 On or after the grant
of an Award of Forfeitable Shares, the Grantor will procure that the relevant number of Shares are transferred to the Participant or to another person to be held for the benefit of the Participant under the terms of the Plan. 
  

	16.3	Tax elections 

 The Participant must enter into any
elections in relation to Forfeitable Shares required by the Grantor or the Company, including elections under Part 7 of the Income Tax (Earnings and Pensions) Act 2003. If he does not do so within a period specified by the Grantor or the Company,
the Award will lapse at the end of that period. 
  

	16.4	Retention of share certificates 

 The Grantor or the
Company may retain the share certificates or other documents of title relating to any Forfeitable Shares until an Award of Forfeitable Shares Vests. 
  
  
  

 18 

	16.5	Voting and dividends 

 Except to the extent
specified in the Forfeitable Share Agreement, the Participant will be entitled to vote (or instruct any person holding the Forfeitable Shares on his behalf how to vote) and to receive dividends and will have all other rights of a shareholder in
respect of Forfeitable Shares where the record date for the right falls on or after the date on which the Forfeitable Shares are issued or transferred to him. 
  

	16.6	Variations in share capital, rights issues, demergers etc 

 If there is: 
  

	 	16.6.1	a variation in the equity share capital of the Company, including a capitalisation, sub-division, consolidation or reduction of share capital; or 

  

	 	16.6.2	a rights issue; or 

  

	 	16.6.3	a demerger (in whatever form) or exempt distribution by virtue of Section 213 of the Income and Corporation Taxes Act 1988; or 

  

	 	16.6.4	a special dividend or distribution, 

 the
Participant will, subject to the Forfeitable Share Agreement, have the same rights as any other shareholder in respect of his Forfeitable Shares. Any shares, securities or rights allotted to a Participant as a result of such an event shall be:

  

	 	16.6.5	treated as if they were awarded to the Participant under the Plan in the same way and at the same time as the Forfeitable Shares in respect of which the rights were
conferred; and 

  

	 	16.6.6	subject to the rules of the Plan and the terms of the Forfeitable Share Agreement. 

 However, securities bought by a Participant pursuant to a rights issue will not be treated as described in rules 16.6.5 and 16.6.6 except to the extent they are bought using the proceeds of sale of rights under that
rights issue. 
  

	16.7	Consequences of Vesting for Forfeitable Shares 

 To
the extent that an Award of Forfeitable Shares Vests, the Forfeitable Share Agreement will cease to apply to the Shares. If the Shares are held by any person for the benefit of the Participant, that person may transfer the Shares to or to the order
of the Participant. 
  

	16.8	Consequences of lapse for Forfeitable Shares 

 To
the extent that an Award of Forfeitable Shares lapses, the Participant shall transfer his interest in the Shares as described in the Forfeitable Share Agreement. 
  
  
  

 19 

	17	Special terms for Options 

  

	17.1	Option Price 

 The Option Price of an Option shall
be set by the Grantor at the date of Award and: 
  

	 	17.1.1	in the case of a Nil-Cost Option, may be zero or any other amount; 

  

	 	17.1.2	in the case of a Market Value Option over Shares, shall not be less than: 

  

	 	(i)	the closing middle market quotation of a Share (taken from the Daily Official List of the London Stock Exchange) on the Business Day immediately preceding the Award Date; or

  

	 	(ii)	if the Committee so decides, the average of the closing middle market quotations of a Share (taken from the Daily Official List of the London Stock Exchange) over the 5 Business
Days before the Award Date. 

  

	 	17.1.3	in the case of a Market Value Option over ADSs shall not be less than the closing price of an ADS on the New York Stock Exchange on or averaged over the period specified in
rule 17.1.2; or 

  

	 	17.1.4	in the case of a Market Value Option which is intended to qualify for any favourable tax treatment, may be determined in accordance with any other formula related to the
Market Value of a Share or an ADS which will enable the Option to qualify for that favourable tax treatment. 

  

	17.2	Variations in share capital, demergers and special distributions 

 If there is: 
  

	 	17.2.1	a variation in the equity share capital of the Company, including a capitalisation, sub-division, consolidation or reduction of share capital; or 

  

	 	17.2.2	a rights issue; or 

  

	 	17.2.3	a demerger (in whatever form) or exempt distribution by virtue of Section 213 of the Income and Corporation Taxes Act 1988; or 

  

	 	17.2.4	a special dividend or distribution; 

 the Committee
may: 
  

	 	17.2.5	adjust the number of type of shares or securities comprised in an Option; and/or 

  

	 	17.2.6	adjust the Option Price; and/or 

  

	 	17.2.7	change of identity of the Company or Companies whose Shares are subject to the Option. 

 This may include retrospective adjustments. 
  
  
  

 20 

 The Option Price of a Market Value Option to subscribe for Shares may be adjusted to a price less than
nominal value only if the Committee resolves to capitalise the reserves of the Company, subject to any necessary conditions. This capitalisation will be of an amount equal to the difference between the adjusted Option Price payable for the Shares to
be issued on exercise and the nominal value of such Shares on the date of allotment of the Shares. If, at the time of exercise, the Committee does not resolve to capitalise the reserves of the Company for this purpose then the adjustment under this
rule 17.2 will be deemed not to have taken place. 
  

	17.3	Voting and dividends 

 A Participant shall not be
entitled to vote, to receive dividends or to have any other rights of a shareholder in respect of Shares subject to an Option until the Shares are issued or transferred to the Participant. 
  

	17.4	Dividend equivalent 

 An Option may include the
right (subject to rule 12 (Tax)) to receive cash or Shares (as determined by the Grantor) equal in value to the amount per Share of any dividend the record date for which falls between the Award Date and the date of exercise and multiplied by the
number of Shares subject to the Option. These payments may be made: 
  

	 	17.4.1	to the extent only and as soon as practicable after the Option is exercised; or 

  

	 	17.4.2	as soon as practicable after the relevant dividend is paid. 

 Unless otherwise specified at the Award Date, the amount paid will be calculated on the basis of the amount paid to an individual shareholder who is resident and domiciled in the UK for all tax purposes. 
  

	17.5	Consequences of Vesting for Options 

 A Participant
may exercise an Option, to the extent it has Vested, at any time after it has Vested. 
  

	17.6	Periods for exercise of Options 

 Subject to rule
17.7, an Option which has Vested will be exercisable: 
  

	 	17.6.1	where it has Vested as a result of the Participant ceasing to be an employee (see rule 9), for twelve months from the date of Termination of Employment;

  

	 	17.6.2	where it has Vested as a result of the Participant’s death (see rule 9.2.1(ii)), for 12 months from his death; 

  

	 	17.6.3	where the Option has Vested under rule 10 (e.g. as a result of a takeover or reconstruction), for six months from the date of Vesting or, if earlier, the date six weeks after
the date on which a notice to acquire Shares under section 429 of the Companies Act 1985 or any other equivalent local legislation is first served; and 

  

	 	17.6.4	in all other cases for six months from the date of Vesting of a Nil-Cost Option or for 10 years after the Award Date of a Market Value Option (or such shorter period as the
Committee may specify on grant). 

  
  
  

 21 

 Where a Participant dies during an exercise period the Option will be exercisable for 12 months from the
date of death. This rule 17.6 does not extend the exercise period of an Option which has Vested under rule 10. 
  

	17.7	Lapse of Options 

 An Option will lapse at the end
of any exercise period specified in rule 17.6. 
 For the avoidance of doubt: 
  

	 	17.7.1	an Option can lapse under rule 9.1 even though it may have previously Vested; 

  

	 	17.7.2	in the event of any conflict, the provision of these rules (including any schedules) which results in the Option ceasing to be exercisable or lapsing earliest shall take
precedence. 

  

	17.8	Manner of exercise 

 Options must be exercised by
notice in writing or in a form specified by the Company and delivered to the Company or other duly appointed agent or by telephone or by other electronic means approved by the Company. The notice of exercise of the Option must be completed, signed
(in manuscript or in any other form that may be specified by the Company) by the Participant or by his appointed agent, and must be accompanied by: 
  

	 	17.8.1	the relevant option certificate (if required by the Company); and 

  

	 	17.8.2	correct payment in full of the Option Price for the number of Shares being acquired or details of arrangements agreed between the Participant and the Company made for the
payment of the Option Price for the number of Shares being acquired. 

  

	17.9	Issue or transfer of Shares after exercise 

 Subject
to rule 12 and 18.5, Shares will be issued or transferred (from treasury or otherwise) to or to the order of the Participant within 30 calendar days of the date of receipt of payment of the Option Price and the documents required under rule 17.8.

 However, if the issue or transfer is prevented by any Dealing Restrictions, the Shares will be issued or transferred as soon as is
practicable following the lifting of the Dealing Restrictions. 
  

	17.10	Other ways of satisfying an Option (e.g. SARs) 

 The
Grantor, subject to the approval of the Committee, may decide to satisfy an Option by: 
  

	 	17.10.1	paying (subject to rule 12 (Tax)) a cash amount which is equal to the amount by which the market value of the Shares in respect of which the Option is exercised, as at date
of exercise, exceeds the Option Price; or 

  

	 	17.10.2	procuring the issue or transfer of Shares to the value of the cash amount specified above. 

 If the Committee does this, the Participant need not pay the Option Price or, if he has paid it, the Company will repay it to him. 
  
  
  

 22 

 The Grantor may determine that Awards will be satisfied in cash at the Award Date or at any time
subsequently. 
  

	18	Special terms for Conditional Awards 

  

	18.1	Variations in share capital, demergers and special distributions 

 If there is: 
  

	 	18.1.1	a variation in the equity share capital of the Company, including a capitalisation, sub-division, consolidation or reduction of share capital; or 

  

	 	18.1.2	a rights issue; or 

  

	 	18.1.3	a demerger (in whatever form) or exempt distribution by virtue of Section 213 of the Income and Corporation Taxes Act 1988; or 

  

	 	18.1.4	a special dividend or distribution; 

 The Committee
may: 
  

	 	18.1.5	adjust the number of type of shares or securities comprised in a Conditional Award; and/or 

  

	 	18.1.6	change of identity of the company or companies whose shares are subject to the Option. 

 This may include retrospective adjustments. 
  

	18.2	Voting and dividends 

 A Participant shall not be
entitled to vote, to receive dividends or to have any other rights of a shareholder in respect of Shares subject to a Conditional Award until the Shares are issued or transferred to the Participant. 
  

	18.3	Dividend equivalent 

 A Conditional Award may
include the right (subject to rule 12 (Tax)) to receive cash or Shares (as determined by the Grantor) equal in value to the amount per Share of any dividend the record date for which falls between the Award Date and the date of Vesting and
multiplied by the number of Shares subject to the Conditional Award. These payments may be made: 
  

	 	18.3.1	to the extent only and as soon as practicable after the Conditional Award Vests; or 

  

	 	18.3.2	as soon as practicable after the relevant dividend is paid. 

 Unless otherwise specified at the Award Date, the amount paid will be calculated on the basis of the amount paid to an individual shareholder who is resident and domiciled in the UK for all tax purposes. 
  
  
  

 23 

	18.4	Consequences of Vesting for Conditional Awards 

 Subject to rules 12, 18.5 and 18.6, Shares will be issued or transferred (from treasury or otherwise) to or to the order of the Participant within 30 calendar days of the date of Vesting of a Conditional Award. 
 However, if the issue or transfer is prevented by any Dealing Restrictions, the Shares will be issued or transferred as soon as is practicable following
the lifting of the Dealing Restrictions. 
  

	18.5	Cash alternative 

 The Grantor, subject to the
approval of the Committee, may decide to satisfy a Conditional Award by paying (subject to rule 12 (Tax)) a cash amount equal to the market value of the Shares subject to the Conditional Award. 
  

	18.6	Sale of Shares on Vesting of all-employee Awards 

 Unless the Committee decides otherwise, and subject to rule 9.3, on the Vesting of an Award made on an all-employee basis (as defined in rule 7.4.2), the Participant will, subject to 12.1, be given the choice to either sell all of the
Shares to which he is entitled, or to have all such Shares issued or transferred to him. If the Participant does not register his choice in the manner prescribed by the Committee, the Shares to which he is entitled will be sold on his behalf and the
proceeds remitted to the Participant as soon as practicable after the Vesting Date. 
  

	19	Special provisions for Directors 

 This rule 19
applies, notwithstanding anything else in the rules or any schedule, to any Award made to a person who, on the Award Date, is a Director. 
  

	19.1	Performance Conditions for all Awards to Directors 

 Except where the Award was made on an all-employee basis (as defined in rule 7.4.2), the Grantor shall always make Vesting of an Award granted to a Director conditional on the satisfaction of one or more conditions linked to the performance
of the Company as described in rule 4.1. 
  

	19.2	Individual limits for Directors 

 To ensure that
there is strong linkage between pay and performance, the majority of the Directors total remuneration is delivered by performance linked incentive plans. Except where the Committee determines that exceptional circumstances apply in the case of a
significant recruit the maximum Expected Value of all Awards made to a Director in any financial year shall not exceed 400% of base salary as at the Award Date. 
 Awards shall be excluded from the calculations under this rule 19.2 if they are made on an all-employee basis within the meaning of rule 7.4.2. 
  

	19.3	Vesting on leaving employment 

 Where a
Director’s Award is to Vest because rule 9.2.1 (Termination of Employment in special circumstances) applies, the Award will only Vest to the extent that the Performance Condition is 
  
  
  

 24 

 satisfied on the date of Termination of Employment (as described in rule 9.2.4) and will lapse as to the
balance. 
 For the avoidance of doubt: 
  

	 	19.3.1	the number of Shares in respect of which the Award Vests will also be reduced in accordance with rule 9.2.3; and 

  

	 	19.3.2	the Committee may determine that the Award will not Vest but will continue in effect in accordance with rule 9.2.6. 

  
  
  

 25 

 Italy 
 Schedule 1 
 United Kingdom – Tax-Favoured Options 
 The Grantor may designate any Market Value Option (which is not capable of satisfaction as a SAR or in cash) as an Approved Option. If it does, the
provisions of the rules relating the Market Value Options will apply to the Approved Option, subject to this Schedule. No other types of Awards may be designated as Approved Options under this Schedule. 
 The terms of Approved Options have been approved by HMRC under Schedule 4 of ITEPA under reference number X23006/EJM. 
  

	1	Eligibility to be granted Approved Options 

 Approved Options may only be granted to an employee of: 
  

	1.1	the Company; 

  

	1.2	Subsidiary; 

  

	1.3	any jointly-owned company (within the meaning of paragraph 34 ITEPA) designated by the Committee; or 

  

	1.4	any other entity designated by the Committee and agreed by HMRC, 

 and cannot be granted to anybody who is: 
  

	1.5	excluded from participation because of paragraph 9 of ITEPA (material interest provisions); or 

  

	1.6	a director who is required to work less than 25 hours a week (excluding meal breaks) for the Company. 

  

	2	Shares subject to an Approved Option 

 The Shares
subject to an Approved Option must satisfy paragraphs 16 to 20 of ITEPA. If they cease to satisfy paragraphs 16 to 20 of ITEPA and the Committee notify HMRC that they wish the terms of Approved Options to be disapproved, the definition of the Option
will continue in effect but the Option will cease to be an Approved Option and will be treated, for the purposes of the rules, as a Market Value Option. 
  

	3	Individual limit on Approved Options 

 The Committee
must not grant an Approved Option to an Eligible Employee which would cause the aggregate market value of: 
  

	3.1	the Shares subject to that Approved Option; and 

  

	3.2	the Shares which he may acquire on exercising other Approved Options; and 

  
  
 A04524454/15.9/01/20/2009 10/54/14 
  

 26 

 Italy 
  

	3.3	the shares which he may acquire on exercising his options under any other HMRC approved discretionary scheme established by the Company or by any of its associated companies
(as defined in paragraph 35 of ITEPA) 

 to exceed the amount permitted under paragraph 6(1) of ITEPA (currently
£30,000). For the purposes of this paragraph, market value is calculated as at the date of grant of the options as described in the relevant plan rules. 
 If the Committee tries to grant an Approved Option which is inconsistent with this paragraph 3, the Approved Option will be limited and will take effect from the Award Date on a basis consistent with that rule.

  

	4	Transferring Approved Options 

 An Approved Option
cannot be transferred, assigned or otherwise disposed of, except on the transmission of the Approved Option on the death of a Participant to his personal representatives. 
  

	5	Variations in share capital, demergers and special distributions 

  

	5.1	Adjustments may not be made to Approved Options under rule 17.2 where there is a demerger (in whatever form), an exempt distribution by virtue of Section 213 of the
Income and Corporation Taxes Act 1988 or a special dividend or distribution. 

  

	5.2	The Committee cannot treat an Approved Option as being over shares in any other company under rule 17.2. 

  

	5.3	No adjustment of Approved Options may be made under rule 17.2 without the prior approval of HMRC. 

  

	6	Restrictions on exercise of an Approved Option 

 A
Participant may not exercise an Approved Option while he is excluded from being granted an Approved Option under paragraph 9 of ITEPA (material interest provisions). 
  

	7	Specified Age and redundancy 

 For the purposes of
paragraph 35A of ITEPA, the specified age is 55 and redundancy, for the purposes of rule 9.2.1(i), has the meaning given to that term by the Employment Rights Act 1996. 
  

	8	Death 

 If the Participant dies (irrespective of the
death occurring during an exercise period), the Approved Option may be exercised by his personal representatives within 12 months after his death, after which it will lapse. 
  

	9	Discretion on Vesting, exercise and lapse of Approved Options 

  

	9.1	The Committee may extend the period during which an Approved Option may be exercised where it has Vested as a result of the Participant ceasing to be an employee (see rule 9)
up to 42 months from the Award Date. 

  
  
  

 27 

 Italy 
  

	9.2	If the Committee exercise any discretion under rules 4.1.2, 4.1.3, 9 or 10 in relation to an Approved Option or under paragraph 9.1 above, they must do so fairly and
reasonably. The words “That decision need not be made on objective grounds” in rule 4.1.2 do not apply in relation to Approved Options. 

  

	9.3	The following replaces rule 4.2.2 in relation to Approved Options: 

 In exceptional circumstances, the Grantor, with the approval of the Committee, may amend or waive these conditions if anything happens which causes the Committee fairly and reasonably to consider it appropriate.

  

	9.4	Rule 17.7.2 does not apply in relation to Approved Options. 

  

	9.5	Rules 9.3 and 18.6 do not apply in relation to Approved Options. 

  

	10	Exchange of Approved Options 

  

	10.1	If HMRC approval of the terms of Approved Options is to be maintained, Approved Options can only be exchanged, as described in rule 11, if the Acquiring Company:

  

	 	10.1.1	obtains Control of the Company as a result of making a general offer to acquire: 

  

	 	(i)	the whole of the issued ordinary share capital of the Company (other than that which is already owned by it and its subsidiary or holding company) made on a condition such that, if
satisfied, the Acquiring Company will have Control of the Company; or 

  

	 	(ii)	all the Shares (or all those Shares not already owned by the Acquiring Company or its subsidiary or holding company); or 

  

	 	10.1.2	obtains Control of the Company under a compromise or arrangement sanctioned by the court under Section 425 of the Companies Act 1985 or other local sanction procedure
which the HMRC agrees is equivalent; or 

  

	 	10.1.3	becomes bound or entitled to acquire Shares under Sections 428 to 430F of the Companies Act 1985 or other local legislation which HMRC agrees is equivalent.

  

	10.2	Approved Options must be exchanged within the period referred to in paragraph 26(2) of ITEPA and with the agreement of the company offering the exchange.

  

	10.3	The new Award will be in respect of shares which satisfy the conditions of paragraph 27(4) of ITEPA, in a body corporate falling within paragraph 16(b) or (c) of
ITEPA). 

  

	11	Takeovers and Restructurings 

  

	11.1	Rules 10.1.3(ii) and 10.2.3(ii) do not apply. 

  

	11.2	The words “subject to any other conditions the Committee may decide to impose” in rule 10.3.1 do not apply in relation to Approved Options.

  
  
  

 28 

 Italy 
  

	12	Cash alternative 

 Rule 17.10 does not apply in
relation to Approved Options. 
  

	13	Changing the terms of Approved Options 

  

	13.1	The Committee need not obtain the approval of the Company in general meeting for any minor changes which are necessary or desirable in order to obtain or maintain HMRC
approval for the terms of Approved Options under ITEPA any other enactment. 

  

	13.2	If HMRC approval of the terms of Approved Options is to be maintained, any change to the Plan under rule 14 which requires HMRC approval and which is made after it has been
approved under ITEPA will only have effect when it is approved by HMRC. 

  

	14	Withholding of tax 

 The words “or a reduction
in number of shares to which the Participant would otherwise be entitled” in rule 12.1 do not apply in relation to Approved Options. 
  

	15	Dividend equivalent 

 Rule 17.4 does not apply in
relation to Approved Options. 
  

	16	Terms of employment 

 The following replaces rule
13.4 in relation to Approved Options: 
  

	16.1	For the purposes of this Rule, “Employee” means any employee of a Member of the Group. 

  

	16.2	This rule applies during an Employee’s employment and after the termination of an Employee’s employment, whether or not the termination is lawful.

  

	16.3	Nothing in the Rules or the operation of the Plan forms part of the contract of employment of an Employee. The rights and obligations arising from the employment relationship
between the Employee and the Company are separate from, and are not affected by, the Plan. Participation in the Plan does not create any right to, or expectation of, continued employment. 

  

	16.4	No employee has a right to participate in the Plan. Participation in the Plan or the grant of Options on a particular basis in any year does not create any right to or
expectation of participation in the Plan or the grant of Options on the same basis, or at all, in any future year. 

  

	16.5	The terms of the Plan do not entitle the Employee to the exercise of any discretion in his favour. 

  

	16.6	The Employee will have no claim or right of action in respect of any decision, omission or discretion, not relating to a subsisting option, which may operate to the
disadvantage of the Employee even if it is unreasonable, irrational or might otherwise be regarded as being in breach of the duty of trust and confidence (and/or any other implied duty) between the Employee and his employer.

  

	16.7	The Employee will have no claim or right of action in respect of any decision, omission or discretion relating to a subsisting option which may operate to the disadvantage of
the Employee. 

  
  
  

 29 

 Italy 
  

	16.8	No Employee has any right to compensation for any loss in relation to the Plan, including any loss in relation to: 

  

	 	16.8.1	any loss or reduction of rights or expectations under the Plan in any circumstances (including lawful or unlawful termination of employment); 

  

	 	16.8.2	any exercise of a discretion or a decision taken in relation to an Option or to the Plan, or any failure to exercise a discretion or take a decision;

  

	 	16.8.3	the operation, suspension, termination or amendment of the Plan. 

  

	16.9	Participation in the Plan is permitted only on the basis that the Participant accepts all the provisions of the Rules, including this Rule. By participating in the Plan, an
Employee waives all rights under the Plan, other than the right to exercise an Option subject to and in accordance with the express terms of the rules and the Performance Condition, in consideration for, and as a condition of, the grant of an Option
under the Plan. 

  

	16.10	Nothing in this Plan confers any benefit, right or expectation on a person who is not an Employee. No such third party has any rights under the Contracts (Rights of Third
Parties) Act 1999 to enforce any term of this Plan. This does not affect any other right or remedy of a third party which may exist 

  
  
  

 30 

 Italy 
 Schedule 2 
 Option Price for Options
granted to Italian employees4 
 The
Option Price for a Market Value Option granted to any employee who may be subject to tax in Italy may, if the Committee so decides, be the average closing middle market quotation of a Share (as derived from the Official List of the London Stock
Exchange) over the 30 calendar days preceding and including the Award Date or such other price determined by the Directors so as to ensure that such employee does not suffer a tax disadvantage. 
  
  

	 4
	 For the avoidance of doubt, the Option Price for Options granted to Italian employees will not be lower than the Option
Price calculated in accordance with Rule 17.1.2. The price produced by using the formula set out in this Schedule 2 will only be used as the Option Price if it produces a higher price than that produced under Rule 17.1.2.

  
  
  

 31 

 United States 
 Schedule 3 
 Special provisions for US employees 
  

	1	Awards are intended not to constitute “non-qualified deferred compensation” within the meaning of Section 409A of the US Internal Revenue Code of 1986, as
amended (the “Code”). 

  

	2	However, notwithstanding anything to the contrary in the Plan or the grant of any Award, if and to the extent the Committee shall determine that the terms of the grant,
substitution or exercise of any Award may result in the failure of the such Award to comply with the requirements of Section 409A of the Code, or any applicable regulations or guidance promulgated by the US Secretary of the Treasury in
connection therewith, the Committee shall have authority to take such action, in its sole discretion, to amend, modify, cancel or terminate the Plan or any grant of any Award as it deems necessary or advisable either for the Awards to be exempt from
the application of Section 409A of the Code or to satisfy the requirements of Section 409A of the Code, including adding conditions with respect to the Vesting of the Awards, irrespective of the adverse affect of such action on and without
the consent of any Participant. 

  

	3	The following rules shall not apply to any Award if the Committee determines that the application of those rules would or could cause the Award to become subject to
Section 409A of the Code: 

  

	3.1	rule 17.1.2(i) (which relates to the Option Price); and 

  

	3.2	rule 17.10.1 (which allows for an Option to be cashed out). 

  

	4	If the disposition of Shares acquired pursuant to any Award is not covered by a then current registration statement under the Securities Act and is not otherwise exempt from
such registration, such Shares shall be restricted against transfer to the extent required under the Securities Act of 1933, and the Committee may require any person receiving Shares pursuant to an Award, as a condition precedent to receipt of such
Shares, to represent to the Company in writing that the Shares acquired by such individual are acquired for investment only and not with a view to distribution and that such Shares will be disposed of only if registered for sale under the Securities
Act of 1933 or if there is an available exemption for such disposition. 

  

	5	Notwithstanding anything else in the Plan, the Company shall not be required to take any action which it, in its discretion, considers could reasonably be deemed to result in
a violation of Section 13(k) of the US Securities Exchange Act of 1934, as amended. 

  
  
  

 32 

 United States – tax-favoured options 
 Schedule 4 
 United States – Tax-favoured options

 The Grantor may, on the Award Date, designate any Market Value Option as an Incentive Stock Option within the meaning of
Section 422 of the Code (an “ISO”). If it does so, the provisions of the rules relating the Market Value Options will apply to the ISO, subject to this Schedule. 
  

	1	Definitions 

 “Code” means the
United States of America Internal Revenue Code of 1986, as amended; 
 “Disability” means the inability to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months;

 “Subsidiary Corporation” means any corporation (other than the Company) in an unbroken chain of corporations beginning
with the Company if, at the time of the granting of the Option, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50 per cent or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain; 
  

	2	Eligibility to be granted ISOs 

 An ISO may only be
granted to an Eligible Employee who is an employee of the Company or a Subsidiary Corporation. 
  

	3	Exercise period for ISOs 

 Notwithstanding anything
in the rules, an ISO will lapse, at the latest, 10 years (or five years, in the case of an individual described in Section 422(b)(6) of the Code (relating to certain 10% owners)) after the Award Date. 
  

	4	Individual Limit on ISOs 

 To the extent that the
aggregate Market Value (determined as of the Award Date) of the Shares subject to ISOs held by any Participant which first Vest during any calendar year under the Plan (or any of the stock option plan required to be taken into account under
Section 422(d) of the Code) exceeds US$100,000, the portion of such grant that exceeds US$100,000 shall not be an ISO but shall continue in effect as a Market Value Option governed by the rules, not including this Schedule. 
  

	5	Option Price for an ISO 

 The Option Price of an ISO
will not be less than 100% (or 110%, in the case of an individual described in Section 422(b)(6) of the Code (relating to certain 10% owners)) of the Market Value of a Share on the date the ISO is granted. 
  
  
  

 33 

 United States – tax-favoured options 
  

	6	Overall limit on number of ISOs 

 The aggregate
number of Shares subject to ISOs will not exceed the lower of the limits set out in rule 7 and 63,000,000 Shares. The Committee may make such adjustments as it sees fit to this limit to take account of any transaction described in rules 10.3, 16.6,
17.2 or 18.1 (which deal with demergers, rights issues and variations in capital). 
  

	7	Transferring ISOs 

 An ISO may not be transferred,
assigned or otherwise disposed of other than by will or the laws of descent and distribution and, during the lifetime of such individual, must not be exercisable by any other person. 
  

	8	Holding requirement 

 If a Participant disposes of
Shares acquired upon exercise of an ISO in a “disqualifying disposition” within the meaning of Section 422 of the Code less than: 
  

	8.1	two years after the Award Date of the ISO; or 

  

	8.2	one year from the issue or transfer of Shares to the Participant on exercise, 

 or in any other disqualifying disposition within the meaning of Section 422 of the Code, the Participant shall notify the Company in writing as soon
as practicable of the date and terms of such disposition. Rule 12 (Tax) will apply to any resulting federal, state or local tax or social security contributions. 
  

	9	Disability 

 A Participant’s ISO will lapse 12
months after the Participant’s Termination of Employment by reason of his Disability. 
  

	10	Governing law 

 English law governs the ISOs and
their construction but ISOs will be construed in accordance with the provisions of Section 422 of the Code so as to preserve their status as Incentive Stock Options. 
  

	11	Failure to comply with the Code in relation to an ISO 

 To the extent that an ISO fails to meet any of the requirements of Section 422 of the Code, it shall cease to be an ISO but shall, from the date of the failure, continue in effect as a Market Value Option governed by the rules, not
including this Schedule. 
  
  
  

 34

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