Document:

EX-4.4

 Exhibit 4.4 

POPULAR, INC. PUERTO RICO SAVINGS AND INVESTMENT PLAN 

Composite Version 
 Including
Amendments Until 
 February 14, 2019 
  

 POPULAR, INC. PUERTO RICO SAVINGS AND INVESTMENT PLAN 

Table of Contents 
  

							
	 	 	 	  	Page	 
	 INTRODUCTION
	 		  	 	1	 
		
	 ARTICLE I - DEFINITIONS
	  	 	2	 
		
	 Account
	  	 	2	 
	 Actual Deferral Percentage
	  	 	2	 
	 Affiliated Company
	  	 	2	 
	 Anniversary Date
	  	 	2	 
	 After-Tax Contributions
	  	 	2	 
	 Beneficiary
	  	 	3	 
	 Benefits Committee
	  	 	3	 
	 Before-Tax Contributions
	  	 	3	 
	 Catch-up Contributions
	  	 	3	 
	 Compensation
	  	 	3	 
	 Deferral Limit
	  	 	4	 
	 Early Retirement Date
	  	 	4	 
	 Effective Date
	  	 	4	 
	 Employee
	 		  	 	4	 
	 Employee Contribution Account
	  	 	5	 
	 Employer
	  	 	5	 
	 Employer Contribution Account
	  	 	5	 
	 Employer Matching Contributions
	  	 	5	 
	 Employer Profit Sharing Contributions
	  	 	5	 
	 Employment Commencement Date
	  	 	5	 
	 ERISA
	  	 	5	 
	 Excess Before-Tax Deferral
	  	 	5	 
	 Highly Compensated Employee
	  	 	5	 
	 Hour of Service
	  	 	6	 
	 Investment Fund
	  	 	6	 
	 Investment Committee
	  	 	6	 
	 Normal Retirement Date
	  	 	6	 
	 Parental Leave
	  	 	6	 
	 Participant
	  	 	6	 
	 Period of Severance
	  	 	6	 
	 Plan
	  	 	7	 
	 Plan Administrator
	  	 	7	 
	 Plan Year
	  	 	7	 
	 PR Code
	  	 	7	 
	 Qualifying Employer Securities
	  	 	7	 
	 Reemployment Commencement Date
	  	 	7	 

							
	 Retirement
	  	 	7	 
	 Rollover Contributions
	  	 	7	 
	 Severance from Service Date
	  	 	7	 
	 Termination of Employment
	  	 	8	 
	 Total and Permanent Disability
	  	 	8	 
	 Transferred Shares
	  	 	8	 
	 Trust Agreements
	  	 	8	 
	 Trustees
	  	 	8	 
	 Trust Funds
	  	 	8	 
	 Valuation Date
	  	 	8	 
	 Years of Service
	  	 	8	 
		
	 ARTICLE II - PARTICIPATION
	  	 	10	 
			
	 2.01
	 	Requirements for Participation	  	 	10	 
	 2.02
	 	Cessation of Participation	  	 	11	 
	 2.03
	 	Establishment of Account	  	 	11	 
		
	 ARTICLE III - PARTICIPANT CONTRIBUTIONS
	  	 	11	 
			
	 3.01
	 	Procedure for Making Contributions	  	 	11	 
	 3.02
	 	Limitations on Before-Tax Contributions	  	 	14	 
	 3.03
	 	Distributions of Excess Deferrals	  	 	16	 
		
	 ARTICLE IV - EMPLOYER CONTRIBUTIONS
	  	 	17	 
			
	 4.01
	 	Amount of Employer Profit Sharing Contribution	  	 	17	 
	 4.02
	 	Employer Matching Contribution	  	 	17	 
	 4.03
	 	Allocation of Employer Contributions	  	 	18	 
	 4.04
	 	Investment of Employer Contributions	  	 	19	 
	 4.05
	 	Return of Employer Contributions	  	 	19	 
	 4.06
	 	Maximum Allocation — PR Code Section 1081.01(a)(11)(B)	  	 	19	 
		
	 ARTICLE V - INVESTMENT OF CONTRIBUTIONS AND VALUATION OF ACCOUNTS
	  	 	20	 
			
	 5.01
	 	Establishment of Trust Funds	  	 	20	 
	 5.02
	 	Operation of the Trust Funds	  	 	20	 
	 5.03
	 	Investment Funds	  	 	21	 
	 5.04
	 	Investment Direction	  	 	21	 
	 5.05
	 	Voting of Stock	  	 	22	 
	 5.06
	 	Valuation	  	 	23	 
	 5.07
	 	Accounting Procedures	  	 	23	 
	 5.08
	 	Payment of Expenses	  	 	23	 
		
	 ARTICLE VI - DISTRIBUTIONS
	  	 	23	 
			
	 6.01
	 	Distributions on Retirement or Total and Permanent Disability	  	 	23	 
	 6.02
	 	Distributions on Death	  	 	23	 
	 6.03
	 	Distribution Upon Termination of Employment	  	 	24	 

  
 ii 

							
	 6.04
	 	Forfeitures	  	 	25	 
	 6.05
	 	Forms of Payment	  	 	26	 
	 6.06
	 	Timing of Payment	  	 	26	 
	 6.07
	 	Withdrawal of After-Tax Contributions	  	 	27	 
	 6.08
	 	Hardship Withdrawals	  	 	28	 
	 6.09
	 	Commencement of Benefit Payments	  	 	29	 
	 6.10
	 	Cash Outs	  	 	30	 
	 6.11
	 	Direct Rollovers	  	 	30	 
	 6.12
	 	Distributions for Adoption and Fertility Treatment Expenses	  	 	30	 
	 6.13
	 	Special Temporary Withdrawal Feature	  	 	31	 
		
	 ARTICLE VII - PLAN ADMINISTRATION
	  	 	31	 
			
	 7.01
	 	Appointment of a Benefits Committee	  	 	31	 
	 7.02
	 	Operation of the Benefits Committee	  	 	31	 
	 7.03
	 	Powers and Duties of the Benefits Committee	  	 	32	 
	 7.04
	 	Delegation of Responsibility	  	 	32	 
	 7.05
	 	Indemnification of the Benefits and Investment Committees	  	 	32	 
		
	 ARTICLE VIII - CLAIMS PROCEDURE
	  	 	33	 
			
	 8.01
	 	Notification of Benefit Eligibility	  	 	33	 
	 8.02
	 	Initial Review of Claims	  	 	33	 
	 8.03
	 	Review of Claim Denial	  	 	33	 
		
	 ARTICLE IX - AMENDMENT OR TERMINATION OF THE PLAN OR DISCONTINUANCE OF
CONTRIBUTIONS
	  	 	34	 
			
	 9.01
	 	Right to Amend or Terminate the Plan	  	 	34	 
	 9.02
	 	Result of Termination	  	 	35	 
		
	 ARTICLE X - MISCELLANEOUS PROVISIONS
	  	 	35	 
			
	 10.01
	 	Contract of Employment	  	 	35	 
	 10.02
	 	Furnishing of Information	  	 	36	 
	 10.03
	 	Assignment or Alienation of Benefits	  	 	36	 
	 10.04
	 	Merger of Plans	  	 	36	 
	 10.05
	 	Substitute Payee	  	 	36	 
	 10.06
	 	Domestic Relations Order	  	 	36	 
	 10.07
	 	Qualified Domestic Relations Order	  	 	36	 
	 10.08
	 	Procedures involving Domestic Relations Orders	  	 	37	 
	 10.09
	 	Gender and Number	  	 	37	 
	 10.10
	 	Governing Law	  	 	37	 

  

  
 iii 

 INTRODUCTION 

POPULAR, INC. PUERTO RICO SAVINGS AND INVESTMENT PLAN (“the Plan”) 

Popular, Inc. offers the employees of all Puerto Rico subsidiaries or affiliates of Popular, Inc. who adopt the Plan a tax qualified profit sharing plan with
a cash or deferred compensation arrangement. Popular, Inc. is of the opinion that the plan should be changed in accordance with the Puerto Rico Internal Revenue Code of 2011. It believes that the best means to accomplish these changes is to
completely restate the Plan’s terms, provisions and conditions. The restatement, effective January 1, 2014, is set forth in this document and is substituted in lieu of the prior document with the exception of any good faith compliance
amendment and any model amendment. Such amendment(s) shall continue to apply to this restated plan until such provisions are integrated into the plan or such amendment(s) are superseded by another amendment. 

The restated plan continues to be for the exclusive benefit of employees of the Employer. All persons covered under the plan on December 31, 2013 shall
continue to be covered under the restated plan with no loss of benefits. 
 Effective January 1, 2006, the Popular Inc, Retirement Savings Plan for
Puerto Rico Subsidiaries was renamed the Popular, Inc. Puerto Rico Savings and Investment Plan. Also, effective January 1, 2006, multiple amendments were introduced to clarify provisions, to enhance others and to delete the Appendices to the
Plan. 
 Effective July 1, 2006, the Banco Popular de Puerto Rico Savings and Investment Plan was merged into and with the Plan. Consequently, on that
date, Popular, Inc. and Banco Popular de Puerto Rico become employers under the Plan. 
 The Plan hereinafter set forth, is the renamed, amended and
restated Popular Securities, Inc.-Institutional 1165(e) Plan into which the Popular Finance, Inc. Retirement & Savings Plan, the Popular Mortgage, Inc. 1165(e) Plan, the Popular Leasing & Rental, Inc.
- Retirement & Savings Plan, the GMG Retirement & Savings Plan, the Popular Securities Retail 1165(e) Plan and the Popular Insurance Retirement and Savings Plan were merged as of
midnight on December 31, 2000, and of which Popular, Inc. assumed sponsorship of as of 12:01 A.M. on January 1, 2001. The effective date of the renamed, amended and restated plan was January 1, 2001. The Plan was amended and restated
effective as of July 1, 2001 to reduce the eligibility period from one year of service to three months of service. 
 The Plan is now amended and
restated effective January 1, 2014 to introduce the changes and requirements of the Puerto Rico Internal Revenue Code of 2011, as amended, and to include stand-alone amendments adopted after January 1, 2001. 

 

  
 1 

 ARTICLE I 

DEFINITIONS 
 Where the
following words and phrases appear in the Plan, they shall have the respective meanings as set forth below, unless the context in which they are used clearly indicates a different meaning. 

Account. The Account established and maintained on behalf of a Participant including, but not limited to, a Participant’s Employer
Contribution Account and Employee Contribution Account and such other sub-accounts as may be needed to properly and effectively record a Participant’s interest in the Plan. 

Actual Deferral Percentage. For a specified group of employees for a Plan Year, the average of the ratios (calculated separately for
each person in such group): 
 (i)The aggregate of the Before-Tax Contributions (and such other
contributions which, in accordance with applicable rules and regulations promulgated under the PR Code, may be aggregated with such Before-Tax Contributions for purposes of demonstrating compliance with the
requirements of the PR Code) which are actually payable to the Plan on behalf of each such Employee, bears to 
 (ii) Such Employee’s
Compensation for such Plan Year. 
 Affiliated Company. The Employer and 

(a) any corporation, partnership or other entity which is a member of a controlled group of corporations (as defined in Section 1010.04 of
the PR Code) which includes the Employer; 
 (b) any group of entities (whether or not incorporated) which are related (as defined in
Section 1010.05 of the PR Code) with the Employer; and 
 (c) any corporation, partnership or other entity that is part of an affiliated
service group (as defined in Section 1081.01(a)(14)(B) which includes the Employer or is under common control with the Employer, that have employees who are bona-fide residents of Puerto Rico. 

Anniversary Date. The Effective Date and each January 1 thereafter. 

After-Tax Contributions. Participant Contributions made after taxes have been deducted from his
compensation pursuant to Section 3.01(a). 

  
 2 

 Beneficiary. The person or persons designated to receive benefits payable under the
Plan in the event of a Participant’s death. Such designation may be changed at any time by the Participant. A Participant may also name one or more contingent Beneficiaries to receive any benefits payable in the event of his death with no
surviving primary Beneficiary. In the absence of any designation, or if no designated person is living when a benefit is payable, Beneficiary shall mean the Participant’s spouse as defined under ERISA, or where there is no surviving spouse, the
Participant’s estate. Designation by a married Participant of a Beneficiary other than the Participant’s spouse shall require the spouse’s consent in writing, witnessed by a Notary Public, including designation of contingent
beneficiaries. 
 Benefits Committee. The persons appointed by the Board of Directors of Popular, Inc. to the Benefits Committee to
administer the Plan in accordance with the provisions of Article VIII with the powers delegated by the Board of Directors of Popular, Inc. therefor. 

Before-Tax Contributions. Contributions made by the Employer pursuant to either (i) a
Participant’s having elected to reduce his compensation under Section 3.01(b) or, (ii) the operation of the auto-enrollment feature of Section 3.01(b). 

Catch-up Contributions. Before-Tax Contributions made
in excess of the Deferral Limit by a Participant who has reached age 50, irrespective of whether the Catch-up Contributions are made as a result of the Participants’ affirmative election or through
operation of Section 3.01(b) of the Plan. Catch-up contributions are limited to $1,500 per Plan Year or such other amount as may be provided in the PR Code. 

Compensation. Total compensation currently includible in income for income tax purposes paid during the Plan Year to a Participant by
an Employer or a predecessor Employer that did not maintain this Plan during any specified period. Compensation received from such predecessor Employer shall be counted only if service continued with the Employer without interruption. 

Compensation for a Plan Year shall also include Compensation paid by the end of the Plan Year that includes the date of the Employee’s
Termination of Employment with the Employer maintaining the Plan, if the payment is regular Compensation for services during the Employee’s regular working hours, or Compensation for services outside the Employee’s regular working hours
(such as overtime or shift differential), commissions, bonuses, or other similar payments, and, absent Termination of Employment, the payments would have been paid to the Employee while the Employee continued in employment with the Employer. 

Any payments not described above shall not be considered Compensation if paid after Termination of Employment, even if they are paid by the
later of 2 1/2 months after the date of Termination of Employment or the end of the Plan Year that includes the date of Termination of Employment. Compensation paid or made available during a specified period shall include amounts that would
otherwise be included in Compensation but for an election under PR Code Section 1081.01(d) or, in the case of a Participant who formerly participated in the Popular, Inc. USA 401(k) Savings & Investment Plan, under U.S. Internal
Revenue Code of 1986, as amended Sections 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b). 

  
 3 

 Compensation shall exclude retention bonuses, reimbursements or other expense allowances,
fringe benefits (cash and noncash), moving expenses, deferred compensation (other than elective contributions), and welfare benefits. Compensation shall exclude the following: long term incentive pay and recognition awards, in general. 

Compensation shall include any payments which are made by an Employer to an individual with respect to any period during which the individual
is performing any service in the uniformed services (as defined in Chapter 43 of Title 38 of the U.S. Code) by any individual if such individual is entitled to reemployment rights under such chapter with respect to such service while on active duty
for a period of more than 30 days, and represents all or a portion of the wages the individual would have received from the Employer if the individual were performing service for the Employer. 

Notwithstanding the foregoing, effective January 1, 2012, the maximum amount of Compensation considered for all purposes under the Plan
shall not exceed the applicable limitation in effect for any given Plan Year under PR Code Section 1081.01(a)(12). 
 If a
determination period consists of fewer than 12 months, the annual compensation limit is an amount equal to the otherwise applicable annual compensation limit multiplied by a fraction. The numerator of the fraction is the number of months in the
short determination period, and the denominator of the fraction is 12. 
 If Compensation for any prior determination period is taken into
account in determining a Participant’s contributions or allocations for the current Plan Year, the Compensation for such prior determination period is subject to the applicable annual compensation limit in effect for that determination period.
For this purpose, in determining contributions and allocations in Plan Years beginning on or after January 1, 2012, the annual compensation limit in effect for determination periods beginning before that date is $0.00 (zero). 

Deferral Limit. The Before-Tax Contributions limit under the PR Code. 

Early Retirement Date. The date a Participant attains age 55 with no less than 10 Years of Service. 

Effective Date. The original effective date is January 1, 2001. The effective date of the first Plan restatement is
January 1, 2008. The effective date of the second Plan restatement is January 1, 2014. 
 Employee. Subject to the
following sentence, any person who is employed in Puerto Rico on or after the Effective Date by the Employer (or who is on an authorized leave of absence and who was employed immediately preceding such leave). The following individuals should not be
considered Employees for purposes of determining eligibility to participate in this Plan (a) any person who is covered by a collective bargaining agreement (unless the collective bargaining agreement specifically provides for his inclusion in
this Plan), (b) an individual described in Section 2.01(c) or, (c) seasonal or temporary employees, provided that if such Employee completes a Year of Service, then such individual shall be treated as an Employee immediately following the
completion of such Year of Service. 

  
 4 

 Employee Contribution Account. That portion of a Participant’s Account to which
Employee Before-Tax, After-Tax, Catch-up and Rollover contributions are credited pursuant to Article III. Other contributions
that are permissible under the Plan may be accounted for in the Employee Contribution Account to comply with applicable law. 

Employer. Popular, Inc. and any Affiliated Company which has expressly adopted the Plan with the consent of Popular, Inc. in accordance
with adoption procedures established by Popular, Inc., in its sole discretion and any other Affiliated Company required to be aggregated with Popular, Inc. for discrimination testing purposes under the PR Code. 

Employer Contribution Account. That portion of a Participant’s Account to which Employer Matching and Profit Sharing Contributions
are credited pursuant to Article IV. 
 Employer Matching Contributions. Employer contributions made pursuant to Section 4.02.

 Employer Profit Sharing Contributions. Employer contributions made pursuant to Section 4.01. 

Employment Commencement Date. For all purposes of the Plan, the date on which a person employed by the Employer or an Affiliated
Company first performs an Hour of Service. 
 ERISA. The Employee Retirement Income Security Act of 1974, as now in effect or as
hereafter amended. All citations to sections of ERISA are to such sections as they may from time to time be amended or renumbered. References to a section of ERISA shall be deemed to also be a reference to its enabling regulations. 

Excess Before-Tax Deferral. The amount of Compensation which a Participant has elected to have
the Employer contribute to the Plan rather than receive in cash, which is a Participant Contribution under Section 3.01 for a calendar year that the Participant allocates to this Plan pursuant to the claim procedure set forth in subsection
3.03(c) hereof. 
 Highly Compensated Employee. An employee who: 

(a) during the Plan Year for which the determination is being made was more than a 5% owner or had more than a 5% interest in earnings or
capital of the Employer; 
 (b) received Compensation during the preceding Plan Year from the Employer in excess of the PR Code
Section 1081.01(d)(3)(E)(iii)(III) limit; or 
 (c) is an officer of the Employer. 

  
 5 

 Hour of Service. Each hour for which a person is directly or indirectly compensated
by the Employer or an Affiliated Company for the performance of duties, including each such hour during which a person was covered by a collective bargaining agreement. 

Investment Fund. Any fund for investment of contributions as described in Section 5.03. 

Investment Committee. The persons appointed by the Board of Directors of Popular, Inc. to the Investment Committee responsible for
selecting the Investment Funds. 
 Normal Retirement Date. The date on which a Participant attains age 65. 

Maternity or Parental Leave. An Employee’s absence from work for the Employer: 

(a) by reason of the pregnancy of such Employee; 

(b) by reason of the birth of a child of such 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 a child of such Employee immediately following the birth of the child or the placement of the child with such
Employee. Such leave may not exceed twenty-four months and thereafter shall be deemed a Termination of Employment unless the individual subsequently returns to employment with an Employer or an Affiliated Company or is granted another type of
approved leave. 
 An Employee shall be required to furnish the Plan Administrator with such information as may be reasonably required in
order to establish (i) that the Employee’s absence is one described in this Section and (ii) the number of days during such absence. 

Participant. An Employee eligible to participate in the Plan who has satisfied the requirements of Section 2.01(a) (an Active
Participant), or a former Employee receiving or eligible to receive a benefit (an Inactive Participant). 
 Any person employed by an
Employer or an Affiliated Company who is not an Employee but who will be eligible for benefits upon his Termination of Employment shall be referred to as an Inactive Participant. 

Period of Severance. The period, measured in full years and months, between a Participant’s Severance from Service Date and a
subsequent Reemployment Commencement Date. However, in the case of a leave of absence that would be the type of leave that would be required to be granted under the Family and Medical Leave Act of 1993 (Family and Medical Leave Act) if an employee
was covered by such leave, the portion of such leave which is not in excess of the period granted under the Family and Medical Leave Act shall not be included in a Participant’s Period of Severance. 

  
 6 

 Notwithstanding the above, leaves of absence formally approved by the Employer as leaves in
which service credit will be given under this Plan, shall not constitute a Period of Severance but shall be considered as Years of Service in determining service for vesting and eligibility provided that the Participant returns to employment of the
Employer immediately following such leave of absence. 
 Plan. The retirement plan set forth herein and as amended hereafter, which
is known as the: 
 “Popular, Inc. Puerto Rico Savings and Investment Plan” 

Plan Administrator. The Benefits Committee appointed by the Board of Directors of Popular, Inc. pursuant to Article VII hereof. 

Plan Year. The calendar year. 

PR Code. The Puerto Rico Internal Revenue Code of 2011, as now in effect or as hereafter amended. All citations to sections of the PR
Code are to such sections as they may from time to time be amended or renumbered. 
 Qualifying Employer Securities. Shares of common
stock of Popular, Inc. offered as an investment option under the Plan. 
 Reemployment Commencement Date. The date on which a person
formerly employed by the Employer or an Affiliated Company first performs an Hour of Service after a Period of Severance. 

Retirement. The date on which a Participant incurs a Severance from Service Date after attaining his (i) Normal Retirement Date or
(ii) his Early Retirement Date. 
 Rollover Contributions. Contributions made to the Plan pursuant to Section 3.01(i) of
monies received by a Participant from another plan qualified under PR Code Section1081.01. 
 Severance from Service Date. The
earliest of the following: 
 (a) The date of a person’s Termination of Employment or death. 

(b) The day following a period of one full year during which a person previously employed by the Employer does not perform services for the
Employer or an Affiliated Company for any reason other than his resignation, discharge, retirement, or death. These reasons shall include, but shall not be limited to, vacation, holiday, sickness, disability, leave of absence, or layoff. 

(c) the second anniversary of a Participant’s absence due to Maternity or Paternity Leave. 

  
 7 

 For all purposes of the Plan, a person’s employment with the Employer or an Affiliated
Company shall be deemed to have terminated as of a Severance from Service Date. 
 Termination of Employment. A Participant’s
termination of employment with an Affiliated Company, whether voluntary or involuntary, for any reason, including but not limited to quit, discharge or incurrence of a Total and Permanent Disability. However, a Termination of Employment shall not
include a Maternity or Parental Leave or Family and Medical Act Leave, transfer to another Affiliated Company, or death. 
 Total and
Permanent Disability. A physical condition of a Participant which results in benefit payments under the Employer’s long term disability plan. 

Transferred Shares. Shares of Qualifying Employer Securities credited to a Participant’s account in the Banco Popular de Puerto
Rico Savings and Investment Plan attributable to employer profit sharing contributions that were transferred to the Plan as a result of the merger of the Banco Popular de Puerto Rico Savings and Investment Plan into the Plan on July 1, 2006.

 Trust Agreements. One or more legally-binding agreements between Popular, Inc. and the Trustees. Any term defined in the Trust
Agreements shall have the same meaning as therein ascribed when used herein, unless the context clearly implies a different meaning. 

Trustees. The trustees named in the Trust Agreements, or their successors, if any. 

Trust Funds. The properties and monies which shall from time to time be held by the Trustees under the Trust Agreements. 

Valuation Date. Every day that the New York Stock Exchange is open for business, provided that a Valuation Date for Qualifying Employer
Securities shall be every day that the New York Stock Exchange and the Plan’s recordkeeper are open for business. 
 Years of
Service. The period measured in full months and years (as defined below) beginning on a person’s Employment Commencement Date and ending on his last Severance from Service Date, but excluding the following: 

(a) any intervening Period of Severance provided that the person’s Reemployment Commencement Date followed a period of at least one full
year during which he completed no Hours of Service. 
 (b) any Years of Service preceding a Period of Severance of at least 60 full months
provided: 
  

	 	(i)	 the Participant was not entitled to any vested benefit under the Plan at the commencement of the Period of
Severance, and 

  
 8 

	 	(ii)	 the length of the Period of Severance exceeded the greater of 60 months and his Years of Service determined as
of the Severance from Service Date, and 

  

	 	(iii)	 the Participant had not incurred a Total and Permanent Disability, which disability continued throughout the
Period of Severance. 

 A Year of Service shall include any period for which a person is directly or indirectly
compensated by the Employer or an Affiliated Company on account of a period of time during which no duties are performed or for which back pay has been received by the person (irrespective of whether mitigating damages have been awarded or agreed to
by the Employer or the Affiliated Company) due to: 
  

	 	(i)	 vacation or holiday, 

	 	(ii)	 illness or incapacity, 

	 	(iii)	 layoff, 

	 	(iv)	 jury duty, 

	 	(v)	 military duty, 

	 	(vi)	 leave of absence. 

For all purposes of determining Years of Service, a period beginning on any given day of a month and ending on the day preceding the
corresponding day of the following month shall constitute a full month. Twelve such full months shall constitute a full year. 
 For all
purposes of the Plan, Years of Service shall also include any periods of service with another employer for which credit is granted under the Plan. However, Years of Service for vesting purposes shall exclude any service for the Employer or an
Affiliated Company prior to the Employee’s attainment of age 18. 
 For all purposes of the Plan, Years of Service shall include all
periods of service with an Affiliated Company that is not an Employer. 
 Effective on or after December 12, 1994, service credit with
respect to qualified military service will be provided in accordance with the Uniformed Services Employment and Reemployment Rights Act of 1994. 

For all purposes of the Plan, with respect to former employees of Reliable Financial Services, Inc. and Reliable Finance Holding Company hired
by Popular Auto LLC pursuant to that certain Asset Purchase Agreement dated February 14, 2018, by and between Reliable Financial Services, Inc., Reliable Finance Holding Company, Wells Fargo & Company and Banco Popular de Puerto Rico
who become Participants Years of Service shall include all periods of service with Reliable Financial Services, Inc. and Reliable Finance Holding Company. 

  
 9 

 ARTICLE II 

PARTICIPATION 
 2.01
Requirements for Participation 
 (a) Subject to the limitations of Section 2.01(c) below, provided he has 18 years of age or
more, an individual shall become a Participant in the Plan as of the first day of the month coincident with or next following the later of (1) the date he satisfies the definition of an Employee, or (2) his completion of thirty
(30) days of service. Notwithstanding the foregoing, former employees of Wells Fargo Advisors LLC hired by Popular Securities, Inc. pursuant to that certain Asset Purchase Agreement dated July 13, 2011, by and between Wells Fargo Advisors
LLC and Popular, Securities, Inc. shall be eligible to participate in the Plan on the date he satisfies the definition of Employee, if earlier. Participation in the Plan shall occur automatically upon meeting the requirements for participation of
this Article II. 
 (b) If an Inactive or former Participant again becomes an Employee, he shall immediately be eligible to participate in
the Plan. 
 (c) An individual shall not be eligible to participate in the Plan if such individual 

 

	 	(i)	 is classified by the Employer as a leased employee, 

 

	 	(ii)	 is classified by an Employer as performing services for an Affiliated Company under an agreement or arrangement
pursuant to which he is treated as an independent contractor, or 

  

	 	(iii)	 is not classified by an Affiliated Company as an employee for purposes of withholding employment taxes.

 The classifications by the Employer under the prior sentence shall be determinative (irrespective of whether the
individual is subsequently reclassified or treated as an employee of an Affiliated Company under common-law employment principles by any governmental agency or authority, or a court). 

(d) In the event a Participant is no longer a member of an eligible class of Employees and becomes ineligible to participate but has not
incurred a Period of Severance, such Employee will participate immediately upon once again becoming a member of an eligible class of Employees. 

(e) In the event an Employee who is not a member of an eligible class of Employees becomes a member of an eligible class, such Employee will
participate immediately if such Employee has satisfied the age and service requirements and would have otherwise previously become a Participant. 

  
 10 

 2.02 Cessation of Participation 

An Employee’s participation in the Plan shall cease upon the complete distribution of his Account under the Plan. 

2.03 Establishment of Account 

(a) The Plan Administrator shall establish and maintain or cause to be established and maintained in respect of each Participant, an Account
showing his interest under the Plan and in the Trust Funds, and all other relevant data pertaining thereto. Each Participant shall be furnished with a written statement of his Account, such written statement which may be distributed by electronic
means as permitted by applicable law and regulations, not less frequently than quarterly and upon any distribution to him. In maintaining the Account under the Plan or causing them to be maintained, the Plan Administrator may conclusively rely on
the valuations of the Trust Funds in accordance with the Plan and the terms of the Trust Agreements. 
 (b) The establishment and maintenance
of, or allocations and credits to, the Account of any Participant shall not vest in any Participant any right, title or interest in and to any Plan assets or benefits except at the time or times and upon the terms and conditions and to the extent
expressly set forth in the Plan and in accordance with the terms of the Trust Agreements. 
 ARTICLE III 

PARTICIPANT CONTRIBUTIONS 

3.01 Procedure for Making Contributions 

(a) After-Tax Contributions. Subject to any limitations set forth in the PR Code from time to time,
each Participant may designate, pursuant to procedures established by the Plan Administrator, and contribute to the Plan as an After Tax Contribution an amount equal to not less than 1% nor more than 10% (in whole percentage points) of his
Compensation; provided, however, that a Participant shall not contribute, or elect to have contributed on his behalf, amounts with respect to Compensation received by him after the close of the calendar year during which he had a Termination of
Employment. Notwithstanding any provision in the Plan to the contrary, in no event may After-Tax Contributions exceed 10% of the Participant’s accumulated Compensation since he or she became a Participant
in the Plan. 
 (b) Before-Tax Contributions. Subject to the limitations set forth below, each
Participant may elect that his Employer contribute directly to the Plan an amount equal to a whole percentage of his Compensation, not less than 1% nor greater than 70% which amount shall be his Before-Tax
Contribution. Additionally, a Participant who elects to make the maximum allowable Before-Tax Contribution who will reach age 50 during the Plan Year may elect to make
Catch-up Contributions to the Plan up to the maximum allowable under PR Code Section 1081.01(d)(7)(C) per Plan Year. Notwithstanding, the determination of whether a contribution made pursuant to an
election to make Catch-up Contributions meets all legal and Plan requirements to be considered a Catch-up Contribution shall be made as of the close of the Plan Year. Catch-up Contributions shall be treated as Before-Tax Contributions for all purposes under the Plan except for purposes of discrimination testing under Section 3.02. 

  
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 A Participant who does not elect to make a
Before-Tax Contribution upon enrollment for participation in the Plan shall be deemed to have elected to make Before-Tax Contributions equal to 4% of Compensation.
Participants shall be given written notice of their automatic enrollment in the Plan no less than 30 days before the automatic enrollment date. Participants who are (or will become) auto-enrolled in the Plan may elect to change their percentage of Before-Tax Contributions to a different percentage of Compensation, including zero percent (0%). An election of a Before-Tax Contribution of zero percent (0%) shall be deemed
to be an election to not participate in the Plan. Before-Tax Contributions made as a result of a Participant’s auto-enrollment may not be distributed from the Plan until the occurrence of an event of
distribution under the Plan. 
 The Plan provides for an automatic increase of Before-Tax
Contributions feature. Periodically, the Plan Administrator shall determine the maximum Before-Tax Contribution percentage to which Participants’ Before–Tax Contributions may be increased, such
maximum which may not exceed eight percent (8%) of Compensation. Once the Plan Administrator has set the auto increase maximum, such maximum shall remain in effect until such time as the Plan Administrator sets a new maximum and communicates
that maximum to Participants. The Plan Administrator shall also determine the date in each Plan Year on which Participants who are making Before-Tax Contributions in a percentage of Compensation that is
less than the applicable automatic increase maximum, including Participants who have elected to make a Before-Tax Contribution of zero percent (0%), shall have their
Before-Tax Contribution percentage increased automatically by one percent (1%). Participants shall be given written notice of the automatic increase in Before-Tax
Contribution percentage no less than 30 days or more than 90 days before the increase is to be effective. Participants, upon receipt of the notice of automatic increase, may elect to change their percentage of
Before-Tax Contributions to a different percentage of Compensation, including zero percent (0%), by the deadline established by the Plan Administrator to avoid the automatic increase. 

The maximum Before-Tax Contribution by a Participant, who is determined to be a Highly Compensated
Employee under Section 3.02, for the Plan Year in question, may be further restricted or limited by the Plan Administrator from time to time.” 

(c) Notwithstanding any election in accordance with Section 3.01(b), if the Plan Administrator at any time determines that all or any
portion of the Participant’s Before-Tax Contributions should be treated as After-Tax Contributions to allow for the
Before-Tax Contribution provisions of the Plan to qualify as a qualified cash or deferred arrangement for purposes of Section 1081.01(d) of the PR Code, or if the Actual Deferral Percentage standards set
forth in the PR Code are not met at the end of the Plan Year; then the Plan Administrator, in its sole and absolute discretion, (i) may, in accordance with Section 3.02(b) below, limit the amount which shall be contributed by the Employer
as Before-Tax Contributions after the date of such determination on behalf of all or any part of the Participants and (ii) shall distribute any excess Before-Tax
Contributions made with respect to the Plan Year to the affected Participants as soon as practicable after the end of the Plan Year. 

  
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 (d) The Employer shall (i) deduct a Participant’s
After-Tax Contributions from the Participant’s Compensation on a per payroll basis, (ii) reduce the Compensation that is paid to the Participant directly in cash by an amount equal to the
Participant’s Before-Tax Contributions on a per payroll basis, and (iii) contribute a Participant’s After-Tax,
Before-Tax and Catch-up Contributions to the Plan on behalf of the Participant. The amounts so deducted and so contributed shall be paid by the Employer to the Trustees
no later than 15 days following the end of the month with respect to which such amounts are deducted and contributed or within such shorter period of time as may be required under the PR Code, ERISA or related regulations. 

(e) In the event an Employee who is not a member of an eligible class of Employees becomes a member of an eligible class, such Employee will
participate immediately if such Employee has satisfied the age and service requirements and would have otherwise previously become a Participant. 

(f) Not later than 15 days prior to the beginning of a calendar month or not later than such other date as may be determined by the Plan
Administrator (such date which shall not allow a retroactive change), a Participant may elect, pursuant to nondiscriminatory procedures established by the Plan Administrator (including an electronic system under circumstances the Plan Administrator
permits), (i) to suspend making After-Tax Contributions and (ii) that the Employer should suspend making Before-Tax Contributions on his behalf, all as of the
beginning of such payroll period. Not later than 15 days prior to the beginning of a calendar month or not later than such other date as may be determined by the Plan Administrator, such Participant may elect (i) to resume making After-Tax Contributions by indicating any amount of contributions permitted under Subsection (a) and (ii) that the Employer shall resume making Before-Tax Contributions
on his behalf by designating an amount of Compensation that is permitted under Subsection (b) hereof as Before-Tax Contributions. 

(g) Contributions pursuant to this Section 3.01 shall be credited to each Participant’s Account. 

(h) Notwithstanding any election in accordance with paragraph (b) of this Section 3.01, the total amount of a Participant’s Before-Tax Contributions for any calendar year shall not exceed the Deferral Limit. If a Participant reaches the Deferral Limit, the Plan Administrator, in its discretion, can direct that all or any portion of such
Participant’s Before-Tax Contributions during such year shall be After-Tax Contributions regardless of such Participant’s elections pursuant to Sections
3.01(a) and 3.01(b), provided, however, that After-Tax Contributions shall never exceed the limitations set forth in Section 3.01(a). 

(i) Rollover from Other Plans. An Employee eligible to participate in the Plan, regardless of whether he has satisfied the participation
requirements of Section 2.01, may transfer to the Plan an Eligible Rollover Distribution, as defined in Section 6.11(a) hereof, provided that such distribution is from an Eligible Retirement Plan, as defined in Section 6.11(b) hereof.
If such transfer is not a direct transfer, such a transfer may be made only if the following conditions are met: 
  

	 	(i)	 the transfer occurs on or before the 60th day following the Employee’s receipt of the distribution from
the Eligible Retirement Plan; and 

  
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	 	(ii)	 the amount transferred is equal to the distribution the Employee received from the Eligible Retirement Plan,
not in excess of the fair market value of all property received in such a distribution. 

 The Plan Administrator shall
develop such procedures, and may require such information, from a Participant desiring to make such a transfer, as it deems necessary or desirable to determine that the proposed transfer will meet the requirements of this Section. Upon approval by
the Plan Administrator, the amount transferred shall be deposited in the Trust Funds and shall be credited to the Participant’s Account. Such rollover amount shall be one hundred percent (100%) vested in the Participant, shall share in the
income allocations in accordance with Article V, but shall not share in the Employer Matching Contributions or the forfeiture allocations. Upon termination of employment, the total amount of the rollover contribution shall be distributed in
accordance with the terms of the Plan. 
 Upon such a transfer by an Employee who is otherwise eligible to participate in the Plan but who
has not yet completed the participation requirements of Section 2.01, his rollover amount shall represent his sole interest in the Plan until he becomes a Participant. 

(j) Notwithstanding anything in the foregoing to the contrary, the Plan Administrator may limit or suspend a Participant’s After-Tax or Before-Tax Contributions pursuant to uniform, non-discriminatory rules issued for ease of Plan administration. 

(k) Notwithstanding anything in the Plan to the contrary and notwithstanding that the Plan does not provide for Participant loans, former
employees of Reliable Financial Services, Inc. and Reliable Finance Holding Company hired by Popular Auto LLC pursuant to that certain Asset Purchase Agreement dated February 14, 2018, by and between Reliable Financial Services, Inc., Reliable
Finance Holding Company, Wells Fargo & Company and Banco Popular de Puerto Rico who become Participants shall be permitted to rollover loans they may have had in their previous employer’s qualified plan subject to special loan
procedures prepared by the Plan administrator. 
 3.02 Limitations on Before-Tax
Contributions 
 (a) Notwithstanding the foregoing provisions of this Article III, the Plan Administrator shall limit the amount of Before-Tax Contributions made on behalf of each Highly Compensated Employee to the extent necessary to ensure that either of the following tests is satisfied: 

 

	 	(i)	 The Actual Deferral Percentage (as hereinafter defined) of the group of eligible Highly Compensated Employees
for the Plan Year is not more than the Actual Deferral Percentage of all other eligible Employees (non-Highly Compensated Employees) multiplied by 1.25; or 

  
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	 	(ii)	 The excess of the Actual Deferral Percentage for the group of eligible Highly Compensated Employees over that
of all other eligible non-Highly Compensated Employees for the Plan Year is not more than two percentage points, and the Actual Deferral Percentage for the group of eligible Highly Compensated Employees for
the Plan Year is not more than the Actual Deferral Percentage of all other eligible non-Highly Compensated Employees multiplied by 2.0. 

For the purposes of this Section 3.02, Section 3.04 and Section 3.05, eligible means eligible to be a Participant of this Plan
pursuant to Section 2.01(a). 
 For purposes of this Section 3.02, the term Actual Deferral Percentage shall mean, for a specified
group of Employees for a Plan Year, the average of the ratios (calculated separately for each person in such group) of 
 In the event it is
determined prior to any payroll period that the amount of Before-Tax Contributions elected to be made thereafter would cause the limitation prescribed in this Section 3.02 to be exceeded, the amount of Before-Tax Contributions allowed to be made on behalf of Highly Compensated Employees shall be reduced to a rate determined by the Plan Administrator, and any elections of future
Before-Tax Contributions which exceed the rate determined by the Plan Administrator shall be deemed to be After-Tax Contributions for the remainder of the Plan Year,
notwithstanding the limitations on contribution rate changes in Section 3.01(e), but subject to the limitation on After-Tax Contributions of Section 3.01(a). Except as is hereinafter provided, the
Participants to whom such reduction is applicable and the amount of such reduction shall be determined pursuant to such uniform and nondiscriminatory rules as the Plan Administrator shall prescribe. 

(b) Notwithstanding the provisions of the foregoing paragraph, with respect to any Plan Year in which
Before-Tax Contributions on behalf of Highly Compensated Employees exceed the applicable limit set forth in this Section 3.02, the Plan Administrator shall reduce the amount of the excess Before-Tax Contributions made on behalf of the Highly Compensated Employees (by reducing such contributions in order of Actual Deferral Percentages beginning with the highest), and shall distribute such excess Before-Tax Contributions (along with earnings attributable to such excess Before-Tax Contributions, as determined pursuant to such rules and regulations as shall be prescribed
by the Puerto Rico Department of the Treasury) to the affected Highly Compensated Employees as soon as practicable after the end of such Plan Year, and in all events prior to the end of the next following Plan Year. Any excess Before-Tax Contributions to be returned to Highly Compensated Employees shall be calculated and distributed using the methods allowed under the PR Code and its regulation. In lieu of such distribution of excess Before-Tax Contributions, the Plan Administrator may, to the extent permitted by applicable rules and regulations (and (i) except with respect to situations in which Section 3.01(h) applies, and
(ii) prior to March 15 of the calendar year following the Plan Year in which such contributions are 

  
 15 

 made or such later date as may be permitted under the PR Code), recharacterize as After-Tax Contributions for such Plan Year all or a portion of the Before-Tax Contributions for Participants who are Highly Compensated Employees to the extent necessary to
comply with the applicable limit set forth in this Section 3.02 and subject to the limitation on After-tax Contributions of Section 3.01(a). 

In lieu of either distributing or recharacterizing excess Before-Tax Contributions, the Employer may,
to the extent permitted by applicable rules and regulations, make a qualified nonelective contribution on behalf of non-Highly Compensated Employees in an amount sufficient to satisfy one of the non-discrimination tests set forth above. Allocation of any such qualified non-elective contribution would be to the Participant
Before-Tax Account of non-Highly Compensated Employees utilizing such uniform, non-discriminatory method as the Plan
Administrator may determine. 
 (c) Employer Matching Contributions attributable to the Before-Tax
Contributions of Highly Compensated Employees that have been distributed or recharacterized shall be held unallocated in a suspense account and, as of the end of the Plan Year, forfeited and added to and allocated with Employer Contributions in the
next following Plan Year. 
 3.03 Distributions of Excess Deferrals 

(a) Notwithstanding any other provision of the Plan, Excess Before-Tax Deferrals (as hereinafter
defined) and earnings allocable thereto, as determined pursuant to such rules and regulations as are prescribed by the Puerto Rico Department of the Treasury, may be distributed no later than April 15 (or such later date as may be permitted
under the PR Code) to Participants who claim such allocable Excess Before-Tax Deferrals (which shall be the Excess Before-Tax Deferrals plus earnings, if any) for the
preceding calendar year. 
 (b) The Participant’s claim shall be in writing; shall be submitted to the Plan Administrator no later than
March 1 (or such other date as the Plan Administrator may specify); shall specify the amount of the Participant’s Excess Before-Tax Deferral for the preceding calendar year; and shall be accompanied by the Participant’s written
statement that if such amounts are not distributed, the Excess Before-Tax Deferrals, when added to amounts deferred under other plans or arrangements described in PR Code Section 1081.01(d) exceeds the
limit imposed on the Participant in accordance with the applicable provisions of the PR Code for the year in which the deferral occurred. 

(c) Notwithstanding any provision of Articles III or IV to the contrary, any Employer Matching Contribution attributable to an Excess Before-Tax Deferral distributed to a Participant under Section 3.02(a) shall not be retained by or distributed to the Participant (unless and to the extent permitted under the PR Code and so determined by the
Employer in a uniform, nondiscriminatory manner), but shall be held unallocated in a suspense account and, as of the end of the Plan Year, forfeited and added to and allocated with Employer Contributions in the next following Plan Year. 

  
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 ARTICLE IV 

EMPLOYER CONTRIBUTIONS 

4.01 Amount of Employer Profit Sharing Contribution 

An Employer may contribute to the Trust, as of the end of each Plan Year, a percentage of the Employer’s Net Profits as an Employer Profit
Sharing Contribution. The amount of such contribution, if any, shall be determined by the Employer’s Board of Directors in its sole discretion. Any such contribution shall be made as soon as practicable after the close of the Employer’s
Fiscal Year. 
 4.02 Employer Matching Contribution 

(a) Effective July 28, 2017, the Employer will contribute to the Plan an Employer Matching Contribution, per payroll period, equal to
$0.50 for each dollar of Before-Tax Contribution made by a Participant up to 8% of Compensation yielding a maximum Employer Matching Contribution of 4%. If after matching all of a Participant’s Before-Tax Contributions a Participant’s total Employer Matching Contributions is not equal to 4% of the Participant’s Compensation, additional Employer Matching Contributions will be made to the
Participant’s Account, as stated above, based on the Participant’s Catch-up Contributions. 

Previously, effective July 17, 2015 and up to July 27, 2017, the Employer contributed to the Plan an Employer Matching Contribution,
per payroll period, equal to $0.50 for each dollar of Before-Tax Contribution made by a Participant up to 6% of Compensation yielding a maximum Employer Matching Contribution of 3%. If after matching all of a
Participant’s Before-Tax Contributions a Participant’s total Employer Matching Contributions were not equal to 3% of the Participant’s Compensation, additional Employer Matching Contributions
were made to the Participant’s Account, as stated above, based on the Participant’s Catch-up Contributions. 

Previously, effective April 1, 2013 and up to July 16, 2015, the Employer contributed to the Plan an Employer Matching Contribution,
per payroll period, equal to $0.50 for each dollar of Before-Tax Contribution made by a Participant up to 4% of Compensation yielding a maximum Employer Matching Contribution of 2%. If after matching all of a
Participant’s Before-Tax Contributions a Participant’s total Employer Matching Contributions were not equal to 2% of the Participant’s Compensation, additional Employer Matching Contributions
were made to the Participant’s Account, as stated above, based on the Participant’s Catch-up Contributions. 

(b) For the Plan Year starting on January 1, 2015 and ending on December 31, 2015, the additional Employer Matching Contributions
based on a Participant’s Catch-up Contributions were made as follows: 
  

	 	(i)	 For the period starting on January 1, 2015 and ending on July 16, 2015, the additional Employer
Matching Contribution were determined using the Compensation earned by a Participant within this period and an effective rate of Employer Matching Contribution of 2%. 

  
 17 

	 	(ii)	 For the period starting on July 17, 2015 and ending on December 31, 2015, the additional Employer
Matching Contribution were determined using the Compensation earned by a Participant within this period and an effective rate of Employer Matching Contribution of 3%. 

There was no Employer Matching Contribution for the period between March 20, 2009 and March 31, 2013. 

(c) After the close of the Plan Year on December 31, 2016 and the close of every Plan Year thereafter, the Plan Administrator shall
examine the Account of each Participant who is an Employee on the last day of the Plan Year to determine whether the Participant has received the maximum available Employer Matching Contribution based on a full Plan Year of Before-Tax Contributions and Catch-up Contributions, if applicable, and the Participant’s Compensation for the Plan Year, subject to any applicable Plan and/or legal
limitations. Any Participant who has not received the maximum Employer Matching Contribution shall receive an additional Employer Matching Contribution, called an Employer True-up Contribution, equal to the
difference between the Employer Matching Contribution received by the Participant during the Plan Year and the maximum Employer Matching Contribution computed by the Plan Administrator. 

(d) In determining whether a Participant is eligible for an Employer True-up Contributions the Plan
Administrator shall treat Participants whose employment has terminated during the Plan Year by reason of retirement, death or Total and Permanent Disability as being an Employee on the last day of the Plan Year. However, a Participant who transfers
employment from his Employer to an Affiliated Company that has not adopted the Plan at the request of his Employer or Popular, Inc. shall be eligible to participate in Employer True-up Contributions for the
Plan Year of such transfer of employment with respect to Before-Tax Contributions and Catch-up Contributions made, and Compensation earned, up to the date of
transfer.” 
 4.03 Allocation of Employer Contributions 

Employer Profit Sharing Contributions shall be allocated only to the Employer Contribution Account of Participants who are employed by the
Employer on the last day of the Plan Year and on behalf of Participants whose employment has terminated during the Plan Year by reason of retirement, death or Total and Permanent Disability, provided, however, that a Participant who transfers
employment from his Employer to an Affiliated Company at the request of his Employer or Popular, Inc. shall be eligible to participate in Employer Profit Sharing Contributions for the Plan Year of such transfer of employment with respect to
Compensation earned up to the date of transfer. Employer Matching Contributions shall be made by the Employer at the close of each payroll period. 

  
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 4.04 Investment of Employer Contributions 

The amounts allocated to each Participant pursuant to Sections 4.02 and 4.03 shall be credited to his Employer Contributions Accounts and
invested in accordance with the Participant’s investment directions. 
 4.05 Return of Employer Contributions 

(a) If, after an Employer Contribution has been made and allocated, it should appear that, through oversight, or a mistake of fact or law, a
Participant (or an Employee who should have been considered a Participant) who should have been entitled to share in such contribution, receives no allocation or received an allocation which was less than he should have received, the Employer may,
at its election and in lieu of reallocating such contribution, make a special make-up contribution for the Employer Contributions Account of such Participant in an amount sufficient to provide for him the same
addition to his Employer Contributions Account as he should have received. Similarly, if a Participant received an allocation which was more than he should have received (or a Participant was inappropriately included in the Plan), the Employer, at
its election, may reallocate such contribution, offset other Employer Contributions against such allocation, or use such allocation to pay Plan expenses. 

(b) To the extent permitted by ERISA, each contribution made to the Plan by the Employer shall be made on the condition that it is currently
deductible by the Employer under PR Code Section 1033.09 for the taxable year with respect to which the contribution is made. If a contribution is subsequently determined, whether in whole or in part, not to be currently deductible as provided
in the preceding sentence, the Employer may request that an amount equal to the disallowed deduction be returned to the Employer within one year of the date of disallowance of the deduction of such Employer Contribution. 

(c) Earnings attributable to a contribution that is returned pursuant to Subsection (a) or (b) above shall not be withdrawn, but losses
attributable thereto shall reduce the amount returned to the Employer. 
 4.06 Maximum Allocation – PR Code
Section 1081.01(a)(11(B). 
 (a) General Rule. Effective January 1, 2012, notwithstanding anything in this
Plan to the contrary, in no event shall amounts allocated to a Participant’s Account under the Plan exceed the limitations set forth in Section 1081.01(a)(11)(B) of the PR Code, which are hereby incorporated into the Plan. 

(b) Treatment of Excess Annual Additions. If the amount otherwise allocable to the Account of a Participant would exceed the amount
described in Section 1081.01(a)(11)(B) of the PR Code as a result of the reallocation of forfeitures, a reasonable error in estimating the Participant’s Compensation, a reasonable error in determining the amount of Pre-Tax Contributions that may be made with respect to the Participant under the limits of this Section 4.06, or such other circumstances as permitted by law, the Plan Administrator shall determine which
portion, if any, of such excess amount is attributable to the Participant’s Pre-Tax Contributions, Company Matching Contributions, , if any, and the following rules shall apply: 

  
 19 

	 	(i)	 Excess Pre-Tax Contributions and earnings thereon shall be paid to the
Participant as soon as administratively feasible. 

  

	 	(ii)	 Excess amounts attributable to Company Matching Contributions shall be held in a suspense account by the
Trustee until the following Plan Year (or any succeeding Plan Year) at which time such amounts shall be used to reduce Company Matching Contributions otherwise allocable to Participants for such Plan Year; amounts held in the suspense account shall
share in investment gains and losses of the Fund. 

 (c) Notwithstanding anything in this Section 4.06
to the contrary, the rule of Sections 4.06(b)(i) and 4.06(b)(ii) shall be deemed amended to comply with PR Code regulations that may be promulgated after January 1, 2011. 

ARTICLE V 
 INVESTMENT
OF CONTRIBUTIONS AND VALUATION OF ACCOUNTS 
 5.01 Establishment of Trust Funds 

Popular, Inc. shall appoint one or more Trustees and establish or adopt one or more Trust Funds to which all Employer and Employee
Contributions shall be made. The Trust Funds shall be held, invested, reinvested, used and disbursed by the Trustees in accordance with the provisions of the Plan and the Trust Agreements. 

Popular, Inc. may remove the Trustees at any time upon the provision of notice as required by the Trust Agreements. Popular, Inc. shall
designate successor Trustees as provided in the Trust Agreements. The Trustees shall have the sole and complete discretion with respect to the management and control of the Trust Funds including the exclusive and sole authority to vote on any matter
involving the shares of Popular, Inc. stock under the Plan except as provided under Section 5.05. In addition, Popular, Inc. shall not influence the manner or timing of any and all stock purchases made by the Trustees. 

No person shall have any interest in, or right to, the Trust Funds or any part thereof, except as expressly provided in the Plan or the Trust
Agreements. Any provisions of the Plan to the contrary notwithstanding, and except for the payment of expenses of the Plan and as provided in Section 4.05, no part of the assets of the Trust Funds shall, by reason of any modification,
amendment, termination, or otherwise, be used for or diverted to purposes other than for the exclusive benefit of Participants and their Beneficiaries. 

5.02 Operation of the Trust Funds 

All amounts of money, securities or other property received under the Plan shall be delivered to the Trustees under the Trust Funds, to be
managed, invested, reinvested and distributed for the exclusive benefit of the Participants and their Beneficiaries in accordance with the Plan. Separate, commingled funds for the investment of Plan assets held in the Trust Funds shall be
established and maintained under the Trust Funds. 

  
 20 

 5.03 Investment Funds 

(a) There shall be established as part of the Trust Funds a reasonable range of investment options. The Investment Committee may from time to
time, in its discretion, change, delete or add Investment Funds available within the Trust Funds; provided that unless and until the Plan is amended accordingly, the Plan shall provide Qualifying Employer Securities as an investment option. 

(b) Income from and proceeds of sales of investments in each Investment Fund shall be reinvested in the same Investment Fund. Any income or
other taxes payable with respect to an Investment Fund shall be charged to such Investment Fund. 
 (c) A Trustee may, from time to time,
make temporary investments in short term obligations of the United States Government, commercial paper, or other investments of a short-term nature, pending investment in an Investment Fund. 

5.04 Investment Direction 

(a) A Participant may elect that his Employee Contributions for each payroll period be invested in 1% increments totaling 100% in one or more
of the Investment Funds provided, that a Participant that elects to have more than 20% of his Employee Contributions invested in Qualifying Employer Securities, shall have such investment election reduced by the Plan Administrator to 20% of Employee
Contributions and the difference between the investment percentage elected by the Participant and 20% shall be invested in the Investment Fund that meets the requirements of Section 404(c)(5) of ERISA. Further provided, that if after having his
investment election in Qualifying Employer Securities reduced to 20% of Employee Contributions the Participant elects to change such investment election to a percentage greater than 20%, such investment election shall not be changed by the Plan
Administrator. Investment elections must be made pursuant to procedures prescribed by the Plan Administrator and shall be effective until and unless a Participant makes a different election for any period, but only as provided for under Subsection
5.04(c) and Subsection 5.04(d). If the Participant fails to file a timely initial investment election, he shall be deemed to have elected to have 100% of his Employee Contributions invested in such Investment Fund that meets the requirements of
Section 404(c)(5) of ERISA as may be determined by the Investment Committee from time to time. 
 (b) A Participant may change his
election with respect to future Participant and Employer Contributions pursuant to procedures prescribed by the Plan Administrator, and may not change his election in any other manner except as provided in Subsection 5.04(c). 

(c) Pursuant to procedures prescribed by the Plan Administrator, a Participant may elect to have any or all of the value in any of the
Investment Funds which are credited to his Employee and/or Employer Contribution Account transferred and invested in any one or more of the Investment Funds.

  
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 (d) To the extent that Participants direct the investment of their Accounts, it is intended
that ERISA Section 404(c) apply to the Plan, and neither the Employer, the Plan Administrator, the Investment Committee, the Trustees nor any other fiduciary will have any responsibility or liability for the Participant’s exercise of such
investment control or for any loss or diminution in value occasioned thereby. 
 5.05 Voting of Stock 

Voting, subscription and all other rights pertaining to shareholders of Qualifying Employer Securities will be passed through to Participants.
Before each meeting of shareholders or prior to any deadline for exercising owner’s rights, Popular, Inc. shall cause to be sent to each Participant a copy of any notice and any other information provided to shareholders and, if applicable, a
form for instructing the Trustee how to vote at a meeting of shareholders (or any adjournment thereof) the number of full and fractional shares subject to such person’s voting control. The Trustee may establish a deadline in advance of the
meeting or other event by which such forms must be received in order to be effective. As soon as practicable after the commencement of a tender or exchange offer for Qualifying Employer Securities, Popular, Inc. shall cause each person with power to
control the response to such tender or exchange offer to be advised, in writing, of the terms of the offer and, if applicable, to be provided with a form for instructing the Trustee, or for revoking such instruction, to tender or exchange shares of
Qualifying Employer Securities, to the extent permitted under the terms of such offer. In advising such persons of the terms of the offer, Popular, Inc. may include statements from the board of directors of Popular, Inc. setting forth its position
with respect to the offer. 
 If some or all of the Participants have not directed or have not timely directed the Trustee on how to vote or
tender, then the Trustee shall vote or tender such Qualifying Employer Securities in the same proportion as those shares of Qualifying Employer Securities for which the Trustee has received proper direction for such matter. 

If some or all of the Participants have not directed or have not timely directed the Trustee on with respect to any right, other than a voting
right or tender offer, then the Trustee shall not exercise any right with respect to shares of Qualifying Employer Securities for which it has not received proper direction for such matter. 

If the tender or exchange offer is limited so that all of the shares that the Trustee has been directed to tender or exchange cannot be sold
or exchanged, the shares that each Participant directed to be tendered or exchanged shall be deemed to have been sold or exchanged in the same ratio that the number of shares actually sold or exchanged bears to the total number of shares that the
Trustee was directed to tender or exchange. 
 The Trustee shall hold the Participant’s individual directions with respect to any
exercise of owner’s rights in confidence and, except as required by law, shall not divulge or release such individual directions to anyone associated with Popular, Inc. Popular, Inc. may require verification of the Trustee’s compliance
with the directions received from Participants by any independent auditor selected by Popular, Inc., provided that such auditor agrees to maintain the confidentiality of such individual directions. 

  
 22 

 Popular, Inc. may develop procedures to facilitate the exercise of voting or tender rights
such as the use of facsimile transmissions or other electronic means for Participants located in physically remote areas. 
 5.06
Valuation 
 (a) As of each Valuation Date, each Trust Fund shall be valued at its fair market value to reflect the effect of income
received and accrued, realized and unrealized profits and losses, and all other transactions since the preceding Valuation Date. Such valuation shall be conclusive and binding upon all persons having an interest in a Trust Fund. 

(b) All contributions made on behalf of, or allocated to, a Participant shall be credited to his Account. As of any Valuation Date, the value
of a Participant’s Account shall be the value of such Account as of the immediately preceding Valuation Date adjusted to reflect changes in the value of the Trust Funds allocable thereto in accordance with (a) above plus the amount of
contributions and forfeitures, if any, credited thereto and less any distributions made therefrom since the immediately preceding Valuation Date. 

5.07 Accounting Procedures 

The Plan Administrator shall have complete discretion to establish and utilize an accounting system to account for the interest of each
Participant. To the extent permitted by the PR Code and Regulations, the Plan Administrator may change the accounting system from time to time. 

5.08 Payment of Expenses 

All expenses which arise in connection with the administration of the Plan and the Trust Funds including, but not limited to, the compensation
of the Trustees and of any recordkeepers, accountants, counsel, or other persons appointed by the Plan Administrator, Popular, Inc. or the Trustees shall be paid out of the Trust Funds, unless paid by the Employer. 

ARTICLE VI 

DISTRIBUTIONS 
 6.01
Distributions on Retirement or Total and Permanent Disability 
 Each Participant who terminates employment on account of his
Retirement or Total and Permanent Disability shall have a nonforfeitable right to receive a distribution of his entire Account. Distribution shall be made in accordance with Sections 6.05 and 6.06. 

6.02 Distributions on Death 

Upon an Active Participant’s death, his Beneficiary shall have a nonforfeitable right to receive a distribution of the Participant’s
entire Account. Upon the death of an Inactive Participant, his Beneficiary shall have a nonforfeitable right to receive that portion of his Account which was vested in accordance with Section 6.03. Distribution shall be made in accordance with
Sections 6.05 and 6.06. 

  
 23 

 6.03 Distribution Upon Termination of Employment 

Any Participant who has a Termination of Employment for any reason other than Retirement, Total and Permanent Disability or death, shall have
a nonforfeitable right to receive that portion of his Account which is vested in accordance with the following schedule: 
  

					
	 Years of Service
	  	Nonforfeitable Vested
Interest	 
	 Less than 1 year
	  	 	0	% 
	 1 but less than 2 years
	  	 	20	% 
	 2 but less than 3 years
	  	 	40	% 
	 3 but less than 4 years
	  	 	60	% 
	 5 but less than 5 years
	  	 	80	% 
	 5 or more years
	  	 	100	% 

 Participant Contributions are always a 100% vested. 

Distributions shall be made in accordance with Sections 6.05 and 6.06. 

Upon the Termination of Employment of a Participant who is not otherwise 100% vested in his Account, the Plan Administrator shall reflect any
prior distributions in determining the Participant’s current vested interest in his Account in order to avoid duplication of payments. 

Notwithstanding anything in the Plan to the contrary, former employees of Citibank, N.A. hired by Banco Popular de Puerto Rico pursuant to
that certain Asset Purchase Agreement dated August 9, 2007, by and between Citibank, N.A. and Banco Popular de Puerto Rico and former employees of Citigroup Global Markets, Inc. hired by Popular Securities, Inc. pursuant to that certain Asset
Purchase Agreement dated August 29, 2007, by and between Citigroup Global Markets, Inc. and Popular Securities, Inc., who become Participants shall be fully vested at all times in the value of their Account. 

Notwithstanding anything in the Plan to the contrary, former employees of Wells Fargo Advisor LLC hired by Popular Securities, Inc. pursuant
to that certain Asset Purchase Agreement dated July 13, 2011, by and between Wells Fargo Advisor LLC and Popular, Securities, Inc., who become Participants shall be fully vested at all times in the value of their Account. 

  
 24 

 Notwithstanding anything in the Plan to the contrary, employees of Evertec, Inc considered
Transferred Employees pursuant to that certain Agreement and Plan of Merger, by and among Popular, Inc., AP Carib Holding LTD., Carib Acquisition, Inc. and Evertec, Inc., shall be fully vested at all times in the value of their Account. 

Notwithstanding anything in the Plan to the contrary, employees of Popular Insurance, Inc. or Popular Risk Services, Inc. who elected to
participate in the Voluntary Separation Program adopted by Popular Insurance, Inc. and Popular Risk Services, Inc., who are Participants shall be fully vested at all times in the value of their Account. 

Notwithstanding anything in the Plan to the contrary, former employees of Reliable Financial Services, Inc. and Reliable Finance Holding
Company hired by Popular Auto LLC pursuant to that certain Asset Purchase Agreement dated February 14, 2018 by and between Reliable Financial Services, Inc., Reliable Finance Holding Company, Wells Fargo & Company and Banco Popular de
Puerto Rico who become Participants shall be fully vested at all times in the value of their Account. 
 6.04 Forfeitures 

That portion of a Participant’s Account not vested at the date of his Termination of Employment shall be forfeited. A former Participant
who returns to employment with the Employer after a Period of Severance of sixty (60) months will receive credit for all his prior years of service for vesting purposes. 

Forfeitures shall be determined at least once during each Plan Year. Forfeitures may first be used to pay administrative expenses. Forfeitures
of Employer Matching Contributions that relate to excess Before-Tax Contributions or Before-Tax Excess Deferrals determined under Sections 3.02 and 3.03, respectively,
that have not been used to pay administrative expenses, shall be applied to reduce Employer Contributions made after the forfeitures are determined. Any other forfeitures that have not been used to pay administrative expenses shall be applied to
reduce the earliest Employer Contributions made after the forfeitures are determined. Upon their application to reduce Employer Contributions, forfeitures shall be deemed to be Employer Contributions. 

If a Participant receives a distribution and resumes employment covered under the Plan before the Participant has a Period of Severance of
sixty (60) months, the Employer shall restore to the Employer Contribution Account of such a Participant an amount equal to the dollar amount of the forfeitures from such Account if the Participant repays to the Plan an amount equal to the
dollar amount of the distributions from the Participant’s Employer Contribution Account. A repayment must be made before the earlier of (a) 5 years after the first date on which the Participant is subsequently reemployed by the Employer,
or (b) the date the Participant incurs a Period of Severance of sixty (60) months following the date of distribution. 

  
 25 

 6.05 Forms of Payment 

(a) Subject to the provisions of Section 6.10, a Participant may elect to receive payment of his vested Account in the following payment
forms: 
  

	 	(i)	 in a one time partial distribution in shares of Popular, Inc. common stock in a maximum amount equal to the
amount over which income taxes were prepaid pursuant to Act 87 of May 13, 2006, as amended plus, After-Tax Contributions for that portion of the Participant’s vested Account which is invested in
Popular, Inc. common stock; 

  

	 	(ii)	 in a lump sum consisting of either: 

 

	 	(A)	 all cash; or 

  

	 	(B)	 cash and shares of Popular, Inc. common stock for that portion of the Participant’s vested Account which
is invested in Popular, Inc. common stock; 

  

	 	(iii)	 in a series of equal monthly payments of no less than $500 per month; or 

 

	 	(iv)	 a combination of (i), (ii) and (iii) above. 

(b) Participants who elect to receive their distribution in the form provided in Section 6.05(a)(iii) or, in the form provided in
Section 6.05(a)(iv), if such election includes a series monthly payments described in 6.05(a)(iii), may change the amount of their equal monthly payments or elect another type of available distribution once every Plan Year, provided that such
an election shall not take effect until the later to occur of (i) the first day of the seventh month following the date of the election or, (ii) the first day of the Plan Year following the Plan Year in which the election was made. 

(c) Participants that elect to receive their distribution in a lump sum pursuant to Section 6.05(a)(ii) above may elect at the time of
distribution to have all or a portion of the distribution transferred in a direct rollover to another Eligible Retirement Plan (as defined in Section 6.11(b)) pursuant to Section 6.11. 

(d) Notwithstanding anything in the Plan to the contrary lump sum distributions pursuant to AD 17-29
will be allowed to terminated Participants. Terminated Participants must complete the sworn statement required Puerto Rico Department of the Treasury Administrative Determination 17-29. 

6.06 Timing of Payment 

Subject to the provisions of Section 6.10 a Participant (or Beneficiary) may elect to have payment of his vested Accounts payable to him
under this Article VI paid or commence as soon as practicable after: 
 (a) The date of his death, Retirement, Total and Permanent Disability
or other Termination of Employment based on the value of his vested Account determined as of the Valuation Date coincident with or next following such date, or 

  
 26 

 (b) If such date occurs prior to his Normal Retirement Date, any Valuation Date coincident
with or preceding his Normal Retirement Date, based on the value of his vested Account as of such Valuation Date. 
 In the event that a
Participant does not elect the time as of which his distribution is to commence then subject to Section 6.10, his Vested Accounts shall be paid as soon as practicable following his Normal Retirement Date. 

A Participant will be given a notice of his right to make an election under this Section within the period beginning no earlier than 90 days
before the Valuation Date as of which the Participant’s distribution is to begin and no later than 30 days before this Valuation Date. The Participant’s election (and any spousal consent, if applicable) must be made at least 30 days after
the notice is provided unless the Participant has received notice of his or her right to have at least 30 days to review this notice before making an election, the Participant makes an affirmative election prior to the expiration of the 30 days and
the distribution of the Participant’s benefit commences more than seven days after such notice is provided. 
 The Participant (or
Beneficiary) shall provide to the Plan Administrator a written election at least 30 days preceding any applicable Valuation Date, indicating the date benefits are to be paid or commence and the form of payment elected. 

A Participant who has elected to receive his distribution in the form provided in Section 6.05(a)(i) or Section 6.05(a)(ii) may not
change his election on or after the date on which benefit payments have commenced. A Participant who has elected to receive his distribution in the form provided in Section 6.05(a)(iii) or in the form provided in Section 6.05(a)(iv), if
such election includes a series monthly payments described in 6.05(a)(iii), may change the amount of their equal monthly payments or elect another type of available distribution on or after the date on which benefit payments have commenced once
every Plan Year, provided that such an election shall not take effect until the later to occur of (i) the first day of the seventh month following the date of the election or, (ii) the first day of the Plan Year following the Plan Year in
which the election was made. 
 6.07 Withdrawal of After-Tax Contributions 

Prior to his Termination of Employment, a Participant may elect to withdraw, in cash or shares of Popular, Inc. common stock for that portion
of the Participant’s Account relating to After-Tax Contributions which are invested in Popular, Inc. common stock, any or all of the value of his After-Tax
Contributions. Withdrawals of After-Tax Contributions shall be limited to once a calendar quarter and may not be in an amount less than $1,000.00. Also, withdrawals of
After-Tax Contributions shall be subject to such procedures and conditions as the Benefits Committee may determine, applied to all Participants in a uniform,
non-discriminatory manner. 

  
 27 

 6.08 Hardship Withdrawals 

(a) Subject to non-discriminatory, uniform rules prepared by the Plan Administrator, withdrawals may be
made from the Employee Contribution Account on account of a hardship. A Hardship Withdrawal of the Employee Contribution Account may be permitted under the following circumstances: 

 

	 	(i)	 The distribution is necessary on account of an immediate and heavy financial need of the Participant, and

  

	 	(ii)	 The distribution is necessary to satisfy such financial need. 

(b) A distribution will be deemed to be made on account of an immediate and heavy financial need of the Participant if the distribution is made
on account of: 
  

	 	(i)	 Unreimbursed necessary medical expenses as described in Section 1033.15(a)(4) of the PR Code previously
incurred by the Participant, his spouse, children or any of his dependents (as defined in PR Code Section 1033.18(c)(1)(A)) or unreimbursable medical expenses described in Section 1033.15(a)(4) of the PR Code necessary for such persons to
obtain medical care. 

  

	 	(ii)	 The down-payment and reasonable closing costs for the purchase (excluding mortgage payments) of the
Participant’s first residence. 

  

	 	(iii)	 Payment of tuition, related educational fees, excluding books and room and board expenses, for the next 12
months of post-secondary education for the Participant, his or her spouse, children or dependents (as defined in PR Code Section 1033.18©(1)(A)). 

 

	 	(iv)	 Payment of funeral expenses due to the death of a participant’s family member. 

 

	 	(v)	 A substantial reduction in income due to reasons beyond the control of the participant or his or her spouse.

  

	 	(vi)	 Such other reasons as may be provided by the Puerto Rico Secretary of the Treasury by means of Administrative
Determination, Notices or, such other document of general applicability, as approved by the Puerto Rico Subsidiaries Benefits Committee. 

  

	 	(vii)	 Such other reasons as may be approved by the Popular, Inc. Benefits Committee. 

(c) A distribution will not be treated as necessary to satisfy an immediate and heavy financial need of a Participant to the extent the amount
of the requested distribution is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Participant. This determination will be made on the
basis of all relevant facts and circumstance. A distribution may be treated as necessary to satisfy a financial need if the Plan Administrator reasonably relies upon the Participant’s representation that the need cannot be relieved: 

 

	 	(i)	 Through reimbursement or compensation by insurance or otherwise; 

 

	 	(ii)	 By reasonable liquidation of the Participant’s assets, to the extent such liquidation would not itself
cause an immediate and heavy financial need. 

  
 28 

	 	(iii)	 By suspension of contributions to the Plan; 

 

	 	(iv)	 By distributions or loans from any other plans in which the Participant participates; or 

 

	 	(v)	 Commercial loans on reasonable terms. 

(d) Hardship distributions shall be made from a Participant’s Account in the following order: 

 

	 	(i)	 After-Tax Contributions; 

 

	 	(ii)	 After-Tax rollover contributions; 

 

	 	(iii)	 Before-tax rollover contribution; 

 

	 	(iv)	 Vested unrestricted Profit Sharing Contributions; 

 

	 	(v)	 Vested Matching Contributions; 

 

	 	(vi)	 Vested restricted Profit Sharing Contributions; and 

 

	 	(vii)	 Before-Tax Contributions (subject to a
6-month suspension of future Before-Tax Contributions). 

(e) The Plan Administrator shall apply the standards set forth in this Section 6.08 on a uniform and
non-discriminatory basis to all such Employees who are Participants in the Plan. 
 (f) Hurricane
María Hardship Withdrawals. Effective September 20, 2017 and expiring on June 30, 2018, Participants shall be allowed to make hardship distributions as provided in Section 6.08 subject to the following additional terms and
conditions: 
  

	 	•	 	 Maximum hardship withdrawal will be 25% of the Plan participant’s vested balance 

 

	 	•	 	 The normal 6-month participation suspension will not apply 

 

	 	•	 	 Participants may only make one withdrawal and must apply on or before June 1, 2018 

 

	 	•	 	 Distributions will be made from the following sources in the order presented: 

 

	 	•	 	 Employer profit sharing contributions 

 

	 	•	 	 Employee pre-tax contributions 

 

	 	•	 	 Rollover pre-tax contributions 

 

	 	•	 	 Employer match contributions 

 

	 	•	 	 Rollover after-tax contributions 

 

	 	•	 	 Employee after-tax contributions 

 

	 	•	 	 Participants must complete the sworn statement required by Puerto Rico Department of the Treasury Administrative
Determination 17-29. 

 6.09 Commencement of Benefit Payments 

Notwithstanding the foregoing, unless the Participant elects otherwise, distribution shall commence no later than the 60th day after the last day of the Plan Year after the latest, in which the Participant: 

  
 29 

	 	(i)	 attains his Normal Retirement Date 

 

	 	(ii)	 attains his 10th anniversary of Plan participation or

  

	 	(iii)	 terminates his employment. 

6.10 Cash Outs 

Notwithstanding any other provision of the Plan, if a Participant’s vested Account determined as of the Valuation Date immediately
following his Termination of Employment is $5,000 or less, his vested Account will be distributed to him immediately in one lump sum payment. If the value of the Participant’s vested Account as of such Valuation Date exceeds $5,000 no
distribution shall be made to such Participant prior to the date he attains his Normal Retirement Date without his written consent. In the absence of receipt of such consent by the Plan Administrator, distribution to such Participant shall be made
in a lump sum as of the Valuation Date coincident with or next following his Normal Retirement Date. 
 6.11 Direct Rollovers 

Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Participant’s or Beneficiary’s election under
this Section 6.11, a Participant or Beneficiary may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by
the Participant or Beneficiary in a direct rollover: 
 (a) Eligible rollover distribution: An eligible rollover distribution is any
distribution of all of the balance to the credit of the Participant, 
 (b) Eligible retirement plan: An eligible retirement plan is an
individual retirement account described in Section 1081.02(a) of the PR Code, an individual retirement annuity described in Section 1081.02(b) of the PR Code, or a qualified trust described in Section 1081.01 of the PR Code, that
accepts the Participant’s or Beneficiary’s eligible rollover distribution. 
  

	 	(c)	 Direct rollover: A direct rollover is a payment by the Plan to the eligible retirement plan specified by the
distributee. 

 6.12 Distributions for Adoption and Fertility Treatment Expenses  

Subject to uniform, non-discriminatory rules and procedures established by the Benefits Committee for
this purpose, a Participant may request a distribution from the vested portion of his Profit Sharing Account and his Matching Contributions Account to cover the expenses incurred by the Participant: 

  
 30 

 (a) in the adoption of a child by the Participant or the Participant and his spouse; and

 (b) for fertility treatments for the Participant and/or the Participant’s spouse. 

Distributions from the Plan to cover adoption and fertility treatment expenses shall be limited to a lifetime maximum of $10,000 for each of these types of
expenses per Participant. 
 6.13 Special Temporary Withdrawal Feature 

Effective August 15, 2014 and ending on October 31, 2014, subject to such uniform,
non-discriminatory rules and procedures as the Plan Administrator may determine, Participants shall be allowed to withdraw up to 50% of their vested Account balance to prepay the 8% tax enacted by Act 77-2014, on their Account balances under the Plan, the Banco Popular de Puerto Rico Retirement Plan and the Banco Popular de Puerto Rico Tax Qualified Retirement Restoration Plan. 

ARTICLE VII 
 PLAN
ADMINISTRATION 
 7.01 Appointment of a Benefits Committee 

The Board of Directors of Popular, Inc. shall appoint a Benefits Committee which shall be the plan administrator and named fiduciary under
ERISA. The Benefits Committee shall consist of five or more persons and shall serve at the pleasure of, and may be removed at any time by, Popular, Inc. The Board of Directors of Popular, Inc. shall designate one of such persons to serve as
Chairman. Participants may be members of the Benefits Committee. No member of the Benefits Committee shall receive compensation for his services as such. 

The Benefits Committee may delegate to an Administrative Committee the day to day duties of administering the Plan pursuant to a charter
adopted by the Board of Directors of Popular, Inc. for such purposes. 
 7.02 Operation of the Benefits Committee 

A majority of the members of the Benefits Committee at the time in office shall constitute a quorum for the transaction of business. All
resolutions or other action taken by the Benefits Committee shall be by vote of a majority of its members present at any meeting, or without a meeting, by instrument in writing signed by all its members. 

The Chairman of the Benefits Committee shall appoint a Secretary who may but need not be a member of the Benefits Committee. The Benefits
Committee may delegate any of its powers or duties among its members or to others as it shall determine. It may authorize one or more of its members to execute or deliver any instrument or to make any payment in its behalf. It may employ such
counsel, agents, clerical, accounting and actuarial services as it may require in carrying out the provisions of the Plan, and to the extent permitted by law it shall be entitled to rely upon all tables, valuations, certificates, opinions, or other
reports furnished by such persons. 

  
 31 

 7.03 Powers and Duties of the Benefits Committee 

Pursuant to a charter adopted by the Board of Directors of Popular, Inc. for such purposes, the Benefits Committee shall have all powers
necessary to administer the Plan except to the extent any such powers are vested in any other fiduciary by the Plan or by the Benefits Committee. The Benefits Committee may from time to time establish rules for the administration of the Plan, and it
shall have the exclusive right to interpret the Plan and to decide any matters arising in connection with the administration and operation of the Plan. The Benefits Committee’s rules, interpretations and decisions shall be applied in a uniform
manner to all Employees similarly situated and shall be conclusive and binding on the Employer and on Participants and Beneficiaries to the extent permitted by law. 

The Administrative Committee shall compute and certify to the Trustees the amount of retirement benefits payable under the provisions of the
Plan to any Participant terminating his employment with a retirement benefit or to any Beneficiary. 
 7.04 Delegation of
Responsibility 
 Each fiduciary shall discharge his duties with respect to the Plan solely in the interest of the Participants and
Beneficiaries, for the exclusive purpose of providing benefits to such persons and defraying reasonable expenses of administering the Plan, while using the care, skill, prudence, and diligence, under the circumstances then prevailing that a prudent
man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims. 

The members of the Benefits Committee and any person to whom the Benefits Committee may delegate any of its powers under the Plan may employ
persons to render advice with regard to any responsibility he has under the Plan. No fiduciary shall be liable for any act or omission of another person in carrying out any fiduciary responsibility where such fiduciary responsibility is allocated to
such other person by or pursuant to the Plan, except to the extent required by Section 405 of ERISA. 
 7.05 Indemnification of the
Benefits and Investment Committees 
 Popular, Inc. may indemnify each member of the Benefits Committee and the Investment Committee
against all liabilities and expenses, including attorneys= fees, reasonably incurred by him in connection with any legal action to which he may be a party, or any threatened legal action to which he might have become a party, by reason of his
membership in the Benefits Committee, the Investment Committee or both, except with regard to any matters as to which he shall be adjudged to be liable for willful misconduct in the performance of his duties as such a member. 

  
 32 

 ARTICLE VIII 

CLAIMS PROCEDURE 

8.01 Notification of Benefit Eligibility 

The Plan Administrator shall notify Participants of the retirement benefits to which they are entitled as soon as is practical following each
Participant’s Termination of Employment. Filing of a claim shall not be required for benefit commencement. 
 8.02 Initial Review of
Claims 
 If a Participant or Beneficiary has reason to believe that he is entitled to retirement benefits from the Plan in excess of
those about which he is notified in accordance with Section 8.01, he may file a claim in writing with the Plan Administrator no later than three (3) years following the date the benefit amount is paid (or commences to be paid). A
Participant or Beneficiary who believes that he or she otherwise has been denied a right or benefit under the Plan to which he or she is entitled, must file a claim within three years following the date the Participant or Beneficiary first knew or
exercising reasonable care should have known of the claim. A Participant or Beneficiary must submit any necessary forms and needed information when making a claim hereunder. 

If the Plan Administrator denies the claim, the claimant shall be notified in writing of the denial within 90 days after the Plan
Administrator’s receipt of the claim (unless the Participant is given written notification within the initial 90 days that an extension of not more than 90 days is needed). The notice shall be written in a manner calculated to be understood by
the Participant or Beneficiary and shall (a) set forth the specific reason or reasons for the denial, (b) make reference to the pertinent provisions of the Plan on which the denial is based, (c) describe any additional material or
information that should be received before the claim request may be acted upon favorably, and explain why such material or information, if any, is needed and (d) inform the person making the claim of his right to request a review of the
decision by the Plan Administrator. 
 8.03 Review of Claim Denial 

Any person who believes that he has submitted all available and relevant information may request a review of the denial of his claim by the
Plan Administrator by submitting a written request for review within 60 days after the date on which such denial is received. This period may be extended by the Plan Administrator for good cause shown. The person making the request for review may
examine pertinent Plan documents. The request for review may discuss any issues relevant to the claim. 
 The Plan Administrator shall
decide whether or not to grant the claim within 60 days after receipt of the request for review, but this period may be extended for up to an additional 60 days in special circumstances. The Plan Administrator’s decision shall be written in a
manner calculated to be understood by the Participant or Beneficiary and, shall include specific reasons for the decision, and shall refer to the pertinent provisions of the Plan on which the decision is based. 

  
 33 

 A Participant or Beneficiary may bring a civil action under ERISA Section 502(a) no
later than three (3) years following the date of receipt of the final decision on review of the Participant’s or Beneficiary’s claim, or if earlier, the expiration of the statute of limitations otherwise applicable to such action.

 ARTICLE IX 

AMENDMENT OR TERMINATION OF THE PLAN OR DISCONTINUANCE OF CONTRIBUTIONS 

9.01 Right to Amend or Terminate the Plan 

(a) Popular, Inc. may amend the Plan, retroactively or otherwise, at any time. No such amendment may have the effect of vesting in the Employer
any part of the Trust Fund, or of diverting any part of the Trust Fund to purposes other than for the exclusive benefit of Participants and Beneficiaries, until all liabilities with respect to such persons have been satisfied or provided for. No
amendment shall deprive any Participant or Beneficiary of any retirement benefit therefore vested in him. 
 In addition, no Plan amendment
shall have the effect of decreasing the accrued benefit (except as permitted under Section 204(g) of ERISA) of anyone who is a Participant on the date the amendment is adopted or becomes effective, whichever is later. For purposes of this
paragraph, a plan amendment which has the effect of (i) eliminating or reducing an early retirement benefit or a retirement-type subsidy, or (ii) eliminating an optional form of benefit, with respect to benefits attributable to service
before the amendment shall be treated as reducing accrued benefits. 
 The continuance of the Plan and the payment of contributions under
the Plan are entirely voluntary and are not assumed as contractual obligations of Popular, Inc. or an Employer. Popular, Inc. reserves the right to terminate the Plan in whole or in part or to discontinue contributions thereunder. Each employer
reserves the right to terminate the Plan in whole or in part with respect to its Employees or to discontinue contributions thereunder. 
 (b)
Amendment to Vesting Provisions. If the vesting provisions of this Plan are amended, (i) any Participant who, as of the end of the election period described below had been credited with at least three Years of Service may irrevocably
elect to have his nonforfeitable interest computed without regard to the amendment and (ii) a Participant’s nonforfeitable interest shall not be less than his nonforfeitable percentage computed under the Plan without regard to such
amendment. Notice of the amendment and the availability of the election shall be given to each such Participant, and the election may be exercised by the Participant by notice to the Plan Administrator within 60 days after the later of
(i) the Participant’s receipt of the notice, (ii) the day the amendment is adopted or (iii) the effective date of the amendment. 

(c) Amendment to Maintain Qualified Status. Notwithstanding anything to the contrary in Section 8.01, Popular, Inc. in its
discretion, may make any modifications or amendments to the Plan, retroactively or prospectively, which it deems appropriate to establish or maintain the Plan and the Trust Agreement as a qualified employees’ plan and tax-exempt trust under Sections 1081.01(a) and (d) of the PR Code. 

  
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 9.02 Result of Termination 

(a) Upon termination of the Plan as to any Employer, such Employer shall not make any further contributions under the Plan and no amount shall
thereafter be payable under the Plan to or in respect of any Participants then employed by such Employer except as provided in this Article IX. To the maximum extent permitted by ERISA, the rights of Participants no longer employed by such Employer
and former Participants and their Beneficiaries under the Plan shall be unaffected by such termination and any transfers, distributions or other dispositions of the assets of the Plan as provided in this Article IX shall constitute a complete
discharge of all liabilities under the Plan with respect to such Employer’s participation in the Plan and any Participant then employed by such Employer. 

(b) The interest of each such Participant in service with such Employer as of the termination date in his Account, after payment of or
provision for expenses and charges and appropriate adjustment of the Accounts of all such Participants for expenses, charges, forfeitures and profits and losses, shall be nonforfeitable as of the termination date, and upon receipt by the Plan
Administrator of Puerto Rico Department of the Treasury approval of such termination, the full current value of such amount shall be paid from the Trust Fund in the manner described in Article VI or transferred to a successor employee benefit plan
which is qualified under PR Code Section 1081.01 or to an individual retirement arrangement described in PR Code Section 1081.02; provided, however, that in the event of any transfer of assets to a successor employee benefit plan the
provisions of Section 10.04 will apply. 
 (c) All determinations, approvals and notifications referred to above shall be in form and
substance and from a source satisfactory to counsel for the Plan. To the maximum extent permitted by ERISA, the termination of the Plan as to any Employer shall not in any way affect any other Employer’s participation in the Plan. 

ARTICLE X 

MISCELLANEOUS PROVISIONS 

10.01 Contract of Employment 

The Plan shall not be deemed to constitute a contract between any Employee and the Employer or to be a consideration or an inducement to any
Employee for his employment by the Employer. Nothing contained in the Plan shall be deemed to give any Employee the right to be retained in the employ of the Employer or to interfere with the right of the Employer to discharge or to terminate the
employment of an Employee at any time without regard to the effect of such action on his rights under the Plan. No Participant or Beneficiary shall have any rights against the Employer for benefits payable under the Plan other than rights, if any,
which he may have with respect to the Trust Fund. 

  
 35 

 10.02 Furnishing of Information 

Unless otherwise expressly provided in the Plan, all benefits to which any Participant may be entitled shall be determined in accordance with
the provisions of the Plan as in effect on such Participant’s Severance from Service Date. In order to receive any benefits under the Plan, a Participant must furnish the Plan Administrator with such information as may reasonably be required
for purposes of the proper administration of the Plan. 
 10.03 Assignment or Alienation of Benefits 

Any benefit payable under the Plan shall not be subject in any manner to assignment, alienation, anticipation, sale, transfer, pledge,
encumbrance, lien or charge, and any attempt to cause any such benefit to be so subjected shall not be recognized except to such extent as may be required by law. 

10.04 Merger of Plans 
 In
the event of any merger or consolidation of the Plan with, or transfer of assets or liabilities of the Plan to, any other qualified plan, each Participant shall (if such other plan then terminates) be entitled to receive a benefit immediately after
any such merger, consolidation or transfer which is equal to or greater than the benefit to which he would have been entitled immediately before such merger, consolidation or transfer (if the Plan had then terminated). 

10.05 Substitute Payee 

If a Participant or Beneficiary entitled to receive any retirement benefits from the Plan is in his minority, or is, in the judgment of the
Plan Administrator, legally, physically or mentally incapable of personally receiving and receipting for any distribution, the Plan Administrator may make distributions to his legally appointed guardian, or to such other person, persons or
institutions as it may judge to be then maintaining or to have custody of the Payee. 
 10.06 Domestic Relations Order 

For purposes of this Article X, a Domestic Relations Order shall refer to a judgment, decree or order (including the approval or a property
settlement) that is made pursuant to a state domestic relations or community property law, and which relates to the provisions of child support, alimony payments, or marital property rights to a spouse, child or other dependent of a Participant.

 10.07 Qualified Domestic Relations Order 

For purposes of this Article X, a Qualified Domestic Relations Order shall refer to a Domestic Relations Order that (a) clearly specifies
(i) the name and last known mailing address of the Participant and of each person given rights under such Domestic Relations Order, (ii) the amount or percentages of the Participant’s benefits under this Plan to be paid to each person
covered by such Domestic Relations Order, (iii) the number of payments or the period to which such Domestic Relations Order applies, and (iv) the name of this Plan; and (b) does not require the 

  
 36 

 
payment of a benefit in a form or amount that is (i) not otherwise provided for under the Plan, or (ii) inconsistent with a previous Qualified Domestic Relations Order. A Domestic
Relations Order shall not be considered to be a Qualified Domestic Relations Order merely because it requires a distribution to a person, other than a Participant, (or the segregation of accounts pending distribution to such other person), before
the Participant is otherwise entitled to a distribution under the Plan. 
 10.08 Procedures involving Domestic Relations Orders 

Notwithstanding the provisions of Section 10.03 to the contrary, upon receiving a Domestic Relations Order, the Plan Administrator shall
segregate in a separate account or in an escrow account the amounts payable to any person pursuant to such Domestic Relations Order, pending a determination whether such Domestic Relations Order constitutes a Qualified Domestic Relations Order, and
shall give notice of the receipt of the Domestic Relations Order to the Participant and each other person affected thereby. 
 If, within 18
months after receipt of such Domestic Relations Order, it is determined by the Plan Administrator, by a court of competent jurisdiction, or otherwise, that such Domestic Relations Order constitutes a Qualified Domestic Relations Order, the Plan
Administrator shall direct the Trustee to segregate the amounts (plus any interest thereon) in an account for the person (or persons) entitled thereto under the Qualified Domestic Relations Order. Such individual shall, thereafter, be considered a
terminated vested Participant under the Plan. If it is determined that the Domestic Relations Order is not a Qualified Domestic Relations Order or if no determination is made within the prescribed 18-month
period, the segregated amounts shall be desegregated as though the Domestic Relations Order had not been received, and any later determination that such Domestic Relations Order constitutes a Qualified Domestic Relations Order shall be applied only
with respect to benefits on the date of such determination. 
 The Plan Administrator shall be authorized to establish such reasonable
uniform, non-discriminatory administrative procedures as is deemed necessary or appropriate to administer this Section 10.08. This Section 10.08 shall be construed and administered so as to comply
with the requirements of Section 206(d)(3) of ERISA. 
 10.09 Gender and Number 

The masculine pronoun, whenever used herein, shall include the feminine pronoun, and the singular number shall include the plural number, unless the context of
the Plan clearly indicates otherwise. 
 10.10 Governing Law 

The Plan shall be governed by the laws of the Commonwealth of Puerto Rico to the extent not preempted by applicable Federal law. 

  
 37EX-4.5

 Exhibit 4.5 

Popular, Inc. USA 401(k) Savings & Investment Plan 

Principal Financial Group 401(k) Volume Submitter 
 Approved
August 8, 2014 
 Amend No. 4 Effective December 31, 2018 

 TABLE OF CONTENTS 

 

							
	 INTRODUCTION
	 		  	 	3	 
			
	 ARTICLE I
	 	 FORMAT AND DEFINITIONS
	  	 	4	 
			
	 Section 1.01
	 	 Format
	  	 	4	 
	 Section 1.02
	 	 Definitions
	  	 	4	 
			
	 ARTICLE II
	 	 PARTICIPATION
	  	 	26	 
			
	 Section 2.01
	 	 Active Participant
	  	 	26	 
	 Section 2.02
	 	 Inactive Participant
	  	 	27	 
	 Section 2.03
	 	 Cessation of Participation
	  	 	27	 
	 Section 2.04
	 	 Adopting Employers - Separate Plans
	  	 	27	 
	 Section 2.05
	 	 Adopting Employers - Single Plan
	  	 	27	 
	 Section 2.06
	 	 Adopting Employers - Multiple Employer Plan
	  	 	28	 
			
	 ARTICLE III
	 	 CONTRIBUTIONS
	  	 	29	 
			
	 Section 3.01
	 	 Employer Contributions
	  	 	29	 
	 Section 3.02
	 	 Voluntary Contributions by Participants
	  	 	32	 
	 Section 3.03
	 	 Rollover Contributions
	  	 	33	 
	 Section 3.04
	 	 In-plan Roth Rollovers
	  	 	35	 
	 Section 3.05
	 	 Forfeitures
	  	 	35	 
	 Section 3.06
	 	 Allocation
	  	 	36	 
	 Section 3.07
	 	 Contribution Limitation
	  	 	37	 
	 Section 3.08
	 	 Excess Amounts
	  	 	40	 
	 Section 3.09
	 	 401(k) Safe Harbor Provisions
	  	 	50	 
	 Section 3.10
	 	 Eligible Automatic Contribution Arrangement (EACA) Provisions
	  	 	50	 
	 Section 3.11
	 	 Qualified Automatic Contribution Arrangement (QACA) Safe Harbor Provisions
	  	 	50	 
			
	 ARTICLE IV
	 	 INVESTMENT OF CONTRIBUTIONS
	  	 	51	 
			
	 Section 4.01
	 	 Investment and Timing of Contributions
	  	 	51	 
	 Section 4.02
	 	 Investment in Qualifying Employer Securities
	  	 	52	 
	 Section 4.03
	 	 Voting and Tender of Self-Directed Brokerage Accounts
	  	 	55	 
	 Section 4.04
	 	 Life Insurance
	  	 	55	 
			
	 ARTICLE V
	 	 BENEFITS
	  	 	56	 
			
	 Section 5.01
	 	 Retirement Benefits
	  	 	56	 
	 Section 5.02
	 	 Death Benefits
	  	 	56	 
	 Section 5.03
	 	 Vested Benefits
	  	 	56	 
	 Section 5.04
	 	 When Benefits Start
	  	 	56	 
	 Section 5.05
	 	 Withdrawal Benefits
	  	 	58	 
	 Section 5.06
	 	 Loans to Participants
	  	 	59	 
	 Section 5.07
	 	 Distributions Under Qualified Domestic Relations Orders
	  	 	62	 

  

					
	Amend No. 4 Effective December 31, 2018	  	2	  	Plan ID No. 993915 (7-7695)

					
	 ARTICLE VI
	 	 DISTRIBUTION OF BENEFITS
	  	64
			
	 Section 6.01
	 	 Automatic Forms of Distribution
	  	64
	 Section 6.02
	 	 Optional Forms of Distribution
	  	64
	 Section 6.03
	 	 Election Procedures
	  	64
	 Section 6.04
	 	 Notice Requirements
	  	66
			
	 ARTICLE VII
	 	 REQUIRED MINIMUM DISTRIBUTIONS
	  	67
			
	 Section 7.01
	 	 Application
	  	67
	 Section 7.02
	 	 Definitions
	  	67
	 Section 7.03
	 	 Required Minimum Distributions
	  	68
	 Section 7.04
	 	 TEFRA Section 242(b)(2) Elections
	  	72
			
	 ARTICLE VIII
	 	 TERMINATION OF THE PLAN
	  	73
			
	 ARTICLE IX
	 	 ADMINISTRATION OF THE PLAN
	  	74
			
	 Section 9.01
	 	 Administration
	  	74
	 Section 9.02
	 	 Expenses
	  	74
	 Section 9.03
	 	 Records
	  	75
	 Section 9.04
	 	 Information Available
	  	75
	 Section 9.05
	 	 Claim Procedures
	  	75
	 Section 9.06
	 	 Delegation of Authority
	  	76
	 Section 9.07
	 	 Exercise of Discretionary Authority
	  	77
	 Section 9.08
	 	 Transaction Processing
	  	77
			
	 ARTICLE X
	 	 GENERAL PROVISIONS
	  	78
			
	 Section 10.01
	 	 Amendments
	  	78
	 Section 10.02
	 	 Direct Rollovers
	  	80
	 Section 10.03
	 	 Mergers and Direct Transfers
	  	80
	 Section 10.04
	 	 Provisions Relating to the Insurer and Other Parties
	  	82
	 Section 10.05
	 	 Employment Status
	  	82
	 Section 10.06
	 	 Rights to Plan Assets
	  	82
	 Section 10.07
	 	 Beneficiary
	  	82
	 Section 10.08
	 	 Nonalienation of Benefits
	  	83
	 Section 10.09
	 	 Construction
	  	83
	 Section 10.10
	 	 Legal Actions
	  	83
	 Section 10.11
	 	 Small Amounts
	  	84
	 Section 10.12
	 	 Word Usage
	  	84
	 Section 10.13
	 	 Change in Service Method
	  	84
	 Section 10.14
	 	 Military Service
	  	86
	 Section 10.15
	 	 Qualification of Plan
	  	86
			
	 ARTICLE XI
	 	 TOP-HEAVY PLAN REQUIREMENTS
	  	87
			
	 Section 11.01
	 	 Application
	  	87
	 Section 11.02
	 	 Definitions
	  	87
	 Section 11.03
	 	 Modification of Vesting Requirements
	  	89
	 Section 11.04
	 	 Modification of Contributions
	  	90
			
	 ARTICLE XII
	 	 TRUST PROVISIONS
	  	92
			
	 PLAN EXECUTION
	 		  	

  

					
	Amend No. 4 Effective December 31, 2018	 	3	 	Plan ID No. 993915 (7-7695)

 INTRODUCTION 

The Primary Employer previously established a retirement plan on October 1, 1991. 

The Plan is amended with this Amendment Number 4, effective December 31, 2018. This amended document is substituted in lieu of the prior document with
the exception of any interim amendment and any model amendment that have not been incorporated into this amendment. Such amendment(s) shall continue to apply to this Plan until such provisions are integrated into the Plan or such amendment(s) are
superseded by another amendment. 
 It is intended that the Plan, as amended, qualify as a profit sharing plan under the Internal Revenue Code of 1986,
including any later amendments to the Code. The Employer agrees to operate the Plan according to the terms, provisions, and conditions set forth in this document. 

The amended Plan continues to be for the exclusive benefit of employees of the Employer. All persons covered under the Plan before the effective date of this
amendment shall continue to be covered under the amended Plan, if they are still Eligible Employees as of the amendment date, with no loss of benefits. 

The Popular Financial Holdings, Inc. Savings & Retirement Plan was merged into this Plan as of April 1, 2006. 

The Banco Popular de Puerto Rico Profit Sharing Plan was merged into this Plan as of April 1, 2006. 

Any participant under the above referenced plan(s) who is an Eligible Employee as defined in the DEFINITIONS SECTION of Article I shall continue to be a
Participant in this Plan. His entry date under the prior plan shall be deemed to be his Entry Date under this Plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	4	 	Plan ID No. 993915 (7-7695)

 ARTICLE I 

FORMAT AND DEFINITIONS 
 SECTION
1.01—FORMAT. 
 The Employer’s retirement plan is set out in this signed document, and any amendments to this document. 

Words and phrases defined in the DEFINITIONS SECTION of Article I shall have that defined meaning when used in this Plan, unless the context clearly indicates
otherwise. These words and phrases have initial capital letters to aid in identifying them as defined terms. 
 Some of the defined terms and phrases in the
DEFINITIONS SECTION of Article I and some of the provisions contained in the following articles may not apply to this Plan and shall not be used in the Plan. The provisions in Articles II through XII of the Plan shall determine whether or not the
terms will apply. 
 SECTION 1.02—DEFINITIONS. 

Account means the Participant’s share of the Plan Fund. Separate accounting records are kept for those parts of his Account resulting from the
following contributions that are made to the plan as stated in Article III: 
  

	(a)	 Nondeductible Voluntary Contributions 

 

	(b)	 Deductible Voluntary Contributions 

 

	(c)	 Pre-tax Elective Deferral Contributions 

 

	(d)	 Roth Elective Deferral Contributions 

 

	(e)	 In-plan Roth Rollovers 

 

	(f)	 Matching Contributions that are not Qualified Matching Contributions or QACA Matching Contributions

  

	(g)	 Qualified Matching Contributions 

 

	(h)	 QACA Matching Contributions 

 

	(i)	 Qualified Nonelective Contributions 

 

	(j)	 QACA Nonelective Contributions 

 

	(k)	 Wage Rate Contributions 

 

	(l)	 All other Employer Contributions 

 

	(m)	 Rollover Contributions 

  

					
	Amend No. 4 Effective December 31, 2018	 	5	 	Plan ID No. 993915 (7-7695)

 If the Participant’s Vesting Percentage is less than 100% as to any of the Employer Contributions, a
separate accounting record will be kept for any part of his Account resulting from such Employer Contributions and, if there has been a prior Forfeiture Date, from such Contributions made before a prior Forfeiture Date. 

A Participant’s Account shall be reduced by any distribution of his Vested Account and by any Forfeitures. A Participant’s Account shall participate
in the earnings credited, expenses charged, and any appreciation or depreciation of the Investment Fund. His Account is subject to any minimum guarantees applicable under the Annuity Contract or other investment arrangement and to any expenses
associated therewith. 
 Accrual Computation Period means the 12-month period used to measure hours for
purposes of receiving an Employer Contribution or allocation. 
 Accrual Service means the period of service used to determine the number of units
credited to a Participant for purposes of determining the amount of his Discretionary Contribution. 
 ACP Test means the nondiscrimination test
described in Code Section 401(m)(2) as provided for in subparagraph (d) of the EXCESS AMOUNTS SECTION of Article III. 
 ACP Test Safe Harbor
means the method described in the 401(k) SAFE HARBOR PROVISIONS SECTION or the QUALIFIED AUTOMATIC CONTRIBUTION ARRANGEMENT (QACA) SAFE HARBOR PROVISIONS SECTION of Article III for satisfying the ACP Test with respect to Matching Contributions.

 Active Participant means an Eligible Employee who is actively participating in the Plan according to the provisions in the ACTIVE PARTICIPANT
SECTION of Article II. 
 Additional Contributions means additional Employer Contributions (see the EMPLOYER CONTRIBUTIONS SECTION of Article III),
or the Forfeitures that are reallocated according to the ALLOCATION SECTION of Article III and are deemed to be Additional Contributions. 
 Adopting
Employer means an employer who has adopted this Plan and who is not the Primary Employer. 
 An Adopting Employer is an employer that is a Controlled
Group member and is listed in the ADOPTING EMPLOYERS - SINGLE PLAN SECTION of Article II. 
 ADP Test means the nondiscrimination test described in
Code Section 401(k)(3) as provided for in subparagraph (c) of the EXCESS AMOUNTS SECTION of Article III. 
 ADP Test Safe Harbor means the
method described in the 401(k) SAFE HARBOR PROVISIONS SECTION or the QUALIFIED AUTOMATIC CONTRIBUTION ARRANGEMENT (QACA) SAFE HARBOR PROVISIONS SECTION of Article III for satisfying the ADP Test. 

Affiliated Service Group means any group of corporations, partnerships or other organizations of which the Employer is a part and that is affiliated
within the meaning of Code Section 414(m) and the regulations thereunder. The term Controlled Group, as it is used in this Plan, shall include the term Affiliated Service Group. 

Allocation Group means the designated groups of Employees for purposes of determining separate Discretionary Contributions in the EMPLOYER
CONTRIBUTIONS SECTION of Article III. 

  

					
	Amend No. 4 Effective December 31, 2018	 	6	 	Plan ID No. 993915 (7-7695)

 Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is
recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under the Plan with respect to such Participant. 

Annual Compensation means the Employee’s Compensation for a defined 12-month period of time. 

For a Plan Year, Annual Compensation is the Employee’s Compensation for the Compensation Year ending with or within the consecutive 12-month period ending on the last day of the Plan Year. Annual Compensation shall exclude Compensation for the portion of the Compensation Year in which an Employee is not an Active Participant. For purposes of
determining Discretionary Contributions, Annual Compensation over $70,000 shall be disregarded. 
 Annuity Contract means the annuity contract or
contracts into which the Primary Employer, and the Adopting Employers adopting this Plan as a separate plan enter, or Trustee enters, whichever is appropriate, with the Insurer for guaranteed benefits, for the investment of Contributions in separate
accounts, and for the payment of benefits under this Plan. 
 Annuity Starting Date means the first day of the first period for which an amount is
payable as an annuity or any other form. 
 Appendix A means the appendix identified as Appendix A which may be attached to and made a part of this
Plan: 
 Beneficiary means the person or persons named by a Participant to receive any benefits under the Plan when the Participant dies. See the
BENEFICIARY SECTION of Article X. 
 Benefit Factor means, for a Plan Year, a person’s Annual Compensation for the Plan Year multiplied by his
actuarial factor for the Plan Year determined in Appendix A. 
 Catch-up Contributions means Elective
Deferral Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age 50 or older by the end of their taxable year. An otherwise applicable Plan limit is a limit in the Plan
that applies to Elective Deferral Contributions without regard to Catch-up Contributions, such as the limits on the Maximum Annual Additions, as defined in the CONTRIBUTION LIMITATION SECTION of Article III,
the dollar limitation on Elective Deferral Contributions under Code Section 402(g) (not counting Catch-up Contributions), and the limit imposed by the ADP Test. 

Catch-up Contributions are not subject to the limits on the Maximum Annual Additions, as defined in the CONTRIBUTION
LIMITATION SECTION of Article III, are not counted in the ADP Test, and are not counted in determining the minimum allocation under Code Section 416 (but Catch-up Contributions made in prior years are
counted in determining whether the Plan is top-heavy). 
 Claimant means any person who makes a claim for
benefits under this Plan. See the CLAIM PROCEDURES SECTION of Article IX. 
 Code means the Internal Revenue Code of 1986, as amended. 

Compensation means, except for purposes of the CONTRIBUTION LIMITATION SECTION of Article III and Article XI, the total earnings, except as modified in
this definition, from the Employer during any specified period. Earnings from a Predecessor Employer that did not maintain this Plan shall be counted only if 

  

					
	Amend No. 4 Effective December 31, 2018	 	7	 	Plan ID No. 993915 (7-7695)

 
service continued with the Employer without interruption. The crediting of such compensation shall be determined on a reasonably uniform basis for all similarly situated Employees based on all
relevant facts and circumstances so as not to discriminate in favor of Highly Compensated Employees. 
 “Earnings” in this definition means wages
within the meaning of Code Section 3401(a) for the purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or
the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)). 
 For any Self-employed Individual, Compensation
means Earned Income. 
 Except as provided herein, Compensation for a specified period is the Compensation actually paid or made available (or if earlier,
includible in gross income) during such period. 
 For Plan Years beginning on or after July 1, 2007, Compensation for a Plan Year shall also include
Compensation paid by the later of 2 1/2 months after an Employee’s Severance from Employment with the Employer maintaining the Plan or the end of the Plan Year that includes the date of the Employee’s Severance from Employment with the
Employer maintaining the Plan, if the payment is regular Compensation for services during the Employee’s regular working hours, or Compensation for services outside the Employee’s regular working hours (such as overtime or shift
differential), commissions, bonuses, or other similar payments, and, absent a Severance from Employment, the payments would have been paid to the Employee while the Employee continued in employment with the Employer. 

Any payments not described above shall not be considered Compensation if paid after Severance from Employment, even if they are paid by the later of 2 1/2
months after the date of Severance from Employment or the end of the Plan Year that includes the date of Severance from Employment. 
 Back pay, within the
meaning of section 1.415(c)-2(g)(8) of the regulations, shall be treated as Compensation for the Plan Year to which the back pay relates to the extent the back pay represents wages and compensation that would
otherwise be included in this definition. 
 Compensation paid or made available during a specified period shall include amounts that would otherwise be
included in Compensation but for an election under Code Section 125(a), 132(1)(4), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b). 
 Compensation shall
exclude reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation (other than elective contributions), and welfare benefits. 

Compensation shall exclude the following: 
 long
term incentive pay; recognition awards, in general; retention bonuses 
 For purposes of the EXCESS AMOUNTS SECTION of Article III, the Employer may elect
to use an alternative nondiscriminatory definition of Compensation in accordance with the regulations under Code Section 414(s). 
 The annual
Compensation of each Participant taken into account in determining contributions and allocations for any determination period (the period over which Compensation is determined) shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with Code Section 401(a)(17)(B). The cost-of-living
adjustment in effect for a calendar year applies to any determination period beginning with or within such calendar year. 

  

					
	Amend No. 4 Effective December 31, 2018	 	8	 	Plan ID No. 993915 (7-7695)

 If a determination period consists of fewer than 12 months, the annual compensation limit is an amount equal
to the otherwise applicable annual compensation limit multiplied by a fraction. The numerator of the fraction is the number of months in the short determination period, and the denominator of the fraction is 12. 

If Compensation for any prior determination period is taken into account in determining a Participant’s contributions or allocations for the current Plan
Year, the Compensation for such prior determination period is subject to the applicable annual compensation limit in effect for that determination period. For this purpose, in determining contributions and allocations in Plan Years beginning on or
after January 1, 2002, the annual compensation limit in effect for determination periods beginning before that date is $200,000. 
 Compensation means,
for a Leased Employee, Compensation for the services the Leased Employee performs for the Employer, determined in the same manner as the Compensation of Employees who are not Leased Employees, regardless of whether such Compensation is received
directly from the Employer or from the leasing organization. 
 Compensation Year means a defined 12-month
period used to determine Annual Compensation. 
 The Compensation Year is the consecutive 12-month period ending on
the last day of each Plan Year, including corresponding periods before the effective date of the Plan. 
 Contingent Annuitant means an individual
named by the Participant to receive a lifetime benefit after the Participant’s death in accordance with a survivorship life annuity. 
 Contribution
Date means the date on which Wage Rate Contributions are calculated. 
 Contributions means Employer Contributions, Participant Contributions,
and Rollover Contributions as set out in Article III, unless the context clearly indicates only specific contributions are meant. 
 Controlled Group
means any group of corporations, trades, or businesses of which the Employer is a part that is under common control. A Controlled Group includes any group of corporations, trades, or businesses, whether or not incorporated, which is either a
parent-subsidiary group, a brother-sister group, or a combined group within the meaning of Code Section 414(b), Code Section 414(c) and the regulations thereunder and, for purposes of determining contribution limitations under the
CONTRIBUTION LIMITATION SECTION of Article III, as modified by Code Section 415(h). The term Controlled Group, as it is used in this Plan, shall include the term Affiliated Service Group and any other employer required to be aggregated with the
Employer under Code Section 414(0) and the regulations thereunder. 
 Designated Beneficiary means the individual who is designated by the
Participant (or the Participant’s surviving spouse) as the Beneficiary of the Participant’s interest under the Plan and who is the designated beneficiary under Code Section 401(a)(9) and section
1.401(a)(9)-4 of the regulations. 
 Designated Roth Account means the portion of a Participant’s
Account resulting from Roth Elective Deferral Contributions, In-plan Roth Rollovers, and the portion of a Rollover Contribution from a designated Roth account under another plan, and the respective earnings
thereon. The Designated Roth Account shall be record kept in a manner that satisfies the separate accounting requirements of section 1.401(k)-1(f) of the regulations. 

  

					
	Amend No. 4 Effective December 31, 2018	 	9	 	Plan ID No. 993915 (7-7695)

 Differential Wage Payments means any payments that are made on or after January 1, 2009, by an
Employer to an individual with respect to any period during which the individual is performing Qualified Military Service while on active duty for a period of more than 30 days. Such payments shall be made in accordance with Code
Section 3401(h) and represent all or a portion of the wages the individual would have received from the Employer if the individual were performing service for the Employer. 

Direct Rollover means a payment by the Plan to the Eligible Retirement Plan specified by the Distributee. 

Discretionary Contributions means discretionary Employer Contributions. See the EMPLOYER CONTRIBUTIONS SECTION of Article III.

 Distributee means an Employee or former Employee. In addition, the Employee’s (or former Employee’s) surviving spouse and the
Employee’s (or former Employee’s) spouse or former spouse who is the Alternate Payee under a qualified domestic relations order, as defined in Code Section 414(p), are Distributees with regard to the interest of the spouse or former
spouse. For distributions made after December 31, 2006, a Distributee includes the Employee’s (or former Employee’s) nonspouse Designated Beneficiary, in which case, the distribution can only be transferred to a traditional IRA or
Roth IRA established on behalf of the nonspouse Designated Beneficiary for the purpose of receiving the distribution. 
 Early Retirement Age means
an age prior to the Participant’s Normal Retirement Age. The Participant’s Account shall become nonforfeitable if he is an Employee upon attainment of such age. 

Early Retirement Age means age 55. 
 Early Retirement Date
means a date before a Participant’s Normal Retirement Date that he selects for the start of his retirement benefits. 
 Early Retirement Date means
any day before a Participant’s Normal Retirement Date that he selects for receiving a distribution of his Vested Account as an early retirement benefit. This day shall be on or after the date he has a Severance from Employment and reaches Early
Retirement Age. If a Participant has a Severance from Employment before satisfying any age requirement for Early Retirement Age, but after satisfying any other requirements, the Participant shall be entitled to elect an early retirement benefit upon
satisfying such age requirement. 
 Earned Income means, for a Self-employed Individual, net earnings from self-employment in the trade or business
for which this Plan is established if such Self-employed Individual’s personal services are a material income producing factor for that trade or business. Net earnings shall be determined without regard to items not included in gross income and
the deductions properly allocable to or chargeable against such items. Net earnings shall be reduced for the employer contributions to the employer’s qualified retirement plan(s) to the extent deductible under Code Section 404. 

Net earnings shall be determined with regard to the deduction allowed to the employer by Code Section 164(1) for taxable years beginning after
December 31, 1989. 
 Elective Deferral Agreement means an agreement between an Eligible Employee and the Employer under which an Eligible
Employee may make Elective Deferral Contributions. An Elective Deferral Agreement (or change thereto) must be made in such manner and in accordance with such rules as the Employer may prescribe in a nondiscriminatory manner (including by means of
voice response or other electronic system under circumstances the Employer permits). Elective Deferral Agreements cannot relate to Compensation that is payable prior to the later of the adoption or effective date of the cash or deferred arrangement

  

					
	Amend No. 4 Effective December 31, 2018	 	10	 	Plan ID No. 993915 (7-7695)

 
(CODA). Elective Deferral Agreements shall be made, changed, or terminated according to the provisions of the EMPLOYER CONTRIBUTIONS SECTION of Article III. An Elective Deferral Agreement may
also be terminated according to the terms of an automatic contribution arrangement. 
 Elective Deferral Contributions means Employer Contributions
made in accordance with either an Elective Deferral Agreement or the terms of an automatic contribution arrangement. 
 Elective Deferral Contributions
means Pre-tax Elective Deferral Contributions and Roth Elective Deferral Contributions, unless the context clearly indicates only one is meant. 

Elective Deferral Contributions shall be 100% vested and subject to the distribution restrictions of Code Section 401(k) when made. See the WHEN BENEFITS
START SECTION of Article V. 
 Eligibility Computation Period means a consecutive 12-month period. 

The first Eligibility Computation Period begins on an Employee’s Employment Commencement Date. Later Eligibility Computation Periods shall be consecutive
12-month periods ending on the last day of each Plan Year that begins after his Employment Commencement Date. 
 For
an Employee who has a Severance from Employment prior to satisfying the eligibility requirements in the ACTIVE PARTICIPANT SECTION of Article II, the Eligibility Computation Period will be determined based on his original Employment Commencement
Date. If such Employee is rehired after the first anniversary of his original Employment Commencement Date, his Eligibility Computation Period shall be the Plan Year, beginning with the Plan Year that contains the date he is rehired. 

Eligibility Service means the period of service used to determine if an Employee has met any service requirement for eligibility described in the
ACTIVE PARTICIPANT SECTION of Article II. 
 Eligibility Service is an Employee’s Period of Service. Eligibility Service shall be measured from his
Employment Commencement Date to his most recent Severance Date. This Period of Service shall be reduced by any Period of Severance that occurred prior to his most recent Severance Date, unless such Period of Severance is included under the service
spanning rule below. This period of Eligibility Service shall be expressed as years (on the basis that 365 days equal one year), months (on the basis that 30 days equal one month), or days. 

Period of Severance included (service spanning rule): 

A Period of Severance shall be deemed to be a Period of Service under either of the following conditions: 

 

	 	(a)	 the Period of Severance immediately follows a period during which an Employee is not absent from work and ends
within 12 months; or 

  

	 	(b)	 the Period of Severance immediately follows a period during which an Employee is absent from work for any
reason other than quitting, being discharged, or retiring (such as a leave of absence or layoff) and ends within 12 months of the date he was first absent. 

Period of Military Duty included: 
 A Period of
Military Duty shall be included as service with the Employer to the extent it has not already been credited. 

  

					
	Amend No. 4 Effective December 31, 2018	 	11	 	Plan ID No. 993915 (7-7695)

 Controlled Group service included: 

An Employee’s service with a member firm of a Controlled Group while both that firm and the Employer were members of the Controlled Group
shall be included as service with the Employer. 
 However, Eligibility Service is modified as follows: 

Service with a Predecessor Employer that did not maintain this Plan included: 

An Employee’s service with a Predecessor Employer that did not maintain this Plan shall be included as service with the Employer. The
crediting of such service shall be determined on a reasonably uniform basis for all similarly situated Employees based on all relevant facts and circumstances so as not to discriminate in favor of Highly Compensated Employees. An Employee’s
service with such Predecessor Employer shall be counted only if service continued with the Employer without interruption. 
 Eligible Employee means
any United States (excluding Puerto Rico) Employee and any United States Virgin Island Employee of the Employer for purposes of Contributions other than Voluntary Contributions, and any British Virgin Island Employee of the Employer for purposes of
Contributions other than Elective Deferral Contributions, excluding the following: 
 Bargaining class. Represented for collective bargaining
purposes by any collective bargaining agreement between the Employer and employee representatives, if retirement benefits were the subject of good faith bargaining and if two percent or less of the Employees who are covered pursuant to that
agreement are professionals as defined in section 1.410(b)-9 of the regulations. For this purpose, the term “employee representatives” does not include any organization more than half of whose
members are Employees who are owners, officers, or executives of the Employer. 
 Other than a British Virgin Island Employee of the
Employer, a nonresident alien, within the meaning of Code Section 7701(b)(1)(B), who receives no earned income, within the meaning of Code Section 911(d)(2), from the Employer that constitutes income from sources within the United States,
within the meaning of Code Section 861(a)(3), or who receives such earned income but it is all exempt from income tax in the United States under the terms of an income tax convention. 

Leased Employee. 
 An individual
considered by the Employer to be an independent contractor who is later determined by the Internal Revenue Service to be an Employee. 

Part-time, temporary, or seasonal Employee. A part-time, temporary, or seasonal Employee is an Employee who is regularly scheduled to work less
than 1,000 Hours of Service in an Eligibility Computation Period. In the event such an Employee works at least 1,000 Hours of Service during an Eligibility Computation Period or his employment status changes to full-time, he shall become an Eligible
Employee, unless he is otherwise excluded in this definition. 
 However, to the extent an Employee becomes an Employee as a result of a Code
Section 410(b)(6)(C) transaction, that Employee shall not be an Eligible Employee during the period beginning on the date of the 

  

					
	Amend No. 4 Effective December 31, 2018	 	12	 	Plan ID No. 993915 (7-7695)

 
transaction and ending on the last day of the first Plan Year beginning after the date of the transaction. This period is called the transition period. The transition period may end earlier if
there is a significant change in the coverage under the Plan or if the Employer chooses to cover all similarly situated Employees as of an earlier date. A Code Section 410(b)(6)(C) transaction is an asset or stock acquisition, merger, or
similar transaction involving a change in the employer of the employees of a trade or business. 
 Eligible Retirement Plan means an eligible plan
under Code Section 457(b) 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, a traditional IRA, a Roth IRA for distributions after December 31, 2007, an annuity plan described in Code Section 403(a), an annuity contract described in Code Section 403(b), or a qualified plan described in
Code Section 401(a), that accepts the Distributee’s Eligible Rollover Distribution. The 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 relations order, as defined in Code Section 414(p). 
 If any portion of an Eligible Rollover Distribution
is attributable to payments or distributions from a Designated Roth Account, an Eligible Retirement Plan with respect to such portion shall include only (i) another designated Roth account of the individual from whose Account the payments or
distributions were made or (ii) a Roth IRA of such individual. 
 Eligible Rollover Distribution means any distribution of all or any portion of the
balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: (i) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the
life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee’s Designated Beneficiary, or for a specified period of ten years or more; (ii) any distribution to the
extent such distribution is required under Code Section 401(a)(9); (iii) any hardship distribution; (iv) any Permissible Withdrawal; and (v) any other distribution(s) that is reasonably expected to total less than $200 during a year.
For purposes of the $200 rule, a distribution from a Designated Roth Account and a distribution from other accounts under the Plan shall be treated as made under separate plans. 

Any portion of a distribution that consists of after-tax employee contributions that are not includible in gross
income may be transferred only to (i) a traditional individual retirement account or annuity described in Code Section 408(a) or (b) (a “traditional IRA”); (ii) a Roth individual retirement account or annuity described in Code
Section 408A (a “Roth IRA”) for distributions after December 31, 2007; or (iii) a qualified plan or an annuity contract described in Code Section 401(a) and 403(b), respectively, that agrees to separately account for
amounts so transferred (and earnings thereon), 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. 

Employee means an individual who is employed by the Employer or any other employer required to be aggregated with the Employer under Code Sections
414(b), (c), (m), or (o). A Controlled Group member is required to be aggregated with the Employer. 
 Beginning January 1, 2009, the term Employee
shall include any individual receiving Differential Wage Payments. 
 The term Employee shall include any Self-employed Individual treated as an employee of
any employer described in the preceding paragraphs as provided in Code Section 401(c)(1). The term Employee shall also include any Leased Employee deemed to be an employee of any employer described in the preceding paragraphs as provided in
Code Section 414(n) or (o). 

  

					
	Amend No. 4 Effective December 31, 2018	 	13	 	Plan ID No. 993915 (7-7695)

 An independent contractor is not an Employee. If the Internal Revenue Service determines that an individual
who the Employer considered to be an independent contractor is an Employee, such individual shall be an Employee as of the reclassification date. 

Employer means, except for purposes of the CONTRIBUTION LIMITATION SECTION of Article III, the Primary Employer or an Adopting Employer who has adopted
this Plan as a separate plan. This will also include any successor corporation, trade or business which will, by written agreement, assume the obligations of this Plan or any Predecessor Employer that maintained this Plan. 

Employer Contributions means Elective Deferral Contributions, Matching Contributions, Qualified Nonelective Contributions, QACA Nonelective
Contributions, Additional Contributions, Wage Rate Contributions, and Discretionary Contributions as set out in Article III and contributions made by the Employer in accordance with the provisions of the MODIFICATION OF CONTRIBUTIONS SECTION of
Article XI, unless the context clearly indicates only specific contributions are meant. 
 Employer Group means each separate group of entities which
consist of the Primary Employer and all Adopting Employers that are members of the same Controlled Group as the Primary Employer or consist of an Adopting Employer that is not a member of the same Controlled Group as the Primary Employer and all
other Adopting Employers who are members of the same Controlled Group as such Adopting Employer. If more than one Employer Group adopts this Plan, the Plan shall be a multiple employer plan as described in Code Section 413(c). 

Employment Commencement Date means the date an Employee first performs an Hour of Service. 

Entry Date means the date an Employee first enters the Plan as an Active Participant. See the ACTIVE PARTICIPANT SECTION of Article II. 

ERISA means the Employee Retirement Income Security Act of 1974, as amended. 

Fiscal Year means the Primary Employer’s taxable year. The last day of the Fiscal Year is December 31. 

Forfeiture means the part, if any, of a Participant’s Account that is forfeited. See the FORFEITURES SECTION of Article III. 

Forfeiture Date means the date on which a Forfeiture occurs. 

Forfeiture Date is the last day of five consecutive one-year Periods of Severance. 

Highly Compensated Employee means any Employee who: 
  

	(a)	 was a 5-percent owner at any time during the year or the preceding
year, or 

  

	(b)	 for the preceding year had compensation from the Employer in excess of $80,000. The $80,000 amount is adjusted
at the same time and in the same manner as under Code Section 415(d), except that the base period is the calendar quarter ending September 30, 1996. 

For this purpose the applicable year of the plan for which a determination is being made is called a determination year and the preceding 12-month period is called a look-back year. 

  

					
	Amend No. 4 Effective December 31, 2018	 	14	 	Plan ID No. 993915 (7-7695)

 The determination of who is a highly compensated former Employee is based on the rules applicable to
determining Highly Compensated Employee status as in effect for that determination year, in accordance with section 1.414(q)-1T, A-4 of the temporary Income Tax
Regulations and Internal Revenue Service Notice 97-45. 
 The determination of who is a Highly Compensated Employee,
including the compensation that is considered and the identity of the 5-percent owners, shall be made in accordance with Code Section 414(q) and the regulations thereunder. 

For purposes of this definition, the above references to compensation shall mean Compensation as defined in the CONTRIBUTION LIMITATION SECTION of Article
III. 
 Hour of Service means, for the elapsed time method of crediting service in this Plan, each hour for which an Employee is paid, or entitled to
payment, for performing duties for the Employer. Hour of Service means, for the hours method of crediting service in this Plan, the following: 
  

	(a)	 Each hour for which an Employee is paid, or entitled to payment, for performing duties for the Employer during
the applicable computation period. 

  

	(b)	 Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time
in which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty or leave of absence. Notwithstanding the
preceding provisions of this subparagraph (b), no credit will be given to the Employee: 

  

	 	(1)	 for more than 501 Hours of Service under this subparagraph (b) on account of any single continuous period
in which the Employee performs no duties (whether or not such period occurs in a single computation period); or 

  

	 	(2)	 for an Hour of Service for which the Employee is directly or indirectly paid, or entitled to payment, on
account of a period in which no duties are performed if such payment is made or due under a plan maintained solely for the purpose of complying with applicable worker’s or workmen’s compensation, or unemployment compensation, or disability
insurance laws; or 

  

	 	(3)	 for an Hour of Service for a payment which solely reimburses the Employee for medical or medically related
expenses incurred by him. 

 For purposes of this subparagraph (b), a payment shall be deemed to be made by, or due from
the Employer, regardless of whether such payment is made by, or due from the Employer, directly or indirectly through, among others, a trust fund or insurer, to which the Employer contributes or pays premiums and regardless of whether contributions
made or due to the trust fund, insurer or other entity are for the benefit of particular employees or are on behalf of a group of employees in the aggregate. 
  

	(c)	 Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the
Employer. The same Hours of Service shall not be credited both under subparagraph (a) or subparagraph (b) above (as the case may be) and under this subparagraph (c). Crediting of Hours of Service for back pay awarded or agreed to with
respect to periods described in subparagraph (b) above will be subject to the limitations set forth in that subparagraph. 

  

					
	Amend No. 4 Effective December 31, 2018	 	15	 	Plan ID No. 993915 (7-7695)

 The crediting of Hours of SeNice above shall be applied under the rules of paragraphs (b) and (c) of
the Department of Labor Regulation 2530.200b-2 (including any interpretations or opinions implementing such rules); which rules, by this reference, are specifically incorporated in full within this Plan. The
reference to paragraph (b) applies to the special rule for determining Hours of SeNice for reasons other than the performance of duties such as payments calculated (or not calculated) on the basis of units of time and the rule against double
credit. The reference to paragraph (c) applies to the crediting of Hours of SeNice to computation periods. 
 Hours of SeNice shall be credited for
employment with any other employer required to be aggregated with the Employer under Code Sections 414(b), (c), (m), or (o) and the regulations thereunder for purposes of eligibility and vesting. Hours of SeNice shall also be credited for any
individual who is considered an employee for purposes of this Plan pursuant to Code Section 414(n) or (o) and the regulations thereunder. 

Solely for purposes of determining whether a one-year break in seNice has occurred for vesting purposes, during a
Parental Absence an Employee shall be credited with the Hours of SeNice which would otherwise have been credited to the Employee but for such absence, or in any case in which such hours cannot be determined, eight Hours of SeNice per day of such
absence. The Hours of SeNice credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a break in seNice in that period; or in all other cases, in the following
computation period. 
 Inactive Participant means a former Active Participant who has an Account. See the INACTIVE PARTICIPANT SECTION of Article II.

 In-plan Roth Rollover means the irrevocable rollover of all or any portion of a Participant’s Vested
Account (other than a Designated Roth Account) to a Designated Roth Account under the Plan. The rollover shall be subject to the provisions of the IN-PLAN ROTH ROLLOVERS SECTION of Article III, and made in
accordance with Code Section 402A(c)(4) and any subsequent guidance. 
 Insurance Policy means the life insurance policy or policies issued to
the Trustee by the Insurer as provided in Article IV. 
 Insurer means Principal Life Insurance Company or the insurance company or companies named
by (i) the Primary Employer or (ii) the Trustee in its discretion or as directed under the Trust Agreement. 
 Integration Level
means the point in an integrated allocation formula at which the percentage of Compensation used to determine the allocation of the Discretionary Contribution increases. 

Investment Fund means the total of Plan assets, excluding the cash value of any Insurance Policy and the guaranteed benefit policy portion of any
Annuity Contract. All or a portion of these assets may be held under, or invested pursuant to, the terms of a Trust Agreement. 
 The Investment Fund shall
be valued at current fair market value as of the Valuation Date. The valuation shall take into consideration investment earnings credited, expenses charged, payments made, and changes in the values of the assets held in the Investment Fund. 

The Investment Fund shall be allocated at all times to Participants, except as otherwise expressly provided in the Plan. The Account of a Participant shall be
credited with its share of the gains and losses of the Investment Fund. The part of a Participant’s Account invested in a funding arrangement that establishes one or more accounts or investment vehicles for such Participant thereunder shall be
credited with the gain or 

  

					
	Amend No. 4 Effective December 31, 2018	 	16	 	Plan ID No. 993915 (7-7695)

 
loss from such accounts or investment vehicles. The part of a Participant’s Account invested in other funding arrangements shall be credited with a proportionate share of the gain or loss of
such investments. The share shall be determined by multiplying the gain or loss of the investment by the ratio of the part of the Participant’s Account invested in such funding arrangement to the total of the Investment Fund invested in such
funding arrangement. 
 Investment Manager means any fiduciary (other than a Trustee or Named Fiduciary) 

 

	(a)	 who has the power to manage, acquire, or dispose of any assets of the Plan; 

 

	(b)	 who (i) is registered as an investment adviser under the Investment Advisers Act of 1940; (ii) is not
registered as an investment adviser under such Act by reason of paragraph (1) of section 203A(a) of such Act, is registered as an investment adviser under the laws of the state (referred to in such paragraph (1)) in which it maintains its
principal office and place of business, and, at the time it last filed the registration form most recently filed by it with such state in order to maintain its registration under the laws of such state, also filed a copy of such form with the
Secretary of Labor; (iii) is a bank, as defined in that Act; or (iv) is an insurance company qualified to perform services described in subparagraph (a) above under the laws of more than one state; and 

 

	(c)	 who has acknowledged in writing being a fiduciary with respect to the Plan. 

Late Retirement Date means any day that is after a Participant’s Normal Retirement Date and on which retirement benefits begin. If a Participant
continues to work for the Employer after his Normal Retirement Date, his Late Retirement Date shall be the day he has a Severance from Employment. A later Retirement Date (after a Severance from Employment) may apply if the Participant so elects.
See the WHEN BENEFITS START SECTION of Article V. 
 Leased Employee means any person (other than an employee of the recipient) who, pursuant to an
agreement between the recipient and any other person (“leasing organization”), has performed services for the recipient (or for the recipient and related persons determined in accordance with Code Section 414(n)(6)) on a substantially
full time basis for a period of at least one year, and such services are performed under primary direction or control by the recipient. Contributions or benefits provided by the leasing organization to a Leased Employee, which are attributable to
service performed for the recipient employer, shall be treated as provided by the recipient employer. 
 A Leased Employee shall not be considered an
employee of the recipient if: 
  

	(a)	 such employee is covered by a money purchase pension plan providing (i) a nonintegrated employer
contribution rate of at least 10 percent of compensation, as defined in Code Section 415(c)(3), (ii) immediate participation, and (iii) full and immediate vesting, and 

 

	(b)	 Leased Employees do not constitute more than 20 percent of the recipient’s nonhighly compensated work
force. 

 Loan Administrator means the person(s) or position(s) authorized to administer the Participant loan program. 

The Loan Administrator(s) is/are Our People Compliance & Retirement Officer. 

  

					
	Amend No. 4 Effective December 31, 2018	 	17	 	Plan ID No. 993915 (7-7695)

 Mandatory Distribution means a distribution to a Participant that is made without the
Participant’s consent and is made to the Participant before he attains the older of age 62 or his Normal Retirement Age. 
 Matching Contributions
means Employer Contributions that are contingent on a Participant’s Elective Deferral Contributions and Voluntary Contributions. See the EMPLOYER CONTRIBUTIONS SECTION of Article III. 

Maximum Integration Rate means the amount determined according to the following schedule: 

 

					
	 INTEGRATION
 LEVEL
	  	MAXIMUM
INTEGRATION RATE	 
	 100% of TWB
	  	 	5.7	% 
	 Less than 100%, but more than 80% of TWB
	  	 	5.4	% 
	 More than 20% of TWB, but not more than 80% of TWB
	  	 	4.3	% 
	 Not more than 20% of TWB
	  	 	5.7	% 

 “TWB” as used in this definition means the Taxable Wage Base as in effect on the latest Yearly Date. 

On any date the portion of the rate of tax under Code Section 3111(a) (in effect on the latest Yearly Date) that is attributable to old age insurance
exceeds 5.7%, such rate shall be substituted for 5.7%. 5.4% and 4.3% shall be increased proportionately. 
 Monthly Date means each Yearly Date and
the same day of each following month during the Plan Year beginning on such Yearly Date. 
 Named Fiduciary means the person or persons who have
authority to control and manage the operation and administration of the Plan. 
 The Named Fiduciary is the Plan Administrator. 

Named Fiduciary for Contributions means the Named Fiduciary responsible for collecting Contributions pursuant to the ADMINISTRATION SECTION of Article
IX. 
 Net Profits means the Employer’s current or accumulated net earnings, determined according to generally accepted accounting practices,
before any Contributions made by the Employer under this Plan and before any deduction for Federal or state income tax, dividends on the Employer’s stock, and capital gains or losses. If the Employer is a nonprofit organization under Code
Section 501(c)(3), Net Profits means excess revenues (excess of receipts over expenditures). 
 Nonhighly Compensated Employee means an Employee
of the Employer who is not a Highly Compensated Employee. 
 Nonvested Account means the excess, if any, of a Participant’s Account over his
Vested Account. 

  

					
	Amend No. 4 Effective December 31, 2018	 	18	 	Plan ID No. 993915 (7-7695)

 Normal Form means a single life annuity with installment refund. 

Normal Retirement Age means the age at which the Participant’s Account becomes nonforfeitable if he is an Employee. A Participant’s Normal
Retirement Age is 65. 
 Normal Retirement Date means the date the Participant reaches his Normal Retirement Age. Unless otherwise provided in this
Plan, a Participant’s retirement benefits shall begin on his Normal Retirement Date if he has had a Severance from Employment on such date. However, retirement benefits shall not begin before the older of age 62 or his Normal Retirement Age,
unless the qualified election procedures of the ELECTION PROCEDURES SECTION of Article VI are met. 
 Owner-employee means a Self-employed Individual
who, in the case of a sole proprietorship, owns the entire interest in the unincorporated trade or business for which this Plan is established. If this Plan is established for a partnership, an Owner-employee means a Self-employed Individual who
owns more than 10 percent of either the capital interest or profits interest in such partnership. 
 Parental Absence means an Employee’s
absence from work: 
  

	(a)	 by reason of pregnancy of the Employee, 

 

	(b)	 by reason of birth of a child of the Employee, 

 

	(c)	 by reason of the placement of a child with the Employee in connection with 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.

 Participant means either an Active Participant or an Inactive Participant. 

Participant Contributions means Voluntary Contributions as set out in Article III. 

Period of Military Duty means, for an Employee 
  

	(a)	 who served as a member of the armed forces of the United States, and 

 

	(b)	 who was reemployed by the Employer at a time when the Employee had a right to reemployment in accordance with
seniority rights as protected under Chapter 43 of Title 38 of the U.S. Code, 

 the period of time from the date the Employee was first
absent from active work for the Employer because of such military duty to the date the Employee was reemployed. 
 Period of Service means a period
of time beginning on an Employee’s Employment Commencement Date and ending on his Severance Date. 
 Period of Severance means a period of time
beginning on an Employee’s Severance Date and ending on the date he again performs an Hour of Service. 
 A
one-year Period of Severance means a Period of Severance of 12 consecutive months. 

  

					
	Amend No. 4 Effective December 31, 2018	 	19	 	Plan ID No. 993915 (7-7695)

 Solely for purposes of determining whether a one-year Period of
Severance has occurred for eligibility or vesting purposes, the consecutive 12-month period beginning on the first anniversary of the first date of a Parental Absence shall not be a one-year Period of Severance. 
 Permissible Withdrawal means a withdrawal that meets the requirements in the
ELIGIBLE AUTOMATIC CONTRIBUTION ARRANGEMENT (EACA) PROVISIONS SECTION or the QUALIFIED AUTOMATIC CONTRIBUTION ARRANGEMENT (QACA) SAFE HARBOR PROVISIONS SECTION of Article III. 

Plan means the 401(k) plan of the Employer set forth in this document, including any later amendments to it. If a Trust Agreement has been set up, the
term Plan shall also include the Trust Agreement, unless the context clearly indicates otherwise. 
 Plan Administrator means the person or persons
who administer the Plan. 
 The Plan Administrator is the Popular, Inc. Benefits Committee. 

Plan Fund means the total of the Investment Fund, the guaranteed benefit policy portion of any Annuity Contract, and the cash value of any Insurance
Policy. The Investment Fund shall be valued as stated in its definition. The guaranteed benefit policy portion of any Annuity Contract shall be determined in accordance with the terms of the Annuity Contract and, to the extent that such Annuity
Contract allocates contract values to Participants, allocated to Participants in accordance with its terms. The cash value of any Insurance Policy shall be stated in such policy. The total value of all amounts held under the Plan Fund shall equal
the value of the aggregate Participants’ Accounts under the Plan. 
 Plan Participation means the period of time during which a Participant has
been an Active Participant since his earliest Entry Date. 
 Plan Year means a consecutive 12-month period
beginning on a Yearly Date and ending on the day before the next Yearly Date. If the Yearly Date changes, the change will result in a short Plan Year. 

Plan-year Quarter means a period beginning on a Quarterly Date and ending on the day before the next Quarterly Date. 

Practitioner means Principal Life Insurance Company. 

Predecessor Employer means, except for purposes of the CONTRIBUTION LIMITATION SECTION of Article III, a firm of which the Employer was once a part
(e.g., due to a spin-off or change of corporate status) or a firm absorbed by the Employer because of a merger or acquisition (stock or asset, including a division or an operation of such company). 

Pre-tax Elective Deferral Contributions means a Participant’s Elective Deferral Contributions that are not
includible in the Participant’s gross income at the time deferred. 
 Prevailing Rate Schedule means a schedule that is published by the United
States Department of Labor or any State Department of Labor, indicating the minimum hourly rate for wages and fringe benefits (including, but not limited to, pension benefits) which must be paid to the employees of an employer working on particular
jobs financed or contracted by the United States of America or any State, County, Municipality, or other governmental entity. 

  

					
	Amend No. 4 Effective December 31, 2018	 	20	 	Plan ID No. 993915 (7-7695)

 Primary Beneficiary means an individual who is named as a Beneficiary under the Plan and has an
unconditional right to all or a portion of the Participant’s Account balance under the Plan upon the death of the Participant. 
 Primary Employer
means Popular, Inc. 
 Prior Employer means an Employee’s last employer immediately prior to the Employer that is not a Predecessor Employer
or a Controlled Group member. 
 QACA Matching Contributions means Matching Contributions made under a qualified automatic contribution arrangement
and that are distributable only in accordance with the distribution provisions applicable to Elective Deferral Contributions, to the extent QACA Matching Contributions can be distributed under such distribution provision. 

QACA Nonelective Contributions means Employer Contributions made under a qualified automatic contribution arrangement and that are distributable only
in accordance with the distribution provisions applicable to Elective Deferral Contributions, to the extent QACA Nonelective Contributions can be distributed under such distribution provision. 

Qualified Joint and Survivor Annuity means, for a Participant who has a spouse, an immediate survivorship life annuity with installment refund, where
the survivorship percentage is 50% and the Contingent Annuitant is the Participant’s spouse. A former spouse will be treated as the spouse to the extent provided under a qualified domestic relations order as described in Code
Section 414(p). 
 The amount of benefit payable under the Qualified Joint and Survivor Annuity shall be the amount of benefit that may be provided by
the Participant’s Vested Account. 
 Qualified Matching Contributions means Matching Contributions that are 100% vested when made to the Plan
and that are distributable only in accordance with the distribution provisions applicable to Elective Deferral Contributions, to the extent Qualified Matching Contributions can be distributed under such distribution provision. 

Qualified Military Service means any service in the uniformed services (as defined in Chapter 43 of Title 38 of the U.S. Code) by any individual if
such individual is entitled to reemployment rights under such chapter with respect to such service. 
 Qualified Nonelective Contributions means
Employer Contributions (other than Elective Deferral Contributions and Qualified Matching Contributions) that are 100% vested when made to the Plan and that are distributable only in accordance with the distribution provisions applicable to Elective
Deferral Contributions, to the extent Qualified Nonelective Contributions can be distributed under such distribution provision. 
 Qualified
Preretirement Survivor Annuity means a single life annuity with installment refund payable to the surviving spouse of a Participant who dies before his Annuity Starting Date. A former spouse will be treated as the surviving spouse to the extent
provided under a qualified domestic relations order as described in Code Section 414(p). 
 Qualified Reservist Distribution means any
distribution to an individual if: (i) such distribution is from an individual retirement plan, or from amounts attributable to employer contributions made pursuant to elective deferrals described in Code Section 402(g)(3)(A) or (C) or
Code Section 501(c)(18)(D)(iii); (ii) such individual 

  

					
	Amend No. 4 Effective December 31, 2018	 	21	 	Plan ID No. 993915 (7-7695)

 was (by reason of being a member of a reserve component (as defined in Section 101 of Title 37 of the
U.S. Code)) ordered or called to active duty after September 11, 2001, for a period in excess of 179 days or for an indefinite period; and (iii) such distribution is made during the period beginning on the date of such order or call and
ending at the close of the active duty period. 
 Qualifying Employer Securities means any security which is issued by the Employer or any Controlled
Group member and which meets the requirements of Code Section 409(1) and ERISA Section 407(d)(5). This shall also include any securities that satisfied the requirements of the definition when these securities were assigned to the Plan.

 Qualifying Employer Securities Fund means that part of the assets of the Trust Fund that are designated to be held primarily or exclusively in
Qualifying Employer Securities for the purpose of providing benefits for Participants. 
 Quarterly Date means each Yearly Date and the third, sixth,
and ninth Monthly Date after each Yearly Date that is within the same Plan Year. 
 Reemployment Commencement Date means, for purposes of determining
a Vesting Computation Period, the date an Employee first performs an Hour of Service following a Vesting Break in Service. For all other purposes, Reemployment Commencement Date means the date an Employee first performs an Hour of Service following
a Severance from Employment. 
 Reentry Date means the date a former Active Participant reenters the Plan. See the ACTIVE PARTICIPANT SECTION of
Article II. 
 Retirement Date means the date a retirement benefit will begin and is a Participant’s Early, Normal, or Late Retirement Date, as
the case may be. 
 Rollover Contributions means an amount distributed to an Employee that can be transferred directly or indirectly to this Plan
from another Eligible Retirement Plan. 
 Roth Elective Deferral Contributions means a Participant’s Elective Deferral Contributions that are
not excludible from the Participant’s gross income at the time deferred and have been irrevocably designated as Roth Elective Deferral Contributions by the Participant in his Elective Deferral Agreement. Whether an Elective Deferral
Contribution is not excludible from a Participant’s gross income will be determined in accordance with section 1.401(k)-1(f)(2) of the regulations. In the case of a Self-employed Individual, an Elective
Deferral Contribution is not excludible from gross income only if the individual does not claim a deduction for such amount. 
 Self-Directed Brokerage
Account means that portion of a Participant’s Account that is invested at the Participant’s direction in the Principal Self-Directed Brokerage AccountsSM. 

Self-employed Individual means, with respect to any taxable year, an individual who has Earned Income for the taxable year (or who would have Earned
Income but for the fact the trade or business for which this Plan is established did not have net profits for such taxable year). 
 Semi-yearly Date
means each Yearly Date and the sixth Monthly Date after each Yearly Date that is within the same Plan Year. 
 Severance Date means the earlier
of: 
  

	(a)	 the date on which an Employee quits, retires, dies, or is discharged, or 

  

					
	Amend No. 4 Effective December 31, 2018	 	22	 	Plan ID No. 993915 (7-7695)

	(b)	 the first anniversary of the date an Employee begins a one-year absence
from service (with or without pay). This absence may be the result of any combination of vacation, holiday, sickness, disability, leave of absence, or layoff. 

Solely to determine whether a one-year Period of Severance has occurred for eligibility or vesting purposes for an
Employee who is absent from service beyond the first anniversary of the first day of a Parental Absence, Severance Date is the second anniversary of the first day of the Parental Absence. The period between the first and second anniversaries of the
first day of the Parental Absence is not a Period of Service and is not a Period of Severance. 
 Severance from Employment means, except for
purposes of the CONTRIBUTION LIMITATION SECTION of Article III, an Employee has ceased to be an Employee. An Employee does not have a Severance from Employment if, in connection with a change of employment, the Employee’s new employer maintains
such Plan with respect to the Employee. 
 Significant Corporate Event means any corporate merger or consolidation, recapitalization,
reclassification, liquidation, dissolution, sale of substantially all assets of a trade or business, or such similar transaction as may be prescribed in regulations under Code Section 409(e)(3). 

Taxable Wage Base means the contribution and benefit base under section 230 of the Social Security Act. 

Totally and Permanently Disabled means that a Participant is disabled, as a result of sickness or injury, to the extent that he is prevented from
engaging in any substantial gainful activity, and is eligible for and receives a disability benefit under Title II of the Federal Social Security Act. 

Trust Agreement means an agreement of trust between the Primary Employer and Trustee established for the purpose of holding and distributing the Trust
Fund under the provisions of the Plan. The Trust Agreement may provide for the investment of all or any portion of the Trust Fund in the Annuity Contract and any Insurance Policy or any other investment arrangement. 

Trust Fund means the total funds held under the Trust Agreement. The term Trust Fund when used within a Trust Agreement shall mean only the funds held
under that Trust Agreement. 
 Trustee means the party or parties named in the Trust Agreement. 

Valuation Date means the date on which the value of the assets of the Investment Fund is determined. The value of each Account that is maintained under
this Plan shall be determined on the Valuation Date. In each Plan Year, the Valuation Date shall be the last day of the Plan Year. At the discretion of the Plan Administrator, Trustee, or Insurer (whichever applies) and in a nondiscriminatory
manner, assets of the Investment Fund may be valued more frequently. These dates shall also be Valuation Dates. 
 Vested Account means the vested
part of a Participant’s Account. The Participant’s Vested Account is determined as follows. 
 If the Participant’s Vesting Percentage for
all Employer Contributions is 100%, his Vested Account equals his Account. 

  

					
	Amend No. 4 Effective December 31, 2018	 	23	 	Plan ID No. 993915 (7-7695)

 If the Participant’s Vesting Percentage for all Employer Contributions is not 100%, his Vested Account
equals the sum of (a) and (b) below: 
  

	(a)	 The part of the Participant’s Account resulting from Employer Contributions made before a prior Forfeiture
Date and all other Contributions that were 100% vested when made. 

  

	(b)	 The balance of the Participant’s Account in excess of the amount in (a) above multiplied by his
Vesting Percentage. If his Vesting Percentages that apply to such Employer Contributions are not equal, the balance of his Account resulting from all types of Employer Contributions subject to the same Vesting Percentages shall be multiplied by the
applicable Vesting Percentages and each product added together to determine this amount. 

 If the Participant has withdrawn any part of
his Account resulting from Employer Contributions, other than the vested Employer Contributions included in (a) above, and his Vesting Percentage with respect to such Contributions is less than 100%, the amount determined under this
subparagraph (b) shall be equal to P(AB + D) - D as defined below: 
  

	P	 The Participant’s Vesting Percentage. 

 

	AB	 The balance of the Participant’s Account in excess of the amount in (a) above. 

 

	D	 The amount of the withdrawal resulting from Employer Contributions, other than the vested Employer
Contributions included in (a) above. 

 If the amount determined in this (b) is determined using different Vesting Percentages,
this formula shall apply separately to the calculation done for the balance of his Account resulting from all types of Employer Contributions subject to the same Vesting Percentage, including only the balance of his Account in excess of the amount
in (a) above resulting from Employer Contributions subject to the same Vesting Percentage and the amount of the withdrawal resulting from such Employer Contributions. This calculation is not required if the Vesting Percentage is 100%. 

Vesting Break in Service means the period defined for purposes of determining when a break in service has occurred. 

Vesting Break in Service is a one-year Period of Severance. An Employee incurs a Vesting Break in Service on the last
day of a one-year Period of Severance. 
 Vesting Computation Period means the
12-month period used to determine the hours for purposes of Vesting Service. 
 Vesting Percentage means the
percentage used to determine the nonforfeitable portion of a Participant’s Account attributable to Employer Contributions that were not 100% vested when made. 

  

					
	Amend No. 4 Effective December 31, 2018	 	24	 	Plan ID No. 993915 (7-7695)

 A Participant’s Vesting Percentage is shown in the following schedule opposite the number of whole
years of his Vesting Service. 
  

					
	 VESTING SERVICE
 (whole years)
	  	 VESTING

PERCENTAGE
	 
	 Less than 1
	  	 	0	 
	 1
	  	 	20	 
	 2
	  	 	40	 
	 3
	  	 	60	 
	 4
	  	 	80	 
	 5 or more
	  	 	100	 

 The Vesting Percentage for a Participant who is an Employee on or after the date he reaches Normal Retirement Age or Early
Retirement Age shall be 100%. The Vesting Percentage for a Participant who is an Employee on the date he dies or the date he becomes disabled shall be 100%. The Vesting Percentage for a Participant who dies or becomes disabled while performing
Qualified Military Service shall be 100%. For purposes of this paragraph, disabled means the disability is subsequently determined to meet the definition of Totally and Permanently Disabled. 

The schedule(s) used to determine a Participant’s Vesting Percentage shall provide a percentage of nonforfeitable rights which is not less than the
percentage that would have been provided under one of the options under Code Section 411(a)(2). 
 If the schedule used to determine a
Participant’s Vesting Percentage is changed, the new schedule shall not apply to a Participant unless he is credited with an Hour of Service on or after the date of the change and the Participant’s nonforfeitable percentage on the day
before the date of the change is not reduced under this Plan. The provisions of the AMENDMENTS SECTION of Article X regarding changes in the computation of the Vesting Percentage shall apply. 

Vesting Service means a period of service used to determine a Participant’s Vesting Percentage. 

Vesting Service is an Employee’s Period of Service. An Employee’s Period of Service shall be measured from his Employment Commencement Date to his
most recent Severance Date. This Period of Service shall be reduced by any Period of Severance that occurred prior to his most recent Severance Date, unless such Period of Severance is included under the service spanning rule below. This Period of
Service shall be expressed as years and fractional parts of a year (to four decimal places) on the basis that 365 days equal one year. 
 Period of
Severance included (service spanning rule): 
 A Period of Severance shall be deemed to be a Period of Service under either of the following
conditions: 
  

	 	(a)	 the Period of Severance immediately follows a period during which an Employee is not absent from work and ends
within 12 months; or 

  

					
	Amend No. 4 Effective December 31, 2018	 	25	 	Plan ID No. 993915 (7-7695)

	 	(b)	 the Period of Severance immediately follows a period during which an Employee is absent from work for any
reason other than quitting, being discharged, or retiring (such as a leave of absence or layoff) and ends within 12 months of the date he was first absent. 

Period of Military Duty included: 
 A Period of
Military Duty shall be included as service with the Employer to the extent it has not already been credited. 
 Controlled Group service included: 

An Employee’s service with a member firm of a Controlled Group while both that firm and the Employer were members of the Controlled Group
shall be included as service with the Employer. 
 However, Vesting Service is modified as follows: 

Service with a Predecessor Employer that did not maintain this Plan included: 

An Employee’s service with a Predecessor Employer that did not maintain this Plan shall be included as service with the Employer. The
crediting of such service shall be determined on a reasonably uniform basis for all similarly situated Employees based on all relevant facts and circumstances so as not to discriminate in favor of Highly Compensated Employees. An Employee’s
service with such Predecessor Employer shall be counted only if service continued with the Employer without interruption. 
 Voluntary Contributions
means contributions by a Participant that are 100% vested when made to the Plan and are not required as a condition of employment or participation, but are required for obtaining additional Employer Contributions. Voluntary Contributions, and
earnings thereon, shall be 100% vested and nonforfeitable at all times. See the VOLUNTARY CONTRIBUTIONS BY PARTICIPANTS SECTION of Article III. 
 Wage
Rate Contributions means Employer Contributions based on the applicable Prevailing Rate Schedule. See the EMPLOYER CONTRIBUTIONS SECTION of Article III. 

Yearly Date means October 1, 1991, and each following January 1. 

Years of Service means an Employee’s Vesting Service disregarding any modifications that exclude service. 

  

					
	Amend No. 4 Effective December 31, 2018	 	26	 	Plan ID No. 993915 (7-7695)

 ARTICLE II 

PARTICIPATION 
 SECTION
2.01—ACTIVE PARTICIPANT. 
  

	(a)	 An Employee shall first become an Active Participant (begin active participation in the Plan) on the earliest
Monthly Date on which he is an Eligible Employee and has met the eligibility requirement(s) set forth below. This date is his Entry Date. 

  

	 	•	 	 He has completed 30 days of Eligibility Service before his Entry Date. 

 

	(b)	 If the Plan’s eligibility requirements are changed, an Employee who was an Active Participant immediately
prior to the effective date of the change is deemed to satisfy the new requirements and his Entry Date shall not change. 

  

	(c)	 Each Employee who was an Active Participant on the day before the effective date of a restatement of the Plan
(as determined in the Introduction) shall continue to be an Active Participant if he is still an Eligible Employee on such restatement effective date and his Entry Date shall not change. 

 

	(d)	 If service with a Predecessor Employer or Prior Employer is counted for purposes of Eligibility Service, an
Employee shall be credited with such service on the date he becomes an Employee and shall become an Active Participant for purposes of specified Contributions which have an Eligibility Service requirement on the earliest Entry Date for such
Contributions on which he is an Eligible Employee and has met all of the eligibility requirements for such Contributions above. This date is his Entry Date for such Contributions. 

 

	(e)	 If a person has been an Eligible Employee who has met all of the eligibility requirements for purposes of
specified Contributions which have any such requirements, but is not an Eligible Employee on the date that would have been his Entry Date for such Contributions, he shall become an Active Participant for purposes of such Contributions on the date he
again becomes an Eligible Employee. This date is his Entry Date for such Contributions. 

  

	(f)	 In the event an Employee who is not an Eligible Employee becomes an Eligible Employee, he shall become an
Active Participant for purposes of specified Contributions immediately if he has satisfied the eligibility requirements for such Contributions and would have otherwise previously become an Active Participant had he met the definition of Eligible
Employee. This date is his Entry Date for such Contributions. 

  

	(g)	 An Inactive Participant shall again become an Active Participant (resume active participation in the Plan) for
purposes of the Contributions for which he previously had an Entry Date on the date he again performs an Hour of Service as an Eligible Employee. This date is his Reentry Date for such Contributions. 

Upon again becoming an Active Participant, he shall cease to be an Inactive Participant. 

 

	(h)	 A former Participant shall again become an Active Participant (resume active participation in the Plan) for
purposes of the Contributions for which he previously had an Entry Date on the date he again performs an Hour of Service as an Eligible Employee. This date is his Reentry Date for such Contributions. 

  

					
	Amend No. 4 Effective December 31, 2018	 	27	 	Plan ID No. 993915 (7-7695)

	(i)	 A Participant’s earliest Entry Date shall be used to determine if he is an Active Participant for purposes
of any minimum contribution or allocation under the MODIFICATION OF CONTRIBUTIONS SECTION of Article XI. 

 SECTION 2.02—INACTIVE
PARTICIPANT. 
 An Active Participant shall become an Inactive Participant on the earlier of the following: 

 

	(a)	 the date the Participant ceases to be an Eligible Employee, or 

 

	(b)	 the effective date of complete termination of the Plan under Article VIII. 

An Employee or former Employee who was an Inactive Participant on the day before the effective date of the restatement or amendment (as determined in the
Introduction) shall continue to be an Inactive Participant on the effective date of such restatement or amendment. Eligibility for any benefits payable to the Participant or on his behalf and the amount of the benefits shall be determined according
to the provisions of the prior document, unless otherwise stated in this document or any subsequent documents. 
 SECTION 2.03—CESSATION OF
PARTICIPATION. 
 A Participant shall cease to be a Participant on the date he is no longer an Eligible Employee and his Account is zero. 

SECTION 2.04—ADOPTING EMPLOYERS - SEPARATE PLANS. 

No other employer has adopted this Plan as a separate plan. 

SECTION 2.05—ADOPTING EMPLOYERS - SINGLE PLAN. 
 Each
of the Controlled Group members listed below is an Adopting Employer. Each Adopting Employer listed below participates with the Employer in this Plan. An Adopting Employer’s agreement to participate in this Plan shall be in writing. 

The Employer has the right to amend the Plan. An Adopting Employer does not have the right to amend the Plan. 

If the Adopting Employer did not maintain its plan before its date of adoption specified below, its date of adoption shall be the Entry Date for any of its
Employees who have met the requirements in the ACTIVE PARTICIPANT SECTION of this article as of that date. Service with and Compensation from an Adopting Employer shall be included as service with and Compensation from the Employer. Transfer of
employment, without interruption, between an Adopting Employer and another Adopting Employer or the Employer shall not be considered an interruption of service. 

The Primary Employer’s Fiscal Year defined in the DEFINITIONS SECTION of Article I shall be the Fiscal Year used in interpreting this Plan for Adopting
Employers. 

  

					
	Amend No. 4 Effective December 31, 2018	 	28	 	Plan ID No. 993915 (7-7695)

 Contributions made by an Adopting Employer shall be treated as Contributions made by the Employer.
Forfeitures arising from those Contributions shall be used for the benefit of all Participants. 
 An employer shall not be an Adopting Employer if it
ceases to be a Controlled Group member. Such an employer may continue a retirement plan for its Employees in the form of a separate document. This Plan shall be amended to delete a former Adopting Employer from the list below. 

If (i) an employer ceases to be an Adopting Employer or the Plan is amended to delete an Adopting Employer and (ii) the Adopting Employer does not
continue a retirement plan for the benefit of its Employees, partial termination may result and the provisions of Article VIII shall apply. 

ADOPTING EMPLOYERS 
  

			
	NAME	  	DATE OF ADOPTION
	Banco Popular de Puerto Rico	  	April 1, 2006
		
	Popular Bank (known as Banco Popular North America prior to April 9, 2018)	  	April 1, 2006

 SECTION 2.06—ADOPTING EMPLOYERS - MULTIPLE EMPLOYER PLAN. 

No other employer has adopted this Plan as a multiple employer plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	29	 	Plan ID No. 993915 (7-7695)

 ARTICLE III 

CONTRIBUTIONS 
 SECTION
3.01—EMPLOYER CONTRIBUTIONS. 
 Employer Contributions are conditioned on initial qualification of the Plan. If the Plan is denied initial
qualification, the provisions of the QUALIFICATION OF PLAN SECTION of Article X shall apply. 
 Employer Contributions shall be made without regard to Net
Profits. Notwithstanding the foregoing, the Plan shall continue to be designed to qualify as a profit sharing plan for purposes of Code Sections 401(a), 402, 412, and 417. Such Contributions shall be equal to the Employer Contributions as described
below: 
  

	(a)	 The amount of each Elective Deferral Contribution for a Participant shall be equal to a portion of Compensation
as specified in an Elective Deferral Agreement. Such Elective Deferral Contribution shall not be made before the later of (i) the adoption or effective date of the cash or deferred arrangement (CODA) or (ii) the date the Participant signs
the Elective Deferral Agreement. An Employee who is eligible to participate in the Plan for purposes of Elective Deferral Contributions may file an Elective Deferral Agreement with the Employer. The Participant shall modify or terminate an Elective
Deferral Agreement by filing a new Elective Deferral Agreement. An Elective Deferral Agreement shall remain in effect until modified or terminated by the Participant. An Elective Deferral Agreement may also be terminated according to the terms of an
automatic contribution arrangement. 

 An Elective Deferral Agreement to start or modify Elective Deferral Contributions
shall be effective as soon as administratively feasible on or after the Participant’s Entry Date (Reentry Date, if applicable) or any following date. An Elective Deferral Agreement must be entered into on or before the date it is effective.

 An Elective Deferral Agreement to stop Elective Deferral Contributions may be entered into on any date. Such Elective Deferral Agreement
shall be effective as soon as administratively feasible following the date on which the Elective Deferral Agreement is entered into. 

Elective Deferral Contributions made pursuant to an Elective Deferral Agreement or the terms of an automatic contribution arrangement shall not
be made earlier than the date (i) the Participant performs the services that relate to such Elective Deferral Contributions or (ii) the Compensation used to calculate such Elective Deferral Contributions would be payable to the Participant
if not contributed to the Plan. 
 Elective Deferral Contributions cannot be more than 70% of Compensation. A Participant who is eligible to
make Catch-up Contributions shall not be limited to the maximum deferral percentage unless his Elective Deferral Contributions, including Catch-up Contributions, exceed
this limit plus the dollar limitation on Catch-up Contributions. 
 A Participant who is age 50 or
older by the end of the taxable year shall be eligible to make Catch-up Contributions. 
 The Plan
provides for an automatic election to have Elective Deferral Contributions made. The automatic Elective Deferral Contribution shall be Pre-tax Elective Deferral Contributions and shall be 4% of Compensation.
The automatic Elective Deferral Contribution may be automatically increased 

  

					
	Amend No. 4 Effective December 31, 2018	 	30	 	Plan ID No. 993915 (7-7695)

 as soon as administratively feasible on or after a date in each Plan Year to be determined
by the Plan Administrator in its sole discretion by 1% up to a maximum automatic Elective Deferral Contribution of 8%. The Participant may affirmatively elect a different percentage or elect not to make Elective Deferral Contributions, and may elect
to designate all or any portion of his Elective Deferral Contributions as Roth Elective Deferral Contributions, if Roth Elective Deferral Contributions are allowed. 

The automatic election shall apply when a Participant first becomes eligible to make Elective Deferral Contributions (or again becomes eligible
after a period during which he was not an Active Participant). The automatic election shall begin as soon as administratively feasible on the first day of the month that is 30 days after his Employment Commencement Date or Reemployment Commencement
Date, whichever is applicable. 
 Each Active Participant who has affirmatively elected to defer a percentage of Compensation that is less
than 8% may have the amount of Elective Deferral Contributions stated in his Elective Deferral Agreement increased by 1% as soon as administratively feasible on or after a date in each Plan Year to be determined by the Plan Administrator in its sole
discretion. Such increase shall only be applied to the amount of Elective Deferral Contributions stated in his Elective Deferral Agreement applicable to Pre-tax Elective Deferral Contributions and shall not
result in any elective deferral percentage(s) over 8% of Compensation. As of the date this increase is applied, the portion of a Participant’s Elective Deferral Agreement applicable to Pre-tax Elective
Deferral Contributions shall expire. The Participant shall be given a reasonable period of time before the increase is applied to elect out of the increase. Such increase shall not be applied if, on the date of the increase, another provision in
this section changes the amount of Elective Deferral Contributions stated in a Participant’s Elective Deferral Agreement. 
 An
amendment that increases the amount of the automatic Elective Deferral Contribution shall apply to Participants as follows. The higher automatic deferral percentage shall apply to Participants at the time they enter or reenter the Plan on or after
the effective date of such amendment and to Participants who were already automatically enrolled as of the effective date of such amendment. 

An amendment that decreases the amount of the automatic Elective Deferral Contribution shall only apply to Participants at the time they enter
or reenter the Plan on or after the effective date of such amendment. The lower automatic deferral percentage shall not apply to Participants who were already automatically enrolled as of the effective date of such amendment. 

The Participant shall be provided a notice that explains the automatic election and his right to elect a different rate of Elective Deferral
Contributions or to elect not to make Elective Deferral Contributions, and his right to designate all or any portion of his Elective Deferral Contributions as Roth Elective Deferral Contributions, if Roth Elective Deferral Contributions are allowed.
The notice shall include the procedure for exercising those rights and the timing for implementing any such elections. The Participant shall be given a reasonable period thereafter to elect a different rate of Elective Deferral Contributions or to
elect not to make Elective Deferral Contributions, and to designate all or any portion of his Elective Deferral Contributions as Roth Elective Deferral Contributions, if allowed. 

Each Active Participant affected by the automatic election and automatic increase (if applicable) shall be provided an annual notice that
explains the automatic election and his right to elect a different rate of Elective Deferral Contributions or to elect not to make Elective Deferral Contributions, and his right to designate all or any portion of his Elective Deferral Contributions
as Roth Elective Deferral Contributions, if allowed. The notice shall include the procedure for exercising those rights and the timing for implementing any such elections. 

  

					
	Amend No. 4 Effective December 31, 2018	 	31	 	Plan ID No. 993915 (7-7695)

 No Participant shall be permitted to have Elective Deferral Contributions, as defined in the
EXCESS AMOUNTS SECTION of this article, made under this Plan, or any other plan, contract, or arrangement maintained by the Employer, during any calendar year, in excess of the dollar limitation contained in Code Section 402(g) in effect for
the Participant’s taxable year beginning in such calendar year. The dollar limitation in the preceding sentence shall be increased by the dollar limit on Catch-up Contributions under Code
Section 414(v)(2)(B)(i) for the taxable year for any Participant who will be age 50 or older by the end of the taxable year. 
 The
dollar limitation contained in Code Section 402(g) was $15,000 for taxable years beginning in 2006. After 2006, the $15,000 limit is adjusted by the Secretary of the Treasury for
cost-of-living increases under Code Section 402(g)(4). Any such adjustments will be in multiples of $500. 

Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up
Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) was $5,000 for taxable years beginning in 2006. After 2006, the $5,000 limit is adjusted
by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500. 

Elective Deferral Contributions are 100% vested and nonforfeitable. 
  

	(b)	 The Employer shall make Matching Contributions in an amount equal to 50% of Elective Deferral Contributions and
Voluntary Contributions. 

 Elective Deferral Contributions and Voluntary Contributions that are over 8% of Compensation
won’t be matched. 
 Matching Contributions are calculated based on Elective Deferral Contributions, Voluntary Contributions, and
Compensation for the payroll period. Matching Contributions are made for all persons who were Active Participants at any time during that payroll period. 

Elective Deferral Contributions that are Catch-up Contributions shall be matched. 

The maximum Matching Contribution for a person for the Plan Year is 4% of Compensation. 

The Employer may make true-up Matching Contributions if the period used to determine Matching
Contributions is a period that is not the Plan Year. The amount of true-up Matching Contributions shall be calculated by subtracting the total Matching Contributions determined for the specified period above
from the Matching Contributions based on Elective Deferral Contributions, Voluntary Contributions, and Compensation for the Plan Year (excluding Elective Deferral Contributions, Voluntary Contributions, and Compensation for any portion of the Plan
Year in which an Employee is not an Active Participant). True-up Matching Contributions, if any, shall be made for all persons who are Active Participants on the last day of the Plan Year. 

Matching Contributions are subject to the Vesting Percentage. 
  

	(c)	 Qualified Nonelective Contributions are not permitted. 

  

					
	Amend No. 4 Effective December 31, 2018	 	32	 	Plan ID No. 993915 (7-7695)

	(d)	 QACA Nonelective Contributions are not permitted. 

 

	(e)	 Additional Contributions are not permitted. 

 

	(f)	 Wage Rate Contributions are not permitted. 

 

	(g)	 Discretionary Contributions may be made for each Plan Year in an amount determined by the Employer.

 Discretionary Contributions are subject to the Vesting Percentage. 

Employer Contributions are allocated according to the provisions of the ALLOCATION SECTION of this article. 

The Employer may make all or a part of an annual Employer Contribution (Contributions that are calculated based on Annual Compensation or Compensation for the
Plan Year) before the end of the Plan Year. Such Contributions that are made for or allocated to each person who was an Active Participant at any time during the Plan Year shall be allocated when made in a manner that approximates the allocation
that would otherwise have been made as of the last day of the Plan Year. Succeeding allocations shall take into account amounts previously allocated for the Plan Year. The percentage of the Employer Contribution allocated to the Participant for the
Plan Year shall be the same percentage that would have been allocated to him if the entire allocation had been made as of the last day of the Plan Year. Excess allocations shall be forfeited and reallocated as necessary to provide the percentage
applicable to each Participant. Any other annual Employer Contributions made before the end of the Plan Year shall be held unallocated until the last day of the Plan Year. Then, as of the last day of the Plan Year, the advance Contributions (and
earnings) shall be allocated according to the provisions of the ALLOCATION SECTION of this article. 
 A portion of the Plan assets resulting from Employer
Contributions (but not more than the original amount of those Contributions) may be returned if the Employer Contributions are made because of a mistake of fact or are more than the amount deductible under Code Section 404 (excluding any amount
which is not deductible because the Plan is disqualified). The amount involved must be returned to the Employer within one year after the date the Employer Contributions are made by mistake of fact or the date the deduction is disallowed, whichever
applies. Except as provided under this paragraph and in Articles VIII and X, the assets of the Plan shall never be used for the benefit of the Employer and are held for the exclusive purpose of providing benefits to Participants and their
Beneficiaries and for defraying reasonable expenses of administering the Plan. 
 SECTION 3.02—VOLUNTARY CONTRIBUTIONS BY PARTICIPANTS. 

An Active Participant who is a resident of the British Virgin Islands may make Voluntary Contributions by payroll deduction in accordance with
nondiscriminatory procedures set up by the Plan Administrator. 
 Voluntary Contributions must be a whole percentage of Compensation. 

Voluntary Contributions cannot be more than 70% of Compensation. 

The Plan provides for an automatic election to have Voluntary Contributions made. The automatic Voluntary Contribution shall be 4% of Compensation. The
automatic Voluntary Contribution may be automatically increased as soon as administratively feasible on or after a date in each Plan Year to be determined by the Plan Administrator in its sole discretion by 1% up to a maximum automatic Voluntary
Contribution of 8%. The 

  

					
	Amend No. 4 Effective December 31, 2018	 	33	 	Plan ID No. 993915 (7-7695)

 
Participant may affirmatively elect a different percentage or elect not to make Voluntary Contributions. If the Participant elects a different percentage, such percentage must comply with any
limitations otherwise provided in the Plan. 
 The automatic election shall apply when a Participant first becomes eligible to make Voluntary Contributions.
The automatic election shall begin on the first day of the month that is 30 days after his Employment Commencement Date or Reemployment Commencement Date, whichever is applicable. 

For Active Participants who currently do not have an automatic Voluntary Contribution but contribute Voluntary Contributions in an amount less than 8% or are
currently not contributing Voluntary Contributions (contributing 0%), they may receive a percentage increase of 1% as soon as administratively feasible on or after a date in each Plan Year to be determined by the Plan Administrator in its sole
discretion until the amount of 8% is met. 
 The Participant shall be provided a notice that explains the automatic election and his right to elect a
different rate of Voluntary Contributions or to elect not to make Voluntary Contributions. The notice shall include the procedure for exercising those rights and the timing for implementing any such elections. The Participant shall be given a
reasonable period thereafter to elect a different rate of Voluntary Contributions or to elect not to make Voluntary Contributions. 
 Each Active
Participant affected by the automatic election and automatic increase (if applicable) shall be provided an annual notice that explains the automatic election and his right to elect a different rate of Voluntary Contributions or to elect not to make
Voluntary Contributions. The notice shall include the procedure for exercising those rights and the timing for implementing any such elections. 
 The Plan
will not accept deductible Voluntary Contributions that are made for a taxable year beginning after December 31, 1986. Such Contributions made prior to that date shall be maintained in a separate account which will be nonforfeitable at all
times. Any Voluntary Contributions made after December 31, 1986, shall be nondeductible Voluntary Contributions. 
 A Participant’s participation in
the Plan is not affected by stopping or changing Voluntary Contributions. An Active Participant’s request to start, change or stop Voluntary Contributions must be made in such manner and in accordance with such rules as the Employer may
prescribe (including by means of voice response or other electronic system under circumstances the Employer permits). 
 Voluntary Contributions shall be
credited to the Participant’s Account when made. 
 The part of the Participant’s Account resulting from Voluntary Contributions is 100% vested
and nonforfeitable at all times. 
 SECTION 3.03—ROLLOVER CONTRIBUTIONS. 

A Rollover Contribution may be made by an Eligible Employee if the following conditions are met: 

 

	(a)	 The Contribution is a Participant Rollover Contribution or a direct rollover of an Eligible Rollover
Distribution from the types of plans and types of contributions specified below. 

 Direct Rollovers. The Plan will
accept a direct rollover of an Eligible Rollover Distribution from: 
 A qualified plan described in Code Section 401(a) or 403(a),
including after-tax employee contributions and excluding any portion of a designated Roth account. 

  

					
	Amend No. 4 Effective December 31, 2018	 	34	 	Plan ID No. 993915 (7-7695)

 An annuity contract described in Code Section 403(b), including after-tax employee contributions and excluding any portion of a designated Roth account. 
 Participant
Rollover Contributions from Other Plans. The Plan will accept a Participant contribution of an Eligible Rollover Distribution from: 
 A
qualified plan described in Code Section 401(a) or 403(a), excluding after-tax employee contributions and excluding distributions of a designated Roth account. 

An annuity contract described in Code Section 403(b), excluding after-tax employee contributions
and excluding distributions of a designated Roth account. 
 An eligible plan under Code Section 457(b) 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, excluding distributions of a designated Roth account. 

Participant Rollover Contributions from IRAs. The Plan will accept a Participant Rollover Contribution of the portion of a distribution
from an individual retirement account or individual retirement annuity described in Code Section 408(a) or (b) that is eligible to be rolled over and would otherwise be includible in the Participant’s gross income. 

 

	(b)	 The Contribution is of amounts that the Code permits to be transferred to a plan that meets the requirements of
Code Section 401(a). 

  

	(c)	 The Contribution is made in the form of a direct rollover under Code Section 401(a)(31) or is a rollover
made under Code Section 402(c) or 408(d)(3)(A) within 60 days after an Eligible Employee receives the distribution. 

  

	(d)	 The Eligible Employee furnishes evidence satisfactory to the Plan Administrator that the proposed rollover
meets conditions (a), (b), and (c) above. Such evidence must be reasonable and cannot effectively eliminate or substantially impair the Eligible Employee’s right to elect a direct rollover. 

A Rollover Contribution shall be allowed in cash or in kind and must be made according to procedures set up by the Plan Administrator. The in-kind distribution must be of an allowable security under the Self-Directed Brokerage Account. 
 If the Eligible
Employee is not an Active Participant when the Rollover Contribution is made, he shall be deemed to be an Active Participant only for the purpose of investment and distribution of the Rollover Contribution. Employer Contributions shall not be made
for or allocated to the Eligible Employee and he may not make Participant Contributions until the time he meets all of the requirements to become an Active Participant. 

Rollover Contributions made by an Eligible Employee shall be credited to his Account. The part of the Participant’s Account resulting from Rollover
Contributions is 100% vested and nonforfeitable at all times. Separate accounting records shall be maintained for those parts of his Rollover Contributions consisting of (i) voluntary contributions which were deducted from the
Participant’s gross income for Federal income tax purposes; (ii) after-tax employee contributions, including the portion that would not have been includible in 

  

					
	Amend No. 4 Effective December 31, 2018	 	35	 	Plan ID No. 993915 (7-7695)

 
the Participant’s gross income if the contributions were not rolled over into this Plan; and (iii) any portion of a designated Roth account, including the portion that would not have
been includible in the Participant’s gross income if the contributions were not rolled over into this Plan. 
 SECTION 3.04—IN-PLAN ROTH ROLLOVERS. 
 In-plan Roth Rollovers are not permitted.

 SECTION 3.05—FORFEITURES. 
 The Nonvested
Account of a Participant shall be forfeited as of the earlier of the following: 
  

	(a)	 the date the record keeper is notified that the Participant died (if prior to such date he has had a Severance
from Employment), or 

  

	(b)	 the Participant’s Forfeiture Date. 

A Participant’s Nonvested Account shall be forfeited before the earlier of (a) or (b) above if, after he has a Severance from Employment, he
receives, or is deemed to receive, a distribution of his entire Vested Account under the RETIREMENT BENEFITS SECTION of Article V, the VESTED BENEFITS SECTION of Article V, or the SMALL AMOUNTS SECTION of Article X. The forfeiture shall occur as of
the date the Participant receives, or is deemed to receive, the distribution. 
 A Forfeiture of Matching Contributions that relate to excess amounts shall
also occur as provided in the EXCESS AMOUNTS SECTION of this article. 
 Forfeitures shall be determined at least once during each Plan Year. Forfeitures
may be used to pay administrative expenses or to reduce Employer Contributions (other than Elective Deferral Contributions, Qualified Matching Contributions, and Qualified Nonelective Contributions) made after the Forfeitures are determined.
Forfeitures of Matching Contributions that relate to excess amounts as provided in the EXCESS AMOUNTS SECTION of this article that have not been used to pay administrative expenses, shall be used to reduce Employer Contributions (other than Elective
Deferral Contributions, Qualified Matching Contributions, and Qualified Nonelective Contributions) made after the Forfeitures are determined. Forfeitures that have not been used to pay administrative expenses or used to reduce Employer Contributions
shall be allocated as of the last day of the Plan Year in which such Forfeitures are determined as provided in the ALLOCATION SECTION of this article. Upon their allocation to Accounts, or application to reduce Employer Contributions, Forfeitures
shall be deemed to be Employer Contributions. 
 If a Participant again becomes an Eligible Employee after receiving a distribution which caused all of his
Nonvested Account to be forfeited, he shall have the right to repay to the Plan the entire amount of the distribution he received (excluding any amount of such distribution resulting from Participant Contributions and Rollover Contributions). The
repayment must be made in a single sum (repayment in installments is not permitted) before the earlier of the date five years after the date he again becomes an Eligible Employee or the end of the first period of five consecutive Vesting Break in
Service periods which begin after the date of the distribution. 
 If the Participant makes the repayment above, the Plan Administrator shall restore to his
Account an amount equal to his Nonvested Account that was forfeited on the date of distribution, unadjusted for any investment gains or losses. If no amount is to be repaid because the Participant was deemed to have received a distribution or only
received a distribution of Participant Contributions or Rollover Contributions, and he again performs an Hour of Service as an Eligible Employee within the repayment period, the Plan Administrator 

  

					
	Amend No. 4 Effective December 31, 2018	 	36	 	Plan ID No. 993915 (7-7695)

 
shall restore the Participant’s Account as if he had made a required repayment on the date he performed such Hour of Service. Restoration of the Participant’s Account shall include
restoration of all Code Section 411(d)(6) protected benefits with respect to the restored Account, according to applicable Treasury regulations. Provided, however, the Plan Administrator shall not restore the Nonvested Account if (i) a Forfeiture
Date has occurred after the date of the distribution and on or before the date of repayment and (ii) that Forfeiture Date would result in a complete forfeiture of the amount the Plan Administrator would otherwise restore. 

The Plan Administrator shall restore the Participant’s Account by the close of the Plan Year following the Plan Year in which repayment is made. The
permissible sources for restoration of the Participant’s Account are Forfeitures or special Employer Contributions. Such special Employer Contributions shall be made without regard to profits. The repaid and restored amounts are not included in
the Participant’s Annual Additions, as defined in the CONTRIBUTION LIMITATION SECTION of this article. 
 SECTION 3.06—ALLOCATION. 

A person meets the allocation requirements of this section if he is an Active Participant on the last day of the Plan Year. 

Elective Deferral Contributions shall be allocated to the Participants for whom such Contributions are made under the EMPLOYER CONTRIBUTIONS SECTION of this
article. Such Contributions shall be allocated when made and credited to the Participant’s Account 
 Matching Contributions shall be allocated to the
persons for whom such Contributions are made under the EMPLOYER CONTRIBUTIONS SECTION of this article. Matching Contributions shall be allocated no later than the last day of the Plan Year 

Forfeitures that have not been used to pay administrative expenses or used to reduce Employer Contributions shall be allocated as of the last day of the Plan
Year in which such Forfeitures are determined. 
 Discretionary Contributions plus any Forfeitures shall be allocated as of the last day of the Plan Year,
using Annual Compensation for the Plan Year. The allocation shall be made to each person meeting the allocation requirements of this section. The amount allocated shall be equal to the Discretionary Contributions plus any Forfeitures multiplied by
the ratio of such person’s Annual Compensation to the total Annual Compensation for all such persons. In years in which the Plan is a Top-heavy Plan, as defined in the DEFINITIONS SECTION of Article XI,
and the minimum contribution under the MODIFICATION OF CONTRIBUTIONS SECTION of Article XI is not being provided by other contributions to this Plan or another plan of the Employer, and the allocation described above would provide an allocation for
any person less than the minimum contribution required for such person in the MODIFICATION OF CONTRIBUTIONS SECTION of Article XI, such minimum contribution shall first be allocated to all such persons. Then any amount remaining shall be allocated
to the remaining persons sharing in the allocation based on Annual Compensation as described above, as if they were the only persons sharing in the allocation for the Plan Year The allocation for any person who does not meet the allocation
requirements of this section shall be limited to the amount necessary to fund the minimum contribution. 
 This amount shall be credited to the
person’s Account 
 If Leased Employees are Eligible Employees, in determining the amount of Employer Contributions allocated to a person who is a
Leased Employee, contributions provided by the leasing organization that are attributable to services such Leased Employee performs for the Employer shall be treated as provided by the Employer. Those contributions shall not be duplicated under this
Plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	37	 	Plan ID No. 993915 (7-7695)

 SECTION 3.07—CONTRIBUTION LIMITATION. 

The limitations of this section shall apply to Limitation Years beginning on or after July 1, 2007, except as otherwise provided herein. 

 

	(a)	 Definitions. For the purpose of determining the contribution limitation set forth in this section, the
following terms are defined. 

 Annual Additions means the sum of the following amounts credited to a
Participant’s account for the Limitation Year: 
  

	 	(1)	 employer contributions; 

 

	 	(2)	 employee contributions; and 

 

	 	(3)	 forfeitures. 

Annual Additions to a defined contribution plan, as defined in section 1.415(c)-1(a)(2)(i) of the
regulations, shall also include the following: 
  

	 	(4)	 mandatory employee contributions, as defined in Code Section 411(c)(2)(C) and section 1.411(c)-1(c)(4) of the regulations, to a defined benefit plan; 

  

	 	(5)	 contributions allocated to any individual medical benefit account, as defined in Code Section 415(1)(2),
which is part of a pension or annuity plan maintained by the Employer; 

  

	 	(6)	 amounts attributable to post-retirement medical benefits, allocated to the separate account of a key employee,
as defined in Code Section 419A(d)(3), under a welfare benefit fund, as defined in Code Section 419(e), maintained by the Employer; 

  

	 	(7)	 annual additions under an annuity contract described in Code Section 403(b); and 

 

	 	(8)	 allocations under a simplified employee pension. 

Compensation means wages within the meaning of Code Section 3401(a) for the purposes of income tax withholding at the source but
determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)). 

For any Self-employed Individual, Compensation means Earned Income. 

Except as provided herein, Compensation for a Limitation Year is the Compensation actually paid or made available (or if earlier, includible in
gross income) during such Limitation Year. 
 Compensation for a Limitation Year shall also include Compensation paid by the later of 2 1/2
months after an employee’s Severance from Employment with the Employer maintaining the plan or the end of the Limitation Year that includes the date of the employee’s Severance from Employment with the Employer maintaining the plan, if the
payment is regular Compensation for services during the employee’s regular working hours, or Compensation for services outside the employee’s regular 

  

					
	Amend No. 4 Effective December 31, 2018	 	38	 	Plan ID No. 993915 (7-7695)

 working hours (such as overtime or shift differential), commissions, bonuses, or other
similar payments, and, absent a Severance from Employment, the payments would have been paid to the employee while the employee continued in employment with the Employer. 

Any payments not described above shall not be considered Compensation if paid after Severance from Employment, even if they are
paid by the later of 2 1/2 months after the date of Severance from Employment or the end of the Limitation Year that includes the date of Severance from Employment. 

Back pay, within the meaning of section 1.415(c)-2(g)(8) of the regulations, shall be treated as
Compensation for the Limitation Year to which the back pay relates to the extent the back pay represents wages and compensation that would otherwise be included in this definition. 

Compensation paid or made available during such Limitation Year shall include amounts that would otherwise be included in Compensation but for
an election under Code Section 125(a), 132(1)(4), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b). 
 Compensation shall not include amounts
paid as Compensation to a nonresident alien, as defined in Code Section 7701(b)(1)(B), who is not a Participant in the Plan to the extent the Compensation is excludible from gross income and is not effectively connected with the conduct of a
trade or business within the United States. 
 Defined Contribution Dollar Limitation means $40,000, automatically adjusted under Code
Section 415(d) effective January 1 of each year, as published in the Internal Revenue Bulletin. The new limitation shall apply to Limitation Years ending with or within the calendar year of the date of the adjustment, but a
Participant’s Annual Additions for a Limitation Year cannot exceed the currently applicable dollar limitation (as in effect before the January 1 adjustment) prior to January 1. However, after a January 1 adjustment is made, Annual
Additions for the entire Limitation Year are permitted to reflect the dollar limitation as adjusted on January 1. 
 Employer means
the employer that adopts this Plan, and all members of a controlled group of corporations (as defined in Code Section 414(b) as modified by Code Section 415(h)), all commonly controlled trades or businesses (as defined in Code
Section 414(c), as modified, except in the case of a brother-sister group of trades or businesses under common control, by Code Section 415(h)), or affiliated service groups (as defined in Code Section 414(m)) of which the adopting
employer is a part, and any other entity required to be aggregated with the employer pursuant to Code Section 414(0). 
 Limitation
Year means the consecutive 12-month period ending on the last day of each Plan Year, including corresponding consecutive 12-month periods before the original
effective date of the Plan. All qualified plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is other than the calendar year, execution of this Plan (or any amendment to this Plan changing the Limitation Year)
constitutes the Employer’s adoption of a written resolution electing the Limitation Year. If the Limitation Year is amended to a different consecutive 12-month period, the new Limitation Year must begin
on a date within the Limitation Year in which the amendment is made. 
 Maximum Annual Addition means, except for catch-up contributions described in Code Section 414(v), the Annual Addition that may be contributed or allocated to a Participant’s Account under the Plan for any Limitation Year. This amount shall not
exceed the lesser of: 
  

	 	(1)	 The Defined Contribution Dollar Limitation, or 

  

					
	Amend No. 4 Effective December 31, 2018	 	39	 	Plan ID No. 993915 (7-7695)

	 	(2)	 100 percent of the Participant’s Compensation for the Limitation Year. 

A Participant’s Compensation for a Limitation Year shall not include Compensation in excess of the limitation under Code
Section 401(a)(17) that is in effect for the calendar year in which the Limitation Year begins. 
 The compensation limitation referred
to in (2) shall not apply to an individual medical benefit account (as defined in Code Section 415(1)); or a post-retirement medical benefits account for a key employee (as defined in Code Section 419A(d)(1)). 

If a short Limitation Year is created because of an amendment changing the Limitation Year to a different consecutive 12-month period, the Maximum Annual Addition will not exceed the Defined Contribution Dollar Limitation multiplied by the following fraction: 

Number of months (including any fractional parts of a month) 

in the short Limitation Year 
 12

 If the Plan is terminated as of a date other than the last day of the Limitation Year, the Plan is treated as if the Plan was amended to
change the Limitation Year and create a short Limitation Year ending on the date the Plan is terminated. 
 If a short Limitation Year is
created, the limitation under Code Section 401(a)(17) shall be prorated in the same manner as the Defined Contribution Dollar Limitation. 

Predecessor Employer means, with respect to a Participant, a former employer if the Employer maintains a plan that provides a benefit
which the Participant accrued while performing services for the former employer. Predecessor Employer also means, with respect to a Participant, a former entity that antedates the Employer if, under the facts and circumstances, the Employer
constitutes a continuation of all or a portion of the trade or business of the former entity. 
 Severance from Employment means an
employee has ceased to be an employee of the Employer maintaining the plan. An employee does not have a Severance from Employment if, in connection with a change of employment, the employee’s new employer maintains the plan with respect to the
employee. 
  

	(b)	 If the Participant does not participate in another defined contribution plan, as defined in section 1.415(c)-1(a)(2)(i) of the regulations (without regard to whether the plan(s) have been terminated) maintained by the Employer, the amount of Annual Additions that may be credited to the Participant’s Account
for any Limitation Year shall not exceed the lesser of the Maximum Annual Addition or any other limitation contained in this Plan. If the Employer Contribution that would otherwise be contributed or allocated to the Participant’s Account would
cause the Annual Additions for the Limitation Year to exceed the Maximum Annual Addition, the amount contributed or allocated shall be reduced so that the Annual Additions for the Limitation Year will equal the Maximum Annual Addition.

  

	(c)	 If, in addition to this Plan, the Participant is covered under another defined contribution plan, as defined in
section 1.415(c)-1(a)(2)(i) of the regulations, (without regard to whether the plan(s) have been terminated) maintained by the Employer that provides an Annual Addition during any Limitation

  

					
	Amend No. 4 Effective December 31, 2018	 	40	 	Plan ID No. 993915 (7-7695)

	 	
Year, the Annual Additions that may be credited to a Participant’s Account under this Plan for any such Limitation Year will not exceed the Maximum Annual Addition, reduced by the Annual
Additions credited to a Participant’s account under the other defined contribution plan(s) for the same Limitation Year. If the Annual Additions with respect to the Participant under the other defined contribution plan(s) maintained by the
Employer are less than the Maximum Annual Addition, and the Employer Contribution that would otherwise be contributed or allocated to the Participant’s Account under this Plan would cause the Annual Additions for the Limitation Year to exceed
this limitation, the amount contributed or allocated will be reduced so that the Annual Additions under all such plans and funds for the Limitation Year will equal the Maximum Annual Addition. If the Annual Additions with respect to the Participant
under the other defined contribution plan(s) in the aggregate are equal to or greater than the Maximum Annual Addition, no amount will be contributed or allocated to the Participant’s Account under this Plan for the Limitation Year.

  

	(d)	 The limitation of this section shall be determined and applied taking into account the rules in subparagraph
(e) below. 

  

	(e)	 Other Rules 

  

	 	(1)	 Aggregating Plans. For purposes of applying the limitations of this section for a Limitation Year, all
defined contribution plans (as defined in section 1.415(c)-1(a)(2)(i) of the regulations and without regard to whether the plan(s) have been terminated) ever maintained by the Employer and all defined
contribution plans of a Predecessor Employer (in the Limitation Year in which such Predecessor Employer is created) under which a Participant receives Annual Additions are treated as one defined contribution plan. 

 

	 	(2)	 Break-up of Affiliated Employers. The Annual Additions under a
formerly affiliated plan (as defined in section 1.415(i)-1(b)(2)(ii) of the regulations) of the Employer are taken into account for purposes of applying the limitations of this section for the Limitation Year
in which the cessation of affiliation took place. 

  

	 	(3)	 Previously Unaggregated Plans. The limitations of this section are not exceeded for the first Limitation
Year in which two or more existing plans, which previously were not required to be aggregated pursuant to section 1.415(!) of the regulations, are aggregated, provided that no Annual Additions are credited to a Participant after the date on which
the plans are required to be aggregated if the Annual Additions already credited to the Participant in the existing plans equal or exceed the Maximum Annual Addition. 

 

	 	(4)	 Aggregation with Multiemployer Plan. If the Employer maintains a multiemployer plan, as defined in Code
Section 414(!), and the multiemployer plan so provides, only the Annual Additions under the multiemployer plan that are provided by the Employer shall be treated as Annual Additions provided under a plan maintained by the Employer for purposes
of this section. 

 SECTION 3.08—EXCESS AMOUNTS. 
  

	(a)	 Definitions. For purposes of this section, the following terms are defined: 

ACP means, for a specified group of Participants (either Highly Compensated Employees or Nonhighly Compensated Employees) for a Plan
Year, the average (expressed as a percentage) of the Contribution Percentages of the Eligible Participants in the group. 

  

					
	Amend No. 4 Effective December 31, 2018	 	41	 	Plan ID No. 993915 (7-7695)

 ADP means, for a specified group of Participants (either Highly Compensated Employees
or Nonhighly Compensated Employees) for a Plan Year, the average (expressed as a percentage) of the Deferral Percentages of the Eligible Participants in the group. 

Contribution Percentage means the ratio (expressed as a percentage) of the Eligible Participant’s Contribution Percentage Amounts
to the Eligible Participant’s Compensation (excluding Differential Wage Payments paid on or after January 1, 2009) for the Plan Year (whether or not the Eligible Participant was an Eligible Participant for the entire Plan Year). For an
Eligible Participant for whom such Contribution Percentage Amounts for the Plan Year are zero, the percentage is zero. 
 Contribution
Percentage Amounts means the sum of the Participant Contributions and Matching Contributions (that are not Qualified Matching Contributions taken into account for purposes of the ADP Test) made under the plan on behalf of the Eligible
Participant for the plan year. Contribution Percentage Amounts shall not include Participant Contributions withheld from Differential Wage Payments paid on or after January 1, 2009, and Matching Contributions based on Elective Deferral
Contributions and Participant Contributions withheld from such Differential Wage Payments. For Plan Years beginning on or after January 1, 2006, Matching Contributions cannot be taken into account for a plan year for a Nonhighly Compensated
Employee to the extent they are disproportionate matching contributions as defined in section 1.401(m)-2(a)(5)(ii) of the regulations. Such Contribution Percentage Amounts shall not include Matching
Contributions that are forfeited (i) to correct Excess Aggregate Contributions; (ii) because the contributions to which they relate are Excess Elective Deferrals, Excess Contributions, or Excess Aggregate Contributions; or
(iii) because the contributions to which they relate were returned to the Participant as a Permissible Withdrawal. Under such rules as the Secretary of the Treasury shall prescribe, in determining the Contribution Percentage the Employer may
elect to include Qualified Nonelective Contributions under this Plan that were not used in computing the Deferral Percentage. For Plan Years beginning on or after January 1, 2006, Qualified Nonelective Contributions cannot be taken into account
for a plan year for a Nonhighly Compensated Employee to the extent they are disproportionate contributions as defined in section 1.401(m)-2(a)(6)(v) of the regulations. The Employer may also elect to use
Elective Deferral Contributions in computing the Contribution Percentage so long as the ADP Test is met before the Elective Deferral Contributions are used in the ACP Test and continues to be met following the exclusion of those Elective Deferral
Contributions that are used to meet the ACP Test. 
 Deferral Percentage means the ratio (expressed as a percentage) of Elective
Deferral Contributions (other than Catch-up Contributions, Elective Deferral Contributions returned to the Participant as a Permissible Withdrawal and Elective Deferral Contributions withheld from Differential
Wage Payments) under this Plan on behalf of the Eligible Participant for the Plan Year to the Eligible Participant’s Compensation (excluding Differential Wage Payments) for the Plan Year (whether or not the Eligible Participant was an Eligible
Participant for the entire Plan Year). The Elective Deferral Contributions used to determine the Deferral Percentage shall include Excess Elective Deferrals (other than Excess Elective Deferrals of Nonhighly Compensated Employees that arise solely
from Elective Deferral Contributions made under this Plan or any other plans of the Employer or a Controlled Group member), but shall exclude Elective Deferral Contributions that are used in computing the Contribution Percentage (provided the ADP
Test is satisfied both with and without exclusion of these Elective Deferral Contributions). Under such rules as the Secretary of the Treasury shall prescribe, the Employer may elect to include Qualified Nonelective Contributions and Qualified
Matching Contributions under this Plan in computing the Deferral Percentage. For Plan Years beginning on or after January 1, 2006, Qualified Matching Contributions cannot be taken into account for a Plan Year for a Nonhighly Compensated
Employee to the extent they are disproportionate matching contributions as defined in section 1.401(m)-2(a)(5)(ii) of the regulations. For Plan Years beginning on or after January 1, 2006, Qualified
Nonelective Contributions cannot be taken into account for a Plan Year for a Nonhighly Compensated Employee to the extent they are disproportionate contributions as defined in section 1.401(k)-2(a)(6)(iv) of
the regulations. For an Eligible Participant for whom such contributions on his behalf for the Plan Year are zero, the percentage is zero. 

  

					
	Amend No. 4 Effective December 31, 2018	 	42	 	Plan ID No. 993915 (7-7695)

 Elective Deferral Contributions means any employer contributions made to a plan at
the election of a participant in lieu of cash compensation. With respect to any taxable year, a participant’s Elective Deferral Contributions are the sum of all employer contributions made on behalf of such participant pursuant to an election
to defer under any qualified cash or deferred arrangement (CODA) described in Code Section 401(k), any salary reduction simplified employee pension plan described in Code Section 408(k)(6), any SIMPLE IRA plan described in Code
Section 408(p), any plan described under Code Section 501(c)(18), and any employer contributions made on behalf of a participant for the purchase of an annuity contract under Code Section 403(b) pursuant to a salary reduction
agreement. Elective Deferral Contributions include Pre-tax Elective Deferral Contributions and Roth Elective Deferral Contributions. Elective Deferral Contributions shall not include any deferrals properly
distributed as excess annual additions. 
 Eligible Participant means, for purposes of determining the Deferral Percentage, any
Employee who is otherwise entitled to make Elective Deferral Contributions under the terms of the plan for the plan year. Eligible Participant means, for purposes of determining the Contribution Percentage, any Employee who is eligible (i) to
make a Participant Contribution or an Elective Deferral Contribution (if the Employer takes such contributions into account in the calculation of the Contribution Percentage), or (ii) to receive a Matching Contribution (including forfeitures)
or a Qualified Matching Contribution. If a Participant Contribution is required as a condition of participation in the plan, any Employee who would be a participant in the plan if such Employee made such a contribution shall be treated as an
Eligible Participant on behalf of whom no Participant Contributions are made. 
 Excess Aggregate Contributions means, with respect to
any Plan Year, the excess of: 
  

	 	(1)	 The aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution
Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over 

  

	 	(2)	 The maximum Contribution Percentage Amounts permitted by the ACP Test (determined by hypothetically reducing
contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages). 

Such determination shall be made after first determining Excess Elective Deferrals and then determining Excess Contributions. 

Excess Contributions means, with respect to any Plan Year, the excess of: 

 

	 	(1)	 The aggregate amount of employer contributions actually taken into account in computing the Deferral Percentage
of Highly Compensated Employees for such Plan Year, over 

  

	 	(2)	 The maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing
contributions made on behalf of Highly Compensated Employees in the order of the Deferral Percentages, beginning with the highest of such percentages). 

Excess Elective Deferrals means those Elective Deferral Contributions of a Participant that either (i) are made during the
Participant’s taxable year and exceed the dollar limitation under Code 

  

					
	Amend No. 4 Effective December 31, 2018	 	43	 	Plan ID No. 993915 (7-7695)

 
Section 402(g) or (ii) are made during a calendar year and exceed the dollar limitation under Code Section 402(g) for the Participant’s taxable year beginning in such calendar
year, counting only Elective Deferral Contributions made under this Plan and any other plan, contract, or arrangement maintained by the Employer. If the Plan provides for Catch-up Contributions in such taxable
year, the dollar limitation shall be increased by the dollar limit on Catch-up Contributions under Code Section 414(v). 

Excess Elective Deferrals shall be treated as Annual Additions, as defined in the CONTRIBUTION LIMITATION SECTION of this article, under the
Plan, unless such amounts are distributed no later than the first April 15 following the close of the Participant’s taxable year. 

Matching Contributions means employer contributions made to this or any other defined contribution plan, or to a contract described in
Code Section 403(b), on behalf of a participant on account of a Participant Contribution made by such participant, or on account of a participant’s Elective Deferral Contributions, under a plan maintained by the Employer or a Controlled
Group member. 
 Participant Contributions means contributions (other than Roth Elective Deferral Contributions) made to the plan by
or on behalf of a participant that are included in the participant’s gross income in the year in which made and that are maintained under a separate account to which the earnings and losses are allocated. 

Pre-tax Elective Deferral Contributions means a participant’s Elective Deferral
Contributions that are not includible in the participant’s gross income at the time deferred. 
 Qualified Matching Contributions
means Matching Contributions that are nonforfeitable when made to the plan and that are distributable only in accordance with the distribution provisions applicable to Elective Deferral Contributions, to the extent Qualified Matching
Contributions can be distributed under such distribution provision. 
 Qualified Nonelective Contributions means any employer
contributions (other than Matching Contributions) that an Employee may not elect to have paid to him in cash instead of being contributed to the plan and that are nonforfeitable when made to the plan and that are distributable only in accordance
with the distribution provisions applicable to Elective Deferral Contributions, to the extent Qualified Nonelective Contributions can be distributed under such distribution provision. 

Roth Elective Deferral Contributions means a participant’s Elective Deferral Contributions that are not excludible from the
participant’s gross income at the time deferred and have been irrevocably designated as Roth Elective Deferral Contributions by the participant in his elective deferral agreement. Whether an Elective Deferral Contribution is not excludible from
a participant’s gross income will be determined in accordance with section 1.401(k)-1(f)(2) of the regulations. In the case of a self-employed individual, an Elective Deferral Contribution is not
excludible from gross income only if the individual does not claim a deduction for such amount. 
  

	(b)	 Excess Elective Deferrals. A Participant may assign to this Plan any Excess Elective Deferrals made
during a taxable year of the Participant by notifying the Plan Administrator in writing on or before the first following March 1 of the amount of the Excess Elective Deferrals to be assigned to the Plan. A Participant is deemed to notify the
Plan Administrator of any Excess Elective Deferrals that arise by taking into account only those Elective Deferral Contributions made to this Plan and any other plan, contract, or arrangement of the Employer or a Controlled Group member. The
Participant’s claim for Excess Elective Deferrals shall be accompanied by the Participant’s written 

  

					
	Amend No. 4 Effective December 31, 2018	 	44	 	Plan ID No. 993915 (7-7695)

	 	statement that if such amounts are not distributed, such Excess Elective Deferrals will exceed the limit imposed on the Participant by Code Section 402(g) (including, if applicable, the dollar limitation on Catch-up
Contributions under Code Section 414(v)) for the year in which the deferral occurred. The Excess Elective Deferrals assigned to this Plan cannot exceed the Elective Deferral Contributions allocated under this Plan for such taxable year.

 Notwithstanding any other provisions of the Plan, Elective Deferral Contributions in an amount equal to the Excess Elective
Deferrals assigned to this Plan, plus any income and minus any loss allocable thereto, shall be distributed no later than April 15 to any Participant to whose Account Excess Elective Deferrals were assigned for the preceding year and who claims
Excess Elective Deferrals for such taxable year or calendar year. 
 The Excess Elective Deferrals shall be adjusted for any income or loss.
The income or loss allocable to such Excess Elective Deferrals shall be equal to the income or loss allocable to the Participant’s Elective Deferral Contributions for the taxable year in which the excess occurred multiplied by a fraction. The
numerator of the fraction is the Excess Elective Deferrals. The denominator of the fraction is the closing balance without regard to any income or loss occurring during such taxable year (as of the end of such taxable year) of the Participant’s
Account resulting from Elective Deferral Contributions. 
 For purposes of determining income or loss on Excess Elective Deferrals for
taxable years beginning on or after January 1, 2006, any Excess Elective Deferrals, in addition to any adjustment for income or loss for the taxable year in which the excess occurred, shall be adjusted for income or loss for the gap period
between the end of such taxable year and the date of distribution. Such income or loss allocable to the gap period shall be equal to 10% of the income or loss allocable to the Excess Elective Deferrals for the taxable year multiplied by the number
of complete months (counting a partial month of 16 days or more as a complete month) in the gap period. 
 For purposes of determining income
or loss on Excess Elective Deferrals for taxable years beginning on or after January 1, 2008, no adjustment shall be made for income or loss for the gap period. 

Any Matching Contributions that were based on the Elective Deferral Contributions distributed as Excess Elective Deferrals, plus any income and
minus any loss allocable thereto, shall be forfeited. 
  

	(c)	 ADP Test. As of the end of each Plan Year after Excess Elective Deferrals have been determined, the Plan
must satisfy the ADP Test. The ADP Test shall be satisfied using the prior year testing method or the current year testing method, as elected by the Employer in subparagraph (e) of this section. 

 

	 	(1)	 Prior Year Testing Method. The ADP for a Plan Year for Eligible Participants who are Highly Compensated
Employees for each Plan Year and the prior year’s ADP for Eligible Participants who were Nonhighly Compensated Employees for the prior Plan Year must satisfy one of the following tests: 

 

	 	(i)	 The ADP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year shall
not exceed the prior year’s ADP for Eligible Participants who were Nonhighly Compensated Employees for the prior Plan Year multiplied by 1.25; or 

  

	 	(ii)	 The ADP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year:

  

	 	A.	 shall not exceed the prior year’s ADP for Eligible Participants who were Nonhighly Compensated Employees
for the prior Plan Year multiplied by 2, and 

  

					
	Amend No. 4 Effective December 31, 2018	 	45	 	Plan ID No. 993915 (7-7695)

	 	B.	 the difference between such ADPs is not more than 2. 

If this is not a successor plan, for the first Plan Year the Plan permits any Participant to make Elective Deferral Contributions, for purposes
of the foregoing tests, the prior year’s Nonhighly Compensated Employees’ ADP shall be 3 percent or the Plan Year’s ADP for these Eligible Participants, as elected by the Employer in subparagraph (e) of this section. 

 

	 	(2)	 Current Year Testing Method. The ADP for a Plan Year for Eligible Participants who are Highly
Compensated Employees for each Plan Year and the ADP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year must satisfy one of the following tests: 

 

	 	(i)	 The ADP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year shall
not exceed the ADP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 1.25; or 

  

	 	(ii)	 The ADP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year:

  

	 	A.	 shall not exceed the ADP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year
multiplied by 2, and 

  

	 	B.	 the difference between such ADPs is not more than 2. 

If the Employer has elected to use the current year testing method, that election cannot be changed unless (i) the Plan has been using the
current year testing method for the preceding five Plan Years, or if less, the number of Plan Years the Plan has been in existence; or (ii) if as a result of a merger or acquisition described in Code Section 410(b)(6)(C)(i), the Employer
maintains both a plan using the prior year testing method and a plan using the current year testing method and the change is made within the transition period described in Code Section 410(b)(6)(C)(ii). 

A Participant is a Highly Compensated Employee for a particular Plan Year if he meets the definition of a Highly Compensated Employee in effect
for that Plan Year. Similarly, a Participant is a Nonhighly Compensated Employee for a particular Plan Year if he does not meet the definition of a Highly Compensated Employee in effect for that Plan Year. 

The Deferral Percentage for any Eligible Participant who is a Highly Compensated Employee for the Plan Year and who is eligible to have
Elective Deferral Contributions (and Qualified Nonelective Contributions or Qualified Matching Contributions, or both, if treated as Elective Deferral Contributions for purposes of the ADP Test) allocated to his account under two or more
arrangements described in Code Section 401(k) that are maintained by the Employer or a Controlled Group member shall be determined as if such Elective Deferral Contributions (and, if applicable, such Qualified Nonelective Contributions or
Qualified Matching Contributions, or both) were made under a single arrangement. If a Highly Compensated Employee participates in two or more cash or deferred arrangements of the Employer or of a Controlled Group member that have different plan

  

					
	Amend No. 4 Effective December 31, 2018	 	46	 	Plan ID No. 993915 (7-7695)

 years, all Elective Deferral Contributions made during the Plan Year shall be aggregated.
For Plan Years beginning before 2006, all such cash or deferred arrangements ending with or within the same calendar year shall be treated as a single arrangement. The foregoing notwithstanding, certain plans shall be treated as separate if
mandatorily disaggregated under the regulations of Code Section 401(k). 
 In the event this Plan satisfies the requirements of Code
Section 401(k), 401(a)(4), or 410(b) only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Code sections only if aggregated with this Plan, then this section shall be applied by
determining the Deferral Percentage of Employees as if all such plans were a single plan. If more than 10 percent of the Employer’s Nonhighly Compensated Employees are involved in a plan coverage change as defined in section 1.401(k)-2(c)(4) of the regulations, then any adjustments to the Nonhighly Compensated Employee ADP for the prior year shall be made in accordance with such regulations if the Employer has elected to use the prior
year testing method. Plans may be aggregated in order to satisfy Code Section 401(k) only if they have the same plan year and use the same testing method for the ADP Test. 

For purposes of the ADP Test, Elective Deferral Contributions, Qualified Nonelective Contributions, and Qualified Matching Contributions must
be made before the end of the 12-month period immediately following the Plan Year to which the contributions relate. 

If the Plan Administrator should determine during the Plan Year that the ADP Test is not being met, the Plan Administrator may limit the amount
of future Elective Deferral Contributions of the Highly Compensated Employees. 
 Notwithstanding any other provisions of this Plan, Excess
Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than 12 months after the last day of a Plan Year to Participants to whose Accounts such Excess Contributions were allocated for such Plan Year, except
to the extent such Excess Contributions are classified as Catch-up Contributions. Excess Contributions are allocated to the Highly Compensated Employees with the largest amounts of employer contributions taken
into account in calculating the ADP Test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such employer contributions and continuing in descending order until all of the Excess
Contributions have been allocated. If a Highly Compensated Employee participates in two or more cash or deferred arrangements of the Employer or of a Controlled Group member, the amount distributed shall not exceed the amount of the employer
contributions taken into account in calculating the ADP Test and made to this Plan for the year in which the excess arose. If Catch-up Contributions are allowed for the Plan Year being tested, to the extent a
Highly Compensated Employee has not reached his Catch-up Contribution limit under the Plan for such year, Excess Contributions allocated to such Highly Compensated Employee are
Catch-up Contributions and will not be treated as Excess Contributions. If such excess amounts (other than Catch-up Contributions) are distributed more than 2 1/2 months
after the last day of the Plan Year in which such excess amounts arose, a 10 percent excise tax shall be imposed on the employer maintaining the plan with respect to such amounts. 

Excess Contributions shall be treated as Annual Additions, as defined in the CONTRIBUTION LIMITATION SECTION of this article, even if
distributed. 
 The Excess Contributions shall be adjusted for any income or loss. The income or loss allocable to such Excess Contributions
allocated to each Participant shall be equal to the income or loss allocable to the Participant’s Elective Deferral Contributions (and, if applicable, Qualified Nonelective Contributions or Qualified Matching Contributions, or both) for the
Plan Year in which the excess 

  

					
	Amend No. 4 Effective December 31, 2018	 	47	 	Plan ID No. 993915 (7-7695)

 
occurred multiplied by a fraction. The numerator of the fraction is the Excess Contributions. The denominator of the fraction is the closing balance without regard to any income or loss occurring
during such Plan Year (as of the end of such Plan Year) of the Participant’s Account resulting from Elective Deferral Contributions (and Qualified Nonelective Contributions or Qualified Matching Contributions, or both, if such contributions are
included in the ADP Test). 
 For purposes of determining income or loss on Excess Contributions beginning with the 2006 Plan Year, any
Excess Contributions, in addition to any adjustment for income or loss for the Plan Year in which the excess occurred, shall be adjusted for income or loss for the gap period between the end of such Plan Year and the date of distribution. Such
income or loss allocable to the gap period shall be equal to 10% of the income or loss allocable to the Excess Contributions for the Plan Year multiplied by the number of complete months (counting a partial month of 16 days or more as a complete
month) in the gap period. 
 For purposes of determining income or loss on Excess Contributions for Plan Years beginning on or after
January 1, 2008, no adjustment shall be made for income or loss for the gap period. 
 Excess Contributions allocated to a Participant
shall be distributed from the Participant’s Account resulting from Elective Deferral Contributions. If such Excess Contributions exceed the amount of Excess Contributions in the Participant’s Account resulting from Elective Deferral
Contributions, the balance shall be distributed from the Participant’s Account resulting from Qualified Matching Contributions (if applicable) and Qualified Nonelective Contributions, respectively. 

Any Matching Contributions that were based on the Elective Deferral Contributions distributed as Excess Contributions, plus any income and
minus any loss allocable thereto, shall be forfeited. 
  

	(d)	 ACP Test. As of the end of each Plan Year, the Plan must satisfy the ACP Test. The ACP Test shall be
satisfied using the prior year testing method or the current year testing method, as elected by the Employer in subparagraph (e) of this section. 

  

	 	(1)	 Prior Year Testing Method. The ACP for a Plan Year for Eligible Participants who are Highly Compensated
Employees for each Plan Year and the prior year’s ACP for Eligible Participants who were Nonhighly Compensated Employees for the prior Plan Year must satisfy one of the following tests: 

 

	 	(i)	 The ACP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year shall
not exceed the prior year’s ACP for Eligible Participants who were Nonhighly Compensated Employees for the prior Plan Year multiplied by 1.25; or 

  

	 	(ii)	 The ACP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year:

  

	 	A.	 shall not exceed the prior year’s ACP for Eligible Participants who were Nonhighly Compensated Employees
for the prior Plan Year multiplied by 2, and 

  

	 	B.	 the difference between such ACPs is not more than 2. 

  

					
	Amend No. 4 Effective December 31, 2018	 	48	 	Plan ID No. 993915 (7-7695)

 If this is not a successor plan, for the first Plan Year the Plan permits any Participant to
make Participant Contributions, provides for Matching Contributions, or both, for purposes of the foregoing tests, the prior year’s Nonhighly Compensated Employees’ ACP shall be 3 percent or the Plan Year’s ACP for these Eligible
Participants, as elected by the Employer in subparagraph (e) of this section. 
  

	 	(2)	 Current Year Testing Method. The ACP for a Plan Year for Eligible Participants who are Highly
Compensated Employees for each Plan Year and the ACP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year must satisfy one of the following tests: · 

 

	 	(i)	 The ACP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year shall
not exceed the ACP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 1.25; or 

  

	 	(ii)	 The ACP for a Plan Year for Eligible Participants who are Highly Compensated Employees for the Plan Year:

  

	 	A.	 shall not exceed the ACP for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year
multiplied by 2, and 

  

	 	B.	 the difference between such ACPs is not more than 2. 

If the Employer has elected to use the current year testing method, that election cannot be changed unless (i) the Plan has been using the
current year testing method for the preceding five Plan Years, or if less, the number of Plan Years the Plan has been in existence; or (ii) if as a result of a merger or acquisition described in Code Section 410(b)(6)(C)(i), the Employer
maintains both a plan using the prior year testing method and a plan using the current year testing method and the change is made within the transition period described in Code Section 410(b)(6)(C)(ii). 

A Participant is a Highly Compensated Employee for a particular Plan Year if he meets the definition of a Highly Compensated Employee in effect
for that Plan Year. Similarly, a Participant is a Nonhighly Compensated Employee for a particular Plan Year if he does not meet the definition of a Highly Compensated Employee in effect for that Plan Year. 

The Contribution Percentage for any Eligible Participant who is a Highly Compensated Employee for the Plan Year and who is eligible to have
Contribution Percentage Amounts allocated to his account under two or more plans described in Code Section 401(a) or arrangements described in Code Section 401(k) that are maintained by the Employer or a Controlled Group member shall be
determined as if the total of such Contribution Percentage Amounts was made under each plan and arrangement. If a Highly Compensated Employee participates in two or more such plans or arrangements that have different plan years, all Contribution
Percentage Amounts made during the Plan Year shall be aggregated. For Plan Years beginning before 2006, all such plans and arrangements ending with or within the same calendar year shall be treated as a single plan or arrangement. The foregoing
notwithstanding, certain plans shall be treated as separate if mandatorily disaggregated under the regulations of Code Section 401(m). 

In the event this Plan satisfies the requirements of Code Section 401(m), 401(a)(4), or 410(b) only if aggregated with one or more other
plans, or if one or more other plans satisfy the requirements of such Code sections only if aggregated with this Plan, then this section shall be applied by 

  

					
	Amend No. 4 Effective December 31, 2018	 	49	 	Plan ID No. 993915 (7-7695)

 
determining the Contribution Percentage of Employees as if all such plans were a single plan. If more than 10 percent of the Employer’s Nonhighly Compensated Employees are involved in a
plan coverage change as defined in section 1.401(m)-2(c)(4) of the regulations, then any adjustments to the Nonhighly Compensated Employee ACP for the prior year shall be made in accordance with such
regulations if the Employer has elected to use the prior year testing method. Plans may be aggregated in order to satisfy Code Section 401(m) only if they have the same plan year and use the same testing method for the ACP Test. 

For purposes of the ACP Test, Participant Contributions are considered to have been made in the Plan Year in which contributed to the Plan.
Matching Contributions and Qualified Nonelective Contributions will be considered to have been made for a Plan Year if made no later than the end of the 12-month period beginning on the day after the close of
the Plan Year. 
 Notwithstanding any other provisions of this Plan, Excess Aggregate Contributions, plus any income and minus any loss
allocable thereto, shall be forfeited, if not vested, or distributed, if vested, no later than 12 months after the last day of a Plan Year to Participants to whose Accounts such Excess Aggregate Contributions were allocated for such Plan Year.
Excess Aggregate Contributions are allocated to the Highly Compensated Employees with the largest Contribution Percentage Amounts taken into account in calculating the ACP Test for the year in which the excess arose, beginning with the Highly
Compensated Employee with the largest amount of such Contribution Percentage Amounts and continuing in descending order until all of the Excess Aggregate Contributions have been allocated. If a Highly Compensated Employee participates in two or more
plans or arrangements of the Employer or of a Controlled Group member that include Contribution Percentage Amounts, the amount distributed shall not exceed the Contribution Percentage Amounts taken into account in calculating the ACP Test and made
to this Plan for the year in which the excess arose. If such Excess Aggregate Contributions are distributed more than 2 1/2 months after the last day of the Plan Year in which such excess amounts arose, a 10 percent excise tax shall be imposed
on the employer maintaining the plan with respect to such amounts. 
 Excess Aggregate Contributions shall be treated as Annual Additions, as
defined in the CONTRIBUTION LIMITATION SECTION of this article, even if distributed. 
 The Excess Aggregate Contributions shall be adjusted
for any income or loss. The income or loss allocable to such Excess Aggregate Contributions allocated to each Participant shall be equal to the income or loss allocable to the Participant’s Contribution Percentage Amounts for the Plan Year in
which the excess occurred multiplied by a fraction. The numerator of the fraction is the Excess Aggregate Contributions. The denominator of the fraction is the closing balance without regard to any income or loss occurring during such Plan Year (as
of the end of such Plan Year) of the Participant’s Account resulting from Contribution Percentage Amounts. 
 For purposes of
determining income or loss on Excess Aggregate Contributions beginning with the 2006 Plan Year, any Excess Aggregate Contributions, in addition to any adjustment for income or loss for the Plan Year in which the excess occurred, shall be adjusted
for income or loss for the gap period between the end of such Plan Year and the date of distribution. Such income or loss allocable to the gap period shall be equal to 10% of the income or loss allocable to the Excess Aggregate Contributions for the
Plan Year multiplied by the number of complete months (counting a partial month of 16 days or more as a complete month) in the gap period. 

For purposes of determining income or loss on Excess Aggregate Contributions for Plan Years beginning on or after January 1, 2008, no
adjustment shall be made for income or loss for the gap period. 

  

					
	Amend No. 4 Effective December 31, 2018	 	50	 	Plan ID No. 993915 (7-7695)

 Excess Aggregate Contributions allocated to a Participant shall be distributed from the
Participant’s Account resulting from Participant Contributions that are not required as a condition of employment or participation or for obtaining additional benefits from Employer Contributions. If such Excess Aggregate Contributions exceed
the balance in the Participant’s Account resulting from such Participant Contributions, the balance shall be forfeited, if not vested, or distributed, if vested, on a pro rata basis from the Participant’s Account resulting from
Contribution Percentage Amounts. 
  

	(e)	 Employer Elections. The Employer has made an election to use the current year testing method.

 SECTION 3.09—401(k) SAFE HARBOR PROVISIONS. 

Section 3.09 does not apply to the Plan. 
 SECTION
3.10—ELIGIBLE AUTOMATIC CONTRIBUTION ARRANGEMENT (EACA) PROVISIONS. 
 Section 3.10 does not apply to the Plan. 

SECTION 3.11—QUALIFIED AUTOMATIC CONTRIBUTION ARRANGEMENT (QACA) SAFE HARBOR PROVISIONS. 

Section 3.11 does not apply to the Plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	51	 	Plan ID No. 993915 (7-7695)

 ARTICLE IV 

INVESTMENT OF CONTRIBUTIONS 
 SECTION
4.01—INVESTMENT AND TIMING OF CONTRIBUTIONS. 
 The handling of Contributions and Plan assets is governed by the provisions of the Trust Agreement
and any other relevant document, such as an Annuity Contract (for the purposes of this paragraph alone, the Trust Agreement and such other documents will each be referred to as a “document” or collectively as the “documents”),
duly entered into by or with regard to the Plan that govern such matters. To the extent permitted by the documents, the parties named below shall direct the Contributions for investment in any of the investment options available to the Plan under or
through the documents, and may request the transfer of amounts resulting from those Contributions between such investment options. 
 A Participant may not
direct the investment of all or any portion of his Account in collectibles. Collectibles mean any work of art, rug or antique, metal or gem, stamp or coin, alcoholic beverage, or other tangible personal property specified by the Secretary of the
Treasury. However, for tax years beginning after December 31, 1997, certain coins and bullion as provided in Code Section 408(m)(3) shall not be considered collectibles. 

If a Participant has provided investment direction for all or certain specific Contributions made to his Account, such Contributions shall be invested in
accordance with such direction to the extent possible. If an investment option selected by the Participant in that investment direction is no longer available and a new investment option is not selected by the Participant (in lieu of the one that is
no longer available) by the deadline set by a fiduciary of the Plan (or by the date the investment option is no longer available), all amounts currently held in the investment option that is no longer available and future Contributions directed to
such investment option by the Participant (and made after such deadline or date) shall be invested in the appropriate default investment option, unless otherwise directed by a fiduciary of the Plan. 

If an investment option selected by the Participant is no longer available for future Contributions only and a new investment option is not selected by the
Participant (in lieu of the one that is no longer available) by the deadline set by a fiduciary of the Plan (or by the date the investment option is no longer available), all future Contributions directed to such investment option that is not
available for future Contributions (and made after such deadline or date) shall be invested in the appropriate default investment option, unless otherwise directed by a fiduciary of the Plan. 

To the extent that a Participant who has the ability to provide investment direction (either on an ongoing basis or in response to a notice from a fiduciary
of the Plan) fails to give timely investment direction, the amount in the Participant’s Account for which no investment direction is received shall be invested in the appropriate default investment option, unless otherwise directed by a
fiduciary of the Plan. 
 If the Primary Employer has investment direction, the Contributions shall be invested in accordance with such direction. The
Employer shall have investment direction for amounts that have not been allocated to Participants. To the extent an investment option is no longer available, a fiduciary of the Plan may require that amounts currently held in such investment option
be reinvested in other investment options. To the extent that the Employer has not given investment direction, and no Plan fiduciary gives direction regarding the reinvestment of such amounts, the amounts held in an investment option that is no
longer available or which had been directed to be invested in an investment option that is not available for future Contributions shall be invested in the appropriate default investment option. 

  

					
	Amend No. 4 Effective December 31, 2018	 	52	 	Plan ID No. 993915 (7-7695)

 Default investment options are defined in documents duly entered into by or with regard to the Plan that
govern such matters. 
 At least annually, the Named Fiduciary shall review all pertinent Employee information and Plan data in order to establish the
funding policy of the Plan and to determine appropriate methods of carrying out the Plan’s objectives. The Named Fiduciary shall inform the Trustee and any Investment Manager of the Plan’s short-term and long-term financial needs so the
investment policy can be coordinated with the Plan’s financial requirements. 
 The Participant shall direct the investment of all Contributions and
the transfer of amounts resulting from those Contributions. 
 However, the Named Fiduciary may delegate to the Investment Manager investment direction for
Contributions and amounts that are not subject to Participant direction. 
 All Contributions are forwarded by the Employer to (i) the Trustee to be
deposited in the Trust Fund or otherwise invested by the Trustee in accordance with the relevant documents; or (ii) the Insurer to be deposited under the Annuity Contract, as applicable. 

SECTION 4.02—INVESTMENT IN QUALIFYING EMPLOYER SECURITIES. 

Effective May 1, 2017, all or some portion of the Participant’s Account may be invested in Qualifying Employer Securities. 

If the Participant has investment control, once an investment in the Qualifying Employer Securities Fund is made available to Participants, it shall continue
to be available unless the Plan is amended to disallow such available investment. In the absence of an election to invest in Qualifying Employer Securities, Participants shall be deemed to have elected to have their Accounts invested wholly in other
investment options of the Investment Fund. Once an election is made, it shall be considered to continue until a new election is made. 
 For purposes of
determining the annual valuation of the Plan, and for reporting to Participants and regulatory authorities, the assets of the Plan shall be valued at least annually on the Valuation Date which corresponds to the last day of the Plan Year. The fair
market value of Qualifying Employer Securities shall be determined on such Valuation Date. The prices of Qualifying Employer Securities as of the date of the transaction shall apply for purposes of valuing distributions and other transactions of the
Plan to the extent such value is representative of the fair market value of such securities in the opinion of the Plan Administrator. The value of a Participant’s Account held in the Qualifying Employer Securities Fund may be expressed in
units. 
 If the Qualifying Employer Securities are not publicly traded, or if an extremely thin market exists for such securities so that reasonable
valuation may not be obtained from the market place, then such securities must be valued at least annually by an independent appraiser who is not associated with the Employer, the Plan Administrator, the Trustee, or any person related to any
fiduciary under the Plan. The independent appraiser may be associated with a person who is merely a contract administrator with respect to the Plan, but who exercises no discretionary authority and is not a plan fiduciary. 

If there is a public market for Qualifying Employer Securities of the type held by the Plan, then the Plan Administrator may use as the value of the
securities the price at which such securities trade in such market. If the Qualifying Employer Securities do not trade on the relevant date, or if the market is very thin on such date, then the Plan Administrator may use for the valuation the next
preceding trading day on which the trading prices are representative of the fair market value of such securities in the opinion of the Plan Administrator. 

  

					
	Amend No. 4 Effective December 31, 2018	 	53	 	Plan ID No. 993915 (7-7695)

 Cash dividends payable on the Qualifying Employer Securities shall be reinvested in additional shares of
such securities. In the event of any cash or stock dividend or any stock split, such dividend or split shall be credited to the Accounts based on the number of shares of Qualifying Employer Securities credited to each Account as of the payable date
of such dividend or split. 
 All purchases of Qualifying Employer Securities shall be made at a price, or prices, which, in the judgment of the Plan
Administrator, do not exceed the fair market value of such securities. 
 In the event that the Trustee acquires Qualifying Employer Securities by purchase
from a “disqualified person” as defined in Code Section 4975(e)(2) or from a “party-in-interest” as defined in ERISA Section 3(14), the
terms of such purchase shall contain the provision that in the event there is a final determination by the Internal Revenue Service, the Department of Labor, or court of competent jurisdiction that the fair market value of such securities as of the
date of purchase was less than the purchase price paid by the Trustee, then the seller shall pay or transfer, as the case may be, to the Trustee an amount of cash or shares of Qualifying Employer Securities equal in value to the difference between
the purchase price and such fair market value for all such shares. In the event that cash or shares of Qualifying Employer Securities are paid or transferred to the Trustee under this provision, such securities shall be valued at their fair market
value as of the date of such purchase, and interest at a reasonable rate from the date of purchase to the date of payment or transfer shall be paid by the seller on the amount of cash paid. 

The Plan Administrator may direct the Trustee to sell, resell, or otherwise dispose of Qualifying Employer Securities to any person, including the Employer,
provided that any such sales to any disqualified person or party-in-interest, including the Employer, will be made at not less than the fair market value and no
commission will be charged. Any such sale shall be made in conformance with ERISA Section 408(e). 
 The Employer is responsible for compliance with
any applicable Federal or state securities Jaw with respect to all aspects of the Plan. If the Qualifying Employer Securities or interest in this Plan are required to be registered in order to permit investment in the Qualifying Employer Securities
Fund as provided in this section, then such investment will not be effective until the later of the effective date of the Plan or the date such registration or qualification is effective. The Employer, at its own expense, will take or cause to be
taken any and all such actions as may be necessary or appropriate to effect such registration or qualification. Further, if the Trustee is directed to dispose of any Qualifying Employer Securities held under the Plan under circumstances which
require registration or qualification of the securities under applicable Federal or state securities Jaws, then the Employer will, at its own expense, take or cause to be taken any and all such action as may be necessary or appropriate to effect
such registration or qualification. The Employer is responsible for all compliance requirements under Section 16 of the Securities Act. 

Diversification Requirements. 
 The diversification
requirements below apply for Plan Years beginning on or after January 1, 2007. 
 An applicable individual (as defined in section 1.401(a)(35)-1(b) of the regulations) is permitted to elect to direct any publicly traded qualifying employer securities (as defined in Code Section 401(a)(35)(G)(v)) held in his Account under the Plan to be
reinvested in other investment options offered under the Plan with respect to the portion of his Account that is subject to Code Section 401(a)(35)(B) or (C). The Employer may permit diversification of amounts invested in qualifying employer
securities earlier than required as Jong as the earlier time period is applied consistently to all applicable individuals. 

  

					
	Amend No. 4 Effective December 31, 2018	 	54	 	Plan ID No. 993915 (7-7695)

 The Plan shall offer at least three investment options, other than Qualifying Employer Securities, to which
the applicable individual may direct all or any portion of his Account invested in Qualifying Employer Securities, and each investment option must be diversified and have materially different risk and return characteristics that satisfy the
requirements of section 2550.404c-1(b)(3) of the Department of Labor regulations. The Plan may limit the time for divestment and reinvestment to periodic, reasonable opportunities occurring no less frequently
than quarterly. The Plan may not impose any restrictions or conditions with respect to the investment of Qualifying Employer Securities that are not imposed on the investment options offered under the Plan, except as provided in section 1.401(a)(35)-1(e) of the regulations. 
 For Qualifying Employer Securities held under the Plan in a Plan Year beginning
before January 1, 2007, the diversification rights described above shall only apply to the applicable percentage of the number of shares of those securities as stated below: 

 

	(a)	 The applicable percentage is 33% for the first Plan Year to which Code Section 401(a)(35) applies.

  

	(b)	 The applicable percentage is 66% for the second Plan Year to which Code Section 401(a)(35) applies.

  

	(c)	 The applicable percentage is 100% for all subsequent Plan Years. 

If there is more than one class of securities held under the Plan, the transition rule above shall apply separately with respect to each class. The transition
rule above does not apply to Participants who are age 55 or older and have completed at least three years of service (as defined in section 1.401(a)(35)-1(c)(3) of the regulations) prior to the first day of
the first Plan Year beginning after December 31, 2005. 
 A notice must be provided to each applicable individual that describes the divestiture rights
and the importance of diversifying the investment of retirement plan assets. The Employer shall provide the notice to all applicable individuals no later than 30 days before the date on which the applicable individuals are eligible to exercise their
right to diversify. 
 Voting and Tender Rights. 

Voting rights with respect to Qualifying Employer Securities will be passed through to Participants. Participants will be allowed to direct the voting rights
of Qualifying Employer Securities for any matter put to the vote of shareholders. Before each meeting of shareholders, the Employer shall cause to be sent to each person with power to control such voting rights a copy of any notice and any other
information provided to shareholders and, if applicable, a form for instructing the Trustee how to vote at such meeting (or any adjournment thereof) the number of full and fractional shares subject to such person’s voting control. The Trustee
may establish a deadline in advance of the meeting by which such forms must be received in order to be effective. 
 Each Participant shall be entitled to
one vote for each share credited to his Account. 
 If some or all of the Participants have not directed or have not timely directed the Trustee on how to
vote, then the Trustee shall vote such Qualifying Employer Securities in the same proportion as those shares of Qualifying Employer Securities for which the Trustee has received proper direction for such matter. 

The Trustee shall hold the Participant’s individual directions with respect to voting rights in confidence and, except as required by law, shall not
divulge or release such individual directions to anyone associated with the Employer. The Employer may require verification of the Trustee’s compliance with the directions received from Participants by any independent auditor selected by the
Employer, provided that such auditor agrees to maintain the confidentiality of such individual directions. 

  

					
	Amend No. 4 Effective December 31, 2018	 	55	 	Plan ID No. 993915 (7-7695)

 The Employer may develop procedures to facilitate the exercise of votes, such as the use of facsimile
transmissions for the Participants located in physically remote areas. 
 Tender rights or exchange offers for Qualifying Employer Securities will be passed
through to Participants. As soon as practicable after the commencement of a tender or exchange offer for Qualifying Employer Securities, the Employer shall cause each person with power to control the response to such tender or exchange offer to be
advised in writing the terms of the offer and, if applicable, to be provided with a form for instructing the Trustee, or for revoking such instruction, to tender or exchange shares of Qualifying Employer Securities, to the extent permitted under the
terms of such offer. In advising such persons of the terms of the offer, the Employer may include statements from the board of directors setting forth its position with respect to the offer. 

If some or all of the Participants have not directed or have not timely directed the Trustee on how to tender, then the Trustee shall tender such Qualifying
Employer Securities in the same proportion as those shares of Qualifying Employer Securities for which the Trustee has received proper direction for such matter. 

If the tender or exchange offer is limited so that all of the shares that the Trustee has been directed to tender or exchange cannot be sold or exchanged, the
shares that each Participant directed to be tendered or exchanged shall be deemed to have been sold or exchanged in the same ratio that the number of shares actually sold or exchanged bears to the total number of shares that the Trustee was directed
to tender or exchange. 
 The Trustee shall hold the Participant’s individual directions with respect to tender decisions in confidence and, except as
required by law, shall not divulge or release such individual directions to anyone associated with the Employer. The Employer may require verification of the Trustee’s compliance with the directions received from Participants by any independent
auditor selected by the Employer, provided that such auditor agrees to maintain the confidentiality of such individual directions. 
 The Employer may
develop procedures to facilitate the exercise of tender rights, such as the use of facsimile transmissions for the Participants located in physically remote areas. 

SECTION 4.03—VOTING AND TENDER OF SELF-DIRECTED BROKERAGE ACCOUNTS. 

Section 4.03 does not apply to the Plan. 
 SECTION
4.04—LIFE INSURANCE. 
 Section 4.04 does not apply to the Plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	56	 	Plan ID No. 993915 (7-7695)

 ARTICLE V 

BENEFITS 
 SECTION 5.01—RETIREMENT
BENEFITS. 
 On a Participant’s Retirement Date, his Vested Account shall be distributed to him according to the distribution of benefits provisions
of Article VI and the provisions of the SMALL AMOUNTS SECTION of Article X. 
 SECTION 5.02—DEATH BENEFITS. 

If a Participant dies before his Annuity Starting Date, his Vested Account shall be distributed according to the distribution of benefits provisions of Article
VI and the provisions of the SMALL AMOUNTS SECTION of Article X. 
 SECTION 5.03—VESTED BENEFITS. 

If an Inactive Participant’s Vested Account is not payable under the SMALL AMOUNTS SECTION of Article X, he may elect, but is not required, to receive a
distribution of any part of his Vested Account after he has a Severance from Employment. A distribution under this paragraph shall be a retirement benefit and shall be distributed to the Participant according to the distribution of benefits
provisions of Article VI. 
 A Participant may not elect to receive a distribution under the provisions of this section after he again becomes an Employee
until he subsequently has a Severance from Employment and meets the requirements of this section. 
 A Participant who has been performing Qualified
Military Service for a period of more than 30 days is deemed to have had a severance from employment (as described in Code Section 414(u)(12)(B)(i)) for purposes of requesting a distribution of his Vested Account resulting from Elective
Deferral Contributions. The Plan will suspend Elective Deferral Contributions and Participant Contributions for six months after receipt of the distribution. 

If an Inactive Participant does not receive an earlier distribution, upon his Retirement Date or death, his Vested Account shall be distributed according to
the provisions of the RETIREMENT BENEFITS SECTION or the DEATH BENEFITS SECTION of this article. 
 The Nonvested Account of an Inactive Participant who has
had a Severance from Employment shall remain a part of his Account until it becomes a Forfeiture. However, if he again becomes an Employee so that his Vesting Percentage can increase, the Nonvested Account may become a part of his Vested Account.

 SECTION 5.04—WHEN BENEFITS START. 
  

	(a)	 Unless otherwise elected, benefits shall begin no later than the 60th day following the close of the Plan Year
in which the latest date below occurs: 

  

	 	(1)	 The date the Participant attains age 65 (or Normal Retirement Age, if earlier). 

  

					
	Amend No. 4 Effective December 31, 2018	 	57	 	Plan ID No. 993915 (7-7695)

	 	(2)	 The 10th anniversary of the Participant’s earliest Entry Date. 

 

	 	(3)	 The date the Participant terminates service with the Employer. 

Notwithstanding the foregoing, the failure of a Participant to consent to a distribution while a benefit is immediately distributable, within
the meaning of the ELECTION PROCEDURES SECTION of Article VI, shall be deemed to be an election to defer the start of benefits sufficient to satisfy this section. 

The Participant may elect to have benefits begin after the latest date for beginning benefits described above, subject to the following
provisions of this section. The Participant shall make the election in writing. Such election must be made before his Normal Retirement Date or the date he has a Severance from Employment, if later. The Participant shall not elect a date for
beginning benefits or a form of distribution that would result in a benefit payable when he dies which would be more than incidental within the meaning of governmental regulations. 

Benefits shall begin on an earlier date if otherwise provided in the Plan. For example, the Participant’s Retirement Date or Required
Beginning Date, as defined in the DEFINITIONS SECTION of Article VII. 
  

	(b)	 The Participant’s Vested Account resulting from Elective Deferral Contributions, Qualified Nonelective
Contributions, Qualified Matching Contributions, QACA Matching Contributions, and QACA Nonelective Contributions may not be distributed earlier than Severance from Employment, death, or disability. However, such amount may be distributed upon:

  

	 	(1)	 Termination of the Plan as permitted in Article VIII. 

 

	 	(2)	 The attainment of age 59 1/2 if such distribution is permitted in the WITHDRAWAL BENEFITS SECTION of this
article. 

  

	 	(3)	 The attainment of Normal Retirement Age, provided such age is at least age 59 1/2 and such distribution is
permitted in the definition of Normal Retirement Date in the DEFINITIONS SECTION of Article I. 

  

	 	(4)	 A federally declared disaster, where resulting legislation authorizes such a distribution.

 The Participant’s Vested Account resulting from Elective Deferral Contributions may also be distributed: 

 

	 	(5)	 As a hardship withdrawal, if such distribution is permitted in the WITHDRAWAL BENEFITS SECTION of this article.

  

	 	(6)	 As a Qualified Reservist Distribution, if such distribution is permitted in the WITHDRAWAL BENEFITS SECTION of
this article. 

  

	 	(7)	 If the Participant is deemed to have had a severance from employment as described in Code
Section 414(u)(12)(B)(i), if such distribution is permitted in the VESTED BENEFITS SECTION of this article. 

  

					
	Amend No. 4 Effective December 31, 2018	 	58	 	Plan ID No. 993915 (7-7695)

 All distributions that may be made pursuant to one or more of the foregoing distributable
events will be a retirement benefit and shall be distributed to the Participant according to the distribution of benefits provisions of Article VI. In addition, distributions that are triggered by the termination of the Plan must be made in a lump
sum. A lump sum shall include a distribution of an annuity contract. 
 SECTION 5.05—WITHDRAWAL BENEFITS. 

A request for withdrawal shall be made in such manner and in accordance with such rules as the Employer shall prescribe for this purpose (including by means of
voice response or other electronic means under circumstances the Employer permits). Withdrawals shall be a retirement benefit and shall be distributed to the Participant according to the distribution of benefits provisions of Article VI. A
forfeiture shall not occur solely as a result of a withdrawal. 
 Withdrawal of Rollover Contributions. A Participant may withdraw any part of his
Vested Account resulting from Rollover Contributions. A Participant may make such a withdrawal at any time. 
 Withdrawal after Age 59 1/2. A
Participant who has attained age 59 1/2 may withdraw any part of his Vested Account resulting from the following Contributions: 
 Elective
Deferral Contributions 
 Matching Contributions 

Qualified Nonelective Contributions 

Additional Contributions 

Discretionary Contributions 

Voluntary Contributions 
 A Participant may make
such a withdrawal at any time. 
 Financial Hardship Withdrawal. A Participant may withdraw any part of his Vested Account resulting from Elective
Deferral Contributions in the event of hardship due to an immediate and heavy financial need. Withdrawals from the Participant’s Account resulting from Elective Deferral Contributions shall be limited to the amount of the Participant’s
Elective Deferral Contributions plus income allocable thereto credited to his Account as of December 31, 1988. 
 A Participant may also withdraw any
part of his Vested Account resulting from any of the following Contributions: 
 Matching Contributions (other than Qualified Matching
Contributions and QACA Matching Contributions) 
 Additional Contributions 

Discretionary Contributions 

Voluntary Contributions 
 Immediate and heavy
financial need shall be limited to: (i) expenses incurred or necessary for medical care that would be deductible under Code Section 213(a) (determined without regard to whether the expenses exceed the stated limit on adjusted gross
income); (ii) the purchase (excluding mortgage payments) of a principal residence for the Participant; (iii) payment of tuition, related educational fees, and room and board expenses, for up to the next 12 months of post-secondary education for
the Participant, his spouse, children, or dependents (as defined in Code Section 152 without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)); (iv) payments necessary to prevent the eviction of the Participant from, or foreclosure on
the mortgage of, the Participant’s principal residence; (v) payments for funeral or burial expenses for the 

  

					
	Amend No. 4 Effective December 31, 2018	 	59	 	Plan ID No. 993915 (7-7695)

 
Participant’s deceased parent, spouse, child, or dependent (as defined in Code Section 152 without regard to Code Section 152(d)(1)(B)); (vi) expenses to repair damage to the
Participant’s principal residence that would qualify for a casualty loss deduction under Code Section 165 (determined without regard to whether the loss exceeds 10% of adjusted gross income); or (vii) any other distribution which is
deemed by the Commissioner of Internal Revenue to be made on account of immediate and heavy financial need as provided in Treasury regulations. 
 No
withdrawal shall be allowed which is not necessary to satisfy such immediate and heavy financial need. 
 Such withdrawal shall be deemed necessary only if
all of the following requirements are met: (i) the distribution is not in excess of the amount of the immediate and heavy financial need (including amounts necessary to pay any Federal, state, or local income taxes or penalties reasonably
anticipated to result from the distribution); (ii) the Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans currently available under all plans maintained by the Employer; and (iii) the Plan,
and all other plans maintained by the Employer, provide that the Participant’s elective contributions and participant contributions will be suspended for at least six months after receipt of the hardship distribution. The Plan will suspend
elective contributions and participant contributions for six months as provided in the preceding sentence. 
 A Participant shall not cease to be an
Eligible Participant, as defined in the EXCESS AMOUNTS SECTION of Article III, merely because his elective contributions or participant contributions are suspended. 

SECTION 5.06—LOANS TO PARTICIPANTS. 
 Loans shall be
made available to all Participants on a reasonably equivalent basis. 
 For purposes of this section, and unless otherwise specified, Participant means any
Participant or Beneficiary who is a party-in-interest as defined in ERISA. Loans shall not be made to Highly Compensated Employees in an amount greater than the amount
made available to other Participants. 
 A loan to a Participant shall be a Participant-directed investment of his Account. The loan is a Trust Fund
investment but no Account other than the borrowing Participant’s Account shall share in the interest paid on the loan or bear any expense or loss incurred because of the loan. 

The portion of the Participant’s Account held in the Qualifying Employer Securities Fund may be redeemed for purposes of a loan only after the amount
held in other investment options has been depleted. 
 The number of outstanding loans shall be limited to one. 

No more than one loan shall be approved for any Participant in any 12-month period. 

The minimum amount of any loan shall be $1,000. 
 Loans must be
adequately secured and bear a reasonable rate of interest. 

  

					
	Amend No. 4 Effective December 31, 2018	 	60	 	Plan ID No. 993915 (7-7695)

 The amount of the loan shall not exceed the maximum amount that may be treated as a loan under Code
Section 72(p) (rather than a distribution) to the Participant and shall be equal to the lesser of (a) or (b) below: 
  

	(a)	 $50,000, reduced by the highest outstanding loan balance of loans during the
one-year period ending on the day before the new loan is made. 

  

	(b)	 The greater of (1) or (2), reduced by (3) below: 

 

	 	(1)	 One-half of the Participant’s Vested Account (without regard to
any accumulated deductible employee contributions. as defined in Code Section 72(o)(5)(B)). 

  

	 	(2)	 $10,000. 

  

	 	(3)	 Any outstanding loan balance on the date the new loan is made. 

For purposes of this maximum, all qualified employer plans, as defined in Code Section 72(p)(4), of the Employer and any Controlled Group member shall be
treated as one plan. 
 The foregoing notwithstanding, the amount of such loan shall not exceed 50 percent of the amount of the Participant’s
Vested Account reduced by any outstanding loan balance on the date the new loan is made. 
 For purposes of this maximum, a Participant’s Vested
Account does not include any accumulated deductible employee contributions, as defined in Code Section 72(o)(5)(B). No collateral other than a portion of the Participant’s Vested Account (as limited above) shall be accepted. 

The Participant’s outstanding loan balance shall include any deemed distribution, along with accrued interest, that has not been repaid or offset. 

A Participant must obtain the consent of his spouse. if any, to the use of the Vested Account as security for the loan. Spousal consent shall be obtained no
earlier than the beginning of the 180-day period that ends on the date on which the loan to be so secured is made. The consent must be in writing, must acknowledge the effect of the loan, and must be witnessed
by a plan representative or a notary public. Such consent shall thereafter be binding with respect to the consenting spouse or any subsequent spouse with respect to that loan. A new consent shall be required if the Vested Account is used for
collateral upon renegotiation, extension, renewal, or other revision of the loan. No consent shall be required if the plan is not subject to the survivor annuity requirements of Code Sections 401(a)(11) and 417. 

If a valid spousal consent has been obtained in accordance with the above, or spousal consent is not required, then, notwithstanding any other provision of
this Plan, the portion of the Participant’s Vested Account used as a security interest held by the Plan by reason of a loan outstanding to the Participant shall be taken into account for purposes of determining the amount of the Vested Account
payable at the time of death or distribution, but only if the reduction is used as repayment of the loan. If spousal consent is required and less than 100 percent of the Participant’s Vested Account (determined without regard to the
preceding sentence) is payable to the surviving spouse, then the Vested Account shall be adjusted by first reducing the Vested Account by the amount of the security used as repayment of the loan, and then determining the benefit payable to the
surviving spouse. 
 Each loan shall bear a reasonable fixed rate of interest to be determined by the Loan Administrator. In determining the interest rate,
the Loan Administrator shall take into consideration fixed interest rates currently being charged by commercial lenders for loans of comparable risk on similar terms and for similar durations, so that the interest will provide for a return
commensurate with rates currently charged by commercial lenders for loans made under similar circumstances. The Loan Administrator shall not discriminate among Participants in the matter of interest rates; but loans granted at different times may
bear different interest rates in accordance with the current appropriate standards. 

  

					
	Amend No. 4 Effective December 31, 2018	 	61	 	Plan ID No. 993915 (7-7695)

 The loan shall by its terms require that repayment (principal and interest) be amortized in level payments,
not less frequently than quarterly, over a period not extending beyond five years from the date of the loan. 
 If the loan is used to acquire a dwelling
unit, which within a reasonable time (determined at the time the loan is made) will be used as the principal residence of the Participant, the repayment period may extend beyond five years from the date of the loan, but the extended period shall be
consistent with commercial home loan practices. 
 The Participant shall make an application for a loan in such manner and in accordance with such rules as
the Employer shall prescribe for this purpose (including by means of voice response or other electronic means under circumstances the Employer permits). The application must specify the amount and duration requested. 

Information contained in the application for the loan concerning the income, liabilities, and assets of the Participant will be evaluated to determine whether
there is a reasonable expectation that the Participant will be able to satisfy payments on the loan as due. 
 Each loan shall be fully documented in the
form of a promissory note signed by the Participant for the face amount of the loan, together with interest determined as specified above. 
 There will be
an assignment of collateral to the Plan executed at the time the loan is made. 
 In those cases where repayment through payroll deduction is available,
installments are so payable, and a payroll deduction agreement shall be executed by the Participant at the time the loan is made. If the Participant has previously been treated as having received a deemed distribution and the subsequent loan is
being made before the deemed distribution, along with accrued interest, has been repaid or offset, a payroll deduction agreement shall be required. If a payroll deduction agreement is required because of a previous deemed distribution and the
Participant later revokes such agreement, the outstanding loan balance at the time of the revocation shall be treated as a deemed distribution. 
 Where
payroll deduction is not available, payments in cash are to be timely made. Any payment that is not by payroll deduction shall be made payable to the Employer or the Trustee, as specified in the promissory note, and delivered to the Loan
Administrator, including prepayments, service fees and penalties, if any, and other amounts due under the note. 
 The promissory note may provide for
reasonable late payment penalties and service fees. Any penalties or service fees shall be applied to all Participants in a nondiscriminatory manner. If the promissory note so provides, such amounts may be assessed and collected from the Account of
the Participant as part of the loan balance. 
 Each loan may be paid prior to maturity, in part or in full, without penalty or service fee, except as may
be set out in the promissory note. 
 The Plan may suspend loan payments for a period not exceeding one year during which an approved unpaid leave of
absence occurs other than a military leave of absence. The Loan Administrator shall provide the Participant a written explanation of the effect of the suspension of payments upon his loan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	62	 	Plan ID No. 993915 (7-7695)

 If a Participant separates from service (or takes a leave of absence) from the Employer because of service
in the military and does not receive a distribution of his Vested Account, the Plan may suspend loan payments until the Participant’s completion of military service or until the Participant’s fifth anniversary of commencement of military
service, if earlier, as permitted under Code Section 414(u). The Loan Administrator shall provide the Participant a written explanation of the effect of his military service upon his loan. 

If any payment of principal and interest, or any portion thereof, remains unpaid for more than 90 days after due, the loan shall be in default. For purposes
of Code Section 72(p), the Participant shall then be treated as having received a deemed distribution regardless of whether or not a distributable event has occurred. 

Upon default, the Plan has the right to pursue any remedy available by law to satisfy the amount due, along with accrued interest, including the right to
enforce its claim against the security pledged and execute upon the collateral as allowed by law. The entire principal balance whether or not otherwise then due, along with accrued interest, shall become immediately due and payable without demand or
notice, and subject to collection or satisfaction by any lawful means, including specifically, but not limited to, the right to enforce the claim against the security pledged and to execute upon the collateral as allowed by law. 

In the event of default, foreclosure on the note and attachment of security or use of amounts pledged to satisfy the amount then due shall not occur until a
distributable event occurs in accordance with the Plan, and shall not occur to an extent greater than the amount then available upon any distributable event which has occurred under the Plan. 

All reasonable costs and expenses, including but not limited to attorney’s fees, incurred by the Plan in connection with any default or in any proceeding
to enforce any provision of a promissory note or instrument by which a promissory note for a Participant loan is secured, shall be assessed and collected from the Account of the Participant as part of the loan balance. 

If payroll deduction is being utilized, in the event that a Participant’s available payroll deduction amounts in any given month are insufficient to
satisfy the total amount due, there will be an increase in the amount taken subsequently, sufficient to make up the amount that is then due. If any amount remains past due more than 90 days, the entire principal amount, whether or not otherwise then
due, along with interest then accrued, shall become due and payable, as above. 
 If no distributable event has occurred under the Plan at the time that the
Participant’s Vested Account would otherwise be used under this provision to pay any amount due under the outstanding loan, this will not occur until the time, or in excess of the extent to which, a distributable event occurs under the Plan. An
outstanding loan will become due and payable in full 60 days after a Participant has a Severance from Employment and ceases to be a party-in-interest as defined in ERISA
or after complete termination of the Plan. 
 SECTION 5.07—DISTRIBUTIONS UNDER QUALIFIED DOMESTIC RELATIONS ORDERS. 

The Plan specifically permits distributions to an Alternate Payee under a qualified domestic relations order as defined in Code Section 414(p), at any
time, irrespective of whether the Participant has attained his earliest retirement age, as defined in Code Section 414(p), under the Plan. A distribution to an Alternate Payee before the Participant has attained his earliest retirement age is
available only if the order specifies that distribution shall be made prior to the earliest retirement age or allows the Alternate Payee to elect a distribution prior to the earliest retirement age. 

  

					
	Amend No. 4 Effective December 31, 2018	 	63	 	Plan ID No. 993915 (7-7695)

 Nothing in this section shall permit a Participant to receive a distribution at a time otherwise not
permitted under the Plan nor shall it permit the Alternate Payee to receive a form of payment not permitted under the Plan. 
 The benefit payable to an
Alternate Payee shall be subject to the provisions of the SMALL AMOUNTS SECTION of Article X if the value of the benefit does not exceed the amount stated in that section. 

The Plan Administrator shall establish reasonable procedures to determine the qualified status of a domestic relations order. Upon receiving a domestic
relations order, the Plan Administrator shall promptly notify the Participant and each Alternate Payee named in the order, in writing, of the receipt of the order and the Plan’s procedures for determining the qualified status of the order.
Within a reasonable period of time after receiving the domestic relations order, the Plan Administrator shall determine the qualified status of the order and shall notify the Participant and each Alternate Payee, in writing, of its determination.
The Plan Administrator shall provide notice under this paragraph by mailing to the individual’s address specified in the domestic relations order, or in a manner consistent with Department of Labor regulations. The Plan Administrator may treat
as qualified any domestic relations order entered before January 1, 1985, irrespective of whether it satisfies all the requirements described in Code Section 414(p). 

If any portion of the Participant’s Vested Account is payable during the period the Plan Administrator is making its determination of the qualified
status of the domestic relations order, a separate accounting shall be made of the amount payable. If the Plan Administrator determines the order is a qualified domestic relations order within 18 months of the date amounts are first payable
following receipt of the order, the payable amounts shall be distributed in accordance with the order. If the Plan Administrator does not make its determination of the qualified status of the order within the
18-month determination period, the payable amounts shall be distributed in the manner the Plan would distribute if the order did not exist and the order shall apply prospectively if the Plan Administrator
later determines the order is a qualified domestic relations order. 
 The Plan shall make payments or distributions required under this section by separate
benefit checks or other separate distribution to the Alternate Payee(s). 

  

					
	Amend No. 4 Effective December 31, 2018	 	64	 	Plan ID No. 993915 (7-7695)

 ARTICLE VI 

DISTRIBUTION OF BENEFITS 
 SECTION
6.01—AUTOMATIC FORMS OF DISTRIBUTION. 
 Unless an optional form of benefit is selected pursuant to a qualified election within the election period
(see the ELECTION PROCEDURES SECTION of this article), the automatic form of benefit payable to or on behalf of a Participant is determined as follows: 
  

	(a)	 Retirement Benefits. The automatic form of retirement benefit for a Participant who does not die before
his Annuity Starting Date shall be a single sum payment. 

  

	(b)	 Death Benefits. The automatic form of death benefit for a Participant who dies before his Annuity
Starting Date shall be a single sum payment to the Participant’s Beneficiary. 

 SECTION 6.02—OPTIONAL FORMS OF DISTRIBUTION.

  

	(a)	 Retirement Benefits. The optional forms of retirement benefit shall be the following:

  

	 	•	 	 A single sum payment 

  

	 	•	 	 An in-kind distribution for the portion of a Participant’s Account
that is held in the Qualifying Employer Securities Fund 

 Election of an optional form is subject to the qualified
election provisions of the ELECTION PROCEDURES SECTION of this article and the distribution requirements of Article VII. 
  

	(b)	 Death Benefits. The optional form of death benefit is a single sum payment. 

Election of an optional form is subject to the qualified election provisions of the ELECTION PROCEDURES SECTION of this article and the
distribution requirements of Article VII. 
 SECTION 6.03—ELECTION PROCEDURES. 

The Participant or Beneficiary shall make any election under this section in writing. The Plan Administrator may require such individual to complete and sign
any necessary documents as to the provisions to be made. Any election permitted under (a) and (b) below shall be subject to the qualified election provisions of (c) below. 

 

	(a)	 Retirement Benefits. A Participant may elect his Beneficiary and may elect to have retirement benefits
distributed under any of the optional forms of retirement benefit available in the OPTIONAL FORMS OF DISTRIBUTION SECTION of this article. 

  

	(b)	 Death Benefits. A Participant may elect his Beneficiary and may elect to have death benefits·
distributed under any of the optional forms of death benefit available in the OPTIONAL FORMS OF DISTRIBUTION SECTION of this article. 

  

					
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 If the Participant has not elected an optional form of distribution for the death benefit
payable to his Beneficiary, the Beneficiary may, for his own benefit, elect the form of distribution, in like manner as a Participant. 
  

	(c)	 Qualified Election. The Participant or Beneficiary may make an election at any time during the election period.
The Participant or Beneficiary may revoke the election made (or make a new election) at any time and any number of times during the election period. An election is effective only if it meets the consent requirements below. 

 

	 	(1)	 Election Period for Retirement Benefits. The Participant may make an election as to retirement benefits at any
time before the Annuity Starting Date. 

  

	 	(2)	 Election Period for Death Benefits. A Participant may make an election as to death benefits at any time before
he dies. The Beneficiary’s election period begins on the date the Participant dies and ends on the date benefits begin. 

  

	 	(3)	 Consent to Election. If the Participant’s Vested Account exceeds the amount stated in the SMALL AMOUNTS
SECTION of Article X, any benefit that is immediately distributable requires the consent of the Participant. 

 The consent
of the Participant to a benefit that is immediately distributable must not be made before the date the Participant is provided with the notice of the ability to defer the distribution. Such consent shall be in writing. 

The consent shall not be made more than 180 days (90 days for Plan Years beginning before January 1, 2007) before the Annuity Starting
Date. The consent of the Participant shall not be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or 415. 

In addition, upon termination of this Plan, if the Plan does not offer an annuity option (purchased from a commercial provider), and if the
Employer (or any entity within the same Controlled Group) does not maintain another defined contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7)), the Participant’s Account balance will,
without the Participant’s consent, be distributed to the Participant. However, if any entity within the same Controlled Group maintains another defined contribution plan (other than an employee stock ownership plan as defined in Code
Section 4975(e)(7)) the Participant’s Account will be transferred, without the Participant’s consent, to the other plan if the Participant does not consent to an immediate distribution. 

A benefit is immediately distributable if any part of the benefit could be distributed to the Participant before the Participant attains the
older of Normal Retirement Age or age 62. 
 Spousal consent is needed to name a Beneficiary other than the Participant’s spouse. If the
Participant names a Beneficiary other than his spouse, the spouse has the right to limit consent only to a specific Beneficiary. The spouse can relinquish such right. Such consent shall be in writing. The spouse’s consent shall be witnessed by
a plan representative or notary public. The spouse’s consent must acknowledge the effect of the election, including that the spouse had the right to limit consent only to a specific Beneficiary and that the relinquishment of such right was
voluntary. Unless the consent of the spouse expressly permits designations by the Participant without a requirement of further consent by the spouse, the spouse’s consent must be limited to the Beneficiary, class of Beneficiaries, or contingent
Beneficiary named in the election. 

  

					
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 Spousal consent is not required, however, if the Participant establishes to the satisfaction
of the plan representative that the consent of the spouse cannot be obtained because there is no spouse or the spouse cannot be located. A spouse’s consent under this paragraph shall not be valid with respect to any other spouse. A Participant
may revoke a prior election without the consent of the spouse. Any new election will require a new spousal consent, unless the consent of the spouse expressly permits such election by the Participant without further consent by the spouse. A
spouse’s consent may be revoked at any time within the Participant’s election period. 
 SECTION 6.04—NOTICE REQUIREMENTS. 

Optional Forms of Retirement Benefit and Right to Defer. The Plan Administrator shall furnish to the Participant a written explanation of the right of
the Participant to defer distribution until such time it is no longer immediately distributable. Such notice shall include a written explanation of the optional forms of retirement benefit in the OPTIONAL FORMS OF DISTRIBUTION SECTION of this
article, including a general description of the material features and, for Plan Years beginning after December 31, 2006, a description of the consequences of not deferring the distribution. 

The Plan Administrator shall furnish the written explanation by a method reasonably calculated to reach the attention of the Participant no less than 30 days,
and no more than 180 days (90 days for Plan Years beginning before January 1, 2007), before the Annuity Starting Date. 
 However, distribution may
begin less than 30 days after the notice described in this subparagraph is given, provided the Plan Administrator clearly informs the Participant that he has a right to a period of at least 30 days after receiving the notice to consider the decision
of whether or not to elect a distribution (and if applicable, a particular distribution option), and the Participant, after receiving the notice, affirmatively elects a distribution. 

  

					
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 ARTICLE VII 

REQUIRED MINIMUM DISTRIBUTIONS 

SECTION 7.01—APPLICATION. 
 The optional forms of
distribution are only those provided in Article VI. An optional form of distribution shall not be permitted unless it meets the requirements of this article. The timing of any distribution must meet the requirements of this article. 

Notwithstanding the provisions of this article, a Participant or Beneficiary who would have been required to receive required minimum distributions (described
in the REQUIRED MINIMUM DISTRIBUTIONS SECTION of this article) for 2009 but for the enactment of Code Section 401(a)(9)(H), and who would have satisfied that requirement by receiving distributions that are (i) equal to the 2009 required
minimum distributions or (ii) one or more payments in a series of substantially equal distributions (that include the 2009 required minimum distributions) made at least annually and expected to last for the life (or life expectancy) of the
Participant, the joint lives (or joint life expectancy) of the Participant and the Participant’s Designated Beneficiary, or for a period of at least 10 years, will not receive those required minimum distributions for 2009 unless the Participant
or Beneficiary chooses to receive such distributions. Solely for purposes of applying the provisions of the DIRECT ROLLOVERS SECTION of Article X, required minimum distributions made for 2009 will be treated as Eligible Rollover Distributions. 

SECTION 7.02—DEFINITIONS. 
 For purposes of this
article, the following terms are defined: 
 Distribution Calendar Year means 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 that 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 under (b)(2) of the REQUIRED MINIMUM DISTRIBUTIONS SECTION of this article. The required minimum distribution
for the Participant’s first Distribution Calendar Year will be made on or before the Participant’s Required Beginning Date. The required minimum distribution for other Distribution Calendar Years, including the required minimum
distribution for the Distribution Calendar Year in which the Participant’s Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year. 

5-percent Owner means a Participant who is treated as a 5-percent Owner
for purposes of this article. A Participant is treated as a 5-percent Owner for purposes of this article if such Participant is a 5-percent owner as defined in Code
Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70 1/2. 
 Once distributions have
begun to a 5-percent Owner under this article, they must continue to be distributed, even if the Participant ceases to be a 5-percent Owner in a subsequent year. 

Life Expectancy means life expectancy as computed by use of the Single Life Table in Q&A-1 in section 1.401(a)(9)-9 of the regulations. 

  

					
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 Participant’s Account Balance means the Account balance as of the last Valuation Date in the
calendar year immediately preceding the Distribution Calendar Year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the Account as of dates in the valuation calendar year after the
Valuation Date and decreased by distributions made in the valuation calendar year after the Valuation Date. The Account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation
calendar year or in the Distribution Calendar Year if distributed or transferred in the valuation calendar year. 
 Required Beginning Date means,
for a Participant who is a 5-percent Owner, April 1 of the calendar year following the calendar year in which he attains age 70 1/2. 

Required Beginning Date means, for any Participant who is not a 5-percent Owner, April 1 of the calendar year
following the later of the calendar year in which he attains age 70 1/2 or the calendar year in which he retires. 
 If the Plan previously provided for a
Required Beginning Date based on age 70 1/2 for all Participants, the preretirement age 70 1/2 distribution option is only eliminated with respect to Participants who reach age 70 1/2 in or after a calendar year that begins after the later of
December 31, 1998, or the adoption date of the amendment which eliminated such option. The preretirement age 70 1/2 distribution option is an optional form of benefit under which benefits payable in a particular distribution form (including any
modifications that may be elected after benefits begin) begin at a time during the period that begins on or after January 1 of the calendar year in which the Participant attains age 70 1/2 and ends April 1 of the immediately following
calendar year. 
 If the Plan previously provided for a Required Beginning Date based on age 70 1/2 for all Participants, the options available for
Participants who are not 5-percent Owners and attained age 70 1/2 in calendar years before the calendar year that begins after the later of December 31, 1998, or the adoption date of the amendment which
eliminated the preretirement age 70 1/2 distribution option shall be the following. Any such Participant attaining age 70 1/2 in years after 1995 may elect by April 1 of the calendar year following the calendar year in which he attained age 70
1/2 (or by December 31, 1997, in the case of a Participant attaining age 70 1/2 in 1996) to defer distributions until April 1 of the calendar year following the calendar year in which he retires. If no such election is made, the
Participant shall begin receiving distributions by April 1 of the calendar year following the year in which he attained age 70 1/2 (or by December 31, 1997, in the case of a Participant attaining age 70 1/2 in 1996). Any such Participant
attaining age 70 1/2 in years prior to 1997 may elect to stop distributions that are not purchased annuities and recommence by April 1 of the calendar year following the calendar year in which he retires. There shall be a new Annuity Starting
Date upon recommencement. 
 SECTION 7.03—REQUIRED MINIMUM DISTRIBUTIONS. 

 

	(a)	 General Rules. 

 

	 	(1)	 The requirements of this article shall apply to any distribution of a Participant’s interest and will take
precedence over any inconsistent provisions of this Plan. Unless otherwise specified, the provisions of this article apply to calendar years beginning after December 31, 2002. 

 

	 	(2)	 All distributions required under this article shall be determined and made in accordance with the regulations
under Code Section 401(a)(9), including the incidental death benefit requirement in Code Section 401(a)(9)(G), and the regulations thereunder. 

  

					
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	(b)	 Time and Manner of Distribution. 

 

	 	(1)	 Required Beginning Date. The Participant’s entire interest will be distributed, or begin to be
distributed, to the Participant no later than the Participant’s Required Beginning Date. 

  

	 	(2)	 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, no later than as follows: 

  

	 	(i)	 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, except to the extent that an election is made to receive distributions in accordance with the 5-year rule under (e) below. Under the 5-year rule, the
Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 

 

	 	(ii)	 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, except to the extent that an election is made to receive distributions in
accordance with the 5-year rule under (e) below. Under the 5-year rule, the Participant’s entire interest will be distributed to the Designated Beneficiary by
December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 

  

	 	(iii)	 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. 

 

	 	(iv)	 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 are required to begin, this (b)(2), other than (b)(2)(i), will apply as if the surviving spouse were the Participant. 

For purposes of this (b)(2) and (d) below, unless (b)(2)(iv) above applies, distributions are considered to begin on the
Participant’s Required Beginning Date. If (b)(2)(iv) above applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under (b)(2)(i) above. If distributions under an
annuity purchased from an insurance company 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 (b)(2)(i) above), the date distributions are considered to begin is the date distributions actually commence. 
  

	 	(3)	 Forms 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 (c) and (d) below. 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 Code Section 401(a)(9) and the regulations thereunder. 

  

					
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	(c)	 Required Minimum Distributions During Participant’s Lifetime. 

 

	 	(1)	 Amount of Required Minimum Distribution For Each Distribution Calendar Year During the
Participant’s lifetime, the minimum amount that will be distributed for each Distribution Calendar Year is the lesser of: 

  

	 	(i)	 the quotient obtained by dividing the Participant’s Account Balance by the distribution period in the
Uniform Lifetime Table set forth in Q&A-2 in section 1.401(a)(9)-9 of the regulations, using the Participant’s age as of the Participant’s birthday in the
Distribution Calendar Year; or 

  

	 	(ii)	 if the Participant’s sole Designated Beneficiary for the Distribution Calendar Year is the
Participant’s spouse, the quotient obtained by dividing the Participant’s Account Balance by the number in the Joint and Last Survivor Table set forth in Q&A-3 in section 1.401(a)(9)-9 of the regulations, using the Participant’s and spouse’s attained ages as of the Participant’s and spouse’s birthdays in the Distribution Calendar Year 

 

	 	(2)	 Lifetime Required Minimum Distributions Continue Through Year of Participant’s Death. Required
minimum distributions will be determined under this (c) beginning with the first Distribution Calendar Year and continuing up to, and including, the Distribution Calendar Year that includes the Participant’s date of death.

  

	(d)	 Required Minimum Distributions After Participant’s Death. 

 

	 	(1)	 Death On or After Date Distributions Begin. 

 

	 	(i)	 Participant Survived by Designated Beneficiary. If the Participant dies on or after the date
distributions begin and there is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s
Account Balance by the longer of the remaining Life Expectancy of the Participant or the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as follows: 

 

	 	A.	 The Participant’s remaining Life Expectancy is calculated using the age of the Participant in the year of
death, reduced by one for each subsequent year. 

  

	 	B.	 If the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, the remaining
Life Expectancy of the surviving spouse is calculated for each Distribution Calendar Year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year For Distribution Calendar
Years after the year of the surviving spouse’s death, the remaining Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death,
reduced by one for each subsequent calendar year. 

  

					
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	 	C.	 If the Participant’s surviving spouse is not the Participant’s sole Designated Beneficiary, the
Designated Beneficiary’s remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. 

 

	 	(ii)	 No Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is
no Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the
quotient obtained by dividing the Participant’s Account Balance by the Participant’s remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.

  

	 	(2)	 Death Before Date Distributions Begin. 

 

	 	(i)	 Participant Survived by Designated Beneficiary. If the Participant dies before the date distributions
begin and there is a Designated Beneficiary, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account Balance
by the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as provided in (d)(1) above, except to the extent that an election is made to receive distributions in accordance with the
5-year rule under (e) below. Under the 5-year rule, the Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of
the calendar year containing the fifth anniversary of the Participant’s death. 

  

	 	(ii)	 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. 

  

	 	(iii)	 Death of Surviving Spouse Before Distributions to Surviving Spouse Are Required to Begin. If the
Participant dies before the date distributions begin, the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving spouse
under (b)(2)(i) above, this (d)(2) will apply as if the surviving spouse were the Participant. 

  

	(e)	 Election of 5-year Rule. Participants or Beneficiaries may elect
on an individual basis whether the 5- year rule in (b)(2) and (d)(2) above applies to distributions after the death of a Participant who has a Designated Beneficiary. The election must be made no later than
the earlier of September 30 of the calendar year in which the distribution would be required to begin under (b)(2) above if no such election is made, or by September 30 of the calendar year which contains the fifth anniversary of the
Participant’s (or, if applicable, surviving spouse’s) death. 

  

					
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 SECTION 7.04—TEFRA SECTION 242(b)(2) ELECTIONS. 

 

	(a)	 Notwithstanding the other requirements of this article, distribution on behalf of any Participant, including a 5-percent Owner, who has made a designation under section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (a section 242(b)(2) election) may be made in accordance with all of the following requirements
(regardless of when such distribution commences): 

  

	 	(1)	 The distribution by the Plan is one that would not have disqualified such Plan under Code
Section 401(a)(9) as in effect prior to amendment by the Deficit Reduction Act of 1984. 

  

	 	(2)	 The distribution is in accordance with a method of distribution designated by the Participant whose interest in
the Plan is being distributed or, if the Participant is deceased, by a Beneficiary of such Participant. 

  

	 	(3)	 Such designation was in writing, was signed by the Participant or the Beneficiary, and was made before
January 1, 1984. 

  

	 	(4)	 The Participant had accrued a benefit under the Plan as of December 31, 1983. 

 

	 	(5)	 The method of distribution designated by the Participant or the Beneficiary specifies the time at which
distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Participant’s death, the Beneficiaries of the Participant listed in order of priority. 

 

	(b)	 A distribution upon death will not be covered by this transitional rule unless the information in the
designation contains the required information described above with respect to the distributions to be made upon the death of the Participant. 

  

	(c)	 For any distribution which commences before January 1, 1984, but continues after December 31, 1983,
the Participant, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the
distribution satisfies the requirements in (a)(1) and (5) above. 

  

	(d)	 If a designation is revoked, any subsequent distribution must satisfy the requirements of Code
Section 401(a)(9) and the regulations thereunder. If a designation is revoked subsequent to the date distributions are required to begin, the Plan must distribute by the end of the calendar year following the calendar year in which the
revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy Code Section 401(a)(9) and the regulations thereunder, but for the section 242(b)(2) election. For calendar years
beginning after December 31, 1988, such distributions must meet the minimum distribution incidental benefit requirements. Any changes in the designation will be considered to be a revocation of the designation. However, the mere substitution or
addition of another Beneficiary (one not named in the designation) under the designation will not be considered to be a revocation of the designation, so long as such substitution or addition does not alter the period over which distributions are to
be made under the designation, directly or indirectly (for example, by altering the relevant measuring life). 

  

	(e)	 In the case in which an amount is transferred or rolled over from one plan to another plan, the rules in Q&A-14 and Q&A-15 in section 1.401(a)(9)-8 of the regulations shall apply. 

  

					
	Amend No. 4 Effective December 31, 2018	 	73	 	Plan ID No. 993915 (7-7695)

 ARTICLE VIII 

TERMINATION OF THE PLAN 
 The Employer
expects to continue the Plan indefinitely but reserves the right to terminate the Plan in whole or in part at any time upon giving written notice to all parties concerned. 

The Account of each Participant shall be 100% vested and nonforfeitable as of the effective date of the complete termination of the Plan. The Account of each
Participant shall also be 100% vested and nonforfeitable upon complete discontinuance of Contributions as of the effective date of the amendment to cease Contributions or the date determined by the Internal Revenue Service. Further, the Account of
each Participant who is included in the group of Participants deemed to be affected by a partial termination of the Plan (as determined by the Plan Administrator or a governmental entity authorized to make such determination) shall be 100% vested
and nonforfeitable as of the effective date of such event. The Participant’s Vested Account shall continue to participate in the earnings credited, expenses charged, and any appreciation or depreciation of the Investment Fund until his Vested
Account is distributed. 
 A Participant’s Vested Account that does not result from Elective Deferral Contributions, Qualified Nonelective
Contributions, Qualified Matching Contributions, QACA Matching Contributions, and QACA Nonelective Contributions may be distributed to the Participant after the effective date of the complete termination of the Plan. A Participant’s Vested
Account resulting from such Contributions may be distributed upon complete termination of the Plan, but only if neither the Employer nor any Controlled Group member maintain another defined contribution plan (other than an employee stock ownership
plan as defined in Code Section 4975(e)(7) or 409(a), a simplified employee pension plan as defined in Code Section 408(k), a SIMPLE IRA plan as defined in Code Section 408(p), a plan or contract that satisfies the requirements of
Code Section 403(b), or a plan described in Code Section 457(b) or (f)) at any time during the period beginning on the date of complete termination of the Plan and ending 12 months after all assets have been distributed from the Plan. Such
distribution is made in a lump sum. A distribution under this article shall be a retirement benefit and shall be distributed to the Participant according to the provisions of Article VI. 

The Participant’s entire Vested Account shall be paid in a single sum to the Participant as of the effective date of complete termination of the Plan if
(i) the requirements for distribution of Elective Deferral Contributions in the above paragraph are met and (ii) consent of the Participant is not required in the ELECTION PROCEDURES SECTION of Article VI to distribute a benefit that is
immediately distributable. This is a small amounts payment. The small amounts payment is in full settlement of all benefits otherwise payable. 
 Upon
complete termination of the Plan, no more Employees shall become Participants and no more Contributions shall be made. 
 The assets of this Plan shall not
be paid to the Employer at any time, except that, after the satisfaction of all liabilities under the Plan, any assets remaining may be paid to the Employer. The payment may not be made if it would contravene any provision of law. 

  

					
	Amend No. 4 Effective December 31, 2018	 	74	 	Plan ID No. 993915 (7-7695)

 ARTICLE IX 

ADMINISTRATION OF THE PLAN 
 SECTION
9.01—ADMINISTRATION. 
 Subject to the provisions of this article, the Plan Administrator has complete control of the administration of the Plan.
The Plan Administrator has all the powers necessary for it to properly carry out its administrative duties. Not in limitation, but in amplification of the foregoing, the Plan Administrator has complete discretion to construe or interpret the
provisions of the Plan, including ambiguous provisions, if any, and to determine all questions that may arise under the Plan, including all questions relating to the eligibility of Employees to participate in the Plan and the amount of benefit to
which any Participant or Beneficiary may become entitled. The Plan Administrator’s decisions upon all matters within the scope of its authority shall be final. 

Without limiting the foregoing, the Plan Administrator shall be the Named Fiduciary for Contributions, unless the Plan Administrator delegates to a retirement
committee, pursuant to the DELEGATION OF AUTHORITY SECTION of this article, the duties and responsibilities of the Named Fiduciary for Contributions. The Named Fiduciary for Contributions shall have sole and exclusive responsibility for
(i) collecting all Contributions, including the determination of the amount of Contributions required to be made under the Plan, (ii) monitoring and ensuring that Contributions are timely made to the Plan, and (iii) enforcing the
Plan’s legal claims for Contributions, including for trusteed plans, responsibility for directing the Trustee with respect to the Plan’s legal claims for delinquent Contributions. 

Unless otherwise set out in the Plan or Annuity Contract, the Plan Administrator may delegate recordkeeping and other duties that are necessary to assist it
with the administration of the Plan to any person or firm which agrees to accept such duties. The Plan Administrator shall be entitled to rely upon all tables, valuations, certificates and reports furnished by the consultant or actuary appointed by
the Plan Administrator and upon all opinions given by any counsel selected or approved by the Plan Administrator. 
 The Plan Administrator shall receive
all claims for benefits by Participants, former Participants, and Beneficiaries. The Plan Administrator shall determine all facts necessary to establish the right of any Claimant to benefits and the amount of those benefits under the provisions of
the Plan. The Plan Administrator may establish rules and procedures to be followed by Claimants in filing claims for benefits, in furnishing and verifying proofs necessary to determine age, and in any other matters required to administer the Plan.

 SECTION 9.02—EXPENSES. 
 Expenses of the Plan,
to the extent that the Employer does not pay such expenses, may be paid out of the assets of the Plan provided that such payment is consistent with ERISA. Expenses of the Plan will be paid in accordance with the most recent service and expense
agreement or such other documents duly entered into by or with regard to the Plan that govern such matters. Such expenses include, but are not limited to, expenses for bonding required by ERISA; expenses for recordkeeping and other administrative
services; fees and expenses of the Annuity Contract or Trustee; expenses for investment education service; and direct costs that the Employer incurs with respect to the Plan. Expenses that relate solely to a specific Participant or Alternate Payee
may be assessed against such Participant or Alternate Payee as provided in the service and expense agreement or such other documents duly entered into by or with regard to the Plan that govern such matters. 

  

					
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 SECTION 9.03—RECORDS. 

All acts and determinations of the Plan Administrator shall be duly recorded. All these records, together with other documents necessary for the administration
of the Plan, shall be preserved in the Plan Administrator’s custody. 
 Writing (handwriting, typing, printing), photostating, photographing,
microfilming, magnetic impulse, mechanical or electrical recording, or other forms of data compilation shall be acceptable means of keeping records. 

SECTION 9.04—INFORMATION AVAILABLE. 
 Any Participant
in the Plan or any Beneficiary may examine copies of the summary plan description, latest annual report, any bargaining agreement, this Plan, the Annuity Contract, or any other instrument under which the Plan was established or is operated. The Plan
Administrator shall maintain all of the items listed in this section in its office, or in such other place or places as it may designate in order to comply with governmental regulations. These items may be examined during reasonable business hours.
Upon the written request of a Participant or Beneficiary receiving benefits under the Plan, the Plan Administrator shall furnish him with a copy of any of these items. The Plan Administrator may make a reasonable charge to the requesting person for
the copy. 
 SECTION 9.05—CLAIM PROCEDURES. 
 A
Claimant must submit any necessary forms and needed information when making a claim for benefits under the Plan. 
 If a claim for benefits under the Plan
is wholly or partially denied, the Plan Administrator shall provide adequate written notice to the Claimant whose claim for benefits under the Plan has been denied. The notice must be furnished within 90 days of the date that the claim is received
by the Plan without regard to whether all of the information necessary to make a benefit determination is received. The Claimant shall be notified in writing within this initial 90-day period if special
circumstances require an extension of the time needed to process the claim. The notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan Administrator’s decision is expected to be rendered.
In no event shall such extension exceed a period of 90 days from the end of the initial 90-day period. 
 The Plan
Administrator’s notice to the Claimant shall: (i) specify the reason or reasons for the denial; (ii) reference the specific Plan provisions on which the denial is based; (iii) describe any additional material and information
needed for the Claimant to perfect his claim for benefits; (iv) explain why the material and information is needed; and (v) inform the Claimant of the Plan’s appeal procedures and the time limits applicable to such procedures,
including a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on appeal. 

Any appeal made by a Claimant must be made in writing to the Plan Administrator within 60 days after receipt of the Plan Administrator’s notice of denial
of benefits. If the Claimant appeals to the Plan Administrator, the Claimant may submit written comments, documents, records, and other information relating to the claim for benefits. The Claimant shall be provided, upon request and free of charge,
reasonable access to, and copies of, all documents, records, and other information relevant to the Claimant’s claim for benefits. The Plan Administrator shall review the claim taking into account 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 in the initial benefit determination. 

  

					
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 The Plan Administrator shall provide adequate written notice to the Claimant of the Plan’s benefit
determination on review. The notice must be furnished within 60 days of the date that the request for review is received by the Plan without regard to whether all of the information necessary to make a benefit determination on review is received.
The Claimant shall be notified in writing within this initial 60-day period if special circumstances require an extension of the time needed to process the claim. The notice shall indicate the special
circumstances requiring an extension of time and the date by which the Plan Administrator expects to render the determination on review. In no event shall such extension exceed a period of 60 days from the end of the initial 60-day period. 
 In the event the benefit determination is being made by a committee or board of trustees that hold
regularly scheduled meetings at least quarterly, the above paragraph shall not apply. The benefit determination must be made by the date of the meeting of the committee or board that immediately follows the Plan’s receipt of a request for
review, unless the request for review is filed within 30 days preceding the date of such meeting. In such case, the benefit determination must be made by the date of the second meeting following the Plan’s receipt of the request for review. The
date of the receipt of the request for review shall be determined without regard to whether all of the information necessary to make a benefit determination on review is received. The Claimant shall be notified in writing within this initial period
if special circumstances require an extension of the time needed to process the claim. The notice shall indicate the special circumstances requiring an extension of time and the date by which the committee or board expects to render the
determination on review. In no event shall such benefit determination be made later than the third meeting of the committee or board following the Plan’s receipt of the request for review. The Plan Administrator shall provide adequate written
notice to the Claimant of the Plan’s benefit determination on review as soon as possible, but not later than five days after the benefit determination is made. 

If the claim for benefits is wholly or partially denied on review, the Plan Administrator’s notice to the Claimant shall: (i) specify the reason or
reasons for the denial; (ii) reference the specific Plan provisions on which the denial is based; (iii) include 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 for benefits; and (iv) include a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a). Any civil action under
(iv) must be filed no later than one year after the date on the Plan Administrator’s notice. 
 A Claimant may authorize a representative to act
on the Claimant’s behalf with respect to a benefit claim or appeal of an adverse benefit determination. Such authorization shall be made by completion of a form furnished for that purpose. In the absence of any contrary direction from the
Claimant, all information and notifications to which the Claimant is entitled shall be directed to the authorized representative. 
 The Plan Administrator
shall perform periodic examinations, reviews, or audits of benefit claims to determine whether claims determinations are made in accordance with the governing Plan documents and, where appropriate, Plan provisions have been consistently applied with
respect to similarly situated Claimants. 
 SECTION 9.06—DELEGATION OF AUTHORITY. 

All or any part of the administrative duties and responsibilities under this article may be delegated by the Plan Administrator to a retirement committee. The
duties and responsibilities of the retirement committee shall be set out in a separate written agreement. 

  

					
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 SECTION 9.07—EXERCISE OF DISCRETIONARY AUTHORITY. 

The Employer, Plan Administrator, and any other person or entity who has authority with respect to the management, administration, or investment of the Plan
may exercise that authority in its/his full discretion, subject only to the duties imposed under ERISA. This discretionary authority includes, but is not limited to, the authority to make any and all factual determinations and interpret all terms
and provisions of the Plan documents relevant to the issue under consideration. The exercise of authority will be binding upon all persons. 
 SECTION
9.08—TRANSACTION PROCESSING. 
 Transactions (including, but not limited to, investment directions, trades, loans, and distributions) shall be
processed as soon as administratively practicable after proper directions are received from the Participant or other parties. No guarantee is made by the Plan, Plan Administrator, Insurer, Employer, or Trustee that such transactions will be
processed on a daily or other basis, and no guarantee is made in any respect regarding the processing time of such transactions. Notwithstanding any other provision of the Plan, the Employer, the Plan Administrator, or the Trustee reserves the right
to not value an investment option on any given Valuation Date for any reason deemed appropriate by the Employer, the Plan Administrator, or the Trustee, except that such investment option shall be valued as of the last day of the Plan Year as stated
in the definition of Valuation Date in Article I. 
 Administrative practicality will be determined by legitimate business factors (including, but not
limited to, failure of systems or computer programs, failure of the means of the transmission of data, force majeure, the failure of a service provider to timely receive values or prices, and correction for errors or omissions or the errors or
omissions of any service provider) and in no event will be deemed to be less than 14 days. The processing date of a transaction shall be binding for all purposes of the Plan and considered the applicable Valuation Date for any transaction. 

  

					
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 ARTICLE X 

GENERAL PROVISIONS 
 SECTION
10.01—AMENDMENTS. 
  

	(a)	 Amendment by the Employer. The Employer may amend this Plan at any time, including any remedial
retroactive changes (within the time specified by Internal Revenue Service regulations), to comply with any law or regulation issued by any governmental agency to which the Plan is subject. 

An amendment may not allow reversion or diversion of Plan assets to the Employer at any time, except as may be required to comply with any law
or regulation issued by any governmental agency to which the Plan is subject. 
 The Employer may amend the Plan by adding sample or model
Plan amendments published by the Internal Revenue Service that provide that their adoption will not cause the Plan to be treated as individually designed. The Employer may amend the Plan in order to correct failures under the Internal Revenue
Service correction programs or to correct a coverage or nondiscrimination failure, as permitted under applicable Treasury regulations. An amendment to this Plan will be forwarded to Principal Life Insurance Company, the volume submitter
practitioner. 
 The Employer may attach an addendum which lists the Code Section 411(d)(6) protected benefits that must be preserved
due to a restatement or amendment of the Plan. Such a list would not be considered an amendment to the Plan and will not cause the Plan to be treated as individually designed. 

The Employer may make minor modifications to the Plan as permitted under sections 14 and 15 of Revenue Procedure
2011-49. 
 If the Employer amends the Plan for any reason other than those set out above, the Plan
shall no longer participate in this volume submitter plan and shall be considered an individually designed plan. The Employer reserves the right to continue its retirement program under a document separate and distinct from this Plan. In such event,
all rights and obligations of the Employer, or of any Participant or Beneficiary under this document, shall cease. Assets held in support of this Plan will be transferred to the designated funding medium under the new or restated plan and, if
applicable, trust agreement, in the manner permitted under, and subject to the provisions of, the Annuity Contract. 
 An amendment may not
eliminate or reduce a section 411(d)(6) protected benefit, as defined in Q&A-1 in section 1.411(d)-4 of the regulations, that has already accrued, except as provided
in section 1.411(d)-3 or 1.411(d)-4 of the regulations. This is generally the case even if such elimination or reduction is contingent upon the Employee’s consent
and includes an amendment that otherwise places greater restrictions or conditions on a Participant’s right to Code Section 411(d)(6) protected benefits, even if the amendment merely adds a restriction or condition that is permitted under
the vesting rules in Code Section 411(a)(3) through (11). However, the Plan may be amended to eliminate or reduce section 411(d)(6) protected benefits with respect to benefits not yet accrued as of the later of the amendment’s adoption
date or effective date without violating Code Section 411(d)(6). For purposes of this paragraph, an amendment that has the effect of decreasing a Participant’s Account balance, with respect to benefits attributable to service before the
amendment, shall be treated as reducing an accrued benefit. 

  

					
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 No amendment to the Plan shall be effective to eliminate or restrict an optional form of
benefit. The preceding sentence shall not apply to a Plan amendment that eliminates or restricts the ability of a Participant to receive payment of his Account balance under a particular optional form of benefit if the amendment provides a single
sum distribution form that is otherwise identical to the optional form of benefit being eliminated or restricted. For this purpose, a single sum distribution form is otherwise identical only if the single sum distribution form is identical in all
respects to the eliminated or restricted optional form of benefit (or would be identical except that it provides greater rights to the Participant) except with respect to the timing of payments after commencement. 

If, as a result of an amendment, an Employer Contribution is removed that is not 100% immediately vested when made, the applicable vesting
schedule in effect as of the last day such Contributions were permitted shall remain in effect with respect to that part of the Participant’s Account resulting from such Contributions. The Participant shall not become immediately 100% vested in
such Contributions as a result of the elimination of such Contribution except as otherwise specifically provided in the Plan. 
 An amendment
shall not decrease a Participant’s vested interest in the Plan. If an amendment to the Plan changes the computation of the percentage used to determine that portion of a Participant’s Account attributable to Employer Contributions which is
nonforfeitable (whether directly or indirectly), in the case of an Employee who is a Participant as of the later of the date such amendment or change is adopted or the date it becomes effective, the nonforfeitable percentage (determined as of such
date) of such Employee’s right to his Account attributable to Employer Contributions shall not be less than the percentage computed under the Plan without regard to such amendment or change. Furthermore, each Participant or former Participant

  

	 	(1)	 who has completed at least three Years of Service on the date the election period described below ends (five
Years of Service if the Participant does not have at least one Hour of Service in a Plan Year beginning after December 31, 1988) and 

  

	 	(2)	 whose nonforfeitable percentage will be determined on any date after the date of the change

 may elect, during the election period, to have the nonforfeitable percentage of his Account resulting from Employer
Contributions determined without regard to the amendment. This election may not be revoked. If after the Plan is changed, the Participant’s nonforfeitable percentage will at all times be as great as it would have been if the change had not been
made, no election needs to be provided. The election period shall begin no later than the date the Plan amendment is adopted and end no earlier than the 60th day after the latest of the date the amendment is adopted or becomes effective, or the date
the Participant is issued written notice of the amendment by the Employer or the Plan Administrator. 
 For an amendment adopted after
August 9, 2006, with respect to a Participant’s Account attributable to Employer Contributions accrued as of the later of the adoption or effective date of the amendment and earnings, the vested percentage of each Participant will be the
greater of the vested percentage under the old vesting schedule or the vested percentage under the new vesting schedule. 

  

					
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	(b)	 Amendment by the Volume Submitter Practitioner. 

The Employer delegates the authority to amend this Plan to Principal Life Insurance Company as the volume submitter practitioner. The Employer
hereby consents to any such amendment. However, no such amendment shall increase the duties of the Named Fiduciary without his consent. Such an amendment shall not deprive any Participant or Beneficiary of any accrued benefit except to the extent
necessary to comply with any law or regulation issued by any governmental agency to which this Plan is subject. Such an amendment shall not provide that the Plan Fund be used for any purpose other than the exclusive benefit of Participants or their
Beneficiaries or that such Plan Fund ever revert to or be used by the Employer. 
 However, for purposes of reliance on an advisory or
determination letter, Principal Life Insurance Company as the volume submitter practitioner will no longer have the authority to amend the Plan on behalf of the Employer as of the date (i) the Employer amends the Plan to incorporate a type of
plan described in section 16.03 of Revenue Procedure 2011-49 that is not permitted under the VS program, or (ii) the Internal Revenue Service notifies the Employer, in accordance with section 24.03 of
Revenue Procedure 2011-49, that the Plan is an individually designed plan due to the nature and extent of employer amendments to the Plan. 

Any amendment to this Plan by Principal Life Insurance Company, as the volume submitter practitioner, shall be deemed to be an amendment to
this Plan by the Employer. The effective date of any amendment shall be specified in the written instrument of amendment. 
 SECTION 10.02—DIRECT
ROLLOVERS. 
 Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee’s election under this section, a
Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover. 

In the event of a Mandatory Distribution of an Eligible Rollover Distribution greater than $1,000 in accordance with the SMALL AMOUNTS SECTION of this article
(or which is a small amounts payment under Article VIII at complete termination of the Plan), if the Participant does not elect to have such distribution paid directly to an Eligible Retirement Plan specified by the Participant in a Direct Rollover
or to receive the distribution directly, the Plan Administrator will pay the distribution in a Direct Rollover to an individual retirement plan designated by the Plan Administrator. For purposes of determining whether a Mandatory Distribution is
greater than $1,000, a Designated Roth Account and all other accounts under the Plan shall be treated as accounts held under two separate plans and shall not be combined. 

In the event of any other Eligible Rollover Distribution to a Distributee in accordance with the SMALL AMOUNTS SECTION of this article (or which is a small
amounts payment under Article VIII at complete termination of the Plan), if the Distributee does not elect to have such distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover or to receive the
distribution directly, the Plan Administrator will pay the distribution to the Distributee. 
 SECTION 10.03—MERGERS AND DIRECT TRANSFERS. 

The Plan may not be merged or consolidated with, nor have its assets or liabilities transferred to, any other retirement plan, unless each Participant in this
Plan would (if that plan then terminated) receive a benefit immediately after the merger, consolidation, or transfer that is equal to or greater than the benefit the Participant would have been entitled to receive immediately before the merger,
consolidation, or transfer (if this Plan had then terminated). The Employer may enter into merger agreements or direct transfer of assets 

  

					
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agreements with the employers under other retirement plans which are qualifiable under Code Section 401(a), including an elective transfer, and may accept the direct transfer of plan assets,
or may transfer plan assets, as a party to any such agreement. The Employer shall not consent to, or be a party to a merger, consolidation, or transfer of assets with a defined benefit plan if such action would result in a defined benefit feature
being maintained under this Plan. The Employer will not transfer any amounts attributable to elective deferral contributions, qualified matching contributions, qualified nonelective contributions, and contributions used to satisfy Code
Section 401(k)(13) safe harbors unless the transferee plan provides that the limitations of section 1.401(k)-1(d) of the regulations shall apply to such amounts (including post-transfer earnings thereon),
unless the amounts could have been distributed at the time of the transfer (other than for hardships as described in the WITHDRAWAL BENEFITS SECTION of Article V or deemed severance from employment as described in the VESTED BENEFITS SECTION of
Article V), and the transfer is an elective transfer described in Q&A-3(b)(1) in section 1.411(d)-4 of the regulations. 

Notwithstanding any provision of the Plan to the contrary, to the extent any optional form of benefit under the Plan permits a distribution prior to the
Employee’s retirement, death, disability, or Severance from Employment, and prior to plan termination, the optional form of benefit is not available with respect to benefits attributable to assets (including the post-transfer earnings thereon)
and liabilities that are transferred, within the meaning of Code Section 414(1), to this Plan from a money purchase pension plan qualified under Code Section 401(a) (other than any portion of those assets and liabilities attributable to
voluntary employee contributions). The limitations of section 1.401(k)-1(d) of the regulations applicable to elective deferral contributions, qualified matching contributions, qualified nonelective
contributions, and contributions used to satisfy Code Section 401(k)(13) safe harbors shall continue to apply to any amounts attributable to such contributions (including post-transfer earnings thereon) transferred to this Plan, unless the
amounts could have been distributed at the time of the transfer (other than for hardships as described in the WITHDRAWAL BENEFITS SECTION of Article V or deemed severance from employment as described in the VESTED BENEFITS SECTION of Article V), and
the transfer is an elective transfer described in Q&A-3(b)(1) in section 1.411(d)-4 of the regulations. 

The Plan may accept a direct transfer of plan assets on behalf of an Eligible Employee. If the Eligible Employee is not an Active Participant when the
transfer is made, the Eligible Employee shall be deemed to be an Active Participant only for the purpose of investment and distribution of the transferred assets. Employer Contributions shall not be made for or allocated to the Eligible Employee and
he may not make Participant Contributions, until the time he meets all of the requirements to become an Active Participant. 
 The Plan shall hold,
administer, and distribute the transferred assets as a part of the Plan. The Plan shall maintain a separate account for the benefit of the Employee on whose behalf the Plan accepted the transfer in order to reflect the value of the transferred
assets. 
 A Participant’s section 411(d)(6) protected benefits, as defined in Q&A-1 in section 1.411(d)-4 of the regulations, may not be eliminated by reason of transfer or any transaction amending or having the effect of amending a plan or plans to transfer benefits except as provided below. 

A Participant’s section 411(d)(6) protected benefits may be eliminated or reduced upon transfer between qualified defined contribution plans if the
conditions in Q&A-3(b)(1) in section 1.411(d)-4 of the regulations are met. The transfer must meet all of the other applicable qualification requirements. 

A Participant’s section 411(d)(6) protected benefits may be eliminated or reduced if a transfer is an elective transfer of certain distributable benefits
between qualified plans (both defined benefit and defined contribution) and the conditions in Q&A-3(c)(1) in section 1.411(d)-4 of the regulations are met. The rules
applicable to distributions under the plan would apply to the transfer, but the transfer would not be treated as a distribution for purposes of the minimum distribution requirements of Code Section 401(a)(9). If the

  

					
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 Participant is eligible to receive an immediate distribution of his entire Vested Account in a single sum
distribution that would consist entirely of an eligible rollover distribution under Code Section 401(a)(31), such transfer will be accomplished as a direct rollover under Code Section 401(a)(31). 

SECTION 10.04—PROVISIONS RELATING TO THE INSURER AND OTHER PARTIES. 

The obligations of an Insurer shall be governed solely by the provisions of the Annuity Contract. The Insurer shall not be required to perform any act not
provided in or contrary to the provisions of the Annuity Contract. Each Annuity Contract when purchased shall comply with the Plan. See the CONSTRUCTION SECTION of this article. 

Any issuer or distributor of investment contracts or securities is governed solely by the terms of its policies, written investment contract, prospectuses,
security instruments, and any other written agreements entered into with the Trustee with regard to such investment contracts or securities. 
 Such
Insurer, issuer or distributor is not a party to the Plan, nor bound in any way by the Plan provisions. Such parties shall not be required to look to the terms of this Plan, nor to determine whether the Employer, the Plan Administrator, the Trustee,
or the Named Fiduciary have the authority to act in any particular manner or to make any contract or agreement. 
 Until notice of any amendment or
termination of this Plan or a change in Trustee has been received by the Insurer at its home office or an issuer or distributor at their principal address, they are and shall be fully protected in assuming that the Plan has not been amended or
terminated and in dealing with any party acting as Trustee according to the latest information which they have received at their home office or principal address. 

SECTION 10.05—EMPLOYMENT STATUS. 
 Nothing contained
in this Plan gives an Employee the right to be retained in the Employer’s employ or to interfere with the Employer’s right to discharge any Employee. 

SECTION 10.06—RIGHTS TO PLAN ASSETS. 
 An Employee
shall not have any right to or interest in any assets of the Plan upon termination of employment or otherwise except as specifically provided under this Plan, and then only to the extent of the benefits payable to such Employee according to the Plan
provisions. 
 Any final payment or distribution to a Participant or his legal representative or to any Beneficiaries of such Participant under the Plan
provisions shall be in full satisfaction of all claims against the Plan, the Named Fiduciary, the Plan Administrator, the Insurer, the Trustee, and the Employer arising under or by virtue of the Plan. 

SECTION 10.07—BENEFICIARY. 
 Each Participant may
name a Beneficiary to receive any death benefit that may arise out of his participation in the Plan. The Participant may change his Beneficiary from time to time. Unless a qualified election has been made, for purposes of distributing any death
benefits before the Participant’s Retirement Date, the Beneficiary of a Participant who has a spouse shall be the Participant’s spouse. The Participant’s Beneficiary designation and any change of Beneficiary shall be subject to the
provisions of the ELECTION PROCEDURES SECTION of Article VI. 

  

					
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 It is the responsibility of the Participant to give written notice to the Plan Administrator of the name of
the Beneficiary on a form furnished for that purpose. The Plan Administrator shall maintain records of Beneficiary designations for Participants before their Retirement Dates. However, the Plan Administrator may delegate to another party the
responsibility of maintaining records of Beneficiary designations. In that event, the written designations made by Participants shall be filed with such other party. If a party other than the Insurer maintains the records of Beneficiary designations
and a Participant dies before his Retirement Date, such other party shall certify to the Insurer the Beneficiary designation on its records for the Participant. 

If there is no Beneficiary named or surviving when a Participant dies, the Participant’s Beneficiary shall be the Participant’s surviving spouse, or
where there is no surviving spouse, the executor or administrator of the Participant’s estate for the benefit of the estate. 
 SECTION
10.08—NONALIENATION OF BENEFITS. 
 Benefits payable under the Plan are not subject to the claims of any creditor of any Participant, Beneficiary,
spouse, or Contingent Annuitant. A Participant, Beneficiary, spouse, or Contingent Annuitant does not have any rights to alienate, anticipate, commute, pledge, encumber, or assign such benefits. Such restrictions do not apply in the case of a loan
as provided in the LOANS TO PARTICIPANTS SECTION of Article V. The preceding sentences shall also apply to the creation, assignment, or recognition of a right to any benefit payable with respect to a Participant according to a domestic relations
order, unless such order is determined by the Plan Administrator to be a qualified domestic relations order, as defined in Code Section 414(p), or any domestic relations order entered before January 1, 1985. The preceding sentences shall
not apply to any offset of a Participant’s benefits provided under the Plan against an amount the Participant is required to pay the Plan with respect to a judgment, order, or decree issued, or a settlement entered into, on or after
August 5, 1997, which meets the requirements of Code Sections 401(a)(13)(C) or (D). 
 SECTION 10.09—CONSTRUCTION. 

The validity of the Plan or any of its provisions is determined under and construed according to Federal law and, to the extent permissible, according to the
laws of the state in which the Employer has its principal office. In case any provision of this Plan is held illegal or invalid for any reason, such determination shall not affect the remaining provisions of this Plan, and the Plan shall be
construed and enforced as if the illegal or invalid provision had never been included. 
 In the event of any conflict between the provisions of the Plan
and the terms of any Annuity Contract issued hereunder, the provisions of the Plan control. 
 SECTION 10.10—LEGAL ACTIONS. 

No person employed by the Employer; no Participant, former Participant, or their Beneficiaries; nor any other person having or claiming to have an interest in
the Plan is entitled to any notice of process. A final judgment entered in any such action or proceeding shall be binding and conclusive on all persons having or claiming to have an interest in the Plan. Should any Participant, Beneficiary, or other
person claiming an interest in the Plan pursue a legal action against the Plan, such legal action may not be brought more than two years following the date such cause of action or proceeding arose. 

  

					
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 SECTION 10.11—SMALL AMOUNTS. 

If the value of the Participant’s Vested Account does not exceed $5,000, the Participant’s entire Vested Account shall be distributed as of the
earliest of his Retirement Date, the date he dies, or the date he has a Severance from Employment for any other reason (the date the Employer provides notice to the record keeper of the Plan of such event, if later). For purposes of this section, if
the Participant’s Vested Account is zero, the Participant shall be deemed to have received a distribution of such Vested Account. This is a small amounts payment. 

In the event a Participant does not elect to have a small amounts payment paid directly to an Eligible Retirement Plan specified by the Participant in a
Direct Rollover or to receive the distribution directly and his Vested Account is greater than $1,000, a Mandatory Distribution will be made in accordance with the DIRECT ROLLOVERS SECTION of this article. If his Vested Account is $1,000 or less,
the Participant’s entire Vested Account shall be paid directly to him. 
 If a small amounts payment is made on or after the date the Participant dies,
the small amounts payment shall be made to the Participant’s Beneficiary. If a small amounts payment is made while the Participant is living, the small amounts payment shall be made to the Participant. 

The small amounts payment is in full settlement of all benefits otherwise payable. No other small amounts payment shall be made. 

SECTION 10.12—WORD USAGE. 
 The masculine gender,
where used in this Plan, shall include the feminine gender and the singular words, where used in this Plan, shall include the plural, unless the context indicates otherwise. 

The words “in writing” and “written,” where used in this Plan, shall include any other forms (such as voice response or other electronic
system) as permitted by any governmental agency to which the Plan is subject. 
 SECTION 10.13—CHANGE IN SERVICE METHOD. 

 

	(a)	 Change of Service Method Under This Plan. If this Plan is amended to change the method of crediting
service from the elapsed time method to the hours method for any purpose under this Plan, the Employee’s service shall be equal to the sum of (1), (2), and (3) below: 

 

	 	(1)	 The number of whole years of service credited to the Employee under the Plan as of the date the change is
effective. 

  

	 	(2)	 One year of service for the computation period in which the change is effective if he is credited with the
required number of Hours of Service. For that portion of the computation period ending on the date of the change (for the first day of the computation period if the change is made on the first day of the computation period), the Employee will be
credited with the greater of (i) his actual Hours of Service or (ii) the number of Hours of Service that is equivalent to the fractional part of a year of elapsed time service credited as of the date of the change, if any. In determining
the equivalent Hours of Service, the Employee shall be credited with 190 Hours of Service for each month and any fractional part of a month in such fractional part of a year. The number of months and any fractional part of a month shall be
determined by multiplying the fractional part of a year, expressed as a decimal, by 12. For the remaining portion of the computation period (the period beginning on the second day of

  

					
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the computation period and ending on the last day of the computation period if the change is made on the first day of the computation period), the Employee will be credited with his actual Hours
of Service. 

  

	 	(3)	 The Employee’s service determined under this Plan using the hours method after the end of the computation
period in which the change in service method was effective. 

 If this Plan is amended to change the method of crediting
service from the hours method to the elapsed time method for any purpose under this Plan, the Employee’s service shall be equal to the sum of (4), (5), and (6) below: 

 

	 	(4)	 The number of whole years of service credited to the Employee under the Plan as of the beginning of the
computation period in which the change in service method is effective. 

  

	 	(5)	 The greater of (i) the service that would be credited to the Employee for that entire computation period
using the elapsed time method or (ii) the service credited to him under the Plan as of the date the change is effective. 

  

	 	(6)	 The Employee’s service determined under this Plan using the elapsed time method after the end of the
applicable computation period in which the change in service method was effective. 

  

	(b)	 Transfers Between Plans with Different Service Methods. If an Employee has been a participant in another plan
of the Employer that credited service under the elapsed time method for any purpose that under this Plan is determined using the hours method, then the Employee’s service shall be equal to the sum of (1), (2), and (3) below:

  

	 	(1)	 The number of whole years of service credited to the Employee under the other plan as of the date he became an
Eligible Employee under this Plan. 

  

	 	(2)	 One year of service for the applicable computation period in which he became an Eligible Employee if he is
credited with the required number of Hours of Service. For that portion of such computation period ending on the date he became an Eligible Employee (for the first day of such computation period if he became an Eligible Employee on the first day of
such computation period), the Employee will be credited with the greater of (i) his actual Hours of Service or (ii) the number of Hours of Service that is equivalent to the fractional part of a year of elapsed time service credited as of
the date he became an Eligible Employee, if any. In determining the equivalent Hours of Service, the Employee shall be credited with 190 Hours of Service for each month and any fractional part of a month in such fractional part of a year. The number
of months and any fractional part of a month shall be determined by multiplying the fractional part of a year, expressed as a decimal, by 12. For the remaining portion of such computation period (the period beginning on the second day of such
computation period and ending on the last day of such computation period if he became an Eligible Employee on the first day of such computation period), the Employee will be credited with his actual Hours of Service. 

 

	 	(3)	 The Employee’s service determined under this Plan using the hours method after the end of the computation
period in which he became an Eligible Employee. 

  

					
	Amend No. 4 Effective December 31, 2018	 	86	 	Plan ID No. 993915 (7-7695)

 If an Employee has been a participant in another plan of the Employer that credited service
under the hours method for any purpose that under this Plan is determined using the elapsed time method, then the Employee’s service shall be equal to the sum of (4), (5), and (6) below: 

 

	 	(4)	 The number of whole years of service credited to the Employee under the other plan as of the beginning of the
computation period under that plan in which he became an Eligible Employee under this Plan. 

  

	 	(5)	 The greater of (i) the service that would be credited to the Employee for that entire computation period
using the elapsed time method or (ii) the service credited to him under the other plan as of the date he became an Eligible Employee under this Plan. 

  

	 	(6)	 The Employee’s service determined under this Plan using the elapsed time method after the end of the
applicable computation period under the other plan in which he became an Eligible Employee. 

 If an Employee has been a participant in a
Controlled Group member’s plan that credited service under a different method than is used in this Plan, in order to determine entry and vesting, the provisions in (b) above shall apply as though the Controlled Group member’s plan was
a plan of the Employer. 
 Any modification of service contained in this Plan shall be applicable to the service determined pursuant to this section. 

SECTION 10.14—MILITARY SERVICE. 
 Notwithstanding any
provision of this Plan to the contrary, the Plan shall provide contributions, benefits, and service credit with respect to Qualified Military Service in accordance with Code Section 414(u). Loan repayments may be suspended under this Plan as
permitted under Code Section 414(u). 
 A Participant who dies on or after January 1, 2007, while performing Qualified Military Service is treated
as having resumed and then terminated employment on account of death, in accordance with Code Section 401(a)(37) and any subsequent guidance. The survivors of such Participant are entitled to any additional benefits provided under the Plan on
account of death of the Participant. 
 SECTION 10.15—QUALIFICATION OF PLAN. 

If the Plan is denied initial qualification upon filing timely application, it will be treated as void from the beginning. It will be terminated and all
amounts contributed to the Plan, less expenses paid, shall be returned to the Employer within one year after the date of denial. If amounts have been contributed by Employees, the Employer shall refund to each Employee the amount made by him or, if
less, the amount then in his Account resulting from such amounts. The Insurer and Trustee shall be discharged from all further obligations. 
 If the Plan
fails to attain or retain qualification, it shall no longer participate in this volume submitter plan and shall be considered an individually designed plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	87	 	Plan ID No. 993915 (7-7695)

 ARTICLE XI 

TOP-HEAVY PLAN REQUIREMENTS 

SECTION 11.01—APPLICATION. 
 The provisions of this
article shall supersede all other provisions in the Plan to the contrary. 
 For the purpose of applying the
Top-heavy Plan requirements of this article, all members of the Controlled Group shall be treated as one Employer. The term Employer, as used in this article, shall be deemed to include all members of the
Controlled Group, unless the term as used clearly indicates only the Employer is meant. 
 The accrued benefit or account of a participant resulting from
deductible employee contributions shall not be included for any purpose under this article. 
 The minimum vesting and contribution provisions of the
MODIFICATION OF VESTING REQUIREMENTS SECTION and the MODIFICATION OF CONTRIBUTIONS SECTION of this article shall not apply to any Employee who is included in a group of Employees covered by a collective bargaining agreement that the Secretary of
Labor finds to be a collective bargaining agreement between employee representatives and one or more employers, including the Employer, if there is evidence that retirement benefits were the subject of good faith bargaining between such
representatives. For this purpose, the term “employee representatives” does not include any organization more than half of whose members are employees who are owners, officers, or executives. 

SECTION 11.02—DEFINITIONS. 
 For purposes of this
article the following terms are defined: 
 Aggregation Group means: 
  

	(a)	 each of the Employer’s qualified plans in which a Key Employee is a participant during the Plan Year
containing the Determination Date or any of the four preceding Plan Years (regardless of whether the plans have terminated), 

  

	(b)	 each of the Employer’s other qualified plans which allows the plan(s) described in (a) above to meet
the nondiscrimination requirement of Code Section 401(a)(4) or the minimum coverage requirement of Code Section 410, and 

  

	(c)	 any of the Employer’s other qualified plans not included in (a) or (b) above which the Employer
desires to include as part of the Aggregation Group. Such a qualified plan shall be included only if the Aggregation Group would continue to satisfy the requirements of Code Sections 401(a)(4) and 410. 

The plans in (a) and (b) above constitute the “required” Aggregation Group. The plans in (a), (b), and (c) above constitute the
“permissive” Aggregation Group. 

  

					
	Amend No. 4 Effective December 31, 2018	 	88	 	Plan ID No. 993915 (7-7695)

 Compensation means compensation as defined in the CONTRIBUTION LIMITATION SECTION of Article III.

 Determination Date means as to any plan, for any plan year subsequent to the first plan year, the last day of the preceding plan year. For the
first plan year of the plan, the Determination Date is the last day of that year. 
 Key Employee means any Employee or former Employee (including
any deceased Employee) who at any time during the Plan Year that includes the Determination Date is: 
  

	(a)	 an officer of the Employer having Compensation for the Plan Year greater than $130,000 (as adjusted under Code
Section 416(i)(1) for Plan Years beginning after December 31, 2002), 

  

	(b)	 a 5-percent owner of the Employer, or 

 

	(c)	 a 1-percent owner of the Employer having Compensation for the Plan Year
of more than $150,000. 

 The determination of who is a Key Employee shall be made according to Code Section 416(i)(1) and the
applicable regulations and other guidance of general applicability issued thereunder. 
 Nonkey Employee means any Employee who is not a Key
Employee. 
 Top-heavy Plan means a plan that is top-heavy for any
plan year. This Plan shall be top-heavy if any of the following conditions exist: 
  

	(a)	 The Top-heavy Ratio for this Plan exceeds 60 percent and this Plan
is not part of any required Aggregation Group or permissive Aggregation Group. 

  

	(b)	 This Plan is a part of a required Aggregation Group, but not part of a permissive Aggregation Group, and the Top-heavy Ratio for the required Aggregation Group exceeds 60 percent. 

  

	(c)	 This Plan is a part of a required Aggregation Group and part of a permissive Aggregation Group and the Top-heavy Ratio for the permissive Aggregation Group exceeds 60 percent. 

 Top-heavy Ratio means: 
  

	(a)	 If the Employer maintains one or more defined contribution plans (including any simplified employee pension
plan) and the Employer has not maintained any defined benefit plan that during the five-year period ending on the Determination Date(s) has or has had accrued benefits, the Top-heavy Ratio for this Plan alone
or for the required or permissive Aggregation Group, as appropriate, is a fraction, the numerator of which is the sum of the account balances of all Key Employees as of the Determination Date(s) (including any part of any account balance distributed
in the one-year period ending on the Determination Date(s) and distributions under a terminated plan which if it had not been terminated would have been required to be included in the Aggregation Group), and
the denominator of which is the sum of all account balances (including any part of any account balance distributed in the one-year period ending on the Determination Date(s) and distributions under a
terminated plan which if it had not been terminated would have been required to be included in the Aggregation Group), both computed in accordance with Code Section 416 and the regulations thereunder. In the case of a distribution made for a
reason other than Severance from Employment, death, or disability, this provision shall be applied by substituting “five-year period” for “one-year

  

					
	Amend No. 4 Effective December 31, 2018	 	89	 	Plan ID No. 993915 (7-7695)

	 	
period.” Both the numerator and denominator of the Top-heavy Ratio are increased to reflect any contribution not actually made as of the Determination
Date, but which is required to be taken into account on that date under Code Section 416 and the regulations thereunder. 

  

	(b)	 If the Employer maintains one or more defined contribution plans (including any simplified employee pension
plan) and the Employer maintains or has maintained one or more defined benefit plans that during the five-year period ending on the Determination Date(s) has or has had accrued benefits, the Top-heavy Ratio
for any required or permissive Aggregation Group, as appropriate, is a fraction, the numerator of which is the sum of the account balances under the aggregated defined contribution plan or plans of all Key Employees, determined in accordance with
(a) above, and the present value of accrued benefits under the aggregated defined benefit plan or plans for all Key Employees as of the Determination Date(s), and the denominator of which is the sum of the account balances under the aggregated
defined contribution plan or plans for all participants, determined in accordance with (a) above, and the present value of accrued benefits under the defined benefit plan or plans for all participants as of the Determination Date(s), all
determined in accordance with Code Section 416 and the regulations thereunder. The accrued benefits under a defined benefit plan in both the numerator and denominator of the Top-heavy Ratio are increased
for any distribution of an accrued benefit made in the one-year period ending on the Determination Date (and distributions under a terminated plan which if it had not been terminated would have been required
to be included in the Aggregation Group). In the case of a distribution made for a reason other than Severance from Employment, death, or disability, this provision shall be applied by substituting “five-year period” for “one-year period.” 

  

	(c)	 For purposes of (a) and (b) above, the value of account balances and the present value of accrued benefits
will be determined as of the most recent Valuation Date that falls within or ends with the 12- month period ending on the Determination Date, except as provided in Code Section 416 and the regulations
thereunder for the first and second plan years of a defined benefit plan. The account balances and accrued benefits of a participant (i) who is not a Key Employee but who was a Key Employee in a prior year or (ii) who has not been credited
with at least one hour of service with any employer maintaining the plan at any time during the one-year period (five-year period in determining whether the plan is
top-heavy for plan years beginning before January 1, 2002) ending on the Determination Date will be disregarded. The calculation of the Top-heavy Ratio and the
extent to which distributions, rollovers, and transfers are taken into account will be made in accordance with Code Section 416 and the regulations thereunder. Deductible employee contributions will not be taken into account for purposes of
computing the Top-heavy Ratio. When aggregating plans, the value of account balances and accrued benefits will be calculated with reference to the Determination Dates that fall within the same calendar year.

 The accrued benefit of a participant other than a Key Employee shall be determined under (i) the method, if any, that uniformly
applies for accrual purposes under all defined benefit plans maintained by the Employer,· or (ii) if there is no such method, as if such benefit accrued not more rapidly than the slowest accrual rate permitted under the fractional rule
of Code Section 411(b)(1)(C). 
 SECTION 11.03—MODIFICATION OF VESTING REQUIREMENTS. 

A Participant’s Vesting Percentage is at all times at least as great as the Vesting Percentage required to satisfy the requirements of Code
Section 416. The part of the Participant’s Account resulting from the minimum contributions required pursuant to the MODIFICATION OF CONTRIBUTIONS SECTION of this article will vest according to the vesting schedule selected in the
definition of Vesting Percentage in the DEFINITIONS SECTION of Article I. If no schedule is selected in such definition, the minimum contribution (and earnings thereon) will be 100% vested and nonforfeitable. 

  

					
	Amend No. 4 Effective December 31, 2018	 	90	 	Plan ID No. 993915 (7-7695)

 The part of the Participant’s Vested Account resulting from the minimum contributions required pursuant
to the MODIFICATION OF CONTRIBUTIONS SECTION of this article (to the extent required to be nonforfeitable under Code Section 416(b)) may not be forfeited under Code Section 411(a)(3)(B) or (D). 

SECTION 11.04—MODIFICATION OF CONTRIBUTIONS. 
 During
any Plan Year in which this Plan is a Top-heavy Plan, the Employer shall make a minimum contribution as of the last day of the Plan Year for each Nonkey Employee who is an Employee on the last day of the Plan
Year and who was an Active Participant at any time during the Plan Year. A Nonkey Employee is not required to have a minimum number of Hours of Service or minimum amount of Compensation in order to be entitled to this minimum. A Nonkey Employee who
fails to be an Active Participant merely because his Compensation is less than a stated amount or merely because of a failure to make mandatory participant contributions or, in the case of a cash or deferred arrangement, elective contributions shall
be treated as if he were an Active Participant. The minimum is the lesser of (a) or (b) below: 
  

	(a)	 3 percent of such person’s Compensation for such Plan Year. 

 

	(b)	 The “highest percentage” of Compensation for such Plan Year at which the Employer’s
Contributions are made for or allocated to any Key Employee. The highest percentage shall be determined by dividing the Employer Contributions made for or allocated to each Key Employee during the Plan Year by the amount of his Compensation for such
Plan Year, and selecting the greatest quotient (expressed as a percentage). To determine the highest percentage, all of the Employer’s defined contribution plans within the Aggregation Group shall be treated as one plan. The minimum shall be
the amount in (a) above if this Plan and a defined benefit plan of the Employer are required to be included in the Aggregation Group and this Plan enables the defined benefit plan to meet the requirements of Code Section 401(a)(4) or 410.

 For purposes of (a) and (b) above, Compensation shall be limited by Code Section 401(a)(17). 

If the Employer’s contributions and allocations otherwise required under the defined contribution plan(s) are at least equal to the minimum above, no
additional contribution shall be required. If the Employer’s total contributions and allocations are less than the minimum above, the Employer shall contribute the difference for the Plan Year. 

The minimum contribution applies to all of the Employer’s defined contribution plans in the aggregate which are
Top-heavy Plans. A minimum contribution under a profit sharing plan shall be made without regard to whether or not the Employer has profits. 

If a person who is otherwise entitled to a minimum contribution above is also covered under another defined contribution plan of the Employer’s which is
a Top-heavy Plan during that same Plan Year, any additional contribution required to meet the minimum above shall be provided in this Plan. 

If a person who is otherwise entitled to a minimum contribution above is also covered under a defined benefit plan of the Employer’s that is within the
Aggregation Group and this Plan is a Top-heavy Plan during that same Plan Year, the minimum benefits for him shall not be duplicated. The defined benefit plan shall provide an annual benefit for him on, or
adjusted to, a straight life basis equal to the lesser of: 
  

	(c)	 2 percent of his average compensation multiplied by his years of service, or 

  

					
	Amend No. 4 Effective December 31, 2018	 	91	 	Plan ID No. 993915 (7-7695)

	(d)	 20 percent of his average compensation. 

Average compensation and years of service shall have the meaning set forth in such defined benefit plan for this purpose. 

For purposes of this section, any employer contribution made according to a salary reduction or similar arrangement shall not apply in determining if the
minimum contribution requirement has been met, but shall apply in determining the minimum contribution required. Matching contributions, as defined in Code Section 401(m), shall be taken into account for purposes of satisfying the minimum
contribution requirements of Code Section 416(c)(2) and the Plan. Matching contributions that are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the actual contribution
percentage test and other requirements of Code Section 401(m). 
 The requirements of this section shall be met without regard to any Social Security
contribution. 

  

					
	Amend No. 4 Effective December 31, 2018	 	92	 	Plan ID No. 993915 (7-7695)

 ARTICLE XII 

TRUST PROVISIONS 
 The Plan includes the
attached Principal Financial Group pre-approved Trust Agreement. 
 The Trust Fund shall be administered according
to the provisions of such trust agreement. The provisions of the Trust Agreement shall apply to all adopting employers. No other trust agreement may be used as long as the Plan continues to be a Principal Financial Group 401(k) Volume Submitter
Plan. 

  

					
	Amend No. 4 Effective December 31, 2018	 	93	 	Plan ID No. 993915 (7-7695)

 SIGNATURES 

Failure to properly complete or amend this volume submitter plan may result in disqualification of this Plan. Principal Life Insurance Company will inform you
of any amendments made to the Plan or of the discontinuance or abandonment of the Plan. The address and telephone number of Principal Life Insurance Company is 711 High Street, Des Moines, Iowa 50392-0001; 1-800-543-4015, extension 51238. 
 The Employer may rely on an advisory letter issued by the Internal Revenue
Service as evidence that this Plan is qualified under Code Section 401 only to the extent provided in Revenue Procedure 2011-49. 

The Employer may not rely on an advisory letter in other circumstances or with respect to certain qualification requirements which are specified in the
advisory letter issued with respect to the Plan and in Revenue Procedure 2011-49. 
 In order to have reliance in
such circumstances or with respect to such qualification requirements, application for a determination letter must be made to Employee Plans Determinations of the Internal Revenue Service. 

The Primary Employer adopts the Principal Financial Group 401(k) Volume Submitter Specimen Plan for the exclusive benefit of its Employees. Selections and
specifications contained in this document constitute the Plan of the Primary Employer. 
 It is understood that Principal Life Insurance Company is not a
party to the Plan and shall not be responsible for any tax or legal aspects of the Plan. The Primary Employer assumes responsibility for these matters. The obligations of Principal Life Insurance Company shall be governed solely by the provisions of
its contracts and policies. Principal Life Insurance Company shall not be required to look into any action taken by the Plan Administrator, Named Fiduciary, Trustee, Investment Manager, or the Primary Employer and shall be fully protected in taking,
permitting or omitting any action on the basis of the Primary Employer’s actions. Principal Life Insurance Company shall incur no liability or responsibility for carrying out actions as directed by the Plan Administrator, Named Fiduciary,
Trustee, Investment Manager or the Primary Employer. 
 By executing this Plan, the Primary Employer acknowledges having counseled to the extent necessary
with selected legal and tax advisors regarding the Plan’s legal and tax implications. The Primary Employer also certifies diligent efforts have been made to provide a copy of this Plan document to each Adopting Employer and each Trustee and
that proper signatures will be obtained on the attached Trust Agreement. 
  

			
	Executed this 28 day of January, 2019.
	
	Popular, Inc.
		
	By:	 	 /s/ Eduardo J. Negron Mendez

	Name:	 	Eduardo J. Negron Mendez
	Title:	 	Executive Vice President

  

					
	Amend No. 4 Effective December 31, 2018	 	94	 	Plan ID No. 993915 (7-7695)

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