Document:

<PAGE>
                                                                   EXHIBIT 10.62

--------------------------------------------------------------------------------
                         METLIFE DEFERRED COMPENSATION PLAN

                                                       2002
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                                  For Officers

<PAGE>

DEFERRED COMPENSATION
PLAN FOR OFFICERS

The MetLife Deferred Compensation Plan for Officers provides you with the
opportunity to defer receipt of a portion of your compensation to a later date,
reducing gross income in the year of the deferral for purposes of federal and
most state income taxes. A MetLife Plan Committee administers the Deferred
Compensation Plan. This booklet will serve as the plan document.

QUESTIONS?

Nonqualified Plan Services
Sandra Lukowsky
Phone: (877) 855-NQPS (6777), prompt 3
Fax: (314) 444-0428
E-mail: slukowsky@genam.com

                                       i
<PAGE>

                            SUMMARY TABLE OF CONTENTS

<Table>
<Caption>
                                                                PAGE
<S>                                                             <C>
         ELIGIBILITY                                              1

         MAKING A DEFERRAL ELECTION                               2

         DEFERRED COMPENSATION ACCOUNTS                           3

         FUND OPTIONS                                             4

         FUND OBJECTIVES                                         5-6

         DISTRIBUTION OF FUNDS                                   7-8

         BENEFICIARY DESIGNATIONS & MISCELLANEOUS                9-11

         QUESTIONS AND ANSWERS                                  12-15

         PLAN SUMMARY - AT A GLANCE . . .                       16-17
</Table>

                                       ii
<PAGE>

ELIGIBILITY

Officers (as defined by the Plan Committee) of Metropolitan Life Insurance
Company, Metropolitan Property and Casualty Company, MetLife Securities Inc.,
MetLife Trust Company and Association, MetLife Bank National Association, and
Edison Supply and Distribution Inc. are eligible to participate in the Deferred
Compensation Plan for Officers. Also eligible are certain MetLife employees who
had formerly been participants of the GenAmerica Executive Deferred Savings
Plan. Officers appointed during a Plan year will be eligible to participate for
the next Plan year.

If you choose to participate, deferral will begin on January 1 of each year.

ELIGIBLE COMPENSATION

Annual Cash Compensation consisting of: base salary, awards under incentive
compensation plans such as Annual Variable Incentive Plan, Corporate Investments
Incentive Plan, Real Estate Investments Incentive Plan, Agricultural Investments
Incentive Plan, Individual Regional Executive Plan and Institutional Regional
Executive Plan and awards under the Long Term Performance Compensation Plan or
equivalent incentive plans may be deferred. The Company reserves the right to
restrict the amount of deferral so that it does not exceed any legal limits. The
deferral of base salary may be expressed as either a dollar amount or a
percentage, but cannot exceed 75% of base salary. The deferral of any incentive
payment may be expressed only as a percentage up to 100%. The minimum amount
that may be deferred is 5% of Annual Cash Compensation, but not less than
$5,000.

FICA, Medicare, and any other taxes which are due in the year deferred amounts
would have otherwise been payable will be paid from your other compensation.

The amount you elect to defer may be limited if other compensation is not
sufficient to cover FICA, Medicare and other required taxes as well as
deductions for MetLife Options and other benefit programs.

                                       1
<PAGE>

MAKING A
DEFERRAL ELECTION

To designate a deferral, you must complete the on-line Deferral Election Form by
the due date outlined in the Enrollment Instructions. This due date will be
prior to the year in which the deferred amounts would have been otherwise paid.

Deferral of base salary amounts will begin with the first January payroll period
and end with the last December payroll period in the year following the deferral
election.

IN ADDITION TO INDICATING THE AMOUNT TO BE DEFERRED, YOU MUST ALSO DECIDE:

o        THE INVESTMENT OPTION -Earnings (gains or losses) will be credited to
         participant's accounts in accordance with the performance of the funds
         selected. Investment choices may be changed up to six times per year,
         as provided in the Fund Options section.

o        THE DISTRIBUTION DATE -This cannot be less than three years after the
         year of deferral. Once you have designated a distribution date, this
         decision cannot be changed, except as otherwise provided in the
         Distribution of Funds section.

o        THE DISTRIBUTION METHOD -Payment may be in a single lump sum, or up to
         fifteen annual installments. Once you have designated a distribution
         method, this decision cannot be changed, except as otherwise provided
         in the Plan. Refer to the Distribution of Funds section of this
         document for more information on distributions.

                                       2
<PAGE>

DEFERRED COMPENSATION
ACCOUNTS

An account will be established for the annual deferrals of each participant in
the Deferred Compensation Plan. These accounts are unfunded, meaning any amounts
credited to the accounts will be solely for record-keeping purposes and will not
be considered to be held in trust or in escrow or in any way vested to the
participant.

The maintenance of such account will not give you any right or security interest
in any asset of MetLife. Any asset invested by MetLife in connection with this
plan shall at all times be subject to the claims of the general creditors of
MetLife. Your deferral amounts are also subject to the claims of the general
creditors of MetLife.

The amount deferred will be credited to the deferral account at the end of each
period in which the funds would otherwise have been paid. Your account will be
credited with investment income and losses, which will reflect the actual
experience of the funds, selected. The available funds are described in the Fund
Objective section of this booklet. It is within the discretion of the Company
whether actual investment of your deferrals is made according to your stated
preferences. However, the funds you select will be used as a device for
determining investment returns to your account. Your investment returns will
"mirror" the actual performance of the funds you choose.

Your deferrals are subject to investment risk. As with any investment, if the
returns on the funds you choose are positive, your account balance will grow. If
the returns are negative, your account balance will diminish. Please review the
investment objectives of the various funds before making your decision.

If you participate in this Plan and the Savings and Investment Plan (SIP) the
company currently provides a 4% matching contribution for deferrals of salary
and incentive compensation (the Long Term Incentive Plan is not eligible for
matching contributions) after one year of employment with the company. The
matching account is subject to the same vesting schedule as the Savings and
Investment Plan. The matching contribution, if applicable, will be credited to
your matching account at the same time the corresponding deferral is credited to
your deferral account. Your matching account will mirror the fund selection of
your deferred amounts. The company reserves the right to discontinue the
matching contribution at any time.

                                       3
<PAGE>

FUND OPTIONS

PARTICIPANTS MAY CHOOSE AMONG THE FOLLOWING INVESTMENT FUND OPTIONS:

<Table>
<Caption>
ACTIVELY MANAGED FUNDS                    MARKET INDEX OPTIONS
----------------------                    --------------------
<S>                                       <C>
MetLife SIP Fixed Income Fund             S&P 500
Loomis Sayles Bond Fund                   Russell 2000(R)
Oakmark Fund                              NASDAQ Composite
MetLife SIP Small Company Stock Fund      MSCI-EAFE(R)
Oakmark International Portfolio           Lehman-Brothers Aggregate
                                          Merrill Lynch US HighYield Master II
                                          MSCI Emerging Market Free Index
</Table>

See the Fund Objectives section for information about the investment options,
including investment objectives.

Elections must be made in multiples of 5%. The participant may change investment
choices up to six times each year, by contacting Nonqualified Plan Services at
(877) 855-6777 or fax (314) 444-0428. The changes will be made as of the
business day your written request is received, if received before the close of
the market for that day or as of the next business day, if received after the
close of the market for that day. You will receive a confirmation statement
within two weeks.

MetLife (or its successor) retains the discretion to change or eliminate any or
all of the available investment options and to unilaterally impose any other
measure of earnings, which the Company deems to be appropriate. MetLife (or its
successor) also retains the discretion to amend or eliminate the procedure for
making investment elections.

                                       4
<PAGE>

FUND OBJECTIVES

ACTIVELY MANAGED FUNDS

Following are brief descriptions of the investment objectives of each of the
actively managed funds:

METLIFE SIP FIXED INCOME FUND

         This portfolio seeks to achieve the highest possible current income
         consistent with the preservation of capital and predictable growth
         through a guaranteed interest rate by investing in Guaranteed Interest
         Contracts or similar contracts.

LOOMIS SAYLES BOND FUND

         This portfolio seeks to achieve high total return through current
         income and capital appreciation, by investing primarily in debt
         securities including convertibles. At least 65% of its total assets
         will normally be invested in bonds. Up to 35% of its assets may be
         invested in securities of below investment-grade quality, and up to 20%
         of assets may be invested in preferred stocks. SEE NOTE l, on next
         page.

OAKMARK FUND

         This portfolio seeks to achieve high total return through long-term
         growth of capital appreciation by investing primarily in equity
         securities. Up to 25% of its total assets may be invested in securities
         of non-U.S. issuers, but no more than 5% of assets are expected to be
         invested in emerging markets.

METLIFE SIP SMALL COMPANY STOCK FUND

         This portfolio seeks to achieve high total return through long-term
         growth of capital appreciation by investing in the stocks of small U.S.
         companies with strong growth potential. SEE NOTE 2, on next page.

OAKMARK INTERNATIONAL PORTFOLIO

         This portfolio seeks to achieve high total return through long-term
         growth of capital appreciation by investing in the stocks of
         international equity securities of mature markets, less developed
         markets, and in selected emerging markets. There are no limits on the
         geographic asset distribution. At least 65% of its total assets will
         normally be invested in non-U.S. issuers. SEE NOTE 3, on next page.

                                       5
<PAGE>

   MARKET INDEX OPTIONS

The investment objective of each of these funds is to seek to match the
performance of its index.

S&P 500 INDEX

     An index of the 500 largest capitalized stocks in the United States that is
     widely recognized as a guide to the overall health of the U.S. stock
     market.

RUSSELL 2000(R)

     This Index measures stock performance of 2000 smaller U.S. companies with
     market capitalization under $1.5 billion. SEE NOTE 2.

NASDAQ COMPOSITE INDEX

     A market capitalization-weighted index that is designed to represent the
     performance of the National Market System which includes over 5,000 stocks
     traded only over-the-counter and not on an exchange. SEE NOTE 4

MSCI-EAFE INDEX(R)

     The Morgan Stanley Capital International Europe, Australasia, Far East
     Index; a widely recognized benchmark of the world stock markets (excluding
     the United States). SEE NOTE 3.

LEHMAN-BROTHERS AGGREGATE BOND INDEX

     A benchmark index made up of the Lehman Brothers Government/Corporate Bond
     Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index,
     including securities that are investment-grade quality or higher, have at
     least one year to maturity, and have an outstanding par value of at least
     $100 million.

MERRILL LYNCH US HIGH YIELD MASTER II

     This Index is composed of below grade debt securities, including
     convertibles. SEE NOTE 1.

MSCI EMERGING MARKET FREE INDEX

     The MSCI Emerging Markets Free Index measures the performance of stocks of
     companies in emerging countries in four major regions: Asia, Latin America,
     Eastern Europe and the Middle East/Africa. SEE NOTE 3.

There is no guarantee that any fund will achieve its objective.

   Note 1 -  Lower rated high yield, high-risk securities generally involve
             more credit risk. These securities may also be subject to greater
             market price fluctuations than lower yielding higher rated debt.

   Note 2 -  Investments in small capitalization and emerging growth companies
             involve greater than average risk. Such securities may have
             limited marketability and the issues may have limited product
             lines, markets and financial resources. The value of such
             investments may fluctuate more widely than investments in larger
             more established companies.

   Note 3 -  International stocks contain additional risks that are not
             associates with U.S. domestic issues, such as changes in currency
             exchange rates, different governmental regulations, economic
             conditions and accounting standards.

   Note 4 -  This index is weighted in technology issues. The technology
             industry can be significantly affected by obsolescence, short
             product cycles, falling profits, and prices, and competition from
             new market participants. A choice that is weighted in one sector
             is more volatile than those that diversify across many industry
             sectors.

                                       6
<PAGE>

DISTRIBUTION OF FUNDS

WHEN FUNDS ARE DISTRIBUTED

When completing your election you must designate when payment of your accounts
will commence and the duration of the payment period. Payment of each year's
accounts must begin on the earlier of:

     (A)  no more than 60 days following termination of service as a MetLife
          employee, or

     (B)  on a specific date chosen by the participant, or at some other point
          in time as specifically approved by the Plan Committee.

The earliest date that a participant can choose is January following the third
year after the deferral was completed. For example, the 2002 deferral account
cannot be distributed before the month of January 2006. Actual payment will be
made as early as practical during the selected month.

If you leave the company's employ and immediately become a retiree your account
balance will be distributed to you beginning on the date and under the method
selected by you when you made your deferral elections. For the purpose of this
deferred compensation plan, you will be regarded as a retiree only at the time
that you actually begin receiving pension payments under the MetLife Retirement
Plan or subsidiary retirement plan.

Except as otherwise stated below, if you separate from service voluntarily or
involuntarily prior to becoming eligible for early retirement under the MetLife
Retirement Plan or a subsidiary retirement plan, your entire account will be
paid to you shortly after your termination date. If you receive severance
payments as part of your termination of employment, your entire account will be
distributed when your severance payments are completed.

If you separate from service under a Company severance program prior to
attaining early retirement eligibility under the MetLife Retirement Plan or a
subsidiary retirement plan and pursuant to the terms of the severance program
and the applicable retirement plan you will be considered an early retiree upon
attaining age 55, your account balance will be distributed to you beginning on
the date and under the method selected by you when you made your deferral
elections.

TAXES

Payments are subject to such deductions as may be required in accordance with
all federal, state, and local tax laws and regulations.

                                       7
<PAGE>

FORM OF PAYMENT

The Plan participant may elect to receive the account balance in a lump sum
payment or up to fifteen annual installments. Each annual installment will be a
fraction of the account balance with one being the numerator and the denominator
being the number of remaining payments. Therefore, if you elect to receive ten
annual payments, the first payment is equal to 1/10th of the account balance.
The second year is equal to 1/9th and so on until the final payment is made. The
lump sum payment or first installment payment will be made as soon as practical
following the event initiating the payment (specific date, retirement, etc.),
but not more than 30 days after the event. The remaining annual installments
will be made during the month of the anniversary of the event that initiated the
first payment.

LOANS

No loans can be taken from your account.

HARDSHIP EXCEPTIONS

In the case of extreme hardship, amounts being deferred may be discontinued
and/or payments of the amounts already deferred may be advanced at the
discretion of the Plan Committee. However, the total amount of discontinuance or
payment advanced cannot exceed the funds required to satisfy the financial
consequences of the hardship.

Extreme hardship includes any unforeseeable or extraordinary occurrence or event
caused by an event beyond the control of the participant or beneficiary, such as
illness, disability, accident, or family problems resulting in a participant's
financial need that cannot be met from other assets or normal sources of income.

ACCELERATED DISTRIBUTION FEATURE

You may submit a written request to the Committee for a lump sum distributions
without a hardship, but you must withdraw the full account balance for all years
you made deferrals under the Plan and there will be a 10% penalty forfeited to
the Company. In addition, the distribution will be deemed to be taxable income.
Future deferrals under the Plan will not be permitted until the Plan year
commencing at least three years after the date of the distribution

DEATH OF THE PARTICIPANT

In the event that the participant dies prior to the commencement or completion
of distributions under the plan, the balance of the deferred compensation
account will immediately become due and payable in one lump sum to your
designated beneficiary (as provided in the Beneficiary Designations &
Miscellaneous section)

                                       8
<PAGE>

BENEFICIARY DESIGNATIONS & MISCELLANEOUS

BENEFICIARY DESIGNATIONS

You may designate an individual, a trustee or your estate as beneficiary and you
may change your beneficiary at any time. A beneficiary designation will be valid
as of the date the request is received, and will apply to current and all prior
year deferrals under this plan. If there is no valid beneficiary designation, or
if no designated beneficiary survives the participant, the account balance at
your death shall be paid as soon as practicable to your surviving spouse, and in
the event you are not married at death, to your estate.

NONASSIGNABILITY

Neither the participant nor any designated beneficiary shall have any right to
sell, assign, transfer, pledge or commute any rights under this Plan.

ADMINISTRATION

MetLife through a Plan Committee administers the Plan. The Committee will have
full discretion to interpret and administer the Plan and its decision in any
matter involving the interpretation and application of the Plan will be final
and binding on all parties.

AMENDMENT AND TERMINATION

The Company reserves the right to amend, modify, suspend or terminate this Plan
in whole or in part at any time by action of its Board or by a written
instrument executed by a duly authorized officer of the Company. No amendment
can reduce the account credited to a participant under the Plan as of the
amendment date, except to the extent that the participant agrees in writing to
such reduction.

                                       9
<PAGE>

CHANGE OF CONTROL PROTECTION

You may designate that if there is a "Change of Control" (as defined below) of
the MetLife enterprise and you leave the Company's employ for any reason within
two years after the Change of Control, your entire account balance will be paid
to you shortly after your termination date notwithstanding any election to the
contrary.

"Change of Control." (a) For the purposes of this Agreement, a "Change of
Control" shall be deemed to have occurred if:

         (i)      any Person acquires "beneficial ownership" (within the meaning
                  of Rule 13d-3 under the Securities Exchange Act of 1934, as
                  amended (the "Exchange Act")), directly or indirectly, of
                  securities of the MetLife, Inc. representing 25% or more of
                  the combined Voting Power of the MetLife, Inc.'s securities;

         (ii)     within any 24-month period, the persons who were directors of
                  the MetLife, Inc. at the beginning of such period (the
                  "Incumbent Directors") shall cease to constitute at least a
                  majority of the Board of Directors of the MetLife, Inc. (the
                  "Board") or the board of directors of any successor to the
                  MetLife, Inc.; provided, however, that any director elected or
                  nominated for election to the Board by a majority of the
                  Incumbent Directors then still in office shall be deemed to be
                  an Incumbent Director for purposes of this subclause (a)(ii);

         (iii)    the stockholders of the MetLife, Inc. approve a merger,
                  consolidation, share exchange, division, sale or other
                  disposition of all or substantially all of the assets of the
                  MetLife, Inc. which is consummated (a "Corporate Event"), and
                  immediately following the consummation of which the
                  stockholders of the MetLife, Inc. immediately prior to such
                  Corporate Event do not hold, directly or indirectly, a
                  majority of the Voting Power of (x) in the case of a merger or
                  consolidation, the surviving or resulting corporation, (y) in
                  the case of a share exchange, the acquiring corporation or (z)
                  in the case of a division or a sale or other disposition of
                  assets, each surviving, resulting or acquiring corporation
                  which, immediately following the relevant Corporate Event,
                  holds more than 25% of the consolidated assets of the MetLife,
                  Inc. immediately prior to such Corporate Event; or

         (iv)     any other event occurs which the Board declares to be a Change
                  of Control.

                                       10
<PAGE>

(b)      Person. For purposes of the definition of Change of Control, "Person"
         shall have the meaning ascribed to such term in Section 3(a)(9) of the
         Exchange Act, as supplemented by Section 13(d)(3) of the Exchange Act,
         and shall include any group (within the meaning of Rule 13d-5(b) under
         the Exchange Act); provided, however, that "Person" shall not include
         (x) the MetLife, Inc. or any Affiliate, (y) the MetLife Policyholder
         Trust (or any person(s) who would otherwise be described herein solely
         by reason of having the power to control the voting of the shares held
         by that trust), or (z) any employee benefit plan (including an employee
         stock ownership plan) sponsored by the MetLife, Inc. or any Affiliate.

(c)      Voting Power. "Voting Power" shall mean such number of Voting
         Securities as shall enable the holders thereof to cast all the votes
         which could be cast in an annual election of directors of a company,
         and "Voting Securities" shall mean all securities entitling the holders
         thereof to vote in an annual election of directors of a company.

(d)      Affiliate. An "Affiliate" shall mean any corporation, partnership,
         limited liability company, trust or other entity which directly, or
         indirectly through one or more intermediaries, controls, or is
         controlled by, the MetLife, Inc..

                                       11
<PAGE>

QUESTIONS AND
ANSWERS

WHAT IS THE DIFFERENCE BETWEEN THE DEFERRED COMPENSATION PLAN (DCP) AND A 401(k)
PLAN SUCH AS THE SAVINGS AND INVESTMENT PLAN (SIP)?

A 401(k) plan is a "qualified plan" -- this means that it is qualified under the
Internal Revenue Code. Under a 401(k) plan, participants can defer income,
subject to certain limits. The chief limitations of 401(k) plans are the various
Internal Revenue Code-imposed caps on the amount that can be deferred. Your
deferrals into the SIP will cease when your cumulative income exceeds the
compensation limit ($200,000 in 2002) imposed by the Internal Revenue Code.

The chief advantages of the DCP are the substantially greater deferral
opportunities it can offer. The chief disadvantage is that it does not offer the
security of a qualified plan, which is afforded full ERISA protection.

Participation in the DCP does not affect your ability to participate in SIP. If
eligible, you can participate in either or both plans. However, you must defer
into the SIP to receive a matching contribution in the DCP.

I AM CONSIDERING DEFERRING $10,000 UNDER THE DEFERRED COMPENSATION PLAN FOR
OFFICERS. WHAT ARE THE ADVANTAGES OF THIS DEFERRAL VERSUS AFTER-TAX INVESTMENT?

Assume you defer $10,000 in 2002, requesting a distribution in 2007, combined
federal and state income tax rates remain level at 45% and the value of the
deferral increases at 10% per year. (For the purpose of this example, the 1.45%
Medicare tax withholding is ignored.)

<Table>
<Caption>
                                DEFERRED COMPENSATION PLAN          AFTER-TAX INVESTMENT
                              -----------------------------     --------------------------
YEAR                           VALUE     TAXES    NET VALUE      VALUE     TAXES    NET VALUE
----                          -------    ------   ---------     ------     ------   ---------
<S>                           <C>
2002 (Year of Deferral)       $10,000    $    0    $10,000      $10,000    $4,500     $5,500
2003                          $11,000    $    0    $11,000      $ 6,050    $    0     $6,050
2004                          $12,100    $    0    $12,100      $ 6,655    $    0     $6,655
2005                          $13,310    $    0    $13,310      $ 7,321    $    0     $7,321
2006                          $14,641    $    0    $14,641      $ 8,053    $    0     $8,053
2007 (Year of Distribution)   $16,105    $7,247    $ 8,858      $ 8,858    $1,511*    $7,347
</Table>

Tax rates may vary and are subject to change. MetLife recommends that you speak
to your tax advisor before making an election under this Plan.

* Assumes investment in a deferred annuity with no penalty at withdrawal.

WHY DO I HAVE TO MAKE A DEFERRAL ELECTION IN THE YEAR PRIOR TO THE YEAR SUCH
PAYMENTS WOULD OTHERWISE BE MADE?

In order for your deferral to be valid from a tax perspective, you must submit
your election form prior

                                       12
<PAGE>

to the year in which you would otherwise have a right to the compensation. If
you pay your income taxes based on a fiscal year instead of a calendar year, you
must elect to defer compensation in the fiscal year prior to the fiscal year in
which the payment would otherwise be made.

WHAT WOULD HAPPEN TO MY DEFERRALS IN THE EVENT METLIFE BECOMES INSOLVENT?

In the unlikely event of MetLife's insolvency, Plan participants would be viewed
as general creditors and their claims for their deferrals would be treated in
the manner and sequence stipulated by New York State Insurance Law.

WHEN AM I TAXED ON DEFERRED COMPENSATION OR EARNINGS THEREON?

Under current law, for federal (and most state) income tax purposes you will not
be taxed until you actually receive this money. Some states and localities do
not exclude deferred compensation from current taxation (check with your tax
advisor to find out if this is the case in your state). Note, however, that your
deferrals and the vested portion of the company match are subject to current
Social Security (FICA) taxes.

ARE DISTRIBUTIONS ELIGIBLE TO BE ROLLED OVER INTO AN IRA?

No. Because this is not a tax-qualified plan under the Internal Revenue Code,
you cannot roll your distributions over into an IRA, another employer's
qualified plan, or non-qualified plan when you leave MetLife. When electing a
Plan distribution, we encourage you to seek professional tax advice to determine
the best course of action for your financial circumstances.

WILL PAYMENT TO MY BENEFICIARIES BE INCLUDED IN MY GROSS ESTATE FOR FEDERAL
ESTATE TAX PURPOSES?

Yes. Under current federal estate tax laws, the present value of your account
balances at the time of your death will be included in your gross estate. If,
however, your beneficiary is your spouse and the payments qualify for the estate
tax marital deduction, in effect these amounts will not give rise to federal
estate taxes. The federal estate tax law is scheduled to be repealed after 2009,
but this repeal will expire at the end of 2010 unless Congress acts to extend
the repeal. This creates an uncertain atmosphere for estate tax planning. You
are strongly encouraged to seek the assistance of a professional estate planner.

IS MY DEFERRAL INCLUDED IN THE SOCIAL SECURITY WAGE BASE?

Yes. Deferrals are subject to withholding for Social Security (FICA) taxes in
the year of the deferral to the extent of the annual taxable wage base under
Social Security. There is no maximum annual taxable wage base for the hospital
insurance tax provision of FICA (the "Medicare tax"). With regard to the
Company's matching amounts, those amounts will be

                                       13
<PAGE>

subject to FICA taxes at the later of the time when they are credited to your
account or when they become vested. Required withholdings for FICA shall be made
from your other compensation. If other compensation is not sufficient to cover
your FICA taxes, your deferral will be reduced.

WILL I PAY SOCIAL SECURITY TAXES WHEN I TAKE MY DISTRIBUTION?

No. Because Social Security taxes were taken into account at the time the
deferrals were made, you owe no additional Social Security taxes when
distributions are made. Distributions of deferred amounts will not affect
receipt of Social Security benefits.

HOW WILL MY DEFERRALS AFFECT MY OTHER BENEFITS?

LIFE INSURANCE FOR YOU, SURVIVOR BENEFIT, SHORT TERM DISABILITY AND LONG TERM
DISABILITY

Your pay used to calculate benefits for these Plans will be calculated based on
pre-deferral amounts.

COMPENSATION CONTINUANCE PLAN

Deferrals will continue to be taken from your pay during periods of short
illness absence in which you are paid under the Company's Compensation
Continuance Plan.

PENSION BENEFITS

Your final average pay will be based on annual base compensation and incentive
payments, not receipts. That is, the calculation will be based on the
pre-deferral amounts. However, to the extent your pension benefit is
attributable to deferred amounts, your benefit will be paid from the auxiliary
pension plan and not the qualified retirement plan. Your Long Term Performance
Compensation Plan and certain other bonuses are not taken into account when
determining your pension benefit.

SAVINGS AND INVESTMENT PLAN (SIP)

If you are participating in both, the Savings and Investment Plan (SIP) and the
Deferred Compensation Plan, the Company's 4% match will be allocated as follows:

<Table>
<Caption>
COMPENSATION                 SIP (QUALIFIED PLAN)        AUXILIARY SIP          DEFERRED COMPENSATION PLAN
------------                 --------------------        -------------          --------------------------
<S>                          <C>                         <C>                    <C>
NON-DEFERRED COMPENSATION:            X
UP TO $200,000*

NON-DEFERRED COMPENSATION                                       X
IN EXCESS OF $200,000*

DEFERRED COMPENSATION                                                                        X
</Table>

FOR EXAMPLE:
<Table>
<S>                             <C>
Annual Cash Compensation        $300,000
Amount of Deferral              $ 60,000
                                --------
Non-Deferred Compensation       $240,000
</Table>

                                       14
<PAGE>

The 4% SIP match would be allocated as follows
<Table>
<Caption>
COMPENSATION                 SIP (QUALIFIED PLAN)        AUXILIARY SIP          DEFERRED COMPENSATION PLAN
------------                 --------------------        -------------          --------------------------
<S>                          <C>                   <C>                          <C>
NON-DEFERRED COMPENSATION:         $8,000
UP TO $200,000*                4% OF $200,000

NON-DEFERRED COMPENSATION                                   $1,600
IN EXCESS OF $200,000*                             4% OF ($240,000-$200,000)

DEFERRED COMPENSATION                                                            $2,400 (4% OF $60,000)
</Table>

* Maximum compensation limit under the Internal Revenue Code (IRC) for Qualified
  Plans, indexed from time to time, is $200,000 for 2002. Note that the Company
  matching contributions for Auxiliary SIP and Deferred Compensation Plan are
  subject to FICA tax as well.

HOW ARE PLAN PAYMENTS TO ME OR MY BENEFICIARIES TREATED FOR INCOME TAX PURPOSES?

For federal tax purposes, generally, payments are taxed as ordinary income when
received and are subject to income tax withholding at the rate applicable in the
year received. For deferrals that are excluded from state and local taxable
income at the time the deferrals are made, payments are taxed as ordinary income
when received.

For deferral payments made while you are an active employee, MetLife uses a flat
income tax withholding rate.

HOW DOES METLIFE FUND THE DEFERRED COMPENSATION ACCOUNTS?

The deferred compensation accounts established for each participant are
unfunded. The accounts are solely for record-keeping purposes. MetLife has
established a Rabbi Trust designed to support the account balances deferred by
Metropolitan Life Insurance Company employees and certain other programs with
assets and change of control protection. The existence of the trust in no way
guarantees payment to any participant. It is important to understand that, at
all times, the Trust assets remain subject to the claims of MetLife's general
creditors and are not secured against all contingencies, including the Company
becoming insolvent.

HOW WILL EARNINGS BE CREDITED TO MY ACCOUNT?

The investment options you select are used solely as a device for crediting
investment returns to your account; your deferrals will not actually be invested
in the investment options. Your investment returns will "mirror" the actual
performance of the investment options you choose and performance will be
measured on a daily basis. Your deferrals are subject to investment risk. As
with any investment, if the returns on the funds you choose are positive, your
account balance will grow. If the returns are negative, your account balance
will diminish.

                                       15
<PAGE>

PLAN SUMMARY

AT A GLANCE . . .

<Table>
<S>                                 <C>
--------------------------------------------------------------------------------
PURPOSE OF THIS NONQUALIFIED PLAN   To provide select management associates with
                                    the opportunity to defer income and receive
                                    matching contributions without regard to
                                    qualified plan limitations.

--------------------------------------------------------------------------------
ELIGIBILITY                         Officers and certain MetLife employees who
                                    formerly had been participants of the
                                    GenAmerica Executive Deferred Savings Plan.

--------------------------------------------------------------------------------
MATCHING AMOUNT                     After one year of employment and if you are
                                    participating in the MetLife Savings and
                                    Investment Plan (SIP), the Company will
                                    match 4% of the compensation deferred
                                    (excluding deferrals of the Long Term
                                    Performance Compensation Plan).

--------------------------------------------------------------------------------
INVESTMENT CREDITS                  Accounts credited as if invested at your
                                    direction among several (currently twelve)
                                    funds with different investment objectives.

--------------------------------------------------------------------------------
CHANGING DEFERRAL RATE              Not permitted, except during extreme
                                    hardship.

--------------------------------------------------------------------------------
CHANGING INVESTMENT DIRECTION       Anytime, limited to 6 times per year (future
                                    deferral and existing account balances).

--------------------------------------------------------------------------------
DISTRIBUTIONS

                FORM                Single lump sum, or up to fifteen annual
                                    installments.

                TIMING              Upon separation of employment or in a
                                    designated future year.

                ACCELERATED         Immediate lump sum payment, 10% penalty, and
                FEATURE             three-year suspension, see Distribution of
                                    Funds section.
--------------------------------------------------------------------------------
</Table>

                                       16
<PAGE>

<Table>
<S>                                 <C>
--------------------------------------------------------------------------------
INDIVIDUAL TAX                      Distributions are taxable as ordinary income
CONSEQUENCES                        at the time distributed.

                                    No tax-deferred rollover to an IRA,
                                    qualified plan, or non-qualified plan is
                                    permitted.

                                    FICA and state income taxes may be payable
                                    at an earlier date on amounts credited to
                                    participants accounts.

--------------------------------------------------------------------------------
SECURITY                            This nonqualified plan is unfunded, so
                                    participant accounts are maintained for
                                    record keeping purposes only. However,
                                    Metropolitan Life Insurance Company may set
                                    aside assets within a special Rabbi Trust
                                    that protects accounts in event of change of
                                    control, but not bankruptcy.
--------------------------------------------------------------------------------
</Table>

                                       17<PAGE>
                                                                   EXHIBIT 10.63

                       MetLife Deferred Compensation Plan
                                                                            2002

                              For Outside Directors

                                   MetLife(R)
<PAGE>

DEFERRED COMPENSATION
PLAN FOR OUTSIDE DIRECTORS

THIS BROCHURE DESCRIBES THE DEFERRED COMPENSATION PLAN EFFECTIVE
JANUARY 1, 2002

The MetLife Deferred Compensation Plan for Outside Directors provides you with
the opportunity to defer receipt of your Director Fees to a later date, reducing
gross income in the year of the deferral for purposes of federal and most state
income taxes. A MetLife Plan Committee administers the Plan. This booklet will
serve as the plan document.

QUESTIONS?

Nonqualified Plan Services
Sandra Lukowsky
Phone: (877) 855-NQPS (6777)
Fax: (314) 444-0428
E-mail: slukowsky@genam.com

                                       ii

<PAGE>

                            SUMMARY TABLE OF CONTENTS

<Table>
<Caption>
                                                                              PAGE

<S>                                                                           <C>
 Eligibility                                                                   1

 Making a Deferral Election                                                    2

 Deferred Compensation Accounts                                                3

 Fund Options                                                                  4

 Fund Objectives                                                               5-6

 Distribution of Funds                                                         7-8

 Beneficiary Designations & Miscellaneous                                      9-11

 Questions and Answers                                                         12-13
</Table>

                                       ii
<PAGE>

ELIGIBILITY

All members of the Board of Directors of MetLife, Inc and the Metropolitan Life
Insurance Company ["Company"] who are not also active employees of MetLife,
Inc., Metropolitan Life Insurance Company, Metropolitan Property and Casualty,
or any of its subsidiaries are eligible to participate in this Plan. Eligible
Directors who are elected to the Board prior to October 1 of a given year may,
within 30 days, elect to defer future Eligible Fees, as defined below excluding
the Retainer Fee, for the remainder of the current year.

ELIGIBLE FEES

An eligible Director may elect to defer receipt of all or a portion of the
compensation fees paid during any year provided that the amount to be deferred
is $10,000 or more. The fees include:

o        Retainer Fee,

o        Meeting Fees,

o        Committee Chairperson Fees,

o        Stock grants or any other equity compensation, and

o        Any other Board-related fees which may be payable.

The amount deferred will be credited to the deferral account at the end of the
month in which the fees would otherwise have been paid.

                                       1
<PAGE>

MAKING A
DEFERRAL ELECTION

An eligible Director may make an annual deferral election no later than the due
date specified on the election form. This due date will be prior to the year in
which the deferred fees would have been otherwise paid.

Deferral of Fees will begin in January and end in December of the year following
the deferral election.

IN ADDITION TO INDICATING THE AMOUNT TO BE DEFERRED, YOU MUST ALSO DECIDE:

o        THE INVESTMENT OPTION -Earnings (gains or losses) will be credited to
         the Director's accounts in accordance with the performance of the Funds
         selected. Investment choices may be changed up to six times per year,
         as provided in the Fund Options section.

o        THE DISTRIBUTION DATE -This cannot be less than three years after the
         year of deferral. Once you have designated a distribution date, this
         decision cannot be changed, except as otherwise provided in the
         Distribution of Funds section.

o        THE DISTRIBUTION METHOD -Payment may be in a single lump sum, or up to
         fifteen annual installments. Once you have designated a distribution
         method, this decision cannot be changed, except as otherwise provided
         in the Plan. Refer to the Distribution of Funds section of this
         document for more information on distributions.

                                       2
<PAGE>

DEFERRED COMPENSATION
ACCOUNTS

An account will be established for the annual deferrals of each Director in the
Deferred Compensation Plan. These accounts are unfunded, meaning any amounts
credited to the accounts will be solely for record-keeping purposes and will not
be considered to be held in trust or in escrow or in any way vested to the
participant.

The maintenance of such account will not give you any right or security interest
in any asset of MetLife. Any asset invested by MetLife in connection with this
plan shall at all times be subject to the claims of the general creditors of
MetLife. Your deferral amounts are also subject to the claims of the general
creditors of MetLife.

The amount deferred will be credited to the deferral account at the end of each
period in which the fees would otherwise have been paid. Your account will be
credited with investment income and losses, which will reflect the actual
experience of the funds selected. The available funds are described in the Fund
Objective section of this booklet. It is within the discretion of the Company
whether actual investment of your deferrals is made according to your stated
preferences. However, the funds you select will be used as a device for
determining investment returns to your account. Your investment returns will
"mirror" the actual performance of the funds you choose.

Your deferrals are subject to investment risk. As with any investment, if the
returns on the funds you choose are positive, your account balance will grow. If
the returns are negative, your account balance will diminish. Please review the
investment objectives of the various funds before making your decision.

                                       3
<PAGE>

FUND OPTIONS

PARTICIPANTS MAY CHOOSE AMONG THE FOLLOWING INVESTMENT FUND OPTIONS:

<Table>
<Caption>
ACTIVELY MANAGED FUNDS                                        MARKET INDEX OPTIONS
----------------------                                        --------------------
<S>                                                           <C>
MetLife SIP Fixed Income Fund                                 S&P 500
Loomis Sayles Bond Fund                                       Russell 2000(R)
Oakmark Fund                                                  NASDAQ Composite
MetLife SIP Small Company Stock Fund                          MSCI-EAFE(R)
Oakmark International Portfolio                               Lehman-Brothers Aggregate
                                                              Merrill Lynch US HighYield Master II
                                                              MSCI Emerging Market Free Index
</Table>

See the Fund Objectives section for information about the investment options,
including investment objectives.

Elections must be made in multiples of 5%. The director may change investment
choices up to six times each year, by contacting Nonqualified Plan Services at
(877) 855-6777 or fax (314) 444-0428. The changes will be made as of the
business day your written request is received, if received before the close of
the market for that day or as of the next business day, if received after the
close of the market for that day. You will receive a confirmation statement
within two weeks.

MetLife (or its successor) retains the discretion to change or eliminate any or
all of the available investment options and to unilaterally impose any other
measure of earnings, which the Company deems to be appropriate. MetLife (or its
successor) also retains the discretion to amend or eliminate the procedure for
making investment elections.

                                       4
<PAGE>

FUND OBJECTIVES

ACTIVELY MANAGED FUNDS

Following are brief descriptions of the investment objectives of each of the
actively managed Funds:

    METLIFE SIP FIXED INCOME FUND

       This portfolio seeks to achieve the highest possible current income
       consistent with the preservation of capital and predictable growth
       through a guaranteed interest rate by investing in Guaranteed Interest
       Contracts or similar contracts.

    LOOMIS SAYLES BOND FUND

       This portfolio seeks to achieve high total return through current income
       and capital appreciation, by investing primarily in debt securities
       including convertibles. At least 65% of its total assets will normally be
       invested in bonds. Up to 35% of its assets may be invested in securities
       of below investment-grade quality, and up to 20% of assets may be
       invested in preferred stocks. SEE NOTE 1, on next page.

    OAKMARK FUND

       This portfolio seeks to achieve high total return through long-term
       growth of capital appreciation by investing primarily in equity
       securities. Up to 25% of its total assets may be invested in securities
       of non-U.S. issuers, but no more than 5% of assets are expected to be
       invested in emerging markets.

    METLIFE SIP SMALL COMPANY STOCK FUND

       This portfolio seeks to achieve high total return through long-term
       growth of capital appreciation by investing in the stocks of small U.S.
       companies with strong growth potential. SEE NOTE 2, on next page.

    OAKMARK INTERNATIONAL PORTFOLIO

       This portfolio seeks to achieve high total return through long-term
       growth of capital appreciation by investing in the stocks of
       international equity securities of mature markets, less developed
       markets, and in selected emerging markets. There are no limits on the
       geographic asset distribution. At least 65% of its total assets will
       normally be invested in non-U.S. issuers. SEE NOTE 3, on next page.

                                       5
<PAGE>

MARKET INDEX OPTIONS

The investment objective of each of these Funds is to seek to match the
performance of its index.

    S&P 500 INDEX

       An index of the 500 largest capitalized stocks in the United States that
       is widely recognized as a guide to the overall health of the U.S. stock
       market.

    RUSSELL 2000(R)

       This Index measures stock performance of 2000 smaller U.S. companies
       with market capitalization under $1.5 billion. SEE NOTE 2.

    NASDAQ COMPOSITE INDEX

       A market capitalization-weighted index that is designed to represent the
       performance of the National Market System which includes over 5,000
       stocks traded only over-the-counter and not on an exchange. SEE NOTE 4.

    MSCI-EAFE INDEX(R)

       The Morgan Stanley Capital International Europe, Australasia, Far East
       Index; a widely recognized benchmark of the world stock markets
       (excluding the United States). SEE NOTE 3.

    LEHMAN-BROTHERS AGGREGATE BOND INDEX

       A benchmark index made up of the Lehman Brothers Government/Corporate
       Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities
       Index, including securities that are investment-grade quality or higher;
       have at least one year to maturity, and have an outstanding par value of
       at least $100 million.

    MERRILL LYNCH US HIGH YIELD MASTER II

       This Index is composed of below grade debt securities, including
       convertibles. SEE NOTE 1.

    MSCI EMERGING MARKET FREE INDEX

       The MSCI Emerging Markets Free Index measures the performance of stocks
       of companies in emerging countries in four major regions: Asia, Latin
       America, Eastern Europe and the Middle East/Africa. SEE NOTE 3.

There is no guarantee that any fund will achieve its objective.

   Note 1 - Lower rated high yield, high-risk securities generally involve
            more credit risk. These securities may also be subject to greater
            market price fluctuations than lower yielding higher rated debt.

   Note 2 - Investments in small capitalization and emerging growth companies
            involve greater than average risk. Such securities may have limited
            marketability and the issues may have limited product lines, markets
            and financial resources. The value of such investments may fluctuate
            more widely than investments in larger more established companies.

   Note 3 - International stocks contain additional risks that are not
            associates with U.S. domestic issues, such as changes in currency
            exchange rates, different governmental regulations, economic
            conditions and accounting standards.

   Note 4 - This index is weighted in technology issues. The technology
            industry can be significantly affected by obsolescence, short
            product cycles, falling profits, and prices, and competition from
            new market participants. A choice that is weighted in one sector
            is more volatile than those that diversify across many industry
            sectors.

                                       6
<PAGE>

DISTRIBUTION OF FUNDS

WHEN FUNDS ARE DISTRIBUTED

When completing your election you must designate when payment of your deferred
account will commence and the duration of the payment period. Payment of each
year's deferral will begin on the earlier of:

(A)    no more than 60 days following termination of service as a MetLife
       Director, or

(B)    on a specific date chosen by the Director, or at some other point in time
       as specifically approved by the Plan Committee.

The earliest date that a Director can choose is January following the third year
after the deferral was made. For example, the 2002 deferral account cannot be
distributed before the month of January 2006. Actual payment will be made as
early as practical during the selected month.

TAXES

Payments are subject to such deductions as may be required in accordance with
all federal, state, and local tax laws and regulations.

FORM OF PAYMENT

The Plan participant may choose to receive each account balance in a lump sum.
For each account that has a balance of at least $10,000, you may also choose to
receive the balance in annual installments up to 15 years. Each annual
installment will be a fraction of the account balance with one being the
numerator and the denominator being the number of remaining payments. Therefore,
if you elected to receive ten annual payments, the first payment is equal to
1/10th of the account balance. The second year is equal to 1/9th and so on until
the final payment is made. The lump sum payment or first installment payment
will be made as soon as practical following the event initiating the payment
(specific date, retirement, etc.), but not more than 30 days after the event.
The remaining annual installments will be made during the month of the
anniversary of the event that initiated the first payment.

LOANS

No loans can be taken from your account.

                                       7
<PAGE>

HARDSHIP EXCEPTIONS

In the case of extreme hardship, amounts being deferred may be discontinued
and/or payments of the amounts already deferred may be advanced at the
discretion of the Plan Committee. However, the total amount of discontinuance or
payment advanced cannot exceed the funds required to satisfy the financial
consequences of the hardship.

Extreme hardship includes an unforeseeable or extraordinary occurrence or event
caused by an event beyond the control of the Director, such as illness, accident
or family problems resulting in a Director's financial need that cannot be met
from other assets or normal sources of income.

ACCELERATED DISTRIBUTION FEATURE

You may submit a written request to the Committee for a lump sum distributions
without a hardship, but you must withdraw the full account balance for all years
you made deferrals under the Plan and there will be a 10% penalty forfeited to
the Company. In addition, the distribution will be deemed to be taxable income.
Future deferrals under the Plan will not be permitted until the Plan year
commencing at least three years after the date of the distribution.

DEATH OF THE PARTICIPANT

In the event of participants death, the named beneficiary (as indicated in the
Deferral Election Form) or the beneficiary's estate will receive the deferred
account balance in a lump sum cash payment, as soon as practical.

REDEFERRAL FEATURE

A participant will have one opportunity to change the initial election regarding
the form of payment and when payment will begin. At least 12 months prior to the
date payment is scheduled to begin (or a shorter period as the Committee, in its
sole discretion, may permit), the participant may elect to postpone payment to a
later specified date or may specify a different form of payment.

                                       8
<PAGE>

BENEFICIARY DESIGNATIONS & MISCELLANEOUS

BENEFICIARY DESIGNATIONS

You may designate an individual, a trustee or your estate as beneficiary and you
may change your beneficiary at any time. A beneficiary designation will be valid
as of the date the request is received, and will apply to current and all prior
year deferrals under this plan. If there is no valid beneficiary designation, or
if no designated beneficiary survives the participant, the account balance at
your death shall be paid as soon as practicable to your surviving spouse, and in
the event you are not married at death, to your estate.

NONASSIGNABILITY

Neither the participant nor any designated beneficiary shall have any right to
sell, assign, transfer, pledge or commute any rights under this Plan.

ADMINISTRATION

MetLife through a Plan Committee administers the Plan. The Committee will have
full discretion to interpret and administer the Plan and its decision in any
matter involving the interpretation and application of the Plan will be final
and binding on all parties.

AMENDMENT AND TERMINATION

The Company reserves the right to amend, modify, suspend or terminate this Plan
in whole or in part at any time by action of its Board or by a written
instrument executed by a duly authorized officer of the Company. No amendment
can reduce the account credited to a participant under the Plan as of the
amendment date, except to the extent that the participant agrees in writing to
such reduction.

                                       9
<PAGE>

CHANGE OF CONTROL PROTECTION

You may designate that if there is a "Change of Control" (as defined below) of
the MetLife enterprise and you leave the Company's employ for any reason within
two years after the Change of Control, your entire account balance will be paid
to you shortly after your termination date notwithstanding any election to the
contrary.

"Change of Control." (a) For the purposes of this Agreement, a "Change of
Control" shall be deemed to have occurred if:

       (i)    any Person acquires "beneficial ownership" (within the meaning of
              Rule 13d-3 under the Securities Exchange Act of 1934, as amended
              (the "Exchange Act")), directly or indirectly, of securities of
              the MetLife, Inc. representing 25% or more of the combined Voting
              Power of the MetLife, Inc.'s securities;

       (ii)   within any 24-month period, the persons who were directors of the
              MetLife, Inc. at the beginning of such period (the "Incumbent
              Directors") shall cease to constitute at least a majority of the
              Board of Directors of the MetLife, Inc. (the "Board") or the board
              of directors of any successor to the MetLife, Inc.; provided,
              however, that any director elected or nominated for election to
              the Board by a majority of the Incumbent Directors then still in
              office shall be deemed to be an Incumbent Director for purposes of
              this subclause (a)(ii);

       (iii)  the stockholders of the MetLife, Inc. approve a merger,
              consolidation, share exchange, division, sale or other disposition
              of all or substantially all of the assets of the MetLife, Inc.
              which is consummated (a "Corporate Event"), and immediately
              following the consummation of which the stockholders of the
              MetLife, Inc. immediately prior to such Corporate Event do not
              hold, directly or indirectly, a majority of the Voting Power of
              (x) in the case of a merger or consolidation, the surviving or
              resulting corporation, (y) in the case of a share exchange, the
              acquiring corporation or (z) in the case of a division or a sale
              or other disposition of assets, each surviving, resulting or
              acquiring corporation which, immediately following the relevant
              Corporate Event, holds more than 25% of the consolidated assets of
              the MetLife, Inc. immediately prior to such Corporate Event; or

       (iv)   any other event occurs which the Board declares to be a Change of
              Control.

                                       10
<PAGE>

(b)    Person. For purposes of the definition of Change of Control, "Person"
       shall have the meaning ascribed to such term in Section 3(a)(9) of the
       Exchange Act, as supplemented by Section 13(d)(3) of the Exchange Act,
       and shall include any group (within the meaning of Rule 13d-5(b) under
       the Exchange Act); provided, however, that "Person" shall not include (x)
       the MetLife, Inc. or any Affiliate, (y) the MetLife Policyholder Trust
       (or any person(s) who would otherwise be described herein solely by
       reason of having the power to control the voting of the shares held by
       that trust), or (z) any employee benefit plan (including an employee
       stock ownership plan) sponsored by the MetLife, Inc. or any Affiliate.

(c)    Voting Power. "Voting Power" shall mean such number of Voting Securities
       as shall enable the holders thereof to cast all the votes which could be
       cast in an annual election of directors of a company, and "Voting
       Securities" shall mean all securities entitling the holders thereof to
       vote in an annual election of directors of a company.

(d)    Affiliate. An "Affiliate" shall mean any corporation, partnership,
       limited liability company, trust or other entity which directly, or
       indirectly through one or more intermediaries, controls, or is controlled
       by, the MetLife, Inc..

                                       11
<PAGE>

QUESTIONS AND
ANSWERS

WHAT IS THE DEFERRED COMPENSATION PLAN?

This Plan allows you to defer all or part of your future compensation as an
Outside Member of the MetLife Board of Directors. Because this Plan does not
cover any employees of MetLife, it is not subject to any of the provisions of
the Employee Retirement Income Security Act (ERISA).

The primary advantage of this Plan is the deferral of income taxes. A
disadvantage is that any amounts deferred will not be secured in a trust or
escrow account. In order for the elected deferral to be recognized for tax
purposes, the amounts deferred must remain subject to the claims of MetLife's
general creditors.

WHY DO I HAVE TO MAKE A DEFERRAL ELECTION BEFORE I KNOW WHAT I WILL BE PAID?

The Internal Revenue Service (IRS) requires that an irrevocable election to
defer income be made before the income is actually earned. Since payments of
each year's deferral can not begin until the earlier of termination of service
as a MetLife Director or a specific date (not before January of 2006), you may
want to be conservative in your deferral amount. The minimum deferral amount is
$10,000. When you make an election, you must specify the amount to be deferred,
the distribution date and the method of distribution.

The deferral election must be made no later than the date specified on the
election form for the fees that would have been otherwise paid in the following
year.

AM I SUBJECT TO INCOME TAX ON DEFERRED COMPENSATION OR INTEREST WHEN I EARN IT?

No. As long as you make your deferral election before you earn the compensation
you defer, you will not be considered to be in 'constructive receipt' of the
amount deferred.

For federal income tax purposes, you will not be taxed until you receive this
money. Most states follow this approach. However, you should consult your tax
advisor regarding applicable state laws.

ARE DISTRIBUTIONS ELIGIBLE TO BE ROLLED OVER INTO AN IRA OR OTHER QUALIFIED
PLAN?

No. Because this is not a tax qualified plan under the Internal Revenue Code you
cannot roll over your distributions into an IRA, another employer's qualified
plan, or non-qualified plan. When electing a Plan distribution, we encourage you
to seek professional tax advice to determine the best course of action for your
financial circumstances.

                                       12
<PAGE>

IF I DIE, WILL ANY PAYMENTS TO MY BENEFICIARIES BE INCLUDED IN MY GROSS ESTATE
FOR FEDERAL TAX PURPOSES?

Yes. Under current federal estate tax laws, the present value of your account
balances at the time of your death will be included in your gross estate. If,
however, your beneficiary is your spouse and the payments qualify for the estate
tax marital deduction, in effect these amounts will not give rise to federal
estate taxes. The federal estate tax law is scheduled to be repealed after 2009,
but this repeal will expire at the end of 2010 unless Congress acts to extend
the repeal. This creates an uncertain atmosphere for estate tax planning. You
are strongly encouraged to seek the assistance of a professional estate planner.

HOW ARE PLAN PAYMENTS TO ME TAXED?

For federal tax purposes, payments are taxed as ordinary income when received.
Because you are considered to be self-employed with regard to MetLife, Plan
payments are subject to taxation under the Self Employment Contributions Act
(SECA) at the rate applicable in the year received. Any SECA tax due will depend
on your personal financial situation, including the amount of FICA and SECA
taxes paid by you with respect to other positions of employment you may have.

HOW ARE PLAN PAYMENTS TO MY BENEFICIARIES TAXED?

Payments are subject to ordinary income tax and SECA tax in the year received.
Also, refer to the "Death of the Participant" in the Distribution of Funds
section of this document for more information.

HOW DOES METLIFE FUND THE DEFERRED COMPENSATION ACCOUNTS?

The deferred compensation accounts established for each participant are
unfunded. The accounts are solely for record-keeping purposes. MetLife has
established a Rabbi Trust designed to support the deferred compensation and
certain other programs with assets and change of control protection. The
existence of the trust in no way guarantees payment to any participant. It is
important to understand that, at all times, the Trust assets remain subject to
the claims of MetLife's general creditors and are not secured against all
contingencies, including the Company becoming insolvent.

                                       13

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