Document:

<PAGE>
                                                                   EXHIBIT 10.64

                          MetLife Individual Business
                           Deferred Compensation Plan
                                                                            2002

                                   MetLife(R)

<PAGE>

INDIVIDUAL BUSINESS
DEFERRED COMPENSATION PLAN

The MetLife Individual Business Deferred Compensation Plan provides you with the
opportunity to defer receipt of a portion of your MetLife benefitable
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 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

Distribution of Funds                                                        4-5

Beneficiary Designations & Miscellaneous                                     6-8

Questions and Answers                                                       9-12

Plan Summary - At a Glance . . .                                           13-14
</Table>

                                       ii

<PAGE>

ELIGIBILITY

2002 ELIGIBILITY REQUIREMENTS

Any member of the MetLife Individual Business Field Force whose annual total
compensation equaled or exceeded $170,000 during the period from October 1, 2000
through September 30, 2001; and who otherwise does not qualify to participate in
the 2002 Individual Business Special Deferred Compensation Plan, is eligible to
participate in the 2002 Plan year.

Note: The annual compensation requirements for eligibility will be increasing
from $170,000 to $200,000 for the 2003 Plan Year.

ELIGIBLE COMPENSATION

Only benefitable compensation from MetLife will be taken into account in
determining compensation eligible to be deferred. Benefitable compensation is
compensation taken into account under the MetLife Insurance and Retirement
Program. Deferrals may be made in 10% increments up to 70%.

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.

<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 Eligible Compensation 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 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 as if the funds were invested in the Fixed
Income Fund of the MetLife's Savings and Investment Plan (SIP). The account will
continue to earn investment income until the funds have been paid.

If you participate in this Plan and the Savings and Investment Plan (SIP) the
company currently provides a 4% matching contribution for deferrals of Eligible
Compensation 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 and in the same manner as the corresponding deferral is
credited to your deferral account. The company reserves the right to discontinue
the matching contribution at any time.

                                       3
<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.

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.

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 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

                                       4
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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)

                                       5
<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.

                                       6
<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.

                                       7
<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..

                                       8
<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>          <C>          <C>          <C>          <C>           <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.

                                       9
<PAGE>

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 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 regards to the
Company's matching amounts, those amounts will be

                                       10
<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 pre-deferral amounts, not receipts.
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.

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:
    Up to $200,000*                          X

    Non-Deferred Compensation
    in Excess of $200,000*                                      X

    Deferred
    Compensation                                                                            X
</Table>

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

                                       11
<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 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 as if the funds were invested in the Fixed
Income Fund of the MetLife's Savings and Investment Plan (SIP). The account will
continue to earn investment income until the funds have been paid.

                                       12
<PAGE>

PLAN SUMMARY

AT A GLANCE . . .

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

ELIGIBILITY                        Members of the MetLife Individual Business
                                   Field Force whose annual total compensation
                                   equaled or exceeded $170,000 during the
                                   period from October 1, 2000 through September
                                   30, 2001; and who otherwise does not qualify
                                   to participate in the 2002 Individual
                                   Business Special Deferred Compensation 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.

INVESTMENT CREDITS                 Accounts credited as if invested in
                                   the Fixed Income Fund of the MetLife's
                                   Savings and Investment Plan (SIP).

CHANGING DEFERRAL RATE             Not permitted, except during extreme
                                   hardship.

CHANGING INVESTMENT DIRECTION      Not permitted.

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.

                                       13
<PAGE>

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.

                                       14<PAGE>
                                                                   EXHIBIT 10.66

                           METLIFE INDIVIDUAL BUSINESS
                       SPECIAL DEFERRED COMPENSATION PLAN

                                                                            2002

                                    METLIFE(R)

<PAGE>

INDIVIDUAL BUSINESS SPECIAL
DEFERRED COMPENSATION PLAN

The MetLife Individual Business Special Deferred Compensation Plan provides you
with the opportunity to defer receipt of a portion of your MetLife benefitable
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

<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>

<PAGE>

ELIGIBILITY

2002 ELIGIBILITY REQUIREMENTS

Any member of the MetLife Individual Business Field Force whose annual total
compensation equaled or exceeded $240,000 during the period from October 1, 2000
through September 30, 2001 is eligible to participate in the 2002 Plan year. In
addition, to be eligible and in order for MetLife to comply with Federal law
requirements, participants must also confirm that their income was at least
$200,000 in each of the last two years (1999 and 2000) and that they reasonably
expect to have income of at least $200,000 in 2001.

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

ELIGIBLE COMPENSATION

Only benefitable compensation from MetLife will be taken into account in
determining compensation eligible to be deferred. Benefitable compensation is
compensation taken into account under the MetLife Insurance and Retirement
Program. Deferrals may be made in 10% increments up to 70%.

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.

<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 Eligible Compensation 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 Eligible
Compensation 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.

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.

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 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

                                       7
<PAGE>

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>          <C>          <C>          <C>          <C>           <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.

                                       12
<PAGE>

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 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 regards 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 pre-deferral amounts, not receipts.
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.

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:
    Up to $200,000*                          X

    Non-Deferred Compensation
    in Excess of $200,000*                                      X

    Deferred
    Compensation                                                                            X
</Table>

<Table>
<S>                                        <C>
FOR EXAMPLE:
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 . . .

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

ELIGIBILITY                        Any member of the MetLife Individual Business
                                   Field Force whose annual total compensation
                                   equaled or exceeded the following:

                                   o    10/1/2000 - 9/30/2001     $240,000, and

                                   o    1999 & 2000               $200,000, and

                                   o    Reasonably expects to have income of at
                                        least $200,000 in 2001.

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.

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.

                                       16
<PAGE>

INDIVIDUAL TAX CONSEQUENCES        Distributions are taxable as ordinary
                                   income 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.

                                       17

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