Document:

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                                                                   EXHIBIT 10.46

                         METROPOLITAN LIFE SUPPLEMENTAL

                      AUXILIARY SAVINGS AND INVESTMENT PLAN

                (As Amended and Restated as of December 15, 2003)

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                         METROPOLITAN LIFE SUPPLEMENTAL

                      AUXILIARY SAVINGS AND INVESTMENT PLAN

         Metropolitan Life Insurance Company, with respect to its own employees,
and Metropolitan Property and Casualty Insurance Company, MetLife Credit Corp.,
MetLife Funding, Inc., MetLife Group, Inc., MetLife Securities, Inc., MetLife
Bank, National Association (limited to employees of the MetLife Bank Division)
and Texas Life Insurance Company, for whom all obligations under this Plan for
their respective employees are assumed by Metropolitan Life Insurance Company,
hereby amends and restates this Plan, effective December 15, 2003.

Article 1 - Purpose of Plan

         The purpose of this Plan is to provide Company matching contributions
on behalf of employees and their beneficiaries whose Company matching
contributions under the Savings and Investment Plan are reduced or eliminated
solely because Section 1.415-2(d)(2) of the Internal Revenue Regulations does
not take into account the Company's contribution to a deferred compensation plan
to the extent such contributions are not includible in the participant's gross
income for the taxable year in which contributed in determining a participant's
compensation under the Savings and Investment Plan, for purposes of Section
415(c) of the Code.
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Article 2 - Definitions

2.1      "Beneficiary" means one or more persons designated by a Participant or
otherwise determined under Section 4.5 to receive that portion of the
Participant's vested account balance which has not been distributed as a result
of his or her death.

2.2      "Company" means Metropolitan Life Insurance Company, Metropolitan
Property and Casualty Insurance Company, MetLife Credit Corp., MetLife Funding,
Inc., MetLife Group, Inc., MetLife Securities, Inc., MetLife Bank, National
Association (limited to employees of the MetLife Bank Division) and Texas Life
Insurance Company.

2.3      "Participant" means any employee of the Company participating in the
Savings and Investment Plan who satisfies the requirements of Article 3.

2.4      "Plan" means the Metropolitan Life Supplemental Auxiliary Savings and
Investment Plan.

2.5      "Plan Administrator" means Metropolitan Life Insurance Company.

2.6      "Plan Year" means the calendar year.

2.7      "Savings and Investment Plan" means the Savings and Investment Plan for
Employees of Metropolitan Life and Participating Affiliates, a qualified 401(k)
plan.

2.8      "Termination of Employment" means the voluntary or involuntary
severance of the employment relationship between the Participant and the Company
or any illness or injury for which the Participant, who has one or more years of
continuous service, is receiving disability benefits (including short-term and
long-term disability) from the Company's disability plans a continuous period of
24 months.

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Article 3 - Participation

         Each participant in the Savings and Investment Plan whose compensation
exceeds the limitation of Section 401(a)(17) of the Code and whose Company
matching contributions under the Savings and Investment Plan are reduced or
eliminated because of the application of Section 1.415-2(d)(2) of the Treasury
Regulations shall be a Participant in this Plan.

Article 4 - Vesting and Payment of Benefits

4.1      Company Matching Contributions.

         (a)      In General. Except as otherwise provided in subsection (b),
for each Plan Year, the Company shall contribute to this Plan, on behalf of each
Participant, the amount of Company Matching Contributions that would have been
made to the Savings and Investment Plan had the limitation of Section
1.415-2(d)(2) of the Treasury Regulations not applied to such Participant's
account under the Savings and Investment Plan.

         (b)      Suspension for Savings and Investment Plan Withdrawals.
Notwithstanding subsection (a), no Company Matching Contributions shall be made
for the six-month period beginning on the first day of the second month
following the date that the Participant receives (1) a hardship withdrawal under
the provisions of the Savings and Investment Plan or (2) a withdrawal of Company
matching contributions under the provisions of the Savings and Investment Plan.

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4.2.     Vesting of Company Matching Contributions. Company Matching
Contributions under this Plan shall vest in accordance with the vesting schedule
applicable to Company matching contributions under the Savings and Investment
Plan.

4.3.     Elections and Tracking of Investment Performance. Subject to the
Company's consent, a Participant may make an election with respect to the
investment allocation of future Company contributions as well as existing
balances. Such allocation shall be pegged to the performance of one or more of
the following funds set forth under the Savings and Investment Plan: the Fixed
Income Fund, the Equity Fund, the Common Stock Index Fund, the Small Company
Stock Fund, the International Equity Fund, the Emerging Markets Equity Fund, the
Value Equity Fund and/or the Blended Small Company Stock Fund thereunder. No
investment allocation election shall represent an actual investment in any such
fund, but shall merely reflect the performance of such fund. Thus, the
Participant's account balance under this Plan shall be adjusted for income,
gains and losses in the same manner as if such Participant had directed the
investment of his or her account balance among one or more of the aforementioned
funds under the Savings and Investment Plan. The Participant's ability to change
the investment allocation of future contributions and existing balances shall be
subject to the same rules and restrictions as apply under the Savings and
Investment Plan. If a Participant fails to specify the allocation of
contributions to this Plan, then earnings, gains and/or losses on such
contributions shall be determined using the returns from the Fixed Income Fund
until changed by the Participant or Beneficiary. Notwithstanding the foregoing,
it will be within the discretion of the Company whether contributions are
actually invested according to each Participant's stated preferences.

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4.4.     Participant's Election of Time and Form of Benefit Distributions.

         (a)      In General. Except as otherwise provided in this Section, a
Participant may elect, subject to the consent of the Company, to receive
benefits under this Plan in the form of a single sum, installments or an annuity
subject to the same duration, terms and conditions under which such methods of
distribution are payable under the Savings and Investment Plan. Such election
shall be made on a form prescribed by the Company and shall require the
Participant to designate the mode of payment requested and the date on which
benefits will commence to be paid. Benefits shall become payable on the date
elected by the Participant in the election form which date shall not be earlier
than the later of (i) twelve (12) months subsequent to the date on which the
Participant files the election form with the Company; and (ii) the day before
the date on which the Participant has a Termination of Employment. If the
Participant has a Termination of Employment prior to attaining age 70 1/2, and
no benefit election form is received from the Participant by April 1st of the
calendar year following the calendar year in which the Participant attained age
70 1/2, such Participant will be deemed to have elected to receive his or her
account balance in the form of a single sum by April 1st of the calendar year
following the calendar year in which he or she attains age 71 1/2, and such
amount shall be paid accordingly.

         (b)      Cash-out of a Participant's Account Balance. If, as of the
date of the Participant's Termination of Employment or such other date which is
established by the Plan Administrator and communicated to the affected
Participants, a Participant's vested account balance does not exceed $20,000,
such Participant's vested account balance will be distributed in a single sum as
soon as practicable following his or her death or Termination of Employment,
notwithstanding

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any election that such Participant may have made under subsection (a) regarding
the form and time of commencing distribution of his or her vested account
balance.

         (c)      No In-Service Withdrawals or Loans. Notwithstanding any
provision in this Plan to the contrary, no benefits under this Plan will be
eligible for any in-service withdrawal by a Participant or any loans to a
Participant.

         (d)      Distributions after Participant's Death. If, at the time of
the Participant's death, benefits had commenced but amounts remained
undistributed to such Participant, then benefit payments shall continue to be
made to the Participant's Beneficiary (determined in accordance with Section
4.5) in accordance with the method by which benefit payments were being made to
the Participant. If, at the time of the Participant's death, benefit payments
had not commenced to be made to him or her, then, except as otherwise provided
in this Article, the Participant's Beneficiary may elect, subject to the consent
of the Company, to receive benefits in the form of a single sum, installments or
an annuity subject to the same duration, terms and conditions under which such
methods of distribution are payable to beneficiaries under the Savings and
Investment Plan. Such election shall be made on a form prescribed by the Company
and shall require the Beneficiary to designate the mode of payment requested and
the date on which benefits will commence to be paid. Benefits payable in any
form shall become payable on the date elected by the Beneficiary in the election
form, which date shall not be earlier than twelve (12) months subsequent to the
date on which the Beneficiary files the election form with the Plan
Administrator, however, the benefit selected must require the entire account
balance to be paid to the Beneficiary no later than the December 31 of the year
which is the fifth anniversary of the Participant's death. If no such election
is made, the attempted election is deemed by the Plan

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Administrator to be ineffective, or the Company does not consent to the time or
method of distribution elected by the Beneficiary, then the Participant's vested
account balance shall be distributed to the Beneficiary in the form of a single
sum as soon as practicable.

4.5      Beneficiary. Except as provided below, the Participant's Beneficiary
shall be the beneficiary designated by the Participant under the Savings and
Investment Plan. However, if the Participant filed a beneficiary designation
under this Plan, such designation shall supersede the Participant's beneficiary
designation under the Savings and Investment Plan and upon the Participant's
death, benefits shall be payable to the primary Beneficiary(ies) designated
under this Plan. If there is more than one beneficiary under the Savings and
Investment Plan or more than one primary Beneficiary under this Plan and the
beneficiary designation does not specify the percentage of the Participant's
benefit to be paid to each such Beneficiary, each Beneficiary shall share
equally in the benefits under the Plan. If one or more Beneficiaries predecease
the Participant, the surviving Beneficiary(ies) shall share equally in the
deceased Beneficiary's portion of the Plan benefits. If all primary
Beneficiaries predecease the Participant, benefits shall be payable to the
contingent Beneficiary(ies) upon the Participant's death. If there is more than
one contingent Beneficiary(ies), and the contingent Beneficiary designation does
not specify the percentage of the Participant's benefit to be paid to each such
Beneficiary, each contingent Beneficiary shall share equally in the benefits
under the Plan. If one or more contingent Beneficiaries predecease the
Participant, the surviving contingent Beneficiary(ies) shall share equally in
the deceased contingent Beneficiary's portion of the Plan benefits. If all
contingent Beneficiaries predecease the Participant, or if there is no
beneficiary designation in effect on the

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date of the Participant's death, benefits will be payable to the Participant's
surviving spouse or, in the absence of such spouse, to the Participant's estate.

4.6.     No Duplication of Benefits. Notwithstanding any provision in this Plan
to the contrary, no benefit shall be payable under this Plan with respect to any
year in which a Participant defers compensation under the MetLife Deferred
Compensation Plan for Officers, or any other plan under which employer matching
contributions are made on account of deferred compensation. Except as provided
in the preceding sentence, no similar benefit that is paid under this Plan shall
be paid under any other deferred compensation plan(s) created by the Company or
any of its affiliates, notwithstanding any provision in this Plan to the
contrary.

Article 5 - Unfunded Plan

         The Plan is completely unfunded, and payment of benefits is supported
only by the general assets of each Company. This Plan is entirely separate from
the Savings and Investment Plan and participation in this Plan gives a
Participant no right to any funds or assets of the Savings and Investment Plan
or of the Company. The fact that contracts or certificates of the Company may be
distributed to recipients of benefits under the Savings and Investment Plan in
discharge of the Company's obligations thereunder shall in no way entitle a
Participant in this Plan to receive any such contract or certificate in
discharge of the Company's obligations hereunder.

Article 6 - Nontransferability of Participant's Interest

         No Participant shall have any power or right to transfer, assign,
mortgage, commute or otherwise encumber any of the benefits payable hereunder,
nor shall such benefits be subject to

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seizure for the payment of any debts or judgments, or be transferable by
operation of law in the event of bankruptcy, insolvency or otherwise.

Article 7 - Effect of Taxes

         In making payments under this Plan, the Company shall withhold any
Federal, state or local income or other taxes it determines that it is legally
obligated to withhold. In the event the payments received by the Participant
result in greater tax burdens (whether income, estate or other tax burdens) than
they would if such payments had been able to be received under the Savings and
Investment Plan, the Company shall have no obligation to reimburse the
Participant for such greater tax burdens.

Article 8 - Administration of the Plan

8.1.     Plan Administrator's Interpretation Binding

         The Plan Administrator is empowered to take all actions it deems
appropriate in administering this Plan. In the event of a difference of opinion
between a Participant and the Plan Administrator with respect to the meaning or
application of the provisions of the Plan, the Plan Administrator's final
interpretation shall be set forth in writing to the Participant and shall be
binding and conclusive. However, once a Change of Control (as defined in Article
11) has occurred, this Article 8 shall no longer apply to differences of opinion
between the Plan Administrator and a Participant regarding the application of
Article 11 of this Plan to a Participant or with regard to any rights or
benefits protected under Article 11 of this Plan or otherwise accrued prior to
the Change of Control including the vesting thereof.

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8.2.     Claims and Review Procedure. Claims for benefits and appeals of denied
claims under the Plan shall be administered in accordance with Section 503 of
ERISA, the regulations thereunder (and any other law that amends, supplements or
supersedes said Section of ERISA), and the procedures adopted by the Plan
Administrator, or its delegate, as appropriate. The claims procedures referenced
above are incorporated herein by reference. The Plan shall provide adequate
notice to any claimant whose claim for benefits under the Plan has been denied,
setting forth the reasons for such denial, and afford a reasonable opportunity
to such claimant for a full and fair review by the Plan Administrator of the
decision denying the claim. Benefits will be paid under the Plan only if the
Plan Administrator, or its delegate, determines in its discretion that the
applicant is entitled to them.

Article 9 - Governing Law

         To the extent not inconsistent with Federal law, the validity of the
Plan and its provisions shall be construed according to the laws of the State of
New York.

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Article 10 - Amendment and Termination of Plan

10.1     Amendment or Termination of the Plan. Except to the extent required by
law, the Plan Administrator may amend or terminate this Plan at any time without
the consent of any Participant or of any other person. However, any such
amendment will not affect adversely the benefit entitlements of:

         (a)      Any Participant receiving benefits under the Plan at or prior
         to the time of such amendment or termination, or

         (b)      Any employee who is a participant in the Savings and
         Investment Plan to the extent of the account balance under this Plan
         prior to the time of such amendment or termination. However, amendments
         may be made to all other aspects of this Plan including, but not
         limited to:

                  (i)      amendments impacting the timing under which the
                           Participant's entire account balance is paid, or,

                  (ii)     amendments impacting the optional forms of
                           distributions for payment of the Participant's entire
                           account.

         Notwithstanding the above, any amendment or group of amendments made
effective on the same date, which would increase or decrease the annual cost of
Plan benefits for active Plan Participants and former Plan Participants by ten
million dollars or more in the aggregate, as determined in good faith by the
Plan Administrator, shall take effect only after the action is authorized or
ratified by the Board of Directors of Metropolitan Life Insurance Company.

10.2     Effect of Change of Control. Notwithstanding the provisions of Section
10.1 above, or any other provision of this plan, on or after a Change of Control
(as defined in Article 11),

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         (a)      amendments can no longer be made to or have any impact upon
                  Article 8, Section 10.2 of Article 10 or Article 11 of this
                  Plan; and

         (b)      Participants who:

                  (i)      accrued rights or benefits under this Plan prior to a
         Change of Control (as defined in Article 11), and,

                  (ii)     whose rights or benefits are not vested at the time
         of the Change of Control cannot have the vesting schedule, applicable
         on the day prior to the Change of Control, amended with regard to such
         rights or benefits, and cannot forfeit, or be deprived of, their right
         to vest in these accrued benefits due to any amendment or termination
         of this Plan.

Article 11. Change of Control

11.1.  Definitions.

         (a)      Change of Control. For the purposes of this Plan, 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 Corporation
                  representing 25% or more of the combined Voting Power of the
                  Corporation's securities;

                           (ii)     within any 24-month period, the persons who
                  were directors of the Corporation at the beginning of such
                  period (the "Incumbent Directors") shall cease to constitute
                  at least a majority of the Board of Directors of the
                  Corporation (the "Board") or the board of directors of any
                  successor to the Corporation;

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                  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 Section 11.1(a)(ii);

                           (iii)    the stockholders of the Corporation approve
                  a merger, consolidation, share exchange, division, sale or
                  other disposition of all or substantially all of the assets of
                  the Corporation which is consummated (a "Corporate Event"),
                  and immediately following the consummation of which the
                  stockholders of the Corporation immediately prior to such
                  Corporate Event do not hold, directly or indirectly, a
                  majority of the Voting Power of (A) in the case of a merger or
                  consolidation, the surviving or resulting corporation, (B) in
                  the case of a share exchange, the acquiring corporation, or
                  (C) 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
                  Corporation immediately prior to such Corporate Event; or

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

         (b)      Corporation. For the purposes of this Article, "Corporation"
means MetLife, Inc.

         (c)      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 (A) the

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Corporation or any Affiliate, (B) 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 (C) any
employee benefit plan (including an employee stock ownership plan) sponsored by
the Corporation, Company or any Affiliate.

         (d)      Voting Power. For purposes of the definition of Change of
Control, "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.

         (e)      Affiliate. For the purposes of this article, 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 Corporation.

         (f)      Cause. For the purposes of this article, "Cause" means either:

                           (i)      the Participant's conviction or plea of nolo
                  contendere to a felony, or,

                           (ii)     any act or acts of dishonesty or gross
                  misconduct on the Participant's part which results or is
                  intended to result in material damage to the business or
                  reputation of MetLife.

         (g)      Good Reason. For the purposes of this article, "Good Reason"
means any of:

                           (i)      any reduction by the Corporation or an
                  Affiliate in the Participant's base salary rate below the rate
                  in effect immediately before the date of the Change of
                  Control;

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                           (ii)     any relocation by the Corporation or an
                  Affiliate of the Participant's usual base work location to any
                  other office or location more than 50 miles from the
                  Participant's usual base work location immediately prior to a
                  Change of Control, except for travel reasonably required in
                  the performance of the Participant's responsibilities;

                           (iii)    if the Participant is a party to an
                  Employment Continuation Agreement with the Corporation or an
                  Affiliate, any circumstance or occurrence constituting "Good
                  Reason" under that Employment Continuation Agreement;

                           (iv)     the failure of the Corporation or an
                  Affiliate to pay the Employee's base salary or employee
                  benefits as required by law.

         11.2. Vesting and Other Rights on and After a Change of Control Subject
to Conditions

In the event that:

         (a)      there is a Change of Control as defined in Section 11.1(a) of
this Article, and,

         (b)      on the date of the Change of Control or on a date before the
second anniversary of the Change of Control, a Participant in this Plan:

                           (i)      is involuntarily terminated from employment
                  by the Corporation or any Affiliate (other than directly in
                  connection with a transfer of employment to or from the
                  Corporation or any Affiliate) without Cause,

                           (ii)     voluntarily terminates employment with the
                  Corporation or any Affiliate for Good Reason,

then the Participant's benefits and rights accrued as of the Change of Control
under the Savings and Investment Plan and this Plan, will vest immediately under
this Plan, notwithstanding any

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other provision of the Savings and Investment Plan or this Plan, or any
amendment or termination of this Plan taking place on or after a Change of
Control.

These account balances will be paid under this Plan according to the ordinary
distribution rules of this Plan. The ordinary distribution rules of this Plan
are described in Article 4 as it existed immediately prior to the Change of
Control.

12/19/03                                    METROPOLITAN LIFE INSURANCE COMPANY
---------
Date

/s/ Teresa Porochnia                            /s/ James N. Heston
-----------------------                        -------------------------------
Witness                                        James N. Heston
                                               Senior Vice President and Plan
                                                    Administrator

                                       16<PAGE>

                                                                   EXHIBIT 10.55

               THE METLIFE DEFERRED COMPENSATION
               PLAN FOR OUTSIDE DIRECTORS

                                         2004

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IMPORTANT NOTICES

This Program Description provides an overview of the MetLife Deferred
Compensation Plan for Outside Directors (the "Plan"). It is also the official
plan document that legally governs the Plan. This plan document will govern in
every respect and instance.

This Program Description may be updated from time to time to implement changes
in the Plan. Fund performance data will be updated periodically. These updates
will constitute part of the Prospectus distributed with respect to the Plan.

The Plan Administrator may amend, alter or terminate the Plan in accordance with
its terms at any time and for any reason.

MetLife, Inc. will have the obligation to pay amounts deferred under the Plan
from and after January 1, 2003. MetLife, Inc.'s obligations have been registered
under the Securities Act of 1933, as amended. Since this is an unfunded plan,
your rights or claims against assets or property are no greater than those of a
general creditor (see "Liability" on page 8).

       This document constitutes part of a prospectus covering securities
     that have been registered under the Securities Act of 1933, as amended.
                  The date of this Prospectus is December 2003.

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PLAN AT-A-GLANCE

PURPOSE                    To provide eligible directors with the opportunity to
                           defer their compensation payable in cash, thereby
                           deferring payment of federal and most state income
                           taxes on that amount.

ELIGIBILITY                Directors of MetLife, Inc. who are not employees of
                           MetLife, Inc. or any of its affiliates.

ELECTION OPTIONS           -  Deferral amount

                           -  Investment tracking funds

                           -  Distribution date

                           -  Number of distribution payments

ENROLLMENT PERIOD          December 9, 2003 - December 31, 2003.

CHANGES TO DISTRIBUTION    You may change either or both the date of payment (to
DATE AND/OR NUMBER OF      a later date) and number of payments, but may do so
PAYMENTS                   only once for each year's deferrals and must do so no
                           later than 12 months prior to the date of payment you
                           originally selected.

INVESTMENT CREDITS         Your deferred compensation account will be credited
                           with gains and losses reflecting the performance of
                           the investment tracking funds you select.

CHANGES IN AMOUNTS         None allowed, except for hardship.
DEFERRED

INVESTMENT TRACKING        Limited to a total of six times per year for either
FUND CHANGES               future deferrals or existing account balances.

DISTRIBUTION

  -  NUMBER                Lump-sum payment or up to 15 annual installments.

  -  TIMING                Beginning upon earlier of 60 days after termination
                           of service as a director or on a designated future
                           date.

  -  ACCELERATED           Immediate lump-sum payment, 10% penalty.

  -  HARDSHIP              Immediate lump-sum payment (availability strictly
                           limited).

TAXES                      Deferred compensation is taxable as ordinary income
                           at the time of distribution.

                           Rollover to an IRA, qualified plan or non-qualified
                           plan is not permitted.

BENEFICIARY                Upon your death, any existing account balance will be
                           paid to your designated beneficiary in a lump sum.

PLAN FUNDING               The Plan is a non-qualified, unfunded plan. Your
                           account is maintained for record-keeping purposes
                           only.

                                                                          Page 3
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METLIFE DEFERRED COMPENSATION PLAN FOR OUTSIDE DIRECTORS

The MetLife Deferred Compensation Plan for Outside Directors (the "Plan") allows
eligible directors to defer receiving a portion of their annual retainer,
committee chair, and meeting fees payable in cash, thereby deferring payment of
federal and most state income taxes until a later date when the deferred
payments are received. Participation in the Plan is completely voluntary.

ELIGIBILITY

Members of the Board of Directors of MetLife, Inc. (the "Board") who are not
employees of MetLife, Inc. or any of its affiliates ("Non-Management Directors")
are eligible to participate. In this Program Description, "you" refers to a
director who is eligible to participate in the Plan.

HOW THE PLAN WORKS

Prior to the year in which your cash fees would be payable, you may designate
all or a portion of those fees for deferral. Deferrals begin with the first fees
payable in cash during a calendar year and end with the last fees payable during
the calendar year. Designations do not carry over from year to year; you must
make a new designation each year.

If you were elected to the Board before October 1 of a given year, you may
designate all or a portion of your cash fees payable in that calendar year by
submitting a deferral election before the earlier of (1) the first meeting for
which you earn fees that you attend; or (2) the thirtieth day after you become
eligible to participate in the Plan. If you choose to defer any of your cash
fees, you must defer at least $10,000.

To defer your compensation, you need to complete a deferral election form
specifying:

-        The percentage of your cash fees you want deferred;

-        The investment tracking funds that will be used to adjust the value of
         your deferred compensation account;

-        A future distribution date; and

-        The number of distribution payments.

The form must be submitted within the enrollment period.

The MetLife Deferred Compensation Plan for Outside Directors is a non-qualified
plan that is unfunded and subject to the risks described in this document.
Amounts credited to an account are solely for record-keeping purposes. The Plan
is not subject to protection under the Employee Retirement Income Security Act
of 1974 (ERISA). See also "Liability" on page 8.

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Before making your elections, you may wish to consult a tax or personal
financial advisor.

All deferrals are subject to the terms of the Plan, which are contained in this
document.

TAXES

Deferred compensation is not subject to current taxation under federal and most
state income tax laws until payment is made to you.

DEFERRAL AMOUNTS

Annually, you may elect to defer all or a portion of your fees payable in cash
in the following year for services as a director of MetLife, Inc., including
retainer fees, meeting fees, and committee chair fees. If you choose to defer
any of your cash fees, you must defer at least $10,000.

Once you elect your deferral amount, you may not change it except for suspension
of deferrals in cases of extreme hardship as provided in the Plan.

DEFERRED COMPENSATION ACCOUNT

A deferred cash account in your name will be established for record-keeping
purposes. You will receive account statements quarterly.

Your account will be credited on the date on which your deferred cash fees are
payable.

INVESTMENT TRACKING FUNDS

Investment tracking funds are used as a device for adjusting the value of your
account based on fund performance.

Each investment tracking fund reflects the investment returns of the actual fund
or index, which are measured on a daily basis. Gains or losses will be credited
or debited from your account, in effect "mirroring" the performance of the
specified fund or index. Your deferrals will not actually be invested in the
funds. If the aggregate performance of the funds mirrored by the investment
tracking funds you choose is positive, the value of your account will increase;
if it is negative, the value of your account will decrease.

The Plan may be amended in accordance with its terms to eliminate or replace any
investment tracking fund at any time.

You can select for your account one or more of 13 investment tracking funds,
each of which mirrors the performance of one of the following actual funds or
indexes.

                                                                          Page 5
<PAGE>

ACTIVELY MANAGED FUNDS

MetLife SIP Fixed Income Fund
Lord Abbett Bond Debenture Fund
Oakmark Fund(R)
MetLife SIP Small Company Stock Fund
Oakmark International Fund

SINGLE-STOCK FUND

MetLife Common Stock Fund

MARKET INDEXES

S&P 500(R)Index
Russell 2000(R)Index
Nasdaq Composite(R)Index
MSCI EAFE(R)Index
Lehman Brothers(R)Aggregate Bond Index
Merrill Lynch US High Yield Master II Index
MSCI EMF Index(SM)

Fund allocations must be made in multiples of 5%.

You may change your investment tracking funds - either with regard to future
deferrals or existing account - at any time during the year by contacting
Nonqualified Plan Services (NQPS) at (phone) (877) 855-6777, (fax) (314)
444-0428; however, you may make no more than six changes per year. You will
receive confirmation of your changes shortly after they are made. Allocations
into and out of the MetLife Common Stock Fund must be pre-cleared with the
MetLife Corporate Secretary in accordance with the MetLife Inside Trading
Policy.

See page 10 for information about the investment tracking funds.

THE DISTRIBUTION DATE

You may choose to have your distributions begin either (1) on a specific date no
less than three years after the year of deferral (for example: for 2004, the
date you will choose may not be earlier than 2008), or (2) upon the termination
of your service as a Non-Management Director of MetLife, Inc. If you choose to
receive your account on a specific date, your account will be paid to you at the
earlier of (a) the date you selected, and (b) within 60 days following the
termination of your service as a director.

Once you have designated a distribution date, you cannot change it except as
described below under "Changing the Distribution Date And/Or Number of
Payments."

NUMBER OF PAYMENTS

You may elect to receive your account balance in either a lump-sum payment or up
to 15 annual installments. Each annual installment will be a fraction of the
account balance with one being the numerator and the number of payments
remaining being the denominator. For example, if you elect to receive 10 annual
payments, the first payment is equal to 1/10th of the account balance; the
second payment is equal to 1/9th of the account balance; and so on until final
payment is made.

                                                                          Page 6
<PAGE>

FORM OF PAYMENTS

All payments will be made in cash.

TAXATION OF PAYMENTS

Payments are subject to deductions in accordance with federal, state and local
tax laws and regulations. Rollover to an IRA, qualified plan or non-qualified
plan is not permitted.

CHANGING THE DISTRIBUTION DATE AND/OR NUMBER OF PAYMENTS

You may make changes only once for each year's deferrals, at which time you may
change either or both: (1) the date you have selected to receive payment of your
deferred compensation; and/or (2) the number of payments you have chosen to
receive, so long as:

-        such changes are made at the same time at least 12 months before the
         original date selected for payment; and

-        if you select a new date for payment, that date must be later than the
         original date selected for payment.

OTHER PLAN FEATURES

PAYMENT TO BENEFICIARIES

If you die before commencement or completion of distributions, the balance in
your account will be paid as a single lump sum to your beneficiary. If you have
not designated a beneficiary, or your beneficiary dies before you do, your
account will be paid to your surviving spouse or, if you are not married at the
time, to your estate. A domestic partner is not considered a surviving spouse
under the Plan.

You may designate an individual, a trustee or your estate as your beneficiary,
and you may change your beneficiary at any time. Your beneficiary designation
will apply to current and all prior year deferrals under the Plan.

You may designate your beneficiary(ies) during each annual enrollment period. If
you wish to change your beneficiary designations during the year, contact NQPS
at (877) 855-6777. NQPS will send you a form on which you can make your new
beneficiary elections.

LOANS

No loans may be taken from your account.

                                                                          Page 7
<PAGE>

HARDSHIP EXCEPTIONS

In cases of extreme hardship, the Plan Administrator may suspend deferrals or
make payments to you, reducing the value of your account. However, the total
amount suspended and advanced cannot exceed the amount required to satisfy the
financial consequences of the hardship and tax withholding requirements.

ACCELERATED DISTRIBUTION

You may take a lump-sum distribution of your account at any time. However, you
will be charged a 10% penalty by the Plan Administrator.

LIABILITY

Deferrals under the Plan are unfunded and unsecured obligations of MetLife, Inc.
Your rights are those of a general creditor of MetLife, Inc.

ASSIGNMENT

No assignment or pledge of the right to receive the payment of amounts deferred
or any other rights under the Plan may be made.

                            INTENTIONALLY LEFT BLANK

                                                                          Page 8
<PAGE>

CHANGE OF CONTROL PROTECTION

You will have the opportunity to choose to have your deferred compensation
account paid to you if your service as a Non-Management Director ends within two
years of a change of control of MetLife, Inc.(*) Payment would be made shortly
after your service ends, and this election would take precedence over your usual
deferral payment election. You will have the opportunity to make this election
only once for your entire deferred compensation account.

PLAN ADMINISTRATOR

The Plan is administered by a Plan Administrator who may establish, amend or
rescind rules and regulations relating to the Plan. The Plan Administrator of
this Plan is also the Plan Administrator of the Metropolitan Life Retirement
Plan for U.S. Employees. The Employee Benefits Committee of the Metropolitan
Life Insurance Company appoints the Plan Administrator of the Retirement Plan,
who serves until such time as the Committee appoints a new Plan Administrator.

The Plan Administrator may amend, modify, suspend, or terminate the Plan at any
time and for any reason, except as otherwise required by law. The Plan
Administrator, however, may not amend, modify or terminate the Plan in a way
that will reduce the

----------
* "Change of Control" shall mean the occurrence of any of:

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

b.   within any 24-month period, the persons who were directors of 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 MetLife, Inc.
     (the "Board") or the board of directors of any successor to MetLife, Inc.;
     provided, however, that any director elected or nominated for election to
     the Board of Directors of MetLife, Inc. by a majority of the Incumbent
     Directors then still in office shall be deemed to be an Incumbent Director
     for purposes of this subsection 21.3.2;

c.   the stockholders of MetLife, Inc. approve a merger, consolidation, share
     exchange, division, sale or other disposition of all or substantially all
     of the assets of MetLife, Inc. which is consummated (a "Corporate Event"),
     and immediately following the consummation of which the stockholders of
     MetLife, Inc. immediately prior to such Corporate Event do not hold,
     directly or indirectly, a majority of the Voting Power of (1) in the case
     of a merger or consolidation, the surviving or resulting corporation, (2)
     in the case of a share exchange, the acquiring corporation, or (3) 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

d.   any other event occurs which the Board of Directors of MetLife, Inc.
     declares to be a Change of Control.

For purposes of the definition of Change of Control: 1) "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 (i) MetLife, Inc. or any Affiliate of
MetLife, Inc., (ii) the MetLife Policyholder Trust (and 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 (iii) any employee benefit plan
(including an employee stock ownership plan) sponsored by MetLife, Inc. or any
Affiliate of MetLife, Inc.; 2) "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; 3) "Voting Securities"
shall mean all securities entitling the holders thereof to vote in an annual
election of directors of a company; and 4) "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, MetLife, Inc.

                                                                          Page 9
<PAGE>

amount that has been accrued in your deferred compensation account prior to the
effective date of the amendment, modification or termination.

The determinations and interpretations of the Plan made by the Plan
Administrator shall be final, binding, and conclusive for all purposes under the
Plan. The Plan Administrator may prescribe forms for participants to take action
authorized or allowed under the Plan and may appoint agents and consult legal
counsel and other professionals to assist in administration of the Plan. The
Plan Administrator may, in his or her sole discretion, adjust the value of a
deferred compensation account on a basis other than as prescribed in deferral or
reallocation elections, including but not limited to the use of investment
tracking funds other than those selected by the participant.

INVESTMENT TRACKING FUNDS - ADDITIONAL INFORMATION

Each investment tracking fund mirrors the performance of the actual fund or
index it respectively tracks. Following are descriptions and performance data
for the actual funds and indexes.

There is no guarantee that any of the funds will achieve its objectives or
increase in value. Unless you choose the investment tracking fund for the
MetLife SIP Fixed Income Fund, your deferrals may lose value. Each actively
managed fund has investment management fees and/or other expenses associated
with it. The descriptions below are derived from information provided by the
funds or other sources deemed to be reliable.

ACTIVELY MANAGED FUNDS

METLIFE SIP FIXED INCOME FUND: This fund is an individually managed separate
account available under a Metropolitan Life Insurance Company group annuity
contract. The fund seeks to achieve the highest possible current income
consistent with the preservation of capital and predictable growth through a
stable interest rate by investing in Guaranteed Interest Contract Alternatives
or similar contracts.

LORD ABBETT BOND DEBENTURE FUND: This fund (the Lord Abbett Bond Debenture
Portfolio of the Met Investor Series Trust) is a mutual fund investment choice
available under various variable insurance contracts issued by Metropolitan Life
Insurance Company and its affiliates. The fund seeks to provide high current
income and the opportunity for capital appreciation to produce a high total
return. Under normal circumstances, the fund invests at least 80% of its net
assets in debt securities. The fund normally invests substantially all of its
assets in high-yield and investment-grade debt securities. It may invest in
convertible securities. Up to 80% of the fund's assets may be invested in
high-yield/high-risk debt securities ("junk bonds"). At least 20% of the fund's
assets must be invested in any combination of investment-grade debt securities,
U.S. Government securities and cash equivalents. The fund may also invest up to
20% of its net assets in equity securities of large cap companies. The fund may
also invest up to 20% of its net assets in foreign debt and equity securities.
(1,3)

                                                                         Page 10
<PAGE>

OAKMARK FUND(R): This fund is a mutual fund and seeks to achieve long-term
capital appreciation following a value style by investing primarily in the
common stocks of U.S. companies.

METLIFE SIP SMALL COMPANY STOCK FUND: This fund is an individually managed
separate account available under a Metropolitan Life Insurance Company group
annuity contract. The fund seeks to achieve long-term growth of capital by
investing in the stocks of smaller U.S. companies with strong growth potential
and to outperform the Russell 2000(R) Growth Index. This index measures the
performance of Russell 2000 companies with higher price-to-book ratios and
higher forecasted growth values.(2)

OAKMARK INTERNATIONAL FUND: This fund is a mutual fund and seeks to achieve
long-term capital appreciation following a value style by investing primarily in
the common stocks of non-U.S. companies in mature and less-developed markets.
There are no limits on the geographic asset distribution, but the fund does not
expect to invest more than 5% of its assets in securities of companies in
emerging markets.(3)

MARKET INDEXES

S&P 500(R)INDEX: This index includes some of the 500 largest capitalized stocks
in the U.S. and is one of the most widely recognized used benchmarks of U.S.
equity performance. Stocks that are not included among the 500 largest are
included in the index for diversification purposes.

RUSSELL 2000(R)INDEX: This index measures stock performance of 2,000 smaller
U.S. companies with market capitalization under $1.3 billion.(2)

NASDAQ COMPOSITE(R)INDEX: The Nasdaq Composite Index measures all Nasdaq
domestic and international-based common-type stocks listed on the Nasdaq Stock
Market. The Nasdaq Composite includes over 4,000 companies. (3, 4)

MSCI EAFE(R)INDEX: The Morgan Stanley Capital International Europe, Australasia,
Far East Index is a benchmark of developed stock market performance, excluding
the United States and Canada.(3)

LEHMAN BROTHERS(R) AGGREGATE BOND INDEX: A benchmark index comprised of the
Lehman Brothers Government/Credit Bond Index, the Lehman Brothers
Mortgage-Backed Securities Index, the Lehman Brothers Asset-Backed Securities
Index and the Lehman Brothers Commercial Mortgage-Backed Securities Index. Fixed
income securities in the index include debt obligations issued or guaranteed by
the U.S. government or its agencies and instrumentalities, debt issued or
guaranteed by U.S. corporations, foreign companies, municipalities, asset-backed
government and international agencies and mortgage-backed securities.

                                                                         Page 11
<PAGE>

MERRILL LYNCH US HIGH YIELD MASTER II INDEX: The Merrill Lynch U.S. High Yield
Master II Index tracks the performance of below investment-grade U.S.
dollar-denominated corporate bonds publicly issued in the U.S. domestic market.
(1)

MSCI EMF INDEX(SM): The MSCI EMF (Emerging Markets Free) Index is designed to
measure equity market performance in global emerging markets. As of April 2002,
the MSCI EMF Index consisted of the following 26 emerging market country
indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt,
Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco,
Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand,
Turkey and Venezuela.(3)

SINGLE-STOCK FUND

METLIFE COMMON STOCK FUND: The performance of this fund will depend on the price
of MetLife, Inc. common stock, which is affected by market conditions and other
factors, such as declared dividends. Like other individual stock funds, the
MetLife Common Stock Fund is anticipated to have a relatively high risk profile.
The performance of this fund includes the value of reinvested dividends, if any.

----------

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

(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.

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

(4)This index is comprised to a significant degree 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.

                                                                         Page 12
<PAGE>

               HISTORIC FUND & INDEX PERFORMANCE BY CALENDAR YEAR
                            As of September 30, 2003

Past performance is not a guarantee of future results. Note: Unit values
fluctuate and amounts received upon distribution may be more or less than
deferrals and any matching contributions.

<TABLE>
<CAPTION>
            ACTIVELY MANAGED FUNDS              YEAR-TO-DATE   2002    2001     2000    1999
----------------------------------------------  ------------  ------  ------   ------  ------
<S>                                             <C>           <C>     <C>      <C>     <C>
MetLife SIP Fixed Income Fund(1)                    3.72%       5.80%   7.00%    6.70%   6.45%
Lord Abbett Bond Debenture Fund(2)                 13.38%      -9.63%  -1.32%   -0.95%  17.82%
Oakmark Fund(R)(3)                                 12.53%     -14.72%  18.29%   11.78% -10.47%
MetLife SIP Small Company Stock Fund(1)            28.15%     -19.98%  -9.82%  -11.36%  46.89%
Oakmark International Fund(3)                      19.25%      -9.32%  -5.13%   12.50%  39.47%
MARKET INDEXES
S&P 500(R)Index(4)                                 13.20%     -23.37% -11.89%   -9.11%  20.88%
Russell 2000(R)Index(5)                            27.30%     -21.58%   2.49%   -3.02%  21.26%
Nasdaq Composite(R)Index(5)                        33.80%     -31.53% -21.05%  -39.29%  85.59%
MSCI EAFE(R)Index(6)                               15.82%     -17.52% -22.33%  -15.52%  25.27%
Lehman Brothers(R)Aggregate Bond Index(7)           4.15%      11.38%   8.44%   11.63%  -0.82%
Merrill Lynch US High Yield Master II Index(6)     20.40%      -1.89%   4.34%   -5.00%   2.51%
MSCI EMF Index(SM)(6)                             29.29%      -7.97%  -4.78%  -31.89%  63.70%
METLIFE COMMON STOCK FUND(8)                        3.74%     -14.55%  -9.40%  145.56%     --
</TABLE>

----------

(1) MetLife SIP Fixed Income Fund has declared that its rate for 2003 is 5.00%.
Both the MetLife SIP Fixed Income Fund and Small Company Stock Fund are
individually managed separate accounts available under Metropolitan Life
Insurance Company group annuity contracts. All performance is shown net of
investment management fees and other expenses.

(2) The Lord Abbett Bond Debenture Fund (Lord Abbett Bond Debenture Portfolio of
the Met Investors Series Trust) is a mutual fund investment choice available
under various variable insurance contracts issued by Metropolitan Life Insurance
Company and its affiliates. The Loomis Sayles High Yield Bond Portfolio of the
Metropolitan Series Fund was merged into the Lord Abbett Bond Debenture
Portfolio after the close of business on April 26, 2002. Performance for the
Lord Abbett Bond Debenture Portfolio includes performance of the Loomis Sayles
High Yield Bond Portfolio prior to April 27, 2002, and performance of the Lord
Abbett Debenture Portfolio after April 26, 2002. All performance is shown net of
the Lord Abbett Bond Debenture Portfolio's investment management fees and other
expenses.

(3) The Oakmark Fund and the Oakmark International Fund are mutual funds. All
performance is shown net of investment management fees and other expenses.

(4) Performance data for all years are based on the records of Nonqualified Plan
Services (NQPS), except 2001, which is from a public source.

(5) Performance data for 2002 is based on the records of NQPS. All other data
are from public sources.

(6) Performance data are based on the records of NQPS.

(7) Performance data are based on information from a public source.

(8) Performance data obtained from MetLife, Inc. 2000 performance is shown from
April 5, 2000, the date of the Initial Public Offering. The performance data
provided here for all periods presented includes the reinvestment of dividends.

                                                                         Page 13
<PAGE>

PROSPECTUS INFORMATION

In connection with the obligations of MetLife, Inc. under the Plan, the
following constitute the prospectus meeting the requirements of Section 10(a) of
the Securities Act of 1933, as amended:

1.   The information set forth in this Program Description;

2.   Any other written documents delivered to participants updating or revising
     the information in item 1 above. Those documents will contain a legend
     indicating that they constitute a part of the prospectus covering the
     obligations being offered as permitted by the Plan;

3.   Each of the following documents filed by MetLife, Inc. with the Securities
     and Exchange Commission (the "Commission"), which are incorporated by
     reference in this prospectus:

     a)   MetLife, Inc.'s Annual Report on Form 10-K for the year ended December
          31, 2002;

     b)   All other reports filed by MetLife, Inc. with the Commission pursuant
          to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as
          amended, since December 31, 2002; and

     c)   All documents subsequently filed by MetLife, Inc. pursuant to Sections
          13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as
          amended, prior to the filing of a post-effective amendment which
          indicates that all securities offered have been sold or which
          de-registers all securities then remaining unsold.

You may obtain a copy of the above filings described in items 1 and 2, at no
cost, by calling Nonqualified Plan Services at 1-877-855-6777. Filings described
in item 3 and any other documents MetLife, Inc. provides to its shareholders may
be obtained, at no cost, at www.metlife.com (by clicking on Investor Relations)
or by calling 1-800-649-3593. You may also request copies of any of the above
documents by writing to the MetLife Corporate Secretary, 1 Madison Avenue, New
York, NY 10010.

                                                                         Page 14
<PAGE>

IN WITNESS WHEREOF, the Plan Administrator has executed this amended and
restated this MetLife Deferred Compensation Plan for Outside Directors,
effective December 9, 2003.

PLAN ADMINISTRATOR

/s/ James N. Heston
-------------------------
James N. Heston

Date: 12/12/03
-------------------

Witness: /s/ Teresa Porochnia
         ----------------------------

                                                                         Page 15

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