Document:

Prudential Financial, Inc. Non-Employee Director Compensation Summary

 EXHIBIT 10.29 
 Prudential Financial, Inc. 
 Non-Employee Director Compensation Summary

 (As adopted on November 9, 2010) 
 Upon becoming a director, each non-employee director (a “Director”) receives a one-time grant of $120,000 in Prudential Financial restricted stock units that vest after one year and are deferred
until retirement from the Board under the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors. 
 Each
Director receives an annual retainer of $240,000 of which (i) 50% is payable in cash that may be deferred at the Director’s option and (ii) 50% is paid in the form of restricted stock units that vest after one year. If the Director
satisfies the Director Stock Ownership Guidelines, the restricted stock units are payable in stock or cash (at the Director’s option) at vesting and may be deferred beyond vesting at the Director’s option. If the Director does not satisfy
the Director Stock Ownership Guidelines, the restricted stock units are automatically deferred until retirement from the Board under the Prudential Financial, Inc. 2011 Deferred Compensation Plan for Non-Employee Directors. 

The Chairperson of the Audit Committee receives an additional $25,000 retainer payable in cash that may be deferred at the Director’s option.

 The Chairperson of the Compensation Committee receives an additional $20,000 retainer payable in cash that may be deferred at the
Director’s option. 
 All Committee Chairpersons other than the Chairpersons of the Audit Committee and Compensation Committee receive an
additional $15,000 retainer payable in cash that may be deferred at the Director’s option. 
 The Lead or Presiding Director receives an
additional $50,000 retainer payable in cash that may be deferred at the Director’s option. 
 There are no other retainer fees for
Committee membership or meeting fees, other than fees for attending meetings of the Community Resources Committee (which generally meets on a day separate from Board meetings). Members of this committee receive $1,250 per meeting. 

Note: For purposes of this policy, “retirement” means the Director’s termination of service on the Board for any reason
regardless of the Director’s age at the time of retirement.First Amendment to the Prudential Insurance Supplemental Executive Retirement

 Exhibit 10.35 
 FIRST AMENDMENT TO  
 THE PRUDENTIAL INSURANCE

 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN  

(As Amended and Restated January 1, 2009) 
 WHEREAS, The Prudential Insurance Supplemental Executive Retirement Plan (the “Plan”) was amended and restated, effective as of January 1, 2009, to comply with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”); 
 WHEREAS, in connection with such
restatement, the most senior Vice President responsible for Corporate Human Resources (“Authorized Officer”) was authorized to make such additional amendments to the Plan as she deemed necessary or appropriate to address the requirements
of Section 409A; 
 WHEREAS, the Authorized Officer delegated the Authority to Haroon Saeed, Vice President, Compensation;
and 
 WHEREAS, it has been determined that, to facilitate the administration of the Plan and to assure compliance with such
Section 409A of the Code, both as to the Plan benefits and other benefits that may be payable to the same person conditioned upon the execution of such a release, the time at which a release needs to be delivered to qualify to receive the
benefits payable under the Plan should be modified to allow coordination among the various applicable benefit plans. 
 NOW,
THEREFORE, effective as of January 1, 2010, Section 4.4 of the Plan is hereby amended and restated in its entirety to read as follows: 
 Release. Except in the case of any Accrued Benefits that will commence to be paid on account of the death of the Participant, any Accrued Benefits accrued under this Plan shall be null and void and
not be payable if the Participant shall fail to execute a Release (or, having timely executed such Release, shall revoke any such Release during the period permitted at law for revocation of such Release) within such period that the Company or the
Committee shall specify from time to time, which period shall in all events begin following his Termination of Employment and end prior to the date payment of benefits are scheduled to commence hereunder. Subject to applicable law, any breach by a
Participant of a Release shall give the Company the right to forfeit any and all future payments to the Participant under the Plan and to recover any benefits previously paid, as well as the right to reimbursement by the Participant of any attorney
fees and costs expended by the Company in enforcing such right of return.
 IN WITNESS WHEREOF, The
Prudential Insurance Company of America, by action of the undersigned duly authorized officer, has caused this amendment to the Prudential Insurance Supplemental Executive Retirement Plan to be executed this 14th day of December 2010. 

 

	
	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA.
	
	 /s/ Haroon Saeed

	 Haroon Saeed

Vice President, CompensationPrudential Financial, Inc. 2011 Deferred Compensation Plan

 EXHIBIT 10.39 
 PRUDENTIAL FINANCIAL, INC. 
 2011 DEFERRED COMPENSATION PLAN FOR
NON-EMPLOYEE DIRECTORS 
 Prudential Financial, Inc. (the “Company”) hereby establishes a nonqualified
deferred compensation plan for members of the Board of Directors of the Company who are not employees or officers of the Company (“Non-Employee Directors”) to be known as the Prudential Financial, Inc. 2011 Deferred Compensation Plan for
Non-Employee Directors (the “Plan”). The purpose of the Plan is to enhance the Company’s ability to attract and retain Non-Employee Directors whose training, experience and ability will promote the interests of the Company and to
directly align the interests of such Non-Employee Directors with the interests of the Company’s stockholders. The Plan is designed to permit Non-Employee Directors to defer the receipt of all or a portion of the compensation otherwise payable
to them for services to the Company as members of the Board. 
 The Plan is effective as of January 1, 2011 (the
“Effective Date”). The Plan is intended to be, and shall be administered as, an unfunded plan maintained for the purpose of providing deferred compensation for the Non-Employee Directors and, as such, is not an “employee benefit
plan” within the meaning of Title I of ERISA (as defined below). The Plan is intended to be a continuation of the Prudential Deferred Compensation Plan for Non-Employee Directors (as amended through October 7, 2007, the “Predecessor
Plan”). All deferrals from and after the Effective Date shall be made under the Plan and no deferrals will be made under the Predecessor Plan. 
 ARTICLE I  
 DEFINITIONS 

(a) “Adjustment Event” means any stock dividend, stock split or share combination of, or extraordinary cash dividend on, the
Common Stock or recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, dissolution, liquidation, exchange of shares, warrants or rights offering to purchase Common stock at a price substantially below fair market
value or other similar event affecting the Common Stock of the Company. 
 (b) “Board” means the Board of Directors of
the Company. 
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means the Committee that has been appointed by the Board pursuant to Article V of the Plan. 

(e) “Common Stock” means the common stock, par value $0.01, of the Company. 

(f) “Company” means Prudential Financial, Inc. 
 (g) “Deferred Compensation Accounts” shall have the meaning set forth in Article III of the Plan. 

 (h) “Deferred Stock Units” shall have the meaning set forth in Section 3.3(b)
of the Plan. 
 (i) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

(j) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(k) “Fees” includes all fee income payable to Non-Employee Directors for their service on the Board, including, but not limited
to (i) annual retainer fees (whether paid in equity or cash), (ii) meeting fees (including orientation meeting fees), and (iii) compensation that may be payable to such Non-Employee Directors for serving on any of the committees of
the Board, as chairperson of any of the committees of the Board or as Lead Director. The term “Fees” does not include travel payments that may be made to such Non-Employee Directors as a result of attending meetings of the Board, payments
that constitute reimbursement for expenses incurred by such Non-Employee Director in connection with his or her services to the Board, nor any fees that may be payable to such Non-Employee Director for service as a trustee of The Prudential
Foundation. 
 (l) “Fixed Units” shall have the meaning set forth in Section 3.3(b) of the Plan. 

(m) “Non-Employee Director” means any Director of the Company who is not a salaried officer or employee of either the Company
or any of its affiliates. 
 (n) “Participant” means a Non-Employee Director of the Company (and, if applicable, their
beneficiaries) who has elected to (or been required to) participate in the Plan. 
 (o) “Plan Year” means the calendar
year. 
 (p) “Retirement Date” means the first day of the month following the month in which the Participant
terminates his or her services as a Non-Employee Director. 
 (q) “Subsidiary” means any corporation or partnership in
which the Company owns, directly or indirectly, more than 50% of the total combined voting power of all classes of stock of such corporation or of the capital interest or profits interest of such partnership. 

(r) “Unforeseeable Emergency” means a severe financial hardship to the Participant resulting from an illness or accident of the
Participant or the Participant’s spouse or dependents; loss of the Participant’s property due to casualty; or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.
Whether a Participant has an Unforseeable Emergency shall be determined on the particular facts and circumstances pertaining to such Participant, in accordance with the provisions of Section 409A of the Code and the regulations promulgated
thereunder. 

  
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 ARTICLE II 
 PARTICIPATION REQUIREMENTS 
 2.1. Eligibility. All
Non-Employee Directors are eligible to participate in the Plan. A Non-Employee Director will be deemed a Participant in the Plan if he or she defers all or a portion of the Fees to be earned during a Plan Year as provided herein. 

2.2. Elections. 
 (a) General Rules. The election to defer all or a portion of the Participant’s Fees for the next Plan Year, as well as the election of the form and timing of any distributions on the
Participant’s behalf with respect to amount deferred during such Plan Year, shall be made by written notice delivered by the Participant to the Company not later than the last day of the open trading window under the Company’s Personal
Securities Trading Policy immediately preceding the first day of such Plan Year. In the case of a Non-Employee Director who first becomes eligible during such Plan Year, such election must be made by written notice not later than thirty
(30) days after such Non-Employee Director first becomes a member of the Board; provided, however, that with respect to such initial elections, no Fees attributable to the period before which the election is made and presented to the Company
are eligible for deferral under this Plan. Each such election shall be irrevocable during such Plan Year and thereafter, except as set forth below. 
 (b) Amendment of Election Form. Each Participant may amend his or her election forms with respect to his or her Deferred Compensation Account balance (i) to change the previously-elected form
of distribution in respect of all distributions under the Plan to another distribution form permitted under Section 4.1, or (ii) to change the starting date for commencement of all payments under the Plan to another definitely determinable
date, provided, however that such election shall be made during an open trading window under the Company’s Personal Securities Trading Policy. Notwithstanding the foregoing, to be effective, any election made pursuant to this
Section 2.2(b) must satisfy the following conditions: (x) it must be made at least twelve months prior to the date as of which distribution to the Participant in respect of his or her Deferred Compensation Account would otherwise have been
made to the Participant and (y) it must defer the commencement date of distribution to the Participant in respect of his or her Deferred Compensation Account for at least five (5) years from the date that would have applied absent such
election. 
 ARTICLE III 
 DEFERRED COMPENSATION ACCOUNTS 
 3.1. Establishment of Deferred
Compensation Accounts. An account shall be established for each Participant which shall be designated as his or her Deferred Compensation Account. Each Participant’s Deferred Compensation Account may be sub-allocated as a recordkeeping
matter and accounting convenience, but the Company shall not be required to segregate any amounts credited to the Deferred Compensation Accounts in any manner or in any form, except in its sole discretion. 

3.2. Crediting of Fees to Deferred Compensation Accounts. Upon the execution of a valid election form pursuant to
Section 2.2(a) with respect to the deferral of Fees attributable to services performed by the Participant in the next Plan Year, such Fees shall be credited to the Participant’s Deferred Compensation Accounts as and when such Fees would
have otherwise been paid to the Participant (i.e. on the last business day of each calendar quarter to which such Fees relate). 

  
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 3.3. Earnings Indices and Investment Options; Allocation Limitations. A
Participant’s Deferred Compensation Account will be credited with notional interest, earnings (and, where applicable, notional investment gain or loss) that are intended to mirror the investment performance and results of the notional
investment options made available under the Plan from time to time and selected by the Participant on the Participation Agreement, subject to the limitations set forth below: 

(a) Sub-Allocation of Deferred Compensation Accounts. Amounts credited to each Participant’s Deferred
Compensation Account shall be identified in the Plan’s records as comprised of two subaccounts, as follows: 

(i) Amounts credited to an applicable Participant’s Deferred Compensation Account as a result of mandatory/required
deferrals under the Company’s compensation program for Non-Employee Directors as may be in effect from time to time (the “Mandatory Deferrals”); and 

(ii) Amounts credited to an applicable Participant’s Deferred Compensation Account as a result of elective deferrals
of Fees by the Participant (the “Elective Deferrals”); 
 (b) Available Notional Investment Options
under the Plan. The Committee may from time to time determine the notional investment options available to Participants under the Plan, which notional investment options shall include deferred stock units intended to mirror the performance of
shares of Common Stock (“Deferred Stock Units”), with each Deferred Stock Unit the equivalent of one share of Common Stock and fixed units intended to mirror the performance of the Fixed Rate fund, on of the actual investment options
available to participants of the Prudential Employee Savings Plan (“Fixed Units”). Other notional investment options, if any, may, but are not required to, mirror some or all of the investment alternatives made available from time to time
to participants of the Prudential Employee Savings Plan. 
 (i) With respect to amounts deemed allocated to Fixed
Units, or other notional investment options other than the Deferred Stock Units, if any, such amounts will be credited with interest or earnings (or losses), as applicable, in the same general manner as interest or earnings (and losses), as
applicable, would be credited to amounts invested in the Fixed Rate Fund or other actual investment fund, as applicable. 
 (ii) With respect to amounts deemed allocated to Deferred Stock Units by any Participant, such amounts will be credited under the Plan as if the Participant had actually purchased shares of Common Stock
on the date of such deferral. If dividends on the Common Stock are declared while a Participant holds Deferred Stock Units in his or her Deferred Compensation Account, additional Deferred Stock Units will be credited to such Deferred Compensation
Account in the following manner. First, a notional value equal to the cash value of dividends that would be paid upon the same number of whole shares of Common Stock as the Participant has Deferred Stock Units in his or her Deferred Compensation
Account on the 

  
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dividend crediting date (e.g., the date such dividend is payable) will be calculated. Second, such notional value will be deemed to be allocated to the Participant’s Deferred Compensation
Account and credited to a corresponding number of Deferred Stock Units to such Deferred Compensation Account (in whole or fractional units) as of the same date, as soon as administratively practicable. 

(c) Allocation Limitations. Generally, a Participant may elect a combination of the available notional investment
options with respect to the amount of Fees deferred under the Plan, subject to the limitations set forth below: 

(i) Mandatory Deferrals. With respect to any Mandatory Deferrals, such amounts (and any notional dividends paid
with respect to such amounts) may only be allocated to the Deferred Stock Units under the Plan. 
 (ii)
Elective Deferrals. With respect to any Elective Deferrals, such amounts (including any earnings) may be allocated to Deferred Stock Units, Fixed Units or any other notional investment option made available under the Plan; provided, however,
that the Participant’s allocation of his or her account must be stated in five percent (5%) increments. 
 (d) Changing Notional Investment Options. Subject to the allocation limitations set forth in Section 3.3(c) above, a Participant may change how the notional amounts reflected in his or her
account are deemed invested by completing an account reallocation form. Such deemed investment allocations may be changed periodically during an open trading window under the Company’s Personal Securities Policy, and in no event more than once
per calendar quarter. Changes will be effective the first day of the following month (or at such other time as the Committee may determine). To the extent that additions to, or subtractions from, the number of indices/notional investment options are
made under this Plan, Participants will be asked to complete an account reallocation form to indicate if they wish to reallocate their notional account balances. In the event no such form is received, no changes to the Participant’s account
will be made except that, in the event a particular notional investment option is eliminated and no form has been completed, the notional amounts credited in such eliminated option shall be credited under the Fixed Units (or, if such option has been
eliminated, a notional investment equivalent to any money market fund option offered under the Prudential Employee Savings Plan) as of the date of such elimination (or as soon as administratively practicable thereafter). 

(e) Account Valuation. With respect to any distribution for a Participant’s Deferred Compensation Account as
provided for in Article IV of the Plan, the aggregate value of any such distribution shall be calculated by reference to the notional value of the Deferred Compensation Account as of the last day of the month prior to the month in which such
distribution is either anticipated to commence or has been requested to commence by the Participant (or Beneficiary, as applicable). 

  
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 ARTICLE IV 
 DISTRIBUTIONS FROM THE PLAN 
 4.1. Timing and Form of
Distribution. The Company shall pay to the Participant (or, in the event of the Participant’s death, to the Participant’s designated beneficiary) a sum equal to the amount then standing to his or her credit in his or her Deferred
Compensation Account (plus earnings as provided for under Section 3.3 herein), in the following manner: 

(a) Retirement Distributions. Payment of a Participant’s Mandatory Deferrals for any Plan Year and, unless an
In-Service Distribution is elected pursuant to Section 4.1(b), payment of the Participant’s Elective Deferrals for any Plan Year shall be made in the following manner: 

(i) Lump Sum or Installment Payments. Payments shall be made in a lump sum, or in installments (either five
(5) or ten (10) annual installments, if the form of distribution is Common Stock or cash, and/or sixty (60) or one hundred twenty (120) monthly installments, if the form of distribution is cash), as elected by the Participant in
his or her deferral election form, to begin on either (i) within 90 days following the Participant’s Retirement Date, (ii) such later date as selected by the Participant in accordance with the provisions of Section 2.2. In the
event an installment option is chosen, such installments shall be as nearly equal as practicable and shall continue even if the Participant again serves on the Board. The form of distribution shall be either cash or Common Stock, at the election of
the Participant. 
 (ii) Small Account Balances – Lump Sum Cashout. Notwithstanding the foregoing, in
the event the amount scheduled for distribution on or following the Participant’s Retirement Date in installments (rather than lump sum) is ten thousand dollars ($10,000) or less at the time distributions would commence by reason of the
application of this Section 4.1(a), payment of such portion of Participant’s Deferred Compensation Account balance shall be made in a single lump sum in cash within 90 days of the date such distribution would otherwise have commenced,
notwithstanding the form of benefit payment elected by the Participant. For purposes of this Section, a Participant’s account balance shall be valued in accordance with the general provisions of Section 3.3(e). 

(b) Scheduled In-Service Distributions. A Participant may elect pursuant to Section 2.2 to receive payment of
the Participant’s Elective Deferrals for any Plan Year while the Participant is still a member of the Board (an “In-Service Distribution”) in the following manner: 

(i) Lump Sum or Installment Payments. Payments shall be made in a lump sum, or in installments (either five
(5) or ten (10) annual installments, if the form of distribution is Common Stock or cash, and/or sixty (60) or one hundred twenty (120) monthly installments, if the form of distribution is cash), as elected by the Participant in
his or her deferral election form, to begin on such date as specified by the Participant on his or her deferral election form, which date shall be at least two (2) years after the end of the Plan Year with respect to which such Elective
Deferrals relate. In the event an installment option is chosen, such installments shall be as nearly equal as practicable. The form of distribution shall be either cash or Common Stock, at the election of the Participant. 

(ii) Separate Annual Elections. Any desired In-Service Distribution must be separately elected for each Plan
Year’s Elective Deferrals. 
 (iii) Termination of Board Service. Notwithstanding the above, if the
Participant’s service on the Board either before payments under the In-Service Distribution commence or while such payments are being made, the In-Service Distribution shall cease and the balance of the Participant’s Deferred Compensation
Account shall be paid in accordance with the Participant’s election pursuant to Section 4.1(a). 

  
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 (iv) Small Account Balances – Lump Sum Cashout. Notwithstanding
the foregoing, in the event the amount scheduled for an In-Service Distribution with respect to a Plan Year’s Elective Deferrals is ten thousand dollars ($10,000) or less at the time distribution of the In-Service Distribution would commence,
payment of such In-Service Distribution shall be made in a single lump sum on the first scheduled payment date, notwithstanding the form of benefit payment elected by the Participant. For purposes of this Section, a Participant’s account
balance shall be valued in accordance with the general provisions of Section 3.3(e). 
 (c) Normal Form
of Benefits. In the event no election is made pursuant to this Article IV, payments shall be made in lump sum within 90 days following the Participant’s Retirement Date, with the portion of the Participant’s Deferred Compensation
Account notionally invested in Deferred Stock Units distributed in Common Stock and the remainder distributed in cash. 
 (d) Death of Participant. Notwithstanding the above, if the Participant dies (either before payments commence from the Plan or while such payments are being made), the balance of the
Participant’s Deferred Compensation Account shall immediately become due and payable in one lump sum in cash to the Participant’s beneficiary or, if no beneficiary is designated or then living, to the Participant’s estate within 90
days of the date of the Participant’s death. 
 4.2. Distribution Due to Unforeseeable Emergency. A Participant may,
upon submission such evidence thereof as the Committee shall require, receive a distribution from his or her Deferred Compensation Account on account of an Unforseeable Emergency. The amount that may be distributed pursuant to the immediately
preceding sentence shall not exceed the amount necessary to resolve the financial need arising due to an Unforseeable Emergency and the taxes that would due upon such distribution. In no event shall any financial need be deemed an Unforseeable
Emergency to the extent that the related financial need is or may be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant’s assets, to the extent such liquidation would not itself cause
severe financial hardship, or by cessation of deferrals under the Plan. Any distribution on account of an Unforeseeable Emergency shall be made within 30 days of the date that the Committee shall have determined that such an Unforeseeable Emergency
exists to enable the Participant to receive a distribution under this Section 4.2. 
 ARTICLE V 

ADMINISTRATION OF THE PLAN 
 5.1. Administration of the Plan. The Board shall appoint a Committee to administer the Plan, which shall be comprised of one or more executive officers of the Company. The Committee shall maintain
such procedures and records as will enable the Committee to determine the Participants and their beneficiaries who are entitled to receive benefits under the Plan and the amounts thereof. 

  
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 5.2. General Powers of Administration. The Committee shall have the exclusive right,
power, and authority to interpret, in its sole discretion, any and all of the provisions of the Plan; and to consider and decide conclusively any questions (whether of fact or otherwise) arising in connection with the administration of the Plan or
any claim for benefits arising under the Plan. Any decision or action of the Committee shall be conclusive and binding on the Company and the Participants. The Plan is designed to comply with the applicable requirements of Section 409A of the
Code and the regulations promulgated thereunder, and shall be administered and construed to the maximum extent possible consistent with the requirements of such Section and such regulations. 

ARTICLE VI 

AMENDMENT AND TERMINATION 
 6.1. Amendment of the Plan. The Committee shall have the authority to adopt minor amendments to the Plan without prior approval by the Board that: 

(a) are necessary or advisable for purposes of complying with applicable laws and regulations; 

(b) relate to administrative practices under the Plan (including, but not limited to, the establishment of any procedures
or processes or accounts related to the distribution of Common Stock or other amounts under the Plan); 
 (c)
relate to the selection or deletion of additional notional investment options for Participants in their accounts; or 
 (d) have an insubstantial financial effect on the Plan. 
 The Board shall have the
authority to adopt any other amendments to the Plan not encompassed under the terms of the preceding sentence, except that any amendment to increase the number of shares to be distributed under Article VII shall be approved by the Company’s
shareholders. Any such amendments must be made by written instrument, and notice of such amendments shall be provided as soon as practicable to Participants after their adoption. 

6.2. Limitations on Amendment or Termination of the Plan. The Company reserves the right to amend or terminate the Plan in any
respect and at any time, without the consent of Participants or beneficiaries; provided, however, that the following conditions with respect to such amendment or termination must be satisfied in order for such amendment or termination to be binding
and in effect: 
 (a) Such amendment or termination must be made pursuant to a written resolution of the
Committee which is approved thereafter by the Board; and 
 (b) Such amendment or termination resolution may not
adversely affect the rights of any Participant or beneficiary to receive benefits earned and accrued under the Plan prior to such amendment or termination; provided, however, that the following shall not be deemed to violate this provision:

 (i) any alteration of the notional investment options under the Plan, 

  
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 (ii) any acceleration of payments of amounts accrued under the Plan by
action of the Committee or the Corporate Governance Committee or by operation of the Plan’s terms; or 

(iii) any decision by the Committee or the Corporate Governance Committee to limit participation (or other features of the
Plan) prospectively under the Plan. 
 ARTICLE VII 
 GENERAL PROVISIONS 
 7.1. Common Stock Subject to the Plan.
The number of shares of Common Stock that may be distributed under the Plan in accordance with Article IV shall be 500,000 shares of Common Stock less that number of shares of Common Stock that have previously been issued and/or are issued after the
Effective Date under the Predecessor Plan, which number may be modified by the Corporate Governance Committee for an Adjustment Event. 
 7.2. Participant’s Rights Unsecured and Unfunded. This Plan is an unfunded plan maintained primarily to provide deferred compensation benefits for Non-Employee Directors, and therefore is
exempt from the provisions of Parts 2,3 and 4 of Title I of ERISA. Accordingly, no assets of the Company shall be segregated or earmarked to represent the liability for accrued benefits under the Plan. Amounts referenced in Participant account
statements are only recordkeeping devices reflecting such liability for accrued benefits, and do not reflect any actual amounts credited. The right of a Participant (or his or her Beneficiary) to receive a payment hereunder shall be an unsecured
claim against the general assets of the Company or any successor to the Company. All payments under the Plan shall be made from the general funds of the Company or any successor. The Company is not required to set aside money or any other property
to fund its obligations under the Plan, and all amounts that may be set aside by the Company prior to the distribution of account balances under the terms of the Plan remain the property of the Company (or, if applicable, any successor).
Notwithstanding the foregoing, nothing in this Section 7.2 shall preclude the Company, in its sole discretion, from establishing a “rabbi trust” or other vehicle in connection with the operation of this Plan, provided that no such
action shall cause the Plan to fail to be an unfunded plan designed to provide deferred compensation benefits for Non-Employee Directors within the meaning of Title I of ERISA. 

7.3. No Guarantee of Benefits. Nothing contained in the Plan shall constitute a guaranty by the Company or any other person or
entity that the assets of the Company will be sufficient to pay any benefit hereunder. 
 7.4. No Creation of Employee
Rights; Plan is Not A Contract of Employment. Participation in the Plan shall not be construed to give or deem any Participant to be an employee of the Company. This Plan shall not constitute a contract of employment between the Company and any
Participant. 
 7.5. Non-Alienation Provision. No interest of any person or entity in, or right to receive a benefit or
distribution under, the Plan shall be subject in any manner to sale, transfer, anticipation, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind; nor may such interest or right to receive a distribution be
taken, either voluntarily or involuntarily for the satisfaction of the debts of, or other obligations or claims against, such person or entity, including claims for alimony, support, separate maintenance and claims in bankruptcy proceedings.

  
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 7.6. Applicable Law; Severability. The Plan shall be construed and administered under
the laws of the State of New Jersey, except to the extent that such laws are preempted by ERISA, if applicable. In the event any provision of this Plan shall be determined to be illegal or invalid for any reason, the remaining portion(s) shall
continue in full force and effect as if such illegal or invalid provision had never been included herein. 
 7.7. No Impact
on Other Benefits. Amounts accrued under the Plan shall not be included in a Participant’s compensation for purposes of calculating benefits under any other plan, program or arrangement sponsored by the Company. 

7.8. Data. Each Participant or beneficiary shall furnish the Committee all proofs of dates of birth and death and proofs of
continued existence necessary for the administration of the Plan, and the Company shall not be liable for the fulfillment of any Plan benefits in any way dependent upon such information unless and until the same shall have been received by the
Committee in a form satisfactory to it. 
 7.9. Incapacity of Recipient. If a Participant or other beneficiary entitled
to a distribution under the Plan is living under guardianship or conservatorship, distributions payable under the terms of the Plan to such Participant or beneficiary shall be paid to his or her appointed guardian or conservator and such payment
shall be a complete discharge of any liability of the Company under the Plan. 
 7.10. Usage of Terms and Headings. Words
in the masculine gender shall include the feminine and the singular shall include the plural, and vice versa, unless qualified by the context. Any headings are included for ease of reference only, and are not to be construed to alter the terms of
the Plan. 

  
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