Document:

Exhibit
10.31

 

2002
RESTATEMENT OF AON PENSION PLAN

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  SECTION l

  	
  3

  
	
   

  	
  Name
  and Purpose

  	
  3

  
	
  1.01

  	
    Name

  	
  3

  
	
  1.02

  	
    Purpose

  	
  3

  
	
   

  	
   

  
	
  SECTION 2

  	
  4

  
	
   

  	
  Definitions

  	
  4

  
	
   

  	
   

  
	
  SECTION 3

  	
  14

  
	
   

  	
  Eligibility

  	
  14

  
	
  3.01

  	
    Initial Coverage

  	
  14

  
	
  3.02

  	
    Coverage After December 31, 2001

  	
  14

  
	
  3.03

  	
    Termination of Employment

  	
  14

  
	
  3.04

  	
    Leave of Absence

  	
  15

  
	
  3.05

  	
    Employment in Bargaining Unit

  	
  15

  
	
  3.06

  	
    Employment Outside United States

  	
  16

  
	
  3.07

  	
    Employment as Field Sales Agent or with ASI
  Solutions Incorporated

  	
  17

  
	
  3.08

  	
    Transfer To Member That is Not An Employer

  	
  17

  
	
  3.09

  	
    Alexander & Alexander Employees

  	
  18

  
	
  3.10

  	
    Innovative Services International, L.L.C.,
  Employees

  	
  18

  
	
  3.11

  	
    Strategic Decisions Group (WTR-RICHMOND)
  Employees 

  	
  18

  
	
   

  	
   

  
	
  SECTION 4

  	
  19

  
	
   

  	
  Determination
  of Retirement Benefits

  	
  19

  
	
  4.01

  	
    Normal Retirement Benefit

  	
  19

  
	
  4.02

  	
    Accrued Benefit for Section 401(a)(17)
  Employee

  	
  20

  
	
  4.03

  	
    Minimum Accrued Benefit

  	
  20

  
	
   

  	
   

  
	
  SECTION 5

  	
  22

  
	
   

  	
  Vested
  Interest

  	
  22

  
	
  5.01

  	
    Eligibility for Full Vesting

  	
  22

  
	
  5.02

  	
    Amount of Monthly Benefit

  	
  22

  
	
  5.03

  	
    Special Rules

  	
  22

  
	
  5.04

  	
    Early Commencement Election

  	
  23

  
	
  5.05

  	
    Change in Top-Heavy Status

  	
  25

  
				

 

 

	
  SECTION 6

  	
  26

  
	
   

  	
  Death
  Benefits

  	
  26

  
	
  6.01

  	
    Amount of Death Benefit

  	
  26

  
	
   

  	
   

  
	
  SECTION 7

  	
  27

  
	
   

  	
  Form of
  Payments

  	
  27

  
	
  7.01

  	
    Normal Form of Payment

  	
  27

  
	
  7.02

  	
    Guaranteed Period Annuity

  	
  27

  
	
  7.03

  	
    Payment in Qualified Joint and Survivor
  Form

  	
  27

  
	
  7.04

  	
    Alternate Joint and Survivor Form

  	
  28

  
	
  7.05

  	
    Social Security Adjustment Option

  	
  28

  
	
  7.06

  	
    Election Not to Receive Qualified Joint and
  Survivor Annuity

  	
  28

  
	
  7.07

  	
    Revocation of Election Not To Receive
  Qualified Joint and Survivor Annuity

  	
  28

  
	
  7.08

  	
    Surviving Spouse and Domestic Partner
  Benefit

  	
  29

  
	
  7.09

  	
    Lump Sum Cash Out

  	
  29

  
	
  7.10

  	
    Use of Annuity Policy

  	
  30

  
	
  7.11

  	
    Return to Work

  	
  30

  
	
  7.12

  	
    When Participant Deemed Retired

  	
  32

  
	
  7.13

  	
    General Provisions Governing Distributions

  	
  32

  
	
  7.14

  	
    Spousal Consent

  	
  33

  
	
  7.15

  	
    Notice

  	
  34

  
	
  7.16 

  	
    Joint and Survivor Annuities and Surviving
  Spouse Benefits  to Former Participants 

  	
  34 

  
	
  7.17

  	
    Commencement of Benefits

  	
  35

  
	
   

  	
   

  
	
  SECTION 8

  	
  36

  
	
   

  	
  Plan
  Funding

  	
  36

  
	
  8.01

  	
    Contributions

  	
  36

  
	
  8.02

  	
    Forfeitures

  	
  36

  
	
   

  	
   

  
	
  SECTION 9

  	
  37

  
	
   

  	
  Rights
  to Amend or Discontinue Contributions

  	
  37

  
	
  9.01

  	
    Continuance of Contributions Not Assumed

  	
  37

  
	
  9.02

  	
    Right to Amend

  	
  37

  
	
   

  	
   

  	
   

  
				

 

ii

 

	
  SECTION 10

  	
   

  	
  39

  
	
   

  	
  Duration
  and Distribution on Termination

  	
  39

  
	
  10.01

  	
    Termination by Employer

  	
  39

  
	
  10.02

  	
    Distribution on Complete Termination

  	
  39

  
	
  10.03

  	
    Termination by Pension Benefit Guaranty
  Corporation

  	
  39

  
	
  10.04

  	
    Vesting Upon Termination

  	
  40

  
	
   

  	
   

  
	
  SECTION 11

  	
  41

  
	
   

  	
  Benefits
  in the Event of Early Termination of Plan

  	
  41

  
	
  11.01

  	
    Participants

  	
  41

  
	
  11.02

  	
    Maximum Benefit

  	
  41

  
	
  11.03

  	
    Limitation on Benefits

  	
  42

  
	
  11.04

  	
    Termination of Employment

  	
  42

  
	
  11.05

  	
    Death Benefits

  	
  43

  
	
  11.06

  	
    Retirement Benefits

  	
  43

  
	
  11.07

  	
    Lump Sum Distribution

  	
  43

  
	
  11.08

  	
    Intent

  	
  44

  
	
   

  	
   

  	
   

  
	
  SECTION 12

  	
   

  	
  45

  
	
   

  	
  Administrative
  Committee

  	
  45

  
	
  12.01

  	
    Formation and Members

  	
  45

  
	
  12.02

  	
    Chairman and Secretary

  	
  45

  
	
  12.03

  	
    Actions of the Committee

  	
  45

  
	
  12.04

  	
    Execution of Instruments

  	
  46

  
	
  12.05

  	
    Reports to the Board

  	
  46

  
	
  12.06

  	
    Administration of the Plan

  	
  46

  
	
  12.07

  	
    Liability of Members

  	
  46

  
	
  12.08

  	
    Allocation of Duties

  	
  47

  
	
  12.09

  	
    Investments

  	
  47

  
	
   

  	
   

  
	
  SECTION 13

  	
  48

  
	
   

  	
  ERISA
  Provisions

  	
  48

  
	
  13.01

  	
    Service for Predecessor

  	
  48

  
	
  13.02

  	
    Controlled Group

  	
  48

  
	
  13.03

  	
    Merger

  	
  49

  
	
  13.04

  	
    Claims Procedure

  	
  49

  
	
  13.05

  	
    Maximum Annual Benefit

  	
  50

  
				

 

iii

 

	
  SECTION 14

  	
   

  	
  57

  
	
   

  	
  Miscellaneous
  Provisions

  	
  57

  
	
  14.01

  	
    Spendthrift Clause

  	
  57

  
	
  14.02

  	
    Facility of Payment

  	
  57

  
	
  14.03

  	
    Evidence of Survival

  	
  57

  
	
  14.04

  	
    Discretionary Acts To Be Uniform

  	
  58

  
	
  14.05

  	
    Elections To Be Made On Prescribed Forms

  	
  58

  
	
  14.06

  	
    Reliance On Information Furnished By
  Employer

  	
  58

  
	
  14.07

  	
    Inability to Perform

  	
  58

  
	
  14.08

  	
    Misstatement of Age

  	
  58

  
	
  14.09

  	
    Rights of Individuals

  	
  59

  
	
  14.10

  	
    Actuarial Computations

  	
  59

  
	
  14.11

  	
    Notice of Required Action

  	
  61

  
	
  14.12

  	
    Reliance Upon Communication

  	
  61

  
	
  14.13

  	
    No Reversion To Employers

  	
  61

  
	
  14.14

  	
    Insurer Not Party To Agreement

  	
  62

  
	
  14.15

  	
    Construction

  	
  62

  
	
  14.16

  	
    Section Titles Not Part of
  Agreement

  	
  62

  
	
  14.17

  	
    Gender and Case

  	
  63

  
	
  14.18

  	
    Eligible Rollover Distributions

  	
  63

  
	
  14.19

  	
    Plan Expenses

  	
  64

  
	
  14.20

  	
    Military Service

  	
  64

  
	
   

  	
   

  
	
  SECTION 15

  	
  65

  
	
   

  	
  Adoption
  of Plan by Subsidiary

  	
  65

  
	
  15.01

  	
    Adoption
  of Plan

  	
  65

  
	
  15.02

  	
    Intention of Parties

  	
  65

  
	
  15.03

  	
    Termination By One Employer

  	
  65

  
	
   

  	
   

  	
   

  
	
  SECTION 16

  	
   

  	
  66

  
	
   

  	
  Rights
  of Former Employees

  	
  66

  
	
  16.01

  	
    Rights of Former Employees

  	
  66

  
	
   

  	
   

  	
   

  
	
  SECTION 17

  	
   

  	
  67

  
	
   

  	
  Provisions
  Applicable if Plan Becomes Top-Heavy

  	
  67

  
	
  17.01

  	
    Applicability

  	
  67

  
	
  17.02

  	
    Additional Definitions

  	
  67

  
				

 

iv

 

	
  17.03

  	
    Special Rules

  	
  71

  
	
  17.04

  	
    Vesting With Respect To Participant’s
  Top-Heavy Benefit

  	
  72

  
	
  17.05

  	
    Minimum Benefit For Non-Key Employee

  	
  72

  
	
  17.06

  	
    Maximum Annual Benefit

  	
  72

  
	
  17.07

  	
    Simplified Employee Pensions

  	
  73

  
	
  17.08

  	
    Contributions Or Benefits Not Taken Into
  Account

  	
  73

  
	
  17.09

  	
    Employment in Bargaining Unit

  	
  73

  
	
  17.10

  	
    Commencement of Benefits

  	
  73

  
	
  17.11

  	
    Forfeitures

  	
  73

  
	
   

  	
   

  	
   

  
	
  SECTION 18

  	
   

  	
  74

  
	
   

  	
  Mergers
  and Transitional Rules

  	
  74

  
	
  18.01

  	
    General

  	
  74

  
	
  18.02

  	
    Mergers And Transfers Of Assets And
  Liabilities

  	
  74

  
	
  18.03

  	
    The Retirement Plan For Employees Of The
  Life Insurance Company Of Virginia And 
   Designated Subsidiaries

  	
  75

  
	
  18.04

  	
    Miller, Mason &
  Dickenson, Inc. Pension Plan

  	
  75

  
	
  18.05

  	
    Rollins Burdick Hunter Co. Employees
  Pension Plan

  	
  76

  
	
  18.06

  	
    Booke and Company Pension Plan

  	
  76

  
	
  18.07

  	
    Pension Plan for Employees of
  Alexander & Alexander Services Inc. and Subsidiaries

  	
  78

  
	
  18.08

  	
    Sodarcan and Affiliated Companies Pension
  Plan and Trust

  	
  79

  
	
  18.09

  	
    Bain Hogg Robinson, Inc. Employees’
  Retirement Plan

  	
  82

  
	
  18.10

  	
    ASA Pension Plan

  	
  82

  
	
  18.11

  	
    International Risk Management (Americas)
  Inc. Retirement Plan

  	
  84

  
	
  18.12

  	
    Schirmer Engineering Corporation Pension
  Plan

  	
  85

  
	
   

  	
   

  	
   

  
	
  SECTION 19

  	
   

  	
  87

  
	
   

  	
  Voluntary
  Retirement Program

  	
  87

  
	
  19.01

  	
    Voluntary Retirement Program

  	
  87

  
	
  19.02

  	
    Definitions

  	
  87

  
	
  19.03

  	
    Coverage

  	
  89

  
	
  19.04

  	
    Commencement of Benefits

  	
  89

  
				

 

v

 

	
  SECTION 20

  	
   

  	
  90

  
	
   

  	
  Ad
  Hoc Retiree Benefit Adjustment

  	
  90

  
	
  20.01 

  	
    Retirement Benefit Adjustment

  	
  90

  
	
   

  	
   

  	
   

  
	
  SECTION 21

  	
   

  	
  91

  
	
   

  	
  1996
  Voluntary Retirement Program

  	
  91

  
	
  21.01

  	
    Voluntary Retirement Program

  	
  91

  
	
  21.02

  	
    Definitions

  	
  91

  
	
  21.03

  	
    Voluntary Retirement Program Benefits

  	
  93

  
	
  21.04

  	
    Commencement of Benefits

  	
  93

  
	
  21.05

  	
    Credit for Years of Service for 1996

  	
  94

  
	
   

  	
   

  	
   

  
	
  SECTION 22

  	
   

  	
  95

  
	
   

  	
  1999
  Voluntary Retirement Program

  	
  95

  
	
  22.01

  	
    Voluntary Retirement Program

  	
  95

  
	
  22.02

  	
    Definitions

  	
  95

  
	
  22.03

  	
    Voluntary Retirement Program Benefits

  	
  97

  
	
  22.04

  	
    Commencement of Benefits

  	
  97

  
	
   

  	
   

  	
   

  
	
  SCHEDULE
  A

  	
   

  	
   

  
				

 

vi

 

2002 RESTATEMENT OF
  AON PENSION PLAN

 

WHEREAS, Combined Insurance
Company of America previously entered into an Agreement establishing an
Employees Pension Plan for the benefit of its Staff Employees and the Staff
Employees of its Subsidiaries which adopted the Plan, which Agreement is known
as the Combined Pension Plan and was effective as of January 1, 1973;

 

WHEREAS, Combined Insurance
Company of America made one amendment to said Agreement dated February 24,
1975 and restated said Agreement on December 10, 1976 effective as of January 1,
1976, amended said Restatement once on April 6, 1978 and again restated
said Agreement effective as of January 1, 1978, and made five amendments
to said 1978 Restatement, on December 14, 1979; June 26, 1980; November 8,
1982; January 11, 1983; and June 27, 1983;

 

WHEREAS, Combined
International Corporation, the parent corporation of Combined Insurance Company
of America, adopted this Pension Plan and Trust Agreement for the Staff
Employees of Combined International Corporation and of its various other
subsidiaries, amended and restated said Plan and Trust Agreement, changed the
name of this Plan and Trust Agreement to the Combined International Corporation
Pension Plan, and made Combined International the sponsor of said Plan and
Trust Agreement, in an Instrument dated July 1, 1984, which has been
amended six times since such last 1984 Restatement thereof, on November 16,
1984; again on November 16, 1984; again on November 16, 1984; November 15,
1985; March 20, 1987; and November 20, 1987;

 

WHEREAS, pursuant to the
Sixth Amendment the name of the Plan was changed to the AON PENSION PLAN;

 

WHEREAS, the Plan was
amended by a 1987 Restatement thereof on November 20, 1987;

 

WHEREAS, Plan was amended by
a 1989 Restatement thereof on July 22, 1988, which 1989 Restatement was
further amended on November 20, 1992, July 16, 1993, October 18,
1993; and

 

WHEREAS, the Plan was
further amended and restated effective January 1, 1994 (the “1994
Restatement”) and signed on December 19, 1994, and has since been amended
several times;

 

WHEREAS, Aon Corporation (“Aon”) now wishes to amend
and again restate said Plan for the purpose of making the “GUST” and “EGTRRA”
amendments and

 

 

other changes in the law and to make certain other desirable changes
therein effective January 1, 2002 (the “2002 Restatement”);

 

WHEREAS, Aon Corporation has
reserved the right to amend said Plan and Trust Agreement pursuant to the terms
of Section 9.02 thereof;

 

NOW, THEREFORE, pursuant to a resolution adopted by
the Board of Aon Corporation the Plan shall be and hereby is further amended
and restated effective as of January 1, 2002, unless otherwise stated
herein, as follows:

 

2

 

SECTION 1

 

Name and Purpose

 

1.01   Name

 

This Plan shall be known as
the Aon Pension Plan.

 

1.02   Purpose

 

It is the purpose of this
Plan to provide a retirement income to supplement benefits payable under the
Federal Social Security Program for such eligible Employees who shall qualify
as Participants.

 

3

 

SECTION 2

 

Definitions

 

Unless the context shall otherwise clearly indicate,
the following terms shall  be construed as hereafter defined:

 

2.01                         “Accrued Retirement Income” shall mean the monthly amount
determined in accordance with Section 4.01 of the Plan, but based on Years
of Service and Final Average Earnings as of any date before the Participant’s
Normal Retirement Date; provided,  however, that the Accrued
Retirement Income of a Participant shall not be less than the Minimum Accrued
Benefit determined in accordance with Section 4.03.

 

2.02                         “Annual Earnings”

 

(a)                                  Annual Earnings
with respect to calendar years prior to 1993 shall mean the regular salary of
an Employee excluding any bonuses or extra remuneration, but determined before
excluding any reduction described in Sections 3.03 and 3.04 of the Aon Savings
Plan, or before excluding any reduction for cafeteria plans under Section 125
of the IRC, paid to him by the Employer during any calendar year for his
services to the Employer in the capacity of a staff Employee. Such Annual
Earnings shall also include, for representatives of the Life Insurance Company
of Virginia only, financing/subsidy payments, first year commissions, renewal
commissions, first year overrides, renewal overrides, personal service fees,
managerial service fees, and validation bonuses.

 

(b)                             Annual Earnings
with respect to calendar years after 1992 shall mean the following types of
earnings paid to an Employee for his service on behalf of the Employer
determined before excluding any reduction described in Sections 3.03 and 3.04
of the Aon Savings Plan, before excluding any reduction for cafeteria plans
under Section 125 of the IRC, and for calendar years after 2000, any
reduction for transportation benefits under Section 132 of the IRC:

 

(i)                                  salary and
fixed base compensation including compensation for overtime;

 

4

 

(ii)                                  bonuses paid
pursuant to periodic individual performance appraisals and formal contractual
bonus programs, but excluding other bonus and miscellaneous income;

 

(iii)                               net commission,
renewal and override compensation (but excluding deferred commission payments).

 

Annual Earnings shall not include remuneration reported to the Internal
Revenue Service on Form 1099 or amounts deferred under a nonqualified
deferred compensation Plan.

 

For Participants who died as the result of the attacks on the World
Trade Center on September 11, 2001, the term “Annual Earnings” shall also
include any compensation paid with respect to such Participants from September 11,
2001 through October 26, 2001, including any vacation pay.

 

In no plan year shall a Participant’s Annual Earnings exceed the amount
permitted pursuant to Section 401(a) (17) of the IRC (as indexed).

 

2.03                  “Annuity
Starting Date” shall mean the first day of the first period for
which the Participant or Beneficiary receives an annuity.

 

2.04                  “Authorized
Leave of Absence” means any absence authorized by the Employer
because of illness, military service, or for any other reason. Authorized
Leaves of Absence shall be granted on a uniform and non-discriminatory basis.

 

2.05                  “Board”
shall mean the present and any succeeding Board of Directors of the Company or
any committee of the Board of Directors delegated authority to act for the
whole Board in respect of matters relating to the Plan.

 

2.06                  “Committee”
shall mean the administrative committee designated by the Board in accordance
with Section 12. The Committee is designated as the administrator, plan
administrator, and named fiduciary with respect to the administration of the
Plan (but not with respect to the control, management and investment of the
assets of the Trust) for the purposes of ERISA.

 

2.07                  “Company”
shall mean Aon Corporation and any successor.

 

2.08                  “Effective
Date” shall mean January 1, 1973, but shall refer to January 1,
2002 when applied to 2002 restatement of this Plan.

 

5

 

2.09                 “Employee” shall
refer to an individual considered by the Companies or Affiliates to be a common
law employee, as evidenced by the Companies’ or Affiliates’ withholding of
taxes from pay. An individual who renders services to a Company or Affiliate
and is considered by the Company or an Affiliate to be an independent
contractor, or who is the employee of a company providing services to the
Companies or Affiliates, is not an Employee regardless of the fact that such
individual may later be retroactively reclassified under federal law as a
common law employee. Individuals who are included in a unit of employees
covered by a collective bargaining agreement between employee representatives
and one or more employers, if retirement benefits were the subject of good faith
bargaining between such employee representatives and such employer or
employers, are not Employees.

 

Any person who is a Field Sales Agent is not an
Employee.

 

2.10                 “Employer”,
effective for plan years beginning on and after January 1, 2001, shall
mean the Company and such of its subsidiaries as have adopted or shall adopt
this Plan for the benefit of its Employees. The term “Employers” as used herein
shall refer collectively to all of the Employers that have adopted this Plan at
any particular time and shall be applied as though all of such Employers
constituted a single employer. If any Employer makes an acquisition and there
are new Employees of such Employer, the Committee shall determine (in carrying
out the terms of the applicable acquisition agreement) if and when the new
Employees shall become eligible to participate hereunder, and if and when these
employees are given credit for Years of Service for vesting or benefit accrual
purposes for any time before participation in the Plan commences.

 

2.11                 “Employment”
shall mean service of an Employee with the Employers.

 

2.12                 “ERISA” refers
to the Employee Retirement Income Security Act of 1974, as from time to time
amended.

 

2.13                 “Field Sales Agent”
shall refer to a commissioned employee who represents Combined Insurance
Company of America (or any Subsidiary thereof) as an insurance salesperson and
who is under an employment contract with the Company denominating such employee
as a representative, sales manager, territory manager, district manager, state
manager or other comparable title.

 

2.14                 “Final Average Earnings”
shall mean the average of a Participant’s Annual Earnings paid to him by the
Employers for service during the highest five consecutive calendar years of the
last ten calendar years of Employment immediately preceding his retirement date
or his Termination Date; provided, however, that if he was

 

6

 

not
an Employee during any five consecutive calendar years during such period, his
Final Average Earnings shall be the average of his Annual Earnings during the
five calendar years (or lesser period if he was not an Employee for such five
calendar years) immediately preceding the calendar year he was last an
Employee.

 

“Final
Average Earnings A” shall be an amount determined in the same manner as Final
Average Earnings, except that Annual Earnings during a Participant’s highest
five consecutive calendar years, whether before 1993 or after 1992, shall be
computed solely on the basis of Section 2.02(a) without reference to Section 2.02(b).

 

2.15         “Highly Compensated
Employee” includes highly compensated active employees and highly
compensated former employees. Effective for Plan Years beginning January 1,
1997, “Highly Compensated Employee” means any employee who was a 5- percent
owner (as defined in Code Section 416(i)) at any time during the current
year or the preceding year, or, for the preceding year had Compensation in
excess of $80,000 and, if the Company so elects in accordance with Code Section 414(q),
was in the top-paid group for the preceding year. The $80,000 amount shall be
adjusted at the same time and in the same manner as under section 415(d), except
that the base period is the calendar quarter ending September 30, 1996. In
addition, the following shall apply:

 

(a)                                  A highly
compensated former employee includes any employee who separated from service
prior to the determination year, performs no service for the employer during
the determination year, and was a highly compensated active employee for either
the separation year or any determination year ending on or after the employee’s
55th birthday.

 

(b)                                 An employee is
in the top-paid group if he or she is in the top 20% of all Employees, ranked
by Compensation, in descending order.

 

(c)                                  For purposes of
this definition, Compensation for Plan Years beginning after 1997 means
compensation as defined in Code Section  415(c)(3).

 

(d)                                 The top-paid
group election described above, if made, shall apply consistently to the
determination years of all plans of the employer, except that the consistency
requirement will not apply to determination years beginning with or within the
1997 calendar year, and for determination years beginning on or after January 1,
1998, and before January 1, 2000. Satisfaction of the consistency

 

7

 

requirement is determined without regard to
any nonretirement plans of the employer.

 

(e)                                  For purposes of
this Section, employees who are nonresident aliens and who receive no earned
income (within the meaning of Section 911(d)(2) of the IRC ) from the
Company which constitutes income from sources within the United States shall
not be treated as employees.

 

2.16         “Hours of Service”
in respect to an Employee shall refer to the hours for which the Employee is
directly or indirectly paid, or entitled to payment, for the performance of
duties or for a period of time during which no duties are performed during the
applicable computation period and such hours shall include any hours for which
back pay, irrespective of mitigation of damages, has either been awarded or
agreed to; provided, however, no more than 501 Hours of Service shall be
credited to an Employee on account of any single continuous period
(irrespective of whether such period occurs in a single computation period, and
irrespective of whether the employment relationship has terminated) during
which the Employee performs no duties. Hours shall not be credited for payments
made or due under a Plan maintained solely for the purpose of complying with
applicable workman’s compensation, unemployment compensation or disability
insurance laws, or for a payment which solely reimburses an Employee for
medical or medically related expenses incurred by such Employee. In those
instances where payroll or other Company records do not reflect the actual
number of hours worked by an Employee, such Employee shall be credited with 45
Hours of Service for each calendar week that he would be required to be
credited with at least one Hour of Service under the preceding portion of this
Section. This Section shall be applied, in respect to payments,for reasons
other than the performance of duties and in respect to crediting of Hours of
Service to a Particular computation period, in accordance with the rules set
forth in Labor Department Regulations Section 2530.200(b)-2(b) and
(c), which are incorporated herein by reference.

 

2.17         “IRC” shall
refer to the Internal Revenue Code of 1986, as from time to time amended.

 

2.18         “Leased Employee”
shall refer to an individual, other than an employee of the Employer or an
affiliated employer (the “recipient employer”), who, pursuant to an agreement
between the recipient employer and any other person (the “leasing organization”)
has performed services for the recipient employer (or the recipient employer
and related persons determined in accordance with Section 414(n) of
the IRC) on a substantially full-time basis for a period of at least one year,
and such services are

 

8

 

performed
under primary direction or control by the recipient. Contributions or benefits
provided a leased employee by the leasing organization which are attributable
to services performed for the recipient employer shall be treated as provided
by the recipient employer. A leased employee shall not be considered an
employee of the recipient employer if:

 

(a)                                  such individual
is covered by a money purchase pension plan providing:

 

(i)                                     a nonintegrated employer
contribution rate of at least ten percent of compensation, but including
amounts contributed pursuant to a salary reduction agreement which are
exciudible from the employee’s gross income under Section 125, 402(e)(3),
402(h), or 403(b) of the Code,

 

(ii)                                  immediate participation, and

 

(iii)                               full and immediate vesting;
and

 

(b)                                 leased
employees do not constitute more than 20% of the recipient employer’s
non-highly compensated work force, as defined in Section 414(n)(5)(C)(ii) of
the Code.

 

2.19         “Maximum Offset Allowance”
shall mean the maximum offset allowance for a Participant under Section 401(1) of
the IRC pursuant to regulations and rulings of the Secretary of the Treasury or
his delegate. The Maximum Offset Allowance shall be calculated based upon
one-half of one percent (.5%) of the Participant’s Final Average Compensation
multiplied by his Years of Service, up to but not in excess of 35 Years of
Service, figuring “Final Average Compensation” so as not to exceed “Covered
Compensation” based upon the definitions and rules under Section 1.401(1)-1(c)(7) of
Treasury Regulations; provided, however, that Covered
Compensation shall be the average of the Taxable Wage Bases (as defined
pursuant to Section 3121(a)(1) of the IRC) for the 35 calendar years
ending with the last day of the year in which a Participant attains Social
Security Retirement Age (as defined at Section 13.05(n)), and assuming for
any particular Plan Year that the Taxable Wage Base on January 1st will remain
the same for all future years.

 

2.20         “Normal Retirement Benefit”
shall mean the monthly income for life of a Retired Participant pursuant to Section 4.01.

 

9

 

2.21         “Normal Retirement Date”
shall mean a Participant’s sixty-fifth (65th) birthday.

 

2.22         “Participant” shall mean
any Employee who is or becomes eligible to participate in the Plan pursuant to Section 3,
but shall also mean a Retired or Terminated Participant, where the context so
requires.

 

2.23         “Plan” shall mean the Aon
Pension Plan as from time to time amended or restated.

 

2.24         “Plan Year” shall mean
the annual accounting period of the Plan which shall be a 12-month period
ending on December 31st of each year.

 

2.25         “Retired Participant”
shall mean a person who was a Participant but who has become entitled to
retirement benefits under Section 4 of this Plan.

 

2.26         “Retirement Fund” shall mean
all assets held by the Trustee for the  purpose of providing the benefits described
in this Plan.

 

2.27         “Terminated Participant”
shall mean a person who was a Participant but whose
employment terminated and who is not eligible for Normal Retirement Benefits
under Section 4 of this Plan, although he may be eligible or become
eligible for payment of a vested retirement benefit under Section 5.

 

2.28         “Termination Date”
shall mean the date on which a Participant ceases to be an
Employee for reasons other than death or retirement on or after his Normal Retirement
Date.

 

2.29         “Trust Agreement”
or “Trust” shall refer
to   trust under the Aon Pension Plan, as
from time to time amended, as set forth in an agreement between the Company and
the trustees dated December 18, 1995.

 

2.30         “Trustee(s)”
shall mean the person, persons, corporation, association, or a
combination of them, or their successors, who shall accept the appointment of
the Board to execute the duties of Trustee under the Trust Agreement. The
Trustee is designated as the named fiduciary with respect to the control,
management and investment of the assets of the Trust for the purposes of ERISA.

 

2.31         “Years of Service”
shall, except as hereinafter provided, refer to a
12-month period during which an Employee has not less than 1,000 Hours of
Service in the employment of the Employers. For purposes of eligibility under Section 3,
computation of any 12-month period shall be made with references to the date on
which the Employee’s

 

10

 

employment commenced and
each anniversary of such date. For all other purposes, it shall coincide with
the Plan Year. Notwithstanding the foregoing, the following special rales shall
be applied for the purpose of determining an Employee’s or a Participant’s
Years of Service:

 

(a)                                  In the case of
an Employee who was a Participant in the Combined Pension Plan on December 31,
1975, service prior to January 1, 1976, that was not a part of a period of
Continuous Service as of December 31, 1975, (as defined by the Combined
Pension Plan prior to January 1, 1976) shall not be counted, but service
that was Continuous Service as of December 31, 1975, shall be counted and
a fractional year of such service in excess of 6 months shall be counted as a
full Year of Service.

 

(b)                                 In the case of
an Employee whose employment was terminated before he acquired any vested
interest who again becomes a Participant by reason of reemployment after a
1-Year Break in Service, Years of Service prior to such break in service shall
not be taken into account if the number of consecutive 1-Year Breaks in Service
equals or exceeds the greater of (a) the aggregate number of such Years of
Service before the break in service; or (b) five. Such aggregate number of
Years of Service before such break shall not include any Years of Service not
taken into account by reason of any prior break in service.

 

(c)                                  In the event of
employment in a bargaining unit described in Section 3.02(d), the rules set
forth in Section 3.05 shall apply.

 

(d)                                 In the event of
employment outside the United States or its possessions, the rules set
forth in Section 3.06 shall apply.

 

(e)                                  In the event of
employment as a Field Sales Agent the rules set forth in Section 3.07
shall apply.

 

(f)                                    Solely for the
purpose of determining a Participant’s vested or nonforfeitable interest in his
Accrued Retirement Income, an Employee shall be deemed to have earned a Year of
Service for each calendar year prior to the date he became an Employee during
all of which he rendered services to the Employers as an insurance agent in the
Superior Policy Division in a capacity other than that of an Employee

 

11

 

(i.e.
an independent contractor) and was compensated with respect to such service on
a commission basis.

 

(g)                                 In the case of
an Employee ineligible for participation prior to January 1, 1988, because
his employment began on or after age 60, such Employee’s service prior to January 1,
1988, shall be taken into account.

 

(h)                                 An Employee
shall not be considered to be in the employment of an Employer upon the
occurrence of any of the following, notwithstanding the fact that the Employee
is employed by a Subsequent Employer: (a) sale or other transfer to a
Subsequent Employer of all or substantially all of the assets used in a trade
or business of the Employee’s Employer; and (b) liquidation, sale or other
event involving the Employee’s Employer that terminates the parent-subsidiary
or controlled group relationship with the Company or causes the Employer not to
be considered a single employer with the Company under Code Section 414(b).
For purposes of this subsection (h), a Subsequent Employer shall be an employer
that neither maintains this Plan nor is in a subsidiary, controlled group or
single-employer relationship with the Company.

 

2.32         “1-Year Break in Service”
shall refer to a 12-month consecutive period during which an Employee has not
completed more than 500 Hours of Service. For purposes of eligibility under Section 3,
computation of such 12-month period shall be made with reference to the
Employee’s employment commencement date (or, where appropriate, reemployment
commencement date) and each anniversary of such date. For all other purposes,
it shall coincide with the Plan Year. For purposes of this Section only,
Hours of Service shall include up to 501 Hours of Maternity or Paternity Leave,
to be treated as Hours of Service in the applicable computation year in which
such absence from work begins if the Employee would be prevented from incurring
a Break in Service in such computation year solely because periods of absence
are treated as Hours of Service as provided under this clause, and in any other
case in the immediately following applicable computation year; provided,
however, that such hours shall be figured based upon the Hours of,
Service which otherwise would normally have been credited to the Participant
but for such absence and eight Hours of Service per day shall be credited in
any case where such normal crediting of Hours of Service cannot be calculated.
The Trustees may require the Participant to furnish such timely information as
may reasonably be required so as to establish that the absence from work is for
Maternity or Paternity Leave and to establish the number of days for which
there is such an absence.

 

12

 

“Maternity
or Paternity Leave” shall mean an absence from work by reason of pregnancy of
the Participant, by reason of the birth of a child of the Participant, by
reason of placement of a child with the Participant in connection with its
adoption by him or her, or for purposes of caring for such child for a period
beginning immediately following such birth or placement.

 

13

 

SECTION 3

 

Eligibility

 

3.01        Initial Coverage

 

Each Employee who was a Participant hereunder on December 31,
2001, shall continue his status as a Participant hereunder.

 

3.02        Coverage After December 31, 2001

 

Each present or future Employee who is not eligible to participate
pursuant to the Provisions of Section 3.01 hereof shall be eligible for participation
hereunder as of the first day and the first Plan Year beginning after December 31,
2001, that he shall have met the following requirements:

 

(a)                                  He must
complete one Year of Service prior to the first day of July of such Plan
Year; and

 

(b)                                 He must attain
his 21st birthday prior to the first day of July of
such Plan Year; and

 

(c)                                  He must be
employed within the United States or its possessions
on a permanent basis as determined under Section 3.06; and

 

(d)                                 He must not be
(unless otherwise expressly provided by the bargaining agreement) included in a
unit of employees covered by a collective bargaining agreement between employee
representatives and one or more employers where retirement benefits were the
subject of good faith bargaining between such employee representatives and such
employer or employers.

 

3.03        Termination of Employment

 

Any
Participant whose employment with the Employers is terminated for any reason
whatsoever, shall cease to be eligible to participate hereunder.  Any Participant whose employment with the
Employers is terminated shall, in the event of his later reemployment as an
Employee, again become a Participant on the first day of his reemployment,
provided he meets the requirements of Section 3.02(c) and (d), unless
his prior service is not taken into account under the rule set forth in Section 2.31(b).

 

14

 

3.04        Leave of Absence

 

An
Employee who receives an Authorized Leave of Absence shall continue to be
regarded as an Employee during such leave of absence; however, he shall not
earn Hours of Service during a period of unpaid Authorized Leave of Absence
except to the extent that may be required under Section 14.20 relating to
military leaves of absence or under Section 2.32 relating to Maternity or
Paternity Leave. The Employers shall provide the Committee with all information
with reference to leaves of absence.  The
determination made by or caused to be made by the Employers shall be conclusive
and binding upon all persons having any interest in the Trust.

 

3.05        Employment in
Bargaining Unit

 

In
the event an Employee is transferred to a bargaining unit described in Section 3.02(d) the
following rules shall apply:

 

(a)                                  He shall not
accrue any retirement benefits hereunder while employed in such bargaining
unit.

 

(b)                                 Compensation paid to him
for service in such bargaining unit shall be disregarded in determining his
Final Average Earnings.

 

(c)                                  His Years of
Service in such bargaining unit shall be counted for the purpose of determining
his vested or non-forfeitable interest in his Accrued Retirement Income in the
event his employment terminates prior to his Normal Retirement Date.

 

(d)                                 His service in
such bargaining unit shall in no event be considered for the purpose of
determining his Normal Retirement Benefit under Section 4.01
or his Accrued Retirement Income, it being the express intent hereof that his
service in such bargaining unit shall be counted for the purpose of determining
his non-forfeitable percentage but not for the purpose of increasing the amount
of benefits to which such percentage shall apply.

 

(e)                                  An Employee who becomes
employed in a bargaining unit because of the recognition of a representative
for such unit shall be deemed to be transferred to such unit.

 

15

 

3.06        Employment Outside United States

 

In
the event an Employee is or was transferred to or from the United States the
following rules shall apply:

 

(a)                                  Except as
provided under (e) of this Section, he shall not accrue any retirement
benefits hereunder while employed outside the United States.

 

(b)                                 Except as
provided under (e) of this Section, compensation paid to him for service
outside the United States shall be disregarded in determining his Final Average
Earnings.

 

(c)                                  His Years of
Service outside the United States shall be counted for the purpose of
determining his vested or non-forfeitable interest in his Accrued Retirement
Income in the event his employment terminated prior to his Normal Retirement
Date.

 

(d)                                 Except as
provided under (e) of this Section, his service outside the United States
shall in no event be considered for the purpose of determining his Normal
Retirement Benefit under Section 4.01 or his Accrued Retirement Income, it
being the express intent hereof that his service outside the United States
shall be counted for the purpose of determining his eligibility to participate
hereunder and his nonforfeitable percentage but not for the purpose of
increasing the amount of benefits to which such percentage shall apply.

 

(e)                                  If he is
transferred from the United States on a temporary basis, he shall be deemed to
continue as being employed within the United States on a permanent basis until
such time as his transfer becomes permanent.

 

(f)                                    The determination
of when an Employee is employed within the United States on a permanent basis,
when a transfer from the United States is or become permanent, and when a
transfer to or from the United States is temporary, shall be made by the
Employer and such determination shall be conclusive and binding on all persons
having any interest in the Trust.

 

(g)                                 As used in this
Section the term “United States” includes possessions  of the United States.

 

16

 

3.07        Employment as Field Sales Agent or with
ASI Solutions Incorporated

 

In
the event an Employee was employed or becomes employed as a Field Sales Agent
or with ASI Solutions Incorporated (excluding such employment that is with
McLagan Partners Incorporated), the following rules shall apply:

 

(a)                                  He shall not
accrue any retirement benefit hereunder while employed as a Field Sales Agent
or with ASI Solutions Incorporated.

 

(b)                                 Compensation
paid to him for services a Field Sales Agent or with ASI Solutions Incorporated
shall be disregarded in determining his Final Average Earnings.

 

(c)                                  His Years of
Service as a Field Sales Agent or with ASI Solutions Incorporated shall be
counted for the purpose of determining his vested or non-forfeitable interest
in his Accrued Retirement Income in the event his employment terminates prior
to his Normal Retirement Date.

 

(d)                                 His service as
a Field Sales Agent or with ASI Solutions Incorporated shall in no event be
considered for the purpose of determining his Normal Retirement Benefit under Section 4.01
or his Accrued Retirement Income, it being the express intent hereof that his
service as a Field Sales Agent or with ASI Solutions Incorporated shall be
counted for the purpose of determining his eligibility to participate hereunder
and his non-forfeitable percentage but not for the purpose of increasing the
amount of benefits to which such percentage shall apply.

 

3.08        Transfer To Member That is Not An
Employer

 

If
an Employee is or was transferred to a member of the Aon group that is not an
Employer hereunder, he shall continue to be treated as being employed by member
of the Aon group that has adopted this Plan in the same manner as though such
transfer had not been made and for the purpose of determining his Normal
Retirement Benefit the member of the Aon group to which he transferred shall be
deemed to be an Employer and have adopted this Plan. This Section shall
not apply to an Employee whose employment with a member of the Aon group is
terminated and who subsequently is reemployed by a non-adopting member of the
Aon group.

 

17

 

3.09        Alexander & Alexander Employees

 

Any
individual who is employed by Alexander & Alexander Services Inc. or
any of its subsidiaries on January 15, 1997, and who terminates employment
after that date, shall participate in this Plan upon satisfaction of the
eligibility and participation requirements of this Plan.

 

3.10        Innovative Services International, L.L.C.,
Employees

 

Effective
January 1, 1999, any individual who is employed by Innovative Services
International, L.L.C., or any of its subsidiaries, shall participate in this
Plan, upon satisfaction of the requirements of Section 3 (“Eligibility”).
No credit for service for  benefit accrual shall be given for service before January 1, 1999.

 

3.11        Strategic Decisions Group (WTR-RICHMOND)
Employees

 

Any
individual who is employed by Strategic Decisions Group or any of its
subsidiaries on June 12, 1999 and is an employee of Aon or any of its
subsidiaries on December 31, 1999 shall receive credit for a Year of
Service for benefit accrual for the plan year ending December 31, 1999.

 

18

 

SECTION 4

 

Determination of Retirement Benefits

 

4.01                        Normal Retirement Benefit

 

Each
participant who is employed in the service of the Employer on his Normal
Retirement Date and who retires on or after his Normal Retirement Date shall be
entitled to receive a monthly Normal Retirement Benefit beginning on the first
day of the month following his actual retirement and continuing for his life,
equal to one-twelfth of the sum of (a) through (d):

 

(a)                                  1.15% of the Participant’s Final Average
Earnings multiplied by his or her Years of Service on and after January 1,
1998.

 

(b)                                 .45% of the Participant’s Final Average
Earnings in excess of Covered Compensation (as defined in section 2.19) multiplied
by the lesser of: (i) his or her Years of Service on and after January 1,
1998; or (ii) 35 years, less Years of Service as of December 31,
1997.

 

(c)                                  the accrued retirement income of a
Participant as of December 31, 1997, under the terms of the Aon Pension
Plan.

 

(i)                                     in the case of Participant who is employed by
an Employer on December 31, 1997, and is accruing a benefit under the Aon
Pension Plan on that date, the amount described in (c) shall be multiplied
by the greater of: (A) 1; or (B) a fraction, the numerator of which
is Final Average Earnings at date of termination of employment and the
denominator of which is Final Average Earnings at December 31, 1997.

 

(d)                                 the accrued retirement income of a
Participant as of December 31, 1997, under the terms of the Pension Plan
for Employees of Alexander & Alexander Services Inc. and Subsidiaries
(“The A&A Plan”).

 

(i)                                     in the case of Participant who is employed by
an Employer on December 31, 1997, and is accruing a benefit under the
A&A Plan on that date, the amount described in (d) shall be multiplied
by the greater of: (A) 1; or (B) a fraction, the numerator of which
is Final Average Earnings (as defined

 

19

 

under
the Aon Pension Plan) at date of termination of employment and the denominator
of which is Final Average Earnings (as defined under the Aon Pension Plan) at December 31,
1997.

 

4.02                      Accrued Benefit for Section 401(a)(17) Employee

 

Notwithstanding
any other provision in the Plan, each section 401(a)(17) employee’s accrued
benefit under this Plan will be the sum of:

 

(a)                                  the Employee’s accrued benefit as of the last
day of the last plan year beginning before January 1, 1994, frozen in
accordance with section 1.401(a)(4)-13 of the regulations, and

 

(b)                                 the Employee’s accrued benefit determined
under the benefit formula applicable for the Plan Year beginning on or after January 1,
1994, as applied to the Employee’s Years of Service credited to the Employee
for Plan Years beginning on or after January 1, 1994, for purposes of
benefit accruals.

 

A
section 401(a)(17) employee means an employee whose current accrued benefit as
of a date on or after the first day of the first Plan Year beginning on or
after January 1, 1994, is based on Compensation for a year beginning prior
to the first day of the first Plan Year beginning on or after January 1,
1994, that exceeded $150,000.

 

4.03                      Minimum Accrued Benefit

 

Notwithstanding
any other provision of this Plan, the Normal Retirement Benefit payable with
respect to any Participant shall not be less than (a), (b), or (c), whichever
is applicable:

 

(a)                                  the Accrued Retirement Income of the
Participant under this Plan as of December 31, 1997;

 

(b)                                 for Participants who were participants in the
A&A Plan (“A&A Participants”) and who die or terminate employment after
December 31, 1997: normal retirement income, early retirement income, or death
benefits as applicable and as determined under Articles VI and X of the 1994
restatement of the A&A Plan as if those provisions remained in effect until
January 14, 2000.

 

20

 

(c)                                  for A&A Participants who die or terminate
employment before January 1, 1998: 
annual retirement income as determined under Section 1(a) of Article VII
of the A&A Plan, as of December 31, 1997.

 

21

 

SECTION 5

 

Vested Interest

 

5.01                      Eligibility for Full Vesting

 

A
Terminated Participant who has completed the required number of Years of
Service and whose employment is terminated (for any reason other than death)
prior to his Normal Retirement Date, shall be entitled to receive a monthly
vested retirement benefit commencing with the first day of the month next
following his Normal Retirement Date, if he is then living.

 

5.02                      Amount of Monthly Benefit

 

The
amount of monthly vested retirement benefit which shall be paid to a Terminated
Participant with one or more Hours of Service on or after January 1, 1989,
and eligible therefor pursuant
to Section 5.01 shall be a percentage of his Accrued Retirement Income
equal to the percentage determined under the following table:

 

	
  Full Years of Service

  	
   

  	
  Non-forfeitable Percentage

  
	
  Less than 5

  	
   

  	
  0 %

  
	
  5 or more

  	
   

  	
  100 %

  

 

5.03                      Special Rules

 

In determining a Participant’s vested benefit under this Section, the
following rules shall apply:

 

(a)                                  The Accrued Retirement Income and the vested
retirement benefit of a Participant shall not be less than his benefit as of December 31,
1988.

 

(b)                                 Except as provided in Section 7.11, in
the event a Terminated Participant again becomes a Participant his Accrued
Retirement Income shall be determined as of the date his employment last
terminated but shall in no event be less than his Accrued Retirement Income at
the time of any prior termination of employment.

 

(c)                                  For a Participant formerly in the LOV Pension
Plan (as discussed at Section 18.03 and not under the career average
formula therein), such benefit as described at Section III B.I. thereof
but counting credited

 

22

 

Service
only through December 31, 1988 shall be (a) 1.5% times final average
compensation times years of credited service up to 25 years, less (but not
below zero) (b) 2% times his primary social security benefit at age 65
times years of credited service up to 25 years, plus (c).5% times final average
compensation times total years of credited service.

 

(d)                                 For a Participant previously in the MMD
Pension Plan (as discussed at Section 18.04), such benefit as described at
Section 4.1 thereof but counting credited service only through December 31,
1988, shall be (a) 1.6% times average monthly compensation times years of
credited service up to 25 years plus .5% times average monthly compensation times
total years of credited service in excess of 25 years; less (b) 2.5% times his
primary social security benefit at age 65 times years of credited service up to
25 years; (c) prior to Normal Retirement Date the accrued benefit of a
participant shall be calculated by assuming credited service to Normal
Retirement Date and then multiplying the excess of (a) over (b) by a
fraction the numerator of which is the Participant’s actual years of credited
service on December 31, 1988 and the denominator of which is the number of
years of credited service he would have accrued if his employment had continued
uninterrupted to his Normal Retirement Date; (d) provided, however,
that a Participant’s accrued benefit shall be offset by the amount set
forth in Appendix A to the Pension Plan, i.e., the actuarial equivalent of his June 30,
1982, account balance in the MMD Money Purchase Pension Plan, but said offset
shall not exceed the Participant’s accrued benefit figured as set forth at (c) but
reduced by substituting “May 1, 1982” for “December 31, 1988”.

 

(e)                                  Participants who are listed on Schedule 6(a) (“RDG
Participants”) of the Asset Purchase Agreement between Aon Corporation and Resource
Financial Corporation (attached as Exhibit A), shall be 100% vested on the
date of the sale and purchase of the common stock of Ryan Dealer Group, Inc.

 

5.04                        Early Commencement Election

 

A
Terminated Participant whose employment is terminated prior to his Normal
Retirement Date may elect to have his deferred vested retirement benefit
commence on the first day of any month after his 55th birthday, in which case
he will be

 

23

 

entitled to a vested
retirement benefit computed under Section 5.02 but reduced as follows, if
at all, for each year payable prior to the first day of the month next
following his Normal Retirement Date to reflect the early commencement of such
benefits:

 

(a)                                  For a vested retirement benefit commencing on
or after the first day of the month next following his Normal Retirement Date,
there shall be no reduction in the Terminated Participant’s vested retirement benefit.

 

(b)                                 For a vested retirement benefit commencing on
or after the first day of the month next following his sixtieth (60th) birthday
but prior to the date sixty (60) months thereafter, there shall be a reduction
in the Terminated Participant’s vested retirement benefit of four percent (4%)
for each year or portion thereof payable prior to the first day of the month
next following his Normal Retirement Date.

 

(c)                                  For a vested retirement benefit commencing on
or after the first day of the month next following his fifty-fifth (55th)
birthday but prior to the date sixty (60) months thereafter, there shall be an
additional reduction in the Terminated Participant’s vested retirement benefit
of six percent (6%) for each year or portion thereof payable prior to the first
day of the month next following his sixtieth birthday.

 

(d)                                 Any early vested retirement benefit for a
Participant as figured above shall not be less than the sum of the following
two amounts: (i) his vested retirement benefit as of December 31,
1988, reduced under the prior reduction formula in effect on such date, plus (ii) his
vested retirement benefit calculated under Section 5.01 for service after December 31,
1988 (but taking all service into account in figuring the 35-year cap under
Sections 2.19 and 4.01(c)) reduced under the current formula set forth above.

 

(e)                                  Termination of employment shall occur upon
the voluntary or involuntary severance of employment with an Employer (except
by reason of death, retirement at Normal Retirement Date or leave of absence).  Termination of employment shall also occur
when an employee ceases to be an employee of an Employer as a result of any of
the following events, notwithstanding the fact that the Employee is employed by
a Subsequent Employer: (a) sale or other transfer to a Subsequent Employer
of all or substantially all of the assets used in a trade or business of an
Employer; and (b) liquidation, sale or other

 

24

 

event
involving an employer that terminates the parent-subsidiary or controlled group
relationship with the Company or causes the Employer not to be considered a
single employer with the Company under Code Section 414(b). For purposes
of this Section 5.04, a Subsequent Employer shall be an employer that
neither maintains this Plan nor is in a subsidiary, controlled group or
single-employer relationship with the Company.

 

For
Employees of Combined Life Insurance Company of New York the reduced vested
retirement benefit payable under this Section shall in no event exceed the
benefit payable under the rules and regulations of the New York State
Insurance Department.

 

5.05                        Change in Top-Heavy Status

 

If
the Plan becomes subject to Section 17 and subsequently ceases to be such,
the vesting schedule in Section 17.04 shall continue to apply in
determining the amount of monthly vested retirement benefit of any Participant
who had at least three Years of Service as of December 31st in the last
Plan Year of top-heaviness. For other Participants, said schedule shall apply
only to their accrued benefit as of such December 31st.

 

25

 

SECTION 6

 

Death Benefits

 

6.01                        Amount
of Death Benefit

 

Except
as provided in Section 7, no death benefits or survivor benefits shall be
paid upon the death of a Participant or former participant.

 

26

 

SECTION 7

 

Form of Payments

 

7.01                          Normal Form of Payment

 

Except
as provided in Section 7.03, the normal form of payment of any monthly
retirement benefit shall be a straight life annuity commencing on the date
indicated in Section 4 or 5 (as may be applicable).

 

7.02                          Guaranteed Period Annuity

 

In
every instance in which monthly retirement benefits are payable to a Retired or
Terminated Participant under Section 4 or 5, such Participant may elect to
receive such retirement benefits as a life annuity with payments certain for a
period of 5, 10, or 15 years. In any such instance, the monthly retirement
benefit shall be reduced to the actuarial equivalent of the straight life
annuity provided by the normal form. An election under this Section must
be filed with the Committee not more than 90 days and not less than 30 days
before retirement benefits are to commence.

 

7.03                          Payment in Qualified Joint and
Survivor Form

 

Notwithstanding
the provisions of Sections 7.01 and 7.02, if a Participant is legally married
under the laws of any jurisdiction on the date retirement benefits described in
Section 4 or 5 are to commence, then, in lieu of the form and amount of
retirement benefit provided by Section 7.01 or 7.02, the retirement
benefit of such Participant shall be paid in the form of a Qualified Joint and
Survivor Annuity (as defined below) with the spouse of such Participant unless
the Participant and his spouse have elected, as provided in Section 7.06,
to have his retirement benefits paid to him pursuant to Sections 7.01, 7.02, 7.04
or 7.05. For the purposes of this Plan, the term “Qualified Joint and Survivor Annuity”
means an annuity for the life of the Participant with a survivor annuity for
the life of his spouse which is equal to one-half of the amount of the annuity
payable during the joint lives of the Participant and his spouse and which is
actuarially equivalent to the annuity for the life of the Participant which he
would otherwise be entitled to receive under the normal form.

 

27

 

7.04                       Alternate Joint and Survivor Form

 

In
addition to the 50% Qualified Joint and Survivor Annuity form under Section 7.03
for the Participant and his spouse, a Participant may elect a joint and
survivor form with a survivor annuity of 50% (for a contingent annuitant other
than the spouse), 75% or 100% of the annuity payable during the joint lives of
the Participant and his designated contingent annuitant. Spousal consent under Section 7.14
shall not be required unless the contingent annuitant is a person other than
the spouse.

 

7.05                       Social Security Adjustment Option

 

In
order that a Participant who retires under the Plan, prior to the earliest date
upon which his primary insurance benefits may commence under the Social
Security Act, may receive a more level income where the monthly lifetime
annuity payable under Section 7.01 is taken together with the Participant’s
estimated primary insurance benefit under the Social Security Act commencing at
age 62, such Participant may elect to convert a portion of his lifetime annuity
to an actuarial equivalent temporary annuity. The temporary annuity shall
provide for monthly payments, commencing at the Participant’s retirement date,
provided that he is then living, and terminating with the monthly payment next
preceding the earlier of (i) the date of the Participant’s death or (ii) age
62.  Such election may be made by filing
a proper written authorization with the Committee before the date upon which
the annuity payments are to commence to the Participant.

 

7.06                       Election Not to Receive Qualified
Joint and Survivor Annuity

 

A
Participant, Retired Participant or Terminated Participant may elect to have
his retirement benefits paid to him pursuant to Sections 7.01, 7.02, 7.04 or
7.05 instead of the Qualified Joint and Survivor Annuity form under Section 7.03.
Any such election shall be made in writing and filed with the Committee on such
form as the Committee may determine, subject to spousal consent under Section 7.14,
and shall not be effective unless filed with the Trustees within 90 days of the
date retirement benefits commence.

 

7.07                       Revocation of Election Not To
Receive Qualified Joint and Survivor Annuity

 

A
Participant, Retired Participant or Terminated Participant, or his spouse, who
has elected not to receive his retirement benefits in the Qualified Joint and
Survivor Annuity form, as provided in Section 7.06, may revoke such
election at any time before retirement benefits commence.

 

28

 

7.08                        Surviving Spouse and Domestic
Partner Benefit

 

In the event of the death of a Participant, including
a Retired Participant or a Terminated Participant, prior to his annuity
starting date and after he has either attained his Normal Retirement Date under
Section 4 or has earned a vested retirement benefit under Section 5,
the surviving spouse of such deceased Participant shall be entitled to receive
a survivor annuity. This survivor annuity shall be in the amount that would
have been payable under Section 7.03 if the decedent had retired with a
Qualified Joint and Survivor Annuity thereunder on the day before his death; provided,
however, that if the Participant dies prior to age 55 the survivor
annuity shall not be payable until the date he would have attained age 55,
calculated as if the Participant had separated from service on the date of
death, survived to age 55, and retired with a Qualified Joint and Survivor
Annuity on the day before his death. Commencement of the surviving spouse
benefit shall be delayed beyond the date when it would otherwise commence if
the spouse so elects in writing, but not beyond the date on which the
Participant would have attained age 70-1/2 and only if Section 7.07 does
not apply.

 

Effective for Participants
who are employed in California by an Employer and who die after December 31,
2001, the Surviving Spouse Benefit will be paid to a “Qualified Domestic
Partner.” A “Qualified Domestic Partner” is a person of the same or opposite
sex of the Participant whose domestic partnership was registered with a city,
state or other government body and which meets all of the following
requirements:  (1) an intimate,
committed relationship of mutual caring; (2) shared principal residence; (3) agreement
to be responsible for the other’s basic living expenses; (4) both partners
are age 18 or older; (5) neither partner is married to another person or
has another domestic partner; (6) neither partner is related by blood; and
(7) neither partner has had a different domestic partner in the past six
months. A copy of any domestic partner registration shall be filed by the
Participant with the Committee, together with any other information the
Committee deems necessary to authenticate a domestic partner relationship. If a
person is a “Qualified Domestic Partner,” the benefit provided in the first
paragraph of this Section 7.08 shall be paid as if the person were the
surviving spouse of the Participant.

 

7.09                        Lump Sum Cash Out

 

In the event the actuarial
equivalent of any monthly benefit pursuant to any of the provisions of this
Plan expressed as a single sum is $5,000 or less, the Committee shall direct
the Trustee, upon termination of the Participant’s employment, to pay to the
person entitled to such monthly benefit, in a single sum, the amount of such
actuarial equivalent. For distributions occurring on or after January 1,
2002, any distribution hereunder which exceeds $1,000 shall be paid to an IRA
custodian selected by the

 

29

 

 

Committee unless the
Participant elects to receive the distribution or directs the distribution to a
different qualified plan or individual retirement account. If the payee is a
Participant, any benefit that may hereafter become payable to him because of subsequent
service as an Employee shall be reduced by the present value of the accrued
benefit which was paid to him pursuant to this Section or shall be
determined by disregarding the Years of Service with respect to which he has
received payment, the method to be used to be the one which results in the
lesser benefit.  For purposes of this Section 7.09,
the term “termination of employment” shall have the same meaning as the term
for purposes of Section 5.04(e).

 

For purposes of this section, if the present value of an employee’s
vested accrued benefit is zero, the employee shall be deemed to have received a
distribution of such vested accrued benefit.

 

7.10       Use of Annuity Policy

 

At such time as a retirement benefit becomes payable under this Plan,
the Committee may, in its sole discretion, provide for the payment of such
benefit by directing the Trustee to obtain an annuity policy from an insurance
company that will provide the retirement benefit that is payable and payment
pursuant to the terms of any said policy shall be deemed to be payment pursuant
to the terms of this Plan. The Trustee may retain ownership of any such policy
or assign it to the Participant (or his surviving spouse, if applicable) and
upon such assignment all further obligation to make payments pursuant to the
terms of this Plan shall terminate. Any annuity policy obtained after July 31,
1983, shall be issued on a unisex basis and all the terms and conditions under
any such contract, including benefits, premiums, options, loan values and cash
surrender values, shall be the same for both male and female. Before any
annuity policy is assigned by the Trustee it shall cause such policy to be made
nontransferable by any person other than the Trustee.

 

7.11       Return to Work

 

(a)                                  The
provisions set forth in (a)-(e) below shall apply to any Employee who is
reemployed by an Employer before January 1, 2001. Except as provided
below, the retirement benefits of an Employee receiving retirement benefits
pursuant to Section 4 or 5 and rehired by a corporation which is a member
of the same controlled group of corporations under Section 13.02 as the
Employer as of the time benefits commenced, shall be suspended or shall
continue to be suspended only for the calendar month in which the first day of
the month next following his fifty-fifth (55th) birthday falls and calendar

 

30

 

months thereafter, in which he completes 40 or more Hours of Service.

 

(b)                                 An Employee may request, and the Committee
within a reasonable amount of time will render, a determination of whether
specific contemplated employment would result in suspension of benefits.
Requests for status determination shall be considered in accordance with the
procedure under Section 13.04 for affording a review of the status
determination.

 

(c)                                  No payment shall be withheld pursuant to this
Section unless the Committee notifies the Employee, by personal delivery
or first class mail, during the first calendar month in which the Plan
withholds payments, that his benefits are suspended. Such notification shall
contain a description of the specific reasons why benefit payments are being
suspended, a general description of this Section relating to the
suspension of payments, a copy of this Section and Section 7.13, and
a statement to the effect that applicable Department of Labor regulations may
be found in Section 2530.203-3 of Title 29 of the Code of Federal
Regulations. In addition, the suspension notification shall inform the Employee
of the procedure under Section 13.04 for affording a review of the
suspension of benefits.

 

(d)                                 An Employee rehired prior to his Normal
Retirement Date may earn additional Years of Service subsequent to his return
to work and until he retires on or after his Normal Retirement Date. Such
period shall be taken into account in figuring his Normal Retirement Benefit or
his vested retirement benefit, as may be applicable.

 

(e)                                  Benefits suspended under this Section shall
resume (or shall begin, in the case of a working Employee who continues in
employment after the first day of the month next following his fifty-fifth
(55th) birthday and who has completed 40 or more Hours of Service per month
thereafter as set forth in Subsection (b), above) no later than the first day
of the third calendar month after the calendar month in which the Employee
ceases to be subject to suspension of his benefits hereunder. The initial
payment shall include the payment scheduled to occur in the calendar month when
payments resume (or begin) and shall include any amounts withheld during the
period between cessation of employment (or the beginning of a calendar month
with less than 40

 

31

 

Hours of Service as provided at Section 7.12,
as the case may be) and the resumption of payments. The full amount of such
initial payment may be offset against the amount of any prior retirement
benefits erroneously paid to the Employee after he had become subject to this
Section, and subsequent benefit payments may be offset in the amount of 25% of
the amount otherwise due, until the amount of such overpayment has been
completely recovered.

 

(f)                                    Effective for any Employee who employed or is
reemployed by an Employer on or after December 31, 2000 and who has
commenced receiving retirement benefits, such benefits will not be terminated
or will commence again upon such reemployment. Benefit payments will continue
in the same amount and in the same form as were paid before the reemployment.
On subsequent termination of employment with the Employer, such benefits shall
be increased to reflect any additional accruals for any Years of Service after
reemployment and payments already received and decreased by the actuarial value
of any payments received.

 

7.12       When Participant Deemed
Retired

 

If a Participant continues to be employed after the fifteenth (15th)
day of the month next following his fifty-fifth (55th) birthday but in any
calendar month completes less than 40 Hours of Service, he shall, for the
purposes of this Plan, be deemed to have retired on the first day of the month
in which such event took place; provided, however, that the rules of
Section 7.11 shall continue to apply in respect to any subsequent month in
which he completes 40 or more Hours of Service.

 

7.13       General Provisions
Governing Distributions

 

(a)                                  Distribution
of benefits to a Participant who continues in employment with the Employer or
any subsidiary beyond the Participant’s Normal Retirement Date must begin by April 1
of the calendar year following the later of: (i) the calendar year in
which the Participant terminates employment with the Employer or any
subsidiary; or (ii) the calendar year in which the Participant attains age
70 1/2. If, however, the Participant is a five
percent owner of the Employer (as defined in section 416(i) of the Code)
(a “5%
Owner”) with respect to the Plan Year in which the
Participant attains age 70 1/2,  the required

 

32

 

distribution commencement date is April 1
of the calendar year following the calendar year in which the Participant
attains age 70 1/2.

 

(b)                                 A Participant who attains age 701/2 on or after January 1,
1999, and is not a 5% Owner, shall not be entitled to begin benefit payments
before termination of employment.

 

(c)                                  In the case of a Participant other than a 5%
Owner whose distributions commence or recommence later than the first day of April of
the calendar year following the calendar year in which such Participant attains
age 701/2, such Participant’s retirement benefit shall
not be less than:

 

(i)            the actuarial equivalent of the employee’s
retirement benefit that would have been payable as of the later of the April 1
following the calendar year in which the employee attains age 701/2 or January 1, 1997, if
benefits had commenced on that date, plus

 

(ii)           the actuarial equivalent of any additional
benefits accrued after that date; reduced by

 

(iii)          the actuarial equivalent of any distributions
made with respect to the employee’s retirement benefits after that date.

 

7.14        Spousal Consent

 

Any election by the Participant under Section 7.06 shall not take
effect unless the spouse consents in writing to such election.  Such consent must be given within the 90 day
election period under Section 7.06, must acknowledge the effect of the election
or designation, shall be to a specific Beneficiary and to a specific form of
benefit, and be witnessed by a Plan representative or a notary public. Any
consent shall be effective only as to such spouse. Such election shall take
effect without the spousal consent only if it is established to the
satisfaction of a Plan representative that the consent may not be obtained
because there is no spouse, because the spouse cannot be located, or because of
such other circumstances as the Secretary of the Treasury may by regulations
prescribe.

 

33

 

7.15        Notice

 

The Trustees shall deliver a written explanation to each Participant or
terminated Participant who will become entitled to receive vested retirement
benefits on or about the date nine (9) months before he attains age 55 of
the terms and conditions of the Qualified Joint and Survivor Annuity form and
the surviving spouse benefit, including the rights of the spouse under Section 7.14,
and the effect of electing or not electing such a form of payment. The
explanation shall include a general description of the eligibility conditions
and other material features of the optional forms of benefit, including the
relative values of such optional forms with the interest rate used in
calculating such values. Notwithstanding the provisions of Sections 7.06 and
7.07, the period for such election or revocation thereof shall not expire until
at least ninety (90) days after such notice has been given. Any Participant who
has not had an election under Section 7.06 made available may elect (or
his personal representative may elect in the event of his death) to receive the
balance of his benefits in a form other than that of a Qualified Joint and
Survivor Annuity or surviving spouse benefit at any time until ninety (90) days
after notice of the availability of such election is given to such Participant
(or to his personal representative).

 

7.16        Joint
and Survivor Annuities and Surviving Spouse Benefits to Former Participants

 

Effective August 23, 1984, a Participant (including a Terminated
Participant) who had at least one Hour of Service on or after September 2,
1974, to whom Section 205 of ERISA and IRC Section 401(a)(ll) (as in
effect on August 22, 1984) would not apply but for this Section, to whom
the amendments made by Section 103 and 203 of the Retirement Equity Act of
1984 dealing with Qualified Joint and Survivor Annuities and. Surviving spouse
Benefits do not apply, whose annuity starting date has not occurred as of August 23,
1984, and who is still alive as of August 23, 1984, may elect to have the
Provisions of Section 7 as in effect prior to August 23, 1984 apply.
A Participant (including a Terminated Participant) who had at least one Hour of
Service in any Plan Year beginning on or after January 1, 1976, to whom
the amendments made by Section 103 and 203 of the Retirement Equity Act of
1984 dealing with Qualified Joint and Survivor Annuities and Surviving Spouse
Benefits would not (but for this Section) apply who at the time of his
separation from service had at least ten Years of Service under the Plan and
had a non-forfeitable right at least a portion of his accrued benefit derived
from Employer contributions, whose annuity starting date has not occurred as of
August 23, 1984, and who is still alive as of August 23, 1984, may
elect to have the qualified pre-retirement survivor annuity requirements of the
amendments made by such Sections 103 and 203 apply. Any election under this Section may
be made during the period beginning August 23, 1984, and ending on the
earlier of the Participant’s Annuity Starting Date or the date of

 

34

 

his
death. Notice of the provisions of this Section shall be given at such
time or times and in such manner as the Secretary of the Treasury may
prescribe.

 

7.17        Commencement of
Benefits

 

Unless the Retired Participant otherwise elects, payment of any benefit
provided under the Plan shall commence no later than the 60th day after the
latest of the close of the Plan Year in which:

 

(i)                                     the Participant attains age 65;

 

(ii)                                  occurs the 10th anniversary of the year in
which the Participant commenced participation in the Plan; or

 

(iii)                               the Participant terminates employment with
the Employer.

 

The
failure of a Participant and spouse to consent to a distribution while a
benefit is immediately distributable, within the meaning of Treas. Regs.
§1.417(e)-l(b), shall be deemed to be an election to defer commencement of
payment of any benefit sufficient to satisfy this section. Regardless of the
foregoing, distributions (including distributions under any contract) made in
periodic installments (which may be increased or accelerated) to a Retired
Participant shall commence not later than April 1st of the calendar year
following the calendar year in which he attains age 70-1/2.

 

35

 

SECTION 8

 

Plan Funding

 

8.01        Contributions

 

The Employers will make contributions from time to time to the Trustee
under the Trust Agreement in amounts that are sufficient (as determined in
accordance with the Plan funding method and policy adopted by the Employer) to
provide the benefits provided hereunder and as are consistent with the
provisions of Part 3 of Title I of ERISA. Participants shall not make
contributions under the Plan.

 

8.02        Forfeitures

 

All forfeitures arising under the Plan will be applied to reduce the
Employer’s contributions thereunder and shall not be used to increase the
benefits any person would otherwise receive under the Plan.

 

36

 

SECTION 9

 

Rights
to Amend or Discontinue Contributions

 

9.01        Continuance
of Contributions Not Assumed

 

It is the expectation of the Employers that they will
continue this Plan and the payment of its contributions hereunder indefinitely;
but continuance of the Plan is not assumed as a contractual obligation and the
right is reserved to each Employer at any time to discontinue its contributions
hereunder.

 

9.02        Right
to Amend

 

Except as herein limited, the Company, by action of
the Board or by action of any person or entity authorized by the Board, shall
have the right to amend this Plan at any time to any extent it may deem
advisable.  Such amendment shall be
stated in an instrument in writing approved by the Board. Upon delivery of such
instrument to the Committee, this Agreement shall be deemed to have been
amended in the manner set forth, provided, however, except as may be required
to maintain this Plan as a qualified Plan under the IRC:

 

(a)           No
amendment shall increase the duties or liabilities of the Trustees without
their consent;

 

(b)                                 No
amendment shall have the effect of vesting in the Employers any interest in or
control over the Retirement Fund;

 

(c)                                  No
amendment shall have the effect of depriving the surviving spouse or
Beneficiary of a then deceased Participant of the right to receive the benefits
to which such spouse or Beneficiary is entitled;

 

(d)                                 No
amendment shall have the effect of depriving any then Retired Participant or
active Participant who has then reached his Normal Retirement Date of the
retirement income which he is entitled to receive;

 

(e)                                  No
amendment shall have the effect of depriving any Terminated Participant of the
benefits which he is entitled to receive;

 

37

 

(f)                                    No
amendment shall have the effect of depriving any Participant of any benefit he
would have been entitled to receive if he had terminated his employment
immediately prior to such amendment;

 

(g)                                 No
amendment shall have the effect of decreasing the accrued benefit of
Participant other than an amendment described in IRC Section 412(c)(8), or
Section 4281 of ERISA. For purposes of the preceding sentence a plan
amendment which has the effect of (i) eliminating or reducing a subsidy or
an early retirement benefit (as defined in regulations), or (ii) eliminating
an optional form of benefit with respect to benefits attributable to service
before the amendment, shall be treated as reducing accrued benefits. In the case
of a retirement-type subsidy, the preceding sentence shall apply only with
respect to a Participant who satisfies (either before or after the amendment)
the pre-amendment conditions for the subsidy. This Paragraph shall not apply,
to the extent provided by regulations, to a plan amendment described in clause (ii) (other
than a plan amendment having an effect described in clause (i)).

 

38

 

SECTION 10

 

Duration
and Distribution on Termination

 

10.01      Termination by Employer

 

Unless otherwise terminated, as provided in paragraphs
(a), (b), and (c), of this Section or Section 10.03, this Plan shall
continue in perpetuity, or for such time as may be necessary to accomplish the
purpose or which it is created. This Plan shall terminate upon the happening of
any of the following events:

 

(a)                                  The
Company, by appropriate resolution of its Board, elects to terminate this Plan;

 

(b)                                 An
Employer shall elect to terminate its participation in the Plan or shall be
judicially declared bankrupt or insolvent, or in the event of dissolution,
merger, or consolidation of the Employer without provision for continuing this
Plan; provided, however, in the event of dissolution, merger, or consolidation
of the Employer, provision may be made by its successor for continuing this
Plan and the substitution of such successor or successors for the Employer
hereunder, in which event this Plan shall continue in full force and effect and
further provided that termination shall be limited as described under Section 15.03.

 

(c)                                  There
is a complete termination of this Plan within the meaning of Section 411(d)(3) of
the IRC.

 

10.02      Distribution on Complete Termination

 

In the event this Plan shall terminate for any of the
reasons set forth in Section 10.01(a) or (c), the Trustees shall,
after payment of all expenses of liquidation, distribute the Retirement Fund in
the manner and order set forth in Section 4044 of ERISA. This Trust shall
continue as a liquidation trust until final distribution of all assets.

 

10.03      Termination by Pension Benefit Guaranty Corporation

 

In the event this Plan is terminated by reason of
proceedings instituted by the Pension Benefit Guaranty Corporation under Section 4042
of ERISA, the Retirement Fund shall be distributed pursuant to the provisions
of Section 402 of ERISA.

 

39

 

10.04      Vesting
Upon Termination

 

Except as provided in Section 11, upon the
termination or partial termination of this Plan the rights of all affected Participants
to benefits accrued to the date of termination or partial termination, to the
extent funded as of such date, shall be non-forfeitable.

 

40

 

SECTION 11

 

Benefits
in the Event of Early Termination of Plan

 

11.01      Participants

 

Notwithstanding any
provision in this Agreement to the contrary, the benefits provided by the
Company’s contributions for Participants whose anticipated annual retirement
benefit provided by such contributions will exceed $1,500, but applicable only
to the twenty-five highest paid Employees as of December 31, 1988
(including any such highest-paid Employees who are not Participants at that
time but may later become Participants) shall be subject to the conditions
hereinafter set forth.

 

11.02      Maximum Benefit

 

Such benefits shall be paid
in full which have been provided by the Company’s contributions not exceeding
the largest of the following amounts:

 

(a)                                  The
Company contributions (or funds attributable thereto) which would have been
applied to provide the benefits for the Employee of this Plan, as it existed
prior to January 1, 1989, and as if the Plan had been continued without
change.

 

(b)                                 $20,000

 

(c)                                  An
amount equal to 20% of the first $50,000 of the Participant’s annual Compensation
multiplied by the number of years between December 31, 1988, and (A) the
date that the Plan terminates, or (B) if benefits become payable to a
Participant described in Section 11.01 within ten years after December 31,
1988, the date the benefits of such Participant first become payable (if before
the date of termination of this Plan), or (C) if benefits become payable
to a Participant described in Section 11.01 after December 31, 1988,
and if the full current costs of the Plan for the ten years starting December 31,
1988, have not been met, or if the full current costs have not been met on the
dates referred to in (A) or (B) above, the date of the failure to
meet the full current cost.

 

(d)                                 whichever
of the following amounts shall apply:

 

41

 

(i)            for
a Participant who owns, directly or indirectly, more than ten percent (10%) in
value of either the voting stock of the Company or all the stock of the Company
(applying the constructive ownership rules of Section 1563(e) of
the IRC without regard to Section 1563(e)(3)), a dollar amount which
equals the present value of the benefit guaranteed for such Participant under Section 4022
of ERISA, as amended, or if the Plan has not terminated, the present value of
the benefit that would be guaranteed if the Plan terminated on the date the
benefit commences determined in accordance with regulations of the Pension
Benefit Guaranty Corporation; or

 

(ii)           for
a Participant not within Paragraph (i), above, a dollar amount which equals the
present value of the maximum benefit described in Section 4022(b)(3)(B) of
ERISA, as amended (determined on the date the Plan terminates or on the date
benefits commence, whichever is earlier) without regard to any other
limitations in Section 4022 of ERISA.

 

11.03      Limitation on Benefits

 

If (1) this Plan is terminated within ten years
after December 31, 1988, or (2) the benefits of any of the
Participants described in Section 11.01 become payable within ten years
from December 31, 1988, the benefits which any of the Participants
described in Section 11.01 may receive from the Company’s contributions
shall not exceed the benefits set forth in Section 11.02.

 

11.04      Termination of Employment

 

If a Participant described in Section 11.01
leaves the employ of the Company or withdraws from participation in this Plan,
the benefits which he may receive from the Company’s contributions shall not at
any time, within the first ten years after December 31, 1988, exceed the
benefits set forth in Section 11.02. If, at the end of the ten-year period
starting December 31, 1988, the full current costs for such ten years have
not been met, the benefits such Participant may receive from the Company’s
contributions shall not exceed the benefits set forth in Section 11.02
until the first time that the full current costs of this Plan have been met.

 

42

 

11.05      Death Benefits

 

These conditions shall not restrict the full payment
of any insurance, death or survivor’s benefits on behalf of a Participant who
dies while this Plan is in full effect and its full current costs have been
met.

 

11.06      Retirement Benefits

 

These conditions shall not restrict the current
payment of full retirement benefits not exceeding those provided by the normal
form called for by this Plan for any Retired Participant while this Plan is in
full effect and its full current costs have been met.

 

11.07      Lump Sum Distribution

 

The conditions of this Section shall not restrict
a lump sum distribution to a Terminated or Retired Participant of the benefits
he may be entitled to receive, if this Plan is in full effect and its full
current costs have been met at the time of the distribution and he enters into
an agreement with the Trustees to the effect that in the event

 

(a)                                  the
Plan terminates before December 31, 1998, or

 

(b)                                 a
default occurs in the payment of the full current costs of the Plan for any
Plan Year ending before December 31, 1998

 

he (or, in the case of his death, his estate) will repay to the Trustees
a sum equal to the actuarial equivalent of the amounts by which his monthly
retirement benefits under the Plan (under the normal form) would have decreased
during his then remaining lifetime pursuant to the provisions of this Section 11.
Such obligation to repay must be adequately secured, and if secured by property
of the distributes, the distributes must agree that if the market value of the
property falls below a certain percentage of the amount that would then be
repayable if the Plan were then terminated he will deposit additional property
necessary to sufficiently increase the value of the property held by the
depositary. The agreement need not be secured if the fair market value of Plan
assets is not less than the actuarial equivalent of all accrued benefits
(whether or nor forfeitable) expressed as a single sum; provided, that the
agreement shall provide for security to be provided in the future in the event
that the fair market value of Plan assets subsequently, during the period
covered by this Section, falls below the actuarial equivalent of all accrued
benefits.

 

43

 

11.08      Intent

 

This Section 11 is included in this agreement to
conform to the requirements of Treasury Regulation Paragraph 1.401-4(c) and
shall be applied in a manner consistent with such Regulation or any substitute
therefor but shall cease to be effective at such time as the provisions of the
Treasury Regulation Paragraph 1.401(c) or any substitute therefor are no
longer effective or applicable.

 

44

 

 

SECTION 12

 

Administrative Committee

 

12.01             Formation
and Members

 

This Plan shall be
administered by an administrative committee constituted of not less than three (3) and
not more than seven (7) members. The Board shall have the right at any
time and from time to time to appoint the members of the Committee and to
remove any member of the Committee and appoint a successor member. Each member
of the Committee shall serve until such time as he shall resign, die, or be
removed by the Board and until his successor is appointed. In the event of the
death, resignation or removal of any member acting hereunder, the Board may
appoint a successor to fill such vacancy and such successor member, upon
accepting such appointment by an instrument in writing delivered to the
Company, shall without further action, become vested with all the rights,
powers, -discretion and duties of a member of the Committee with like effect as
if originally named as a member hereunder. Each member of the Committee shall
have the right at any time, by ten (10) days written notice to the other
members then acting hereunder, and to the Company, to resign as a member
hereunder.

 

12.02             Chairman
and Secretary

 

The Committee shall appoint
a Chairman from among the members of the Committee and the Chairman shall
preside at all meetings of the Committee, and shall have the right to vote on
any matter to be determined by the Committee. The Committee shall also appoint
a Secretary to the Committee, who need not be a member of the Committee, who
shall keep an accurate record of all determinations of the Committee and
perform such other duties as may from time to time be assigned to him by the
Committee or the Chairman of the Committee.

 

12.03             Actions
of the Committee

 

All actions of the Committee
shall be by majority vote of the entire Committee.  No formal meetings need be called or held by
such Committee if a majority of the then members of the Committee shall
authorize and approve, by an instrument in writing, any action or decision
agreed upon by such majority.

 

45

 

12.04             Execution
of Instruments

 

The Committee may designate
any one or more of its members, or its Secretary, to sign any document,
instrument or paper on behalf of the entire Committee.

 

12.05             Reports
to the Board

 

The Committee shall furnish
such reports and other information as may be required from time to time by the
Board.

 

12.06             Administration
of the Plan

 

The Committee may, from time
to time, establish rules and procedures for administration of the Plan not
inconsistent with the Plan’s provisions, and administer the Plan in accordance
with such provisions and such rules and procedures. The Committee shall
have the exclusive right and discretionary authority to construe the terms and provisions
of the Plan, including without limitation, the power to construe or interpret
disputed, ambiguous or uncertain terms, and such other powers as may be
necessary to carry out the provisions of the Plan. The Committee shall also
have the discretionary authority to determine all questions relating to the
eligibility of Employees to participate in the benefits of the Plan and the
amount of such benefits, and resolve all questions pertaining to the
administration, interpretation and application of the Plan provisions. Benefits
under the Plan will be paid only if the Committee decides in its discretion
that the applicant is entitled to them. Actions taken in good faith by the
Company, the Committee or an Employer shall be conclusive and binding on all interested
parties as to all questions of interpretation and application under this Plan
and as to all other matters arising out of the administration thereof, and
shall be given the maximum possible deference allowed by the law. The Committee
shall issue such directions to the Trustee as may from time to time be
necessary to authorize the Trustee to make the payments provided for by this
Plan.

 

12.07             Liability
of Members

 

To the extent permitted by law, no member of the
Committee shall ever be liable for any act or default of any predecessor member
nor for any loss sustained through any error of judgment, but shall only be
liable for his own willful default. No successor member acting hereunder shall
be under any duty to examine into or take any action with reference to the
prior action of any prior Committee acting hereunder. The Company shall
indemnify and save harmless each member of the Committee and the Secretary to
the Committee from the effects and consequences of his actions and conduct in
his official

 

46

 

capacity, except to the extent that such effects and consequences flow
from his own willful conduct.

 

12.08               Allocation
of Duties

 

The Committee, by its
action, may allocate its fiduciary responsibilities among its members, and may
designate persons other than its members to carry out its fiduciary
responsibilities. The Committee, individual members of the Committee allocated
specific fiduciary responsibilities, and persons other than members of the Committee
designated to carry out specific fiduciary responsibilities may employ one or
more persons to render advice with respect to their responsibilities.   If the Committee has allocated a specific
fiduciary responsibility among its members, or has designated persons other
than its members to carry out a specific fiduciary responsibility, it shall do
the following things: (1) it shall make as a condition of such allocation
or designation the fact that the Committee may terminate the allocation or
designation at will; and (2) it shall report such allocation or
designation to the Board who by its action, may order that such allocation or
designation be terminated in which case it shall be done as soon as
practicable.

 

12.09               Investments

 

The Committee shall have no duty or obligation to
supervise or control in any way the investments made by the Trustee under the
Trust Agreement, but all fiduciary responsibility for investing and
safeguarding the assets of the Plan shall reside solely with such Trustee.

 

47

 

SECTION 13 

 

ERISA Provisions

 

13.01  Service for Predecessor

 

To the extent required by
regulations that may be prescribed by the Secretary of the Treasury or his
delegate, service for a predecessor shall be treated as service for the
Employers.

 

13.02 Controlled Group

 

To the extent required by Section 414(b), (c),
(m), (n) and (o) of the Internal Revenue Code, all employees of the
entities described therein shall be treated as employed by a single employer.
If an Employee or former Employee becomes employed or was employed by any such
entity that the Employer is a member of and such other member has not adopted
this Plan, the following rules shall apply:

 

	
  (a)

  	
   

  	
  Upon
  becoming an Employee of the Employer, his prior service in the employment of
  another member of the controlled group shall be considered as though it was
  service for the Employer for the purpose of determining when he will become
  eligible for participation under Section 3 and for the purpose of determining
  his eligibility for a vested retirement benefit.

  
	
   

  	
   

  	
   

  
	
  (b)

  	
   

  	
  If
  he was previously an Employee of the Employers and a Participant under this
  Plan but did not have five Years of Service at the time such employment
  terminated, his subsequent service in the employment of another member of the
  controlled group shall be considered as though it was service for the
  Employers for the purpose of determining his eligibility for a vested
  retirement benefit under Section 5.02.

  
	
   

  	
   

  	
   

  
	
  (c)

  	
   

  	
  His
  service for such other member of the controlled group shall in no event be
  considered for the purpose of determining his Normal Retirement Benefit under
  Section 4.01 or his Accrued Retirement Income under Section 5.02,
  it being the express intent hereof that his service for another member of the
  controlled group that has not adopted this Plan shall be counted for the
  purpose of determining his non-forfeitable percentage but not for the purpose
  of increasing the amount of benefits to which such percentage shall apply.

  

 

48

 

	
  (d)

  	
   

  	
  He
  shall not be eligible to receive any benefits while employed by any other
  member of the controlled group, except as provided at Section 7.12

  
	
   

  	
   

  	
   

  
	
  (e)

  	
   

  	
  Remuneration
  paid to such person for services rendered to another member of a controlled
  group shall not be considered in determining his Final Average Earnings.

  

 

13.03               Merger

 

This
Plan shall not be merged or consolidated with any other Plan or the assets held
under this Plan shall not be transferred to any other Plan, unless each Participant
in the Plan would (if the Plan then terminated) receive a benefit immediately after
the merger, consolidation or transfer which is equal to or greater than the
benefit he would have been entitled to receive immediately before the merger,
consolidation or transfer (if this Plan had then terminated).

 

13.04               Claims
Procedure

 

Pursuant to Section 503
of ERISA the following claims procedure is established:

 

	
  (a)

  	
   

  	
  A
  timely written application for benefits shall be filed with the Committee on
  a form prescribed by it.

  
	
   

  	
   

  	
   

  
	
  (b)

  	
   

  	
  if
  a Claim is denied, in whole or in part, written notice of such denial shall
  be furnished to the applicant setting forth, in a manner calculated to be
  understood by him, the following:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (i) 

  	
  The
  specific reason or reasons for the denial;

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (ii)

  	
  A
  specific reference to pertinent Plan provisions on which the denial is based;

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iii)

  	
  A
  description of any additional material or information necessary for the
  claimant to perfect the claim and an explanation of why such material or
  information is necessary; and

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iv)

  	
  An
  explanation of the claim review procedure.

  

 

49

 

	
  (c)

  	
   

  	
  An
  applicant whose claim has been denied in whole or in part (or his duly authorized
  representative) may appeal such denial to the Committee by making a written
  request for a review and may review pertinent documents and submit issues and
  comments in writing. A written request for review must be filed within 120
  days of the date an applicant has been notified of the denial or partial
  denial of this claim.

  
	
   

  	
   

  	
   

  
	
  (d)

  	
   

  	
  The
  decision on review shall be made promptly and within 60 days of receipt of
  the request for review, shall be in writing, and shall include specific
  reasons for the decision, written in a manner calculated to be understood by
  the applicant, and specific references to the pertinent Plan provisions on
  which the decision is based.

  

 

13.05             Maximum
Annual Benefit

 

The annual benefits payable to a Participant
under this Plan and any other qualified defined benefit plan adopted by the
Employer shall in no event exceed the lesser of $90,000 ($160,000 for 2002)
(the “dollar” limitation) or 100% of the Participant’s average compensation for
his high three consecutive calendar years of participation (the “percentage”
limitation). The following rules shall be effective in applying the
provisions of this Section:

 

(a)                            Both the
$90,000 ($160,000 for 2002) dollar limitation and the 100% percentage
limitation referred to in the first sentence of this Section shall be
adjusted for increases in the cost of living in accordance with regulations
prescribed by the Secretary of the Treasury or his delegate; provided, however,
that the 100% percent limitation shall be adjusted only in the case of
adjusting any benefits under this Section, and no cost of living adjustments
under this Subsection (a), including both the dollar limitation and percentage
limitation, shall be taken into account before the year for which such
adjustment takes effect.

 

(b)                           If the annual
benefit is payable in a form other than as a straight life annuity, an
adjustment shall be made to the maximum permissible annual benefit, in
accordance with regulations prescribed by the Secretary of the Treasury or his
delegates so that it is equivalent to the maximum annual benefit payable as a
straight life annuity. In determining the maximum annual benefit payable any
ancillary benefit which is not directly related to retirement income benefits
shall not be taken into account, and that portion of any joint and survivor
annuity

 

50

 

which constitutes a qualified
joint and survivor annuity under Section 7.03 shall not be taken into
account.

 

 

(c)                            If the
retirement income benefit begins before the Social Security Retirement Age (for
years beginning January 1, 2002 and thereafter, age 62) the determination
as to whether the $90,000 ($160,000 for 2002) dollar limitation referred to in
the first sentence of this Section has been satisfied shall be made in
accordance with regulations prescribed by the Secretary of the Treasury or his
delegate, by reducing the limitation so that such limitation (as so reduced)
equals an annual benefit (beginning when such retirement income benefit begins)
which is equivalent to a $90,000 ($160,000 in 2002) annual benefit beginning at
the Social Security Retirement Age (for years beginning January 1, 2002
and thereafter, age 62).  For years
before January 1, 2002, the reduction shall be made in such manner (as
prescribed by the secretary of the Treasury or his delegate) as is consistent
with the reduction for old-age insurance benefits commencing before the Social
Security Retirement Age under the Social Security Act.

 

(d)                           If the
retirement income benefit begins after the Social Security Retirement Age (for
years beginning January 1, 2002 and thereafter, age 65), the determination
as to whether the dollar limitation referred to in the first sentence of this Section has
been satisfied shall be made in accordance with regulations prescribed by the
Secretary of the Treasury or his delegate, by increasing the limitation so that
such limitation (as so increased) equals an annual benefit (beginning when such
retirement income benefit begins) which is equivalent to a $90,000 ($160,000 in
2002) annual benefit beginning at the Social Security Retirement Age (for years
beginning January 1, 2002 and thereafter, age 65).

 

(e)                            For the purpose of adjusting
any benefit under Subsection (b) or (c), above, the interest rate
assumption shall not be less than the greater of 5% or the rate specified in
the Plan. For purposes of adjusting any benefit under Subsection (d), above,
the interest rate assumption shall not be greater than the lesser of 5% or the
rate specified in the Plan. 

 

(f)                              Notwithstanding
the preceding provisions, the benefits payable with respect to a Participant
shall be deemed not to exceed his limitation if

 

51

 

they do not exceed $10,000
for the Plan Year, or for any prior Plan Year, and the Employer has not at any
time maintained a defined contribution Plan in which the Participant
participated.

 

(i)                             if a
Participant has less than 10 years of participation in the Plan, the $90,000
dollar limitation referred to in the first sentence of this Section shall
be the limitation determined under such sentence (without regard to this
Subsection (g)), multiplied by a fraction —

 

(A)                        the numerator
of which is the number of years (or part thereof) of participation, and

 

(B)                          the denominator
of which is 10.

 

(ii)                            If a
Participant has less than 10 years of service with the Employer, the 100%
percentage limitation under the first sentence of this Section and the
$10,000 limitation under Subsection (f) shall be adjusted by multiplying
such amounts by a fraction —

 

(A)                        the numerator
of which is the number of years (or part thereof) of service, and

 

(B)                          the denominator
of which is 10.

 

(iii)                         In no event
shall Paragraphs (i) or (ii), above, reduce either the dollar limitation
or the percentage limitation under the first sentence of this Section, or the
$10,000 limitation under Subsection (f), to an amount less than 1/10 of such
limitation (determined without regard to this Subsection (g)).

 

(iv)                      To the extent
provided in regulations this Subsection (g) shall be applied separately
with respect to each change in the benefit structure of the Plan.

 

(g)                           In the case of
an individual who was an active Participant in
this Plan before October 3, 1973, his annual benefit need not be less than
100% of his annual rate of compensation on the earlier of October 2, 1973,
or the date on which he separated from the service of the Employer; provided,
that such annual benefit shall not exceed the benefit which

 

52

 

would have been payable
under the terms of the plan on October 3, 1973, if his compensation taken
into account for any period after such date had not exceeded his annual rate of
compensation on such date; and provided further, in the case of a Participant
who separated from service prior to October 2, 1973, his annual benefit
shall in no event be greater than his vested retired benefit as of the date he
separated from service.

 

(h)                            In addition to
other limitations set forth in the Plan and notwithstanding any other
provisions of the Plan , the accrued benefit, including the right to any option
benefit provided in the Plan (and all other defined benefit plans required to
be aggregated with this Plan under the provisions of IRC Section 415)
shall not increase to any amount in excess of the amount permitted under IRC Section 415
as amended by the Tax Equity and Fiscal Responsibility Act of 1982.

 

(i)                                In determining
under which Plan the contributions or other annual additions, or benefits, of a
Participant should be reduced under this Section, the intent is that the order
of reduction set forth herein is for purposes of guidance only and not
obligatory, and that such order of reduction as to one Participant may be
different from another Participant, so as to afford maximum flexibility to the
Plan in avoiding a violation of the provisions of Section 415 of the IRC.

 

(j)                                For purposes of
this Subsection, the term “Social Security Retirement Age” means the age used
as the retirement age for the Participant under Section 216(1) of the
Social Security Act, except that such section shall be applied without regard
to the age increase factor, and as if the early retirement age under Section 216(1)(2) of
such Act were 62.

 

(k)                             In the case of
an individual who is a Participant as of January 1, 1987, the dollar
limitation of the Participant shall be equal to his Current Accrued Benefit if
such Current Accrued Benefit exceeds the benefit limitations of this Section and
of IRC Section 415(b) of the IRC. The “Current Accrued Benefit” shall
be the Participant’s accrued benefit under the Plan when expressed as an annual
benefit under IRC Section 415(b)(2), determined as if he had separated
from service as of December 31, 1986, but disregarding any changes in the

 

53

 

terms and conditions of the
Plan, or any cost-of-living adjustment, occurring after May 5, 1986.

 

(l)                                Compensation
shall include the following items:

 

(i)                             The Participant’s wages, salaries, fees for professional service and other
amounts received for personal services actually rendered in the course of
employment with an employer maintaining the plan (including but not limited to,
commissions paid salesmen, compensation for services on the basis of a
percentage of profits, commissions on insurance premiums, tips and bonuses).

 

(ii)                          For purposes of the prior sentence, earned income from sources outside the
United States.

 

(iii)                       Amounts
described in IRC Sections 104(a)(3), 105(a) and 105(h), but only to the
extent that these amounts are includable in the gross income of the Employee.

 

(iv)                      Amounts
described in IRC Section 105 (d), whether or not these amounts are
excludable from the gross income of the Employee under that section.

 

(v)                         Amounts paid or
reimbursed by the Employer for moving expenses incurred by an Employee, but
only to the extent that these amounts are not deductible by the Employee under
IRC Section 217.

 

(vi)                      The value of a non-qualified stock option granted to an
Employee by the employer, but only to the extent that the value of the option
is includable in the gross income of the Employee for the taxable year in which
granted.

 

(vii)                   The amount includable in the
gross income of an Employee upon making the election described in IRC Section 83(b).

 

(viii)                For limitation years
beginning after December 31, 1997, elective deferrals as defined in Code Section 401(g)(3),
and any amount which is contributed or deferred by the employer at the election
of the employee and which is not includible in

 

54

 

the gross income of the
employee by reason of Code Section 125 and for limitation years beginning
after December 31, 2000, any amounts considered transportation benefits
under Code Section 132.

 

(m)                        Compensation
shall not include the following items:

 

(i)                             Contributions
made by the Employer to a plan of deferred compensation to the extent that,
before the application of the IRC Section 415 limitations to that plan,
the contributions are not includable in the gross income of the employee for
the taxable year in which contributed. In addition, Employer contributions made
on behalf of an Employee to a simplified employee pension described in IRC Section 408(k) are
not considered as compensation for the taxable year in which contributed to the
extent such contributions are deductible by the Employee under IRC Section 219(b)(7).
Additionally, any distributions from a plan of deferred compensation are not
considered as compensation for IRC Section 415 purposes, regardless of
whether such amounts are includable in the gross income of the Employee when
distributed. However, any amounts received by an Employee pursuant to an
unfunded non-qualified plan may be considered as compensation for IRC Section 415
purposes in the year such amounts are includable in the gross income of the
Employee.

 

(ii)                          Amounts
realized from the exercise of a non-qualified stock option, or when restricted
stock (or property) held by an Employee either becomes freely transferable or
is not longer subject to a substantial risk of forfeiture (see IRC Section 83
and the regulations thereunder).

 

(iii)                       Amounts
realized from the sale, exchange or other disposition of stock acquired under a
qualified stock option.

 

(iv)                      Other amounts
which receive special tax benefits, such as premiums for group term life
insurance (but only to the extent that the premiums are not includable in the
gross income of the Employee), or contributions made by an Employer (whether or
not under a salary reduction agreement) towards the purchase of an annuity
contract described in Section 403(b) (whether or

 

55

 

not the contributions are
excludable from the gross income of the Employee).

 

(n)                          Except as
provided in regulations, the provisions of IRC Section 415 are hereby
incorporated by reference to the extent not set forth in this Section.

 

56

 

SECTION 14

 

Miscellaneous Provisions

 

14.01     Spendthrift Clause

 

Except as provided in Section 14.02,
benefits or payments from this Plan shall be paid to the individual entitled to
receive them personally and upon his personal receipt or endorsement. No Participant,
spouse or Beneficiary shall have the right or power to transfer, assign,
anticipate, mortgage, pledge or otherwise encumber this interest in the Trust
established by this Agreement, or his rights to receive payments or benefits
from the Trust and neither such interests nor rights nor any assets of the
Trust shall be subject to seizure or sequestration for the payment of any
debts, judgments, alimony or separate maintenance owed by the Participant or
Beneficiary nor to transferability by operation of law in the event of
bankruptcy, insolvency or otherwise, provided, however, that this
limitation shall not apply to a qualified domestic-relations order under IRG Section 414(p).

 

14.02    Facility of Payment

 

If any person to whom payments are to be made
under the Plan is in the judgment of the Committee or an insurance company that
has issued an annuity policy pursuant to Section 7.10 under a legal
disability, or by reason of mental or physical disability is in the opinion of
the Committee or such insurance company unable to administer properly such
payments, even though such person has not been legally adjudicated incompetent,
then such payment or payments may be made to any person, persons, or
institution as, in the option of the Committee or the insurance company, is
then maintaining or has custody of such person until claim is made by a duly
appointed guardian or other legal representative of such person.   Such payment shall constitute a full
discharge of liability of the Plan to the extent thereof.

 

14.03     Evidence of Survival

 

The Committee or an insurance company shall
have the right to require satisfactory evidence that a person entitled to
receive benefits hereunder is living on each and every date when a benefit is
due such person. In the absence of such evidence, when required, any payments
otherwise due shall not be made until such evidence shall have been received.

 

57

 

14.04     Discretionary Acts To Be
Uniform

 

Any discretionary acts to be taken under the
Plan by the Committee, or any person or persons to whom authority has been
delegated, shall be uniform in their nature and applicable to all persons
similarly situated, and no discretionary acts shall be taken that will be
discriminatory under the applicable provisions of the IRC pertaining to
qualified plans.

 

14.05     Elections To Be Made On
Prescribed Forms

 

All elections, claims, designations, and
revocations made by Participants or other persons under the Plan shall be made
in writing on forms prescribed by and furnished by the Committee and shall not
be effective until filed with the Committee.

 

14.06     Reliance On Information
Furnished By Employer

 

Any information furnished by the Employer to
the Committee, such as compensation of Employees, length of service, Hours of
Service, or otherwise, shall be accepted by the Committee as being true and
correct, and the Committee shall incur no liability in relying on such
information.

 

14.07     inability to Perform

 

Neither the Employers nor the Committee shall
be responsible for any inability to perform, or delay in performing, any act
occasioned by any restriction or provisions imposed by the Trustee, or by any
other person, or by law, and in the event any such inability or delay shall be
so occasioned, then that act which can be performed shall be performed by the
Employers or the Committee which, in the sole discretion of the Committee, most
completely carries out the intention and purpose of this Plan. All parties of
this Plan or in any way interested therein shall be bound by any acts so
performed under such conditions.

 

14.08     Misstatement of Age

 

In the event an Employee misrepresents his
age or his spouse’s age to his Employer or the Committee, he shall be entitled
to the lesser of the following benefits:

 

(a)      The benefit that
would be payable on the basis of actual age; or

 

58

 

(b)      The benefit that
would be payable on the basis of the misrepresented age.

 

14.09     Rights of Individuals

 

No Employee, nor any person claiming by,
through, or under such Employee, shall have any right, title, or interest in or
to the Retirement Fund except such right to a benefit as expressly provided
herein. No Employee shall be entitled to receive any part of the contributions
of the Employers or any other cash consideration upon his withdrawal from the
services of the Employers, or the termination of his services by the Employers,
unless otherwise provided herein, or upon the discontinuance of the Plan except
to the extent provided herein. All rights and claims are limited as set forth
hereunder and no Participant or other person shall have any recourse toward
satisfaction or payment of any benefit provided by this Plan from other than
the Retirement Fund or the Pension Benefit Guaranty Corporation. Nothing
contained herein gives, nor is intended to give, any Employee the right to be
retained in the service of the Employers, nor to interfere with the right of
the Employers to discharge or terminate the employment of an Employee at any
time and this Plan shall in no event be construed as a contract of employment
between any Employer and the Employee.

 

14.10     Actuarial Computations

 

The Committee, Trustees and the Employer shall be entitled to
conclusively rely upon any actuarial computations or evaluations made by an
insurance company or an actuary or a firm of actuaries. Except in case of a
mathematical error, each Employee,, or person claiming through any Employee,
shall be conclusively bound by any actuarial computation or evaluation made by
an insurance company or an actuary or a firm of actuaries, provided, however,
the determination of an actuarial equivalent of another form of payment or the
present value of future payments that may become payable shall be made on the basis
of the following factors until such time as the applicable law or rulings of
the Internal Revenue Service no longer requires fixed standards for actuarial
assumptions used in determining actuarial equivalents to be set forth in the
Plan:

 

Table

 

Unisex Pension Table - 1984 (UP-1984) with a two
year age setback, except that the age setback shall be one year for a
contingent annuitant under a joint and survivor annuity option.

 

59

 

Interest

 

Interest factor of seven and one-half percent
(7.5%), except that single sum distributions shall be based upon an interest
factor which shall be adjusted as of the first day of each calendar month to be
the monthly annuity rate (immediate or deferred) of the Pension Benefit
Guaranty Corporation for that calendar month.

 

The
following rules shall apply to the interest factor:

 

(i)           In figuring whether the single sum actuarial equivalent under Section 7.09
exceeds $3,500 ($5,000 for plan years beginning after August 5, 1997) the
interest rate used shall not exceed the Pension Benefit Guaranty Corporation (“PBGC”)
interest rate or rates for purposes of determining the present value of a lump
sum distribution on plan termination, as in effect on the first day of that
calendar month.

 

(ii)          In figuring whether such single sum actuarial equivalent exceeds $25,000,
the interest rate shall not exceed 120% of the PBGC interest rate but such
increase in the allowable PBGC rate may in no event cause the single sum
actuarial equivalent to be less than $25,000.

 

(iii)         This Section shall apply to distributions in Plan Years beginning
after December 31, 1986.  The Section shall
also apply to distributions in Plan Years beginning after December 31,
1984, which were not made

in accordance with regulations issued under the
Retirement Equity Act of 1984, other than distributions under an annuity
contract distributed to or owned by a Participant prior to September 17,
1985, unless additional contributions were made by the Employer under such
contracts.

 

(iv)         Effective for distributions beginning on and after January 1,
1996, in figuring whether the single sum actuarial equivalent under Section 7.09
exceeds $3,500 ($5,000 for plan years beginning after August 5, 1997), the
interest rate used shall be the annual interest rate on 30-year Treasury
securities as specified by the Commissioner of the Internal Revenue Service for
the September preceding the Plan Year that contains the distribution date.
The applicable mortality table shall be the 1983 Group Annuity Mortality Table,
or as otherwise prescribed in applicable Treasury regulations.

 

60

 

(A)         The following special rule shall apply with respect to any annuity
starting date (as defined under Code § 417(f)(2)) that occurs from January 1
through December 31, 1996: in figuring whether the single sum actuarial
equivalent under Section 7.09 exceeds $3500 the time for
determining the interest rate described under this paragraph (iv) of Section 14.10
shall be either September, 1995, or the calendar month in which the
distribution occurs, whichever results in the larger distribution.

 

14.11     Notice of Required
Action

 

In any case in which an Employer, the Committee, or the Trustee shall
be directed to take any action upon the occurrence of any event, they, or any
one or more of them, shall be under no obligation or liability to take such
action unless and until notice, proper and satisfactory to them shall first
have been received or the occurrence of such event. For the purposes of this Section 14.11,
a certificate in writing signed by an officer of the Company and delivered to
the Committee or the Trustee, or a certificate in writing from the Committee to
the Trustee as to the occurrence or happening of any event, shall constitute
conclusive evidence of such occurrence or happening, and the Committee and the
Trustee, respectively, shall be fully protected and discharged from all
liability whatsoever in accepting and relying on such certificate. No Trustee
shall be required to go a back of any action of the Committee, and no Trustee
shall be responsible to see that any action of the Committee is authorized by
the terms of this agreement.

 

14.12     Reliance Upon
Communication

 

Neither the Employers, the
Committee, nor any agent of the Trustees shall incur any liability in acting
upon any notice, request, signed letter, telegram, or other paper or documents
reasonably believed by any one of them to be genuine and to be signed or sent
by the proper person.

 

14.13     No Reversion To
Employers

 

The Employers shall in no event, either directly or
indirectly, receive any fund or contributions made by it to the Trust, nor
directly or indirectly participate in the distribution, or receive the benefits
of the assets or funds comprising the Retirement Fund prior to the satisfaction
of all liabilities with respect to Employees, beneficiaries, and spouses under
this Plan; provided, however, if there are any assets remaining
after all such

 

61

 

liabilities have been satisfied they shall be
returned to the Employers; provided, further: that (subject to
the limitations of Revenue Ruling 91-4):

(a)      If a contribution is made by a mistake of fact, the mistaken portion of
the contribution shall be returned within one year after payment of the mistaken
contribution upon the Employer’s written request; and

 

(b)     Each contribution by the Employer is conditioned upon the deductibility
of the contribution under the applicable section of the IRC. Accordingly, to
the extent of disallowance of the deduction for the part or all of the
contribution, the contribution shall be returned within one year after
disallowance upon the Employer’s written request.

 

Upon transfer to the Trustees, all responsibilities
of the Employers for each contribution shall cease, and the Employer shall have
no responsibilities for the acts of the Trustees.

 

14.14     Insurer Not Party To
Agreement

 

No insurance company (other
than the Employers) shall be deemed a party to this Plan for any purpose.

 

14.15     Construction

 

It is intended that this
Plan and the Trust Agreement which is a part thereof shall comply with the
provisions of ERISA and constitute a qualified plan and trust under the
Provisions of Section 401(a) of the IRC, and be operated in a manner
so as not to discriminate in favor of Highly Compensated Employees as defined
at Section 414(q) of the IRC. Accordingly, the provisions of this
Plan and the Trust Agreement shall be construed and applied in a manner
consistent with such intent. However, to the extent not superseded by ERISA,
this Plan and the Trust Agreement which is a part thereof, shall be construed
and enforced in accordance with the laws of the State of Illinois.

 

14.16     Section Titles Not Part of
Agreement

 

The section designations and titles are included
solely for convenience and shall, in no event, be construed to affect or modify
any of the provisions of this Agreement or be construed as a part thereof.

 

62

 

14.17     Gender and Case

 

Where used in this
Agreement, words in the masculine shall be read and construed as in the
feminine, and words in the singular shall be read and construed as though used
in the plural, in all cases where such constructions would so apply. Unless the
context requires otherwise, such words as “herein” “hereto” “hereinafter” “hereinbefore”
or “hereunder” refer to this instrument as a whole and not merely to the
subdivisions in which such words appear.

 

14.18     Eligible Rollover
Distributions

 

Effective with respect to distributions made
on or after January 1, 1993, a distributee may elect, at the time and in
the manner prescribed by the plan administrator, to have any portion of an
Eligible Rollover Distribution paid directly to an Eligible Retirement Plan
specified by the distributee in a Direct Rollover. For purposes of this Section 14.18:

 

(a)          An “Eligible Rollover Distribution” is any distribution of all or any portion
of the balance to the credit of the distributee, except that an Eligible
Rollover Distribution does not include: any distribution that is one of a
series of substantially equal periodic payments (not less frequently than
annually) made for the life (or life expectancy) of the distributee and the
distributee’s designated beneficiary, or for a specified period of ten years or
more; any distribution to the extent such distribution is required under Section 401(a)(9) of
the Code; and the portion of any distribution that is not includable in gross
income (determined without regard to the exclusion for net unrealized appreciation
with respect to employer securities).

 

(b)          An “Eligible Retirement Plan” is an individual retirement account
described in Section 408(a) of the Code, an individual retirement
annuity described in Section 408(b) of the Code, an annuity plan
described in Section 403(a) of the Code, or a qualified trust
described in Section 401(a) of the Code, that accepts the distributee’s
Eligible Rollover Distribution. In the case of an Eligible Rollover
Distribution to the surviving spouse, an Eligible Retirement Plan is an
individual retirement account or individual retirement annuity.

 

(c)          A “Distributee” is an employee or former employee, the employee’s or
former employee’s surviving spouse and the employee’s or former

 

63

 

employee’s spouse or former
spouse who is the alternate payee under a qualified domestic relations order,
as defined in Section 414(p) of the Code.

 

(d)          A “Direct Rollover” is a payment by the Plan to the Eligible Retirement
Plan specified by the Distributee.

 

14.19     Plan Expenses

 

Except as otherwise provided
below, all reasonable costs, charges and expenses incurred in the
administration of the Trust and the Plan, including premiums and other amounts
payable pursuant to Title IV of ERISA, compensation to an investment manager,
and any compensation to agents, attorneys, actuaries, accountants and other
persons employed by the Trustees or the Committee, will be paid from the Trust
to the extent not paid by the Employer in such proportions as the Trustees may
direct. The Trustees may be reimbursed from the Trust for all proper and direct
expenses incurred by them in discharge of their duties as Trustees.

 

14.20     Military Service

 

Notwithstanding any provisions of this Plan to the contrary, effective
as to any re-employment under Code Section 414(u) initiated on or
after December 12, 1994, contributions, benefits and service credits with
respect to qualified military service will be provided in accordance with Code Section 414
(u).

 

64

 

SECTION 15

 

Adoption of Plan by Subsidiary

15.01     Adoption of Plan

 

This Plan has been adopted
by Combined Insurance Company of America, Combined American Insurance Company,
Combined Insurance Company of Wisconsin, and Combined Life Insurance Company of
New York. Any other Subsidiary of the Company, by proper resolutions adopted by
its Board, or by an adoption agreement executed by a principal executive
officer, may become a party to this instrument by adopting this Plan as its
pension plan for its Staff Employees. A certified copy of such resolutions
shall be delivered to the Trustees.

 

15.02    Intention of Parties

 

The provisions of this Plan
shall be construed as the pension plan of each of the Employers that may adopt
this Plan as its pension plan and each such Employer shall contribute the cost
attributable to its Employees, as may be determined by the Company. Except as
otherwise may be provided herein, or as may be provided in the resolutions of
an adopting Subsidiary, it is the intention of the parties hereto that the
Employees of the Company and the Employees of any Subsidiary that adopts this
Plan or has adopted this Plan shall receive the same benefits as they would
receive if all the Employers were one corporate entity and this Plan were the
plan of such entity, and the provisions of this Plan shall be interpreted in
accordance with this intent.

 

15.03     Termination By One Employer

 

In the event any Employer discontinues the Plan in
accordance with the provisions of Section 10, this Plan shall only be
discontinued in respect to such Employer and its Employees but not in respect
to the other Employers that have adopted the Plan; it being understood that the
Plan shall continue in full force and effect as to any such other Employers and
their Employees.

 

65

 

SECTION 16

 

Rights of
Former Employees

 

16.01      Rights of Former
Employees

 

The rights of Employees whose employment terminated
prior to January 1, 1989, shall be determined by the terms of the Plan as
they existed prior to January 1, 1989; provided, however,
that if any such individual again becomes an Employee his rights shall be
determined by the terms of the Plan at the time he again becomes an Employee
and such amendments thereto as may thereafter be adopted.

 

66

 

SECTION 17

 

Provisions Applicable if Plan
Becomes Top-Heavy

17.01     Applicability

 

The provisions of this Section 17 shall be
applicable during any Plan Year commencing subsequent to December 31,
1983, but only if the Plan was a Top-Heavy Plan or was part of a Top-Heavy
Group on the Determination Date, and in such case shall override and supersede
all other provisions in this Plan to the contrary; provided, that these
provisions shall not apply to a Plan which is not itself a Top-Heavy Plan and which
was included in an Aggregation Group under the second sentence of Section 17.02(f);
provided further, that, these the extent permitted by law, Section 17.05
shall not apply to any Employee who has received the minimum contribution
and/or benefit for the Plan Year as required under The Top-Heavy rules from
either any defined contribution plan of the Employer, or from such defined
contribution plan plus this Plan.

 

17.02     Additional Definitions

 

(a)       Key Employee. The term “Key Employee” shall refer to any Participant
who at any time during the Plan Year or any of the four preceding Plan years,
is

 

(i)                                   an officer of the Employer, but not taking
into account any such Employee whose Compensation is (i) for plan years
beginning before January 1, 2002, less than one hundred fifty percent
(150%) of the maximum dollar limitation in IRC Section 415(c)(1)(A) as
in effect for the calendar year in which the Determination Date falls; or (ii) thereafter,
greater than $130,000, as adjusted under Section 415(i)(1) of the IRC;

 

(ii)                               for plan years beginning before January 1,
2002, one of the ten Employees owning [or considering as owning within the
meaning of Section 318 of the IRC but substituting 5% for 50% in Section 318(a)(2)(C)]
the largest interests in the Employer, but not taking into account any such
Employee whose Compensation is less than the maximum dollar limitation in IRC Section 415(c)(1)(A) as
in effect for the calendar year in which the Determination Date falls,

 

67

 

(iii)                             a Five Percent Owner of the Employer, or

 

(iv)                           a One Percent Owner of the Employer having an
annual compensation from the Employer of more than $150,000.

 

The term shall also include beneficiaries of a Key Employee. For
purposes of clause (i), no more than 50 Employees (or, if lesser, the greater
of 3 or 10% of the Employees) shall be treated as officers, and the officers
taken into account shall be the officers with the highest compensation. For
purposes of Paragraph (ii), if two Employees have the same interest in the
Employer, the Employee having greater annual Compensation from the Employer
shall be treated as having a larger interest. For purposes of Paragraphs (ii),
(iii), and (iv), the aggregation rules of Subsections (b), (c), and (m) of
Section 414 of the IRC (pertaining to employees of a controlled group of
corporation, of partnerships and proprietorships under common control, and of
an affiliated service group) shall not apply.

 

(b)              Five Percent Owner. The term “Five Percent owner” shall mean
any person who owns (or is considered as owning within the meaning of Section 318
of the IRC but substituting 5% or 50% in Section 318(a)(2)(C)] more than
five percent of the outstanding stock of the Employer or stock possessing more
than five percent of the total combined voting power of all stock of the
Employer.

 

(c)               One Percent Owner. The term “One Percent Owner” means any
person who owns or is considered as owning within the meaning of Section 318
of the IRC but substituting 5% for 50% in Section 318(a)(2)(C)] more than
one percent of the outstanding stock of the Employer or stock possessing more
than one percent of the total combined voting power of all stock of the
Employer.

 

(d)              Non-Key Employee. The term “Non-Key Employee” shall refer to
any Participant who is not a Key Employee.

 

(b)              Top-Heavy Plan. A Plan is a “Top-Heavy Plan” if, as of the
Determination Date, the present value of the cumulative accrued benefits under
the Plan for Key Employees exceeds 60% of the present value of the cumulative
accrued benefits for all Employees under the Plan, or under the Aggregation
Group if the Plan is required to be included in an Aggregation Group and such
group is a

 

68

 

Top-Heavy Group; provided, that the Plan shall not be a Top-Heavy Plan
if the Plan is part of an Aggregation Group which is not a Top-Heavy Group.

 

(f)                 Aggregation Group. The term “Aggregation Group” means (i) each
plan of the Employer in which a Key Employee is a Participant and (ii) each
other plan of the Company which enables any plan described in (i) to meet
the discrimination requirements of Section 401(a)(4) of the IRC or
the minimum participation standards of Section 410 of the IRC. In
addition, at the option of the Company, it may include any other plan of the
Company if the Group would continue to meet the requirements of Sections 401(a)(4) and
410 of the IRC with such other plan being taken into account.

 

(g)              Top-Heavy Group. An Aggregation Group is a “Top-Heavy Group”
if, as of the Determination Date, (i) the present value of the
cumulative accrued benefits for Key Employees under all defined benefit plans
included in such group, plus (ii) the aggregate of the accounts for Key
Employees under all defined contribution plans included in such Group, exceeds (ii) 60%
of a similar sum determined for all Employees.

 

(h)              Employee. The term “Employee” shall include the Beneficiaries of such Employee.

 

(i)                  Determination Date. The term “Determination Date” shall mean,
with respect to any Plan Year, the last day of the preceding Plan Year.

 

(j)                Compensation. The term “Compensation” for purposes of
computing a Participant’s minimum benefit shall mean all of the Participant’s
compensation as defined in Treasury Regulations §1.415-2(d),  as limited
by Code Section 401(a)(17). For purposes of determining whether an
employee is a key employee, Compensation means compensation as defined in Code Section 415(c)(3),
including amounts contributed by the Employer pursuant to a salary reduction
agreement.

 

(k)               Annual Retirement Benefit. The term “Annual Retirement Benefit” means
a benefit payable annually in the form of a single life annuity (with no
ancillary benefits beginning at Normal Retirement Date.

 

69

 

Such benefit shall be actuarially adjusted if payment commences before
or after Normal Retirement Date.

 

(1)               Applicable Percentage. The term “Applicable Percentage” means 2
percent multiplied by the number of Years of Top-Heavy Service with the
Employer, disregarding any such years in excess of ten.

 

(m)            Year of Top-Heavy Service. The term “Year of Top-Heavy Service” shall
refer to a Year of Service under Section 2.31, except that no Years of
Service shall be taken into account which may be disregarded under paragraphs
(4), (5) and (6) of IRC Section 411(a), other than under IRC Section 411(a)(4)(B) for
failure of the Participant to make mandatory contributions. In addition, a Year
of Top-Heavy Service with the Employer shall not be taken into account if

 

(i)      the plan was not a Top-Heavy Plan for the Plan Year ending
during such Year of Service, or

 

(ii)     such Year of Top-Heavy Service was completed in a Plan Year
beginning before January 1, 1984.

 

(n)              Top-Heavy Benefit. The term “Top-Heavy Benefit” shall mean a
Participant’s pension benefit earned under Section 17.05.

 

(o)              Testing Period. The term “Testing Period” shall mean the
period of consecutive Plan Years (not exceeding 5) during which the Participant
had the greatest aggregate Compensation from the Employer. Such years shall be
properly adjusted for years not included as a Year of Top-Heavy Service.
Furthermore, a year shall not be taken into account if

 

(i)       such year ends in a Plan Year beginning
before January 1, 1984, or

 

(ii)      such year begins after the close of the
last year in which the Plan was a Top-Heavy Plan.

 

70

 

17.03     Special Rules

 

In determining whether the Plan is a Top-Heavy Plan or part of a
Top-Heavy Group, the following rules shall apply.

 

(a)               Except to the extent provided in regulations
issued by the Secretary of the Treasury, any rollover contribution (or similar
transfer) initiated by an Employee and made after December 31, 1983, to a
plan shall not be taken into account with respect to the transferee plan.

 

(b)              If any individual is a Non-Key Employee with
respect to the Plan for any Plan Year, but such individual was a Key Employee
with respect to the Plan for any prior Plan Year, any accrued benefit for such
Employee (and the account of such Employee) shall not be taken into account for
purposes of Sections 17.02(e), (f) and (g).

 

(c)                To the extent provided in regulations issued
by the Secretary of Treasury, the Top-Heavy rules of this Section shall
be applied on the basis of any year specified in such regulations in lieu of
Plan Years.

 

(d)              In determining present values and account
balances under Section 17.02(e), (f), and (g), all distributions made with
respect to any Employee during the 5-year period ending on the Determination
Date shall be added back and included therein. For plan years beginning on and
after January 1, 2002 the distributions to be added and included are any
distributions made during the 1-year period ending on the Determination Date
and any distributions made during the 5-year period ending on the Determination
Date if made for a reason other than termination of employment, death or
disability. The preceding sentence shall also apply to distributions under a
terminated plan which if it had not been terminated would have been required to
be included in an Aggregation Group.

 

(e)               In determining the present value of accrued
benefits under Section 17.02(e) or (g), amounts attributable to
deductible employee contributions shall not be considered to be part of the
accrued benefits.

 

(f)                 Effective January 1, 1985, if any
Employee has not performed services for any Employer maintaining the Plan at
any time during the 5-Year period ending on the Determination Date, any accrued
benefit

 

71

 

for such Employee (and the
account of such individual) shall not be taken into account.

 

17.04      Vesting With Respect To Participant’s Top-Heavy Benefit

 

In lieu of the vesting
schedule set forth in Section 5.02, a Participant, provided he earns at
least one Hour of Service after the Plan becomes Top-Heavy, shall vest in his
Top-Heavy Benefit according to the following schedule:

 

	
  Completed Years of Service

  	
   

  	
  Non-Forfeitable %

  	
   

  
	
  2

  	
   

  	
  20

  	
  %

  
	
  3

  	
   

  	
  40

  	
  %

  
	
  4

  	
   

  	
  60

  	
  %

  
	
  5

  	
   

  	
  80

  	
  %

  
	
  6

  	
   

  	
  100

  	
  %

  

 

17.05     Minimum Benefit For Non-Key Employee

 

The Normal Retirement
Benefit derived from Employer contributions for each Participant in a Top-Heavy
Plan, when expressed as an Annual Retirement Benefit, shall not be less than
the Applicable Percentage of his average Compensation in the Testing Period.
The Participant’s accrued benefit under Section 2.01 shall not be less
than the amount of such Top-Heavy Benefit. Any accrued benefits derived from
Employer contributions, whether or not attributable to years for which the Plan
is a Top-Heavy Plan, may be used to satisfy such minimum benefit.

 

17.06     Maximum Annual Benefit

 

The limitations of Section 13.05 shall be
applied by substituting 1.0 for 1.25 where it appears in Section 13.05(g) in
the denominators of the defined benefit plan fraction and the defined
contribution plan fraction.   However, if
the plan would not be a Top-Heavy Plan or part of a Top-Heavy Group if 90% were
substituted for 60% in Sections 17.02(e) and (g), then “3 percent” shall
be substituted for “2 percent” as the minimum benefit for any defined benefit
plan in the Top-Heavy Group and the preceding sentence shall not apply. The
application of the first sentence of this Section 17.06 shall be suspended
with respect to any Participant so long as there are no (i) Employer
contributions, forfeitures or voluntary nondeductible contributions allocated
to such Participant or (ii) accruals for such Participant under any
defined benefit plan. If the first sentence of this Section 17.06 is
applicable, Section 13.05(h) shall be applied by

 

72

 

substituting $41,500 for $51,875. The provisions of this Section 17.06
shall not apply to plan years beginning on and after January 1, 2000.

 

17.07     Simplified Employee Pensions

 

For purposes of Section 17,
a Simplified Employee Pension shall be treated as a defined contribution plan.
At the Employer’s election, the aggregate Employer contributions to a
Simplified Employee Pension may be taken into account in lieu of the aggregate of
the accounts of the Employees for the purpose of determining whether the Plan
is part of a Top-Heavy Group pursuant to Section 17.02(g).

 

17.08     Contributions Or Benefits Not Taken Into Account

 

The Plan must meet the
requirements of Sections 17.05 and 17.06 without taking into account (i) contributions
or benefits under Chapter 2 of the IRC (relating to tax on self-employment
income); (ii) Chapter 21 of the IRC (relating to Federal insurance
Contributions Act; (iii) Title 11 of the Social Security Act; or (iv) any
other Federal or State law.

 

17.09     Employment in Bargaining Unit

 

The provisions of Sections 17.02(j), 17.04 and 17.05 shall not apply
with respect to any Employee employed in a bargaining unit described in Section 3.02(d).

 

17.10     Commencement of Benefits

 

Notwithstanding Section 7.11(a),
distributions to a Key Employee shall commence not later than the end of his
taxable year in which he attains age 70-1/2 whether or not he has retired.

 

17.11     Forfeitures

 

No portion of a Participant’s Top-Heavy Benefit maybe forfeited under Section 7.11
or because of his withdrawal of any amount attributable to the benefit derived
from mandatory contributions made by such Participant.

 

73

 

SECTION 18

 

Mergers
and Transitional Rules

 

18.01              General

 

As part of the 1989 Restatement of The
Plan, both the Retirement Plan for Employees of the Life Insurance Company of
Virginia and Designated Subsidiaries and Designated Affiliates (“LOV Pension Plan”)
and the Miller, Mason & Dickenson, Inc. Pension Plan (“MMD
Pension Plan”) were merged into this Plan as set forth below. It is the
intention of this Section to set forth the transitional rules applicable
to former participants in those plans, and also to set forth transitional rules for
former participants in the Rollins Burdick Hunter Co. Employees Pension Plan
which was merged into this Plan effective January 1, 1986; and for former
participants in the Pension Plan for the Employees of Booke and Company (“Booke
Plan”) which was merged into this Plan effective August 1,1993.

 

18.02                 Mergers And
Transfers Of Assets And Liabilities

 

Effective as of January 1, 1989, or as
soon as administratively convenient thereafter, the following mergers and
transfers of assets and liabilities took place.

 

(a)                              Participants under the LOV Pension Plan
became Participants in this Plan as of January 1, 1989. The Trustee shall
deposit and hold as part of the Retirement Fund the transferred assets, as
certified to by the Trustee under the LOV Pension Plan as provided for by the
Amendment to such plan pursuant to which the assets of such plan are turned
over and delivered to the Trustee of this Plan.

 

(b)                             Participants under the MMD Pension Plan shall
became Participants in this Plan as of January 1, 1989. The Trustee shall
deposit and hold as part of the Retirement Fund the transferred assets, as
certified to by the Trustee under the MMD Pension Plan as provided for by the Amendment
to such plan pursuant to which the assets of such plan are turned over and
delivered to the Trustee of this Plan.

 

74

 

18.03              The Retirement Plan For Employees
Of The Life Insurance Company Of Virginia And Designated Subsidiaries

 

In figuring the normal
retirement benefit under Section 4.01, the 25 years of Service maximum
under Section 4.01(b) shall take into account years of credited
service for a former Participant in the LOV Pension Plan prior to such date and
such years of credited service shall reduce the remaining years available as of
January 1, 1989. The post-retirement cost of living adjustment (“COLA”)
under the LOV Pension Plan at former Section IX is eliminated but the
accrued benefit of a Participant as of December 31, 1988, shall be calculated
so as to take into account an actuarial increase to reflect the COLA as of such
date but only for Participants who attain age 55 with 10 or more years of
credited service. A Participant’s pre-retirement death benefit under the
66-2/3% joint and survivor annuity form as of December 31, 1988,
shall be the minimum amount of such benefit. As required under Reg. Section 1.410(a)-7(f) upon
transfer from an elapsed time plan to a plan using the general method, as of January 1,
1989, former participants shall get credit for the same number of Years under
this Plan as were credited under the LOV Pension Plan; provided, however,
that future benefits shall be reduced to take into account any part year
credited under the LOV Pension Plan; provided  further, however,
that the actual Hours of Service for the full Plan Year beginning January 1,
1989, shall be used since the computation period which includes the date of
transfer is a full year and not a fractional year. Since the accrual rate of
benefits is reduced, the amendment to the early termination rule at Section 11
shall not apply. The career average formula for Ordinary Field Representatives
(as defined in the LOV Pension Plan) is preserved through December 31,
1988, and the normal retirement benefit under Section 4.01 shall apply for
service on or after January 1, 1989; provided, however, that
service of an Ordinary Field Representative prior to January 1, 1989 shall
be taken into account in figuring years available under Section 4.01(b) and
Final Average Earnings. The formula for such field representatives shall be 1 %
of pay up to $17,000 plus 1.5% of pay in excess of $17,000. Accrued benefits as
of December 31, 1988 shall be calculated as set forth at Section 5.03(c).

 

18.04              Miller, Mason &
Dickenson, Inc. Pension Plan

 

With respect to the maximum
credit under Section 4.01(b) of 25 Years of Service on or after January 1,
1989, prior years of credited service under the MMD Pension Plan shall be taken
into account and reduce the 25 years maximum in the same manner as provided
under Section 18.03 for the LOV Pension Plan. The offset to the retirement
benefit for account balances in the former Miller, Mason & Dickenson, Inc.
Money Purchase Pension Plan is preserved. Any Participant with four years of
vesting service as of December 31, 1988 shall be given 40% vesting as of January 1,
1989.

 

75

 

Accrued benefits as of December 31, 1988 shall be calculated as
set forth at Section 5.03(d).

 

18.05              Rollins Burdick Hunter Co. Employees
Pension Plan

 

The formula for compensation
at former Section 19.01(g) shall include overtime. The special
pre-retirement death benefit for a Participant with 20 Years of Service or
after age 55 with 10 Years of service under former Section 19.15, for
payment of 50% of the accrued benefit immediately as the death benefit is
preserved, but only for the amount accrued as of December 31, 1988. The
retirement benefit formula at former Section 19.07 shall continue to apply
except that the new offset at Section 4.01(c) shall apply. Service
previously not taken into account as of December 31, 1988 pursuant to
former Sections 18(b)(ii) and 19.13 shall continue not to be taken into
account. The offsets at former Sections 18(b)(vi) and 19.10 shall continue
to apply.

 

18.06              Booke and Company Pension Plan

 

Effective August 1, 1993, the assets and
liabilities of the Pension Plan for the Employees of Booke and Company (“Booke
Plan”) shall be transferred to this Plan. The following special provisions
apply, effective as of August 1, 1993, to an Employee who was employed by
Booke and Company on July 31, 1993 (“Former Booke Employee”):

 

(a)                               Participation. Notwithstanding the provisions of Section 3
(“Eligibility”) of this Plan, both active and inactive participants in the
Booke Plan shall become Participants in this Plan as of August 1, 1993. A
Former Booke Employee who was not an active participant in the Booke Plan on July 31,
1993, shall become a Participant in this Plan following satisfaction of the
requirements of Section 3.02.

 

(b)                              Hours of Service. For purposes of satisfying Section 3.02
(relating to service requirements for eligibility), and Section 5.02
(relating to service requirements for vesting) hours of service performed for Booke
shall be considered hours of service performed for an Employer.

 

(c)                               Normal Retirement Benefit. The Normal Retirement Benefit for a Former
Booke Employee under Section 4.01 of this Plan shall be the sum of (i) and
(ii):

 

76

 

(i)                                   For Years of Participation (as defined in the
Booke Plan) before January 1, 1993: the normal retirement benefit as
computed under Section 5.1 of the Booke Plan but adjusted to reflect
Annual Earnings on and after January 1, 1993, as defined under the Aon
Pension Plan.

 

(ii)                                For Years of Service after December 31,
1992: the Normal Retirement Benefit as computed under Section 4.01 of this
Plan. The 25 Years of Service maximum under Section 4.01(b) shall
take into account years of credited service under the Booke Plan, and such
years of credited service shall reduce the remaining years available effective December 31,
1992.

 

(d)                              Early Commencement Election. A Participant who terminates employment
prior to his Normal Retirement Date shall be entitled to a vested retirement
benefit computed under Sections 5.02 and 5.04 provided, however,
that Accrued Retirement Income shall be computed in accordance with subsection (c) of
this Section 18.06, using the reduction factors and excess factors
specified in Section 5.2 of the Booke Plan with respect to Years of
Service before January 1, 1993, and that the reductions of Sections 5.04(b) and
(c) shall apply only to Accrued Retirement Income for Years of Service
after December 31, 1992.

 

(e)                               Special Rules. In no event shall the Normal Retirement
Benefit nor the Accrued Retirement Income of a Former Booke Employee under the
terms of this Plan be less than his minimum accrued benefit under the terms of
the Booke Plan as of July 31, 1993.

 

(f)                                 Benefit Options. Benefit options under the Booke Plan which
shall continue to apply to benefits accrued under the Booke Plan through July 31,
1993, shall include, under Section 7.8 of the Booke Plan, the ability of
the spouse of a deceased Participant to elect a benefit commencement date prior
to the date the Participant would have attained age 55.

 

77

 

18.07              Pension Plan for Employees of
Alexander & Alexander Services Inc. and Subsidiaries

 

Effective January 1, 1998, the assets and
liabilities of the Pension Plan for Employees of Alexander & Alexander
Services Inc. and Subsidiaries (The “A&A Plan”) shall be transferred to
this Plan. The following special provisions apply (in addition to those set
forth in the Tenth Amendment to this Plan), effective as of January 1,
1998, to an Employee who was employed by Alexander & Alexander
Services Inc. or its subsidiaries (“A&A”) on January 15, 1997 (“Former
A&A Employee”):

 

(a)                             Participation. Notwithstanding the provisions of Section 3
of this Plan (“Eligibility”), a Former A&A Employee who was a participant in
the A&A Plan on December 31, 1997, became a Participant in this

Plan as of January 1, 1998.

 

A Former A&A Employee who was not a participant
in the A&A Plan on December 31, 1997, shall become a Participant in
this Plan upon satisfaction of the requirements of Section 3.02 of this
Plan. For purposes of Section 3.02 of this Plan, Service shall be computed
in accordance with paragraph (b), below.

 

(b)                            Credit for service for eligibility.  For
purposes of satisfying Section 3.02 (relating to service requirements for
eligibility), a Former A&A Employee shall receive credit for periods of
Service with A&A prior to January 1, 1998. In addition, with respect
to any individual who terminated employment with A&A before January 15,
1997, but is employed by the Company before incurring five consecutive One-Year
Breaks-in-Service, service for A&A shall be considered Service for the
Company.

 

(c)                             Vesting. For purposes of satisfying Section 5.02 (relating to service
requirements for vesting), each participant in the A&A Plan who is a Former
A&A Employee and who completed at least two years of continuous employment
under the terms of the A&A Plan as of January 15, 1997, shall have a
100% nonforfeitable interest in such employee’s Accrued Retirement Income. In
addition, with respect to any individual who:

 

(i)                                  is a Former A&A Employee not described in
the previous sentence; or

 

78

 

(ii)                               terminated employment with A&A before January 15,
1997, but is employed by the Company before incurring five consecutive One-Year
Breaks-in-Service,

 

service for A&A shall be considered Service for
the Company.

 

(d)                              Total and Permanent Disability. A participant in the A&A Plan who was
totally and permanently disabled on or before December 31, 1997, shall be
credited with Years of Service under Section 4.01 of this Plan (with
earnings assumed to have continued unchanged during such period) for the
duration of the period in which the participant is totally and permanently
disabled up to the earliest of: (i)  
Normal Retirement Date; (ii) such participant’s election to be
treated as a terminated employee; (iii) such Participant’s election of an
early commencement of benefits under Section 5.04; or (iv) recovery.

 

(e)                               Part-time Employment. A participant in the A&A Plan whose employment
under the terms of the A&A Plan was attributable to less than regular
full-time employment, and who is described in Section 3(f) of Article IV
of the A&A Plan (regarding less than regular full-time employees employed
for 10 or more years) shall be credited with Years of Service under Section 4.01
of this Plan through January 15, 2000, as described in Section 3(f) of
Article IV of the A&A Plan.

 

(f)                                 $5,000 Minimum Distribution. For purposes of computing the lump sum
cashout under Section 7.09 of this Plan with respect to any annuity
starting date in 1998, the time for determining the interest rate described in Section 14.10
shall be either September, 1997, or December, 1997, whichever results in a
larger distribution.

 

18.08               Sodarcan and Affiliated Companies
Pension Plan and Trust

 

Effective January 1, 1998, the assets and
liabilities of the Sodarcan and Affiliated Companies Pension Plan and Trust
(the “Sodarcan Plan”) shall be transferred to this Plan. The following special
provisions apply, effective as of January 1, 1998, to an

Employee who was employed by BEP International Corp. on June 20,
1997 (“Former BEP Employee”):

 

(a)                              Participation. Notwithstanding the provisions of Section 3
of this Plan (“Eligibility”), a Former BEP Employee who was a participant

 

79

 

in the Sodarcan Plan on December 31, 1997,
became a Participant in this Plan as of January 1, 1998.

 

A Former BEP Employee who was not a participant in
the Sodarcan Plan on December 31, 1997, shall become a Participant in this
Plan upon satisfaction of the requirements of Section 3.02 of this Plan.
For purposes of Section 3.02 of this Plan, Service shall be computed in
accordance with paragraph (b), below.

 

(b)                             Credit for service for eligibility.  For
purposes of satisfying Section 3.02 (relating to service requirements for
eligibility), a Former BEP Employee shall receive credit for periods of Service
with BEP prior to January 1, 1998. Hours of service, for purposes of
determining Years of Service for eligibility on and after January 1, 1998,
shall be as defined in the Aon Pension Plan.

 

(c)                              Vesting. For purposes of satisfying Section 5.02 (relating to service
requirements for vesting), a Former BEP Employee shall receive credit for
periods of Service with BEP prior to January 1, 1998. Hours of service,
for purposes of determining Years of Service for vesting and for benefits
accruing on and after January 1, 1998, shall be as defined in the Aon
Pension Plan.

 

(d)                             Normal Retirement Benefit. The Normal Retirement Benefit for a Former
BEP Employee under Section 4.01 of this Plan shall be the sum of (i) and
(ii):

 

(i)                                     For Years of Service before January 1,
1998, the Accrued Benefit as computed under Section 1.1 of the Sodarcan
Plan as of December 31, 1997, multiplied by the greater of: (A) 1; or
(B) a fraction, the numerator of which is Final Average Earnings at date
of termination of employment and the denominator of which is Final Average
Earnings at December 31, 1997.

 

(ii)                                  For Years of Service after December 31,
1997, the Normal Retirement Benefit as computed under Section 4.01 of this
Plan, as amended effective January 1, 1998.

 

(e)                              Minimum Accrued Benefit. In no event shall the Normal Retirement
Benefit nor the Accrued Retirement Income of a Former BEP

 

80

 

Employee be less than such individual’s minimum
accrued benefit under the terms of the Sodarcan Plan as of January 15,
1998.

 

(f)                                Early Commencement
Election.  A Former BEP Employee who terminates
employment prior to such employee’s Normal Retirement Date shall be entitled to
a vested retirement benefit computed under Section 5.04; provided, however,
that Accrued Retirement Income shall be computed in accordance with subsection (d) of
this Section 18.07, using the reduction factors and excess factors
specified in Section 5.1(b) of the Sodarcan Plan or those specified
in Section 5.04 of the Aon Pension Plan with respect to Years of Service
before January 1, 1998, whichever is more favorable to the Former BEP
Employee. Reductions of Section 5.04(b) and (c) shall apply to
Accrued Retirement Income for Years of Service after December 31, 1997.

 

(g)                             Benefit Options. Benefit options under the Sodarcan Plan
which shall continue to apply to benefits accrued under the Sodarcan Plan
through January 15, 1998, are:

 

(i)                                     life annuity of ten years certain and for
life when payment in the form of a Qualified Joint and Survivor Annuity or
Pre-Retirement Survivor Annuity is not required and when an optional form of
benefit is not elected under the terms of the Sodarcan Plan.

 

(ii)                                  annuity that will guarantee payments for the
earlier of 20 years or age 85.

 

(h)                             $5000 Minimum Distribution. For purposes of computing the lump sum
cashout under Section 7.09 of this Plan with respect to any annuity
starting date in 1998, the time for determining the interest rate described in Section 14.10
shall be either September, 1997, or January, 1998, whichever results in the
larger distribution.

 

(i)                                 Total and Permanent Disability. No Participant who becomes totally and
permanently disabled after December 31, 1997, or who became totally and
permanently disabled before that date, as that term is defined in the Sodarcan
Plan, shall continue to accrue retirement benefits.

 

81

 

18.09             Bain Hogg Robinson, Inc.
Employees’ Retirement Plan

 

Effective January 1,
1998, the assets and liabilities of the Bain Hogg Robinson, Inc. Employees’
Retirement Plan (the “BHR Plan”) shall be transferred to this Plan. The
following special provisions apply, effective as of January 1, 1998, to
participants in the BHR Plan (“BHR Participants”):

 

(a)                              No benefit accruals on and after January 1,
1998. No benefits will be
accrued under the terms of this Plan by BHR Participants on and after January 1,
1998.

 

(b)                             Benefit Options.  Benefit options under the BHR Plan which shall
continue to apply to benefits accrued under the BHR Plan are:

 

(i)                                distribution options available to
beneficiaries with respect to BHR Participants who die after attainment of
normal retirement age but prior to commencement of benefits, as described in Section 7.03
and Exhibit B of the BHR Plan;

 

(ii)                             full cash refund option, as described in Section 3(a) of
Exhibit A and Exhibit B of the BHR Plan;

 

(iii)                          period certain and life option, as described
in Section 3(a) of Exhibit A and Exhibit B of the BHR Plan.

 

(c)                              Early Commencement Election.  A BHR
Participant who terminates employment prior to such participant’s normal
retirement date (as defined in the BHR Plan) shall be entitled to a vested
retirement benefit computed under Section 5.05 and Exhibit B of the
BHR Plan.

 

(d)                             Disability. A Participant who becomes disabled will receive a 100% vested
interest in such Participant’s accrued benefit. Such Participant may elect
commencement of benefits at any time following termination of employment; provided,
however, that such accrued benefit will be determined in accordance with
Section 5.03 and Exhibit B of the BHR Plan.

 

18.10                ASA Pension Plan

 

Effective December 31, 2000, the assets and
liabilities of the ASA Pension Plan (“ASA Plan”) shall be transferred to this
Plan. The following special provisions

 

82

 

apply,
effective as of December 31, 2000, to employees of ASA Acquisition Corp.
(or its affiliates (“ASA”) as of December 31, 2000 (“Former ASA Employees”).

 

(a)                              Participation. Notwithstanding the provisions of Section 3
of this Plan (“Eligibility”), a Former ASA Employee who was a participant in
the ASA Plan on December 31, 2000, became a Participant in this Plan as of
January 1, 2001.

 

A Former ASA Employee who was not a participant in the ASA Plan on December 31,
2000, shall become a Participant in this Plan upon satisfaction of the
requirements of Section 3.02 of this Plan. For purposes of Section 3.02
of this Plan, Service shall be computed in accordance with paragraph (b),
below.

 

(b)                             Credit for service for eligibility. For purposes of satisfying Section 3.02
(relating to service requirements for eligibility), a Former ASA Employee shall
receive credit for periods of Service with ASA prior to January 1, 2001 In
addition, with respect to any individual who terminated employment with ASA before
January 1, 2001, but is employed by the Company before incurring five
consecutive One-Year Breaks-in-Service, service for ASA shall be considered
Service for the Company.

 

(c)                              Vesting. For purposes of satisfying Section 5.02 (relating to service
requirements for vesting), each participant in the ASA Plan who is a Former ASA
Employee shall receive credit for Periods of Service with ASA prior to January 1,
2001. In addition, with respect to any individual who is a Former ASA
Participant not described in the prior sentence but who terminated employment
prior to January 1, 2001, but is employed by the Company before he has
incurred five consecutive One-Year Breaks-in-Service, service for ASA shall be
considered service under Section 5.02.

 

(d)                              Benefit Options. Benefit options under the ASA Plan which
shall continue to apply to benefits accrued under the ASA Plan as of December 31,
2000 are:

 

(i)                                   joint and 100% survivor annuity, as described
in Section 8.01(a)(i) of the ASA Plan;

 

83

 

(ii)                                lump sum distribution, as described in Section 8.01(a)(ii) of
the ASA Plan;

 

(iii)                             a cash payment option, as described in Section 8.01(a)(iii) of
the ASA Plan.

 

(e)                               Interest Crediting Rate. With respect to the Cash Balance Plan Account
existing on December 31, 2000, interest shall be credited at an effective
annual rate of six percent (6%) from January 1, 2001 to July 30,
2001, and credited at an effective annual rate of 4% thereafter.

 

18.11               International Risk Management
(Americas) Inc. Retirement Plan

 

Effective January 1, 2002, the assets and liabilities of the
International Risk Management (Americas) Inc. Retirement Plan (“IRM-Plan”) shall
be transferred to this Plan. The following special provisions apply, effective
as of January 1, 2002, to employees of International Risk Management
(Americas) Inc. or its affiliates (“IRM”) on December 31, 2001 (“Former
IRM Employees”);

 

(a)                             Participation. Notwithstanding the provisions of Section 3
of this Plan (“Eligibility”), a Former IRM Employee who was a participant in
the IRM Plan on December 31, 2001, became a Participant in this Plan as of
January 1, 2002. 

 

A Former IRM Employee who
was not a participant in the IRM Plan on December 31, 2001, shall become a
Participant in this Plan upon satisfaction of the requirements of Section 3.02
of this Plan. For purposes of Section 3.02 of this Plan, Service shall be
computed in accordance with paragraph (b), below.

 

(b)                            Credit for service for eligibility. For purposes of satisfying Section 3.02
(relating to service requirements for eligibility), a Former IRM Employee shall
receive credit for periods of Service with IRM prior to January 1, 2002 In
addition, with respect to any individual who terminated employment with IRM
before December 31, 2001, but is employed by the Company before incurring
five consecutive One-Year Breaks-in-Service, service for IRM shall be
considered Service for the Company.

 

84

 

(c)                              Vesting. For purposes of satisfying Section 5.02 (relating to service
requirements for vesting), each participant in the IRM Plan who is a Former IRM
Employee shall receive credit for Periods of Service with IRM prior to January 1,
2002. In addition, with respect to any individual who is a Former IRM Employee
not described in the prior sentence but who terminated employment prior to January 1,
2002 but who is employed by the Company before he has incurred five consecutive
One-Year Breaks-in Service, service for IRM shall be considered service under Section 5.02.

 

(d)                             Benefit Options. With respect to the accrued benefit of IRM
Participants on December 31, 2001, the distribution options set forth in Section 6.1
and 6.2 of the IRM Plan shall be available to the IRM Participants when
payments are due under the Plan.

 

(e)                              Early Retirement Benefit. If a Participant has ten Years of Service,
has attained age 55 and decides to commence benefits before attaining age 65,
the actuarial reduction applicable to such commencement of benefits shall be
those set forth in Section 4.2 of the IRM Plan with respect to the accrued
benefit of such participants on December 31, 2001.

 

18.12                Schirmer Engineering Corporation
Pension Plan

 

Effective January 1, 2002, or such earlier or later date
determined by the Committee, the assets and liabilities of the Schirmer
Engineering Corporation Pension Plan (“Schirmer Plan”) shall be transferred to
this Plan. The following special provisions apply, effective as of January 1,
2002, to employees of Schirmer Engineering Corp. or its affiliates (“Schirmer”)
on December 31, 2001 (“Former Schirmer Employees”);

 

(a)                               Participation. Notwithstanding the provisions of Section 3
of this Plan (“Eligibility”), a Former Schirmer Employee who was a participant
in the Schirmer Plan on December 31, 2001, became a Participant in this
Plan as of January 1, 2002.

 

A Former Schirmer Employee who was not a participant in the Schirmer
Plan on December 31, 2001, shall become a Participant in this Plan upon
satisfaction of the requirements of Section 3.02 of this Plan. For
purposes of Section 3.02 of this Plan, Service shall be computed in
accordance with paragraph (b), below.

 

85

 

(b)                              Credit
for service for eligibility. For purposes of satisfying Section 3.02
(relating to service requirements for eligibility), a Former Schirmer Employee
shall receive credit for periods of Service with Schirmer prior to January 1,
2002 In addition, with respect to any individual who terminated employment with
Schirmer before December 31, 2001, but is employed by the Company before
incurring five consecutive One-Year Breaks-in-Service, service for Schirmer
shall be considered Service for the Company.

 

(c)                               Vesting.
For purposes of satisfying Section 5.02 (relating to service requirements
for vesting), each participant in the Schirmer Plan who is a Former Schirmer
Employee shall receive credit for Periods of Service with Schirmer prior to January 1,
2002. In addition, with respect to any individual who is a Former Schirmer
Employee not described in the prior sentence but who terminated employment
prior to January 1, 2002 but who is employed by the Company before he has
incurred five consecutive One-Year Breaks-in Service, service for Schirmer
shall be considered service under Section 5.02.

 

(d)                              Benefit
Options. With respect to the accrued benefit of Schirmer Participants on December 31,
2001, the distribution options set forth in Section I(2) of the
adoption agreement under the Schirmer Plan shall be available to the Schirmer
Participants when payments are due under the Plan.

 

(e)                               Disability
and Early Retirement Benefit. If a Participant becomes disabled (as defined
in the Schirmer Plan) or has 20 Years of Service, has attained age 55 and
decides to terminate benefits before attaining age 65, the actuarial reduction
applicable to such commencement of benefits shall be those set forth in the
Schirmer Plan with respect to the accrued benefit of such participants on December 31,
2001.

 

86

 

 

SECTION 19 

 

Voluntary Retirement Program

 

19.01      Voluntary
Retirement Program

 

The terms of this Section 19
are effective to provide supplemental retirement benefits (subject to Section 13.05)
for certain Participants who terminate employment with an Employer under the
terms of the Voluntary Retirement Program. 

 

19.02      Definitions

 

In addition to those of Section 2, the following definitions shall
apply for purposes of this Section 19: 

 

(a)          “Additional Temporary Supplement” shall mean an
amount equal to $150, to be paid monthly until the first to occur of:

 

(i)                                     attainment of age 65;

 

(ii)                                  death of the Participant; or 

 

(iii)                               completion of 24 payments.

 

(b)                              “Lifetime Pension Supplement” shall mean an amount equal to 0.5 percent of
the Participant’s Final Average Earnings multiplied by Years of Service up to
but not in excess of 20 Years of Service. The Lifetime Pension Supplement shall
be paid at the same time and in the same optional form as benefits paid to the
Participant under Section 4 or 5 and shall terminate coincident with the
termination of such benefits.

 

(c)                               “Temporary Pension Supplement” shall mean an amount equal to 0.5 percent of
a Participant’s Final Average Earnings multiplied by Years of Service up to but
not in excess of 20 Years of Service.

 

The Temporary Pension Supplement shall be paid
monthly until the first to occur of:

 

(i)                                     attainment of age 65;

 

87

 

(ii)                                  death of the Participant; or

 

(iii)                               completion of 120 payments.

 

(d)                              “Voluntary Retirement Participant” shall mean a Participant who:

 

(i)            is at least 54 years of age on or before December 31,
1992;

 

(ii)           terminates employment with an Employer
between December 18, 1992, and February 15, 1993, inclusive; and

 

(iii)          meets the requirements of (A) or (B):

 

(A)                              has Annual Earnings in 1992 of less than
$62,345 and whose combined total Years of Employment and age as of January 1,
1993, is at least 66; or

 

(B)                                has Annual Earnings in 1992 of $62,345 or
more and whose combined total Years of Employment and age as of January 1,
1993, is at least 72.

 

Commissioned agents of
Combined Life Insurance Company of America and commissioned representatives of
Life Insurance Company of Virginia are not eligible for the Voluntary
Retirement Program.

 

(e)                               “Years of Employment” shall mean total number of years of
Employment with an Employer, beginning on the date an Employee first performs
an Hour of Service and ending on the date the Voluntary Retirement Participant
retires under the terms of this Section 19, excluding intervening periods,
if any, commencing with such Employee’s discharge or termination and ending
with such Employee’s rehire by an Employer. Years of Employment shall include
years of employment by a Voluntary Retirement Participant for an employer the
stock or assets of which was acquired by an Employer at the time of such
employee’s employment by the acquired entity.

 

(f)                                 “Years of Service” shall have the same meaning as stated in Section 2.28.
However, for the sole purpose of determining amounts under Section 19.02(a),
(b) and (c), Years of Service shall include credited service as that term
is used in the Frank B. Hall & Co. Inc.

 

88

 

Retirement Account Plan for those formerly employed
by Frank B. Hall companies and who were active participants in the Frank B. Hall &
Co. Inc. Retirement Account Plan as of December 31, 1992.

 

19.03     Coverage

 

A Voluntary Retirement
Participant shall be entitled to receive a Temporary Pension Supplement, an
Additional Temporary Pension Supplement and a Lifetime Pension Supplement upon
satisfaction of (a) and (b) on or before February 15, 1993:

 

(a)          receipt
by an Employer of properly executed election form; and

 

(b)          receipt
by an Employer of properly executed waiver and release.

 

19.04     Commencement of Benefits

 

Payment of the Temporary
Pension Supplement and the Additional Temporary Pension Supplement shall
commence as soon as practicable upon satisfaction of the requirements of Section 19.03
by the Voluntary Retirement Participant. Payment of the Lifetime Pension
Supplement shall commence coincident with commencement of benefits paid to the
Voluntary Retirement Participant in accordance with any election made by such
Participant under Section 4 or 5. The amount of the Lifetime Pension
Supplement, if payment is deferred, shall be the actuarial equivalent of the
Lifetime Pension Supplement as if payment had commenced upon the later of
attainment of age 55 or termination of employment.

 

89

 

SECTION 20

 

Ad Hoc Retiree Benefit Adjustment

 

20.01     Retirement Benefit Adjustment

 

Participants or
beneficiaries for whom benefit payments commenced before January 1, 1994,
shall receive an adjustment for payments, effective as of January 1, 1994.
Such adjustment shall be an addition to the monthly payment equal to: 3 percent
times the Normal Retirement Benefit times the number of full years of
retirement; provided, however, that:

 

(a)                          “11/2 percent” shall be substituted
for “3 percent” with respect to the Normal Retirement Benefit of: (i) former
Participants or beneficiaries in the LOV Pension Plan who are eligible for the
actuarial increase set forth in Section 18.03 of this Plan; and (ii) former
Participants and beneficiaries under the LOV Pension Plan currently eligible
for ongoing COLA adjustments;

 

(b)                                 the Normal Retirement Benefit shall be
computed in accordance with the adjustments set forth in Section 5.04 for
Participants and beneficiaries for whom the rules regarding early
commencement of benefits are applicable; and

 

(c)                                  the maximum increase in any monthly payment
shall not exceed $60.00 per month.

 

For purposes of this Section 20.01, a “full
year of retirement” shall be the 12- month period beginning on the date of a
Participant’s benefit commencement as defined in Section 4.01 or 5.04, and
each complete 12-month period thereafter.

 

90

 

SECTION 21 

 

1996 Voluntary Retirement Program

 

21.01     Voluntary Retirement Program

 

The terms of this Section 21
are effective to provide retirement benefits to supplement those otherwise
provided under this Plan to certain Participants described herein who terminate
employment with an Employer.  
Participants employed by The Life Insurance Company of Virginia; Union
Fidelity Life Insurance Company; Forth Financial Resources, Ltd.; and Newco
Properties, Inc., shall not be eligible to receive benefits under this Section 21.

 

21.02     Definitions

 

In addition to those of Section 2, the following definitions shall
apply for purposes of this Section 21:

 

(a)                             “Additional Temporary Supplement”
shall mean an amount equal to $150, to be paid monthly until the first to occur
of:

 

(i)         attainment of age 65;

 

(ii)        death of the Participant; or

 

(iii)       completion of 24 payments.

 

(b)                            “Lifetime Pension Supplement” shall
mean an amount equal to 0.5 percent of one twelfth of the Participant’s Final
Average Earnings multiplied by Years of Employment up to but not in excess of
20 Years of Employment. The Lifetime Pension Supplement shall be paid monthly
at the same time and in the same optional form as benefits paid to the
Participant under Section 4 or 5 and shall terminate coincident with the
termination of such benefits.

 

(c)                             “Temporary Pension Supplement” shall
mean an amount equal to 0.5 percent of one twelfth of the Participant’s Final
Average Earnings multiplied by Years of Employment up to but not in excess of
20 Years of Employment.  The Temporary
Pension Supplement shall be paid monthly until the first to occur of:

 

91

 

(i)         attainment of age 65;

 

(ii)        death of the Participant; or

 

(iii)       completion of 120 payments.

 

(d)                            “Voluntary Retirement Participant”
shall mean a Participant, other than a Participant employed by The Life Insurance
Company of Virginia; Union Fidelity Life Insurance Company; Forth Financial
Resources, Ltd.; and Newco Properties, Inc., who:

 

(i)      is actively employed on May 1, 1996;

 

(ii)     has attained 55 years of age on or before June 30, 1996;
and 

 

(iii)    meets the requirements of (A) or (B):

 

(A)                                     has
Annual Earnings in 1995 of less than $66,000 and whose combined total Years of
Employment and age as of June 30, 1996, is at least 60; or

 

(B)                                       has
Annual Earnings in 1995 of $66,000 or more and whose combined total Years of
Employment and age as of June 30, 1996, is at least 72.

 

Employees defined in Section 2.13 of this Plan
(“Field Sales Agent”) are not eligible for benefits under this Section 21.

 

(e)                             “Years of Employment” shall mean total
number of years of Employment with an Employer, beginning on the date an
Employee first performs an Hour of Service and ending on the date the Voluntary
Retirement Participant retires under the terms of this Section 21. Periods
of service as a Field Sales Agent shall not be included in the determination of
Years of Employment. Years of Employment shall include years of employment by a
Voluntary Retirement Participant for an employer the stock or assets of which
were acquired by an Employer at the time such employee was employed by the
acquired entity. In determining Years of Employment (including with respect to
preacquisition service), partial years of employment and periods commencing
with an Employee’s discharge or termination and ending with such Employee’s
rehire shall

 

92

 

be excluded. In no event shall Years of Employment
be less than Years of Service as defined in Section 2.31.

 

The determination of a Participant’s Years of
Employment shall be used solely for purposes of eligibility under Section 21.02(d)(iii)(A) and
(B) and computation of the Lifetime Pension Supplement and the Temporary
Pension Supplement under this Section 21, and not for any other purpose
under this Plan.

 

21.03     Voluntary Retirement Program Benefits

 

A Voluntary Retirement
Participant shall be entitled to receive the Temporary Pension Supplement, the
Additional Temporary Pension Supplement and the Lifetime Pension Supplement
upon satisfaction of (a) and (b):

 

(a)                               receipt by an Employer of a Voluntary
Retirement Participant’s election pursuant to the requirements of Sections 7.06
and 7.14; and

 

(b)                              termination of employment with an Employer on
or after May 1, 1996, but no later than June 30, 1996.

 

A Voluntary Retirement Participant who is entitled
to receive a Temporary Pension Supplement, an Additional Temporary Pension
Supplement or a Lifetime Pension Supplement upon satisfaction of (a) and (b) shall
be 100% vested in the Temporary Pension Supplement, the Additional Temporary
Pension Supplement and the Lifetime Pension Supplement upon termination of
Employment. With regard to all other benefits due the Voluntary Retirement
Participant under the terms of this Plan, the Voluntary Retirement Participant’s
nonforfeitable percentage of such benefit shall be as determined under Section 5
of this Plan.

 

21.04     Commencement of Benefits

 

Payment of the Temporary Pension Supplement and the
Additional Temporary Pension Supplement shall commence as soon as practicable
upon satisfaction of the requirements of Section 21.03 by the Voluntary
Retirement Participant. Payment of the Lifetime Pension Supplement shall
commence coincident with commencement of benefits paid to the Voluntary
Retirement Participant in accordance with any election made by such Participant
under Section 4 or 5. The amount of the Lifetime Pension Supplement, if
payment is deferred, shall be the actuarial equivalent of the Lifetime Pension
Supplement

 

93

 

as if payment had commenced upon the later of attainment of age 55 or
termination of employment.

 

21.05     Credit for Years of
Service for 1996

 

A Voluntary Retirement Participant who satisfies the
requirements of Section 21.03, and who has continuously worked for an
Employer from January 1, 1996, through Employment termination, shall be
deemed to have earned a Year of Service under Section 2.31 regardless of
the Hours of Service that would otherwise be credited to such Participant.
Nothing in this Section 21.05 shall permit a Voluntary Retirement
Participant to accrue more than one Year of Service for 1996.

 

94

 

SECTION 22

 

1999 Voluntary Retirement Program

 

22.01     Voluntary Retirement Program

 

The terms of this Section 22
are effective to provide retirement benefits to supplement those otherwise
provided under this Plan to certain Participants described herein who terminate
employment with an Employer. Employees defined in Section 2.13 of this
Plan (“Field Sales Agent”) are not eligible for benefits under this Section 22.

 

22.02     Definitions

 

In addition to those of Section 2,
the following definitions shall apply for purposes of this Section 22:

 

(a)          “Additional Temporary Supplement”
shall mean an amount equal to $150, to be paid monthly until the first to occur
of:

 

(i)        attainment of age 65;

 

(ii)       death of the Participant; or

 

(iii)      completion of 24 payments.

 

(b)          “Lifetime Pension Supplement” shall
mean an amount equal to 0.5 percent of one twelfth of the Participant’s Final
Average Earnings multiplied by Years of Employment up to but not in excess of
20 Years of Employment. The Lifetime Pension Supplement shall be paid monthly
at the same time and in the same optional form as benefits paid to the
Participant under Section 4 or 5 and shall terminate coincident with the
termination of such benefits.

 

(c)          “Temporary Pension Supplement” shall
mean an amount equal to 0.5 percent of one twelfth of the Participant’s Final
Average Earnings multiplied by Years of Employment (not including partial
years) up to but not in excess of 20 Years of Employment. The Temporary Pension
Supplement shall be paid monthly until the first to occur of:

 

(i)         attainment
of age 65; or

 

95

 

(ii)          death of the Participant.

 

(d)          “Voluntary Retirement Participant” shall mean a
Participant who meets the requirements of (i) through (iv):

 

(i)           was actively employed on February 15, 1999,
was included on the U.S. staff payroll as of February 5, 1999, and had a
scheduled rate of service in 1999 of at least 1000 hours a year;

 

(ii)          attained 55 years of age on or before March 31,
1999;

 

(iii)         meets the requirements of (A) or (B):

 

(A)         has Annual Earnings in 1998 of less than
$80,000 and whose combined total Years of Employment and age as of March 31,
1999, is at least 60; or

 

(B)          has Annual Earnings in 1998 of $80,000 or
more and whose combined total Years of Employment and age as of March 31,
1999, is at least 72; and

 

(iv)          was approved for participation in the Aon
1999 Voluntary Retirement Program by the Board or its delegee.

 

Notwithstanding the foregoing, a person who participated in the Aon
1993 Voluntary Retirement Program, the Aon 1996 Voluntary Retirement Program,
or any similar program offered by Alexander & Alexander Services, Inc.,
shall not be a Voluntary Retirement Participant.

 

(e)           “Years of Employment” shall mean total number of
years of Employment with an Employer, beginning on the date an Employee first
performs an Hour of Service and ending on the date the Voluntary Retirement
Participant retires under the terms of this Section 22. Periods of service
as a Field Sales Agent shall not be included in the determination of Years of
Employment. Years of Employment shall include years of employment by a
Voluntary Retirement Participant for an employer the stock or assets of which
were acquired by an Employer at the time such employee was employed by the
acquired entity. In determining Years of Employment (including with respect to
preacquisition service),

 

96

 

periods commencing with an Employee’s discharge or termination and
ending with such Employee’s rehire shall be excluded.

 

The determination of a Participant’s Years of
Employment shall be used solely for purposes of eligibility under Section 22.02(d)(iii)(A) and
(B) and computation of the Lifetime Pension Supplement and the Temporary
Pension Supplement under this Section 22, and not for any other purpose
under this Plan.

 

22.03     Voluntary Retirement Program Benefits

 

A Voluntary Retirement
Participant shall be entitled to receive the Temporary Pension Supplement, the
Additional Temporary Pension Supplement and the Lifetime Pension Supplement
upon satisfaction of (a), (b), and (c):

 

(a)          receipt by an Employer of a Voluntary Retirement
Participant’s election pursuant to the requirements of Sections 7.06 and 7.14;

 

(b)                              termination of employment with an Employer on
or after February 15, 1999, but no later than March 31, 1999; and

 

(c)                               timely receipt by an Employer of a Voluntary
Retirement Participant’s election and waiver and release of claims under the
Aon 1999 Voluntary Retirement Program.

 

A Voluntary Retirement Participant who is entitled
to receive a Temporary Pension Supplement, an Additional Temporary Pension
Supplement or a Lifetime Pension Supplement upon satisfaction of (a), (b), and (c) shall
be 100% vested in the Temporary Pension Supplement, the Additional Temporary
Pension Supplement, the Lifetime Pension Supplement, and in benefits otherwise
provided under this Plan upon termination of Employment. The nonforfeitable
percentage of benefits of an individual who meets the requirements of
subsection (d) of Section 22.02, but who fails to meet the
requirements of subsections (a), (b), and (c) of this Section 22.03,
shall be as determined under Section 5 of this Plan.

 

22.04     Commencement of Benefits

 

Payment of the Temporary
Pension Supplement and the Additional Temporary Pension Supplement shall
commence as soon as practicable upon satisfaction of the requirements of Section 22.03
by the Voluntary Retirement Participant. Payment of

 

97

 

the
Lifetime Pension Supplement shall commence coincident with commencement of
benefits paid to the Voluntary Retirement Participant in accordance with any
election made by such Participant under Section 4 or 5.  The amount of the Lifetime Pension Supplement,
if payment is deferred, shall be the actuarial equivalent of the Lifetime
Pension Supplement as if payment had commenced upon the later of attainment of
age 55 or termination of employment.

 

98

 

SCHEDULE A - AON PENSION PLAN

SPECIAL PROVISIONS RELATING TO SERVICE

 

I tended that this
schedule will be updated periodically by the Committee without need for plan
amendment.

 

	
  Company
  Name

  	
   

  	
  Acquisition

  Codes

  	
   

  	
  Stating Date for

  Computing Service

  For ELIGIBILITY

  	
   

  	
  Stating Date for

  Computing Service

  For Vesting 

  	
   

  	
  Stating Date for

  Computing Service

  For Benefit Accrual

  
	
  AA Burrows

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Dec-78

  
	
  Adams & Porter

  	
   

  	
  AI

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Oct-87

  
	
  ADC

  	
   

  	
  D

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  18-Mar-91

  
	
  AH Horan &
  Company

  	
   

  	
  BF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-Mar-95

  
	
  Albert G
  Ruben & Company

  	
   

  	
  AM

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Sep-93

  
	
  Alexander &  Alexander

  	
   

  	
  BZ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  Alexander &
  Associates

  	
   

  	
  BC

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jan-95

  
	
  Allen Hart Frantz
  Zehnder

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jan-87

  
	
  AMNA

  	
   

  	
  AB

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-92

  
	
  ANC Advisory

  	
   

  	
  DH

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-00

  
	
  Anderson & Anderson

  	
   

  	
  CB

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Oct-97

  
	
  Aon Risk Reinsurance

  	
   

  	
  A

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  28-Sep-88

  
	
  ARM Tech

  	
   

  	
  DI

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-00

  
	
  ASA

  	
   

  	
  DM

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Oct-00

  
	
  [ILLEGIBLE] Insurance
  Specialists

  	
   

  	
  CL

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  18-Sep-98

  
	
  Avon Consulting

  	
   

  	
  DT

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  8-Feb-01

  
	
  Bailey
  Martin & Fay

  	
   

  	
  F

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-89

  
	
  Bain Hogg

  	
   

  	
  BW

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-98

  
	
  Beck Kuklich &
  Swartman Inc BK

  	
   

  	
  CF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Mar-98

  
	
  Beebe
  Blakely & Forbes

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Oct-79

  
	
  BEP International

  	
   

  	
  CC

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  Berkely ARMS

  	
   

  	
  BI

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Sep-95

  
	
  Berrigan &
  Berrigan

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Oct-82

  
	
  Booke &  Company

  	
   

  	
  AH

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  Booth Potter Seal

  	
   

  	
  P

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  14-Apr-72

  
	
  Bougn Eader
  Reynolds & Wheller (?)

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-81

  
	
  Brockington &  Associates{S Mark}

  	
   

  	
  BU

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Aug-96

  
	
  Bryson Associations Inc

  	
   

  	
  AJ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-May-93

  
	
  Buckalew-Pryor &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Apr-80

  
	
  Butler &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  8-May-79

  
	
  California Group
  Services

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  3I-Aug-82

  
	
  Cal-Pacific
  Administration

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
   

  
	
  Cal-Pacific Security

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Jul-80

  
	
  Cambridge Medical
  Associates

  	
   

  	
  BP

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  12-Apr-96

  
	
  Cananwill

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jan-91

  
	
  [ILLEGIBLE] Systems
  Corporation

  	
   

  	
  CU

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  5-Feb-99

  
	
  Carl D Jacobs

  	
   

  	
  CI

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-98

  
	
  Carroll J Keane

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Nov-85

  
	
  CD Benefits

  	
   

  	
  CH

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-98

  
	
  Charles Ryan &
  Rivers

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Nov-76

  

 

1

 

SCHEDULE A - AON PENSION PLAN

SPECIAL PROVISIONS RELATING TO SERVICE

 

	
  Company
  Name

  	
   

  	
  Acquisition

  Codes

  	
   

  	
  Stating Date for

  Computing Service

  For ELIGIBILITY

  	
   

  	
  Stating Date for

  Computing Service

  For Vesting 

  	
   

  	
  Stating Date for

  Computing Service

  For Benefit Accrual

  
	
  Charles Southern Group

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jun-94

  
	
  CLI

  	
   

  	
  BL

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-Sep-95

  
	
  Cole Booth Potter

  	
   

  	
  P

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  14-Apr-72

  
	
  Cole Clark &
  Cunningham

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Dec-71

  
	
  Columbia Association

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Sep-79

  
	
  Compensation &  Capital

  	
   

  	
  E

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Jun-91

  
	
  Compensation Management
  Inc

  	
   

  	
  S

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Nov-89

  
	
  Congressional (D Craft)

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  2-Feb-90

  
	
  Copeland
  Marsha & David

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  28-Feb-78

  
	
  Credit life Insurance

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  29-Sep-90

  
	
  Curtis Day

  	
   

  	
  Y

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Nov-91

  
	
  Daniel Head Insurance
  Agency

  	
   

  	
  CY

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  26-Mar-99

  
	
  Diversified Claims

  	
   

  	
  Q

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Jun-91

  
	
  Don Flower Associates

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Feb-74

  
	
  Don Huff

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Nov-76

  
	
  Dowler Agency

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  20-Dec-76

  
	
  Energy Insurance
  International Inc

  	
   

  	
  BB

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jan-95

  
	
  [ILLEGIBLE]

  	
   

  	
  BX

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-Nov-96

  
	
  Ferguson Group

  	
   

  	
  AG

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  31-Jan-93

  
	
  First Security

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  22-Nov-85

  
	
  Frank B Hall*

  	
   

  	
  AF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  31-Dec-92

  
	
  Freemont

  	
   

  	
  DR

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Oct-00

  
	
  Freemont

  	
   

  	
  DN

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  27-Nov-00

  
	
  Freemont

  	
   

  	
  DS

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Dec-00

  
	
  Freemont

  	
   

  	
  DX

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-Feb-01

  
	
  Freemont

  	
   

  	
  EF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Jun-01

  
	
  Friis &
  Company

  	
   

  	
  BJ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  8-Aug-95

  
	
  Galaher Settlements

  	
   

  	
  CW

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  27-Jan-99

  
	
  Gene Sause &
  Company

  	
   

  	
  AY

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-94

  
	
  George V Kane &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  2-Apr-78

  
	
  Giesy Greer &
  Gunn

  	
   

  	
  CT

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  4-May-99

  
	
  Goetz-Haessler-James

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  21-Mar-79

  
	
  Great Northern

  	
   

  	
  DV

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Mar-01

  
	
  Hammond &
  Regine

  	
   

  	
  AS

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-94

  
	
  Harty &
  Associates Incorporated

  	
   

  	
  DB

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  23-Aug-99

  
	
  Higdon &
  Higdon Incorporated

  	
   

  	
  DE

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Nov-99

  
	
  Horizon

  	
   

  	
  DJ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  21-Aug-00

  
	
  Horton Agency

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  29-Oct-79

  
	
  [ILLEGIBLE]

  	
   

  	
  CZ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  18-Mar-99

  
	
  HR Strategies

  	
   

  	
  BA

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jan-95

  
	
  HR Strategies /
  Independent Contract

  	
   

  	
  BH

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-95

  
	
  Hudas Pellerito

  	
   

  	
  DC

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Sep-99

  

 

2

 

SCHEDULE A - AON PENSION PLAN

SPECIAL PROVISIONS RELATING
TO SERVICE

 

	
  Company
  Name

  	
   

  	
  Acquisition

  Codes

  	
   

  	
  Stating Date for

  Computing Service

  For ELIGIBILITY

  	
   

  	
  Stating Date for

  Computing Service

  For Vesting 

  	
   

  	
  Stating Date for

  Computing Service

  For Benefit Accrual

  
	
  Hudig-Langeveldt

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  24-Oct-91

  
	
  Hunter Insurance Agency

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  19-Aug-82

  
	
  Huntington T Block

  	
   

  	
  H

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Apr-91

  
	
  Hutchinson &
  Associates

  	
   

  	
  BG

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jul-95

  
	
  INAC

  	
   

  	
  DO

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-Oct-00

  
	
  Independent Dealers
  Services Inc

  	
   

  	
  AU

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Jun-94

  
	
  Insurance Brokers
  Services

  	
   

  	
  AL

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-May-93

  
	
  Insurance Marketing

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
   

  
	
  Insurance Thrift Agency

  	
   

  	
  BV

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Jul-96

  
	
  Insurmark

  	
   

  	
  BN

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  19-Dec-95

  
	
  Integremark

  	
   

  	
  DK

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  14-Sep-00

  
	
  IRMG

  	
   

  	
  DQ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Feb-00

  
	
  IRISC

  	
   

  	
  I

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-91

  
	
  ISA

  	
   

  	
  CA

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-97

  
	
  James T Phelps Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  14-Dec-77

  
	
  Jardine Claims
  Management

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Apr-87

  
	
  JH Blades

  	
   

  	
  AZ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-95

  
	
  [ILLEGIBLE] Rooney
  Welch

  	
   

  	
  DF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Jan-99

  
	
  JOS U Moore
  Incorporated

  	
   

  	
  BS

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-May-96

  
	
  JS Kemper

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-83

  
	
  K&K Insurance Group

  	
   

  	
  AK

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Jun-93

  
	
  Kahn & Nippert

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  5-Aug-82

  
	
  Karl Singer

  	
   

  	
  Z

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Mar-83

  
	
  Keeling &
  Company

  	
   

  	
  AV

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-95

  
	
  Key Royal

  	
   

  	
  K

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Feb-92

  
	
  KPMG

  	
   

  	
  CQ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Dec-98

  
	
  Labow Haynes of Alaska

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Apr-73

  
	
  Laverack &  Haines

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Apr-87

  
	
  Leak Mann Patrick
  Assocation

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  29-Dec-88

  
	
  Le Blanc de Nicolay

  	
   

  	
  CK

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-May-98

  
	
  Lemma Gill
  Cusick & Hensley

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Oct-85

  
	
  Life of Virginia

  	
   

  	
  L

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  Lucas &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Dec-86

  
	
  Lynn &
  Schaller Inc

  	
   

  	
  AT

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-94

  
	
  Marcom Tech

  	
   

  	
  G

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-Sep-91

  
	
  Markel Services

  	
   

  	
  AD

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  17-Jan-92

  
	
  Martin Boyer

  	
   

  	
  J

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Feb-90

  
	
  Maryland Casualty
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-91

  
	
  [ILLEGIBLE] &
  Associates

  	
   

  	
  CN

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  27-Jan-99

  
	
  McLagan

  	
   

  	
  EG

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  9-May-01

  
	
  MC Vucinich &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  26-Jun-79

  
	
  Media Professional

  	
   

  	
  AA

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Apr-92

  

 

3

 

SCHEDULE A  AON PENSION PLAN

SPECIAL-PROVISIONS RELATING TO SERVICE

 

	
  Company
  Name

  	
   

  	
  Acquisition

  Codes

  	
   

  	
  Stating Date for

  Computing Service

  For ELIGIBILITY

  	
   

  	
  Stating Date for

  Computing Service

  For Vesting 

  	
   

  	
  Stating Date for

  Computing Service

  For Benefit Accrual

  
	
  Mills Group

  	
   

  	
  BR

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-May-96

  
	
  Minet Group

  	
   

  	
  BY

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-May-97

  
	
  Minet Swett &
  Crawford

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  16-May-97

  
	
  More Benefits

  	
   

  	
  EC

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  2-Jul-01

  
	
  Morency
  Weible & Sapa

  	
   

  	
  BD

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-95

  
	
  Miller Mason &
  Dickenson

  	
   

  	
  M

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  National Benefit
  Corporation

  	
   

  	
  AN

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  20-May-93

  
	
  National Transportation
  Adjusters

  	
   

  	
  CF

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Mar-98

  
	
  Northcutt Cathey
  Houseman

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  
	
  NFS

  	
   

  	
  N

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-89

  
	
  Ogle & Waters

  	
   

  	
  X

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Nov-91

  
	
  Olympic Health
  Management Systems

  	
   

  	
  CM

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-Sep-98

  
	
  OUM Associates

  	
   

  	
  AR

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-95

  
	
  Pecos River Learning
  Centers

  	
   

  	
  AX

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Oct-94

  
	
  Peirano Brothers

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  12-Jul-74

  
	
  Pension Associates

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  31-Dec-82

  
	
  PHH Insurance
  Associates

  	
   

  	
  CR

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  27-Dec-98

  
	
  [ILLEGIBLE] Agency

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-87

  
	
  Powell &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  9-Oct-77

  
	
  Presidium

  	
   

  	
  CV

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  6-Apr-99

  
	
  Rath & Strong

  	
   

  	
  CD

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-98

  
	
  Reid & Carr

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Mar-91

  
	
  Reliance

  	
   

  	
  DP

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-Dec-00

  
	
  Reliance

  	
   

  	
  DL

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  22-Jan-01

  
	
  Reliance

  	
   

  	
  DY

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  2-Apr-01

  
	
  Reliance

  	
   

  	
  DZ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Apr-01

  
	
  Reliance/Cannanwill

  	
   

  	
  W

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  1-Mar-91

  
	
  Resource Dealer Group

  	
   

  	
  CX

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  26-Feb-99

  
	
  Roberry &
  Associates - UM

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  28-Jun-79

  
	
  Rollins Burdick Hunter

  	
   

  	
  B

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-67

  
	
  Ryan & Company
  - WF

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  2-Sep-74

  
	
  Ryan Insurance

  	
   

  	
  R

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-79

  
	
  Schirmer Engineering

  	
   

  	
  EB

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-May-01

  
	
  Schroeder
  White &  Johnson

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Oct-77

  
	
  Security California

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-87

  
	
  Selective Staffing
  Incorporated

  	
   

  	
  CG

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  31-Mar-98

  
	
  S Mark
  Brockington & Associates

  	
   

  	
  BU

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  30-Aug-96

  
	
  Soriero &
  Company

  	
   

  	
  BT

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-Jul-96

  
	
  [ILLEGIBLE] Marine
  Group

  	
   

  	
  DA

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-99

  
	
  Springhouse Financial
  Corporation

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-92

  
	
  Sten Recole

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  31-Dec-86

  
	
  Strong &
  Company

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-85

  

 

4

 

SCHEDULE A - AON PENSION
PLAN

SPECIAL PROVISIONS RELATING TO SERVICE

 

	
  Company
  Name

  	
   

  	
  Acquisition

  Codes

  	
   

  	
  Stating Date for

  Computing Service

  For ELIGIBILITY

  	
   

  	
  Stating Date for

  Computing Service

  For Vesting 

  	
   

  	
  Stating Date for

  Computing Service

  For Benefit Accrual

  
	
  SUI

  	
   

  	
  DVV

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  25-May-01

  
	
  Sutherland
  Paige & Company

  	
   

  	
  BE

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  11-Feb-95

  
	
  Synerconsultants

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  10-Nov-77

  
	
  Taylor

  	
   

  	
  T

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-90

  
	
  Tittle & Jones

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jan-90

  
	
  Todorovich

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  15-Mar-76

  
	
  Transporation Risk
  Management Services

  	
   

  	
  BK

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Oct-95

  
	
  Treacy &
  Rhodes Consultants

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
   

  
	
  UFAC

  	
   

  	
  ED

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  3-Jul-01

  
	
  Underwriters Marine
  Services

  	
   

  	
  AP

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Mar-94

  
	
  Union Fidelity Life
  Insurance Company

  	
   

  	
  U

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-79

  
	
  Western Treaty
  Underwriters

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  18-Nov-80

  
	
  Weil & Sons

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
   

  
	
  Wentcher &  Associates {Ernest C}

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  9-Dec-82

  
	
  Wexford

  	
   

  	
  AE

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  l-Jul-92

  
	
  WTR of Baltimore

  	
   

  	
  DD

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  29-Oct-99

  
	
  WTR of Bethesda

  	
   

  	
  CJ

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  8-May-98

  
	
  [ILLEGIBLE]
  of Virginia

  	
   

  	
  CP

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
  12-Jan-99

  
	
  Youngberg Carlson

  	
   

  	
   

  	
   

  	
  Anniversary

  	
   

  	
  Anniversary

  	
   

  	
   

  

 

No Benefit Accrual Date Listed

 

*Refers to employees of Frank B Hall &  Company, Inc or any of its subsidiaries
on November 1, 1992, and employed by the Company on or after November 2,1992.

 

Anniversary
Date is the date the Employee first performed an hour of service for the
acquired company.

 

 

5

 

IN WITNESS WHEREOF, Aon
Corporation has adopted the 2002 Restatement of the Aon Pension Plan.

 

 

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  
	
   

  	
   

  
	
   

  	
  /s/ John Reschke

  
	
   

  	
  John Reschke

  
	
   

  	
  Vice President

  

 

 

November 16, 2001

 

 

6

 

 

First Amendment to

the 2002 Restatement of

Aon Pension Plan

 

WHEREAS, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of Aon Pension
Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the Board of
Directors of Aon Corporation desires to amend the Plan pursuant to the Board’s
authority to do so under Section 9.02 of the Plan.

 

Now, therefore, the Plan, as
set out in the Restatement, is amended by substituting the following for the
last paragraph of Section 2.02 to the Plan, effective January 1,
2002:

 

“In no Plan Year shall a
Participant’s Annual Earnings exceed the amount permitted pursuant to Section 401(a)(17)
of the IRC (as indexed). For purposes of determining the limit on Annual Earnings
for Plan Years prior to January 1, 2002, the provisions of Section 401(a)(17)
of the IRC, as in effect on December 31, 2001, shall apply, except as
provided in this paragraph with respect to a Participant who was employed by an
Employer on December 31, 2001 and who has at least one Hour of Service on
or after January 1, 2002. With respect to such Participant who has at
least one Hour of Service on or after January 1, 2002, for purposes of
determining Final Average Earnings under Section 4.01(a) and Section 4.01(b),
and for determining Final Average Earnings in the numerator of Section 4.01(c)(i)(B) and
Section 4.01(d)(i)(B), the maximum amount permitted pursuant to IRC Section 401(a)(17)
shall be considered to be $200,000 for calendar years beginning prior to January 1,
2002.”

 

IN WITNESS WHEREOF, Aon Corporation has adopted this First Amendment to
the Aon

 

Pension Plan, effective as set forth above, on April 19, 2002.

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  John Reschke

  
	
   

  	
  Its:

  	
  VICE PRESIDENT

  
	
   

  	
   

  
	
  June 6,
  2002

  	
   

  

 

 

Second Amendment to

The 2002 Restatement of

Aon Pension Plan

 

Whereas, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of Aon Pension
Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

Whereas, the Board of
Directors of Aon Corporation desires to amend the Plan pursuant to the Board’s
authority to do so under Section 9.02 of the Plan, effective January 1,
2002.

 

Now, therefore, the Plan, as
set out in the Restatement is amended as follows, effective January 1,
2002, or as otherwise specified:

 

Section 3.07.   Section 3.07 shall be deleted, and the
following substituted in its place:

 

3.07                        Limitation
on Benefits for Employment as Field Sales Agent or with Certain Aon Entities

 

In the event an Employee was employed or becomes
employed:

 

(a)        as a Field Sales Agent;

(b)       by Aon Solutions, Inc.;

(c)        by Proudfoot Reports Incorporated;

(d)       by Aon Human Capital Services, LLC;

(e)        by Aon Consulting, Inc.,
on or after February 1, 2002, and such Employee of Aon Consulting, Inc.,
works in the Aon Consulting, Inc., Human Resources Outsourcing Group,

 

then the following rules shall apply:

 

(i)                                   Such Employee
shall not accrue any retirement benefit hereunder while employed as described
by subsections (a) through (e) of this Section 3.07, provided,
however, that any Employee described in subsection (e) of this Section 3.07
who had been a Participant in the Aon Pension Plan in the 30-day period prior
to February 1, 2002,, shall continue to accrue retirement benefits under
the terms of this Plan.

 

(ii)                                 Compensation
paid to such Employee for services while employed as described by subsections (a) through
(e) of this Section 3.07 shall be disregarded in determining Final
Average Earnings.

 

 

(iii)                              Years of
Service while employed as described by subsections (a) through (e) of
this Section 3.07 shall be counted for the purpose of determining such
Employee’s vested or non-forfeitable interest in such Employee’s Accrued
Retirement Income in the event employment terminates prior to the Employee’s
Normal Retirement Date.

 

(iv)                             Service while
employed as described by subsections (a) through (e) of this Section 3.07
shall in no event be considered for the purpose of determining an Employee’s Normal
Retirement Benefit under Section 4.01 or Accrued Retirement Income, it being
the express intent that such service shall be counted for the purpose of
determining eligibility to participate hereunder and non-forfeitable percentage
but not for the purpose of increasing the amount of benefits to which such
percentage shall apply.

 

Section 4.01. The first paragraph of Section 4.01
shall be deleted and the following substituted in its place:

 

Each participant who is
employed in the service of the Employer on his Normal Retirement Date and who
retires on or after his Normal Retirement Date shall be entitled to receive a
monthly Normal Retirement Benefit beginning the first day of the month
following his actual retirement and continuing for his life, equal to
one-twelfth of the sum of (a) through (e):

 

Section 4.01(e)   A new Section 4.01(e) shall be
added to read as follows:

 

(e)                               the accrued
retirement income of a Participant as of December 31, 2001, under the
terms of the International Risk Management (Americas) Inc. Retirement Plan (“The
IRMG Plan”).

 

(i)                                   in the case of
Participant who is employed by an Employer on December 31, 2001, and is
accruing a benefit under the IRMG Plan on that date, the amount described in (e) shall
be multiplied by the greater of: (A) 1; or (B) a fraction, the
numerator of which is Final Average Earnings (as defined under the Aon Pension
Plan) at date of termination of employment and the denominator of which is the
Final Average Earnings (as defined under the Aon Pension Plan) at December 31,
2001.

 

2

 

Section 7.09 The following shall be added as the final
paragraph of Section 7.09:

 

In determining the actuarial equivalent value of benefits for purposes
of applying this Section 7.09, the benefit accrued under any plan merged
into the Aon Pension Plan and the benefit accrued under the Aon Pension Plan
will be combined without regard to whether the merged plan benefit has
previously been distributed. If the actuarial equivalent value of the combined
benefits exceeds $5,000, the benefit payable from the Aon Pension Plan will not
be eligible for distribution as a single sum payment under Section 7.09.

 

Section 14.01 The title of Section 14.01
shall be changed to read as follows:

 

Spendthrift Trust and QDRO Provision

 

Section 14.01 The following shall be
added as the final sentence of Section 14.01:

 

For purposes of this Section 14.01, a qualified domestic relations
order shall mean a domestic relations order which relates to alimony, child
support or marital property rights and which has been determined by the Company
to meet the requirements of IRC Section 414(p) as amended from time
to time. The Company shall establish policies and procedures relating to the
administration of QDROs.

 

Section 14.10 The following shall be
added as the final sentence of Section 14.10(iv):

 

Effective for distributions beginning on and after January 1,
2003, and notwithstanding any other plan provisions to the contrary, the
applicable mortality table used for purposes of adjusting any benefit or
limitation under Section 415(b)(2)(B), (C) or (D) of the
Internal Revenue Code as set forth in Section 13.05 of this Plan and the
applicable mortality table used for purposes of satisfying the requirement of Section 417(e) of
the Internal Revenue Code as set forth in Section 14.10 of this Plan is
the table prescribed in Rev. Rul. 2001-62.

 

Section 18.10. Subsection (d) of
Section 18.10 shall be deleted and the following substituted in its place:

 

(d)                           Benefit Options. Benefit
options under the ASA Plan which shall continue to apply to benefits accrued
under the ASA Plan as of December 31, 2000 are:

 

3

 

(i)          an annuity
(including an annuity for the life of the Participant or the Participant’s
spouse, in the case of a benefit payable upon the death of the Participant), a
Qualified Joint and Survivor Annuity, or a 100% joint and survivor annuity, as
described in Section 8.01(a)(i) of the ASA Plan;

 

(ii)         lump sum
distribution, as described in Section 8.01(a)(ii) of the ASA Plan;

 

(iii)        a cash payment
option, consisting of (1) a lump sum payment as described in Section 8.01(a)(iii) of
the ASA Plan; plus (2) a residual annuity in the form of a single life
annuity, a Qualified Joint and Survivor Annuity, or a 100% joint and survivor
annuity also as described in section 8.01(a)(iii) of the ASA Plan, with
the amount of the annuity determined so that the total payments under this cash
payment options will be the actuarial equivalent of the Participant’s Accrued
Benefits;

 

(iv)        guaranteed
period annuity as described in Section 7.02 of the Plan;

 

(v)         joint and
survivor annuity distributions as described in Section 7.04 of the Plan
which are not described in subsection (d)(i) of this Section 18.10;

 

(vi)        temporary
annuity with Social Security adjustment option as described in Section 7.05
of the Plan.

 

For purposes of adjusting benefits and limitations required under Code Section 415,
and for purposes of computing actuarially equivalent benefits under the Plan
with respect to subsection (d)(i) through (d)(iii) of this Section 18.10,
the actuarial assumptions and factors set forth in Section 6.07 of the ASA
Plan shall be used.

 

For purposes of adjusting benefits and limitations required under Code Section 415,
and for purposes of computing actuarially equivalent benefits under the Plan
with respect to subsection (d)(iv) through (d)(vi) of this Section 18.10,
the actuarial assumptions and factors set forth in Section 14.10 of the
Plan shall be used.

 

Benefit options under the Plan as described in Section 7 of the
Plan, and the actuarial assumptions outlined in Section 14.10 of the Plan,
shall be the sole

 

4

 

benefit options and actuarial assumptions that shall
apply to benefits accrued under the Plan on and after January 1,2001, by
Former ASA Employees.

 

Section 18.11. Subsection (f) of Section 18.11
shall be added to read as follows:

 

(f)                              Years of
Service. Years of Service for purposes of determining the amount of benefits
under Section 4.01(e) shall not consider Years of Service prior to January 1,
2002.

 

IN
WITNESS WHEREOF, Aon Corporation has adopted this Second Amendment to the 2002
Restatement of the Aon Pension Plan, as of the 20th day of September, 2002.

 

 

	
   

  	
  AON
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
  John A. Reschke 

  
	
   

  	
  Vice President 

  
	
   

  	
  Global Employee Benefits

  

 

5

 

Third Amendment to

The 2002 Restatement of

Aon Pension Plan

 

Whereas, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of Aon Pension
Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

Whereas, the Board of Directors of Aon Corporation
desires to amend the Plan pursuant to the Board’s authority to do so under Section 9.02
of the Plan.

 

Now, therefore, the Plan, as set out in the
Restatement, is amended as follows, effective November 15, 2002:

 

Section 8.03.  A new Section 8.03 shall be added to
read as follows:

 

8.03. Investment Committee.

 

(a)            Appointment by Board. The Investment
Committee shall be appointed by the Board. The Board shall have the right at
any time, and from time to time, to remove any member of the Investment
Committee. Each member shall serve until 60 days after the earlier of (a) the
day notice of resignation is given to the Board (or its representative); or (b) the
day notice of removal by the Board (or its representative) is given to the
member. By mutual agreement, the 60-day notice may be waived. In the event of
the death, resignation, or removal of a member acting hereunder, the Board
shall appoint a successor to fill the vacancy, and such successor, upon
accepting appointment by an instrument in writing delivered to the Board (or
its representative) shall, without further action, become vested with all the
estate, rights, powers, discretion and duties of the predecessor.

 

(b)           Membership. The Investment
Committee shall consist of not less than three (3) nor more than seven (7) members.
Any person appointed shall signify acceptance by filing written confirmation
with the Board or its representative. 
The members of the Investment Committee shall serve without
compensation.

 

(c)            Discretionary Authority. The Investment
Committee shall have the discretionary authority to set investment policy and
guidelines, select and fire investment managers, monitor investment
performance, and determine funding requirements for the Plan, and shall have
such other powers, rights and duties vested in it elsewhere in the Plan or
Trust.

 

 

(d)           Delegation. The
Investment Committee may delegate these responsibilities to other persons
designated by the Investment Committee as named fiduciaries for such purposes
or to persons other than named fiduciaries, as described in Section 405(c) of
ERISA. The Investment Committee, by its action, may employ one or more persons to
render advice with respect to their responsibilities.

 

(e)            Transaction of Business. The
Investment Committee shall hold meetings upon such notice, at such place or
places, and at such time or times as it may from time to time determine. A
majority of the members of the Investment Committee at the time in office shall
constitute a quorum for the transaction of business. All resolutions or other
actions taken by the Investment Committee at any meeting shall be by the vote
of a majority of the members of the Investment Committee present at the
meeting. Actions may be taken by the Investment Committee without a meeting
where such actions are consented to in writing by the entire Investment
Committee.

 

(f)              Limitations on Liability. To the extent
permitted by law, each member of the Investment Committee, and each employee of
the Company who is involved in the work of the Investment Committee, shall be
relieved and released from all personal liability by reasons of any act or
failure to act on his part with respect to such work, except to the extent such
act or failure to act was a result of fraud or gross negligence

 

(g)           Indemnity. Each member
of the Investment Committee, and any other employee of the Company involved in
the work of the Investment Committee (and his or her respective assigns, heirs,
executors and administrators) shall be entitled to be indemnified by Aon
against all costs and expenses reasonably incurred by or imposed upon him in
connection with or resulting from any action, suit or proceeding or threat
thereof, to which he may be made a party by reason of his being involved in the
administration of the Plan, except in relation to matters as to which a
recovery shall be had against him by reason of his having been finally adjudged
in such action, suit or proceeding to have committed a fraudulent act or
omission. The foregoing right to indemnity shall include reimbursement of the
costs and expenses paid in settling any such action, suit or proceeding or
threat thereof when it appears to Aon that the person did not commit a
fraudulent act or omission.

 

2

 

IN
WITNESS WHEREOF, Aon Corporation has adopted this Third Amendment to the 2002
Restatement of the Aon Pension Plan, as of the 15th day of November, 2002.

 

	
   

  	
  AON
  CORPORATION

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
  John
  A. Reschke

  	 

	
   

  	
  Vice
  President

  	 

	
   

  	
  Global
  Employee Benefits

  	 

				

 

3

 

Fourth Amendment to the 

2002 Restatement of Aon Pension Plan

 

WHEREAS,
the Board of Directors of Aon Corporation desires to amend the 2002 Restatement
of Aon Pension Plan (the “Plan”) pursuant to the Board’s authority to do so
under Section 9.02 of the Plan;

 

NOW,
THEREFORE, the following provisions of the Plan are hereby amended, effective
January 1, 2004, except as otherwise indicated:

 

1.        Section 2.13.
Section 2.13 of the Plan shall be amended by adding the following
sentence:

 

“Effective
January 1, 2004, and specifically applicable to
Section 3.07(a) hereunder, a ‘Field Sales Agent’ shall also refer to
a full-time commissioned employee who represents Sterling Life Insurance
Company as an insurance salesperson (and who is under an employment contract with
the Company denominating such employee as an agent, field sales manager,
marketing manager or other comparable title).”

 

2.        Section 2.15.
The existing second sentence shall be deleted and the following substituted in
its place to read as follows:

 

“Effective for
Plan Years beginning January 1, 1997, ‘Highly Compensated Employee’ means
any employee who was a 5-percent owner (as defined in Section 416 (i)) at
any time during the current year or for the preceding year, or had Compensation
in excess of $80,000 and was in the top-paid group for the preceding year.

 

3.        Section 3.02. Section 3.02 of the
Plan shall be amended by adding the following new paragraph (e) to read as
follows:

 

“(e)           Notwithstanding any provision in the Plan
to the contrary, no Employee who begins employment on or after January 1,
2004 shall become a participant hereunder. Any Employee who began employment
before January 1, 2004 but who has not met all of the eligibility
requirements set forth in (a)-(d) above by January 1, 2004
may become a participant, but only if the requirements set forth in
(a)-(d) above are satisfied by January 1, 2005; provided that no
Employee whose participation was

 

2

 

excluded
because of the restrictions of Section 3.07 may participate in the
Plan unless such Employee meets the requirements set forth in
(a)-(d) above by December 31, 2003. Except as provided in
Section 3.07, any Participant who terminates employment with the Employers
after December 31, 2003 and is reemployed by an Employer thereafter
may only resume participation in the Plan if such termination of
employment is less than 31 days.”

 

4.        Section 3.03.
Section 3.03 of the Plan shall be deleted and the following substituted in
its place:

 

“3.03  Termination
of Employment

 

Any Participant
whose employment with the Employers is terminated for any reason whatsoever,
shall cease to be eligible to participate hereunder. Any Participant whose
employment with the Employers is terminated shall, in the event of his later
reemployment as an Employee, again become a Participant on the first day of his
reemployment, provided he meets the requirements of Section 3.02(c),
(d) and (e), unless his prior service is not taken into account under the
rule set forth in Section 2.31(b).”

 

5.              Section 3.07.
Section 3.07 of the Plan shall be deleted and the following substituted in
its place:

 

“3.07       Employment
as Field Sales Agent or with Certain Subsidiaries

 

In
the event an Employee was employed or becomes employed:

 

(a)     as a Field Sales Agent 

 

(b)    by Aon Solutions, Inc.

 

(c)     by Proudfoot Reports
Incorporated

 

(d)    by Aon Human Capital
Resources, LLC

 

(e)              by Aon Consulting, Inc. after
February 1, 2002, and performs services for its Human Resources
Outsourcing Group (‘HROG’)

 

(i)                              Such Employee shall not accrue any
benefits hereunder while employed as described in subsections
(a)-(e) above. However, any Employee described in
subsection (e) who had been an Employee during the 30 day period

 

3

 

ending
January 31, 2002 shall  continue to
accrue benefits (or accrue upon becoming eligible) under the Plan, and if such
employee terminates employment with the HROG but returns to work with the HROG
or the Employer within 30 days, he shall again continue to accrue benefits (or
accrue upon becoming eligible) under the Plan.

 

(ii)                    Compensation paid to such Employee for
services while employed as described by subsections (a) through
(e) of this Section 3.07 shall be disregarded in determining Final Average
Earnings unless 3.07(e)(i) indicated such Employee shall continue to accrue
benefits under the plan.

 

(iii)                 Years of Service while employed as described by subsections
(a) through (e) of this Section .3.07 shall be counted for the
purpose of determining such Employee’s vested or non-forfeitable interest in
such Employee’s Accrued Retirement Income in the event employment terminates
prior to the Employee’s Normal Retirement Date unless 3.07(e)(i) indicated
such Employee shall continue to accrue benefits under the plan.

 

(iv)                Service while employed as described by
subsections (a) through (e) of this Section 3.07 shall in no
event be considered for the purpose of determining an Employee’s Normal
Retirement Benefit under Section 4.01 or Accrued Retirement Income, it
being the express intent that such service shall be counted for the purpose of
determining eligibility to participate hereunder and non-forfeitable percentage
but not for the purpose increasing the amount of benefits to which such
percentage shall apply unless 3.07(e)(i) indicated such Employee shall
continue to accrue benefits under the plan.”

 

6.              Section 3.08    
Section 3.08 shall be deleted in its entirety

 

7.              Section 7.08.   
The second paragraph of Section 7.08 shall be deleted and the following
substituted in its place:

 

“Effective
for Participants who are employed in the U.S. by an Employer and who die after
December 31, 2003, the Surviving Spouse Benefit will be paid to a
‘Qualified Domestic Partner.’ A ‘Qualified Domestic Partner’ is a person of the
same or opposite

 

4

 

sex
of the Participant whose domestic partnership was certified with the Company
meet all of the following requirements: (1) an intimate, committed
relationship of mutual caring; (2) shared principal residence;
(3) agreement to be responsible for the other’s basic living expenses;
(4) both partners are age 18 or older; (5) neither partner is married
to another person or has another domestic partner; (6) neither partner is
related by blood; and (7) neither partner has had a different domestic
partner in the past six months. A copy of any domestic partner certification
shall be filed by the Participant with the Committee, together with any other
information the Committee deems necessary to authenticate a domestic partner
relationship. If such certification shall not be filed with the Committee prior
to the Participant’s death and a domestic partner shall claim survivor
benefits, the Committee shall require that such domestic partner provide
information that the Committee deems necessary to authenticate a domestic
partner relationship existed at the time of the Participant’s death. If a
person is a ‘Qualified Domestic Partner,’ the benefit provided in the fist
paragraph of this Section 7.08 shall be paid as if the person were the
surviving spouse of the Participant.”

 

8.           Section 18.10.
Subsection (c) of Section 18.10 should be amended by adding the
following sentence, effective December 31, 2000, to read as follows:

 

“If any Former ASA Employee had any service under the
ASA Plan during a calendar year which did not result in a Year of Service for
vesting purposes under the elapsed time rules, but such service would
constitute at least 1,000 Hours of Service under the Aon Pension Plan, such
service shall count as a Year of Service for vesting purposes hereunder. If
such Hours of Service cannot be determined, such Former ASA Employee shall be
given credit for working 45 Hours of Service during each week he performed at
least one Hour of Service.”

 

IN
WITNESS WHEREOF, Aon Corporation hereby adopts this Fourth Amendment to the
2002 Restatement of Aon Pension Plan, effective as set forth above, as of this 21 day of November, 2003.

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  VICE PRESIDENT

  

 

5

 

Fifth Amendment to the

2002 Restatement of Aon Pension Plan

 

WHEREAS, the Board of Directors of Aon Corporation
desires to amend the 2002 Restatement of Aon Pension Plan (the “Plan”) pursuant
to the “Board’s authority to do so under Section 9.02 of the Plan;

 

NOW,
THEREFORE, the following provisions of the Plan are hereby amended, effective
January 1, 2004, except as otherwise indicated:

 

1.        Subparagraph
3.02(e) is hereby amended by substituting the following:

 

“(e)                  Notwithstanding any provision in the Plan
to the contrary, no Employee who begins employment on or after January 1,
2004 shall become a participant hereunder. Any Employee who began employment
before January 1, 2004 but who has not met all of the eligibility
requirements set forth in (a)-(d) above by January 1, 2004
may become a participant, but only if the requirements set forth in
(a)-(d) above are satisfied by January 1, 2005; provided that no Employee
whose participation was excluded because of the restrictions of
Section 3.07 may participate in the Plan unless such Employee meets
the requirements set forth in (a)-(d) above by December 31, 2003.
Except as provided in Section 3.07, any Participant who terminates
employment with the Employers after December 31, 2003 and is reemployed by
an Employer thereafter may only resume participation in the Plan if
(1) such termination of employment is less than 32 days; or (2) if
such termination of employment is in excess of 31 days, the participant had
commenced receiving benefits hereunder, and the participants described in
(1) and (2) shall be ineligible to receive Retirement Plan
Contributions under the Aon Savings Plan.”

 

2.          A new
subparagraph 3.02(f) is added to read as follows:

 

“(f)                    If an Employee’s status changes from
employment where he or she is not accruing benefits hereunder to a status where
he or she is accruing benefits hereunder, he or she will not receive credit for
any Earnings or Years of Service under Section 4.01 for benefit accrual
purposes during noncovered employment, but will receive it for covered
employment. If an Employee’s status changes from employment where he or she is
accruing benefits hereunder, he or she will receive credit for any Earnings or
Years of Service under Section 4.01 for benefit accrual purposes during
covered employment, but not for uncovered employment.”

 

 

IN
WITNESS WHEREOF, Aon Corporation has adopted this Fifth Amendment to the 2002
Restatement of Aon Pension Plan, effective as set forth above.

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  VICE PRESIDENT

  

 

2

 

Sixth Amendment to the 2002

 

Restatement of Aon Pension Plan

 

WHEREAS, the Aon Pension Plan (the “Plan”) is
currently set out in the 2002 Restatement of the Aon Pension Plan, which was
generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the Board of Directors of Aon Corporation
desires to amend the Plan pursuant to the Board’s authority to do so under
Section 9.01 of the Plan.

 

NOW, THEREFORE, the Plan, as set out in the
Restatement, is amended as follows, effective as of January 1,2004, or as
otherwise specified:

 

Section 2.02. Subsection (b)(ii) of Section 2.02
shall be deleted and the following substituted in its place:

 

(ii) bonuses paid pursuant to periodic individual
performance appraisals and formal contractual bonus programs (including the
value of restricted stock units or stock awards as may be granted by the
Company in substitution for a portion of such bonuses, calculated as if the
value of the units or awards were equal to the cash portion of the bonus
foregone), but excluding other bonus and miscellaneous income;

 

Section 5.03. A new subsection (f) of
Section 5.03 shall be added to read as follows:

 

(f)   The Accrued Retirement Income of Participants
defined as “Transitioned Employees” under the Information Technology Services
Agreement by and between Aon Service Corporation and Computer Sciences
Corporation Effective as of July 21, 2004, shall be 100% vested as of the
date of termination of employment of each such Participant from the Company.

 

Section 7.15
shall be deleted and the following substituted in its place:

 

Section 7.15
Election and Notice

 

(a)      Election. A Participant
may elect a method of payment during the 90-day period ending on his
Annuity Starting Date. Any election made during the election period shall be
revocable, and another such election may be made at any time

 

 

before
the close of the election period, at which time the most recent such election
made shall be irrevocable. Any election or revocation shall be made by written
notice to the Committee on a form provided by the Committee.

 

(b)      Notice.
Consistent with regulations prescribed by the Secretary of the Treasury and no
less than 30 days and no more than 90 days before his Annuity Starting Date, a
written explanation shall be mailed or personally delivered to a Participant
describing the joint and one-half survivor annuity with his Spouse as
Beneficiary and the circumstances under which it shall be provided unless the
Participant elects another method of payment, the availability of such
election, a general explanation of the financial effect of such election, and a
statement of the rights of the Participant’s Spouse. It also shall notify the
Participant that he may make a written request at any time during the
election period for an additional written explanation of the terms and
conditions of such joint and one-half survivor annuity and the financial effect
of payment in some other method.

 

Notwithstanding the
foregoing, the written explanation may be provided after the Participant’s
or Inactive Participant’s Annuity Starting Date; provided, that the election
period shall not end for 30 days following the date the explanation is
provided. With any applicable Spouse consent, a Participant may waive such
30-day requirement; provided, that the distribution begins more than seven days
after the election is made.

 

Section 18.10(e) shall be deleted and the
following substituted in its place:

 

(e)      Interest
Crediting Rate. With respect to the Cash Balance Plan Account existing on
December 31, 2000, interest shall be credited at an effective annual rate
of six (6%) from January 1, 2001 to December 31, 2001, and credited
at an effective annual rate of 4% thereafter.”

 

2

 

IN WITNESS WHEREOF, Aon
Corporation has adopted the Sixth Amendment to the 2002 Restatement of the Aon
Pension Plan, effective as set forth above.

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
  John A. Reschke 

  
	
   

  	
  Vice  President, Benefits

  

 

 

Seventh Amendment
to Aon Pension Plan

As Amended and Restated Effective January 1, 2002

 

WHEREAS, the Aon Pension Plan (the “Plan”) is
currently set out in the 2002 Restatement of the Aon Pension Plan, which was
generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the Board of Directors of Aon Corporation
desires to amend the Plan pursuant to the Board’s authority to do so under
Section 9.01 of the Plan.

 

NOW, THEREFORE, the Plan, as set out in the
Restatement, is amended as follows, effective as of November 1, 2005, or
as otherwise specified herein:

 

Section 3.07. A new subsection (v) of Section 3.07
shall be added, effective January 1, 2006, to read as follows:

 

(v)      Notwithstanding anything to the contrary
set forth in subsections (i) through (iv) above, if (a) an
Employee becomes employed by Aon Consulting, Inc. on or after
February 1, 2002 in any group other than its Human Resources Outsourcing
Group (“HROG”), (b) such Employee is subsequently transferred to the HROG,
and (c) such Employee is then subsequently transferred out of the HROG to
any staff position with the Company or any of its affiliates, the following
rules shall apply:

 

(A)                          Such Employee shall not accrue any
retirement benefit hereunder while employed as described in subsections
(a) through (e) of this Section 3.07;

 

(B)                            Compensation paid to such Employee for
services while employed as described by subsections (a) through (e) of
this Section 3.07 shall be disregarded in determining Final Average
Earnings.

 

(C)                            Years of Service while employed as
described by subsections (a) through (e) of this Section 3.07
shall be counted for the purpose of determining such Employee’s vested or
non-forfeitable interest in such Employee’s Accrued Retirement Income in the
event employment terminates prior to the Employee’s Normal Retirement Date.

 

(D)                           Service while employed as described by
subsections (a) through (e) of this Section 3.07 shall in no
event be considered for the purpose of determining an Employee’s Normal
Retirement Benefit under Section 4.01 or Accrued Retirement Income, it
being the express intent that such service shall be counted for the purpose of
determining eligibility to participate hereunder and non-forfeitable percentage
but not for the purpose of increasing the amount of benefits to which such
percentage shall apply.

 

 

Section 5.03. A new subsection (g) of Section 5.03
shall be added to read as follows:

 

(g)          The Accrued Retirement Income of
Participants whose employment with the Company or any of its subsidiaries shall
terminate pursuant to Section 8.2(a) of the Purchase Agreement among
Minet Holdings, Inc., CJP, Inc., Aon Services Group, Inc., Aon
Corporation, Swett & Crawford and HMSC Holdings Corp., dated as of
November 15, 2005, shall be 100% vested as of the date of such termination
of employment.

 

IN
WITNESS WHEREOF, Aon Corporation has adopted this Seventh Amendment to the 2002
Restatement of the Aon Pension Plan, effective as set forth above.

 

	
   

  	
  Aon Corporation By:

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John A. Reschke

  
	
   

  	
  John A. Reschke

  
	
   

  	
  Vice President,
  Employee Benefits

  

 

2

 

Eighth Amendment
to Aon Pension Plan

As Amended and Restated Effective January 1, 2002

 

WHEREAS, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of the Aon
Pension Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the 9.01 of the
Plan allows the Board of Directors of Aon Corporation to amend the Plan, and
the Board has delegated to the undersigned officers of Aon Corporation the
authority to make certain amendments to the Plan.

 

WHEREAS, the undersigned
officers desire to amend the Plan to allow participants with the actuarial
value of accrued benefits greater than $5,000 but less than $10,000 to elect an
early distribution of such benefits.

 

NOW, THEREFORE, the Plan, as
set out in the Restatement, is amended as follows, effective as of January 1,
2006:

 

A new Section 7.18 shall be added to the Plan
as follows:

 

7.18     Early Distribution of Benefits

 

Notwithstanding anything to
the contrary set forth in this Article 7, in the event the actuarial
equivalent of any monthly benefit pursuant to any of the provisions of this
Plan expressed as a single sum is greater than $5,000 but less than $10,000 as
of a date, or dates, in 2006 as determined by the Committee, the Committee
shall allow a Participant whose employment terminated at any time on or prior
to December 31, 2005 and whose retirement benefit has not already
commenced under the Plan to elect the early distribution of such benefits in
accordance with this Section 7.18. At the Participant’s election no later
than November 15, 2006 and, if applicable, with the requisite written
consent of the Participant’s legal spouse pursuant to Section 7.06 herein,
the Committee shall direct the Trustee to commence the distribution of such
monthly benefit in the form of a single sum of such actuarial equivalent.

 

A Participant who elects an
early distribution of benefits under this Section 7.18 and who is under
age 55 at the date the single sum is to be paid, is entitled to elect either a
straight life annuity or a reduced 50% Qualified Joint and Survivor Annuity, or
such other Normal Form of Payment as may be required under Section 18,
in lieu of the single sum payment. For this purpose, the Participant’s vested
retirement benefit shall be reduced for early commencement according to Section 5.04,
and further actuarially reduced, pursuant to Section 14.10, from age 55 to
the date of payment.

 

 

IN WITNESS WHEREOF, Aon Corporation has adopted this
Eighth Amendment to the 2002 Restatement of the Aon Pension Plan, effective as
set forth above.

 

 

	
   

  	
  Aon
  Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeremy G.O. Farmer

  
	
   

  	
  Jeremy
  G.O. Farmer

  
	
   

  	
  Senior
  Vice President, Head of Human Resources

  

 

 

	
   

  	
  /s/
  David P. Bolger

  
	
   

  	
  David
  P. Bolger

  
	
   

  	
  Executive
  Vice President, Chief Financial Officer

  
	
   

  	
  and
  Chief Administrative Officer

  

 

2

 

Ninth Amendment to Aon
Pension Plan

As Amended and Restated
Effective January 1, 2002

 

WHEREAS, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of the Aon
Pension Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the Board of
Directors of Aon Corporation desires to amend the Plan pursuant to the Board’s
authority to do so under Section 9.01 of the Plan.

 

NOW, THEREFORE, the Plan, as
set out in the Restatement, is amended as follows, effective as of January 1,
2006:

 

Section 9.02. The first paragraph of Section 9.02
shall be revised to read as follows:

 

“Except as herein limited,
the Company, by action of the Board or by action of any person or entity
authorized by the Board, shall have the right to amend this Plan at any time.
Such amendment shall be stated in an instrument in writing. This Agreement
shall then be deemed to have been amended in the manner set forth, provided,
however, except as may be required to maintain this Plan as a qualified Plan
under the IRC:”

 

IN WITNESS WHEREOF, Aon Corporation has adopted this
Ninth Amendment to the 2002 Restatement of the Aon Pension Plan, effective as
set forth above.

 

	
   

  	
  Aon
  Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  John
  A. Reschke

  
	
   

  	
  Its:

  	
  VICE
  PRESIDENT, Employee Benefits

  

 

 

Ninth Amendment to Aon
Pension Plan

As Amended and Restated Effective January 1, 2002

 

WHEREAS, the Aon Pension
Plan (the “Plan”) is currently set out in the 2002 Restatement of the Aon
Pension Plan, which was generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, the Board of
Directors of Aon Corporation desires to amend the Plan pursuant to the
authority to do so under Section 9.01 of the Plan.

 

NOW, THEREFORE, the Plan, as
set out in the Restatement and as amended from time to time, is further amended
as follows:

 

1.              Section 2.01. By substituting for Section 2.01
a new Section 2.01, effective as of January 1, 2007, to read as
follows:

 

“Accrued Retirement Income” shall mean the monthly amount determined in
accordance with Section 4.01 of the Plan, but based on Years of Service,
Final Average Earnings and Annual Earnings, if applicable, as of any date
before the Participant’s Normal Retirement Date; provided, however,
that the Accrued Retirement Income of a Participant shall not be less than the
Minimum Accrued Benefit determined in accordance with Section 4.03.

 

2.              Section 2.02. By substituting for the last
sentence of Section 2.02 a new sentence, effective as of December 31,
2006, to read as follows:

 

With respect to such Participant who has at least one Hour of Service
on or after January 1, 2002, for purposes of determining Final Average
Earnings under Section 4.01(A) (but not for purposes of determining
Final Average Earnings at December 31, 1997), the maximum amount permitted
pursuant to IRC Section 401(a)(17) shall be considered to be $200,000 for
calendar years beginning prior to January 1, 2002.

 

3.              Section 2.14. By substituting for the first
paragraph of Section 2.14 a new paragraph, effective as of December 31,
2006, to read as follows:

 

“Final Average Earnings” shall mean the average of the Participant’s
Annual Earnings paid to him by the Employers for service during the highest
five consecutive calendar years of the last ten calendar years of Employment
immediately preceding the earlier of (i) his retirement date or his
Termination Date, or (ii) January 1, 2007; provided, however, that if
he was not an Employee during any five consecutive calendar years during such
period, his Final Average Earnings shall be the average of his Annual Earnings
during the five calendar years (or lesser period if he was not an Employee for
such five calendar years) immediately preceding the earlier of (i) the
calendar year he was last an Employee or (ii) January 1, 2007.

 

4.              Section 2.16. A new sentence shall be added
at the end of Section 2.16, effective as of January 1, 2006, to read
as follows:

 

1

 

In order to clarify the usage of the 45 Hours of Service equivalency
described above and consistent with past administrative practice and procedure
under the Plan, payroll and other Company records reflect the actual number of
hours worked by an Employee, and accordingly the 45 Hours of Service
equivalency shall not apply, where such records reflect the actual number of
hours for which the Employee is directly or indirectly paid or entitled to
payment.

 

5.             Section 2.19. By substituting for Section 2.19 a new
Section 2.19, effective as of January 1, 2006, to read as follows:

 

“Covered Compensation” shall mean the average of the Taxable Wage
Bases (as defined pursuant to Section 3121(a)(1) of the IRC) for the
35 calendar years ending with the last day of the year in which a Participant
attains Social Security Retirement Age (as defined at Section 13.05(n)),
and assuming for any particular Plan Year that the Taxable Wage Base on January 1st
will remain the same for all future years.

 

6.             Section 2.31. A
new subsection (i) of Section 2.31 shall be added, effective as of January 1,
2006, to read as follows:

 

(i)           Participants whose employment with the
Company or any of its subsidiaries
shall terminate pursuant to Section 7.1 of the Renewal Rights and Asset
Purchase Agreement between Muirfield Underwriters, Ltd., a Delaware
corporation, and AmTrust North America, Inc., a Delaware corporation,
dated as of May 9, 2006, shall be credited with a Year of Service for the
period commencing January 1, 2006 and ending on the date of such
termination of employment regardless of whether they complete 1,000 Hours of
Service during such period.

 

7.             Section 4.01. By substituting for Section 4.01
a new Section 4.01, effective as of December 31, 2006, to read as
follows:

 

4.01         Normal Retirement Benefit

 

Subject to Section 4.01(C), each Participant who is employed in
the service of the Employer on his Normal Retirement Date and who retires on or
after his Normal Retirement Date shall be entitled to receive a monthly Normal
Retirement Benefit beginning on the first day of the month following his actual
retirement and continuing for his life, equal to one-twelfth of the sum of the
amounts determined under Sections 4.01(A) and 4.01(B) below.

 

(A)          Benefit Accrual
For Years of Service Completed As Of December 31, 2006.

 

No Participant shall accrue any benefit under this Section 4.01(A) with
respect to Years of Service completed after December 31, 2006 or with
respect to Annual Earnings earned during the Participant’s Employment after December 31,
2006. A Participant’s accrued benefit under this Section 4.01(A) shall
be the sum of (a) through (e) below:

 

2

 

(a)                                  1.15% of the Participant’s Final Average
Earnings multiplied by his or her Years of Service on and after January 1,
1998 and completed on or before December 31, 2006.

 

(b)                                 0.45% of the Participant’s Final Average
Earnings in excess of Covered Compensation (as defined in Section 2.19) at
December 31, 2006, multiplied by the lesser of: (i) his or her Years
of Service on and after January 1, 1998 and completed on or before December 31,
2006; or (ii) 35 years, less Years of Service as of December 31,
1997.

 

(c)                                  the accrued retirement income of a
Participant as of December 31, 1997, under the terms of the Aon Pension
Plan.

 

(i)                             in the case of a Participant who is employed
by an Employer on December 31, 1997, and is accruing a benefit under the
Aon Pension Plan on that date, the amount described in (c) shall be
multiplied by the greater of: (A) 1; or (B) a fraction, the numerator
of which is Final Average Earnings at date of termination of employment or December 31,
2006, whichever is earlier, and the denominator of which is Final Average
Earnings at December 31, 1997.

 

(d)                               the accrued retirement income of a
Participant as of December 31, 1997, under the terms of the Pension Plan
for Employees of Alexander & Alexander Services Inc. and Subsidiaries
(the “A&A Plan”).

 

(i)                              in the case of a Participant who is employed
by an Employer on December 31, 1997, and is accruing a benefit under the
A&A Plan on that date, the amount described in (d) shall be multiplied
by the greater of: (A) 1; or (B) a fraction, the numerator of which
is Final Average Earnings (as defined under the Aon Pension Plan) at date of
termination of employment or December 31, 2006, whichever is earlier, and
the denominator of which is Final Average Earnings (as defined under the Aon
Pension Plan) at December 31, 1997.

 

(e)                                the accrued retirement income of a
Participant as of December 31, 2001, under the terms of the International
Risk Management (Americas) Inc. Retirement Plan (the “IRMG Plan”).

 

(i)                             in the case of a Participant who is employed
by an Employer on December 31, 2001, and is accruing a benefit under the
IRMG Plan on that date, the amount described in (e) shall be multiplied by
the greater of: (A) 1; or (B) a fraction, the numerator of which is
Final Average Earnings (as defined

 

3

 

under the Aon Pension Plan) at date of termination
of employment or December 31, 2006, whichever is earlier, and the
denominator of which is the Final Average Earnings (as defined under the Aon
Pension Plan) at December 31, 2001.

 

(B)           Benefit Accrual
For Years of Service Completed After December 31, 2006.

 

A Participant’s accrued
benefit under this Section 4.01(B) shall be the aggregate amount
equal to the sum for all Years of Service completed after December 31,
2006, of the amounts determined under (a) and (b) below with respect
to each Year of Service completed after December 31, 2006:

 

(a)                                1.15% of the Participant’s Annual Earnings
for each Year of Service completed after December 31, 2006; plus

 

(b)                               0.45% of the Participant’s Annual Earnings
for each such Year of Service in excess of Covered Compensation (as defined in Section 2.19);
provided however, that no such excess shall be recognized for any Year of
Service following the year in which the total number of the Participant’s Years
of Service completed after December 31, 2006, plus the total number (if
any) of his or her Years of Service completed as of December 31, 2006
equals 35.

 

For
purposes of clause (b) above, in any year, if termination of employment
occurs before the fifteenth of a month, Covered Compensation shall be
multiplied by a fraction, the numerator of which is the number of full calendar
months of service completed by the Participant in the year of termination of
employment and the denominator of which is 12. If termination of employment
occurs on or after the fifteenth of a month, Covered Compensation shall be
multiplied by a fraction, the numerator of which is the number of full calendar
months of service completed by the Participant in the year of termination of
employment plus one and the denominator of which is 12.

 

(C)                              Special Provision for Participants Who Have
Attained Their Normal Retirement Date as of December 31, 2006.

 

In the event that a Participant attains his Normal
Retirement Date on or before December 31, 2006, his Normal Retirement
Benefit under the Plan shall not be less than that determined under the
provisions of the Plan as in effect immediately preceding December 31,
2006.

 

8.             Section 5.03.
New subsections (h) and (i) of Section 5.03 shall be added, effective
as of January 1, 2006, to read as follows:

 

(h)                                 The Accrued Retirement Income of Participants
whose employment with the
Company or any of its subsidiaries shall terminate pursuant to Section 7.1
of the Renewal Rights and Asset Purchase Agreement between Muirfield
Underwriters, Ltd., a

 

4

 

Delaware corporation, and AmTrust North America, Inc., a Delaware
corporation, dated as of May 9, 2006, shall be 100% vested as of the date
of such termination of employment.

 

(i)            The Accrued Retirement Income of Participants whose employment
with the Company or any of its subsidiaries shall terminate pursuant to Section 8.2
of the Purchase Agreement Between Aon Corporation, a Delaware corporation, and
Warrior Acquisition Corp., a Delaware corporation, dated as of June 30,
2006, shall be 100% vested as of the date of such termination of employment.

 

9.             Section 5.04. By substituting for the
reference to “Section 4.01(c)” in clause (d) of the first sentence of
Section 5.04 a new reference to “Section 4.01,” effective as of December 31,
2006.

 

10.           Section 7.09. By substituting for the first
sentence of Section 7.09 a new sentence, effective as of January 1,
2006, to read as follows:

 

In the event the actuarial
equivalent of any monthly benefit pursuant to any of the provisions of this
Plan expressed as a single sum is $5,000 or less, the Committee shall direct
the Trustee, following termination of the Participant’s employment and as soon
as administratively feasible thereafter, to pay to the person entitled to such
monthly benefit, in a single sum, the amount of such actuarial equivalent.

 

11.           Section 18.01. A new sentence shall be added
at the end of Section 18.01, effective December 31, 2006, to read as
follows:

 

References
in this Section 18 to Section 4.01 of the Plan or to any subsection
of Section 4.01 of the Plan shall mean and refer to such Section, and
subsections thereof, as in effect immediately prior to January 1, 1998,
except as otherwise clearly indicated from the text.

 

12.           Section 18.11. By substituting for the
reference to “Section 4.01(e)” in subsection (f) of Section 18.11
a new reference to “clause (e) of the second sentence of Section 4.01(A),”
effective as of December 31, 2006.

 

5

 

IN WITNESS WHEREOF, Aon Corporation has adopted this
Ninth Amendment to the 2002 Restatement of the Aon Pension Plan, effective as
set forth above.

 

 

	
   

  	
  Aon
  Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Jeremy
  G.O. Farmer

  
	
   

  	
  Senior
  Vice President, Head of Human

  
	
   

  	
  Resources

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  David
  P. Bolger

  
	
   

  	
  Executive
  Vice President, Chief Financial

  
	
   

  	
  Officer
  and Chief Administrative Officer

  

 

6

 

 

Tenth Amendment to
Aon Pension Plan

As Amended and Restated Effective
January 1, 2002

 

WHEREAS, the Aon Pension Plan (the “Plan”) is currently
set out in the 2002 Restatement of the Aon Pension Plan, which was
generally effective as of January 1, 2002 (the “Restatement”).

 

WHEREAS, Aon Corporation desires to amend the Plan
pursuant to the authority to do so under Section 9.01 of the Plan.

 

NOW,
THEREFORE, the Plan, as set out in the Restatement and as amended from time to time, is further amended as follows,
effective as of January 1, 2006, unless otherwise specified below:

 

Section 2.31.
A new subsection (i) of Section 2.31 shall be added to read as follows:

 

(i)                                    Participants
whose employment with the Company or any of its subsidiaries shall terminate
pursuant to Section 7.1 of the Renewal Rights and Asset Purchase Agreement
between Muirfield Underwriters, Ltd., a Delaware corporation, and AmTrust North America, Inc., a Delaware
corporation, dated as of May 9, 2006, shall be credited with a Year
of Service for the period commencing January 1, 2006 and ending on the
date of such termination of employment.

 

Section 5.03.
New subsections (h) and (i) of Section 5.03 shall be added to
read as follows:

 

(h)                                The
Accrued Retirement Income of Participants whose employment with the Company or any of its subsidiaries shall
terminate pursuant to Section 7.1 of the Renewal Rights and Asset Purchase
Agreement between Muirfield Underwriters, Ltd., a Delaware corporation,
and AmTrust North America, Inc., a Delaware corporation, dated as of May 9, 2006, shall be 100% vested as of
the date of such termination of employment.

 

(i)                                    The
Accrued Retirement Income of Participants whose employment with the Company or any of its subsidiaries shall
terminate pursuant to Section 8.2 of the Purchase Agreement Between
Aon Corporation, a Delaware corporation, and Warrior Acquisition Corp., a
Delaware corporation, dated as of June 30, 2006, shall be 100% vested as
of the date of such termination of employment.

 

1

 

IN WITNESS WHEREOF, Aon Corporation has adopted this
Tenth Amendment to the 2002 Restatement of the Aon Pension Plan,
effective as set forth above.

 

2

 

 

IN WITNESS WHEREOF, Aon
Corporation has adopted the 2002 Restatement of the Aon Pension Plan.

 

 

	
   

  	
  AON CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Reschke

  
	
   

  	
  John Reschke 

  
	
   

  	
  Vice President

  
	
   

  	
   

  
	
  November 16, 2001Exhibit 10.43

 

	
  DEFERRED
  COMPENSATION AGREEMENT

  
	
   

  
	
  BETWEEN

  
	
   

  
	
  COMBINED
  INSURANCE COMPANY OF AMERICA

  
	
   

  
	
  AND

  
	
   

  
	
  RICHARD M.
  RAVIN

  

 

This Deferred Compensation Agreement (Agreement) entered into this 31st
day of December, 1980 by and between Combined Insurance Company of America, an
Illinois insurance corporation located at 5050 BROADWAY, CHICAGO, ILLINOIS
(Combined), and Richard M. Ravin, who is employed by Combined as Vice-President
Divisional Manager, New Diamond Division of Combined, residing at 3136 Hemlock
Lane, Northbrook, Illinois  60062
(Employee),

 

WITNESSETH:

 

WHEREAS, the Employee desires to defer any
bonus(es) he may become eligible for during the year 1981 (other than Combined’s
Christmas bonus), and

 

WHEREAS, Combined is agreeable to such
deferral.

 

NOW THEREFORE, in consideration of the Employee’s future services for
Combined and other good and valuable consideration, Combined and the Employee
do hereby agree as follows:

 

1.     Amount Deferred.  Subject to the limitation herinafter set
forth in this paragraph, the Employee hereby agrees to defer receiving from
Combined any bonus(es) (other than Combined’s usual Christmas bonus) in the
amount of $2,000 or more which may become payable to the Employee during the
period from the date of this agreement to December 31, 1981.  The amount deferred hereunder shall not
exceed 20% of the Employee’s aggregate compensation paid to him during the year
ending on December 31, 1981 or $25,000, whichever limitation is reached
first. In the event that the Employee becomes entitled to receive a bonus(es)
in excess of such limitation, Combined shall release for payment to the
Employee the excess portion of such bonus(es). The amount deferred under this
Agreement, together with interest credited in accordance with paragraph 2 of
this Agreement, is hereinafter referred to as the “proceeds.”

 

2.              Interest.

 

a.          During the
Accumulation Period.        As of December 31,
1981, interest shall be credited with respect to the amount deferred under this
Agreement for the number of full calendar months remaining in the Accumulation
Period after the date(s) on which the bonus(es) becomes payable at the
higher of an annual rate of 6% or an annual rate determined by averaging the
prime interest rate in effect at the First National Bank of Chicago on the last
day of each calendar month of the Accumulation Period.

 

b.         After the Accumulation
Period.           Commencing of January 1,
1982, the proceeds of this Agreement shall bear interst compounded semiannually
at the higher of an annual rate of 6% or an annual rate determined as of July 1
and January 1 of each year by averaging, respectively, the prime interest
rate in effect at the First National Bank of Chicago on the last day of each of
the six months immediately prior thereto.

 

 

 

3.              Payment of
Proceeds. The proceeds payable to the Employee personally shall be paid in
a lump sum.

 

The date of
payment of the proceeds shall be the first to occur of the following:

 

a.    January 1, 1987; (or upon termination of employment with Combined if
later;) or

 

b.   30 days following the death of
the Employee.

 

Notwithstanding anything herein
contained to the contrary, the Executive Committee of the Board of Directors of
Combined shall have the right in its sole discretion to alter the manner of
payment or accelerate the date of payment.

 

4.              Beneficiary.
The proceeds of this Agreement payable on the death of the Employee or unpaid
at the death of the Employee shall be paid in a lump sum to the beneficiary
designated in writing by the Employee, provided such designation has been filed
with Combined prior to the death of the Employee.  If no beneficiary is so designated, payment
will be made to the employee’s estate. The Employee may change the designated
beneficiary of this Agreement by filing with Combined notice of such change.

 

5.              Miscellaneous.

 

a        Nothing contained in this
Agreement shall be construed as conferring upon the Employee the right to
continue in the employ of Combined as an executive or in any other capacity.

 

b.    The proceeds of this Agreement
are to be paid from general corporate funds.

 

c.     right to receive payment
hereunder is personal, nonassignable and nontransferrable.

 

d.    This Agreement shall be
construed in accordance with and governed by the laws of the State of Illinois.

 

IN WITNESS WHEREOF, the parties on the date
first above written have executed this Agreement.

 

COMBINED INSURANCE COMPANY OF AMERICA

 

 

	
  ATTEST:

  	
   

  
	
   

  	
   

  
	
   

  	
  By 

  	
  /s/ ILLEGIBLE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ ILLEGIBLE

  	
   

  	
   

  	
   

  
	
   

  	
  Assistant Secretary

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Richard M. Ravin

  
	
   

  	
   

  	
  Richard M. Ravin

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]