Document:

Executive Retirement Plan effective January 29, 2004

 Exhibit 10.33 
  

 MEADWESTVACO CORPORATION 
  

 MEADWESTVACO CORPORATION EXECUTIVE
RETIREMENT PLAN 
  

 Amended and Restated 
 Effective January 29, 2004 
  

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1. INTRODUCTION
	  	1
	 1.01.
	  	History of the Plan	  	1
	 1.02.
	  	Purposes of the Plan	  	1
	 1.03.
	  	American Jobs Creation Act of 2004	  	1
	 1.04.
	  	Appendices	  	2
	 1.05.
	  	Effective Date	  	2
		
	 ARTICLE 2. DEFINITIONS AND CONSTRUCTION
	  	3
	 2.01.
	  	Definitions	  	3
	 2.02.
	  	Construction	  	6
		
	 ARTICLE 3. PARTICIPATION
	  	7
	 3.01.
	  	Active Participation	  	7
	 3.02.
	  	Inactive Participation	  	7
		
	 ARTICLE 4. AMOUNT AND PAYMENT OF
BENEFITS
	  	8
	 4.01.
	  	Amount of Benefits	  	8
	 4.02.
	  	Normal and Early Retirement	  	8
	 4.03.
	  	Pre-2004 Participants	  	9
	 4.04.
	  	Timing and Form of Benefit Payments to Participant	  	11
	 4.05.
	  	Disability	  	12
	 4.06.
	  	Pre-Retirement Death Benefits	  	13
		
	 ARTICLE 5. VESTING, NON-COMPETITION AND
CHANGE OF CONTROL
	  	15
	 5.01.
	  	Vesting	  	15
	 5.02.
	  	Forfeiture	  	15
	 5.03.
	  	Change of Control	  	16
		
	 ARTICLE 6. PLAN ADMINISTRATION
	  	21
	 6.01.
	  	Plan Administrator	  	21
	 6.02.
	  	Incorporation of Certain Provisions of ERISA	  	21
	 6.03.
	  	Interpretations	  	21
	 6.04.
	  	Elections and Designations	  	21
	 6.05.
	  	Funding Policy	  	21
		
	 ARTICLE 7. AMENDMENT, MERGER, AND TERMINATION
OF PLAN
	  	23
	 7.01.
	  	Amendment of the Plan	  	23
	 7.02.
	  	Termination of the Plan	  	23
	 7.03.
	  	Design Decisions	  	23
		
	 ARTICLE 8. MISCELLANEOUS PROVISIONS
	  	24
	 8.01.
	  	Employment Rights Not Affected by Plan	  	24
	 8.02.
	  	Integration Clause	  	24
	 8.03.
	  	Liability Limited	  	24

  

 i 

					
	 8.04.
	  	Overpayments	  	24
	 8.05.
	  	Incapacity and Minor Status	  	24
	 8.06.
	  	Assignment and Liens	  	24
	 8.07.
	  	Withholding Taxes	  	25
	 8.08.
	  	Titles and Headings Not to Control	  	25
	 8.09.
	  	Governing Law and Limitation on Actions	  	25
	 8.10.
	  	Class Action Forum Selection Clause	  	25
	 8.11.
	  	Severability	  	26
	 8.12.
	  	Complete Statement of Plan	  	26

  

			
	 Appendix A.
	 	PARTICIPANTS WHO PARTICIPATED IN THE PRE-2004 PLAN BUT
DID NOT ACCRUE PRE-AJCA BENEFITS
		
	 Appendix B.
	 	PARTICIPANTS WHO BECAME ACTIVE PARTICIPANTS ON JANUARY 29, 2004
WITH PAST SERVICE CREDITS
		
	 Appendix C.
	 	NONQUALIFIED DEFERRED COMPENSATION PLANS WHOSE BENEFITS OFFSET BENEFITS
UNDER THIS PLAN
		
	 Appendix D.
	 	PROVISIONS FOR PARTICIPANTS WITH PRE-AJCA BENEFITS
		
	 Appendix E.
	 	TERMS OF THE PRE-2004 PLAN

  

 ii 

 ARTICLE 1. INTRODUCTION 
  

	1.01. 	HISTORY OF THE PLAN 

  

	(a)	The Mead Corporation and Westvaco Corporation became wholly owned subsidiaries of MW Holding Corporation, the name of which was subsequently changed to MeadWestvaco Corporation,
effective January 29, 2002. In connection with this event, MeadWestvaco Corporation (the “Company”) assumed sponsorship of the benefit plans maintained by the Mead Corporation and Westvaco Corporation. 

  

	(b)	Prior to the events described in Section 1.01(a) above, the Mead Corporation sponsored a supplemental executive retirement plan for its eligible employees and the eligible
employees of certain of its subsidiaries, known as the Mead Corporation Supplemental Executive Retirement Plan (the “Mead SERP”). 

  

	(c)	The Board of Directors of the Company adopted resolutions in 2004 providing for participation by certain senior executives of the Company and its affiliates in a supplemental
executive retirement plan having terms approved by the Compensation and Organizational Development Committee of the Board of Directors. The Board of Directors further authorized certain officers of the Company, including the Chief Executive Officer,
to take all actions deemed by such officers to be necessary or appropriate to effectuate the resolutions. The Mead SERP has been amended and restated in accordance with these resolutions and has been renamed as the MeadWestvaco Corporation Executive
Retirement Plan (the “Plan”). 

  

	1.02. 	PURPOSES OF THE PLAN 

  

	(a)	The purposes of the Plan are to attract mid-career senior executive hires, retain talented senior executives, and provide recognition to long-service senior executives by providing
them with competitive supplementary retirement income, in addition to that provided under the Company’s tax-qualified and other non-qualified defined benefit plans. 

  

	(b)	The Plan is intended to be and shall be operated and administered as a plan primarily providing deferred compensation to a “select group of management or highly compensated
employees” within the meaning of Sections 201(2), 301(a)(3), or 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and shall not be subject to the participation and vesting requirements, funding
provisions, or the fiduciary duty rules of ERISA (except as provided in Section 6.02). 

  

	1.03. 	AMERICAN JOBS CREATION ACT OF 2004 

  

	(a)	All benefits under the Plan other than Pre-AJCA Benefits (as defined in Section 2.01(x), below) shall be subject to Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”). Except with respect to Pre-AJCA Benefits: (1) the Plan shall comply with the requirements of, and shall be operated, administered, and interpreted in accordance with, a good faith interpretation of
Section 409A of the Code and Section 885 of the American Jobs Creation Act of 2004 (the “AJCA”); and (2) if any provision of the Plan is inconsistent with the restrictions imposed by Section 409A or the AJCA, that
provision shall be deemed to be amended to the extent that the Company determines is necessary to bring it into compliance with Section 409A and the AJCA. 

	(b)	With respect to Pre-AJCA Benefits, the special provisions set forth in Appendix D shall apply. The benefits under the Plan for any Participant who has a Pre-AJCA Benefit shall be
determined in accordance with Appendix D. 

  

	1.04. 	APPENDICES 

 The Plan includes the following
Appendices: 
  

	(a)	Appendix A lists Participants without Pre-AJCA Benefits (as defined in Section 2.01(x)) who participated in the version of the Plan that was in effect before January 29,
2004, their service as of December 31, 2004 (“Years of Appendix A Service”), and the amount of their Grandfathered Benefits (as defined in Section 2.01(o) and Grandfathered CIC Benefits (as defined in Section 2.01(p)).

  

	(b)	Appendix B lists past-service credits for certain individuals who became Participants in the Plan on January 29, 2004. 

  

	(c)	Appendix C lists the nonqualified deferred compensation plans whose benefits offset benefits under this Plan. 

  

	(d)	Appendix D sets forth special rules for Participants who have Pre-AJCA Benefits (as defined in Section 2.01(x)). 

  

	(e)	Appendix E sets forth the terms of the Plan that were in effect on January 28, 2004 (the “Pre-2004 Plan”). 

  

	1.05. 	EFFECTIVE DATE 

 The effective date of
this restatement of the Plan is January 29, 2004. 
  

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 ARTICLE 2. DEFINITIONS AND CONSTRUCTION 
  

	2.01. 	DEFINITIONS 

 For purposes of the Plan, unless the
context clearly or necessarily indicates the contrary, the following words and phrases shall have the meaning set forth in the definitions below: 
  

	(a)	“Affiliate” shall mean the Company and any corporation which is a member of a controlled group of corporations (as defined in Section 414(b) of the Code) that
includes the Company; any trade or business (whether or not incorporated) which is under common control (as defined in Section 414(c) of the Code) with the Company; any organization (whether or not incorporated) which is a member of an
affiliated service group (as defined in Section 414(m) of the Code) that includes the Company; and any other entity required to be aggregated with the Company pursuant to the regulations under Section 414(o) of the Code. The term
“Affiliate” shall also include any entity that would be included among the entities described in the first sentence of this Section 2.01(a) but for the fact that the Company’s interest in such entity is limited to 50 percent, and
for purposes of Section 2.01(ii), the term “Affiliate” shall include any entity that would have been an Affiliate of the Mead Corporation or Westvaco Corporation if such corporation were substituted for “Company” in the
first sentence of this Section 2.01(a). 

  

	(b)	“AJCA” shall mean the American Jobs Creation Act of 2004, Pub. L. No. 108-357 (Oct. 22, 2004). 

  

	(c)	“All-MERP Benefit” shall have the meaning set forth in Section 4.03(b)(1). 

  

	(d)	“Authorized Party” shall mean, (1) for the Chief Executive Officer and any Participant who reports directly to the Chief Executive Officer, the Committee, and
(2) for any Participant who does not report directly to the Chief Executive Officer, the Chief Executive Officer or his designee. 

  

	(e)	“Board of Directors” shall mean the board of directors of the Company. 

  

	(f)	“Cause” shall mean: 

  

	 	(1)	the willful and continued failure of the Participant to perform substantially the Participant’s duties with the Company or Affiliates (other than any such failure resulting
from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Participant by the Authorized Party which specifically identifies the manner in which the Authorized Party believes that the
Participant has not substantially performed the Participant’s duties; 

  

	 	(2)	the willful engaging by the Participant in illegal conduct or gross misconduct; or 

  

	 	(3)	a clearly established violation by the Participant of the Company’s Code of Conduct that the Authorized Party determines to be materially and demonstrably injurious to the
Company or any Affiliate; 

 provided that no act or failure to act on the part of the Participant shall be considered
“willful” unless it is done, or omitted to be done, by the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in the best interests of the Company. Any act, or failure to act, based
upon authority given pursuant to a resolution duly adopted by the 

  

 -3- 

 
Board of Directors or upon the instructions of the Chief Executive Officer or a senior officer of the Company or based upon the advice of counsel for the
Company shall be conclusively presumed to be done, or omitted to be done, by the Participant in good faith and in the best interests of the Company. 
  

	(g)	“Change of Control” shall have the meaning set forth in Section 5.03(c) and (d). This definition of Change of Control is different than the Pre-2004
Plan’s definition of “Change in Control,” which is set forth in Section E-10.3. 

  

	(h)	“Chief Executive Officer” shall mean the chief executive officer of the Company. 

  

	(i)	“Code” shall mean the Internal Revenue Code of 1986, as amended. 

  

	(j)	“Committee” shall mean the Compensation and Organizational Development Committee of the Board of Directors. 

  

	(k)	“Company” shall mean MeadWestvaco Corporation, a Delaware corporation. 

  

	(l)	“Early Retirement Date” for a Participant shall mean his 62nd birthday. 

  

	(m)	“Employer” shall mean the Company and any Affiliate that, with the consent of the Board of Directors, has adopted the Plan. For purposes of Section 2.01(ii),
the term “Employer” shall include the Mead Corporation and Westvaco Corporation. 

  

	(n)	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

  

	(o)	“Grandfathered Benefit” shall have the meaning set forth in Section 4.03(b)(2). 

  

	(p)	“Grandfathered CIC Benefit” shall have the meaning set forth in Section 5.03(f)(3). 

  

	(q)	“Normal Retirement Date” for a Participant shall mean his 65th birthday. 

  

	(r)	“Ongoing-SERP Benefit” shall have the meaning set forth in Section 4.03(b)(3). 

  

	(s)	“Participant” shall mean an individual who satisfies the requirements for participation in the Plan in Section 3.01 and whose accrued benefit under the Plan
has not been forfeited or completely distributed. An “Active Participant” shall mean a person who is an Active Participant as described in Section 3.01 and an “Inactive Participant” shall mean a person who is
an Inactive Participant as described in Section 3.02. 

  

	(t)	“PIA” shall mean the Participant’s Primary Insurance Amount, as defined in the applicable Qualified Plan. 

  

	(u)	“Plan” shall mean the MeadWestvaco Corporation Executive Retirement Plan, as amended from time to time. 

  

	(v)	“Plan Administrator” shall mean the plan administrator appointed pursuant to Section 6.01(a). 

  

	(w)	“Plan FAP” shall mean a Participant’s “Final Average Pay” as defined in the applicable Qualified Plan, but calculated without regard to the
provisions of the applicable Qualified Plan implementing Section 401(a)(17) of the Code or any successor thereto. 

  

 -4- 

	(x)	“Pre-AJCA Benefit” shall have the meaning set forth in Section D-3.01. 

  

	(y)	“Pre-2004 Plan” shall mean the Plan as in effect as of January 28, 2004, as set forth in Appendix E. 

  

	(z)	“Qualified Plan” shall mean the MeadWestvaco Corporation Retirement Plan for Salaried and Non-Bargained Hourly Employees, the MeadWestvaco Corporation Envelope
Division Retirement Plan for Salaried and Non-Bargained Employees and any other “defined benefit plan” (as defined in Section 3 of ERISA) sponsored by the Company or an Affiliate that is qualified under Section 401(a) of the Code
and that is designated by the Board of Directors or the Committee as a “Qualified Plan” for purposes of this Plan. For purposes of Section 4.01(a)(2) (and for any other purposes established by the Board of Directors or the Committee
in accordance with the preceding sentence), the term “Qualified Plan” shall include the MeadWestvaco Corporation Retirement Plan for Bargained Hourly Employees. 

  

	(aa)	“Qualified Plan Assumptions” shall mean the actuarial tables and interest rates (including variations that apply for specific purposes, such as converting benefits
to a lump sum amount) set forth in the last Qualified Plan covering the Participant for purposes of calculating actuarial equivalence and present value. 

  

	(bb)	“Retirement Plan” shall mean the MeadWestvaco Corporation Retirement Plan for Salaried and Non-Bargained Hourly Employees or any successor thereto.

  

	(cc)	“Spouse” shall have the meaning set forth in the applicable Qualified Plan. 

  

	(dd)	“Totally and Permanently Disabled” shall have the same meaning as under the last Qualified Plan covering the Participant. 

  

	(ee)	“Vested Benefit” shall mean a Participant’s benefit under Sections 4.01 and 4.02, or Section 4.03, as applicable, that has become vested under
Section 5.01 or Section 4.05(b) and has not been forfeited under Section 5.02 or any other provision of the Plan. 

  

	(ff)	“Years of Appendix A Service” shall mean, with respect to a Participant listed in Appendix A or Appendix D, the number of years of service (in years and months)
through December 31, 2003 shown for the Participant in Appendix A or Appendix D. 

  

	(gg)	“Years of Appendix B Service” shall mean, with respect to a Participant listed in Appendix B, the number of years of service (in years and months) credited as of
December 31, 2003, as shown in Appendix B. 

  

	(hh)	“Years of Benefit Service” shall mean the Participant’s Years of Benefit Service under the applicable Qualified Plan. 

  

	(ii)	“Years of Plan Benefit Service” shall mean a Participant’s Years of Plan Service, except that a Participant’s Years of Plan Benefit Service shall not
exceed the number determined by subtracting 30 from his age (in years and completed months) on the date he commenced employment with the Employer or an Affiliate. 

  

	(jj)	 “Years of Plan Service” shall mean the number of months since his most recent employment date (or such earlier date as set forth in a resolution
pursuant to Section 3.01(b) that applies with respect to his most recent employment date) during which an individual is an Active Participant, divided by 12. For purposes of this calculation, an individual shall be deemed to be an Active
Participant for any month in which he is an Active Participant for one 

  

 -5- 

	 	 
or more calendar days. Unless stated otherwise, a Participant’s Years of Plan Service shall be the sum of his service as an Active Participant (as
determined under the first two sentences of this Section 2.01(jj)) since January 29, 2004 plus his Years of Appendix A Service or Years of Appendix B Service, if any. 

  

	2.02. 	CONSTRUCTION 

 For purposes of the Plan, unless the
contrary is clearly indicated by the context: (a) the use of the masculine gender shall also include within its meaning the feminine and vice versa; (b) the use of the singular shall also include within its meaning the plural and vice
versa; (c) the word “include” shall mean to include, but not to be limited to; and (d) any reference to a statute or section of a statute shall further be a reference to any successor or amended statute or section, and any
regulations or other guidance of general applicability issued thereunder. 
  

 -6- 

 ARTICLE 3. PARTICIPATION 
  

	3.01. 	ACTIVE PARTICIPATION 

  

	(a)	The persons listed in Appendix A and Appendix D (all of whom accrued benefits under the Pre-2004 Plan) who are employed by the Employer on January 29, 2004 shall continue to be
Active Participants as of January 29, 2004. 

  

	(b)	Any other senior executive of the Employer who has been designated as eligible to participate in the Plan by a resolution adopted by the Committee shall become an Active Participant
as of the date set forth in such resolution. The persons listed in Appendix B became Active Participants on January 29, 2004, but received a past service credit; Appendix B shows each such Participant’s Years of Plan Service as of
December 31, 2003. 

  

	(c)	An Active Participant shall remain an Active Participant for so long as he is employed by the Employer or until the Committee determines that he is no longer eligible to accrue
benefits under the Plan, if earlier. 

  

	3.02. 	INACTIVE PARTICIPATION 

  

	(a)	An Active Participant shall become an “Inactive Participant” as of the earlier of: (1) the effective date of his termination of employment; or (2) the effective
date of the Committee’s determination that he is no longer eligible to accrue benefits under the Plan. 

  

	(b)	The persons listed in Appendix D who are no longer accruing benefits under the Plan on January 29, 2004 shall continue to be Inactive Participants as of January 29, 2004.

  

	(c)	An Inactive Participant shall remain an Inactive Participant for so long as his benefits under the Plan have not been fully distributed and he does not again become an Active
Participant pursuant to Section 3.01. 

  

 -7- 

 ARTICLE 4. AMOUNT AND PAYMENT OF BENEFITS 
  

	4.01. 	AMOUNT OF BENEFITS 

  

	(a)	Unless he is listed in Appendix A (in which case Section 4.03 applies) or Appendix D, the amount of a Participant’s benefit under the Plan, expressed as an annual amount
payable beginning on the first day of the month coincident with or next following his Normal Retirement Date (or the first day of the month coincident with or next following his termination of employment with the Employer and Affiliates, if later),
shall equal the amount determined under (1) less the sum of the amounts determined under (2) and (3), where: 

  

	 	(1)	equals (A) minus (B), where— 

  

	 	(A)	equals 1.6 percent of the Participant’s Plan FAP, multiplied by the sum, not to exceed 40, of (i) 75 percent of his Years of Plan Benefit Service and (ii) his Years
of Benefit Service; and 

  

	 	(B)	equals 1.25 percent of his PIA multiplied by his Years of Benefit Service; 

  

	 	(2)	equals the total amount determined to be payable to the Participant under the Qualified Plans, expressed as an annual amount payable as a single-life annuity beginning on the first
day of the month coincident with or next following his termination of employment with the Employer and Affiliates, but not including any restructuring or other supplemental benefits payable to the Participant under such Qualified Plans.

  

	 	(3)	equals the total amount, if any, determined to be payable to the Participant under the plans listed in Appendix C, and expressed as an annual amount payable as a single-life annuity
beginning on the first day of the month coincident with or next following his termination of employment with the Employer and Affiliates, but not including any restructuring or other supplemental benefits payable to the Participant under such plans.

  

	(b)	For purposes of Section 4.01(a), the amount payable to a Participant under the Qualified Plans and the plans listed in Appendix C shall be determined without regard to any
qualified domestic relations order (as defined in Section 414(p) of the Code) or other order or settlement agreement that reduces or divides the Participant’s benefit under such plans. 

 4.02.  NORMAL AND EARLY RETIREMENT 
 Unless he is listed in Appendix A (in which case Section 4.03 applies) or Appendix D (in which case Appendix D applies): 

 

	(a)	A Participant who terminates employment on or after his Normal Retirement Date shall be entitled to receive his Vested Benefit under the Plan (if any) at the time and in the manner
described in Section 4.04 without any reduction for early commencement of benefits or any increase for late commencement of benefits (except as provided in Section 4.04(a) with respect to delayed payments). 

  

	(b)	 A Participant who terminates employment with a Vested Benefit before his Normal Retirement Date (and on or after his 55th birthday) and who attains the Rule of 80
before he 

  

 -8- 

	 	 
terminates employment shall be entitled to receive his Vested Benefit (if any) at the time and in the manner described in Section 4.04, but subject to
the following: 

  

	 	(1)	If the Participant terminates employment on or after his Early Retirement Date, such Vested Benefit shall be paid without any reduction for early commencement of benefits.

  

	 	(2)	If the Participant terminates employment before his Early Retirement Date, the amount determined under Section 4.01(a)(1) shall be reduced by  1/4 of 1 percent for each month by which the first day of the month coincident with or next following his termination
of employment precedes the first day of the month coincident with or next following his Early Retirement Date. 

  

	(c)	A Participant who terminates employment with a Vested Benefit before his Normal Retirement Date (and on or after his 55th birthday) and who does not attain the Rule of 80 before he
terminates employment shall be entitled to receive his Vested Benefit at the time and in the manner described in Section 4.04, subject to the following: 

  

	 	(1)	The amount determined under Section 4.01(a)(1) shall be reduced pursuant to the rules applicable to him under Section 5.2(a) (including the proviso) of the Retirement Plan
or any successor provision thereto (or the comparable provision of the applicable Qualified Plan, if the Retirement Plan is not the applicable Qualified Plan with respect to him). 

  

	 	(2)	For purposes of the reduction described in Section 4.04(c)(1), the Participant’s assumed benefit commencement date shall be the first day of the month coincident with or
next following his termination of employment, even though the actual commencement date is the date set forth in Section 4.04. 

  

	(d)	For purposes of this Article 4: 

  

	 	(1)	A Participant attains the Rule of 80 when the sum of his Age and Rule of 80 Service equals 80. 

  

	 	(2)	A Participant’s “Age” shall mean his complete years of age, plus the number of complete or partial calendar months since his most recent birthday, divided by 12.

  

	 	(3)	“Rule of 80 Service” shall mean the Participant’s Years of Benefit Service under the applicable Qualified Plan. 

  

	4.03. 	PRE-2004 PARTICIPANTS 

 This
Section 4.03 shall apply only to Participants listed in Appendix A. For the comparable provisions that apply to a Participant who has a Pre-AJCA Benefit, see Appendix D. 
  

	(a)	Notwithstanding anything to the contrary in Section 4.01 or 4.02, the benefits of a Participant listed in Appendix A: 

  

	 	(1)	who terminates employment on or after his Normal Retirement Date and after his Benefit under the Plan becomes vested under Section 5.01(a) or (b) shall equal the greatest
of: (A) the Participant’s All-MERP Benefit; (B) the Participant’s Grandfathered Benefit; or (C) the Participant’s Average Benefit. 

  

 -9- 

	 	(2)	who terminates employment before his Normal Retirement Date but after his benefit under the Plan becomes vested under Section 5.01(a) or (b) shall equal the greatest of:

  

	 	(A)	The Participant’s All-MERP Benefit, reduced by applying the rules in Sections 4.02(b) through (d); 

  

	 	(B)	The Participant’s Grandfathered Benefit (without any adjustment to account for termination of employment before or after age 62); or 

  

	 	(C)	The average of (i) and (ii), where: 

  

	 	(i)	equals the greater of (I) the amount determined under Section 4.03(a)(2)(A); and (II) the amount determined under Section 4.03(a)(2)(B). 

  

	 	(ii)	equals the Participant’s Ongoing-SERP Benefit, reduced by applying Section E-4.2, based on the assumption that his benefit commencement date is the first day of the month
coincident with or next following his termination of employment (even though the actual commencement date is the date set forth in Section 4.04). 

  

	 	(3)	who terminates employment before his benefit under the Plan becomes vested under Section 5.01(a) or (b), but after his Grandfathered Benefit becomes vested under
Section 5.01(c), shall receive his Grandfathered Benefit (without any adjustment to account for termination of employment before or after age 62). 

  

	(b)	For purposes of this Section 4.03: 

  

	 	(1)	A Participant’s All-MERP Benefit equals the amount described in Section 4.01(a). 

  

	 	(2)	A Participant’s Grandfathered Benefit equals the amount set forth in Appendix A or Appendix D. (Persons not listed in Appendix A or Appendix D do not have a Grandfathered
Benefit.) A Participant’s Grandfathered Benefit is based on the benefit he would have received under the terms of the Pre-2004 Plan if he had: (A) terminated employment involuntarily without Cause on December 31, 2004; and
(B) begun receiving his benefit on the first day of the month coincident with or next following his 62nd birthday (or December 31, 2004, if later). 

  

	 	(3)	A Participant’s Ongoing-SERP Benefit equals the amount determined by applying Section E-3 (not including Section E-3.3) to the Participant’s Final Average Earnings (as
defined in Section E-3.4) as of the date of his termination of employment with the Employer and Affiliates. 

  

	 	(4)	A Participant’s Average Benefit equals the average of the amounts in subsections (A) and (B), where: 

  

	 	(A)	equals the greater of (i) the Participant’s All-MERP Benefit; or (ii) the Participant’s Grandfathered Benefit; and 

  

	 	(B)	equals the Participant’s Ongoing-SERP Benefit. 

  

 -10- 

	4.04. 	TIMING AND FORM OF BENEFIT PAYMENTS TO PARTICIPANT

 This Section 4.04 applies only to Participants who do not have a Pre-AJCA Benefit. For the comparable provisions that apply to a
Participant who has a Pre-AJCA Benefit, see Appendix D. 
  

	(a)	The Vested Benefit, if any, of a Participant not listed in Appendix A or Appendix D shall commence on the first day of the first month that begins at least six months after his
termination of employment. The first payment to any such Participant shall include all payments that would have been made up to the actual commencement date if payments had commenced on the first day of the month coincident with or next following
his termination of employment, plus interest on the delayed payments at an annual rate (compounded monthly) equal to the interest rate that is used in the applicable Qualified Plan for purposes of calculating the value of an optional form of benefit
that is subject to Section 417(e)(3) of the Code and that commences as of the first day of the month coincident with or next following his termination of employment. 

  

	(b)	Except as provided in Section 5.03(a) (relating to an involuntary termination of employment following a Change of Control), the Vested Benefit, if any, of a Participant not
listed in Appendix A or Appendix D shall be paid to a Participant who is living, at the time set forth in Section 4.04(a), in the following form: 

  

	 	(1)	If the Participant is not married on the date his benefit commences, the form of payment shall be a single-life annuity. 

  

	 	(2)	If the Participant is married on the date his benefit commences, the form of payment shall be a 50% joint and survivor annuity, with his Spouse (as of the date his benefit
commences) as joint annuitant; provided that, a Participant may elect, at the time and in the manner prescribed by the Plan Administrator, to receive his Vested Benefit in the form of a single-life annuity. For purposes of this
Section 4.04(b)(2), a benefit in the form of a 50% joint and survivor annuity shall be computed so as to be the actuarial equivalent of the benefit in the form of a single-life annuity, using the Qualified Plan Assumptions.

  

	(c)	Except as provided in Section 5.03(a) (relating to an involuntary termination of employment following a Change of Control), the Vested Benefit, if any, of a Participant listed
in Appendix A shall be paid to a Participant who is living, at the time and in the form set forth below: 

  

	 	(1)	The Participant’s Grandfathered Benefit (if vested) shall be paid in an actuarially equivalent lump sum on the later of (x) the date set forth in Section 4.04(a) or
(y) the first day of the month coincident with or next following his 62nd birthday; the amount of the payment shall be adjusted as described in Section 4.04(a) to reflect any delay from (i) the later of (I) the first day of the
month coincident with or next following his termination of employment and (II) the first day of the month coincident with or next following his 62nd birthday to (ii) the actual commencement date. Actuarial equivalence shall be determined
using the Qualified Plan Assumptions and the following assumed commencement date: 

  

	 	(A)	If his actual commencement date is the first day of the month coincident with or next following his 62nd birthday, such date shall also be his assumed commencement date for purposes
of the calculation described in this Section 4.04(c)(1). 

  

 -11- 

	 	(B)	If his actual commencement date is the date described in Section 4.04(a), the assumed commencement date for purposes of the calculation described in this
Section 4.04(c)(1) shall be the first day of the month coincident with or next following his termination of employment (even though the assumed commencement date is before the actual commencement date). 

  

	 	(2)	The portion (if any) of the Participant’s Vested Benefit that exceeds the value of the Participant’s Grandfathered Benefit shall be paid at the time described in
Section 4.04(a) and in the form described in Section 4.04(b) (with the first payment being adjusted as described in Section 4.04(a)). 

  

	(d)	Continuing Payments after Rehire 

  

	 	(1)	If a Participant with a Vested Benefit terminates employment with the Employer and Affiliates and is rehired and reinstated as an Active Participant before payment of his Vested
Benefit commences, he shall continue to accrue additional benefits under the Plan, and his prior termination of employment shall not be treated as a termination of employment for purposes of this Section 4.04. 

  

	 	(2)	If a Participant with a Vested Benefit terminates employment with the Employer and Affiliates and is rehired and reinstated as an Active Participant after payment of his Vested
Benefit commences, he shall continue receiving benefit payments in accordance with the payment schedule determined under Section 4.04(b) or (c). Upon his subsequent termination of employment, his benefit shall be determined under the terms of
the Plan based on his service before and after his rehire and shall be offset by the actuarial equivalent value (determined using the Qualified Plan Assumptions) of the benefit he received or is receiving for his original term of participation in
the Plan. 

  

	(e)	For purposes of this Section 4.04: 

  

	 	(1)	A Participant will not be deemed to be “married” on any date unless he has a Spouse on such date; and 

  

	 	(2)	A Participant will not be deemed to have terminated employment unless he has had a “separation from service” within the meaning of Section 409A(a)(2)(A) of the Code.

  

	4.05. 	DISABILITY 

 If a Participant becomes Totally and
Permanently Disabled, then: 
  

	(a)	If, with or without reasonable accommodation, he is unable to continue working in his then-current position, he shall become an Inactive Participant pursuant to Sections 3.01(c) and
3.02(a); 

  

	(b)	If he has not satisfied the vesting requirements set forth in Section 5.01 and he remains Totally and Permanently Disabled on or after his Normal Retirement Date (or the date
he terminates employment with the Employer and Affiliates, if later), his benefit under the Plan (based only on his service as an Active Participant) shall become 100 percent vested as of his Normal Retirement Date (or the date he terminates
employment with the Employer and Affiliates, if later); and 

  

 -12- 

	(c)	He shall receive his benefit under the Plan in the form set forth in Section 4.04(b) or (c), commencing on the later of (1) the date set forth in Section 4.04(a) or
(c), or (2) the first day of the month after his benefit under the Plan becomes 100 percent vested. His first payment shall be adjusted as described in Section 4.04(a) to reflect any delay from (i) the later of (A) the first day
of the month coincident with or next following his termination of employment and (B) the first day of the month after his benefit under the Plan becomes 100 percent vested to (ii) the actual commencement date. 

  

	4.06. 	PRE-RETIREMENT DEATH BENEFITS 

 This Section 4.06 shall apply only to Participants who do not have a Pre-AJCA Benefit. For the comparable provisions that apply to a Participant who has a Pre-AJCA Benefit, see Appendix D. 
  

	(a)	If a Participant’s death occurs before payment of his benefit under the Plan begins and he: (1) has not completed at least five Years of Plan Service or
(2) terminated employment before attaining age 55 and before his death, his benefit shall be forfeited and no death benefit shall be paid under the Plan with respect to him; provided, however, that if he is listed in Appendix A, and his Spouse
satisfies the eligibility criteria set forth in Section E-9.1, such Spouse shall receive the benefit described in Section 4.06(b), below, but only with respect to the Participant’s Grandfathered Benefit. 

  

	(b)	If a Participant’s death occurs after he has completed five or more Years of Plan Service but before his termination of employment with the Employer and Affiliates (or before
payment of his benefit under the Plan begins, if he terminated employment with the Employer and Affiliates after attaining age 55), and he is survived by a Spouse who is entitled to receive a qualified preretirement survivor annuity under the
applicable Qualified Plan, such Spouse shall be entitled to receive a preretirement death benefit under the Plan, commencing on the first day of the month after the Participant’s death (or as soon as practicable thereafter, to the extent
permitted under Section 409A of the Code), and calculated as follows: 

  

	 	(1)	If the Participant terminated employment with the Employer and Affiliates on or after his 55th birthday, his Spouse shall receive a preretirement survivor annuity based on his
service as an Active Participant, calculated in the same manner as the qualified preretirement survivor annuity payable to such Spouse under Section 7.1(a)(i) of the Retirement Plan or any successor provision thereto (or the comparable
provision of the applicable Qualified Plan, if the Retirement Plan is not the applicable Qualified Plan with respect to the Participant). For purposes of determining whether this Section 4.06(b)(1) applies to a Participant, and for purposes of
applying Sections 4.01(a)(2) and (3) to determine the amount of the preretirement survivor annuity with respect to a Participant described in this Section 4.06(b)(1), a Participant who dies while employed by the Employer or an Affiliate
shall be deemed to have terminated employment on the date of his death. 

  

	 	(2)	If the Participant’s death occurs before his 55th birthday (and before his termination of employment with the Employer and Affiliates), his Spouse shall receive a lump sum
payment, calculated as follows: 

  

	 	(A)	 First, a preretirement survivor annuity based on his service as an Active Participant, payable as of the first day of the month after the Participant would have
attained age 55, shall be calculated in the same manner as the qualified preretirement survivor annuity payable to such Spouse under Section 7.1(a)(ii) of the Retirement Plan or any successor provision thereto (or the comparable provision of
the applicable Qualified Plan, if the 

  

 -13- 

	 	 
Retirement Plan is not the applicable Qualified Plan with respect to the Participant). For purposes of calculating the amounts described in
Section 4.01(a)(2) and (3) and the early retirement reduction factors set forth in Sections 4.02(b) and (c) and 4.03(a)(2), as applicable, it shall be assumed that the Participant attained age 55 on the date that he terminated
employment; however, this assumption shall not apply for other purposes, such as to increase the Participant’s service or final average pay. 

  

	 	(B)	Second, the preretirement survivor annuity computed under Section 4.06(b)(2)(A) shall be converted to an actuarially equivalent lump sum that is paid as of the first day of the
month after the Participant’s death, using the most recent FAS 87 discount rate in effect as of the date of payment and the mortality table that is used in the applicable Qualified Plan as of such date for purposes of calculating the value of
an optional form of benefit that is subject to Section 417(e)(3) of the Code. 

  

	(c)	If a Participant meets all of the requirements set forth in Section 4.06(b) except that he does not have a Spouse at the time of his death, the benefit set forth in
Section 4.06(b) shall be payable to a beneficiary elected by the Participant in accordance with procedures established by the Plan Administrator. The death benefit described in this Section 4.06(c) shall not be paid on behalf of any
Participant with respect to whom the Plan Administrator (or its designee) determines there is no valid beneficiary election (on the form designated by the Plan Administrator) on file. 

  

 -14- 

 ARTICLE 5. VESTING, NON-COMPETITION AND CHANGE OF CONTROL 
 This Article 5 is modified with respect to any Participant who has a Pre-AJCA Benefit, as set forth in Appendix D. 
 5.01.  VESTING 
 Except as otherwise provided in
Section 4.06 or Section 5.02: 
  

	(a)	A Participant shall become 100 percent vested in his benefit under the Plan if he attains age 55 before his termination of employment with the Employer and Affiliates and he has
five or more Years of Plan Service. 

  

	(b)	If a Participant’s employment with the Employer and Affiliates is involuntarily terminated under the circumstances described in Section 5.03(a), then he shall become 100
percent vested in his benefit under the Plan as of such date. Also, if a “Change in Control” (within the meaning of Section E-10.3) occurs, then each Participant listed in Appendix A (to the extent not already vested) shall become 100
percent vested in his Grandfathered CIC Benefit only. 

  

	(c)	If a Participant listed in Appendix A terminates employment with the Employer and Affiliates: (1) after he attains age 55 but before he has five Years of Plan Service, or
(2) involuntarily for reasons other than Cause before he attains age 55, then he shall become 100 percent vested in his Grandfathered Benefit only. 

 5.02.  FORFEITURE 
  

	(a)	Forfeiture of Benefits. A Participant shall not have any right to a benefit or payment under the Plan if his benefit under the Plan (including any benefit that has otherwise
vested pursuant to Section 5.01) is forfeited under Section 5.02(a), (b) or (c), or Section 4.06. A Participant shall forfeit any portion of his benefit under the Plan that is not vested in accordance with the terms of the Plan
as of his termination of employment with the Employer and the Affiliates, and such forfeiture shall not be reinstated if he is rehired unless provided otherwise in a resolution adopted by the Committee. 

  

	(b)	Termination for Cause. If a Participant’s employment with an Employer or Affiliate is terminated for Cause, his benefits under the Plan shall be automatically and
permanently forfeited. 

  

	(c)	Competitive Activities, Solicitation, and Disparagement. If the Authorized Party determines that after termination of employment but prior to receiving his entire Vested
Benefit and without the express prior written consent of the Authorized Party, a Participant directly or indirectly, individually or as an agent, officer, director, employee, shareholder, partner or in any other capacity whatsoever:

  

	 	(1)	has engaged, or is engaging, in any activity competitive with or adverse to the Employer’s or Affiliate’s businesses or in the sale, distribution, production, or attempted
sale, distribution or production, of any goods, products or services then sold or being developed by any Employer or Affiliate; 

  

	 	(2)	 personally engages in Competitive Activities or works for, owns, manages, operates, controls, or participates in the ownership, management, operation or control of,
or 

  

 -15- 

	 	 
provides consulting or advisory services to, any individual, partnership, firm, corporation, or institution engaged in Competitive Activities (provided that
the Participant’s purchase or holding, for investment purposes, of securities of a publicly traded company shall not constitute “ownership” or “participation in ownership” for purposes of this Section 5.02(c)(2) so long
as the Participant’s equity interest in any such company is less than a controlling interest); 

  

	 	(3)	solicits, induces, or attempts to induce any of the Company’s or an Affiliate’s employees to leave the employ of such Company or Affiliate; 

  

	 	(4)	makes disparaging remarks with respect to the Company, an Affiliate, any of the Company’s or Affiliates’ products or businesses, or any of the Company’s or
Affiliates’ employees, directors, consultants, independent contractors, or other service providers; 

  

	 	(5)	communicates or reveals any secret or confidential information, knowledge, or data related to the Company or an Affiliate, and their respective businesses, except to the extent that
the right to make such a communication or revelation is expressly protected by applicable law; or 

  

	 	(6)	otherwise violates the Company’s Code of Conduct in a manner that the Authorized Party determines to be materially and demonstrably injurious to the Company,

 such Participant’s benefits under the Plan shall be automatically and permanently forfeited and payment of such benefits
to the Participant or any other person, if commenced, shall cease. 
 For purposes of this Section 5.02(c), “Competitive
Activity” shall mean a business activity relating to products or services of the same or similar type as the products or services that (x) are sold (or, pursuant to an existing business plan, will or might be sold) to paying customers of
the Company or an Affiliate; and (y) for which the Participant had responsibility to plan, develop, manage, market, or oversee within the prior 24 months or within the 24 months preceding his termination of employment the Company and
Affiliates. 
 5.03.  CHANGE OF CONTROL 
  

	(a)	Notwithstanding anything to the contrary in Section 4.04, if a Participant’s employment with the Employer and Affiliates is involuntarily terminated within 24 months after
the date of a Change of Control for reasons other than Cause and he was an Active Participant on the date of the Change of Control, his Vested Benefit shall be paid to him in the form of a single lump sum on the date described in
Section 4.04(a), with the amount of the payment being adjusted as described in Section 4.04(a), except that the interest rate for the delay described in Section 4.04(a) shall be the rate set forth in Section 5.03(b)(2)(A). A
Participant who receives the lump sum payment described in this Section 5.03(a) shall not be eligible to receive any other benefit under the Plan. 

  

	(b)	The amount of the lump sum payment described in Section 5.03(a) shall be computed as follows: 

  

	 	(1)	First, the Participant’s Vested Benefit shall be calculated as a single-life annuity. 

  

	 	(A)	 For a Participant who terminates employment on or after his 55th birthday, such single-life annuity shall be calculated in accordance with Sections 4.01 

  

 -16- 

	 	 
and 4.02, or Section 4.03, as applicable, except that the Grandfathered Benefit for any Participant listed in Appendix A shall be replaced with his
Grandfathered CIC Benefit. 

  

	 	(B)	For a Participant who terminates employment before his 55th birthday, such single life annuity shall be calculated in accordance with Sections 4.01 and 4.02, or Section 4.03,
as applicable, except that— 

  

	 	(i)	The amount determined under Sections 4.01(a)(2) (i.e., the offset for Qualified Plan benefit) and 4.01(a)(3) (i.e., the offset for benefits under plans listed in
Appendix C) shall be determined by replacing the phrase “beginning on the first day of the month coincident with or next following his termination of employment” with “beginning on the first day of the month coincident with or next
following his 55th birthday;” 

  

	 	(ii)	The amount determined under Section 4.02(b)(2) (i.e., the Rule of 80 reduction for early termination, if applicable) shall be determined by replacing the phrase
“the first day of the month coincident with or next following his termination of employment” with “the first day of the month coincident with or next following his 55th birthday;” 

  

	 	(iii)	The amount determined under Section 4.02(c) (i.e., the reduction for early termination for Participants who do not satisfy the Rule of 80, if applicable) shall be
determined by replacing the assumed commencement date described in Section 4.02(c)(2) with the first day of the month coincident with or next following his 55th birthday (even though the actual commencement date is the date referenced in
Section 5.03(a)); 

  

	 	(iv)	The adjustments described in Sections 5.03(b)(1)(B)(ii) and (iii) shall apply for purposes of the calculation described in Section 4.03(a)(2)(A));

  

	 	(v)	The Grandfathered Benefit for any Participant listed in Appendix A (as referenced in Section 4.03(a)(2)(B)) shall be replaced with his Grandfathered CIC Benefit;

  

	 	(vi)	The amount described in Section 4.03(a)(2)(C)(ii) (i.e., the reduced Ongoing-SERP Benefit) shall be replaced with the modified “Pre-Age 55 Benefit” described
in Section E-10.3(a). 

  

	 	(2)	Second, the single-life annuity computed under Section 5.03(b)(1) shall be converted to an actuarially equivalent lump sum amount that is paid as of the first day of the month
coincident with or next following his termination of employment, using the mortality table that is used in the applicable Qualified Plan as of such date for purposes of calculating the value of an optional form of benefit that is subject to
Section 417(e)(3) of the Code and the following interest rate: 

  

	 	(A)	If the Participant is not listed in Appendix A, then the interest rate shall be the most recent FAS 87 discount rate in effect as of the first day of the month coincident with or
next following his termination of employment. 

  

 -17- 

	 	(B)	If the Participant is listed in Appendix A, then the interest rate shall be (i) the rate described in Section E-10.3 for his Grandfathered CIC Benefit and (ii) the rate
described in Section 5.03(b)(2)(A) for the portion (if any) of his Vested Benefit that exceeds the value of his Grandfathered CIC Benefit. 

  

	(c)	A “Change of Control” shall mean, except as provided in Section 5.03(d) (relating to a Merger of Equals): 

  

	 	(1)	The acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20 percent or more of either (i) the Outstanding
Company Common Stock or (ii) the Outstanding Company Voting Securities; provided, however, that for purposes of this Section 5.03(c)(1), the following acquisitions shall not constitute a Change of Control: (A) any acquisition directly
from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (iv) any acquisition by
any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of Section 5.03(c)(3); or 

  

	 	(2)	Individuals who constitute the Incumbent Board cease for any reason to constitute at least a majority of the Board of Directors; or 

  

	 	(3)	Consummation of a Business Combination unless, following such Business Combination: (i) all or substantially all of the individuals and entities that were the beneficial
owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60 percent of, respectively, the then
outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Resulting Corporation in
substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding the Resulting
Corporation and its affiliates or any employee benefit plan (or related trust) of the Resulting Corporation and its affiliates) beneficially owns, directly or indirectly, 20 percent or more of, respectively, the then outstanding shares of common
stock of the Resulting Corporation or the combined voting power of the then outstanding voting securities of the Resulting Corporation except to the extent that such ownership existed with respect to the Company prior to the Business Combination,
and (iii) at least a majority of the members of the Resulting Board were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;
or 

  

	 	(4)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	(d)	 Notwithstanding anything to the contrary in Section 5.03(c), a transaction or event described in Section 5.03(c) shall not constitute a “Change of
Control” if the conditions of a Merger of Equals are met at all times from the date of the transaction or event until the first anniversary of such transaction or event. If the conditions of a Merger of Equals are met at the time of the
transaction or event, but cease to be met prior to the first anniversary of such transaction or event, then such transaction or event shall constitute a Change of Control as of the date 

  

 -18- 

	 	 
the conditions of a Merger of Equals cease to be met. For purposes of this Section 5.03(d), the requirements of a “Merger of Equals” are that:

  

	 	(1)	the event or transaction is a Business Combination; 

  

	 	(2)	at least 50 percent of the members of the Resulting Board are individuals who were members of the Incumbent Board at the time of the execution of the initial agreement or of the
action of the Board of Directors providing for such Business Combination; and 

  

	 	(3)	either (A) the position of chief executive officer of the Resulting Corporation is occupied by an individual who was employed by the Company immediately before such Business
Combination, or (B) a majority of the leadership positions reporting directly to the chief executive officer of the Resulting Corporation are occupied by individuals who were employed by the Company immediately before such Business Combination.

  

	(e)	If a Participant listed in Appendix A terminates employment voluntarily or involuntarily (for any reason other than Cause) within 24 months after an event that constitutes a Change
in Control within the meaning of Section E-10.3 and he does not qualify for the lump sum payment described in Section 5.03(a) (e.g., because he terminates employment voluntarily or a Change of Control within the meaning of
Section 5.03(c) has not occurred), his Grandfathered CIC Benefit shall be paid to him in the form of a single lump sum (determined using the Actuarial Present Value assumptions set forth in Section E-10.3) on the date described in
Section 4.04(a) (with the amount of the payment being adjusted as described in Section 4.04(a)). 

  

	(f)	For purposes of Section 5.03: 

  

	 	(1)	“Business Combination” shall mean a reorganization, merger, statutory share exchange or consolidation, or similar corporate transaction involving the Company or any of its
subsidiaries, or a sale or other disposition of all or substantially all of the assets of the Company. 

  

	 	(2)	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

  

	 	(3)	“Grandfathered CIC Benefit” shall mean the amount set forth in Appendix A. (Persons not listed in Appendix A do not have a Grandfathered CIC Benefit.) A Participant’s
Grandfathered CIC Benefit is based on the annual benefit he would have received under the terms of the Pre-2004 Plan if a Change in Control (within the meaning of Section E-10.3) had occurred less than 24 months prior to December 31, 2004 and
he had terminated employment on December 31, 2004, if such benefit were paid in the form of a single-life annuity commencing on the first day of the month coincident with or next following his 62nd birthday. 

  

	 	(4)	 “Incumbent Board” shall mean the Board of Directors as of January 29, 2004, (the “Incumbent Board”); provided, however, that any individual
becoming a director subsequent to January 29, 2004 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or 

  

 -19- 

	 	 
other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board. 

  

	 	(5)	“Person” shall mean any individual, entity or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act. 

  

	 	(6)	“Resulting Board” shall mean the board of directors of the Resulting Corporation. 

  

	 	(7)	“Resulting Corporation” shall mean the corporation resulting from a Business Combination (including a corporation which as a result of such transaction owns the Company or
all or substantially all of the Company’s assets either directly or through one or more subsidiaries). 

  

	 	(8)	“Outstanding Company Common Stock” shall mean outstanding shares of the common stock of the Company as of the acquisition described in Section 5.03(c)(1).

  

	 	(9)	“Outstanding Company Voting Securities” shall mean outstanding voting securities\ of the Company entitled to vote generally in the election of directors as of the
acquisition described in Section 5.03(c)(1). 

  

 -20- 

 ARTICLE 6. PLAN ADMINISTRATION 
  

	6.01.	PLAN ADMINISTRATOR 

  

	(a)	The fiduciaries appointed by the Chief Executive Officer to administer the Retirement Plan shall also administer this Plan, unless the Chief Executive Officer appoints different
fiduciaries to administer this Plan. 

  

	(b)	The Plan Administrator shall adopt such procedures and rules as it deems necessary or advisable to administer the Plan, including providing a claims procedure to provide adequate
notice to any Participant or beneficiary whose claim is denied setting forth the specific reasons for a denial, written in a manner calculated to be understood by such person and offering a reasonable opportunity for a full and fair review of such
denial by the appropriate named fiduciary. In the absence of a separate written claims procedure, the claims procedure under the Retirement Plan shall apply under the Plan. 

  

	(c)	Any fiduciary under this Plan may employ one or more persons to render advice with regard to any responsibility such fiduciary has under the Plan. 

  

	(d)	All costs and expenses and fees of the Plan Administrator shall be borne by the Employer, which also shall bear all other costs and expenses incurred in administering the Plan.

  

	6.02. 	INCORPORATION OF CERTAIN PROVISIONS OF ERISA 

 To the extent the Plan is not subject to the provisions of Part 4 of Title I of ERISA, the provisions of Part 4 of Title I of ERISA other than Section 403 shall be
incorporated by reference as part of this Plan to define and govern the actions of the fiduciaries hereafter. 
  

	6.03. 	INTERPRETATIONS 

 All interpretations pertaining to
facts or provisions of the Plan made by the Plan Administrator, the Authorized Party, or the Committee shall be made in the complete and exclusive discretion of the Committee, the Plan Administrator, or the Authorized Party, as applicable, and shall
be binding and conclusive on all parties. The Plan Administrator shall have the complete and exclusive discretion to resolve ambiguities and inconsistencies in the language of the Plan and to supply omissions in the language of the Plan. 

 

	6.04. 	ELECTIONS AND DESIGNATIONS 

 All elections and designations that Participants are required or permitted to make under the Plan shall be made in writing or electronically in the form prescribed by the Plan Administrator (or its designees). 
  

	6.05. 	FUNDING POLICY 

 The Plan shall be
unfunded and the benefits due under the Plan shall be payable, when due, from the general assets of the Employer or, in the sole discretion of the Plan Administrator, from the assets of a specified trust, the assets of which shall be subject to the
claims of the unsecured creditors of the Employer. The Plan shall not be funded through a trust or other arrangement described in Section 409A(b)(1) of the Code and no assets of the Company or any Affiliate shall become restricted in the manner
described in Section 409A(b)(2) of the Code in connection with a 

  

 -21- 

 
change in the financial health of the Company or any Affiliate, as described in Section 409A(b)(2) of the Code. 
  

 -22- 

 ARTICLE 7. AMENDMENT, MERGER, AND TERMINATION OF PLAN 
  

	7.01. 	AMENDMENT OF THE PLAN 

  

	(a)	The Company reserves the right, at any time and from time to time, to amend in whole or in part, either retroactively or prospectively, any or all of the provisions of this Plan
without the consent of any Participant or beneficiary hereunder; provided, however, that— 

  

	 	(1)	No amendment shall have any retroactive effect to deprive any Participant of his vested interest already accrued, except an amendment that the Company deems necessary or
appropriate: (A) to conform the Plan to mandatory provisions of applicable federal or state laws, regulations, or rulings or to secure or maintain favorable tax treatment of amounts deferred under the Plan; or (B) to conform the Plan to
the requirements of the AJCA and Section 409A of the Code. 

  

	 	(2)	No amendment shall be made to the Plan that would constitute or result in a “material modification” of the Plan (within the meaning of Section 885(d)(2)(B) of the
AJCA) with respect to Pre-AJCA Benefits unless, and only to the extent that, such amendment or other action expressly states that it is intended to constitute a “material modification” of the Plan with respect to such amounts. Unless
expressly provided otherwise, any amendment or other action that would be deemed to constitute a “material modification” with respect to such Pre-AJCA Benefits shall be null and void (to the extent that such amendment or other action
constitutes a “material modification”). 

  

	(b)	Any amendment of this Plan may be enacted by written resolution of the Board of Directors. In addition, the Chairman of the Board of Directors, the Chief Executive Officer, the
President of the Company, and the Senior Vice President of the Company with responsibility for Human Resources may make any amendment in writing which: (1) may be necessary or desirable to improve the administration of the Plan, so long as the
amendment does not materially affect the substance of the Plan or the level of benefits it provides; or (2) may be required to comply with various federal or state laws (including Section 409A of the Code). 

  

	7.02. 	TERMINATION OF THE PLAN 

  

	(a)	The Company expects to continue the Plan and any corresponding trust indefinitely but reserves the right to terminate either or both at any time in whole or in part without the
consent of any Participant, surviving spouse, joint annuitant, alternate payee or beneficiary hereunder. Such termination shall be effected by resolution of the Board of Directors. 

  

	(b)	Unless expressly permitted under guidance of general applicability interpreting Section 409A of the Code, termination of the Plan shall not result in an acceleration of payment
of benefits under the Plan. 

  

	7.03. 	DESIGN DECISIONS 

 Decisions regarding
the design of the Plan shall be made in a settlor capacity and shall not be governed by the fiduciary responsibility provisions of ERISA as applied to the Plan pursuant to Section 6.02. The act of modifying, altering, amending, or terminating
the Plan and any corresponding trust shall be taken on behalf of the Company as employer, sponsor of the Plan, and settlor of any trust, and shall not be construed under any circumstances as an act taken in a fiduciary capacity under or with respect
to the Plan. 
  

 -23- 

 ARTICLE 8. MISCELLANEOUS PROVISIONS 
  

	8.01. 	EMPLOYMENT RIGHTS NOT AFFECTED BY PLAN 

 The adoption and maintenance of the Plan shall not be deemed to constitute a contract between the Employer and any employee. Nothing herein contained shall be deemed to
give to any employee the right to be retained in the employ of the Employer or to interfere with the right of the Employer to discharge any employee at any time; nor shall it be deemed to give the Employer the right to require the employee to remain
in its employ or to interfere with the employee’s right to terminate his employment. 
  

	8.02. 	INTEGRATION CLAUSE 

 No Participant,
surviving spouse, beneficiary, alternate payee, or any other person shall be entitled to or have any vested right in or claim to a benefit under the Plan, except as expressly provided herein. The Employer may from time to time issue to Participants
one or more booklets or brochures or make presentations summarizing the Plan. In the event of any conflict between the terms of the Plan document and any trust agreement and the terms of any such booklets, brochures, and presentations summarizing
the Plan, the terms of the Plan document and any trust agreement shall control. 
  

	8.03. 	LIABILITY LIMITED 

 Except as and to
the extent otherwise provided by applicable law, no liability shall attach to or be incurred by the shareholders, directors, officers, or employees of the Company under or by reason of any of the terms and conditions contained in the Plan or in any
of the contracts procured pursuant thereto or implied therefrom. 
  

	8.04. 	OVERPAYMENTS 

 If any overpayment of benefits is made
under the Plan, the amount of the overpayment may be set off against further amounts payable to or on account of the person who received the overpayment until the overpayment has been recovered. The foregoing remedy is not intended to be exclusive.

  

	8.05. 	INCAPACITY AND MINOR STATUS 

 If any person is a minor or unable to care for his affairs because of illness or accident, unless a duly qualified guardian or other legal representative has been appointed, any payment due from the Plan to that
person may be paid, for the benefit of such person, to his spouse, parent, brother, sister, or other person deemed by the Plan Administrator to have incurred expenses for such person. Such payment, to the extent thereof, shall discharge all
liability for such payment under the Plan. 
  

	8.06. 	ASSIGNMENT AND LIENS 

  

	(a) 	Nonalienability of Benefits. Except as otherwise provided in Section 8.06(b), the right of any person to any benefit or payment under the Plan shall not be subject to
alienation, transfer, assignment, or encumbrance, or otherwise subject to lien, and any such attempt to alienate, transfer, assign, or encumber any benefit or payment under the Plan shall be null and void. 

  

	(b) 	 Exception for Qualified Domestic Relations Orders. Section 8.06(a) shall not apply to payments made pursuant to a qualified domestic relations order
applicable to this Plan. Any domestic relations order shall be subject to the terms of the applicable Qualified Plan with 

  

 -24- 

	 	 
respect to such orders; provided that all qualified domestic relations orders shall be construed and executed in a manner consistent with the terms of the
Plan and Section 409A of the Code. 

  

	8.07. 	WITHHOLDING TAXES 

 The Plan
Administrator may make any appropriate arrangements to deduct from all amounts paid under the Plan, or to collect any taxes reasonably determined to be required to be withheld under applicable laws. To the extent that taxes are not withheld, and
irrespective of whether withholding is required, the Participant, surviving spouse, beneficiary, or alternate payee, as the case may be, shall bear all taxes on amounts paid under the Plan and on any other income resulting from the operation of the
Plan. 
  

	8.08. 	TITLES AND HEADINGS NOT TO CONTROL 

 The titles to articles and the headings of sections, subsections, paragraphs, and clauses in the Plan are placed herein for convenience of reference only, and in the
event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
  

	8.09. 	GOVERNING LAW AND LIMITATION ON ACTIONS 

  

	(a) 	The Plan shall be construed, administered, and regulated in accordance with the provisions of federal law, and, to the extent not preempted thereby, in accordance with the laws of
the State of Connecticut, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 

  

	(b) 	No claim for non-payment or underpayment of benefits allegedly owed by the Plan (regardless of whether such benefits are allegedly due under the terms of the Plan or by reason of
any law) may be filed in court until the claimant has exhausted the claims review procedures established in accordance with Section 6.01(b). Claims for underpayment of benefits must be filed in a court with jurisdiction to hear the claim no
later than 36 months after the date when the distribution of the benefit commenced. Claims for non-payment of benefits must be filed in a court located with jurisdiction to hear the claim no later than 36 months after the date when the first payment
was allegedly due. The running of the 36 month limitations period shall be suspended during the time that any request for review of the claim pursuant to Section 6.01(b) is pending before the Plan Administrator. The foregoing limitations period
is expressly intended to replace and to supersede any limitations period that might otherwise be deemed applicable under state or federal law in the absence of this Section 8.09. Claims filed after the expiration of the limitations period
prescribed by this Section 8.09 shall be deemed to be time-barred. 

  

	8.10. 	CLASS ACTION FORUM SELECTION CLAUSE 

  

	(a) 	To the fullest extent permitted by law, any putative class action lawsuit brought in whole or in part under Section 502 of ERISA or any successor provision or under state law
and relating to the Plan, the administration of the Plan, the trust (if any), or the performance or non-performance of Plan fiduciaries or administrators shall be filed in one of the following jurisdictions: (1) the jurisdiction in which the
Plan is principally administered; or (2) the jurisdiction in which the largest number of putative class members resides (or if that jurisdiction cannot be determined, the jurisdiction in which the largest number of class members is reasonably
believed to reside). 

  

 -25- 

	(b)	If any putative class action within the scope of Section 8.10(a) is filed in a jurisdiction other than one of those described in Section 8.10(a), or if any non-class
action filed in such a jurisdiction is subsequently amended or altered to include class action allegations, then the Plan, any Plan affiliates, and all alleged Plan participants shall take all necessary steps to have the action removed to,
transferred to, or re-filed in a jurisdiction described in Section 8.10(a). Such steps may include, but are not limited to: (1) a joint motion to transfer the action; or (2) a joint motion to dismiss the action without prejudice to
its re-filing in a jurisdiction described in Section 8.10(a), with any applicable time limits or statutes of limitations applied as if the suit or class action allegation had originally been filed or asserted in a jurisdiction described in
Section 8.10(a) at the same time that it was filed or asserted in a jurisdiction not described therein. 

  

	(c)	This forum selection provision is waived if no party invokes it within 120 days of the filing of a putative class action or the assertion of class action allegations.

  

	(d)	This Section 8.10 does not relieve the Plan or any putative class member of any obligation existing under the Plan or by law to exhaust administrative remedies (including the
applicable claims procedures) before initiating litigation or to comply with the limitation of actions provision set forth in Section 8.09(b). 

  

	8.11. 	SEVERABILITY 

 If any provision of the Plan should be
held illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

 

	8.12. 	COMPLETE STATEMENT OF PLAN 

 This document is a complete statement of the Plan. 
  

 -26- 

 IN WITNESS WHEREOF the undersigned has executed this statement of the Plan. 
  

	
	
	 /s/ John A. Luke, Jr.

	 John A. Luke, Jr.
 Chairman and Chief Executive Officer

 APPROVALS 
 LAW DEPARTMENT 
  

			
	 FILED: February 28, 2006

		
	 By
	 	 /s/ John J. Carrara

		 	 John J. Carrara
 Assistant Secretary &
 Associate General Counsel

		
		 	 /s/ Wendell L. Willkie, II

		 	 Wendell L. Willkie, II
 Senior Vice President,
 General Counsel and Corporate Secretary

  

 -27- 

 APPENDIX A 
 PARTICIPANTS WHO PARTICIPATED IN THE PRE-2004 PLAN BUT 
 DID NOT ACCRUE PRE-AJCA BENEFITS

  

									
	 Participant
	  	 Appendix A
 Service
 (Years of Service
 Through December
 31,
2003)*
	  	 Grandfathered Benefit
 (Expressed as an Annual
 Single-Life Annuity
 Beginning at Age 62)**
	 	 Grandfathered CIC
 Benefit
 (Expressed as an Annual
 Single-Life Annuity
 Beginning at Age 62)***

	 Mark T. Watkins
	  	3.083	  	$	54,306	 	$	82,333
	 William J. Biedenham
	  	5.417	  	$	79,831	 	$	97,623
	 Neil A. McLachlan
	  	4.917	  	$	19,133	 	$	58,969
	 Robert A. Feeser
	  	3.583	  	$	01	 	$	01
	 Peter H. Vogel, Jr.
	  	7.000	  	$	02	 	 	N/A2
	 Gary M. Curtis3
	  	21.500	  	$	17,374	 	 	N/A
	 James C. Tyrone3
	  	13.750	  	$	14,730	 	 	N/A

  

	*	As set forth in Sections 4.03(b)(2) and 5.03(f)(3), although Appendix A Service refers only to service through December 31, 2003, the Grandfathered Benefit and Grandfathered
CIC Benefit are based on the benefit the Participant would have received if he had terminated employment voluntarily on December 31, 2004. 

  

	**	The Grandfathered Benefit (if vested) shall be paid in an actuarially equivalent lump sum, determined in accordance with Section 4.04(c)(1), at the time set forth in
Section 4.04(c). 

  

	***	If a Participant listed in this Appendix A terminates employment under the circumstances described in Section 5.03(a), his Grandfathered CIC Benefit shall be paid in an
actuarially equivalent lump sum, determined in accordance with Section 5.03(b)(2)(B), at the time set forth in Section 5.03(a). If he terminates employment under the circumstances described in Section 5.03(e), his Grandfathered CIC
Benefit shall be paid in an actuarially equivalent lump sum, determined in accordance with Section 5.03(e), at the time set forth therein. 

  

	1	Mr. Feeser’s age as of December 31, 2004, was 43.25 years. As a result of the reduction described in Section E-5.2(a), if Mr. Feeser had
terminated employment involuntarily on December 31, 2004, his benefit under the terms of the Pre-2004 Plan would have been $0. 

  

	2	Mr. Vogel terminated employment involuntarily (not for Cause) before age 55 on
May 1, 2005, as a result of the Company’s divestiture of its Papers group. Although Mr. Vogel is eligible to receive his Grandfathered Benefit in a lump sum on the first day of the month coincident with or next following his 62nd
birthday, the amount of such Grandfathered Benefit is $0 because the amount of the offsets described in Section E-3.2(b) and (c) is greater than the amount described in Section E-3.2(a). 

  

	3	Messrs. Curtis and Tyrone terminated employment involuntarily (not for Cause) before age 55
on May 1, 2005, as a result of the Company’s divestiture of its Papers group. As set forth in Sections 5.01(c), 4.04(c), and E-5 of the Plan, each shall receive his Grandfathered Benefit (but no additional benefit) in an actuarially
equivalent lump sum on the first day of the month coincident with or next following his 62nd birthday. 

 APPENDIX B 
 PARTICIPANTS WHO BECAME ACTIVE PARTICIPANTS ON 
 JANUARY 29, 2004 WITH PAST SERVICE CREDITS

  

			
	 Participant
	  	 Years of Plan Service
 Before January 2004

	 John A. Luke
	  	15.000
	 James A. Buzzard
	  	6.000
	 Wendell L. Willkie, II
	  	7.833
	 Linda V. Schreiner
	  	3.167
	 Rita V. Foley
	  	4.583
	 James M. McGrane
	  	5.500
	 Benjamin F. Ward
	  	2.250
	 Richard N. Burton
	  	5.500
	 David A. Reinhart
	  	1.833
	 Daniel J. McIntyre*
	  	0.750

  

	*	Mr. McIntyre has since terminated employment with the Employer and Affiliates with fewer than five Years of Plan Service. Pursuant to Section 5.02(a) of the Plan, he
therefore does not have a right to any benefit or payment under the Plan. 

 APPENDIX C 
 NONQUALIFIED DEFERRED COMPENSATION PLANS WHOSE 
 BENEFITS OFFSET BENEFITS UNDER THIS PLAN

 1. The Mead Corporation Section 415 Excess Benefit Plan 
 2. The Mead Corporation Excess Earnings Benefit Plan 
 3. Westvaco Corporation Excess Benefit Plan 
 4. Westvaco Corporation Retirement Income Restoration Plan 
 5. MeadWestvaco
Corporation Retirement Restoration Plan 

 APPENDIX D 
 PROVISIONS FOR PARTICIPANTS WITH PRE-AJCA BENEFITS 
  

	D-1.	APPLICABILITY 

  

	 	D-1.01.	This Appendix D applies only to Participants who have Pre-AJCA Benefits, as set forth in Section D-3.01 (referred to as “Appendix D Participants”). To have a Pre-AJCA
Benefit, an individual must be listed in Section D-3.01 and must have had a vested benefit under the applicable Qualified Plan and attained age 55 before January 1, 2005. 

  

	 	D-1.02.	This Appendix D is intended to preserve the rights and features provided under the Pre-2004 Plan with respect to Pre-AJCA Benefits and shall be interpreted in a manner consistent
with this intent. With respect to such Pre-AJCA Benefits, the Plan shall not be “materially modified” (within the meaning of Section 885(d)(2)(B) of the AJCA), whether by amendment to the Plan or otherwise, unless (and only to the
extent that) the amendment or other action that would materially modify the Plan expressly states that it is intended to constitute a “material modification” of the Plan with respect to such amounts. Unless expressly stated otherwise, any
amendment or other action that would be deemed to constitute a “material modification” with respect to Pre-AJCA Benefits shall be null and void. 

  

	D-2.	DEFINITIONS 

 For purposes of this Appendix D,
capitalized terms shall have the meaning set forth in Section 2.01 of the Plan. In addition, the term “Post-AJCA Benefit” shall mean the benefit described in Section D-3.02. 
  

	D-3.	AMOUNT OF BENEFITS 

 An Appendix D Participant shall receive his Pre-AJCA Benefit and his Post-AJCA Benefit. 
  

	 	D-3.01. 	Pre-AJCA Benefit shall mean the portion (if any) of a Participant’s Grandfathered Benefit that was “deferred” (i.e., “earned and vested”) on
or before December 31, 2004 and earnings on such amount, determined in accordance with this Section D-3.01 and Section 885(d) of the AJCA and Section 409A of the Code. A Participant’s Pre-AJCA Benefit shall not include any
benefits accrued under the terms of the Plan in effect since January 29, 2004; all benefits accrued under the terms of the Plan in effect since January 29, 2004 shall be subject to Section 409A of the Code. All vested benefits under
the Pre-2004 Plan for Inactive Participants who terminated employment before January 29, 2004 are Pre-AJCA Benefits. 

 The chart below shows the Pre-AJCA Benefit (expressed as a lump sum determined as of December 31, 2004, based on an interest rate of 5.06 percent and the mortality assumptions set forth in the 1994 Group Annuity Reserving Table as
published in Rev. Rul. 2001-62); Grandfathered Benefit (expressed as an annual single-life annuity beginning as of the first day of the month coincident with or next following his termination of employment); and Years of Appendix A Service for each
Appendix D Participant who is an Active Participant as of January 29, 2004: 
  

 D-1 

									
	 Participant
	  	 Appendix A Service
 (Years of Service
 Through
December 31, 2003)
	  	 Grandfathered
 Benefit (Annual
 Single-Life
 Annuity)
	  	 Pre-AJCA Benefit
 (Lump Sum)

	 Dr. James C. Goldfrank
	  	9.417	  	$	174,399	  	$	2,161,469

 After December 31, 2004, the Pre-AJCA Benefit in the chart above shall accrue interest at a
rate of 5.06 percent per year until it is paid in full. 
 Unless he was an Inactive Participant as of January 29, 2004, any Participant
not listed above shall not have a Pre-AJCA Benefit and shall not have the rights of an Appendix D Participant. The chart below lists each Inactive Participant as of January 29, 2004, his benefit (which is a Pre-AJCA Benefit, expressed as a
annual single-life annuity), and his benefit commencement date: 
  

						
	 Participant
	  	 Benefit (Annual Sin
gle-
 Life Annuity)
	  	Benefit Commencement Date
	 Robinson
	  	$	17,408	  	December 1, 2014
	 Rosetti
	  	$	60,245	  	February 1, 2008
	 Simpson
	  	$	110,162	  	September 1, 2003
	 Snowball
	  	$	26,247	  	September 1, 2016

  

	 	D-3.02.	 Post-AJCA Benefit. The amount of an Appendix D Participant’s Post-AJCA Benefit, expressed as an annual single-life annuity, shall equal the benefit calculated
under Section 4.03 of the Plan (treating him as if he were listed in an Appendix A), minus his Pre-AJCA Benefit (expressed as an actuarially equivalent single life annuity commencing on the date as of which his Post-AJCA Benefit
commences). For purposes of calculating an Appendix D Participant’s Post-AJCA Benefit, actuarial equivalence shall be determined using the same assumptions as were used to calculate the Pre-AJCA Benefit set forth in Section D-3.01.

 No Post-AJCA Benefit shall be payable to, or on behalf of, any individual who is not an Active Participant on or after
January 1, 2005. 
  

	D-4.	TIMING AND FORM OF PAYMENT 

  

	 	D-4.01.	 Time and Form of Payment of Pre-AJCA Benefit. An Appendix D Participant’s Pre-AJCA Benefit shall commence (a) at the time and in the form set forth in Section
E-3.3 (if he terminates employment with the Employer and Affiliates at age 62 or older) or (b) at the time and in the form set forth in Section E-4.3 (if he terminates employment with the Employer and Affiliates before age 62). To the extent
permitted under Section E-7 and Sections E-3.3 and E-4.3 (as applicable), an Appendix D Participant may elect to receive his Pre-AJCA Benefit in one of the optional forms set forth in Section E-7.2. 

  

	 	D-4.02.	  Time and Form of Payment of Post-AJCA Benefit. An Appendix D Participant’s Post-AJCA Benefit shall commence on the date set forth in Section

  

 D-2 

	 	 
4.04(a) of the Plan (with the first payment being adjusted as described in Section 4.04(a)) and shall be paid in the following forms:

  

	 	(a)	The portion (if any) of his Grandfathered Benefit that exceeds the value of his Pre-AJCA Benefit shall be paid in a lump sum, determined using the assumptions described in
Section 4.04(c)(1) of the Plan; and 

  

	 	(b)	The portion of his Post-AJCA Benefit that exceeds the value of his Grandfathered Benefit shall be paid in the form set forth in Section 4.04(c)(2) of the Plan (as if he were
listed in Appendix A). 

  

	D-5.	DISABILITY 

 Section 4.05 of the Plan shall
apply with respect to any Appendix D Participant. If an Appendix D Participant terminates employment as a result of becoming Totally and Permanently Disabled, he shall receive the benefit set forth in Section D-3, at the time and in the form set
forth in Section D-4. 
  

	D-6.	DEATH 

  

	 	D-6.01.	 Death Benefit with Respect to Pre-AJCA Benefit. 

  

	 	(a)	If an Appendix D Participant dies before payment of his Pre-AJCA Benefit commences and he is survived by his Spouse, his Spouse shall receive the Spousal Survivor Benefit set forth
in Section E-9, except that the amount described in Section E-9.2 shall be of Actuarial Equivalent Value (within the meaning of Section E-9.2) to the Appendix D Participant’s Pre-AJCA Benefit (as opposed to the “single life annuity
computed with respect to the deceased Participant pursuant to subsection 3.1, 4.1 or 5.1, whichever is applicable”). 

  

	 	(b)	If an Appendix D Participant begins receiving his Pre-AJCA Benefit at the time and in the form described in Section E-4.3 and dies before he receives his entire Pre-AJCA Benefit,
his Beneficiary (within the meaning of Section E-8.3) shall receive the Death Benefit set forth in Section E-8, except that the term “Early Benefit” shall be replaced with “Pre-AJCA Benefit” each time it appears. The death
benefit described in this Section D-6.01(b) shall not be payable on behalf of any Appendix D Participant who, pursuant to Section E-7, elects to receive his benefit in an optional form. 

  

	 	D-6.02.	 Death Benefit with Respect to Post-AJCA Benefit. 

  

	 	(a)	If an Appendix D Participant dies before payment of his Post-AJCA Benefit commences and he is survived by his Spouse, his Spouse shall receive the preretirement death benefit
described in Section 4.06(b)(1) of the Plan, calculated based on his Post-AJCA Benefit (as opposed to his full benefit under the Plan or his Pension or Accrued Benefit (each within the meaning of the applicable Qualified Plan)).

  

	 	(b)	 If an Appendix D Participant dies before payment of his Post-AJCA Benefit commences and he is not survived by a Spouse, his beneficiary (if any) shall receive the
preretirement death benefit described in Section 4.06(c) of the Plan, calculated based on his Post-AJCA Benefit (as 

  

 D-3 

	 	 
opposed to his full benefit under the Plan or his Pension or Accrued Benefit (each within the meaning of the applicable Qualified Plan)).

  

	D-7.	FORFEITURE 

  

	 	D-7.01.	 Forfeiture of Pre-AJCA Benefit. The “Competition” and “Termination for Cause” provisions set forth in Sections E-10.1 and E-10.2 shall apply with
respect to an Appendix D Participant’s Pre-AJCA Benefit. 

  

	 	D-7.02.	 Forfeiture of Post-AJCA Benfeit. The forfeiture provisions set forth in Section 5.02 of the Plan shall apply only with respect to an Appendix D Participant’s
Post-AJCA Benefit. 

  

	D-8.	CHANGE OF CONTROL 

  

	 	D-8.01.	 Effect of Change of Control on Pre-AJCA Benefit. In case of a “Change in Control” within the meaning of Section E-10.3, the provisions set forth in Section
E-10.3 shall apply only with respect to an Appendix D Participant’s Pre-AJCA Benefit (as opposed to the “Plan Benefit” described in Section E-10.3). 

  

	 	D-8.02.	 Effect of Change of Control on Post-AJCA Benefit. In case of a “Change of Control” within the meaning of Section 5.03(c) of the Plan, the provisions set
forth in Section 5.03 of the Plan shall apply only with respect to an Appendix D Participant’s Post-AJCA Benefit (as opposed to his entire Vested Benefit). 

  

	D-9.	OTHER SPECIAL PROVISIONS 

 Unless provided otherwise in this Appendix D, all rights and features set forth in the Pre-2004 Plan shall be preserved with respect to Pre-AJCA Benefits, except that the right to an ECAP Credit in Lieu of a Distribution (as set forth in
Section E-10.5) shall be available only if the required election was made before January 1, 2005. 
  

 D-4 

 APPENDIX E: TERMS OF THE PRE-2004 PLAN 
 TABLE OF CONTENTS 
  

							
	 E-1.
	 	GENERAL	  	E-1
		 	 E-1.1
	  	History and Effective Date	  	E-1
		 	 E-1.2
	  	Purpose of Plan	  	E-1
		 	 E-1.3
	  	Purpose of Appendix E	  	E-1
		 	 E-1.4
	  	Plan Funding and Administration	  	E-1
		 	 E-1.5
	  	Applicable Law	  	E-2
		 	 E-1.6
	  	Gender and Number	  	E-2
		 	 E-1.7
	  	Assignment	  	E-2
		 	 E-1.8
	  	Notices	  	E-2
			
	 E-2.
	 	PARTICIPATION	  	E-2
		 	 E-2.1
	  	Eligibility for Participation	  	E-2
		 	 E-2.2
	  	Participation Not Contract of Employment	  	E-2
			
	 E-3.
	 	BASIC BENEFIT	  	E-3
		 	 E-3.1
	  	Eligibility for Basic Benefit	  	E-3
		 	 E-3.2
	  	Amount of Basic Benefit	  	E-3
		 	 E-3.3
	  	Form and Time of Payment of Basic Benefit	  	E-3
		 	 E-3.4
	  	Final Average Earnings	  	E-3
		 	 E-3.5
	  	Earnings	  	E-4
		 	 E-3.6
	  	Other Benefits	  	E-4
			
	 E-4.
	 	EARLY BENEFIT	  	E-4
		 	 E-4.1
	  	Eligibility for Early Benefit	  	E-4
		 	 E-4.2
	  	Amount of Early Benefit	  	E-5
		 	 E-4.3
	  	Form and Time of Payment of Early Benefit	  	E-5
			
	 E-5.
	 	PRE-AGE 55 BENEFIT	  	E-5
		 	 E-5.1
	  	Eligibility for Pre-Age 55 Benefit	  	E-5
		 	 E-5.2
	  	Amount of Pre-Age 55 Benefit	  	E-5
		 	 E-5.3
	  	Form and Time of Payment of Pre-Age 55 Benefit	  	E-5
		 	 E-5.4
	  	Involuntary Termination	  	E-6
		 	 E-5.5
	  	Termination for Cause	  	E-6
			
	 E-6.
	 	DISABILITY BENEFIT	  	E-7
		 	 E-6.1
	  	Eligibility for Disability Benefit	  	E-7
		 	 E-6.2
	  	Amount of Disability Benefit	  	E-7
		 	 E-6.3
	  	Form and Time of Payment of Disability Benefit	  	E-7
			
	 E-7.
	 	OPTIONAL FORMS OF BENEFIT	  	E-7
		 	 E-7.1
	  	Request for Optional Payment Form	  	E-7
		 	 E-7.2
	  	Optional Forms of Benefit Payment	  	E-7
		 	 E-7.3
	  	Limitations on Optional Forms of Payment	  	E-8

							
	 E-8.
	 	DEATH BENEFIT	  	E-8
		 	 E-8.1
	  	Eligibility for Death Benefit	  	E-8
		 	 E-8.2
	  	Amount of Death Benefit	  	E-8
		 	 E-8.3
	  	Beneficiary	  	E-8
	 E-9.
	 	SPOUSAL SURVIVOR BENEFIT	  	E-9
		 	 E-9.1
	  	Eligibility for Spousal Survivor Benefit	  	E-9
		 	 E-9.2
	  	Amount of Spousal Survivor Benefit	  	E-9
		 	 E-9.3
	  	Form and Time of Payment of Spousal Survivor Benefit	  	E-9
		 	 E-9.4
	  	Reduction for Spousal Survivor Benefit	  	E-9
	 E-10.
	 	SPECIAL PROVISIONS AFFECTING PAYMENT OF BENEFITS	  	E-10
		 	 E-10.1
	  	Competition	  	E-10
		 	 E-10.2
	  	Termination for Cause	  	E-10
		 	 E-10.3
	  	Payments After a Change in Control	  	E-10
		 	 E-10.4
	  	Emergency Payments	  	E-13
		 	 E-10.5
	  	ECAP Credit in Lieu of Distribution	  	E-13
		 	 E-10.6
	  	Payment to Incapacitated Persons	  	E-14
		 	 E-10.7
	  	Withholding	  	E-14
	 E-11.
	 	DISPUTE RESOLUTION	  	E-14
		 	 E-11.1
	  	Claims Procedures	  	E-14
		 	 E-11.2
	  	Records, Data and Information	  	E-14
	 E-12.
	 	AMENDMENT AND TERMINATION	  	E-14
		 	 E-12.1
	  	Amendment and Termination	  	E-14
		 	 E-12.2
	  	Contingencies Affecting the Employers	  	E-14
		 	 E-12.3
	  	Protected Benefits	  	E-14

  

 E-ii 

	E-1.	GENERAL 

 E-1.1. History and
Effective Date. Effective January 1, 1982, The Mead Corporation, an Ohio corporation (“Mead”) established The Mead Corporation Supplemental Executive Retirement Plan, then known as “The Mead Management Income Parity
Plan,” (the “Plan”). The Plan was subsequently amended and restated, effective January 1, 1985, amended, effective November 1, 1986, October 1, 1987, October 28, 1989 and February 28, 1991, again
amended and restated, effective July 1, 1992, again amended and restated, effective January 1, 1997, and again amended, effective January 25, 2002. Following the transactions described in Section 1.01(a) of the Plan, MeadWestvaco
Corporation (“MeadWestvaco”) assumed sponsorship of the Plan. This Appendix E sets forth the provisions of the Plan as in effect on January 28, 2004. 
 The Plan is intended to be a “top hat plan” (within the meaning of the Employee Retirement Income Security Act of 1974).

 E-1.2. Purpose of Plan. The purpose of the Plan is to supplement the amount of the “Pension” (as defined in the
MeadWestvaco Corporation Retirement Plan for Salaried and Non-Bargained Hourly Employees, which is the successor to The Mead Retirement Plan) payable from the MeadWestvaco Corporation Retirement Plan for Salaried and Non-Bargained Hourly Employees
(the “MeadWestvaco Retirement Plan”) to or on account of certain executives of MeadWestvaco or of certain “Affiliates” (as defined below) of MeadWestvaco and, thereby, enhance MeadWestvaco’s ability to: 
 (a) recruit mid-career executives; 
 (b) retain and motivate employed executives; and 
 (c) permit earlier than normal retirement
of executives when it is found to be desirable. 
 The term “Affiliate” means any entity during the period that it is, along with MeadWestvaco, a
member of a controlled group of corporations, a controlled group of trades and businesses, an affiliated service group or any other entity designated by the Secretary of the Treasury as described in sections 414(b), 414(c), 414(m), and 414(o),
respectively, of the Internal Revenue Code of 1986 (the “Code”). MeadWestvaco and any Affiliate designated by the Compensation and Organizational Development Committee of MeadWestvaco’s Board of Directors (the “Committee”)
and employing a “Participant” (as described in subsection E-2.1) hereunder are sometimes referred to below, individually, as an “Employer” and, collectively, as the “Employers.” 
 E-1.3. Purpose of Appendix E. The purpose of this Appendix E is to set forth the terms of the Plan as in effect on January 28, 2004. This
Appendix E shall not be construed in a manner that results in a “material modification” (within the meaning of Section 885(d) of the American Jobs Creation Act of 2004) of the Plan. 
 E-1.4. Plan Funding and Administration. The benefits payable under the Plan are unfunded and are payable, when due, from the general assets of

 
MeadWestvaco; provided, however, that MeadWestvaco, in its discretion, may establish or maintain a trust to pay such amounts, which trust shall be subject to
the claims of MeadWestvaco’s unsecured general creditors in the event of MeadWestvaco’s bankruptcy or insolvency; and provided, further, that MeadWestvaco shall remain responsible for the payment of any such amounts which are not so paid
by any such trust. The Plan shall be administered by the Senior Vice President of MeadWestvaco with responsibility for human resources or such other person as is hereafter named by the Committee (the “Administrator”) who shall have the
rights, powers and duties with respect to the Plan that are hereinafter set forth and the authority to establish such rules, regulations and interpretations with respect to the Plan as are reasonably necessary to administer the Plan. Any such rules,
regulations and interpretations shall be uniformly applied to all persons similarly situated. 
 E-1.5. Applicable Law. The Plan will
be construed and administered in accordance with the laws of the State of Ohio to the extent that those laws are not preempted by the laws of the United States of America. 
 E-1.6. Gender and Number. Where the context admits, words in any gender include any other gender, words in the singular will include the plural
and words in the plural include the singular. 
 E-1.7. Assignment. No Plan right or interest of any person under the Plan shall be
assignable or transferable, in whole or in part, either directly or otherwise, including without limitation thereto, by execution, levy, attachment, garnishment, pledge or in any other manner, but excluding transfers by reason of death or mental
incompetency; no attempted assignment or transfer thereof shall be effective; and no such right or interest shall be liable for, or subject to, any obligation or liability of any Participant or Beneficiary; except that a Participant may direct that
payments be made during his lifetime, when due, to a trust established by him and evidenced to the Administrator to be a trust created as a grantor trust within the meaning of section 671 of the Code. 
 E-1.8. Notices. Any notice required or permitted to be given to any person under the Plan will be properly given if delivered or mailed, postage
prepaid, to that person at his last post office address as shown on his Employer’s records. Any notice to the Committee or the Administrator shall be properly given if delivered or mailed, postage prepaid, to the Corporate Secretary of
MeadWestvaco Corporation at its principal place of business. Any notice required under the Plan may be waived by the person entitled to notice. 
  

	E-2.	PARTICIPATION 

 E-2.1. Eligibility
for Participation. Each individual who was a participant in the Plan on January 29, 2002 shall continue as a Participant, subject to the terms and conditions of the Plan. 
 Subject to the terms and conditions of the Plan, an individual who has once become a Participant in the Plan shall continue as such, notwithstanding his transfer to employment with an Employer in a non-designated job
classification or with an Affiliate. 
 E-2.2. Participation Not Contract of Employment. The Plan does not constitute a contract of
employment and participation in the Plan will not 

  

 E-2 

 
give any employee the right to be retained in the employ of the Employers or Affiliates nor give any person any right or claim to any benefit under the terms
of the Plan unless such right or claim has specifically accrued under the terms of the Plan. 
  

	E-3.	BASIC BENEFIT 

 E-3.1.
Eligibility for Basic Benefit. If a Participant’s employment with the Employers and the Affiliates is terminated (for a reason other than his death) at or after he has attained age 62 years, he shall be entitled to receive a “Basic
Benefit” in an amount determined pursuant to the provisions of subsection E-3.2 and paid in the form and at the time provided in subsection E-3.3. 
 E-3.2. Amount of Basic Benefit. A Participant’s Basic Benefit is an amount that, when expressed as an annual amount payable as a single life annuity commencing on the first day of the calendar month
coincident with or next following the date of his termination of employment, is equal to: 
 (a) 55 percent of his “Final
Average Earnings” (as defined in subsection E-3.4); 
 REDUCED BY 
 (b) the amount of the Participant’s “Other Benefits” (as defined in subsection E-3.6); and 
 FURTHER REDUCED BY 
 (c) the reduction, if any, required by subsection E-9.4 which relates to “Spousal Survivor Benefits” (as described in subsection E-9.1). 
 E-3.3. Form and Time of Payment of Basic Benefit. Except as otherwise specifically provided by Section E-7, relating to optional forms of payment, the “Actuarial Present Value” (as defined in the
MeadWestvaco Retirement Plan) of the amount of a Participant’s Basic Benefit will be distributed to him in the form of a single, lump sum payment, on or as soon as practicable after the date on which the Participant’s employment with the
Employers and the Affiliates is terminated. 
 E-3.4. Final Average Earnings. The term “Final Average Earnings” means, with
respect to any Participant, the average of his annual “Earnings” (as defined in subsection E-3.5) for the highest 3 calendar years of his employment with the Employers (or his average monthly Earnings if less than 3 calendar years of such
employment) selected from the 11 calendar years during which he received Earnings commencing with the earlier of the calendar year in which the Participant attains age 62 years or terminates his employment with the Employers and the 10 preceding
calendar years. Notwithstanding the foregoing, for purposes of determining the amount of a Spousal Survivor Benefit payable pursuant to Section E-9 on account of a Participant who has not attained age 55 years on the date of his death, it shall be
assumed that the amount of his Final Average Earnings is equal to the amount of his “Earnings” (as defined in the MeadWestvaco Retirement Plan) during the calendar year next preceding the year of his death. 
  

 E-3 

 E-3.5. Earnings. For any calendar year, the term “Earnings” means, with respect to any
Participant, the cash remuneration and the value of property given to him in lieu of cash (without regard to any restriction or risk of forfeiture), payable to him in that year by the Employers in the form of base pay, bonuses, short term incentive
compensation and amounts payable in lieu of short term incentive compensation in that year (and any portion of any such amounts deferred by the Participant pursuant to the terms of any deferred compensation arrangement maintained by the Employers).
In no event shall a Participant’s Earnings: 
 (a) include payments from long term incentive compensation plans, stock
option plans, stock appreciation rights, severance payments, special agreements, contracts or payments, expense reimbursements or relocation allowances; or 
 (b) exceed 2 times his base pay. 
 E-3.6. Other Benefits. The term “Other Benefits” means,
with respect to any Participant, the sum of: 
 (a) 50 percent of the annual primary Social Security benefit payable (or, in
the case of a Participant whose benefit is being determined prior to the date he attains age 62 years, estimated by the Administrator, in his absolute discretion, to be payable) to the Participant at age 62; 
 (b) the annual amounts (expressed as single life annuities) determined to be payable to the Participant under The MeadWestvaco Retirement
Plan, The Mead Corporation Section 415 Excess Benefit Plan, The Mead Corporation Excess Earnings Benefit Plan, and the MeadWestvaco Corporation Retirement Restoration Plan (the “MeadWestvaco Plans”), but determined without taking into
account any restructuring or other supplemental benefits payable to the Participant under the MeadWestvaco Plans, as of his termination date, or such other determination date as is specifically provided with respect to a particular Plan Benefit and
disregarding any reduction on account of a “qualified domestic relations order” (as defined in section 414(p) of the Code); and 
 (c) the annual amount (expressed as a single life annuity) payable to the Participant from the employer-funded portion of any deferred, vested or lump sum benefit earned under a “Prior Retirement Plan” (that
is, any defined benefit plan or similar primary retirement plan intended to meet the requirements of section 401(a) of the Code (including any governmental plan) maintained by any previous employer of the Participant) prior to age 55 and payable no
earlier than 10 years prior to the date on which the Participant was employed by the Employers and Affiliates, but disregarding any reduction on account of a qualified domestic relations order. 
  

	E-4.	EARLY BENEFIT 

 E-4.1.
Eligibility for Early Benefit. If a Participant’s employment with the Employers and the Affiliates is terminated (for a reason other than his death) at or after he has attained age 55 years, but prior to the date on which he attains age
62 years, he shall be entitled to receive an “Early 

  

 E-4 

 
Benefit” in an amount determined pursuant to the provisions of subsection E-4.2 and paid in the form and at the time provided in subsection E-4.3.

 E-4.2. Amount of Early Benefit. A Participant’s Early Benefit is an amount determined in accordance with the provisions of
subsection E-3.2, but computed by reducing the percentage “55 percent” found in paragraph E-3.2(a) by 1/4 of one percent for each full month by which the commencement of payment of the Participant’s Early Benefit precedes the first
day of the calendar month coincident with, or next following, the date on which he attains age 62 years. 
 E-4.3. Form and Time of
Payment of Early Benefit. Except as otherwise specifically provided by Section E-7, relating to optional forms of payment, the amount of a Participant’s Early Benefit shall be payable monthly, in the form of a single life annuity, from the
first day of the calendar month next following his termination of employment through the calendar month during which the Participant attains age 62 years. As of the first day of the calendar month next following the date on which the Participant
attains age 62 years, an amount equal to the Actuarial Present Value of his Early Benefit, (which Actuarial Present Value shall be reduced by the aggregate amount of the monthly payments previously made to him and increased by interest on the
undistributed portion of his Early Benefit calculated from his termination date to the payment date), determined as of his termination date, will be distributed to the Participant in the form of a single, lump sum payment. 
  

	E-5.	PRE-AGE 55 BENEFIT 

 E-5.1. Eligibility for Pre-Age 55 Benefit. If a Participant’s employment with the Employers and the Affiliates is “Involuntarily Terminated” (as described in subsection E-5.4) prior to the date
on which he attains age 55 years, or if his employment is terminated prior to that date for any other reason approved for purposes of the Plan by MeadWestvaco’s Chief Executive Officer, he shall be entitled to receive a “Pre-Age 55
Benefit” in an amount determined pursuant to the provisions of subsection E-5.2 and paid in the form and at the time provided in subsection E-5.3. 
 E-5.2. Amount of Pre-Age 55 Benefit. A Participant’s Pre-Age 55 Benefit is an amount determined in accordance with the provisions of subsection E-3.2 as of the date he attains age 62, but computed by:

 (a) reducing the percentage “55 percent” found in paragraph E-3.2(a) by 1/4 of one percent for each full month by
which the date of the Participant’s termination of employment with the Employers and the Affiliates precedes the first day of the calendar month coincident with, or next following, the date on which he will attain age 62 years; and 

(b) by assuming, for purposes of determining the amount of his Other Benefits attributable to the MeadWestvaco Plans, that he will
continue as a Participant under those Plans until the date on which he will attain age 55 years and that his benefits under the MeadWestvaco Plans will be payable on that date. 
 E-5.3. Form and Time of Payment of Pre-Age 55 Benefit. Except as otherwise specifically provided by Section E-7, an amount equal to the 

  

 E-5 

 
Actuarial Present Value of a Participant’s Pre-Age 55 Benefit will be distributed to the Participant, in a single, lump sum payment as of the first day
of the calendar month coincident with or next following the date on which the Participant attains age 62 years. 
 E-5.4. Involuntary
Termination. The term “Involuntary Termination” means, with respect to any Participant, the termination of the Participant’s employment with the Employers and the Affiliates, either: 
 (a) at the option of his employer, for a reason other than “Cause” (as defined in subsection E-5.5); or 
 (b) at the Participant’s option, exercised within the 24-month period following the occurrence, without the express consent of the
Participant, of any one or more of the following events: 
 (i) the assignment of duties to the Participant which are
substantially inconsistent with the Participant’s duties, responsibilities and status at the time of the assignment, or that constitute a substantial reduction or alteration in the nature or status of such duties and responsibilities;

 (ii) a reduction in the amount of the Participant’s base pay; 
 (iii) the transfer of the work location of the Participant to a place that is in excess of 25 miles from his work location at the time the
transfer is made; 
 (iv) the failure of the Participant’s Employer or Affiliate employer to continue in effect any of
its employee benefit plans, policies, practices or arrangements, including, but not limited to, those plans, policies and arrangements maintained solely for the benefit of key management personnel in which the Participant participates, or the
failure of it to continue the Participant’s participation therein on substantially the same basis, both in terms of the amount of benefits provided and the level of participation relative to other participants, unless such benefits, policies
and arrangements are replaced by one or more alternative or substitute plans, policies or arrangements providing substantially equivalent benefits in the aggregate. 
 The determination of whether an event described in paragraph (b) above has occurred shall be made by the Committee, based on its comparison of circumstances existing after the alleged occurrence with the
circumstances prevailing immediately prior thereto. 
 E-5.5. Termination for Cause. For purposes of the Plan, a termination of a
Participant’s employment for “Cause” shall mean termination as a result of the Participant’s: 
 (a)
willful and continued failure to perform duties with the Employers and Affiliates (other than any such failure resulting from an Involuntary Termination) after a written demand for substantial performance has been delivered to the Participant
specifically 

  

 E-6 

 
identifying the manner in which the Employer or Affiliate, as the case may be, believes the Participant has not substantially performed such duties and the
Participant has failed to resume substantial performance on a continuous basis within 14 days of receiving such demand; 
 (b)
willfully engaging in conduct which the Committee determines is demonstrably and materially injurious to the Employers or Affiliates, monetarily or otherwise; or 
 (c) conviction of a felony, or conviction of a misdemeanor which impairs the Participant’s ability to perform his duties with the
Employer or Affiliate employing him. 
  

	E-6.	DISABILITY BENEFIT 

 E-6.1. Eligibility for Disability Benefit. If a Participant’s employment with the Employers and the Affiliates is terminated by reason of his becoming “Disabled” (as defined in the MeadWestvaco Retirement Plan) prior
to the date on which he attains age 62 years and he continues to be Disabled until age 62, he shall be eligible to receive a “Disability Benefit” in an amount determined pursuant to the provisions of subsection E-6.2 and paid in the form
and at the time provided in subsection E-6.3. 
 E-6.2. Amount of Disability Benefit. A Participant’s Disability Benefit is an
amount determined in accordance with the provisions of subsection E-3.2, but expressed as a single life annuity commencing as of the later of the date the Participant attains age 62 or the date as of which Pension payments to him commence under the
MeadWestvaco Retirement Plan. 
 E-6.3. Form and Time of Payment of Disability Benefit. Except as otherwise specifically provided by
Section E-7, relating to optional forms of payment, the Actuarial Present Value of the amount of a Participant’s Disability Benefit will be distributed to him in the form of a single, lump sum payment as soon as practicable after the later of
the date on which the Participant attains age 62 years or the date as of which Pension payments to him commence under the MeadWestvaco Retirement Plan. 
  

	E-7.	OPTIONAL FORMS OF BENEFIT 

 E-7.1. Request for Optional Payment Form. A Participant, by writing filed with the Administrator at least one year prior to his termination date
(or within 60 days after becoming Disabled) in such form as the Administrator may require, may request to have his Plan Benefit paid in an optional form permitted by subsection E-7.2. Any such request shall be deemed to be approved by the
Administrator unless disapproved within 15 days of its receipt. Any such approved request shall be void and of no force or effect if the Participant dies before payment in the optional form requested begins. 
 E-7.2. Optional Forms of Benefit Payment. Subject to the provisions of subsection E-7.3, the optional forms of payment under the Plan are:

 (a) a single life annuity in the amount calculated under subsection E-3.2, E-4.2, E-5.2 or E-6.2, whichever is applicable,
payable commencing at the time permitted under subsection E-3.3, E-4.3, E-5.3 or E-6.3, whichever is applicable; 
  

 E-7 

 (b) any optional form of benefit permitted (assuming, for this purpose, that election of
an optional form of Disability Pension is permitted) under the provisions of the MeadWestvaco Retirement Plan at the time the request is made, the amount of which shall be determined by applying the actuarial assumptions utilized under that plan;
and 
 (c) in the case of an Early Benefit payable monthly pursuant to subsection E-4.3, by forgoing those monthly amounts and
instead receiving the Actuarial Present Value of the Early Benefit computed as of age 62, but without regard to the percentage reduction otherwise required by subsection E-4.2, payable in a single, lump sum distribution as of the first day of the
month coincident with, or next following, the date on which the Participant attains age 62 years. 
 E-7.3. Limitations on Optional Forms
of Payment. No optional form of payment shall permit: 
 (a) payment of any single, lump sum amount to a Participant prior
to the first day of the month coincident with, or next following, the date on which the Participant attains age 62 years; or 
 (b) payment of a Disability Benefit prior to the time specified in subsection E-6.3. 
  

	E-8.	DEATH BENEFIT 

 E-8.1.
Eligibility for Death Benefit. If a Participant dies after payment of monthly amounts of his Early Benefit begins under subsection E-4.3 and prior to receiving his entire Early Benefit, a Death Benefit, in an amount determined under
subsection E-8.2, shall be paid, as soon as practicable, in a single, lump sum, to his “Beneficiary” (as defined in subsection E-8.3). Except as specifically provided by an optional form of payment permitted by subsection E-7.2 and by
Section E-9, relating to “Spousal Survivor Benefits,” no other amount shall be payable to any person from the Plan on account of the death of a Participant. 
 E-8.2. Amount of Death Benefit. The Death Benefit payable on account of a deceased Participant shall be an amount equal to the Actuarial Present Value of his Early Benefit (which Actuarial Present Value shall
be reduced by the aggregate amount of the monthly payments previously made to him and increased by interest on the undistributed portion of his Early Benefit calculated from his termination date to the payment date), determined as of his termination
date. 
 E-8.3. Beneficiary. The term “Beneficiary” means, with respect to any Participant, such natural or legal person or
persons as may be designated by him (who may be designated contingently or successively) to receive the Death Benefit payable if he dies before a total payment of his Early Benefit is made to him. A Beneficiary designation will be effective with
respect to a Participant only when a signed and dated beneficiary designation form is filed with the Committee while the Participant is alive, which form will cancel any beneficiary designation form signed and filed earlier. If a Participant is not
survived by a Beneficiary the Committee shall pay the Death Benefit to his “Spouse” (as defined in the MeadWestvaco Retirement Plan) or, if he is not survived by a Spouse, to the legal representative or representatives of the estate of the
Participant. 
  

 E-8 

	E-9.	SPOUSAL SURVIVOR BENEFIT 

 E-9.1. Eligibility for Spousal Survivor Benefit. Subject to the reduction required by subsection E-9.4, if a Participant dies while employed by the Employers or after his termination of employment with the
Employers, but, prior to the date on which he is first receives payment of a Benefit to which he is entitled under Section E-3, E-4 or E-5, his Spouse, if any, shall be eligible to receive a Spousal Survivor Benefit, in an amount determined under
subsection E-9.2, if she has a right to receive a Pre-Retirement Survivor Pension under the MeadWestvaco Retirement Plan and has not waived that right. 
 E-9.2. Amount of Spousal Survivor Benefit. The Spousal Survivor Benefit payable to a Spouse on account of a deceased Participant is an amount determined by: 
 (a) calculating the amount, expressed as a joint and survivor annuity of 50, 66 2/3 or 75 percent (whichever is payable to the Spouse as a
Pre-Retirement Survivor Pension under the MeadWestvaco Retirement Plan), which is of Actuarial Equivalent Value to a single life annuity computed with respect to the deceased Participant pursuant to subsection E-3.1, E-4.1 or E-5.1, whichever is
applicable; and 
 (b) then determining the annual amount that would be payable to the surviving Spouse on the basis of the
joint and survivor annuity computed under paragraph (a) above. 
 Notwithstanding the provisions of paragraph E-3.2(b) to the contrary, in computing the
amount of a “Spousal Survivor Benefit” with respect to the surviving Spouse of a deceased Participant who had not attained age 55 years on the date of his death, the Other Benefit attributable to the MeadWestvaco Retirement Plan shall be
an amount equal to the Participant’s “Accrued Benefit” (as defined under that plan) as of the date of his death, assuming that the amount of his Final Average Earnings used in computing his Accrued Benefit equaled the
“Earnings” (as defined in the MeadWestvaco Retirement Plan) payable to him by the Employers during his last full calendar year of employment by them and that his “Pension” under the MeadWestvaco Retirement Plan would be payable
at the date the deceased Participant would have attained age 55 years. 
 E-9.3. Form and Time of Payment of Spousal Survivor Benefit.
The Actuarial Present Value (determined taking into account the date on which a Benefit would have commenced under Section E-3, E-4 or E-5, whichever would have been applicable, and the surviving Spouse’s age on that date) of the amount
determined under paragraph E-9.2(b) will be distributed to the surviving Spouse, in the form of a single, lump sum payment, as soon as practicable after the date of the Participant’s death. 
 E-9.4. Reduction for Spousal Survivor Benefit. As provided by paragraph E-3.2(c), the amount of a Participant’s Plan Benefit will be reduced
by a percentage thereof, determined in accordance with the following table, for the portion of the calendar period beginning on the date on which the Participant attains age 55 years and ending on the earlier of the date payment of his Benefit
begins or the date on which he attains age 62 years, during which his Spouse is eligible to receive a Pre-Retirement Survivor Pension under the MeadWestvaco Retirement Plan. The percentage reduction 

  

 E-9 

 
will be computed on a pro rata basis for completed months of coverage which are less than a whole year. 
  

			
	 Percentage of Benefit
 Payable to Spouse
	  	 Percentage Reduction
 for Each Full
Year
 of Coverage

		
	 50 percent
	  	 1/2 of one percent

		
	 66 2/3 percent
	  	 2/3 of one percent

		
	 75 percent
	  	 3/4 of one percent

 Notwithstanding the foregoing table, in no event will a percentage reduction under this Plan be greater than the
percentage reduction for a Pre-Retirement Survivor Pension of a like amount under the MeadWestvaco Retirement Plan. 
  

	
	 E-10. SPECIAL PROVISIONS AFFECTING PAYMENT OF
BENEFITS.

 E-10.1. Competition. Subject to his right of appeal under Section E-11, if the Committee
determines that a Participant, without the express prior written consent of MeadWestvaco, directly or indirectly, individually or as an agent, officer, director, employee, shareholder (other than being the holder of any stock which represents a less
than one percent interest in a corporation), partner or in any other capacity whatsoever, after termination of employment and prior to attainment of age 62, has engaged, or is engaging, in any activity competitive with or adverse to the
Employer’s and Affiliate’s businesses or in the sale, distribution, production, or attempted sale, distribution or production, of any goods, products or services then sold or being developed by any Employer or Affiliate, all Benefits
otherwise payable at any time under the Plan shall be permanently forfeited and payment of Benefits, if commenced, shall cease. This subsection E-10.1 shall not apply to a Participant whose employment with the Employers and Affiliates terminates on
or after a “Change in Control” (as defined in subsection E-10.3) of MeadWestvaco. 
 E-10.2. Termination for Cause. Subject
to his right of appeal under Section E-11, if the employment of a Participant with the Employers and Affiliates is terminated for Cause, all Benefits otherwise payable to any person, at any time, under the Plan shall be automatically and permanently
forfeited. 
 E-10.3. Payments After a Change in Control. Upon the occurrence of a Change in Control of MeadWestvaco, the accrued
benefit of an employee who is a Participant on the date of the Change in Control shall immediately and fully vest; provided, however, that such benefit shall be forfeited pursuant to subsection E-10.2 hereof if the employment of the employee shall
be terminated for “Cause” as that term is defined in this Plan immediately prior to the Change in Control. If the employment of a Participant whose benefit has vested in accordance with the immediately preceding sentence is terminated
within 24 months after the date of a Change in Control for a reason other than death or Cause (as that term is defined in this Plan immediately prior to the Change in Control), he shall be entitled to receive a “Termination Benefit,”
payable within 30 days after his termination date. A Participant’s Termination Benefit is a single lump sum amount equal to the “Actuarial Present Value” of the amounts that would have been his Plan Benefit if determined as of the
date of his termination of employment pursuant to the provisions of the Plan in effect immediately prior to the 

  

 E-10 

 
Change in Control. The Actuarial Present Value of those amounts shall be determined for purposes of this Section by applying the actuarial assumptions and
methods being utilized for that purpose under the MeadWestvaco Retirement Plan on the day prior to the date of the Change in Control. For purposes of computing the amount of the Plan Benefit: 
 (a) a Participant who has not attained age 55 years on the date of his actual termination of employment will be deemed to have had his
employment with the Employers and Affiliates Involuntarily Terminated on the date of his termination and his Pre-Age 55 Benefit shall be computed pursuant to subsection E-5.2 hereof without applying the assumption contained in subsection E-5.2(b)
but, instead, determining the Other Benefits attributable to MeadWestvaco Plans based on the Deferred Vested Pension on a Participant’s employment termination with the Employers and Affiliates; and 
 (b) in the case of a Participant terminated on account of becoming Disabled, it shall be assumed that he will continue to be Disabled
until he attains age 62 years. 
 If a Participant, surviving Spouse or Beneficiary is receiving payment of periodic Plan Benefits on the date of a Change in
Control, the Actuarial Present Value of any remaining payments (determined as of the day immediately preceding that date) shall be payable to him, in a single, lump sum, within 30 days of the date of the Change in Control. For purposes of the Plan,
a “Change in Control” shall be deemed to have occurred if an event set forth in any of the following paragraphs shall have occurred: 
 (i) the date of expiration of a Tender Offer (other than an offer by MeadWestvaco ), if the offeror acquires Shares pursuant to such Tender Offer; 
 (ii) the date of approval by the shareholders of MeadWestvaco of a definitive agreement: (x) for the merger or consolidation of
MeadWestvaco or any direct or indirect subsidiary of MeadWestvaco into or with another corporation, other than (1) a merger or consolidation which would result in the voting securities of MeadWestvaco outstanding immediately prior thereto
continuing to represent (i) in the case of a merger or consolidation of MeadWestvaco, either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof, or (ii) in the case of a
merger or consolidation of any direct or indirect subsidiary of MeadWestvaco, either by remaining outstanding if MeadWestvaco continues as a parent of the merged or consolidated subsidiary or by being converted into voting securities of the
surviving entity or any parent thereof) at least 51% of the combined voting power of the voting securities of MeadWestvaco or such surviving or parent entity outstanding immediately after such merger or consolidation, or (2) a merger or
consolidation effected to implement a recapitalization of MeadWestvaco (or similar transaction) in which no Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of MeadWestvaco (not
including in the securities Beneficially Owned by such Person any securities acquired directly from MeadWestvaco or its Affiliates) representing 25% or 

  

 E-11 

 
more of the combined voting power of MeadWestvaco’s then outstanding securities, or (y) for the sale or disposition of all or substantially all of
the assets of MeadWestvaco, other than a sale or disposition by MeadWestvaco of all or substantially all of MeadWestvaco’s assets to an entity, at least 51% of the combined voting power of the voting securities of which are owned (directly or
indirectly) by shareholders of MeadWestvaco in substantially the same proportions as their ownership of MeadWestvaco immediately prior to such sale or disposition; 
 (iii) (x) any Person is or becomes the Beneficial Owner of 25% or more of the voting power of the then outstanding securities of
MeadWestvaco (not including in the securities beneficially owned by such Person any securities acquired directly from MeadWestvaco or its affiliates), excluding any Person who becomes such a Beneficial Owner in connection with a transaction
described in clause (x) (1) of paragraph (ii) above or (y) the date of authorization, by both a majority of the voting power of MeadWestvaco and a majority of the portion of such voting power excluding the voting power of
interested Shares, of a control share acquisition (as such term is defined in Chapter 1701 of the Ohio Revised Code); and 
 (iv) a change in the composition of the Board of Directors such that individuals who were members of the Board of Directors on the date two years prior to such change (and any new directors (other than a director whose initial assumption of
office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of MeadWestvaco) who were elected, or were nominated for election, by
MeadWestvaco’s shareholders with the affirmative vote of at least two-thirds of the directors then still in office who either were directors at the beginning of such two year period or whose election or nomination for election was previously so
approved) no longer constitute a majority of the Board of Directors. 
 Notwithstanding the foregoing, a “Change in Control” shall not be deemed to
have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of MeadWestvaco immediately prior to such transaction or series of transactions
continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of MeadWestvaco immediately following such transaction or series of transactions. 
 “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 

“Beneficial Owner” shall have the meaning defined in Rule 13d-3 under the Exchange Act. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 
  

 E-12 

 “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in
Sections 13(d) and 14(d) thereof, except that such term shall not include (i) MeadWestvaco or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of MeadWestvaco or any of its
Affiliates, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the shareholders of MeadWestvaco in substantially the same proportions as
their ownership of stock of MeadWestvaco. 
 “Shares” shall mean shares of common stock, without par value, of MeadWestvaco Corporation.

 “Tender Offer” shall mean a tender offer or a request or invitation for tenders or an exchange offer subject to regulation under
Section 14(d) of the Exchange Act and the rules and regulations thereunder, as the same may be amended, modified or superseded from time to time. 
 E-10.4. Emergency Payments. If it is determined (as provided below) that a Participant or Beneficiary has experienced an “Unforeseeable Emergency” (as defined below), the terms and manner of payment
of Benefits provided in the Plan or selected by a Participant may be changed to the extent appropriate to satisfy the Participant’s or Beneficiary’s emergency need. The term “Unforeseeable Emergency” means severe financial
hardship to the Participant or Beneficiary resulting from a sudden and unexpected illness or accident of the Participant or Beneficiary or of a “dependent” (as defined in section 152(a) of the Code) of the Participant or Beneficiary, loss
of the Participant’s or Beneficiary’s property due to a casualty, or other similar extra-ordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant or Beneficiary. A determination with
respect to whether a Participant or Beneficiary has experienced an Unforeseeable Emergency shall be made: 
 (a) in the case
of a Participant employed, or last employed, by an Employer as other than an elected officer of the Employer and his Beneficiary, the Chairperson of the Committee; and 
 (b) in the case of a Participant employed, or last employed, by an Employer as an elected officer of the Employer and his Beneficiary, the
Committee. 
 The provisions of Section E-11 of the Plan shall not be applicable with respect to any determination made pursuant to this subsection E-10.4.

 E-10.5. ECAP Credit in Lieu of Distribution. A Participant who is also a Participant in The Mead Corporation Executive Capital
Accumulation Plan (“ECAP”) may elect to waive his right to receive any amount otherwise distributable to him pursuant to the provisions of the Plan and to have the same amount credited for his benefit (as of the date distribution would
have been made) and subsequently distributed to him under the terms of the ECAP. An election made by a Participant in accordance with the provisions of this subsection must be in such written form as the Committee shall decide and filed with the
Administrator at least three months prior to the Participant’s employment termination with the Employers and Affiliates with respect to distributions made on or after employment termination or, as an additional alternative, filed prior to a
Change in Control with respect to distributions 

  

 E-13 

 
made on or after a Change in Control. An election made by a Participant pursuant to the foregoing sentence is revocable at any time that is at least three
months prior to the date of employment termination with the Employer and Affiliates or a Change in Control, as appropriate. In no event shall this subsection be applicable to any amount distributable to any person other than a Participant.

 E-10.6. Payment to Incapacitated Persons. Notwithstanding any other provision of the Plan, if a Participant or other person
entitled to a Benefit payment under the Plan is determined by a court of competent jurisdiction to be physically, mentally or legally incapacitated and unable to manage his financial affairs and claim is made by a conservator or other person legally
charged by such court with the care of his person, the Committee shall make distributions to such conservator or other person. Any distribution made in accordance with this subsection shall fully acquit and discharge all persons from all further
liability on account thereof. 
 E-10.7. Withholding. The Administrator shall cause to be withheld from the amount of any Benefit paid
to a Participant or Beneficiary pursuant to the terms of the Plan any amount required to be withheld by federal, state or local law. 
  

	
	 E-11. DISPUTE RESOLUTION

 E-11.1. Claims Procedures. All disputes relating to benefits under the Plan shall be
reviewed and resolved in accordance with claims procedures established by the Administrator. Such claims procedures shall offer a reasonable opportunity for a full and fair review of each claim and shall be consistent with the requirements of 29
C.F.R. § 2560.503-1. 
 E-11.2. Records, Data and Information. Unless proven to the satisfaction of the Administrator to be
in error, the records, data and information of the Employers, Affiliates and administrators of the MeadWestvaco Plans shall be conclusive on all Participants, surviving Spouses and Beneficiaries with respect to all matters relating to the Plan.

  

	
	 E-12. AMENDMENT AND TERMINATION

 E-12.1. Amendment and Termination. MeadWestvaco expects the Plan to be permanent, but since
future conditions affecting MeadWestvaco cannot be anticipated or foreseen, MeadWestvaco must necessarily and does hereby reserve the right to amend, modify or terminate the Plan at any time by action of its Board of Directors. 
 E-12.2. Contingencies Affecting the Employers. In the event of a merger or consolidation of the Employer, or the transfer of substantially all of
the assets of the Employer to another corporation, such successor corporation shall be substituted for the Employer under the terms and provisions of the Plan. 
 E-12.3. Protected Benefits. If the Plan is terminated, revoked, or amended so as to decrease benefits provided under the Plan, the full benefits earned by each terminated Participant and Beneficiary shall not
be reduced. A Participant who is in active service at the time of a Plan termination, revocation or amendment shall be entitled to full Benefits under the prior provisions of the Plan; provided, however, that his Earnings for periods 

  

 E-14 

 
subsequent to such termination, revocation or amendment shall not be used in determining the amount of benefits based on Final Average Earnings that are
protected by this subsection. The time and manner of payment of Benefits protected by this subsection shall remain subject to the prior terms and conditions of the Plan. 
  

 E-15Officers' Certificate and Company Order

 Exhibit 4.1 
 UNITEDHEALTH GROUP INCORPORATED 
 $650,000,000 Floating Rate Notes due March 2, 2009

 Officers’ Certificate and Company Order 
 Pursuant to the Senior Debt Securities Indenture dated as of November 15, 1998, as amended by an Amendment to Indenture dated November 6, 2000
(collectively, the “Indenture”), between UnitedHealth Group Incorporated, a Minnesota corporation (the “Company”), and The Bank of New York, as Trustee (the “Trustee”) and resolutions adopted by the Company’s Board
of Directors on February 3, 2004 and August 2, 2005, this Officers’ Certificate and Company Order is being delivered to the Trustee to establish the terms of a series of Securities in accordance with Section 301 of the Indenture,
to establish the form of the Securities of such series in accordance with Section 201 of the Indenture, to request the authentication and delivery of the Securities of such series pursuant to Section 303 of the Indenture and to comply with
the provisions of Section 104 of the Indenture. This Officers’ Certificate and Company Order shall be treated for all purposes under the Indenture as a supplemental indenture thereto. 
 All conditions precedent provided for in the Indenture relating to (i) the establishment of a series of Securities, (ii) the establishment of
the form of Securities of such series and (iii) the procedures for authentication and delivery of such series of securities have been complied with. 
 Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 
 A. Establishment of a series of Securities pursuant to Section 301 of the Indenture. 
 There is
hereby established pursuant to Section 301 of the Indenture a series of Securities which shall have the following terms: 
 (1) The Securities shall bear the title “Floating Rate Notes due March 2, 2009” (referred to herein as the “Notes”). 
 (2) The aggregate principal amount of the Notes to be issued pursuant to this Officers’ Certificate and Company Order shall be limited to $650,000,000 except for (a) Notes authenticated and delivered upon
registration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, 1007 or 1205 of the Indenture, (b) Notes which, pursuant to Section 303 of the Indenture, are deemed never to have been
authenticated and delivered thereunder and (c) any Securities of this series which are issued in the manner contemplated by paragraph 18 hereof. 
 (3) Interest will be payable to the Person in whose name a Note (or any Predecessor Security) is registered at the close of business on the Regular Record Date (as defined below) immediately preceding each Interest
Payment Date (as defined below). In the event that a payment of principal or interest is due on a date that is not a 

 
Business Day (as defined below), the related payment of principal or interest shall be made on the next succeeding Business Day with the same force and
effect as if made on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or date of Maturity, as the case may be. “Business Day” shall mean any day
other than a Saturday, a Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. “London Business Day” means any day on which dealings in
United States dollars are transacted in the London interbank market. 
 (4) The Stated Maturity Date of the Notes shall be
March 2, 2009. 
 (5) The Notes shall bear interest at a rate per annum equal to LIBOR (as defined below) plus 0.08%, as
determined by the Calculation Agent (as defined below) (based on a 360-day year for the actual number of days elapsed) from March 2, 2006, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as
the case may be, payable quarterly on March 2, June 2, September 2 and December 2 in each year, commencing June 2, 2006, until the principal thereof is paid or made available for payment. Each such
March 2, June 2, September 2 and December 2 shall be an “Interest Payment Date” for the Notes, and each February 15, May 18, August 18 and November 17 (whether or not a Business
Day), as the case may be, immediately preceding an Interest Payment Date for the Notes shall be the “Regular Record Date” for the interest payable on such Interest Payment Date. 
 The provision related to interest on overdue principal in Section 501 of the Indenture shall not be applicable to the Notes.

 The rate of interest on the Notes will be 4.92% on March 2, 2006, and will be reset on each Interest
Payment Date thereafter (the date on which each such reset occurs, an “Interest Reset Date”). 
 On each Interest
Reset Date, the rate of interest on the Notes shall be determined with respect to an Interest Determination Date. The second London Business Day preceding an Interest Reset Date will be the interest determination date (the “Interest
Determination Date”) for that Interest Reset Date. 
 Interest on each of the Notes will accrue from, and including,
March 2, 2006, to, and excluding, the first Interest Payment Date and then from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for to, but excluding, the next Interest Payment
Date or date of Maturity, as the case may be, each such period an “Interest Period.” Accrued interest from March 2, 2006, or from the last date on which interest has been paid or duly provided for, to the date for which interest is
being calculated shall be calculated by multiplying the face amount of the applicable Note by the applicable accrued interest factor (the “Accrued Interest Factor”). The Accrued Interest Factor shall be computed by adding the interest
factor calculated for each day from March 2, 2006, or from the last date to which interest has been paid or duly provided for, to the date for which accrued interest is being 

  

 -2- 

 
calculated. The Accrued Interest Factor for each day shall be computed by dividing the per annum interest rate applicable to such day by 360. The interest
rate in effect on each day will be (i) if such day is an Interest Reset Date, the interest rate determined as of the Interest Determination Date pertaining to such Interest Reset Date or (ii) if such day is not an Interest Reset Date and
falls after the first Interest Reset Date, the interest rate determined as of the Interest Determination Date pertaining to the immediately preceding Interest Reset Date or (iii) if such day is not an Interest Reset Date and falls before the
first Interest Reset Date, 4.92%. 
 All percentages resulting from the above calculation will be rounded, if
necessary, to the nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts used in or
resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upward). 
 LIBOR will
be determined by the Calculation Agent in accordance with the following provisions: 
 (i) With respect to an Interest Period,
LIBOR will be the rate (expressed as a percentage per annum) for deposits in United States dollars having a three-month maturity that appears on Telerate Page 3750 at approximately 11:00 A.M. London time on the Interest Determination Date. If on an
Interest Determination Date such rate does not appear on Telerate Page 3750 at such time, or if the Telerate Page 3750 is not available on such date, then LIBOR, in respect of that Interest Determination Date, will be determined in accordance with
the provisions described in (ii) below. 
 (ii) With respect to an Interest Determination Date on which no rate appears
as specified in (i) above, the Calculation Agent will obtain such rate from Bloomberg’s “BBAM.” If such rate does not appear on Telerate Page 3750 or Bloomberg L.P. page “BBAM” on an Interest Rate Determination Date at
approximately 11:00 A.M., London time, then the Calculation Agent will request the principal London office of each of four major banks in the London interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its
offered quotation of the rate (expressed as a percentage per annum) offered by it to prime banks in the London interbank market for three-month deposits in United States dollars in a principal amount of at least $1,000,000 at approximately 11:00
A.M., London time, on such Interest Determination Date. If at least two such quotations are so provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two such quotations are so
provided, the Calculation Agent will request each of three major banks in New York City, as selected by the Calculation Agent, to provide a quotation of the rate (expressed as a percentage per annum) offered by it for loans in United States dollars
to leading European banks, having a three-month maturity in a principal amount of at least $1,000,000 at approximately 11:00 A.M., New York City time, on such Interest Determination Date. If at least two such rates are so provided, the rate for the
interest period will be the arithmetic mean of such rates. If fewer than two such rates are so 

  

 -3- 

 
provided, then the rate for the Interest Period will be the rate in effect with respect to the immediately preceding Interest Period. 
 “Telerate Page 3750” means the display designated as “Page 3750” on the Moneyline Telerate service, or any successor
service (or such other page as may replace Page 3750 on that service), for the purpose of displaying the London interbank rates of major banks for United States dollars. 
 The Bank of New York will be the “Calculation Agent.” The Calculation Agent shall calculate the interest rate in accordance with
the foregoing. On or before each Calculation Date, the Calculation Agent will determine the interest rate and notify the paying agent. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive and binding and
neither the Trustee nor the paying agent shall have the duty to verify determinations of interest rates made by the Calculation Agent. The determinations of the Accrued Interest Factor made by the paying agent shall be conclusive and binding. The
“Calculation Date” pertaining to any Interest Determination Date on a Note will be the earlier of (i) the tenth calendar day after such Interest Determination Date, or, if any such day is not a Business Day, the next succeeding
Business Day, and (ii) the Business Day immediately preceding the applicable Interest Payment Date or the date of Maturity, as the case may be. 
 Notwithstanding the foregoing, the interest rate shall in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 
 (6) Principal of (and premium, if any) and interest on the Notes will be payable, and, except as provided in Section 305 of the
Indenture with respect to a Global Security (as defined below), the transfer of the Notes will be registrable and Notes will be exchangeable for notes bearing identical terms and provisions at the corporate trust office of The Bank of New York, in
the City of New York, New York, provided, however, that payment of principal or interest may be made at the option of the Company by check mailed to the Person entitled thereto as shown on the Security Register. 
 (7) The Notes will not be redeemable. 
 (8) The Company shall not be obligated to redeem or purchase any Notes pursuant to any sinking fund or analogous provisions or at the option of the Holder. 
 (9) The Notes shall not be convertible into shares of Common Stock of the Company or exchangeable for any other securities. 
 (10) The Trustee shall be the Security Registrar and the Paying Agent. 
 (11) The amount of payments of principal of and any premium or interest on the Notes will not be determined with reference to an index.

 (12) The Notes shall be subject to the covenants and definitions set forth in the Indenture. 
  

 -4- 

 (13) The Notes will be issued only in fully registered form and the minimum initial
purchase amounts of the Notes shall be $1,000 and any integral multiple of $1,000 in excess thereafter. 
 (14) The Notes
shall be subject to the Events of Default specified in Section 701, paragraphs (i) through (viii), of the Indenture. 
 (15) The portion of the principal amount of the Notes which shall be payable upon declaration of acceleration of maturity thereof shall not be less than the principal amount thereof. 
 (16) The Notes will be deposited with, or on behalf of, The Depository Trust Company, New York, New York, as Depositary, and will be
represented by a global security (a “Global Security”) registered in the name of a nominee of the Depositary. So long as the Depositary or its nominee is the registered holder of any Global Security, the Depositary or its nominee, as the
case may be, will be considered the sole Holder of the Notes represented by such Global Security for all purposes under the Indenture and the Notes. 
 (17) The defeasance provisions set forth in Article IX of the Indenture shall apply to the Notes. 
 (18) The Company may, so long as no Event of Default has occurred, without the consent of the Holders of the Notes, issue additional notes with the same terms as the Notes in accordance with the corporate authority
existing at the time of such additional issuance, and such additional notes shall be considered part of the same series under the Indenture as the Notes. The Notes shall have such other terms and provisions as are provided in the Global Security
representing the Notes substantially in the form attached as Exhibit A hereto. 
 (19) The CUSIP number for the Notes is
91324PAN2. 
 B. Establishment of Forms of Securities Pursuant to Section 201 of Indenture. 
 It is hereby established pursuant to Section 201 of the Indenture that the Global Security representing the Notes shall be substantially in the form
attached as Exhibit A hereto. 
 C. Order for the Authentication and Delivery of Securities Pursuant to Section 303 of
the Indenture. 
 It is hereby ordered pursuant to Section 303 of the Indenture that the Trustee authenticate, in the manner
provided by the Indenture, the Notes in the aggregate principal amount of $650,000,000 registered in the name of Cede & Co., which Notes have been heretofore duly executed by the proper officers of the Company and delivered to you as
provided in the Indenture, and to deliver said authenticated Notes to or on behalf of The Depository Trust Company on or before 10:30 a.m., Eastern Standard Time, on March 2, 2006. 
  

 -5- 

 D. Other Matters. 
 Attached as Exhibit B hereto are true and correct copies of resolutions adopted by the Board of Directors of the Company at meetings on February 3, 2004 and August 2, 2005; such resolutions have
not been further amended, modified or rescinded and remain in full force and effect; and such resolutions (together with this Officers’ Certificate and Company Order) are the only resolutions or other action adopted by the Company’s Board
of Directors or any committee thereof or by any officers of the Company relating to the offering and sale of the Notes. 
 The undersigned
Vice President and Treasurer being an Authorized Representative as defined in the resolutions of the Board of Directors of the Company adopted at a meeting on February 3, 2004 certifies that (i) he has approved the terms of the Notes as
set forth in this Officers’ Certificate and Company Order, (ii) he has approved and ratified the terms and form of the Underwriting Agreement dated February 27, 2006 and the Pricing Agreement dated February 27, 2006 (the
“Pricing Agreement”) among the Company and J.P. Morgan Securities Inc. and Citigroup Global Markets Inc., as representatives of the several Underwriters named in Schedule I to the Pricing Agreement and (iii) he has approved and
ratified the Indenture, all in accordance with the authority of such officer pursuant to such resolutions. 
 The undersigned have read the
pertinent sections of the Indenture including the related definitions contained therein. The undersigned have examined the resolutions adopted by the Board of Directors of the Company. In the opinion of the undersigned, the undersigned have made
such examination or investigation as is necessary to enable the undersigned to express an informed opinion as to whether or not the conditions precedent to (i) the establishment of the Notes, (ii) the establishment of the forms of the
Notes and (iii) the authentication of the Notes, contained in the Indenture have been complied with. In the opinion of the undersigned, such conditions have been complied with. 
 Simpson Thacher & Bartlett LLP and David J. Lubben are entitled to rely on this Officers’ Certificate and Company Order in connection with
the opinions they are rendering pursuant to Sections 10(b) and 10(c), respectively, of the Underwriting Agreement. 
  

 -6- 

 IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate and Company Order this
27th day of February, 2006. 
  

	
	UNITEDHEALTH GROUP INCORPORATED
	
	 /s/ Robert W. Oberrender

	 Robert W. Oberrender
 Vice President and Treasurer

	
	 /s/ Dannette Smith

	 Dannette Smith
 Assistant Secretary

 [Signature page to 2009 Notes Officers’ Certificate and Company Order]

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