Document:

Exhibit 4.6

 

INDENTURE

between

Akoustis Technologies, Inc.

and

[________]

TRUSTEE

 

Dated as of [________]

 

Providing
for Issuance of

Debt Securities in Series

 

     

     

    

 

Reconciliation and tie between Indenture,
dated as of ______________, and the Trust Indenture Act of 1939, as amended.

 

	Trust Indenture Act of 1939 Section	 	Indenture Section
	310(a)(1)	 	6.11
	(a)(2)	 	6.11
	(a)(3)	 	TIA
	(a)(4)	 	Not Applicable
	(a)(5)	 	TIA
	(b)	 	6.9; 6.11; TIA
	 	 	 
	311(a)	 	TIA
	(b)	 	TIA
	 	 	 
	312(a)	 	6.7
	(b)	 	TIA
	(c)	 	TIA
	 	 	 
	313(a)	 	6.6; TIA
	(b)	 	TIA
	(c)	 	6.6; TIA
	(d)	 	6.6
	 	 	 
	314(a)	 	9.6; TIA
	(b)	 	Not Applicable
	(c)(1)	 	1.2
	(c)(2)	 	1.2
	(c)(3)	 	Not Applicable
	(d)	 	Not Applicable
	(e)	 	1.2
	(f)	 	TIA
	 	 	 
	315(a)	 	TIA
	(b)	 	6.5
	(c)	 	6.1
	(d)(1)	 	TIA
	(d)(2)	 	TIA
	(d)(3)	 	TIA
	(e)	 	TIA
	 	 	 
	316(a)(1)(A)	 	5.8
	(a)(1)(B)	 	5.7
	(b)	 	5.2; 5.3; 5.10
	(c)	 	TIA
	 	 	 
	317(a)(1)	 	5.3
	(a)(2)	 	5.4
	(b)	 	9.3
	 	 	 
	318(a)	 	1.11
	(b)	 	TIA
	(c)	 	1.11; TIA

 

Note: This Cross-Reference Table shall not, for any purpose,
be deemed to be part of the Indenture.

 

     

     

    

 

Table of
Contents

 

	 	Page
	 	 
	Article I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	 
	Section 1.1. DEFINITIONS	1
	Section 1.2. COMPLIANCE CERTIFICATES AND OPINIONS	8
	Section 1.3. FORM OF DOCUMENTS DELIVERED TO TRUSTEE	8
	Section 1.4. ACTS OF HOLDERS	9
	Section 1.5. NOTICES, ETC., TO TRUSTEE AND COMPANY	11
	Section 1.6. NOTICE TO HOLDERS; WAIVER	11
	Section 1.7. HEADINGS AND TABLE OF CONTENTS	12
	Section 1.8. SUCCESSOR AND ASSIGNS	12
	Section 1.9. SEPARABILITY	12
	Section 1.10. BENEFITS OF INDENTURE	12
	Section 1.11. GOVERNING LAW	12
	Section 1.12. WAIVER OF JURY TRIAL	13
	Section 1.13. LEGAL HOLIDAYS	13
	Section 1.14. NO RECOURSE AGAINST OTHERS	13
	 	 
	Article II SECURITY FORMS	14
	 	 
	Section 2.1. FORMS GENERALLY	14
	Section 2.2. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION	14
	Section 2.3. SECURITIES IN GLOBAL FORM	14
	Section 2.4. FORM OF LEGEND FOR SECURITIES IN GLOBAL FORM	15
	 	 
	Article III THE SECURITIES	15
	 	 
	Section 3.1. AMOUNT UNLIMITED; ISSUABLE IN SERIES	15
	Section 3.2. DENOMINATIONS	19
	Section 3.3. EXECUTION, AUTHENTICATION, DELIVERY AND DATING	19
	Section 3.4. TEMPORARY SECURITIES	21
	Section 3.5. REGISTRATION, TRANSFER AND EXCHANGE	22
	Section 3.6. REPLACEMENT SECURITIES	24
	Section 3.7. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED	25
	Section 3.8. PERSONS DEEMED OWNERS	26
	Section 3.9. CANCELLATION	27
	Section 3.10. COMPUTATION OF INTEREST	27
	Section 3.11. CURRENCY AND MANNER OF PAYMENT IN RESPECT OF SECURITIES	27
	Section 3.12. APPOINTMENT AND RESIGNATION OF EXCHANGE RATE AGENT	32
	Section 3.13. WIRE TRANSFERS	32
	Section 3.14. CUSIP NUMBERS AND ISINS	32

 

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	Article IV SATISFACTION, DISCHARGE AND DEFEASANCE	33
	 	 
	Section 4.1. TERMINATION OF COMPANY’S OBLIGATIONS UNDER THE INDENTURE	33
	Section 4.2. APPLICATION OF TRUST FUNDS	34
	Section 4.3. APPLICABILITY OF DEFEASANCE PROVISIONS; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE	34
	Section 4.4. DEFEASANCE AND DISCHARGE	34
	Section 4.5. COVENANT DEFEASANCE	35
	Section 4.6. CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE	35
	Section 4.7. DEPOSITED MONEY AND GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST	37
	Section 4.8. REPAYMENT TO COMPANY	37
	Section 4.9. INDEMNITY FOR GOVERNMENT OBLIGATIONS	37
	 	 
	Article V DEFAULTS AND REMEDIES	38
	 	 
	Section 5.1. EVENTS OF DEFAULT	38
	Section 5.2. ACCELERATION; RESCISSION AND ANNULMENT	38
	Section 5.3. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE	39
	Section 5.4. TRUSTEE MAY FILE PROOFS OF CLAIM	39
	Section 5.5. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES	40
	Section 5.6. DELAY OR OMISSION NOT WAIVER	40
	Section 5.7. WAIVER OF PAST DEFAULTS	40
	Section 5.8. CONTROL BY MAJORITY	40
	Section 5.9. LIMITATION ON SUITS BY HOLDERS	40
	Section 5.10. RIGHTS OF HOLDERS TO RECEIVE PAYMENT	41
	Section 5.11. APPLICATION OF MONEY COLLECTED	41
	Section 5.12. RESTORATION OF RIGHTS AND REMEDIES	42
	Section 5.13. RIGHTS AND REMEDIES CUMULATIVE	42
	 	 
	Article VI THE TRUSTEE	43
	 	 
	Section 6.1. DUTIES AND RESPONSIBILITIES OF TRUSTEE; RELIANCE ON DOCUMENTS, OPINIONS, ETC	43
	Section 6.2. TRUSTEE, PAYING AGENTS, CONVERSION AGENTS OR REGISTRAR MAY HOLD SECURITIES	46
	Section 6.3. MONIES TO BE HELD IN TRUST	46
	Section 6.4. NO RESPONSIBILITIES FOR RECITALS, ETC	47
	Section 6.5. NOTICE OF DEFAULTS	47
	Section 6.6. REPORTS BY TRUSTEE TO HOLDERS	47
	Section 6.7. SECURITY HOLDER LISTS	47
	Section 6.8. COMPENSATION AND INDEMNITY	48
	Section 6.9. SEPARATE TRUSTEE; REPLACEMENT OF TRUSTEE	49
	Section 6.10. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR	50

 

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	Section 6.11. ELIGIBILITY; DISQUALIFICATION	51
	Section 6.12. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS	51
	Section 6.13. APPOINTMENT OF AUTHENTICATING AGENT	52
	 	 
	Article VII CONSOLIDATION, MERGER OR SALE BY THE COMPANY	53
	 	 
	Section 7.1. CONSOLIDATION, MERGER OR SALE OF ASSETS	53
	 	 
	Article VIII SUPPLEMENTAL INDENTURES	54
	 	 
	Section 8.1. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS	54
	Section 8.2. WITH CONSENT OF HOLDERS	55
	Section 8.3. COMPLIANCE WITH TRUST INDENTURE ACT	56
	Section 8.4. EXECUTION OF SUPPLEMENTAL INDENTURES	56
	Section 8.5. EFFECT OF SUPPLEMENTAL INDENTURES	56
	Section 8.6. REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES	56
	 	 
	Article IX COVENANTS	57
	 	 
	Section 9.1. PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST	57
	Section 9.2. MAINTENANCE OF OFFICE OR AGENCY	57
	Section 9.3. MONEY FOR SECURITIES TO BE HELD IN TRUST; UNCLAIMED MONEY	57
	Section 9.4. CORPORATE EXISTENCE	58
	Section 9.5. REPORTS BY THE COMPANY	59
	Section 9.6. ANNUAL REVIEW CERTIFICATE	59
	 	 
	Article X REDEMPTION	59
	 	 
	Section 10.1. APPLICABILITY OF ARTICLE	59
	Section 10.2. ELECTION TO REDEEM; NOTICE TO TRUSTEE	60
	Section 10.3. SELECTION OF SECURITIES TO BE REDEEMED	60
	Section 10.4. NOTICE OF REDEMPTION	60
	Section 10.5. DEPOSIT OF REDEMPTION PRICE	61
	Section 10.6. SECURITIES PAYABLE ON REDEMPTION DATE	62
	Section 10.7. SECURITIES REDEEMED IN PART	62
	 	 
	Article XI SINKING FUNDS	62
	 	 
	Section 11.1. APPLICABILITY OF ARTICLE	62
	Section 11.2. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES	63
	Section 11.3. REDEMPTION OF SECURITIES FOR SINKING FUND	63

 

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INDENTURE, dated as of [●], between
Akoustis Technologies, Inc., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”),
and [●], as trustee, a national banking association organized and existing under the laws of the United States of America,
as trustee (the “Trustee”).

 

RECITALS

 

The Company has duly authorized the execution
and delivery of this Indenture to provide for the issuance from time to time of its debentures, notes or other evidences of indebtedness
(“Securities”) to be issued in one or more series as herein provided.

 

For and in consideration of the premises
and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable
benefit of the Holders of the Securities or of any series thereof:

 

Article
I

 

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

 

Section 1.1. DEFINITIONS.
(a) For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:

 

(1) the terms defined in this Article have
the meanings assigned to them in this Article and include the plural as well as the singular;

 

(2) all other terms used herein which are
defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein;

 

(3) all accounting terms not otherwise defined
herein have the meanings assigned to them in accordance with generally accepted accounting principles; and

 

(4) the words “herein”, “hereof”
and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article,
Section or other subdivision.

 

“Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by, or under direct or indirect common control with,
such specified Person. For purposes of this definition, “control” when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative
to the foregoing.

 

“Agent” means any Paying Agent
or Registrar.

 

“Authenticating Agent” means
any authenticating agent appointed by the Trustee pursuant to Section 6.13.

 

    1

     

    

 

“Board” or “Board of Directors”
means the Board of Directors of the Company or any duly authorized committee thereof to act on behalf of the Board.

 

“Board Resolution” means a copy
of one or more resolutions of the Board of Directors, certified by the Corporate Secretary or an Assistant Secretary of the Company
to have been duly adopted by the Board of Directors and to be in full force and effect on the date of the certificate.

 

“Business Day”, when used with
respect to any Place of Payment or any other particular location referred to in this Indenture or in the Securities, means, unless
otherwise specified with respect to any Securities pursuant to Section 3.1, each Monday, Tuesday, Wednesday, Thursday and Friday
which is not a day on which banking institutions in that Place of Payment or particular location are authorized or required by
law to be closed, except as may otherwise be provided in the form of Security of any particular series pursuant to the provisions
of this Indenture.

 

“Commission” means the Securities
and Exchange Commission, as from time to time constituted, or, if at any time after the execution of this Indenture such Commission
is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties
at such time.

 

“Common Stock” means the shares
of common stock, $0.001 par value per share, of the Company.

 

“Company” means the party named
as the Company in the first paragraph of this Indenture until a successor shall have become such pursuant to the applicable provisions
of this Indenture, and thereafter means such successors.

 

“Company Order” and “Company
Request” mean, respectively, a written order or request signed in the name of the Company by the President, the Chief Executive
Officer, the Chief Financial Officer, any Vice President, the Treasurer or the Corporate Secretary of the Company.

 

“Corporate Trust Office” means
the corporate trust office of the Trustee at which at any particular time this Indenture shall be principally administered, which
office at the date hereof is located at [●].

 

“Currency unit”, for all purposes
of this Indenture, shall include any composite currency.

 

“Default” means any event which
is, or after notice or passage of time, or both, would be, an Event of Default.

 

“Depository”, when used with
respect to the Securities of or within any series issuable or issued in whole or in part in global form, means the Person designated
as Depository by the Company pursuant to Section 3.1 until a successor Depository shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter shall mean or include each Person which is then a Depository hereunder, and if at
any time there is more than one such Person, shall be a collective reference to such Persons.

 

    2

     

    

 

“Dollar” or “$” means
the coin or currency of the United States as at the time of payment is legal tender for the payment of public and private debts.

 

“Euro” means the lawful currency
of the participating member states of the European Union that adopt a single currency in accordance with the Treaty establishing
the European Community, as amended by the Treaty on European Union signed February 7, 1992.

 

“Foreign Currency” shall mean
any currency issued by the government or governments of one or more countries other than the United States or by any recognized
confederation or association of such governments and shall include the Euro.

 

“Government Obligations” means
securities which are (i) direct obligations of the United States or, if specified as contemplated by Section 3.1, the government
which issued the currency in which the Securities of a particular series are payable, for the payment of which its full faith and
credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States or, if specified as contemplated by Section 3.1, such government which issued the foreign currency in which the Securities
of such series are payable, for the payment of which the full faith and credit of the United States or such other government is
pledged (whether by guaranty or otherwise), which, in either case, are not callable or redeemable at the option of the issuer thereof,
and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government
Obligation or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account
of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government
Obligation evidenced by such depository receipt.

 

“Holder” means a person in whose
name a Registered Security is registered on the Register.

 

“Indenture” means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto
entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental
indenture, respectively; provided, however, that if at any time more than one Person is acting as Trustee under this Indenture
due to the appointment of one or more separate Trustees for any one or more separate series of Securities, “Indenture”
shall mean, with respect to such series of Securities for which any such Person is Trustee, this instrument as originally executed
or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to
the applicable provisions hereof, exclusive, however, of any provisions or terms which relate solely to other series of Securities
for which such Person is not Trustee, regardless of when such terms or provisions were adopted, and exclusive of any provisions
or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such Person had become such
Trustee, but to which such Person, as such Trustee, was not a party; provided further that in the event that this indenture is
supplemented or amended by one or more indentures supplemental hereto which are only applicable to certain series of Securities,
the term “Indenture” for a particular series of Securities shall only include the supplemental indentures applicable
thereto.

 

    3

     

    

 

“Indexed Security” means a Security
the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal
face amount thereof at original issuance.

 

“Interest”, when used with respect
to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

“Interest Payment Date”, when
used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

 

“Maturity”, when used with respect
to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable
as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.

 

“Officer” means the President,
Chairman of the Board, the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer the Treasurer, any
Assistant Treasurer, the Controller, any Vice President (whether or not designated by a number or numbers or word or words added
before the title “Vice President”), or the Corporate Secretary of the Company.

 

“Officer’s Certificate”
means a certificate signed by an Officer of the Company.

 

“Opinion of Counsel” means a
written opinion of legal counsel, who may be, without limitation, (a) an employee of the Company, or (b) outside counsel designated
by the Company.

 

“Original Issue Discount Security”
means any Security which provides for an amount less than the stated principal amount thereof to be due and payable upon declaration
of acceleration of the Maturity thereof pursuant to Section 5.2.

 

“Outstanding”, when used with
respect to Securities of any series, means, as of the date of determination, all Securities of such series theretofore authenticated
and delivered under this Indenture, except:

 

(i) Securities theretofore cancelled by the
Trustee or delivered to the Trustee for cancellation;

 

(ii) Securities, or portions thereof, for
whose payment or redemption money or Government Obligations in the necessary amount has been theretofore deposited with the Trustee
or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall
act as its own Paying Agent) for the Holders of such Securities, provided that, if such Securities are to be redeemed, notice of
such redemption has been duly given pursuant to this Indenture or provisions therefor satisfactory to the Trustee have been made;

 

    4

     

    

 

(iii) Securities, except to the extent provided
in Sections 4.4 and 4.5, with respect to which the Company has effected defeasance and/or covenant defeasance as provided in Article
IV; and

 

(iv) Securities which have been paid pursuant
to Section 3.6 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture,
other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that
such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company;

 

provided, however, that unless otherwise provided with respect
to Securities of any series pursuant to Section 3.1, in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, or whether
sufficient funds are available for redemption or for any other purpose, and for the purpose of making the calculations required
by section 313 of the Trust Indenture Act or are present at a meeting of Holders for quorum purposes, (w) the principal amount
of any Original Issue Discount Securities that may be counted in making such determination or calculation and that shall be deemed
to be Outstanding for such purpose shall be equal to the amount of principal thereof that would be (or shall have been declared
to be) due and payable, at the time of such determination, upon a declaration of acceleration of the maturity thereof pursuant
to Section 5.2, (x) the principal amount of any Security denominated in one or more Foreign Currencies or currency units that may
be counted in making such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to
the Dollar equivalent, determined as of the date such Security is originally issued by the Company as set forth in an Exchange
Rate Officer’s Certificate delivered to the Trustee, of the principal amount (or, in the case of an Original Issue Discount
Security, the Dollar equivalent, determined as of such date of original issuance, of the amount determined as provided in clause
(w) above) of such Security, (y) unless otherwise provided with respect to such Security pursuant to Section 3.1, the principal
amount of any Indexed Security that may be counted in making such determination or calculation and that shall be deemed Outstanding
for such purpose shall be equal to the principal face amount of such Indexed Security at original issuance, and (z) Securities
owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such
calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, or determination
as to the presence of a quorum, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall
be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes
to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is
not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor.

 

“Paying Agent” means any Person
authorized by the Company to pay the principal of, premium, if any, or interest and any other payments on all or any of the series
of Securities on behalf of the Company.

 

    5

     

    

 

“Periodic Offering” means an
offering of Securities of a series from time to time the specific terms of which such Securities, including, without limitation,
the rate or rates of interest or formula for determining the rate or rates of interest thereon, if any, the Maturity thereof and
the redemption provisions, if any, with respect thereto, are to be determined by the Company upon the issuance of such Securities.

 

“Person” means any individual,
corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization
or government or any agency or political subdivision thereof or any other entity.

 

“Place of Payment”, when used
with respect to the Securities of or within any series, means the place or places where the principal of, premium, if any, and
interest and any other payments on such Securities are payable as specified as contemplated by Sections 3.1 and 9.2.

 

“Predecessor Security” of any
particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular
Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.6 in exchange for
or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed,
lost or stolen Security.

 

“Preferred Stock” as applied
to the capital stock of the Company means capital stock of any class or classes (however designated) which is preferred as to the
payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of the Company,
over shares of Common Stock of such corporation.

 

“Redemption Date”, when used
with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.

 

“Redemption Price”, when used
with respect to any Security to be redeemed, in whole or in part, means the price at which it is to be redeemed pursuant to this
Indenture.

 

“Registered Security” means any
Security issued hereunder and registered as to principal and interest in the Register.

 

“Regular Record Date” for the
interest payable on any Interest Payment Date on the Securities of or within any series means the date specified for that purpose
as contemplated by Section 3.1, which date shall be, unless otherwise specified pursuant to Section 3.1, the fifteenth day preceding
such Interest Payment Date, whether or not such day shall be a Business Day.

 

“Responsible Officer”, when used
with respect to the Trustee, shall mean any senior vice president, vice president, any assistant vice president or assistant secretary
working in its corporate trust department and assigned responsibility for this engagement, or any other officer of the Trustee
customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively,
working in its corporate trust department and assigned responsibility for this engagement, or to whom any corporate trust matter
relating to the Indenture or the Securities is referred because of his knowledge of and familiarity with a particular subject.

 

    6

     

    

 

“Security” or “Securities”
has the meaning stated in the first recital of this Indenture and more particularly means a Security or Securities of the Company
issued, authenticated and delivered under this Indenture.

 

“Special Record Date” for the
payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7.

 

“Stated Maturity”, when used
with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security
as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

 

“Subsidiary” means any Person
of which the Company at the time owns or controls, directly or indirectly, more than 50% of the shares of outstanding stock or
other equity interests having general voting power under ordinary circumstances to elect a majority of the Board of Directors,
managers or trustees, as the case may be, of such Person (irrespective of whether or not at the time stock of any other class or
classes or other equity interests of such corporation shall have or might have voting power by reason of the happening of any contingency).

 

“Trust Indenture Act” means the
Trust Indenture Act of 1939 as in effect on the date of this Indenture, except as provided in Section 8.3.

 

“Trustee” means the party named
as such in the first paragraph of this Indenture until a successor Trustee replaces it pursuant to the applicable provisions of
this Indenture, and thereafter means such successor Trustee and if, at any time, there is more than one Trustee, “Trustee”
as used with respect to the Securities of any series shall mean the Trustee with respect to the Securities of that series.

 

“United States” means, unless
otherwise specified with respect to the Securities of any series as contemplated by Section 3.1, the United States of America (including
the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction.

 

“U.S. Person” means, unless otherwise
specified with respect to the Securities of any series as contemplated by Section 3.1, an individual citizen or resident of the
United States, a corporation created or organized in or under the laws of the United States, any State thereof or the District
of Columbia, or a partnership, estate or trust treated as a domestic partnership, estate or trust for United States federal income
tax purposes.

 

(b) The following terms shall have the meanings
specified in the Sections referred to opposite such term below:

 

	Term	 	Section 
	 	 	 
	“Act”	 	1.4(a)
	“Bankruptcy Law”	 	5.1
	“Component Currency”	 	3.11(h)
	“Conversion Date”	 	3.11(d)
	“Conversion Event”	 	3.11(h)
	“Custodian”	 	5.1
	“Defaulted Interest”	 	3.7(b)
	“Election Date”	 	3.11(h)
	“Event of Default”	 	5.1
	“Exchange Rate Agent”	 	3.11(h)
	“Exchange Rate Officer’s Certificate”	 	3.11(h)
	“Market Exchange Rate”	 	3.11(h)
	“Register”	 	3.5
	“Registrar”	 	3.5
	“Specified Amount”	 	3.11(h)
	“Valuation Date”	 	3.11(c)

 

    7

     

    

 

Section 1.2. COMPLIANCE CERTIFICATES AND
OPINIONS. Upon any application or request by the Company to the Trustee to take any action under
any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel
stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the
case of any application or request as to which the furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

 

Every certificate or opinion with respect
to compliance with a condition or covenant provided for in this Indenture (other than pursuant to Sections 2.3) shall include:

 

(1) a statement that the individual signing
such certificate or opinion has read such condition or covenant and any definitions in this Indenture that are used in such certificate
or opinion;

 

(2) a brief statement as to the nature and
scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

 

(3) a statement that, in the opinion of each
such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such condition or covenant has been complied with; and

 

(4) a statement as to whether, in the opinion
of such individual, such condition or covenant has been complied with.

 

Section 1.3. FORM OF DOCUMENTS DELIVERED
TO TRUSTEE. In any case where several matters are required to be certified by, or covered by an
opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only
one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion
with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents.

 

    8

     

    

 

Any certificate or opinion of an officer
of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel,
unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate
or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters,
upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with
respect to such factual matters is in the possession of the Company, unless such counsel knows that the certificate or opinion
or representations as to such matters are erroneous.

 

Any certificate or opinion of an officer
of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representations
by an accountant or firm of accountants in the employ of the Company, unless such officer or counsel, as the case may be, knows
that the certificate or opinions or representations as to such accounting matters are erroneous.

 

Where any Person is required to make, give
or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture,
they may, but need not, be consolidated and form one instrument.

 

Section 1.4. ACTS OF HOLDERS.
(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby
expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby)
are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of
execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section.

 

(b) The fact and date of the execution by
any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate
of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity
other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The
fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be
proved in any other manner which the Trustee deems sufficient.

 

(c) The ownership of Registered Securities
shall be proved by the Register (as defined in Section 3.5 below).

 

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(d) Any request, demand, authorization, direction,
notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the
Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect
of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of
such action is made upon such Security.

 

(e) If the Company shall solicit from the
Holders of any series any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at
its option, fix in advance a record date for the determination of Holders of such series entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record
date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after
such record date, but only the Holders of such series of record at the close of business on such record date shall be deemed to
be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities of such series
have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act,
and for that purpose the Outstanding Securities of such series shall be computed as of such record date; provided that no such
authorization, agreement or consent by the Holders on such record date shall be deemed effective unless taken on or prior to the
applicable Expiration Date (as defined below) by Holders of the requisite amount of Outstanding Securities of such series on such
record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action
for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically
and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective
any action taken by Holders of the requisite amount of Outstanding Securities of any series on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date,
the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities
in the manner set forth in Section 1.6.

 

With respect to any record date set pursuant
to this Section 1.4, the Company may designate any date as the “Expiration Date” and from time to time may change the
Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new
Expiration Date is given to the Trustee, and to each Holder of Securities of the applicable series in the manner set forth in Section
1.6 on or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any record date pursuant
to this Section, the Company shall be deemed to have initially designated the 180th day after such record date as the Expiration
Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the
foregoing, no Expiration Date shall be later than the 180th day after the applicable record date.

 

(f) Without limiting the foregoing, a Holder
entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part
of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount.

 

(g) The Company and the Trustee may make
reasonable rules for action by or at a meeting of Holders.

 

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Section 1.5. NOTICES, ETC., TO TRUSTEE AND
COMPANY. Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders
or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with:

 

if to the Company:

 

Akoustis Technologies, Inc.

9805 Northcross Center Court, Suite A

Huntersville, NC 28078 

Attention: Chief Executive Officer

 

if to the Trustee:

 

[●]

 

Notices to the Trustee are deemed given only
upon actual receipt by the Trustee.

 

The Company or the Trustee by notice to the
other may designate additional or different addresses (including facsimile numbers and electronic addresses) for subsequent notices
or communications.

 

Any notice or communication shall be in writing
and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile transmission,
electronic transmission or other similar means of unsecured electronic communication or overnight air courier guaranteeing next
day delivery.

 

Section 1.6. NOTICE TO HOLDERS; WAIVER.
Where this Indenture provides for notice to Holders of any event, if any of the Securities affected by such event are Registered
Securities, such notice to the Holders thereof shall be sufficiently given (unless otherwise herein or in the terms of such Securities
expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at his
address as it appears in the Register, within the time prescribed for the giving of such notice; provided that notices given to
Holders of Securities in global form may be given electronically through the facilities of the Depository.

 

In any case where notice to Holders is given
by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect
the sufficiency of such notice with respect to other Holders of Registered Securities as provided herein. In any case where notice
is given to Holders by publication, neither the failure to publish such notice, nor any defect in any notice so published, shall
affect the sufficiency of such notice with respect to the sufficiency of any notice to Holders of Registered Securities given as
provided herein. Any notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received
by such Holder, whether or not such Holder actually receives such notice.

 

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If by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice as provided above, then such notification
as shall be made with the approval of the Trustee (such approval not to be unreasonably withheld) shall constitute a sufficient
notification for every purpose hereunder. If it is impossible or, in the opinion of the Trustee, impracticable to give any notice
by publication in the manner herein required, then such publication in lieu thereof as shall be made with the approval of the Trustee
shall constitute a sufficient publication of such notice.

 

Any request, demand, authorization, direction,
notice, consent or waiver required or permitted under this Indenture shall be in the English language, except that any published
notice may be in an official language of the country of publication.

 

Where this Indenture provides for notice
in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event,
and such waiver shall be equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

 

Section 1.7. HEADINGS AND TABLE OF CONTENTS.
The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction
hereof.

 

Section 1.8. SUCCESSOR AND ASSIGNS.
All covenants and agreements in this Indenture by the Company shall bind its successor and assigns, whether so expressed or not.

 

Any act or proceeding that is required or
permitted by any provision of this Indenture and that is authorized or required to be done or performed by any board, committee
or officer of the Company shall and may be done and performed with like force and effect by the like board, committee or officer
of any corporation that shall at the time be the successor or assign of the Company.

 

Section 1.9. SEPARABILITY.
In case any provision of this Indenture or any Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 1.10. BENEFITS OF INDENTURE.
Nothing in this Indenture or in any Securities, expressed or implied, shall give to any Person, other than the parties hereto
and their successors hereunder, any Agent and the Holders, any benefit or any legal or equitable right, remedy or claim under
this Indenture.

 

Section 1.11. GOVERNING LAW.
UNLESS OTHERWISE PROVIDED WITH RESPECT TO ANY SECURITIES OF ANY SERIES PURSUANT TO SECTION 3.1, THIS INDENTURE AND THE SECURITIES
APPERTAINING THERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS
OF CONSTRUCTION, VALIDITY AND PERFORMANCE. This Indenture is subject to the Trust Indenture Act and if any provision hereof limits,
qualifies or conflicts with a provision included in this Indenture which is required by the Trust Indenture Act, the latter provision
shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so
modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified, or to be excluded, as the
case may be, whether or not such provision of this Indenture refers expressly to such provision of the Trust Indenture Act.

 

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Section 1.12. WAIVER OF JURY TRIAL.
EACH OF THE COMPANY, THE TRUSTEE AND EACH HOLDER (BY ITS ACCEPTANCE OF ANY SECURITY) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. EACH OF THE COMPANY, THE TRUSTEE AND EACH HOLDER (BY ITS ACCEPTANCE
OF ANY SECURITY) HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE OR U.S. FEDERAL COURT IN THE CITY OF NEW YORK AND
COUNTY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE AND THE SECURITIES,
AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID
COURTS.

 

Section 1.13. LEGAL HOLIDAYS.
Unless otherwise provided with respect to any Security or Securities pursuant to Section 3.1, in any case where any Interest Payment
Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity or other payment date of any Security shall not
be a Business Day at any Place of Payment, then, notwithstanding any other provision of this Indenture or any Security, payment
of principal, premium, if any or interest or other payments need not be made at such Place of Payment on such date, but may be
made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on such date; provided
that no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date,
sinking fund payment date, Stated Maturity or Maturity or other payment date, as the case may be.

 

Section 1.14. NO RECOURSE AGAINST OTHERS.
No past, present or future director, officer, employee, agent, member, manager, trustee or stockholder, as such, of the Company
or any successor Person shall have any liability for any obligations of the Company or any successor Person, either directly or
through the Company or any successor Person, under the Securities or this Indenture or for any claim based on, in respect of or
by reason of such obligations or their creation, whether by virtue of any rule of law, statute or constitutional provision or
by the enforcement of any assessment or by any legal or equitable proceeding or otherwise. By accepting a Security, each Holder
agrees to the provisions of this Section 1.14 and waives and releases all such liability. Such waiver and release shall be part
of the consideration for the issue of the Securities.

 

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Article
II

 

SECURITY
FORMS

 

Section 2.1. FORMS GENERALLY.
The Securities of each series shall be in substantially such form as shall be established in one or more indentures supplemental
hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted
by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as the Company may deem appropriate or as may be required to comply with any applicable law, rule or regulation or with
the rules or usage of any securities exchange or Depository therefor or as may, consistently herewith, be determined by the officers
executing such Securities as evidenced by their execution of the Securities. If temporary Securities of any series are issued
as permitted by Section 3.4, the form thereof also shall be established as provided in the preceding sentence.

 

The definitive Securities shall be typeset,
printed, lithographed or engraved on steel engraved borders or may be produced in any other manner or medium, all as determined
by the officers executing such Securities as evidenced by their execution of such Securities.

 

Section 2.2. FORM OF TRUSTEE’S CERTIFICATE
OF AUTHENTICATION. Subject to Section 6.13 (as applicable to any Authenticating Agent), the Trustee’s
certificate of authentication shall be in substantially the following form:

 

This is one of the [Securities] [of the series
designated herein and] referred to in the within-mentioned Indenture.

 

	 	________________________,  as Trustee
	Dated:  	 	 
	 	 	 
	 	By:	             
	 	 	AUTHORIZED SIGNATORY

 

Section 2.3. SECURITIES IN GLOBAL FORM.
If Securities of or within a series are issuable in whole or in part in global form, any such Security may provide that it shall
represent the aggregate or specified amount of Outstanding Securities from time to time endorsed thereon and may also provide
that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced or increased to reflect
exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, or changes
in the rights of Holders, of Outstanding Securities represented thereby, shall be made in such manner and by such Person or Persons
as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 3.3 or 3.4. Subject to
the provisions of Section 3.3 and, if applicable, Section 3.4, the Trustee shall deliver and redeliver any security in permanent
global form in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company
Order. Any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall
be in writing but need not comply with Section 1.2 hereof and need not be accompanied by an Opinion of Counsel.

 

The provisions of the last paragraph of Section
3.3 shall apply to any Security in global form if such Security was never issued and sold by the Company and the Company delivers
to the Trustee such Security in global form together with written instructions (which need not comply with Section 1.2 and need
not be accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby,
together with the written statement contemplated by the last paragraph of Section 3.3.

 

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Notwithstanding the provisions of Section
2.1 and 3.7, unless otherwise specified as contemplated by Section 3.1, payment of principal of, premium, if any, and interest
on any Security in permanent global form shall be made to the Person or Persons specified therein.

 

Section 2.4. FORM OF LEGEND FOR SECURITIES
IN GLOBAL FORM. Unless otherwise provided with respect to any Securities of any series pursuant
to Section 3.1 or required by the Depository, any Security of such series in global form authenticated and delivered hereunder
shall bear a legend in substantially the following form:

 

This Security is in global form within the meaning
of the Indenture hereinafter referred to and is registered in the name of a Depository or a nominee of a Depository. Unless and
until it is exchanged in whole or in part for Securities in certificated form, this Security may not be transferred except as a
whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of
the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. Every
Security authenticated and delivered upon registration of, or in exchange for, or in lieu of, this Security will be in global form,
subject to the foregoing.

 

Article
III

 

THE
SECURITIES 

 

Section 3.1. AMOUNT UNLIMITED; ISSUABLE
IN SERIES. (a) The aggregate principal amount of Securities which may be authenticated, delivered
and outstanding under this Indenture is unlimited. The Securities may be issued from time to time in one or more series.

 

(b) The following matters shall be established,
without the approval of any Holders, with respect to each series of Securities issued hereunder in one or more indentures supplemental
hereto:

 

(1) the title of the Securities of the series
(which title shall distinguish the Securities of the series from all other series of Securities);

 

(2) any limit upon the aggregate principal
amount of the Securities of the series which may be authenticated, delivered and outstanding under this Indenture (which limit
shall not pertain to Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the series pursuant to Section 3.4, 3.5, 3.6, 8.6, or 10.7 and except for any Securities which, pursuant to
Section 3.3, are deemed never to have been authenticated and delivered hereunder);

 

(3) the date or dates on which the principal
of and premium, if any, on the Securities of the series is payable or the method of determination and/or extension of such date
or dates; and the amount or amounts of such principal and premium, if any, payments or the method of determination thereof;

 

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(4) the rate or rates (which may be fixed
or variable) at which the Securities of the series shall bear interest, if any, or the method of calculating and/or resetting such
rate or rates of interest, the date or dates from which such interest shall accrue or the method by which such date or dates shall
be determined, the Interest Payment Dates on which any such interest shall be payable or the method by which such dates will be
determined, the terms of any deferral of interest and the additional interest, if any, thereon and, with respect to Registered
Securities, the Regular Record Date, if any, for the interest payable on any Registered Security on any Interest Payment Date,
the right, if any, of the Company to extend the Interest Payment Dates and the Regular Record Date, if any, and the duration of
the extensions and the basis upon which interest shall be calculated if other than upon a 360-day year of twelve 30-day months;

 

(5) the place or places where the principal
of, premium, if any, and interest, if any, on Securities of the series shall be payable;

 

(6) the period or periods within which, the
price or prices at which, the currency or currencies (including currency units) in which, and the other terms and conditions upon
which, Securities of the series may be redeemed, in whole or in part, at the option of the Company or otherwise, and, if other
than as provided in Section 10.3, the manner in which the particular Securities of such series (if less than all Securities of
such series are to be redeemed) are to be selected for redemption;

 

(7) the obligation, if any, of the Company
to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions or upon the happening of a
specified event or at the option of a Holder thereof and the period or periods within which, the price or prices at which, and
the other terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation and provisions for the remarketing of such series;

 

(8) if other than denominations of $1,000
and any integral multiple thereof, the denominations in which Securities of the series shall be issuable;

 

(9) if other than Dollars, the currency or
currencies (including currency unit or units) in which the principal of, premium, if any, and interest, if any, or other payments,
if any, on the Securities of the series shall be payable, or in which the Securities of the series shall be denominated, and the
particular provisions applicable thereto in accordance with, in addition to, or in lieu of the provisions of Section 3.11;

 

(10) the terms, if any, upon which Securities
of the series may be convertible into or exchanged for other Securities, Common Stock, Preferred Stock, other debt securities,
warrants to purchase any of the foregoing, or other securities of any kind of the Company or any other obligor and the terms and
conditions upon which the conversion or exchange shall be effected, including the initial conversion or exchange price or rate,
the conversion or exchange period, and any other additional provisions;

 

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(11) if the payments of principal of, premium,
if any, or interest, if any, or other payments, if any, on the Securities of the series are to be made, at the election of the
Company or a Holder, in a currency or currencies (including currency unit or units) other than that in which such Securities are
denominated or designated to be payable, the currency or currencies (including currency unit or units) in which such payments are
to be made, the terms and conditions of such payments and the manner in which the exchange rate with respect to such payments shall
be determined, and the particular provisions applicable thereto in accordance with, in addition to, or in lieu of the provisions
of Section 3.11;

 

(12) if the amount of payments of principal
of, premium, if any, and interest, if any, or other payments, if any, on the Securities of the series shall be determined with
reference to an index, formula or other method (which index, formula or method may be based, without limitation, on the price of
one or more commodities, derivatives or securities; one or more securities, derivatives or commodities exchange indices or other
indices; a currency or currencies (including currency unit or units) other than that in which the Securities of the series are
denominated or designated to be payable; or any other variable or the relationship between any variables or combination of variables),
the index, formula or other method by which such amounts shall be determined;

 

(13) if other than the principal amount thereof,
the portion of the principal amount of such Securities of the series or other amount which shall be payable upon declaration of
acceleration thereof pursuant to Section 5.2 or provable in bankruptcy or the method by which such portion or amount shall be determined;

 

(14) if other than as provided in Section
3.7, the Person to whom any interest on any Registered Security of the series shall be payable;

 

(15) if the principal amount payable at the
Maturity of any Securities of the series will not be determinable as of one or more dates prior to Maturity, the amount which shall
be deemed to be the principal amount of such Securities as of any such date hereunder or thereunder, or, if other than as provided
in the definition of the term “Outstanding”, which shall be deemed to be Outstanding as of any date prior to the Stated
Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined) and, if
necessary, the manner of determining the equivalent thereof in U.S. currency;

 

(16) provisions, if any, granting special
rights to the Holders of Securities of the series upon the occurrence of such events as may be specified;

 

(17) the applicability of or any deletions
from, modifications of or additions to the Events of Default set forth in Section 5.1 or covenants of the Company set forth in
Article IX pertaining to the Securities of the series;

 

(18) under what circumstances, if any, the
Company will pay additional amounts on the Securities of that series held by a Person who is not a U.S. Person in respect of taxes
or similar charges withheld or deducted and, if so, whether the Company will have the option to redeem such Securities rather than
pay such additional amounts (and the terms of any such option);

 

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(19) the date as of which any temporary global
Security representing Outstanding Securities of the series shall be dated if other than the date of original issuance of the first
Security of the series to be issued;

 

(20) the forms of the Securities of the series;

 

(21) any changes or additions to the provisions
provided in Article IV of this Indenture pertaining to defeasance, including without limitation, the exclusion of Section 4.4 or
4.5, or both, with respect to the Securities of or within the series; or the applicability, if any, to the Securities of or within
the series of such means of defeasance or covenant defeasance other than those provided in Sections 4.4 and 4.5 as may be specified
for the Securities of such series, and whether, for the purpose of any defeasance or covenant defeasance pursuant to Section 4.4
or 4.5 or otherwise, the term “Government Obligations” shall include obligations referred to in the definition of such
term which are not obligations of the United States or an agency or instrumentality of the United States;

 

(22) if other than the Trustee, the identity
of the Registrar and any Paying Agent;

 

(23) any terms which may be related to warrants,
options or other rights to purchase and sell securities issued by the Company in connection with, or for the purchase of, Securities
of such series, including whether and under what circumstances the Securities of any series may be used toward the exercise price
of any such warrants, options or other rights;

 

(24) the designation of the initial Exchange
Rate Agent, if any;

 

(25) whether any of the Securities of the
series shall be issued in whole or in part in global form, and if so (i) the Depository for such global Securities, (ii) the form
of any legend in addition to or in lieu of that in Section 2.4 which shall be borne by such global Securities, (iii) whether beneficial
owners of interests in any Securities of the series in global form may exchange such interests for certificated Securities of such
series and of like tenor of any authorized form and denomination, and (iv) if other than as provided in Section 3.5, the circumstances
under which any such exchange may occur;

 

(26) the priority, ranking or subordination,
if any, of the Securities of the series;

 

(27) if the Securities of the series will
be governed by, and the extent to which such Securities will be governed by, any law other than the laws of the state of New York;

 

(28) the terms, if any, of any guarantee
of the payment of principal, premium and interest with respect to Securities of the series and any corresponding changes to the
provisions of this Indenture as then in effect;

 

(29) the terms, if any, of the transfer,
mortgage, pledge or assignment as security for the Securities of the series of any properties, assets, moneys, proceeds, securities
or other collateral, including whether certain provisions in the Trust Indenture Act are applicable and any corresponding changes
to provisions of this Indenture as then in effect; and

 

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(30) any other terms of the series, including
any terms which may be required by or advisable under United States laws or regulations or advisable (as determined by the Company)
in connection with the marketing of Securities of the series.

 

(c) The terms applicable to the Securities
of any one series need not be identical but may vary as may be provided in an indenture supplemental hereto. All Securities of
any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the consent
of the Holders, for issuances of additional Securities of such series.

 

(d) Except as may be otherwise expressly
provided in the applicable supplemental indenture, as contemplated by this Section 3.1, the Securities of any series shall rank
PARI PASSU with the Securities of each other Series.

 

Section 3.2. DENOMINATIONS.
Unless otherwise provided as contemplated by Section 3.1, any Securities of a series shall be issuable in denominations of $1,000
and any integral multiple thereof.

 

Section 3.3. EXECUTION, AUTHENTICATION,
DELIVERY AND DATING. Securities shall be executed on behalf of the Company by the Chief Executive
Officer, the Chief Financial Officer, the President, or any Vice President, the Treasurer or the Corporate Secretary of the Company.
The seal of the Company, if any, may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise
reproduced on the Securities. The signatures of any of these officers on the Securities may be manual or facsimile.

 

Securities bearing the manual or facsimile
signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that
such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or
did not hold such offices at the date of such Securities.

 

At any time and from time to time, the Company
may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for
the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and
deliver such Securities.

 

In authenticating such Securities and accepting
the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive,
and (subject to section 315(a) through (d) of the Trust Indenture Act) shall be fully protected in relying upon, an Opinion of
Counsel substantially to the effect that,

 

(1) the form of such Securities have been
established in conformity with the provisions of this Indenture;

 

(2) the terms of such Securities have been,
or in the case of Securities of a series offered in a Periodic Offering will be, established in conformity with the provisions
of this Indenture, subject in the case of Securities offered in a Periodic Offering, to any conditions specified in such Opinion
of Counsel; and

 

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(3) such Securities, when authenticated and
delivered by the Trustee, issued by the Company in accordance with the provisions of this Indenture, and delivered to and duly
paid for by the purchasers thereof, and subject to any conditions specified in such Opinion of Counsel, will constitute legal,
valid and binding obligations of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and other similar laws of general applicability relating to or affecting the enforcement of
creditors’ rights and to general equity principles and except further as enforcement thereof may be limited by or subject
to certain exceptions and qualifications specified in such Opinion of Counsel, including in the case of any Securities denominated
in a Foreign Currency, (A) requirements that a claim with respect to any Securities denominated other than in Dollars (or a foreign
currency or foreign currency unit judgment in respect of such claim) be converted into Dollars at a rate of exchange prevailing
on a date determined pursuant to applicable law or (B) governmental authority to limit, delay or prohibit the making of payments
in foreign currency or currency units or payments outside the United States.

 

Such Opinion of Counsel need express no opinion
as to whether a court in the United States would render a money judgment in a currency other than that of the United States. Such
counsel may rely on opinions of other counsel (copies of which shall be delivered to the Trustee), and, to the extent such opinion
involves factual matters, such counsel may rely upon certificates of officers of the Company and certificates of public officials.

 

The Trustee shall have the right to decline
to execute any supplemental indenture establishing the terms of or the form of such Securities if, in the written opinion of counsel
to the Trustee (which counsel may be an employee of the Trustee), such action may not lawfully be taken, or if the Trustee, in
good faith by a Responsible Officer of the Trustee, shall determine, in its sole discretion, that such action would adversely affect
it.

 

Notwithstanding the provisions of Section
3.1 and of the two preceding paragraphs, if all of the Securities of any series are not to be issued at one time, it shall not
be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.1 or the Company Order and Opinion
of Counsel otherwise required pursuant to the two preceding paragraphs in connection with the authentication of each Security of
such series if such documents, with appropriate modifications to cover such future issuances, are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be issued.

 

With respect to Securities of a series offered
in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of such Securities, the form and terms
thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents
delivered pursuant to Sections 2.1 and 3.1 and this Section, as applicable, in connection with the first authentication of Securities
of such series.

 

If the Company shall establish pursuant to
Section 3.1 that the Securities of a series are to be issued in whole or in part in global form, then, unless otherwise provided
with respect to such Securities pursuant to Section 3.1, the Company shall execute and the Trustee shall, in accordance with this
Section and the Company Order with respect to such series, authenticate and deliver one or more Securities in global form that
(i) shall represent and shall be denominated in an amount equal to the aggregate principal amount of the Outstanding Securities
of such series to be represented by such Security or Securities in global form, (ii) shall be registered, if a Registered Security,
in the name of the Depository for such Security or Securities in global form or the nominee of such Depository, (iii) shall be
delivered by the Trustee to such Depository or pursuant to such Depository’s instruction and (iv) shall bear the legend set
forth in Section 2.4.

 

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Unless otherwise established pursuant to
Section 3.1, each Depository designated pursuant to Section 3.1 for a Registered Security in global form must, at the time of its
designation and at all times while it serves as Depository, be a clearing agency registered under the Securities Exchange Act of
1934, as amended, and any other applicable statute or regulation. Neither the Company nor the Trustee shall have any responsibility
to determine if the Depository is so registered.

 

Each Depository shall enter into an agreement
with the Company and the Trustee, as agent, governing the respective duties and rights of such Depository, the Company and the
Trustee, as agent, with regard to Securities of a series issued in global form.

 

Each Registered Security shall be dated the
date of its authentication as contemplated by Section 3.1.

 

No Security shall be entitled to any benefits
under this Indenture or be valid or obligatory for any purpose until authenticated by the manual signature of one of the authorized
signatories of the Trustee or an Authenticating Agent. Such signature upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered under this Indenture and is entitled to the benefits of
this Indenture.

 

Notwithstanding the foregoing, if any Security
shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such
Security to the Trustee for cancellation as provided in Section 3.9 together with a written statement (which need not comply with
Section 1.2 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by
the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder
and shall not be entitled to the benefits of this Indenture.

 

Section 3.4. TEMPORARY SECURITIES.
Pending the preparation of definitive Securities of any series, the Company may execute and, upon Company Order, the Trustee shall
authenticate and deliver temporary Securities of such series which are printed, lithographed, typewritten, mimeographed or otherwise
produced, in any authorized denomination, substantially of the tenor and form, of the definitive Securities in lieu of which they
are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such
Securities may determine, as conclusively evidenced by their execution of such Securities. In the case of Securities of any series,
all or a portion of such temporary Securities may be in global form.

 

Except in the case of temporary Securities
in global form, each of which shall be exchanged in accordance with the provisions thereof, if temporary Securities of any series
are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After preparation
of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities
of such series upon surrender of the temporary Securities of such series at the office or agency of the Company pursuant to Section
9.2 in a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of the same series of authorized denominations and of like tenor. Until so exchanged,
the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive
Securities of such series except as otherwise specified as contemplated by Section 3.1.

 

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Section 3.5. REGISTRATION, TRANSFER AND
EXCHANGE. The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in
any office or agency to be maintained by the Company in accordance with Section 9.2 in a Place of Payment or in such other place
or medium as may be specified pursuant to Section 3.1 a register for each series of Securities (the registers maintained in such
office or in any such office or agency of the Company in a Place of Payment being herein sometimes referred to collectively as
the “Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Registered Securities and the registration of transfers of Registered Securities. The Register shall be in
written form or any other form capable of being converted into written form within a reasonable time. Unless otherwise provided
as contemplated by Section 3.1, the Trustee is hereby appointed “Registrar” for the purpose of registering Registered
Securities and transfers of Registered Securities, and for the purpose of maintaining the Register in respect thereof, as herein
provided.

 

Upon surrender for registration of transfer
of any Registered Security of any series at the office or agency maintained pursuant to Section 9.2 in a Place of Payment for that
series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Registered Securities of the same series, of any authorized denominations and of a like aggregate
principal amount.

 

Unless otherwise provided as contemplated
by Section 3.1, at the option of the Holder, Registered Securities of any series (except a Registered Security in global form)
may be exchanged for other Registered Securities of the same series, of any authorized denominations and of a like aggregate principal
amount containing identical terms and provisions, upon surrender of the Registered Securities to be exchanged at such office or
agency. Whenever any Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate
and deliver, the Registered Securities which the Holder making the exchange is entitled to receive.

 

Unless otherwise specified pursuant to Section
3.1 with respect to a series of Securities or as otherwise provided below in this Section 3.5, owners of beneficial interests in
Securities of such series represented by a Security issued in global form will not be entitled to have Securities of such series
registered in their names, will not receive or be entitled to receive physical delivery of Securities of such series in certificated
form and will not be considered the Holders or owners thereof for any purposes hereunder. Notwithstanding any other provision of
this Section, unless and until it is exchanged in whole or in part for Securities in certificated form in the circumstances described
below, a Security in global form representing all or a portion of the Securities of a series may not be transferred or exchanged
except as a whole by the Depository for such series to a nominee of such Depository or by a nominee of such Depository to such
Depository or another nominee of such Depository or by such Depository or any such nominee to a successor Depository for such series
or a nominee of such successor Depository.

 

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If at any time the Depository for the Securities
of a series notifies the Company that it is unwilling or unable to continue as Depository for the Securities of such series or
if at any time the Depository for the Securities of such series notifies the Company that it shall no longer be eligible under
Section 3.3, the Company shall appoint a successor Depository with respect to the Securities of such series. Unless otherwise provided
as contemplated by Section 3.1, if a successor Depository for the Securities of such series is not appointed by the Company within
90 days after the Company receives such notice or becomes aware of such ineligibility, the Company’s election pursuant to
Section 3.1(b) (25) shall no longer be effective with respect to the Securities of such series and the Company shall execute, and
the Trustee, upon receipt of a Company Order for the authentication and delivery of certificated Securities of such series of like
tenor, shall authenticate and deliver, Securities of such series of like tenor in certificated form, in authorized denominations
and in an aggregate principal amount equal to the principal amount of the Security or Securities of such series of like tenor in
global form in exchange for such Security or Securities in global form.

 

The Company may at any time in its sole discretion
determine that Securities of a series issued in global form shall no longer be represented by such a Security or Securities in
global form. In such event the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and
delivery of certificated Securities of such series of like tenor, shall authenticate and deliver, Securities of such series of
like tenor in certificated form, in authorized denominations and in an aggregate principal amount equal to the principal amount
of the Security or Securities of such series of like tenor in global form in exchange for such Security or Securities in global
form.

 

If specified by the Company pursuant to Section
3.1 with respect to a series of Securities, the Depository for such series may surrender a Security in global form of such series
in exchange in whole or in part for Securities of such series in certificated form on such terms as are acceptable to the Company
and such Depository. Thereupon, the Company shall execute, and the Trustee shall authenticate and deliver, without service charge,

 

(i) to each Person specified by such Depository
a new certificated Security or Securities of the same series of like tenor, of any authorized denomination as requested by such
Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Security in global
form; and

 

(ii) to such Depository a new Security in
global form of like tenor in a denomination equal to the difference, if any, between the principal amount of the surrendered Security
in global form and the aggregate principal amount of certificated Securities delivered to Holders thereof.

 

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(iii) Upon the exchange of a Security in
global form for Securities in certificated form, such Security in global form shall be cancelled by the Trustee. Securities in
certificated form issued in exchange for a Security in global form pursuant to this Section shall be registered in such names and
in such authorized denominations as the Depository for such Security in global form, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Persons in whose
names such Securities are so registered.

 

Whenever any Securities are surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the
exchange is entitled to receive.

 

All Securities issued upon any registration
of transfer or upon any exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled
to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

 

Every Registered Security presented or surrendered
for registration of transfer or for exchange shall (if so required by the Company, the Registrar or the Trustee) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to the Company, the Registrar and the Trustee duly executed
by the Holder thereof or his attorney duly authorized in writing.

 

Unless otherwise provided as contemplated
by Section 3.1, no service charge shall be made for any registration of transfer or for any exchange of Securities, but the Company
may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration or transfer or exchange of Securities, other than exchanges pursuant to Section 3.4 or 10.7 not involving any transfer.

 

Unless otherwise provided as contemplated
by Section 3.1, none of the Company, the Registrar or the Trustee shall be required (i) to issue, register the transfer of, or
exchange any Securities for a period beginning at the opening of 15 Business Days before any selection for redemption of Securities
of like tenor and of the series of which such Security is a part and ending at the close of business on the earliest date on which
the relevant notice of redemption is deemed to have been given to all Holders of Securities of like tenor and of such series to
be redeemed; or (ii) to register the transfer of or exchange any Registered Security so selected for redemption, in whole or in
part, except the unredeemed portion of any Security being redeemed in part.

 

Section 3.6. REPLACEMENT SECURITIES.
If a mutilated Security is surrendered to the Trustee, together with, in proper cases, such security or indemnity as may be required
by the Company or the Trustee to save each of them harmless, the Company shall execute and the Trustee shall authenticate and
deliver a replacement Registered Security, if such surrendered Security was a Registered Security of the same series and date
of maturity.

 

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If there shall be delivered to the Company
and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice
to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and the
Trustee shall authenticate and deliver in lieu of any such destroyed, lost or stolen Security a replacement Registered Security,
if such Holder’s claim appertains to a Registered Security, of the same series and principal amount, containing identical
terms and provisions and bearing a number not contemporaneously outstanding.

 

In case any such mutilated, destroyed, lost
or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security.

 

Upon the issuance of any new Security under
this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee, its agents and counsel) connected
therewith.

 

Every new Security of any series issued pursuant
to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly
issued hereunder.

 

The provisions of this Section are exclusive
and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities.

 

Section 3.7. PAYMENT OF INTEREST; INTEREST
RIGHTS PRESERVED.

 

(a) Unless otherwise provided as contemplated
by Section 3.1, interest, if any, on any Registered Security which is payable, and is punctually paid or duly provided for, on
any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest at the office or agency maintained for such purpose pursuant
to 9.2; provided, however, that at the option of the Company, interest on any series of Registered Securities that bear interest
may be paid (i) by check mailed to the address of the Person entitled thereto as it shall appear on the Register of Holders of
Securities of such series or (ii) by wire transfer to an account maintained by the Person entitled thereto as specified in the
Register of Holders of Securities of such series.

 

(b) Unless otherwise provided as contemplated
by Section 3.1, any interest on any Registered Security of any series which is payable, but is not punctually paid or duly provided
for, on any interest payment date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company,
at its election in each case, as provided in clause (1) or (2) below:

 

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(1) The Company may elect to make payment
of any Defaulted Interest to the Persons in whose names such Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which
shall be fixed in the following manner. The Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the trustee for such deposit
prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled
to such Defaulted Interest as in this clause (1) provided. Thereupon the Trustee shall fix a Special Record Date for the payment
of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment
and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder
of such Registered Securities of such series at his address as it appears in the Register, not less than 10 days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been
so mailed, such Defaulted Interest shall be paid to the Persons in whose names such Registered Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable
pursuant to the following clause (2).

 

(2) The Company may make payment of any Defaulted
Interest to the Persons in whose names such Registered Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a specified date in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Registered Securities may be listed, and upon such notice as may be required by such exchange,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause (2), such manner of payment
shall be deemed practicable by the Trustee.

 

(c) Subject to the foregoing provisions of
this Section and Section 3.5, each Security delivered under this Indenture upon registration of transfer of or in exchange for
or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.

 

Section 3.8. PERSONS DEEMED OWNERS.
Prior to due presentment of any Registered Security for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name such Registered Security is registered as the owner of such Registered
Security for the purpose of receiving payment of principal of, premium, if any, and (subject to Section 3.7) interest and any
other payments on such Registered Security and for all other purposes whatsoever, whether or not such Registered Security shall
be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the
contrary.

 

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None of the Company, the Trustee or any agent
of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests of a Security in global form, or for maintaining, supervising or reviewing any
records relating to such beneficial ownership interests. Notwithstanding the foregoing, with respect to any Security in global
form, nothing herein shall prevent the Company or the Trustee, or any agent of the Company or the Trustee, from giving effect to
any written certification, proxy or other authorization furnished by any Depository (or its nominee), as a Holder, with respect
to such Security in global form or impair, as between such Depository and owners of beneficial interests in such Security in global
form, the operation of customary practices governing the exercise of the rights of such Depository (or its nominee) as Holder of
such Security in global form.

 

Section 3.9. CANCELLATION.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and any Paying Agent shall forward
to the Trustee any Securities surrendered to them for replacement, for registration of transfer, or for exchange or payment. The
Trustee shall cancel all Securities surrendered for replacement, for registration of transfer, or for exchange, payment, redemption
or cancellation and may destroy cancelled Securities and, if so destroyed, shall issue a certificate of destruction to the Company.
The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

 

Section 3.10. COMPUTATION OF INTEREST.
Except as otherwise specified as contemplated by Section 3.1, interest on the Securities of each series shall be computed on the
basis of a 360-day year of twelve 30-day months.

 

Section 3.11. CURRENCY AND MANNER OF PAYMENT
IN RESPECT OF SECURITIES. (a) Unless otherwise specified with respect to any Securities pursuant
to Section 3.1, with respect to Registered Securities of any series payment of the principal of, premium, if any, interest, if
any, and other amounts, if any, on any Registered Security of such series will be made in the currency or currencies or currency
unit or units in which such Registered Security is payable. The provisions of this Section 3.11, including without limitation
any defined terms specified herein, may be modified or superseded in whole or in part pursuant to Section 3.1 with respect to
any Securities.

 

(b) If expressly specified pursuant to Section
3.1, with respect to Registered Securities of any series, Holders shall have the option, subject to paragraphs (d) and (e) below,
to receive payments of principal of, premium, if any, or interest, if any, on such Registered Securities in any of the currencies
or currency units which may be designated for such election by delivering to the Trustee (or the applicable Paying Agent) a written
election with signature guarantees and in the applicable form established pursuant to Section 3.1, not later than the close of
business on the Election Date immediately preceding the applicable payment date. If a Holder so elects to receive such payments
in any such currency or currency unit, such election will remain in effect for such Holder or any transferee of such Holder until
changed by such Holder or such transferee by written notice to the Trustee (or any applicable Paying Agent) for such series of
Registered Securities (but any such change must be made not later than the close of business on the Election Date immediately preceding
the next payment date to be effective for the payment to be made on such payment date, and no such change of election may be made
with respect to payments to be made on any Registered Security of such series with respect to which an Event of Default has occurred
or with respect to which the Company has deposited funds pursuant to Article IV or with respect to which a notice of redemption
has been given by or on behalf of the Company). Any Holder of any such Registered Security who shall not have delivered any such
election to the Trustee (or any applicable Paying Agent) not later than the close of business on the applicable Election Date will
be paid the amount due on the applicable payment date in the relevant currency or currency unit as provided in Section 3.11(a).
The Trustee (or the applicable Paying Agent) shall notify the Company and the Exchange Rate Agent as soon as practicable after
the Election Date of the aggregate principal amount of Registered Securities for which Holders have made such written election.

 

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(c) If the election referred to in paragraph
(b) above has been provided for with respect to any Registered Securities of a series pursuant to Section 3.1, then, unless otherwise
specified pursuant to Section 3.1 with respect to any such Registered Securities, not later than the fourth Business Day after
the Election Date for each payment date for such Registered Securities, the Exchange Rate Agent will deliver to the Company a written
notice specifying, in the currency or currencies or currency unit or units in which Registered Securities of such series are payable,
the respective aggregate amounts of principal of, premium, if any, and interest, if any, on such Registered Securities to be paid
on such payment date, and specifying the amounts in such currency or currencies or currency unit or units so payable in respect
of such Registered Securities as to which the Holders of such Registered Securities denominated in any currency or currencies or
currency unit or units shall have elected to be paid in another currency or currency unit as provided in paragraph (b) above. If
the election referred to in paragraph (b) above has been provided for with respect to any Registered Securities of a series pursuant
to Section 3.1, and if at least one Holder has made such election, then, unless otherwise specified pursuant to Section 3.1, on
the second Business Day preceding such payment date the Company will deliver to the Trustee (or the applicable Paying Agent) an
Exchange Rate Officer’s Certificate in respect of the Dollar, Foreign Currency or Currencies or other currency unit payments
to be made on such payment date. Unless otherwise specified pursuant to Section 3.1, the Dollar, Foreign Currency or Currencies
or other currency unit amount receivable by Holders of Registered Securities who have elected payment in a currency or currency
unit as provided in paragraph (b) above shall be determined by the Company on the basis of the applicable Market Exchange Rate
in effect on the second Business Day (the “Valuation Date”) immediately preceding each payment date, and such determination
shall be conclusive and binding for all purposes, absent manifest error.

 

(d) If a Conversion Event occurs with respect
to a Foreign Currency or any other currency unit in which Securities of any series are denominated or payable otherwise than pursuant
to an election provided for pursuant to paragraph (b) above, then, unless otherwise specified pursuant to Section 3.1, with respect
to each date for the payment of principal of, premium, if any, and interest, if any, on the applicable Securities denominated or
payable in such Foreign Currency or such other currency unit occurring after the last date on which such Foreign Currency or such
other currency unit was used (the “Conversion Date”), the Dollar shall be the currency of payment for use on each such
payment date (but such Foreign Currency or such other currency unit that was previously the currency of payment shall, at the Company’s
election, resume being the currency of payment on the first such payment date preceded by 15 Business Days during which the circumstances
which gave rise to the Dollar becoming such currency of payment no longer prevail). Unless otherwise specified pursuant to Section
3.1, the Dollar amount to be paid by the Company to the Trustee or any applicable Paying Agent and by the Trustee or any applicable
Paying Agent to the Holders of such Securities with respect to such payment date shall be, in the case of a Foreign Currency other
than a currency unit, the Dollar Equivalent of the Foreign Currency or, in the case of a Foreign Currency that is a currency unit,
the Dollar Equivalent of the Currency Unit, in each case as determined by the Exchange Rate Agent in the manner provided in paragraph
(f) or (g) below.

 

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(e) Unless otherwise specified pursuant to
Section 3.1, if the Holder of a Registered Security of a series denominated in any currency or currency unit shall have elected
to be paid in another currency or currency unit or in other currencies as provided in paragraph (b) above, and (i) a Conversion
Event occurs with respect to any such elected currency or currency unit, such Holder shall receive payment in the currency or currency
unit in which payment would have been made in the absence of such election and (ii) if a Conversion Event occurs with respect to
the currency or currency unit in which payment would have been made in the absence of such election, such Holder shall receive
payment in Dollars as provided in paragraph (d) of this Section 3.11 (but, subject to any contravening valid election pursuant
to paragraph (b) above, the elected payment currency or currency unit, in the case of the circumstances described in clause (i)
above, or the payment currency or currency unit in the absence of such election, in the case of the circumstances described in
clause (ii) above, shall, at the Company’s election, resume being the currency or currency unit of payment with respect to
Holders who have so elected, but only with respect to payments on payment dates preceded by 15 Business Days during which the circumstances
which gave rise to such currency or currency unit, in the case of the circumstances described in clause (i) above, or the Dollar,
in the case of the circumstances described in clause (ii) above, becoming the currency or currency unit, as applicable, of payment,
no longer prevail).

 

(f) The “Dollar Equivalent of the Foreign
Currency” shall be determined by the Exchange Rate Agent and shall be obtained for each subsequent payment date by the Exchange
Rate Agent by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date.

 

(g) The “Dollar Equivalent of the Currency
Unit” shall be determined by the Exchange Rate Agent and, subject to the provisions of paragraph (h) below, shall be the
sum of each amount obtained by converting the Specified Amount of each Component Currency (as each such term is defined in paragraph
(h) below) into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

 

(h) For purposes of this Section 3.11, the
following terms shall have the following meanings:

 

A “Component Currency” shall
mean any currency which, on the Conversion Date, was a component currency of the relevant currency unit.

 

“Conversion Event” shall mean
the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement
of transactions by a central bank or other public institutions of or within the international banking community, or (ii) any currency
unit for the purposes for which it was established.

 

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“Election Date” shall mean the
Regular Record Date for the applicable series of Registered Securities as specified pursuant to Section 3.1 by which the written
election referred to in Section 3.11(b) may be made.

 

“Exchange Rate Agent”, when used
with respect to Securities of or within any series, shall mean, unless otherwise specified with respect to such series of Securities
pursuant to Section 3.1, a New York Clearing House bank designated pursuant to Section 3.1 or Section 3.12.

 

“Exchange Rate Officer’s Certificate”
shall mean a certificate setting forth (i) the applicable Market Exchange Rate or the applicable bid quotation and (ii) the Dollar
or Foreign Currency amounts of principal (and premium, if any) and interest, if any (on an aggregate basis and on the basis of
a Security having the lowest denomination principal amount in the relevant currency or currency unit), payable with respect to
a Security of any series on the basis of such Market Exchange Rate or the applicable bid quotation, signed by the President, the
Chief Executive Officer, the Chief Financial Officer, any Vice President, the Treasurer, or any Assistant Treasurer of the Company.

 

“Market Exchange Rate” shall
mean, unless otherwise specified with respect to Securities of any series pursuant to Section 3.1, as of any date of determination,
(i) for any conversion involving a currency unit on the one hand and Dollars or any Foreign Currency on the other, the exchange
rate between the relevant currency unit and Dollars or such Foreign Currency calculated by the method specified pursuant to Section
3.1 for the Securities of the relevant series, (ii) for any conversion of Dollars into any Foreign Currency, the noon buying rate
for such Foreign Currency for cable transfers quoted in New York City as certified for customs purposes by the Federal Reserve
Bank of New York and (iii) for any conversion of one Foreign Currency into Dollars or another Foreign Currency, the spot rate at
noon local time in the relevant market at which, in accordance with normal banking procedures, the Dollars or Foreign Currency
into which conversion is being made could be purchased with the Foreign Currency from which conversion is being made from major
banks located in New York City, London or any other principal market for Dollars or such purchased Foreign Currency, in each case
determined by the Exchange Rate Agent. Unless otherwise specified with respect to Securities of any series pursuant to Section
3.1, in the event of the unavailability of any of the exchange rates provided for in the foregoing clauses (i), (ii) and (iii),
the Exchange Rate Agent shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve
Bank of New York as of the most recent available date, or quotations from one or more major banks in New York City, London or other
principal market for such currency or currency unit in question (which may include any such bank acting as Trustee under this Indenture),
or such other quotations as the Exchange Rate Agent shall deem appropriate. Unless otherwise specified by the Exchange Rate Agent,
if there is more than one market for dealing in any currency or currency unit by reason of foreign exchange regulations or otherwise,
the market to be used in respect of such currency or currency unit shall be that upon which a nonresident issuer of securities
designated in such currency or currency unit would purchase such currency or currency unit in order to make payments in respect
of such securities.

 

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A “Specified Amount” of a Component
Currency shall mean the number of units of such Component Currency or fractions thereof which such Component Currency represented
in the relevant currency unit on the Conversion Date. If after the Conversion Date the official unit of any Component Currency
is altered by way of combination or subdivision, the Specified Amount of such Component Currency shall be divided or multiplied
in the same proportion. If after the Conversion Date two or more Component Currencies are consolidated into a single currency,
the respective Specified Amounts of such Component Currencies shall be replaced by an amount in such single currency equal to the
sum of the respective Specified Amounts of such consolidated Component Currencies expressed in such single currency, and such amount
shall thereafter be a Specified Amount and such single currency shall thereafter be a Component Currency. If after the Conversion
Date any Component Currency shall be divided into two or more currencies, the Specified Amount of such Component Currency shall
be replaced by specified amounts of such two or more currencies, the sum of which, at the Market Exchange Rate of such two or more
currencies on the date of such replacement, shall be equal to the Specified Amount of such former Component Currency and such amounts
shall thereafter be Specified Amounts and such currencies shall thereafter be Component Currencies. If, after the Conversion Date
of the relevant currency unit, a Conversion Event (other than any event referred to above in this definition of “Specified
Amount”) occurs with respect to any Component Currency of such currency unit and is continuing on the applicable Valuation
Date, the Specified Amount of such Component Currency shall, for purposes of calculating the Dollar Equivalent of the Currency
Unit, be converted into Dollars at the Market Exchange Rate in effect on the Conversion Date of such Component Currency.

 

All decisions and determinations of the Exchange
Rate Agent regarding the Dollar Equivalent of the Foreign Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange
Rate and changes in the Specified Amounts as specified above with respect to Securities of any series shall be in its sole discretion
and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the Company, the Trustee
(and any applicable Paying Agent) and all Holders of Securities of such series denominated or payable in the relevant currency,
currencies or currency units. The Exchange Rate Agent shall promptly give written notice to the Company and the Trustee of any
such decision or determination.

 

In the event that the Company determines
in good faith that a Conversion Event has occurred with respect to a Foreign Currency, the Company will promptly give written notice
thereof to the Trustee (or any applicable Paying Agent) and to the Exchange Rate Agent (and the Trustee (or such Paying Agent)
will promptly thereafter give notice in the manner provided in Section 1.6 to the affected Holders) specifying the Conversion Date.
In the event the Company so determines that a Conversion Event has occurred with respect to any currency unit in which Securities
of a series are denominated or payable, the Company will promptly give written notice thereof to the Trustee (or any applicable
Paying Agent) and to the Exchange Rate Agent (and the Trustee (or such Paying Agent) will promptly thereafter give notice in the
manner provided in Section 1.6 to the affected Holders) specifying the Conversion Date and the Specified Amount of each Component
Currency on the Conversion Date. In the event the Company determines in good faith that any subsequent change in any Component
Currency as set forth in the definition of Specified Amount above has occurred, the Company will similarly give written notice
to the Trustee (or any applicable Paying Agent) and to the Exchange Rate Agent.

 

The Trustee of the appropriate series of
Securities shall be fully justified and protected in relying and acting upon information received by it from the Company and the
Exchange Rate Agent and shall not otherwise have any duty or obligation to determine the accuracy or validity of such information
independent of the Company or the Exchange Rate Agent.

 

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Section 3.12. APPOINTMENT AND RESIGNATION
OF EXCHANGE RATE AGENT. (a) Unless otherwise specified pursuant to Section 3.1, if and so long as
the Securities of any series (i) are denominated in a currency or currency unit other than Dollars or (ii) may be payable in a
currency or currency unit other than Dollars, or so long as it is required under any other provision of this Indenture, then the
Company will maintain with respect to each such series of Securities, or as so required, at least one Exchange Rate Agent. The
Company will cause the Exchange Rate Agent to make the necessary foreign exchange determinations at the time and in the manner
specified pursuant to Section 3.11 for the purpose of determining the applicable rate of exchange and, if applicable, for the
purpose of converting the issued currency or currencies or currency unit or units into the applicable payment currency or currency
unit for the payment of principal, premium, if any, and interest, if any, pursuant to Section 3.11.

 

(b) No resignation of the Exchange Rate Agent
and no appointment of a successor Exchange Rate Agent pursuant to this Section shall become effective until the acceptance of appointment
by the successor Exchange Rate Agent as evidenced by a written instrument delivered to the Company and the Trustee of the appropriate
series of Securities accepting such appointment executed by the successor Exchange Rate Agent.

 

(c) If the Exchange Rate Agent shall resign,
be removed or become incapable of acting, or if a vacancy shall occur in the office of the Exchange Rate Agent for any cause, with
respect to the Securities of one or more series, the Company shall promptly appoint a successor Exchange Rate Agent or Exchange
Rate Agents with respect to the Securities of that or those series (it being understood that any such successor Exchange Rate Agent
may be appointed with respect to the Securities of one or more or all of such series and that, unless otherwise specified pursuant
to Section 3.1, at any time there shall only be one Exchange Rate Agent with respect to the Securities of any particular series
that are originally issued by the Company on the same date and that are initially denominated and/or payable in the same currency
or currencies or currency unit or units).

 

Section 3.13. WIRE TRANSFERS.
Notwithstanding any other provisions to the contrary in this Indenture, the Company may make any payment of monies required to
be deposited with the Trustee on account of principal of, or premium, if any, or interest on, Securities of any series (whether
pursuant to optional or mandatory redemption payments, interest payment or otherwise) by wire transfer and immediately available
funds to an account designated by the Trustee on or before the date and time such monies are to be paid to the Holders of the
Security of such series in accordance with the terms hereof.

 

Section 3.14. CUSIP NUMBERS AND ISINS.
The Company in issuing Securities may use “CUSIP” numbers or “ISINs”, and if so, the Trustee may use the
CUSIP numbers or ISINs in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice
may state that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN printed in the notice or
on the Securities, that reliance may be placed only on the other identification numbers printed on the Securities, and any such
redemption or exchange shall not be affected by any defect or omission of such CUSIP numbers or ISINs. The Company will promptly
notify the Trustee of any change in CUSIP numbers or ISINs known to an Officer of the Company.

 

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Article
IV

 

SATISFACTION,
DISCHARGE AND DEFEASANCE 

 

Section 4.1. TERMINATION OF COMPANY’S
OBLIGATIONS UNDER THE INDENTURE. (a) This Indenture shall upon Company Request cease to be of further
effect with respect to Securities of or within any series (except as to any surviving rights of registration of transfer or exchange
of such Securities and replacement of such Securities which may have been lost, stolen or mutilated as herein expressly provided
for) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture with respect to such Securities when

 

(1) either

 

(A) all such Securities
previously authenticated and delivered (other than (i) such Securities which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 3.6 and (ii) such Securities for whose payment money has theretofore been deposited
in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 9.3) have been delivered to the Trustee for cancellation; or

 

(B) all Securities of
such series not theretofore delivered to the Trustee for cancellation

 

(i) have become due and payable, or

 

(ii) will become due and payable at their
Stated Maturity within one year, or

 

(iii) if redeemable at the option of the
Company, are to be called for redemption within one year under arrangements satisfactory to the Trustee for giving of notice of
redemption, and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with
the Trustee as trust funds in trust for the purpose an amount in the currency or currencies or currency unit or units in which
the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such Securities not theretofore
delivered to the Trustee for cancellation, for principal, premium, if any, and interest, with respect thereto, to the date of such
deposit (in the case of any such Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as
the case may be;

 

(2) the Company has paid or caused to be
paid all other sums then payable hereunder by the Company; and

 

(3) the Company has delivered to the Trustee
an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating
to the satisfaction and discharge of this Indenture as to such series have been complied with.

 

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Notwithstanding the satisfaction and discharge
of this Indenture, the obligation of the Company to the Trustee and any predecessor Trustee under Section 6.8 and the obligations
of the Company to any Authenticating Agent under Section 6.13 shall survive until the Securities of the discharged series have
been paid in full, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section,
the obligations of the Trustee under Section 4.2 and the last paragraph of Section 9.3 shall survive in accordance with the terms
of such Sections.

 

Section 4.2. APPLICATION OF TRUST FUNDS.
Subject to the provisions of the last paragraph of Section 9.3, all money deposited with the Trustee pursuant to Section 4.1 shall
be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal, premium, if any and any interest for whose payment such money has been deposited with
or received by the Trustee, but such money need not be segregated from other funds except to the extent required by law.

 

Section 4.3. APPLICABILITY OF DEFEASANCE
PROVISIONS; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE. Unless pursuant
to Section 3.1 provision is made to exclude with respect to the Securities of a particular series either or both of (i) defeasance
of the Securities of or within such series under Section 4.4 or (ii) covenant defeasance of the Securities of or within such series
under Section 4.5, then, in addition to the rights of the Company pursuant to Section 4.1 above, the provisions of such Section
or Sections, as the case may be, together with the provisions of Sections 4.6 through 4.9 inclusive, with such modifications thereto
as may be specified pursuant to Section 3.1 with respect to any Securities of such series, shall be applicable to such Securities
and the Company may at its option, at any time, with respect to such Securities elect to have Section 4.4 (if applicable) or Section
4.5 (if applicable) be applied to such Outstanding Securities upon compliance with the conditions set forth below in this Article.

 

Section 4.4. DEFEASANCE AND DISCHARGE.
Upon the Company’s exercise of the option specified in Section 4.3 applicable to this Section with respect to the Securities
of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Securities
on the date the conditions set forth in Section 4.6 are satisfied (hereinafter, a “defeasance”). For this purpose,
such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such
Securities which Securities shall thereafter be deemed to be “Outstanding” only for the purposes of Section 4.7 and
the other Sections of this Indenture referred to in clause (ii) of this Section, and to have satisfied all its other obligations
under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company,
shall on Company Order execute proper instruments acknowledging the same), except the following which shall survive until otherwise
terminated or discharged hereunder: (i) the rights of Holders of such Securities to receive, solely from the trust funds described
in Section 4.6(a) and as more fully set forth in such Section, payments in respect of the principal of, premium, if any, and interest,
if any, on such Securities when such payments are due; (ii) the Company’s obligations with respect to such Securities under
Sections 3.5, 3.6, 9.2 and 9.3 and with respect to the payment of additional amounts, if any, payable with respect to such Securities
as specified pursuant to Section 3.1(b) (18); (iii) the rights, powers, trusts, duties, immunities and indemnities of the Trustee
hereunder and (iv) this Article IV. Subject to compliance with this Article IV, the Company may exercise its option under this
Section notwithstanding the prior exercise of its option under Section 4.5 with respect to such Securities. Following a defeasance,
payment of such Securities may not be accelerated because of an Event of Default.

 

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Section 4.5. COVENANT DEFEASANCE.
Upon the Company’s exercise of the option specified in Section 4.3 applicable to this Section with respect to any Securities
of or within a series, the Company shall be released from its obligations under Sections 7.1, 9.4 and 9.5, and, if specified pursuant
to Section 3.1, its obligations under any other covenant, with respect to such Securities on and after the date the conditions
set forth in Section 4.6 are satisfied (hereinafter, “covenant defeasance”), and such Securities shall thereafter
be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders
(and the consequences of any thereof) in connection with Sections 7.1, 9.4 and 9.5, or such other specified covenant, and the
operation of Sections 5.1(3) and 5.1(6), but shall continue to be deemed “Outstanding” for all other purposes hereunder.
For this purpose, such covenant defeasance means that, with respect to such Securities, the Company may omit to comply with and
shall have no liability in respect of any term, condition or limitation set forth in any such Section or such other covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason
of reference in any such Section or such other covenant to any other provision herein or in any other document and such omission
to comply shall not constitute a Default or an Event of Default under Section 5.1(3) or 5.1(6) or otherwise, as the case may be,
but, except as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby.

 

Section 4.6. CONDITIONS TO DEFEASANCE OR
COVENANT DEFEASANCE. The following shall be the conditions to application of Section 4.4 or Section
4.5 to any Securities of or within a series:

 

(a) The Company shall have deposited or caused
to be deposited irrevocably with the Trustee (or another trustee satisfying the requirements of Section 6.11 who shall agree to
comply with, and shall be entitled to the benefits of, the provisions of Sections 4.3 through 4.9 inclusive and the last paragraph
of Section 9.3 applicable to the Trustee, for purposes of such Sections also a “Trustee”) as trust funds in trust for
the purpose of making the payments referred to in clauses (x) and (y) of this Section 4.6(a), with instructions to the Trustee
as to the application thereof, (A) money in an amount (in such currency, currencies or currency unit in which such Securities are
then specified as payable at Maturity), or (B) Government Obligations which through the payment of interest and principal in respect
thereof in accordance with their terms will provide, not later than one day before the due date of any payment referred to in clause
(x) or (y) of this Section 4.6(a), money in an amount or (C) a combination thereof in an amount, sufficient, in the determination
of a nationally recognized independent accounting or investment banking firm expressed in a written certification thereof delivered
to the Trustee in the case of clauses (B) or (C), to pay and discharge, and which shall be applied by the Trustee to pay and discharge,
(x) the principal of, premium, if any, and interest, if any, on such Securities on the Maturity of such principal or installment
of principal or interest and (y) any mandatory sinking fund payments applicable to such Securities on the day on which such payments
are due and payable in accordance with the terms of this Indenture and such Securities.

 

    35

     

    

 

Before such a deposit, the Company may make
arrangements satisfactory to the Trustee for the redemption of such Securities at a future date or dates in accordance with Article
X which shall be given effect in applying the foregoing.

 

(b) The deposit pursuant to subsection (a)
above shall not result in or constitute a Default or Event of Default under this Indenture or result in a breach or violation of,
or constitute a default under, any other material agreement or instrument to which the Company is a party or by which it is bound.

 

(c) In the case of an election under Section
4.4, no Default or Event of Default under Section 5.1(4) or 5.1(5) with respect to such Securities shall have occurred and be continuing
during the period commencing on the date of such deposit and ending on the 91st day after such date (it being understood that this
condition shall not be deemed satisfied until the expiration of such period).

 

(d) In the case of an election under Section
4.4, the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel to the effect that
(i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date
of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect
that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize income, gain or loss
for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same amounts and
in the same manner and at the same times, as would have been the case if such deposit, defeasance and discharge had not occurred.

 

(e) In the case of an election under Section
4.5, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will
not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will be subject
to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant
defeasance had not occurred.

 

(f) The Company shall have delivered to the
Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance
under Section 4.4 or the covenant defeasance under Section 4.5 (as the case may be) have been complied with and an Opinion of Counsel
to the effect that either (i) as a result of a deposit pursuant to subsection (a) above and the related exercise of the Company’s
option under Section 4.4 or Section 4.5 (as the case may be), registration is not required under the Investment Company Act of
1940, as amended, by the Company, with respect to the trust funds representing such deposit or by the trustee for such trust funds
or (ii) all necessary registrations under said act have been effected.

 

(g) Such defeasance or covenant defeasance
shall be effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the
Company in connection therewith as contemplated by Section 3.1.

 

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Section 4.7. DEPOSITED MONEY AND GOVERNMENT
OBLIGATIONS TO BE HELD IN TRUST. Subject to the provisions of the last paragraph of Section 9.3,
all money and Government Obligations (or other property as may be provided pursuant to Section 3.1) (including the proceeds thereof)
deposited with the Trustee pursuant to Section 4.6 in respect of any Securities of any series shall be held in trust and applied
by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities
of all sums due and to become due thereon in respect of principal, premium, if any, and interest, if any, but such money need
not be segregated from other funds except to the extent required by law.

 

If specified with respect to a Security of
any series pursuant to Section 3.1, if, after a deposit referred to in Section 4.6(a) has been made, (i) the Holder of such Security
in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 3.11(b) or the terms of such Security
to receive payment in a currency or currency unit other than that in which the deposit pursuant to Section 4.6(a) has been made
in respect of such Security, or (ii) a Conversion Event occurs as contemplated in Section 3.11(d) or 3.11(e) or by the terms of
the Security in respect of which the deposit pursuant to Section 4.6(a) has been made, the indebtedness represented by such Security
shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of, premium, if
any, and interest, if any, on such Security as the same becomes due out of the proceeds yielded by converting (from time to time
as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the
currency or currency unit in which such Security becomes payable as a result of such election or Conversion Event based on the
applicable Market Exchange Rate for such currency or currency unit in effect on the second Business Day prior to each payment date,
except, with respect to a Conversion Event, for such currency or currency unit in effect (as nearly as feasible) at the time of
the Conversion Event.

 

Section 4.8. REPAYMENT TO COMPANY.
The Trustee (and any Paying Agent) shall promptly pay to the Company upon Company Request any excess money or securities held
by them at any time.

 

Section 4.9. INDEMNITY FOR GOVERNMENT OBLIGATIONS.
The Company shall pay, and shall indemnify the Trustee against, any tax, fee or other charge imposed on or assessed against Government
Obligations deposited pursuant to this Article or the principal and interest received on such Government Obligations, other than
any such tax, fee or other charge that by law is for the account of the Holders of the Securities subject to defeasance or covenant
defeasance pursuant to this Article.

 

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Article
V

 

DEFAULTS
AND REMEDIES 

 

Section 5.1. EVENTS OF DEFAULT.
An “Event of Default” occurs with respect to the Securities of any series, except to the extent such event is specifically
deleted or modified by the applicable Board Resolutions or supplemental indenture as contemplated by Section 3.1 for the Securities
of such series, if (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected
by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body):

 

(1) the Company defaults in the payment of
interest on any Security of that series or any additional amount payable with respect to any Security of that series as specified
pursuant to Section 3.1(b)(17) when the same becomes due and payable and such default continues for a period of 30 days;

 

(2) the Company defaults in the payment of
the principal of or any premium on any Security of that series when the same becomes due and payable at its Maturity or on redemption
or otherwise, or in the payment of a mandatory sinking fund payment when and as due by the terms of the Securities of that series;

 

(3) the Company defaults in the performance
of, or breaches, any covenant or warranty of the Company in this Indenture with respect to any Security of that series (other than
a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with), and
such default or breach continues for a period of 90 days after there has been given, by registered or certified mail, to the Company
by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities
of that series, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” hereunder;

 

(4) the Company, pursuant to or within the
meaning of any Bankruptcy Law, (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an
involuntary case, (C) consents to the appointment of a Custodian of it or for all or substantially all of its property, or (D)
makes a general assignment for the benefit of its creditors;

 

(5) a court of competent jurisdiction enters
an order or decree under any Bankruptcy Law that (A) is for relief against the Company in an involuntary case, (B) appoints a Custodian
of the Company or for all or substantially all of its property, or (C) orders the liquidation of the Company; and the order or
decree remains unstayed and in effect for 90 days; or

 

(6) any other Event of Default provided as
contemplated by Section 3.1 with respect to Securities of that series.

 

The term “Bankruptcy Law” means
Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. The term “Custodian” means any
receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

Section 5.2. ACCELERATION; RESCISSION AND
ANNULMENT. If an Event of Default with respect to the Securities of any series at the time Outstanding
occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of all of the Outstanding Securities
of that series, by written notice to the Company (and, if given by the Holders, to the Trustee), may declare the principal (or,
if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount
or other amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable and
upon any such declaration such principal (or, in the case of Original Issue Discount Securities or Indexed Securities, such specified
amount) shall be immediately due and payable.

 

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At any time after such a declaration of acceleration
with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained
by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding
Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all
existing Defaults and Events of Default with respect to Securities of that series, other than the non-payment of the principal
of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided
in Section 5.7. Upon any such rescission, the parties hereto shall be restored respectively to their several positions and rights
hereunder, and all rights, remedies and powers of the parties hereto shall continue as though no acceleration had occurred.

 

Section 5.3. COLLECTION OF INDEBTEDNESS
AND SUITS FOR ENFORCEMENT BY TRUSTEE. The Company covenants that if:

 

(1) default is made in the payment of any
interest on any Security of any series, when such interest becomes due and payable and such default continues for a period of 30
days, or

 

(2) default is made in the payment of the
principal of (or premium, if any, on) any Security of any series at the Maturity thereof and such default continues for a period
of 10 days,

 

the Company will, upon demand of the Trustee,
pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal,
premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal, premium, if any, and on any overdue interest, at the rate or rates prescribed therefor in such Securities.

 

If the Company fails to pay such principal,
premium, if any, and interest amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust,
may institute a judicial proceeding for the collection of such principal, premium, if any, and interest amounts so due and unpaid,
may prosecute such proceeding to judgment or final decree and may enforce the same against the Company.

 

In addition, if an Event of Default with
respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed, in its own name and as
trustee of an express trust, to protect and enforce its rights and the rights of the Holders of Securities of such series by such
appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the
specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to
enforce any other proper remedy.

 

Section 5.4. TRUSTEE MAY FILE PROOFS OF
CLAIM. The Trustee may file such proofs of claim and other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee and the Holders of Securities of each series allowed in any judicial proceedings
relating to the Company, its creditors or its property.

 

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Section 5.5. TRUSTEE MAY ENFORCE CLAIMS
WITHOUT POSSESSION OF SECURITIES. All rights of action and claims under this Indenture or the Securities
of any series may be prosecuted and enforced by the Trustee, in its own name and as trustee of an express trust, without the possession
of any of the Securities of such series or the production thereof in any proceeding relating thereto.

 

Section 5.6. DELAY OR OMISSION NOT WAIVER.
No delay or omission by the Trustee or any Holder of any Securities to exercise any right or remedy accruing upon an Event of
Default shall impair any such right or remedy or constitute a waiver of or acquiescence in any such Event of Default.

 

Section 5.7. WAIVER OF PAST DEFAULTS.
The Holders of a majority in aggregate principal amount of Outstanding Securities of any series by notice to the Trustee may waive
on behalf of the Holders of all Securities of such series a past Default or Event of Default with respect to that series and its
consequences except a Default or Event of Default (i) in the payment of the principal of, premium, if any, or interest on any
Security of such series or (ii) in respect of a covenant or provision hereof which pursuant to Section 8.2 cannot be amended or
modified without the consent of the Holder of each Outstanding Security of such series adversely affected. Upon any such waiver,
such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose
of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right
consequent thereon. In case of any such waiver, the Company, the Trustee and the Holders shall be restored to their former positions
and rights hereunder and under the Securities of such series, respectively.

 

Section 5.8. CONTROL BY MAJORITY.
The Holders of a majority in aggregate principal amount of the Outstanding Securities of each series affected (with each such
series voting as a class) shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or exercising any trust or power conferred on it with respect to Securities of that series; provided,
however, that (i) the Trustee may refuse to follow any direction that conflicts with law or this Indenture, (ii) the Trustee may
refuse to follow any direction that is unduly prejudicial to the rights of the Holders of Securities of such series not consenting,
or that would in the good faith judgment of the Trustee have a substantial likelihood of involving the Trustee in personal liability
and (iii) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 

Section 5.9. LIMITATION ON SUITS BY HOLDERS.
No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect
to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

 

(1) the Holder has previously given written
notice to the Trustee of a continuing Event of Default with respect to the Securities of that series;

 

(2) the Holders of at least 25% in aggregate
principal amount of the Outstanding Securities of that series have made a written request to the Trustee to institute proceedings
in respect of such Event of Default in its own name as Trustee hereunder;

 

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(3) such Holder or Holders have offered to
the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense to be, or which may be, incurred by the
Trustee in pursuing the remedy;

 

(4) the Trustee for 60 days after its receipt
of such notice, request and the offer of indemnity has failed to institute any such proceedings; and

 

(5) during such 60 day period, the Holders
of a majority in aggregate principal amount of the Outstanding Securities of that series have not given to the Trustee a direction
inconsistent with such written request.

 

No one or more Holders shall have any right
in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights
of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce
any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders.

 

Section 5.10. RIGHTS OF HOLDERS TO RECEIVE
PAYMENT. Notwithstanding any other provision of this Indenture, but subject to Section 9.2, the
right of any Holder of a Security to receive payment of principal of, premium, if any, and, subject to Sections 3.5 and 3.7, interest
on the Security of such Holder, on or after the respective due dates expressed in the Security of such Holder (or, in case of
redemption, on the redemption dates), or to bring suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of such Holder.

 

Section 5.11. APPLICATION OF MONEY COLLECTED.
If the Trustee collects any money pursuant to this Article with respect to a particular series of Securities, it shall pay out
the money in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal, premium, if any, or interest, upon presentation of the Securities of the applicable series and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

First: to the Trustee for amounts due under
Section 6.8 in connection with such series of Securities in respect of which money or other property is collected;

 

Second: Subject to the terms of any subordination
entered into as contemplated by Section 3.1(b) (27) hereof, to Holders of Securities of such series in respect of which or for
the benefit of which such money has been collected for amounts due and unpaid on such Securities for principal of, premium, if
any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities
for principal, premium, if any, and interest, respectively; and

 

Third: The balance, if any, to the Company.

 

The Trustee may fix a record date and payment
date for any payment to Holders pursuant to this Section 5.11. At least 15 days before such record date, the Trustee shall mail
to each Holder and the Company a notice that states the record date, the payment date and the amount to be paid.

 

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Unless otherwise specified in a supplemental
indenture with respect to a series of Securities, in any case where Securities of a series are outstanding which are denominated
in more than one currency, or in a composite currency and at least one other currency, and the Trustee is directed to make ratable
payments under this Section to Holders of Securities of such series, the Trustee shall calculate the amount of such payments as
follows: as of the day the Trustee collects an amount under this Article, the Trustee shall, (i) as to each Holder of a Security
of such series to whom an amount is due and payable under this Section which is denominated in a foreign currency or a composite
currency, determine that amount of Dollars that would be obtained for the amount owing such Holder, using the rate of exchange
at which in accordance with normal banking procedures the Trustee could purchase in Dollars as of such day with such amount owing,
(ii) calculate the sum of all Dollar amounts determined under (i) and add thereto any amounts due and payable in Dollars; and (iii)
using the individual amounts determined in (i) or any individual amounts due and payable in Dollars, as the case may be, as a numerator
and the sum calculated in (ii) as a denominator, calculate as to each Holder of a Security of such series to whom an amount is
owed under this Section the fraction of the amount collected under this Article payable to such Holder. Any expenses incurred by
the Trustee in actually converting amounts owing Holders of Securities of a series denominated in a currency or composite currency
other than that in which any amount is collected under this Article shall be likewise (in accordance with this paragraph) be borne
ratably by all Holders of Securities of such series to whom amounts are payable under this Section.

 

Unless otherwise specified in the supplemental
indenture with respect to a series of Securities, to the fullest extent allowed under applicable law, if for the purpose of obtaining
judgment against the Company in any court it is necessary to convert the sum due in respect of the principal of, or any premium
or interest on the Securities of any series (the “Required Currency”) into a currency in which judgment will be rendered
(the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures
the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Business Day
preceding that on which final judgment is given. The Company shall not be liable for any shortfall in payments to Holders of Securities
of a series under this Section caused by a change in exchange rates between the time the amount of a judgment against it is calculated
as above and the time the Trustee converts the Judgment Currency into the Required Currency to make payments under this Section
to Holders of such Securities, but payment of such judgment shall discharge all amounts owed by the Company on the claim or claims
underlying such judgment.

 

Section 5.12. RESTORATION OF RIGHTS AND
REMEDIES. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to
the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the
Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights
and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 

Section 5.13. RIGHTS AND REMEDIES CUMULATIVE.
Except as otherwise provided in Section 5.9 or with respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities in the last paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or the Holders
is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion
or employment of any other appropriate right or remedy.

 

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Article
VI

 

THE
TRUSTEE 

 

Section 6.1. DUTIES AND RESPONSIBILITIES
OF TRUSTEE; RELIANCE ON DOCUMENTS, OPINIONS, ETC. (a) The Trustee, prior to the occurrence of an
Event of Default and after the curing or waiver of all Events of Default that may have occurred, undertakes to perform such duties
and only such duties as are specifically set forth in this Indenture. In the event an Event of Default has occurred and is continuing,
the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs;
provided that if an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the
rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered to the
Trustee indemnity or security satisfactory to it in its reasonable discretion against any loss, liability or expense that might
be incurred by it in compliance with such request or direction.

 

No provision of this Indenture shall be construed
to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct,
except that:

 

(1) prior to the occurrence of an Event of
Default and after the curing or waiving of all Events of Default that may have occurred:

 

(2) the duties and obligations of the Trustee
shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance
of such duties and obligations as are specifically set forth in this Indenture and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

 

(3) in the absence of bad faith and willful
misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture; but, in the case of any such certificates or opinions that by any provisions hereof are specifically required
to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations or other
facts stated therein);

 

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(4) the Trustee shall not be liable for any
error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless it shall be proved that the Trustee
was grossly negligent in ascertaining the pertinent facts;

 

(5) the Trustee shall not be liable with
respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of not less
than a majority of the aggregate principal amount of the Securities at the time outstanding relating to the time, method and place
of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture;

 

(6) whether or not therein provided, every
provision of this Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee shall
be subject to the provisions of this clause (a) and clause (b) below;

 

(7) the Trustee shall not be liable in respect
of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected
by the Company or any Paying Agent or any records maintained by any co- Registrar with respect to the Securities;

 

(8) if any party fails to deliver a notice
relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may
conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless a Responsible Officer
of the Trustee had actual knowledge of such event;

 

(9) in the absence of written investment
direction from the Company, all cash received by the Trustee shall be placed in a non-interest bearing trust account, and in no
event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred
as a result of the liquidation of any such investment prior to its maturity date or the failure of the party directing such investments
prior to its maturity date or the failure of the party directing such investment to provide timely written investment direction,
and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment
direction from the Company; and

 

(10) in the event that the Trustee is also
acting as custodian, Registrar, Paying Agent, Conversion Agent or transfer agent hereunder, the rights and protections afforded
to the Trustee pursuant to this Article VI shall also be afforded to such custodian, Registrar, Paying Agent, Conversion Agent
or transfer agent.

 

None of the provisions contained in this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal or financial liability in the performance
of any of its duties or in the exercise of any of its rights or powers. The Trustee shall not be required to give any bond or surety
in respect of the performance of its powers or duties hereunder. The Trustee will be under no obligation to exercise any of its
rights and powers under this Indenture at the request or direction of the Holders unless such Holder has offered to the Trustee
security or indemnity satisfactory to it in its reasonable discretion against any loss, liability or expense.

 

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(b) Except as otherwise provided in ‎the
foregoing clause (a) of this Section 6.1:

 

(1) the Trustee may conclusively rely and
shall be fully protected in acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent,
order, bond, note, coupon or other paper or document believed by it in good faith to be genuine and to have been signed or presented
by the proper party or parties;

 

(2) any request, direction, order or demand
of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect
thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified
by the Corporate Secretary or an Assistant Secretary of the Company;

 

(3) the Trustee may consult with counsel
of its own selection and require an Opinion of Counsel and any advice of such counsel or Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such
advice or Opinion of Counsel;

 

(4) the Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such
further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or
by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation;

 

(5) the Trustee may execute any of the trusts
or powers hereunder or perform any duties hereunder either directly or by or through a co-trustee, agents, custodians, nominees
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent, custodian, nominee
or attorney appointed by it with due care hereunder;

 

(6) the permissive rights of the Trustee
enumerated herein shall not be construed as duties;

 

(7) the Trustee shall not be liable for any
action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the
discretion or rights or powers conferred upon it by this Indenture;

 

(8) the Trustee shall not be responsible
for monitoring the performance of other persons or for the failure of others to perform their duties;

 

(9) the Holders will not direct the Trustee
to take action contrary to this Indenture, the Securities or applicable law, and the Trustee is not obligated to follow any instruction
of the Holders that is contrary to this Indenture, the Securities or applicable law;

 

(10) the Trustee may request that the Company
deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time
to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized
to sign an Officers’ Certificate, including any Person specified as so authorized in any such certificate previously delivered
and not superseded;

 

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(11) the Trustee shall not be required to
give any bond or surety in respect of the execution of the trusts and powers under this Indenture;

 

(12) in no event shall the Trustee be liable
for any special, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits),
even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;

 

(13) the Trustee shall not be charged with
knowledge of any Default or Event of Default with respect to the Securities, unless either (1) a Responsible Officer shall have
actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default shall have been
given to the Trustee by the Company or actually received by a Responsible Officer at the Corporate Trust Office of the Trustee
from the Company, a Paying Agent, any Holder or any agent of any Holder, referencing this Indenture;

 

(14) the Trustee shall not be responsible
or liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused, directly
or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood;
terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunction of utilities, computer
(hardware or soft-ware) or communication services; accidents; labor disputes; and acts of civil or military authorities and governmental
action; and

 

(15) neither the Trustee nor any of its directors,
officers, employees, agents or affiliates shall be responsible for nor have any duty to monitor the performance or any action of
the Company, or any of their respective directors, members, officers, agents, affiliates or employee, nor shall it have any liability
in connection with the malfeasance or nonfeasance by such party, nor shall the Trustee be responsible for any inaccuracy in the
information obtained from the Company or for any inaccuracy or omission in the records which may result from such information or
any failure by the Trustee to perform its duties as set forth herein as a result of any inaccuracy or incompleteness.

 

Section 6.2. TRUSTEE, PAYING AGENTS, CONVERSION
AGENTS OR REGISTRAR MAY HOLD SECURITIES. The Trustee, any Paying Agent, any Registrar or any other
agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections
310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company, an Affiliate or Subsidiary with the same rights
it would have if it were not Trustee, Paying Agent, Registrar or such other agent.

 

Section 6.3. MONIES TO BE HELD IN TRUST.
Subject to the provisions of Section 4.8 and the last paragraph of Section 9.3, all moneys received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated
from other funds except to the extent required by law. The Trustee shall be under no liability for investment of or interest on
any money received by it hereunder except as otherwise agreed with the Company. Except for amounts deposited pursuant to Article
IV, so long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid
from time to time to the Company upon a Company Order. The Trustee shall not be obligated to take possession of any Common Stock,
whether upon conversion or in connection with any discharge of this Indenture pursuant hereto.

 

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Section 6.4. NO RESPONSIBILITIES FOR RECITALS,
ETC. The recitals contained herein and in the Securities (except in the Trustee’s certificate
of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness
of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities, except
that the Trustee represents and warrants that it is duly authorized to execute and deliver this Indenture, authenticate the Securities
and perform its obligations hereunder and thereunder; that the statements made by it in a Statement of Eligibility and Qualification
on Form T-1 supplied or to be supplied to the Company in connection with the registration of any Securities are and at the time
of delivery will be true and accurate; and that such Statement complies and at the time of delivery will comply with the requirements
of the Trust Indenture Act and the Securities Act, in each case, applicable to such Statement. The Trustee shall not be accountable
for the use or application by the Company of any Securities or the proceeds of any Securities authenticated and delivered by the
Trustee in conformity with the provisions of this Indenture.

 

Section 6.5. NOTICE OF DEFAULTS.
If a Default occurs and is continuing with respect to the Securities of any series and if it is known to a Responsible Officer
of the Trustee, the Trustee shall, within 90 days after it occurs, transmit, in the manner and to the extent provided in Section
313(c) of the Trust Indenture Act, notice of all uncured Defaults known to it; provided, however, that, except in the case of
a Default in payment on the Securities of any series, the Trustee may withhold the notice if and so long as a trust committee
of Responsible Officers in good faith determines that withholding such notice is in the interests of Holders of Securities of
that series; provided, further, that in the case of any default or breach of the character specified in Section 5.1(3) with respect
to the Securities of such series, no such notice to Holders shall be given until at least 90 days after the occurrence thereof.

 

Section 6.6. REPORTS BY TRUSTEE TO HOLDERS.
(a) Within 60 days after each May 15 of each year commencing with the first May 15 after the first issuance of Securities of any
series pursuant to this Indenture, the Trustee shall transmit by mail to all Holders of Securities of such series as provided
in Section 313(c) of the Trust Indenture Act a brief report dated as of such May 15 if required by and in compliance with Section
313(a) of the Trust Indenture Act. A copy of each report shall, at the time of such transmission to Holders, be filed by the Trustee
with each stock exchange, if any, upon which the Securities of any series are listed, with the Commission and with the Company.
The Company will promptly notify the Trustee when the Securities of any series are listed on any stock exchange and of any delisting
thereof.

 

(b) The Trustee shall from time to time transmit
by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture Act, such reports as are required to
be filed pursuant to Section 313(b) of the Trust Indenture Act.

 

Section 6.7. SECURITY HOLDER LISTS.
The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names
and addresses of Holders of Securities of each series. If the Trustee is not the Registrar, the Company shall furnish to the Trustee
semiannually on or before the last day of June and December in each year, and at such other times as the Trustee may request in
writing, a list, in such form and as of such date as the Trustee may reasonably require, containing all the information in the
possession or control of the Registrar, the Company or any of its Paying Agents other than the Trustee as to the names and addresses
of Holders of Securities of each such series.

 

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Section 6.8. COMPENSATION AND INDEMNITY.
The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, compensation as
agreed in writing between the Company and the Trustee for all services rendered by it hereunder in any capacity (which shall not
be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing
between the Trustee and the Company, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture
in any capacity thereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel
and of all Persons not regularly in its employ and including reasonable attorneys' fees in connection with enforcement of its
rights to indemnity herein) except any such expense, disbursement or advance as shall have been caused by its gross negligence,
willful misconduct or bad faith. The Company also covenants to indemnify the Trustee in any capacity under this Indenture and
any other document or transaction entered into in connection herewith and its agents and any authenticating agent for, and to
hold them harmless against, any loss, claim, damage, liability, fee, cost, loss, tax, claim, action or expense incurred without
gross negligence, willful misconduct or bad faith on the part of the Trustee, its officers, directors, agents or employees, or
such agent or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration
of this Indenture or in any other capacity hereunder, including third-party claims and claims involving the Company, and including
the costs and expenses of defending themselves against any claim of liability in the premises or enforcing this indemnity. The
obligations of the Company under this Section 6.8 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for
expenses, disbursements and advances shall be secured by a senior claim to which the Securities of the applicable series are hereby
made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 5.11, funds
held in trust herewith for the benefit of the Holders of particular Securities. The Trustee's right to receive payment of any
amounts due under this Section 6.8 shall not be subordinate to any other liability or indebtedness of the Company. The obligation
of the Company under this Section 6.8 shall survive the satisfaction and discharge of this Indenture and the earlier resignation
or removal of the Trustee. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably
withheld. The indemnification provided in this Section 6.8 shall extend to the officers, directors, agents and employees of the
Trustee.

 

Without prejudice to any other rights available
to the Trustee under applicable law, when the Trustee and its agents and any Authenticating Agent incur expenses or render services
after an Event of Default specified in Section 5.1(4) or Section 5.1(5) occurs, the expenses and the compensation for the services
are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

 

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Section 6.9. SEPARATE TRUSTEE; REPLACEMENT
OF TRUSTEE. (a) The Company may, but need not, appoint a separate Trustee for any one or more series
of Securities. The resignation or removal of the Trustee and the appointment of a successor Trustee shall become effective only
upon the successor Trustee’s acceptance of appointment as provided in Section 6.10. In the event of an appointment of a
separate Trustee for any one or more series of Securities, the allocation of responsibilities between the separate Trustees shall
be determined at that time.

 

(b) The Trustee may resign at any time with
respect to the Securities of any one or more series by giving written notice thereof to the Company. If the instrument of acceptance
by a successor Trustee required by Section 6.10 shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may (at the Company’s expense) petition any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of such series.

 

(c) The Holders of a majority in aggregate
principal amount of the Outstanding Securities of any series may remove the Trustee with respect to any one or more series by so
notifying the Trustee and the Company in writing and may appoint a successor Trustee for such series with the Company’s consent.

 

If an instrument of acceptance by a successor
Trustee required by Section 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of
removal, the Trustee being removed may petition any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

 

(d) If at any time:

 

(1) the Trustee fails to comply with Section
310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder who has been a bona fide Holder
of a Security for at least six months, or

 

(2) the Trustee shall cease to be eligible
under Section 6.11 hereof or Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor
by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months; or

 

(3) the Trustee becomes incapable of acting,
is adjudged a bankrupt or an insolvent or a receiver or public officer takes charge of the Trustee or its property or affairs for
the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company may remove the Trustee with
respect to all Securities, or (ii) subject to Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide Holder
of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to Securities of the series held by such Holder and the appointment of
a successor Trustee or Trustees.

 

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(e) If the Trustee resigns or is removed
or becomes incapable of acting or if a vacancy exists in the office of Trustee for any reason, with respect to Securities of one
or more series, the Company shall promptly appoint a successor Trustee with respect to the Securities of that or those series (it
being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such
series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall
comply with the applicable requirements of Section 6.10. If, within one year after such resignation, removal or incapability, or
the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable
requirements of Section 6.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede
the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.10, then, subject
to Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide Holder of a Security of such series for at least
six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment
of a successor Trustee with respect to the Securities of such series.

 

Section 6.10. ACCEPTANCE OF APPOINTMENT
BY SUCCESSOR. (a) In case of the appointment hereunder of a successor Trustee with respect to Securities
of any series, every such successor Trustee shall execute, acknowledge and deliver to the Company and to the retiring Trustee
an instrument accepting such appointment. Thereupon, the resignation or removal of the retiring Trustee shall become effective,
and the successor Trustee, without further act, deed or conveyance, shall become vested with all the rights, powers and duties
of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment
of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of
the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such
retiring Trustee hereunder.

 

(b) In case of the appointment hereunder
of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and
such successor Trustee shall execute and deliver an indenture supplemental hereto wherein such successor Trustee shall accept such
appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest
in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with
respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring
Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of
the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee and upon the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but,
on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor
Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates.

 

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(c) No successor Trustee shall accept its
appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under the Trust Indenture
Act.

 

(d) The Company shall give, or cause to be
given, notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment
of a successor Trustee with respect to the Securities of any series in the manner provided for notices to the Holders of Securities
in Section 1.6. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the
address of its Corporate Trust Office.

 

Section 6.11. ELIGIBILITY; DISQUALIFICATION.
There shall at all times be a Trustee hereunder with respect to each series of Securities (which need not be the same Trustee
for all series). Each Trustee hereunder shall be eligible to act as trustee under Section 310(a)(1) of the Trust Indenture Act
and shall have a combined capital and surplus of at least $100,000,000. If such corporation publishes reports of condition at
least annually, pursuant to law or the requirements of federal, state, territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall
cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the
effect hereinafter specified in this Article.

 

If the Trustee has or shall acquire a conflicting
interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent
and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.

 

Section 6.12. MERGER, CONVERSION, CONSOLIDATION
OR SUCCESSION TO BUSINESS. Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to or acquiring all or substantially all of the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible
under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto.
In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to, or by succession to or acquisition of all or substantially all of the corporate trust business
of, such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities.

 

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Section 6.13. APPOINTMENT OF AUTHENTICATING
AGENT. The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series
of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon
original issue exchange, registration of transfer or partial redemption thereof, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.
Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of
which instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed
to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and,
except as may otherwise be provided pursuant to Section 3.1, shall at all times be a bank or trust company or corporation organized
and doing business and in good standing under the laws of the United States of America or of any State or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $1,500,000 and
subject to supervision or examination by Federal or State authorities. If such Authenticating Agent publishes reports of condition
at least annually, pursuant to law or the requirements of the aforesaid supervising or examining authority, then for the purposes
of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. In case at any time an Authenticating Agent shall cease
to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner
and with the effect specified in this Section.

 

Any corporation into which an Authenticating
Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to or acquiring the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation
shall be otherwise eligible under this Section, without the execution or filing of any paper or further act on the part of the
Trustee or the Authenticating Agent.

 

An Authenticating Agent for any series of
Securities may at any time resign by giving written notice of resignation to the Trustee for such series and to the Company. The
Trustee for any series of Securities may at any time terminate the agency of an Authenticating Agent by giving written notice of
termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination,
or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section,
the Trustee for such series may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give
notice of such appointment to all Holders of Securities of the series with respect to which such Authenticating Agent will serve
in the manner set forth in Section 1.6. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating
Agent herein. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

 

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The Company agrees to pay to each Authenticating
Agent from time to time such reasonable compensation as the Company and such Authenticating Agent agree in writing from time to
time including reimbursement of its reasonable expenses for its services under this Section.

 

If an appointment with respect to one or
more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to or in lieu
of the Trustee’s certificate of authentication, an alternate certificate of authentication substantially in the following
form:

 

This is one of the [Securities] [of the series
designated herein and] referred to in the within-mentioned Indenture.

 

	 	[________], as Trustee
	 	 	 
	 	By 	 
	 	 	as Authenticating Agent
	 	By 	 
	 	 	Authorized Signatory

 

Article
VII

 

CONSOLIDATION,
MERGER OR SALE BY THE COMPANY 

 

Section 7.1. CONSOLIDATION, MERGER OR SALE
OF ASSETS. The Company may not merge or consolidate with or into any other Person, in a transaction
in which it is not the surviving corporation, or sell, convey, transfer or otherwise dispose of all or substantially all of its
assets to any Person, unless (i) surviving or transferee Person is organized and existing under the laws of the United States
or a State thereof and such Person expressly assumes by supplemental indenture all the obligations of the Company under each series
of Securities and under this Indenture, (ii) immediately thereafter, giving effect to such merger or consolidation, or such sale,
conveyance, transfer or other disposition, no Default or Event of Default shall have occurred and be continuing and (iii) the
Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that such merger,
consolidation, sale, conveyance, transfer or other disposition complies with this Article and that all conditions precedent herein
provided for relating to such transaction have been complied with. In the event of the assumption by a successor Person of the
obligations of the Company, such successor Person shall succeed to and be substituted for the Company hereunder and under each
series of Securities and all such obligations of the Company shall terminate.

 

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Article
VIII

 

SUPPLEMENTAL
INDENTURES 

 

Section 8.1. SUPPLEMENTAL INDENTURES
WITHOUT CONSENT OF HOLDERS. Without the consent of any Holders, the Company and the Trustee,
at any time and from time to time, may enter into indentures supplemental hereto for any of the following
purposes:

 

(1) to evidence the succession of another
Person to the Company and the assumption by any such successor of the covenants and obligations of the Company herein and in Securities
(with such changes herein and therein as may be necessary or advisable to reflect such Person’s legal status, if such Person
is not a corporation); or

 

(2) to add to the covenants of the Company
for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than
all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to
surrender any right or power herein conferred upon the Company or to comply with any requirement of the Commission or otherwise
in connection with the qualification of this Indenture under the Trust Indenture Act or otherwise; or

 

(3) to add any additional Events of Default
with respect to all or any series of Securities; or

 

(4) to add to or change any of the provisions
of this Indenture to such extent as shall be necessary to facilitate or provide for the issuance of Securities in global form in
addition to or in place of Securities in certificated form; or

 

(5) to change or eliminate any of the provisions
of this Indenture, provided that any such change or elimination shall become effective only with respect to Securities which have
not been issued as of the execution of such supplemental indenture or when there is no Security Outstanding of any series created
prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; or

 

(6) to add guarantees with respect to all
or any series of Securities; or

 

(7) to convey, transfer, assign, mortgage
or pledge any property to or with the Trustee; or

 

(8) to supplement any of the provisions of
this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Sections 4.1, 4.4, and 4.5; provided that any such action shall not adversely affect the interests of the Holders of
Securities of such series or any other series of Securities in any material respect; or

 

(9) to establish the form or terms of Securities
of any series as permitted by Sections 2.1 and 3.1; or

 

(10) to provide for the delivery of indentures
supplemental hereto or the Securities of any series in or by means of any computerized, electronic or other medium, including without
limitation by computer diskette; or

 

(11) to evidence and provide for the acceptance
of appointment hereunder by a successor or separate Trustee with respect to the Securities of one or more series and/or to add
to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, pursuant to the requirements of Article VI; or

 

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(12) to correct or supplement any provision
herein which may be inconsistent with any other provision herein or to cure any ambiguity or omission or to correct any mistake;
or

 

(13) to make any other provisions with respect
to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders
of Securities of any series in any material respect.

 

Section 8.2. WITH CONSENT OF HOLDERS.
Without prior notice to any Holder but with the written consent of the Holders of a majority of the aggregate principal
amount of the Outstanding Securities of each series adversely affected by such supplemental indenture (with the Securities of
each series voting as a class), the Company and the Trustee may enter into an indenture or indentures supplemental hereto to
add any provisions to or to change or eliminate any provisions of this Indenture or of any other indenture supplemental
hereto or to modify the rights of the Holders of Securities of each such series; provided, however, that without the consent
of the Holder of each Outstanding Security of such series adversely affected thereby, a supplemental indenture under this
Section may not:

 

(1) change the Stated Maturity of the principal
of, or any installment of principal of or interest on, any Security of such series, or reduce the principal amount thereof or the
rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original
Issue Discount Security or Indexed Security that would be due and payable upon a declaration of acceleration of the Maturity thereof
pursuant to Section 5.2, or change any Place of Payment where, or the coin or currency in which any Securities of such series or
any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on
or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date);

 

(2) reduce the percentage in principal amount
of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the
consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults
hereunder and their consequences provided for in this Indenture;

 

(3) except to the extent provided in Section
8.1(11), make any change in Section 5.7 or this 8.2 except to increase any percentage or to provide that certain other provisions
of this Indenture cannot be modified or waived except with the consent of the Holders of each Outstanding Security of such series
affected thereby, provided, however, that this clause shall not be deemed to require the consent of any Holders with respect to
changes in the references to the “Trustee” and concomitant changes in this Section, in accordance with the requirements
of Sections 6.10(b) and 8.1(11); or

 

(4) modify the ranking or priority of the
Securities of such series.

 

For the purposes of this Section 8.2, if
the Securities of any series are issuable upon the exercise of warrants, any holder of an unexercised and unexpired warrant with
respect to such series shall not be deemed to be a Holder of Outstanding Securities of such series in the amount issuable upon
the exercise of such warrants.

 

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A supplemental indenture which changes or
eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or
more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to
such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of
any other series.

 

It is not necessary under this Section 8.2
for the Holders to consent to the particular form of any proposed supplemental indenture, but it is sufficient if they consent
to the substance thereof.

 

Section 8.3. COMPLIANCE WITH TRUST INDENTURE
ACT. Every amendment to this Indenture or the Securities of one or more series shall be set forth
in a supplemental indenture that complies with the Trust Indenture Act as then in effect.

 

Section 8.4. EXECUTION OF SUPPLEMENTAL INDENTURES.
In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modification
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying
upon an Officer’s Certificate and Opinion of Counsel stating that all conditions precedent to the execution of such supplemental
indenture have been satisfied and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture and that such supplemental indenture is the legal, valid and binding obligation of the Company.
The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which adversely affects the Trustee.
The Trustee shall enter into any such supplemental indenture presented to it by the Company in compliance with this Article VIII
if such supplemental indenture does not adversely affect the Trustee, as determined in its sole discretion. In formulating its
opinion on such matters the Trustee shall be entitled to rely on such evidence as it deems appropriate, which may be or include,
without limitation, reliance solely on an opinion or advice of its counsel.

 

Section 8.5. EFFECT OF SUPPLEMENTAL INDENTURES.
Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith,
and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities of the applicable
series theretofore or thereafter authenticated and delivered hereunder and shall be bound thereby; provided that if such supplemental
indenture makes any of the changes described in clauses (1) through (4) of the first proviso to Section 8.2, such supplemental
indenture shall bind each Holder of a Security of the applicable series who has consented to it and every subsequent Holder of
such Security or any part thereof.

 

Section 8.6. REFERENCE IN SECURITIES TO
SUPPLEMENTAL INDENTURES. Securities of any series authenticated and delivered after the execution
of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved
by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities
of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

 

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Article
IX

 

COVENANTS

 

Section 9.1. PAYMENT OF PRINCIPAL, PREMIUM,
IF ANY, AND INTEREST. The Company covenants and agrees for the benefit of the Holders of each series
of Securities that it will duly and punctually pay the principal of, premium, if any, and interest on the Securities of that series
in accordance with the terms of the Securities of such series, and this Indenture. An installment of principal, premium, if any,
or interest shall be considered paid on the date it is due if the Trustee or Paying Agent holds on that date money designated
for and sufficient to pay the installment.

 

Section 9.2. MAINTENANCE OF OFFICE OR AGENCY.
If Securities of a series are issued as Registered Securities, the Company will maintain in each Place of Payment for any series
of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities
of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company
in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of any such office or agency. If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee as its agent to receive all such presentations, surrenders, notices and demands (provided, however, that the foregoing
appointment shall not impose or imply any obligation on the part of the Trustee to maintain any office for any such purposes other
than the Corporate Trust Office.)

 

Subject to the preceding paragraphs, the
Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may
be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency
in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any such other office or agency.

 

Unless otherwise specified as contemplated
by Section 3.1, the Trustee shall initially serve as Paying Agent. The Paying Agent may make reasonable rules not inconsistent
herewith for the performance of its functions.

 

Section 9.3. MONEY FOR SECURITIES TO BE
HELD IN TRUST; UNCLAIMED MONEY. If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the principal of, premium, if any, or interest on
any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient
to pay the principal, premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee in writing of any failure so to act.

 

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Whenever the Company shall have one or more
Paying Agents for any series of Securities, it will, on or prior to each due date of the principal of or any premium or interest
on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided
by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of any failure
so to act.

 

If the Company is not acting as its own Paying
Agent, the Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that
such Paying Agent will:

 

(1) hold all sums held by it for the payment
of the principal of, premium, if any, or interest on Securities of that series in trust for the benefit of the Persons entitled
thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided;

 

(2) give the Trustee notice of any Default
by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal, premium, if
any, or interest on the Securities of that series; and

 

(3) at any time during the continuance of
any such Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.

 

Notwithstanding anything in this Section
9.3 to the contrary, the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture,
or with respect to one or more series of Securities, or for any other purpose, pay, or by Company Order direct any Paying Agent
to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the
same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent
to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 

Subject to applicable abandoned property
laws, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of any principal,
premium or interest or other amounts on any Security of any series and remaining unclaimed for two years after such principal,
premium, if any, or interest or other amounts has become due and payable shall be paid to the Company (including interest income
on such funds, if any), or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security,
shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 9.4. CORPORATE EXISTENCE.
Subject to Article VII, the Company will at all times do or cause to be done all things necessary to preserve and keep in full
force and effect its corporate existence.

 

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Section 9.5. REPORTS BY THE COMPANY.
The Company covenants, at any time at which there are Outstanding Securities of any series issued under this Indenture:

 

(a) to file with the Trustee, within 30 days
after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents
and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations
prescribe) which the Company may be required to file with the Commission pursuant to section 13 or section 15(d) of the Securities
Exchange Act of 1934, as amended; or, if the Company is not required to file information, documents or reports pursuant to either
of such sections, then to file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time
to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant
to section 13 of the Securities Exchange Act of 1934, as amended, in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and regulations;

 

(b) to file with the Trustee and the Commission,
in accordance with the rules and regulations prescribed from time to time by the Commission, such additional information, documents
and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture, as may
be required from time to time by such rules and regulations; and

 

(c) to transmit to all Holders of Securities
within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in section 313(c) of the Trust
Indenture Act, such summaries of any information, documents and reports required to be filed by the Company pursuant to subsections
(a) and (b) of this Section 9.5, as may be required by rules and regulations prescribed from time to time by the Commission.

 

Section 9.6. ANNUAL REVIEW CERTIFICATE.
At any time at which there are Outstanding Securities of any series issued under this Indenture, the Company covenants and agrees
to deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, a brief certificate from the principal
executive officer, principal financial officer, or principal accounting officer as to his or her knowledge of whether the Company
is in Default under this Indenture. For purposes of this Section 9.6, such compliance shall be determined without regard to any
period of grace or requirement of notice provided under this Indenture.

 

Article
X

 

REDEMPTION

 

Section 10.1. APPLICABILITY OF ARTICLE.
Securities of or within any series which are redeemable in whole or in part before their Stated Maturity shall be redeemable in
accordance with their terms and (except as otherwise specified in the applicable Board Resolution or supplemental indenture with
respect to such series of Securities, as contemplated by Section 3.1 for Securities of any series) in accordance with this Article.

 

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Section 10.2. ELECTION TO REDEEM; NOTICE
TO TRUSTEE. The election of the Company to redeem any Securities shall be evidenced by a Board Resolution.
In the case of any redemption at the election of the Company of less than all the Securities of any series of the same tenor,
the Company shall, at least 60 days (45 days in the case of redemption of all Securities of any series or of any series with the
same (i) Stated Maturity, (ii) period or periods within which, price or prices at which and terms and conditions upon which such
Securities may or shall be redeemed or purchased, in whole or in part, at the option of the Company or pursuant to any sinking
fund or analogous provision or repayable at the option of the Holder and (iii) rate or rates at which such Securities bear interest,
if any, or formula pursuant to which such rate or rates accrue (collectively, the “Equivalent Principal Terms”)) prior
to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee
of such Redemption Date of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of
such Securities to be redeemed. In the case of any redemption of Securities of a series (i) prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (ii) pursuant to an election of
the Company which is subject to a condition specified in the terms of such Securities, the Company shall furnish the Trustee with
an Officer’s Certificate evidencing compliance with such restriction or condition.

 

Section 10.3. SELECTION OF SECURITIES TO
BE REDEEMED. If less than all the Securities with Equivalent Principal Terms of any series are to
be redeemed (unless all of the Securities of such series and of a specified tenor are to be redeemed), the particular Securities
to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities
of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may
provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series
with Equivalent Principal Terms or any integral multiple thereof) of the principal amount of Securities of such series with Equivalent
Principal Terms of a denomination larger than the minimum authorized denomination for Securities of that series. Unless otherwise
provided in the terms of a particular series of Securities, the portions of the principal of Securities so selected for partial
redemption shall be equal to the minimum authorized denomination of the Securities of such series, or an integral multiple thereof,
and the principal amount which remains outstanding shall not be less than the minimum authorized denomination for Securities of
such series.

 

The Trustee shall promptly notify the Company
in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal
amount thereof to be redeemed. If the Securities of a series having different issue dates, interest rates and maturities (whether
or not originally issued in a Periodic Offering) are to be redeemed, the Company in its discretion may select the particular Securities
or portions thereof to be redeemed and shall notify the Trustee thereof by such time prior to the relevant redemption date or dates
as the Company and the Trustee may agree.

 

For purposes of this Indenture, unless the
context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.

 

Section 10.4. NOTICE OF REDEMPTION.
Unless otherwise specified as contemplated by Section 3.1, notice of redemption shall be given by first-class mail, postage prepaid,
mailed not less than 30 days nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in the Securities
to be redeemed, to each Holder of the Securities to be redeemed.

 

    60

     

    

 

All notices of redemption shall state:

 

(1) the Redemption Date;

 

(2) the Redemption Price and the amount of
accrued interest, if any, to be paid;

 

(3) if less than all the Outstanding Securities
of a series are to be redeemed, the identification (and, in the case of partial redemption of any Securities, the principal amounts)
of the particular Security or Securities to be redeemed;

 

(4) in case any Security is to be redeemed
in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the Holder of such Security will receive, without a charge, a new Security or Securities of authorized denominations
for the principal amount thereof remaining unredeemed;

 

(5) the Place or Places of Payment where
such Securities are to be surrendered for payment for the Redemption Price;

 

(6) that Securities of the series called
for redemption appertaining thereto must be surrendered to the Paying Agent to collect the Redemption Price;

 

(7) that, on the Redemption Date, the Redemption
Price will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest
thereon will cease to accrue on and after said date;

 

(8) that the redemption is for a sinking
fund, if such is the case;

 

(9) the CUSIP number and/or ISIN, if any,
of such Securities.

 

Notice of redemption of Securities to be
redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the
name and at the expense of the Company (provided that the Company prepare and provide to the Trustee the form of such notice, or,
if acceptable to the Trustee, provides sufficient information to enable the Trustee to prepare such notice, in each case on a timely
basis.)

 

Section 10.5. DEPOSIT OF REDEMPTION PRICE.
On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting
as its own Paying Agent, segregate and hold in trust as provided in Section 9.3) an amount of money in the currency or currencies
(including currency units or composite currencies) in which the Securities of such series are payable (except as otherwise specified
pursuant to Section 3.1 for the Securities of such series) sufficient to pay on the Redemption Date the Redemption Price of, and
(unless the Redemption Date shall be an Interest Payment Date) interest accrued to the Redemption Date on, all Securities or portions
thereof which are to be redeemed on that date.

 

    61

     

    

 

Unless any Security by its terms prohibits
any sinking fund payment obligation from being satisfied by delivering and crediting Securities (including Securities redeemed
otherwise than through a sinking fund), the Company may deliver such Securities to the Trustee for crediting against such payment
obligation in accordance with the terms of such Securities and this Indenture.

 

Section 10.6. SECURITIES PAYABLE ON REDEMPTION
DATE. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless
the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest
and such Securities shall cease from and after the Redemption Date to be entitled to any benefit or security under this Indenture,
and the Holders thereof shall have no right in respect of such Securities except the right to receive the Redemption Price thereof
and unpaid interest to the Redemption Date. Except as provided in the next succeeding paragraph, upon surrender of any such Security
for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with
accrued interest, if any, to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section
3.1, installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable
to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 3.7.

 

If any Security called for redemption shall
not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from
the Redemption Date at the rate prescribed therefor in such Security.

 

Section 10.7. SECURITIES REDEEMED IN PART.
Upon surrender of a Security that is redeemed only in part at any Place of Payment therefor (with, if the Company or the Trustee
so require, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by, the Holder thereof or his attorney duly authorized in writing), the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of that Security, without service charge, a new Security or Securities of the same series, having the
same form, terms and Stated Maturity, in any authorized denomination equal in aggregate principal amount to the unredeemed portion
of the principal amount of the Security surrendered.

 

Article
XI

 

SINKING
FUNDS 

 

Section 11.1. APPLICABILITY OF ARTICLE.
The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as
otherwise specified as contemplated by Section 3.1 for Securities of such series.

 

The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,”
and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of Securities of such series.

 

    62

     

    

 

Section 11.2. SATISFACTION OF SINKING FUND
PAYMENTS WITH SECURITIES. The Company (i) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (ii) may apply as a credit Securities of a series which have been redeemed either
at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking
fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment
with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by
the terms of such series; provided that such Securities have not been previously so credited. Such Securities shall be received
and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation
of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 11.3. REDEMPTION OF SECURITIES FOR
SINKING FUND. Not less than 60 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment
of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant
to Section 11.2 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such
sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 10.3 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company
in the manner provided in Section 10.4. Such notice having been duly given, the redemption of such Securities shall be made upon
the terms and in the manner stated in Sections 10.6 and 10.7.

 

This Indenture may be executed in any number
of counterparts, each of which shall be an original, but such counterparts shall together constitute but one instrument.

 

    63

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Indenture to be duly executed as of the day and year first above written.

 

	 	AKOUSTIS TECHNOLOGIES, inc.
	 	 	 
	 	By:	                                        
	 	Name:	 
	 	Title:	 
	 	 	 
	 	[____________________], as Trustee
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature page to Indenture]

 

 

64Exhibit 10.1

    

    
      

      

      
        The Retirement Plan Of

        Dime Community Bank

        In

        Pentegra Retirement Trust

        

        

        (As Amended and Restated Effective as of October 1, 2019)

      

       

        	117 

              	October 1, 2019

      

      
        
          

      

      
      
         

      

      
        	
                
                  TABLE OF CONTENTS 

                

              

        

      

      TABLE OF CONTENTS

       

      	
              TABLE OF CONTENTS

            	
              i

            
	 	 
	
              Article I ‐  Definitions

            	
              1

            
	 	 
	
              Article II ‐  Plan History

            	
              11

            
	 	 
	
              Article III ‐  Administration

            	
              14

            
	 	 
	 	
              3.1

            	
              General Administration of the Plan

            	
              14

            
	 	
              3.2

            	
              Designation of Fiduciaries

            	
              14

            
	 	
              3.3

            	
              Responsibilities of Fiduciaries

            	
              14

            
	 	
              3.4

            	
              Plan Administrator

            	
              15

            
	 	
              3.5

            	
              Employee Benefits Committee

            	
              15

            
	 	
              3.6

            	
              Powers and Duties of the Employee Benefits Committee

            	
              16

            
	 	
              3.7

            	
              Powers and Duties of the Investment Fiduciaries

            	
              17

            
	 	
              3.8

            	
              Authorization of Benefit Payments

            	
              17

            
	 	
              3.9

            	
              Payment of Benefits to Legal Custodian

            	
              17

            
	 	
              3.10

            	
              Service in More Than One Fiduciary Capacity

            	
              17

            
	 	
              3.11

            	
              Payment of Expenses

            	
              17

            
	 	 	 	 
	
              Article IV ‐  Plan Contributions

            	
              18

            
	 	 
	 	
              4.1

            	
              Administration

            	
              18

            
	 	
              4.2

            	
              Employer Contributions

            	
              18

            
	 	
              4.3

            	
              Participant Contributions

            	
              18

            
	 	
              4.4

            	
              Exclusive Benefit; Refund of Employer Contributions

            	
              18

            
	 	
              4.5

            	
              Funding-Based Limits on Benefits and Benefit Accruals

            	
              19

            
	 	 	 	 
	
              Article V ‐  Eligibility Requirements

            	
              28

            
	 	 
	 	
              5.1

            	
              Participation

            	
              28

            
	 	
              5.2

            	
              Break in Service

            	
              28

            
	 	
              5.3

            	
              Ineligible Employees

            	
              29

            
	 	
              5.4

            	
              Enrollment

            	
              29

            
	 	
              5.5

            	
              Reemployed Employee

            	
              30

              

            
	 	 	 	 
	
              Article VI ‐  Vested and Credited Service

            	
              31

            
	 	 
	 	
              6.1

            	
              Vested Service

            	
              31

            
	 	
              6.2

            	
              Credited Service

            	
              33

            
	 	 	 	 
	
              Article VII ‐  Benefits

            	
              35

            
	 	 
	 	
              7.1

            	
              General

            	
              35

            
	 	
              7.2

            	
              Normal Retirement Benefit

            	
              35

            
	 	
              7.3

            	
              Postponed Retirement Benefit

            	
              36

            
	 	
              7.4

            	
              Early Retirement Benefit

            	
              37

            
	 	
              7.5

            	
              Vested Retirement Benefit

            	
              39

            
	 	
              7.6

            	
              Disability Coordination Benefit

            	
              40

            
	 	
              7.7

            	
              Death Benefits

            	
              42

            
	 	 	 	 
	
              Article VIII ‐  Limitations and Restrictions on Benefits

            	
              46

            
	 	 
	 	
              8.1

            	
              Section 415 Limitations on Benefits

            	
              46

            
	 	
              8.2

            	
              Restrictions on Twenty‐five Highest Paid

            	
              68

            

      

      

       

       

       

      
         

      

      
        
          	
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              Article IX ‐  Payment of Benefits

            	
              70

            
	 	 
	 	
              9.1

            	
              Application and Consent

            	
              70

            
	 	
              9.2

            	
              Standard Form of Benefit Payments

            	
              71

            
	 	
              9.3

            	
              Notice Requirements

            	
              71

            
	 	
              9.4

            	
              Notice Requirements - Preretirement Survivor Annuity

            	
              71

            
	 	
              9.5

            	
              Election to Waive Preretirement Survivor Annuity

            	
              72

            
	 	
              9.6

            	
              Election of Optional Forms of Benefit Payments

            	
              72

            
	 	
              9.7

            	
              Optional Forms of Benefit Payments

            	
              74

            
	 	
              9.8

            	
              Cash Out of Certain Benefits

            	
              77

            
	 	
              9.9

            	
              Direct Rollover of Eligible Rollover Distributions

            	
              79

            
	 	
              9.10

            	
              Commencement of Benefits

            	
              80

            
	 	
              9.11

            	
              Minimum Distribution Requirements

            	
              81

            
	 	
              9.12

            	
              Latest Commencement Date of Plan Benefits

            	
              89

            
	 	
              9.13

            	
              Suspension of Benefits

            	
              89

            
	 	
              9.14

            	
              In-Service Distributions

            	
              92

            
	 	 	 	 
	
              Article X -  Withdrawal of Plan from the Trust

            	
              93

            
	 	 
	 	
              10.1

            	
              Withdrawals‐Generally

            	
              93

            
	 	
              10.2

            	
              Withdrawal Procedures

            	
              93

            
	 	
              10.3

            	
              Transfer of Plan Interest

            	
              93

            
	 	 	 	 
	
              Article XI ‐  Termination of Plan

            	
              94

            
	 	 
	 	
              11.1

            	
              Right to Terminate Plan

            	
              94

            
	 	
              11.2

            	
              Termination Procedures

            	
              94

            
	 	
              11.3

            	
              Distribution on Termination

            	
              94

            
	 	 	 	 
	
              Article XII ‐  Claims Procedures

            	
              96

            
	 	 
	 	
              12.1

            	
              Definition

            	
              96

            
	 	
              12.2

            	
              Claims

            	
              96

            
	 	
              12.3

            	
              Disposition of Claim

            	
              96

            
	 	
              12.4

            	
              Denial of Claim

            	
              96

            
	 	
              12.5

            	
              Right to Full and Fair Review

            	
              96

            
	 	
              12.6

            	
              Time of Review

            	
              97

            
	 	
              12.7

            	
              Final Decision

            	
              97

            
	 	
              12.8

            	
              Use of Electronic Medium

            	
              97

            
	 	 	 	 
	
              Article XIII ‐  Top‐Heavy Plan Provisions

            	
              98

            
	 	 
	 	
              13.1

            	
              Introduction

            	
              98

            
	 	
              13.2

            	
              Definitions

            	
              98

            
	 	
              13.3

            	
              Vesting

            	
              101

            
	 	
              13.4

            	
              Minimum Benefit

            	
              102

            
	 	 	 	 
	
              Article XIV ‐  Miscellaneous

            	
              103

            
	 	 
	 	
              14.1

            	
              Amendments

            	
              103

            
	 	
              14.2

            	
              Nonalienation of Benefits

            	
              104

            
	 	
              14.3

            	
              No Guarantee of Employment

            	
              105

            
	 	
              14.4

            	
              Preservation of Benefits

            	
              105

            
	 	
              14.5

            	
              Right to Trust Assets

            	
              106

            
	 	
              14.6

            	
              Successor Employer

            	
              106

            

       

      

      

      
        
          	
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              14.7

            	
              Documentary Evidence

            	
              106

            
	 	
              14.8

            	
              Forfeitures

            	
              106

            
	 	
              14.9

            	
              Missing Payee

            	
              106

            
	 	
              14.10

            	
              Plan Merger, Consolidation, or Transfer

            	
              107

            
	 	
              14.11

            	
              Retention of Vested Rights under the Prior Plan

            	
              107

            
	 	
              14.12

            	
              Affiliated Employers

            	
              107

            
	 	
              14.13

            	
              Benefits under an Insurance Contract

            	
              107

            
	 	
              14.14

            	
              Adoption of Plan by Affiliated Employer

            	
              108

            
	 	
              14.15

            	
              Omissions or Incorrect Inclusions

            	
              108

            
	 	
              14.16

            	
              Gender and Number

            	
              108

            
	 	
              14.17

            	
              Headings

            	
              108

            
	 	
              14.18

            	
              Governing Law

            	
              108

            
	 	
              14.19

            	
              HEART Act

            	
              109

            
	 	
              14.20

            	
              USERRA

            	
              109

            
	 	 	 	 
	
              APPENDIX A

            	
              110

            

      

      

      
        
          	
                  117

                	
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                Article I -

                Definitions

              

      

       

      

      ARTICLE I ‐

        DEFINITIONS

       

      The following words and phrases shall have the meanings hereafter ascribed to them.  Those words and phrases which have limited application are defined in the respective Articles in which such terms appear.

       

      	1.1	
              "Accrued Benefit" shall mean the benefit attributable to Employer contributions determined as of a date specified by the Employer and applying the benefit formula set forth in Section 7.2.

            

       

      	1.2	
              "Acquired Company" means any of the following companies which is acquired by, or merged or consolidated with, the Bank or its holding company:

            

       

      	

            	(a)	
              Pioneer Savings Bank, F.S.B.

            

       

      	

            	(b)	
              Conestoga Bancorp, Inc.

            

       

      	1.3	
              "Actuarial Equivalent" shall mean a benefit of equivalent actuarial value determined in accordance with the tables set forth in Appendix A.

            

       

      	1.4	
              "Affiliated Employer" shall mean a member of an affiliated service group (as defined under Section 414(m) of the Code), a controlled group of corporations (as defined under Section 414(b) of the Code), or a group of trades or businesses
                under common control (as defined under Section 414(c) of the Code) of which the Employer is a member, any leasing organization (as defined under Section 414(n) of the Code) providing the services of Leased Employees to the Employer, or any
                other entity required to be aggregated with the Employer pursuant to regulations promulgated by the Secretary of the Treasury under Section 414(o) of the Code.

            

       

      	1.5	
              "Affiliated Service" shall mean employment with an employer during the period that such employer is an Affiliated Employer.

            

       

      	1.6	
              "Agreement" shall mean the RSI Retirement Trust Agreement and Declaration of Trust as amended and restated August 1, 1990, as amended from time to time.  Effective December 12, 2013, RSI Retirement Trust changed its name to Pentegra
                Retirement Trust.  Such Agreement shall be incorporated herein and constitute a part of the Plan.

            

       

      	1.7	
              "Average Annual Earnings" shall mean the Participant's average annual Compensation during the thirty‐six (36) consecutive calendar months within the final one hundred‐twenty (120) consecutive calendar months of the Participant's Credited
                Service affording the highest such average.  In the event the Participant has less than thirty‐six (36) months of Credited Service, his total Credited Service and Compensation shall be used to compute such average.

            

       

      In determining Average Annual Earnings, Credited Service before and after a One Year Period of Severance, Military Leave, or other leave of absence for which no Compensation is
        received by the Participant shall be deemed to be consecutive.

       

      Average Annual Earnings shall not include any Compensation received by a Participant after the Plan Freeze Date.

       

       

      
        
          	
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                  Article I -

                  Definitions

                

        

      

       

      	1.8	
              "Beneficiary" shall mean any person who is receiving or eligible to receive a benefit under the Plan upon the death of a Participant or Retired Participant.

            

       

      	1.9	
              "Code" shall mean the Internal Revenue Code of 1986, as amended from time to time.

            

       

      	1.10	
              "Compensation" shall mean the remuneration received from the Employer by or on behalf of the Participant, including any contributions through a salary reduction arrangement to a cash or deferred plan under Section 401(k) of the Code and
                contributions which are not includable in the gross income of an Employee under a "cafeteria plan" described in Section 125 of the Code or elective amounts that are not includable in the gross income of an Employee by reason of Section
                132(f)(4) of the Code, but excluding overtime payments, bonuses, other deferred compensation arrangements or other special payments. In the event a Participant becomes disabled, and is eligible to receive benefits under the Employer's
                long-term disability program, it shall be deemed that the rate of Compensation in effect immediately prior to his disability continued unchanged throughout the period of his disability.  Compensation shall include statutory disability
                payments to a Participant and supplemental disability income provided by the Employer if the inclusion of such income shall result in a greater benefit to the Participant.  A determination whether to include such income as Compensation
                shall be applied on a uniform, nondiscriminatory basis.

            

       

      Effective for Plan Years commencing after December 31, 2008, Compensation shall include “differential wage payments.”  Differential wage payments means any payment which: is made
        by the Employer to an Employee with respect to any period during which the Employee is performing service in the uniformed services of the United States while on active duty for a period of more than thirty (30) days, and represents all or a
        portion of the wages the Employee would have received if such Employee were performing service for the Employer.  This paragraph shall only apply if all Employees receive differential wage payments on a reasonably equivalent basis, are eligible to
        participate in the Plan, and may make payments on reasonably equivalent terms.

       

      The amount of Compensation taken into account for a Plan Year consisting of twelve (12) months shall not exceed two hundred eighty thousand dollars ($280,000) for the 2019 Plan Year, thereafter
        adjusted in multiples of five thousand dollars ($5,000) for increases in the cost-of-living as prescribed by the Secretary of the Treasury under Section 401(a)(17)(B) of the Code.  Any cost-of-living increases described in this paragraph shall be
        applicable solely with respect to the amount of Compensation taken into account under the Plan during the twelve (12) month period or periods to which such increase applies.  For purposes of this Section 1.10, if the Plan Year in which a
        Participant's Compensation is paid is less than twelve (12) calendar months, the amount of Compensation taken into account for such Plan Year shall be the applicable limit hereunder for such Plan Year multiplied by a fraction, the numerator of
        which is the number of months taken into account for such Plan Year and the denominator of which is twelve (12).

       

      In determining the dollar limitation hereunder, compensation received from any Affiliated Employer shall be recognized as Compensation.

       

      
        
          	
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                  Article I -

                  Definitions

                

        

      

       

      In no event shall an Employee who was a Participant under the Plan as in effect on September 30, 1994 and whose Accrued Benefit on or after October 1, 1994 is based on
        Compensation in excess of one hundred fifty thousand dollars ($150,000) during a Plan Year prior to October 1, 1994, receive a Retirement Benefit under the Plan which is less than the greater of:  (i) the Participant's Accrued Benefit as determined
        pursuant to the provisions of the Plan for Plan Years on or after October 1, 1994, based on all of the Participant's Credited Service, or (ii) the sum of:  (A) the Retirement Benefit that would have been payable assuming the Plan provisions
        immediately preceding October 1, 1994 had remained in effect until the Participant's Termination of Service with the Participant having terminated service on September 30, 1994, and (B) the Participant's Accrued Benefit as determined pursuant to
        the provisions of the Plan for Plan Years on or after October 1, 1994, based on the Participant's Credited Service commencing on October 1, 1994.

       

      If a Participant was employed by an Acquired Company on June 26, 1996 and became employed by the Employer on June 26, 1996, his compensation with such Acquired Company shall be
        deemed to be compensation with the Employer for purposes of determining his Average Annual Earnings; provided, however, that compensation shall not be deemed to include amounts received in connection with or as a result of the transaction by which
        it became an Acquired Company.  Compensation of an Employee of an Acquired Company shall not include amounts received in connection with or as a result of the transaction by which it became an Acquired Company.  If a Participant was employed by
        Financial Federal on January 20, 1999 and became employed by the Employer on January 21, 1999, his compensation with Financial Federal shall be deemed to be compensation with the Employer for purposes of determining his Average Annual Earnings.

       

      	1.11	
              "Credited Service" shall mean a Participant's service determined in accordance with Section 6.2 which is used to calculate benefits.

            

       

      	1.12	
              "Disability Coordination Benefit" shall mean a benefit coordinated with the Employer’s long-term disability program as set forth in Section 7.6.

            

       

      	1.13	
              "Early Retirement Benefit" shall mean the benefit determined in accordance with Section 7.4.

            

       

      	1.14	
              "Eligibility Computation Period" shall mean a consecutive twelve (12) month period commencing with the date an Employee first completes an Hour of Service and any subsequent anniversary date thereof.  For any Employee who was an employee
                of an Acquired Company on June 26, 1996 and became employed by the Employer on June 26, 1996, employment with such Acquired Company shall be deemed employment with the Employer for purposes of determining such Employee’s Eligibility
                Computation Period.

            

       

      For any Employee who was an employee of Financial Federal on January 20, 1999 and became employed by the Employer on January 21, 1999, employment with Financial Federal shall be
        deemed employment with the Employer for purposes of determining such Employee’s Eligibility Computation Period.

       

      	1.15	
              "Employee" shall mean any person who is compensated for an Hour of Service with the Employer.

            

       

      	1.16	
              "Employee Benefits Committee" shall mean the person or persons appointed by the Employer in accordance with Section 3.2(b).

            

       

      	1.17	
              "Employer" shall mean Dime Community Bank or any eligible successor organization which shall continue to maintain the Plan pursuant to Section 14.6 as set forth herein, as well as any Participating Affiliate.

            

       

      
        
          	
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                  Definitions

                

        

      

       

      	1.18	
              "Employer Resolutions" shall mean resolutions adopted by the board of trustees, directors or other governing body of the Employer.

            

       

      	1.19	
              "Enrolled Actuary" shall mean a person who has been approved by the Joint Board for the Enrollment of Actuaries and has been retained by the Trustees to provide actuarial services required under ERISA in connection with the
                administration of the Plan.

            

       

      	1.20	
              "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time.

            

       

      	1.21	
              "Financial Federal" shall mean Financial Federal Savings Bank.

            

       

      	1.22	
              "Financial Federal Plan" shall mean the Financial Institutions Retirement Fund, as adopted by Financial Federal on January 20, 1998.

            

       

      	1.23	
              "Financial Federal Plan Benefit" shall mean the accrued benefit, including any actuarial adjustments, of a Financial Federal Plan Participant under the Financial Federal Plan as determined on February 7, 1999.

            

       

      	1.24	
              "Financial Federal Plan Participant" shall mean each Participant entitled to a Financial Federal Plan Benefit.

            

       

      	1.25	
              "Former Participating Employer" shall mean any Participating Employer that has terminated or withdrawn its Plan from the Trust.

            

       

      	1.26	
              "Hour of Service" shall mean the following:

            

       

      	

            	(a)	
              each hour for which an Employee is directly or indirectly paid, or entitled to payment, by the Employer for the performance of duties.  These hours shall be credited to the Employee for the Eligibility Computation Period or Eligibility
                Computation Periods in which the duties are performed; and

            

       

      	

            	(b)	
              each hour for which an Employee is directly or indirectly paid or entitled to payment by the Employer for reasons (such as but not limited to vacation, sickness, disability, layoff, jury duty, military duty or leave of absence) other
                than for the performance of duties (irrespective of whether the employment relationship has terminated).  These hours shall be credited to the Employee for the Eligibility Computation Period or Eligibility Computation Periods in which the
                nonperformance of duties occurred, provided, however, that no more than five hundred one (501) Hours of Service shall be credited under this subsection (b) to an Employee on account of any single continuous period (whether or not such
                period occurs in a single Eligibility Computation Period); and

            

       

      	

            	(c)	
              each hour for which back pay, irrespective of mitigation of damage, has been either awarded or agreed to by the Employer.  These hours shall be credited to the Employee for the Eligibility Computation Period or Eligibility Computation
                Periods to which the award or agreement pertains rather than the Eligibility Computation Period in which the award, agreement, or payment was made.  These same Hours of Service shall not be credited under both Section 1.26(a) or (b) and
                under this Section 1.26(c).

            

       

      
        
          	
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            	(d)	
              Hours of Service shall be computed and credited in accordance with Section 2530.200b-2(b) and (c) of the Department of Labor Regulations which are incorporated herein by reference.

            

       

      	

            	(e)	
              Hours of Service shall include Affiliated Service.

            

       

      Hours of Service for Employees for whom records of hours are not maintained shall be determined on the assumption that each such Employee has completed forty-five (45) Hours of Service during each
        week for which he would be required to be credited with at least one (1) Hour of Service.

       

      	1.27	
              “In-Service Distributions” shall mean a Retirement Benefit payable to a Participant pursuant to Section 9.14.

            

       

      	1.28	
              "Investment Fiduciaries" shall mean the Trustees, or if the Employer so elects, any person or group of persons designated by the Employer to direct the manner in which the Plan Interest shall be allocated between investment
                classifications and/or investment funds maintained by the Trustees.  Any such person shall be deemed a named fiduciary under ERISA.

            

       

      	1.29	
              "Leased Employee" shall mean any individual (other than an Employee of the Employer or an employee of an Affiliated Employer) who, pursuant to an agreement between the Employer or any Affiliated Employer and any other person ("leasing
                organization"), has performed services for the Employer or any Affiliated Employer on a substantially full-time basis for a period of at least one (1) year, and such services are performed under the primary direction of or control by the
                Employer or any Affiliated Employer.  A determination as to whether a Leased Employee shall be treated as an Employee of the Employer or an Affiliated Employer shall be made as follows:  a Leased Employee shall not be considered an Employee
                of the Employer if: (a) such employee is a participant in a money purchase pension plan providing (i) a nonintegrated Employer contribution rate of at least ten percent (10%) of compensation, as defined in Section 415(c)(3) of the Code and
                Income Tax Regulations Sections 1.415-2(d)(2)(ii) through (vi), however, including (A) amounts contributed pursuant to a compensation reduction agreement which are excludable from the employee’s gross income under Section 125, Section
                402(e)(3), Section 402(h)(1)(B) or Section 403(b) of the Code, and (B) elective amounts that are excludable from the gross income of an Employee by reason of Section 132(f)(4) of the Code or Section 457 of the Code, but shall exclude
                amounts under Income Tax Regulations Section 1.415-2(d)(3); (ii) immediate plan participation; and (iii) full and immediate vesting; and (b) Leased Employees do not constitute more than twenty percent (20%) of the Employer’s Non-Highly
                Compensated Employees.

            

       

      	1.30	
              "Merged Plan" means the Pioneer Savings Bank, FSB Plan in the New York State Bankers Retirement System.

            

       

      	1.31	
              "Merged Plan Benefit" shall mean the benefit of a Merged Plan Participant under the Merged Plan as of June 26, 1996.  The normal form of payment of the Merged Plan Benefit shall be converted from a Sixty Month Period Certain and Life
                Benefit to a Straight Life Annuity.

            

       

      	1.32	
              "Merged Plan Participant" shall mean each Participant who was a participant in the Merged Plan on June 26, 1996.

            

       

      
        
          	
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                  Definitions

                

        

      

       

      	1.33	
              "Military Leave" shall mean service in the Armed Forces of the United States of America.  Such leave shall not constitute a Break in Service as defined under Section 5.2(a) or a Period of Severance but shall be considered to be Hours of
                Service or a Period of Service, as applicable, with the Employer in determining the Participant's Years of Eligibility Service, Vested Service and Credited Service; provided, however, that (a) such military service is caused by war or other
                emergency or the Employee is required to serve under the laws of conscription in time of peace, (b) the Employee returns to employment with the Employer within six (6) months following discharge from such military service and (c) such
                Employee is reemployed by the Employer at a time when the Employee had a right to reemployment at his former position or substantially similar position upon separation from such military duty in accordance with seniority rights as protected
                under the laws of the United States of America.  Notwithstanding any provision of the plan to the contrary, contributions, benefits and calculation of service with respect to qualified military service will be provided in accordance with
                Section 414(u) of the Code.

            

       

      Notwithstanding the preceding paragraph, effective as of January 1, 2007, a Participant who dies or becomes disabled while performing qualified military service shall be deemed to be reemployed by
        the Employer, in accordance with his reemployment rights under the Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”), on the day preceding his death or disability, as applicable, and to have incurred a Termination of
        Service on the actual date of death or disability.  In the case of any such treatment, any full or partial compliance by the Plan with respect to the benefit accrual requirements with respect to such Participant shall be treated as if such
        compliance were required under USERRA, provided all Participants performing qualified military service who die or become disabled as a result of performing qualified military service prior to reemployment by the Employer, are credited with service
        and benefits on reasonably equivalent terms.

       

      	1.34	
              "Named Fiduciaries" shall mean the Trustees and the Employee Benefits Committee designated by the Employer to control and manage the operation and administration of the Plan.

            

       

      	1.35	
              "Normal Retirement Age" shall mean (a) with regard to any Employee in the Plan other than an Employee described in subsection (b), the later of (i) the date the Participant attains age sixty-five (65), or (ii) the fifth (5th) anniversary
                of the Participant’s initial participation in the Plan or (b) with regard to a Merged Plan Participant or a Financial Federal Plan Participant, the date the Participant attains age sixty-five (65).

            

       

      	1.36	
              "Normal Retirement Benefit" shall mean the benefit determined in accordance with Section 7.2.

            

       

      	1.37	
              "Normal Retirement Date" shall mean the first day of the month coincident with or next following a Participant's attainment of his Normal Retirement Age.

            

       

      	1.38	
              "One Year Period of Severance" shall mean, for the purpose of determining a Participant's Vested Service and Credited Service, a Period of Severance of twelve (12) consecutive months.

            

       

      
        
          	
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                  Definitions

                

        

      

       

      	1.39	
              "Participant" shall mean any Employee or former Employee enrolled in the Plan whose participation in the Plan has not been terminated.  Participant shall not include a Retired Participant.

            

       

      	1.40	
              "Participating Affiliate" shall mean any corporation that is a member of a controlled group of corporations (within the meaning of Section 414(b) of the Code) of which the Sponsoring Employer is a member and any unincorporated trade or
                business that is a member of a group of trades or businesses under common control (within the meaning of Section 414(c) of the Code) of which the Sponsoring Employer is a member, which, with the prior approval of the Sponsoring Employer and
                subject to such terms and conditions as may be imposed by such Sponsoring Employer and the Trustees, shall adopt this Plan in accordance with the provisions of Section 14.14 and the Agreement.  Such entity shall continue to be a
                Participating Affiliate until such entity terminates its participation in the Plan in accordance with Section 14.14.

            

       

      	1.41	
              "Participating Employer" shall mean any eligible organization that maintains a plan in the Trust pursuant to the Agreement.

            

       

      	1.42	
              "PBGC" shall mean the Pension Benefit Guaranty Corporation.

            

       

      	1.43	
              "Period of Service" shall mean the period commencing on the first day of the month in which an Employee first performs an Hour of Service and ending with such Employee's Termination of Service.

            

       

      Notwithstanding the foregoing, the period between the first and second anniversary of the first date of a maternity or paternity absence described under Section 5.2(a) shall not
        be included in determining a Period of Service.

       

      A period during which an individual was not employed by the Employer shall nevertheless be deemed to be a Period of Service if such individual incurred a Termination of Service
        and;

       

      	

            	(a)	
              such Termination of Service was the result of resignation, discharge or retirement and such individual is reemployed by the Employer within one (1) year after such Termination of Service; or

            

       

      	

            	(b)	
              such Termination of Service occurred when the individual was otherwise absent for less than one (1) year and he was reemployed by the Employer within one (1) year after the date such absence began.

            

       

      All Periods of Service not disregarded under Section 6.1(c)(iv) or Section 6.2(c)(iv) shall be aggregated.

       

      Whenever used in the Plan, a Period of Service means the quotient obtained by dividing the days in all Periods of Service not disregarded hereunder by three hundred sixty-five
        (365) and disregarding any fractional remainder.

       

      	1.44	
              "Period of Severance" shall mean the period following a Participant's Termination of Service with the Employer during which period the Participant does not perform an Hour of Service.

            

       

      
        
          	
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                  Definitions

                

        

      

       

      	1.45	
              "Plan" shall mean The Retirement Plan of Dime Community Bank in Pentegra Retirement Trust as amended from time to time.  The Plan is subject to the terms and conditions of the Agreement which are incorporated herein and made a part
                hereof.

            

       

      	1.46	
              "Plan Administrator" shall mean the person or persons who have been designated by the Employer in accordance with Section 3.4.

            

       

      	1.47	
              "Plan Freeze Date" shall mean March 31, 2000.

            

       

      	1.48	
              "Plan Interest" shall mean the beneficial interest of the Employer in the Trust Fund as determined in accordance with the Agreement.

            

       

      	1.49	
              "Plan Year" shall mean any twelve (12) month period commencing October 1 and ending September 30.

            

       

      	1.50	
              "Postponed Retirement Benefit" shall mean the benefits determined in accordance with Section 7.3.

            

       

      	1.51	
              "Postponed Retirement Date" shall mean the first day of the month coincident with or next following a Participant's Termination of Service which occurs subsequent to his Normal Retirement Date.

            

       

      	1.52	
              "Post Termination Survivor Annuity" shall mean the benefit determined in accordance with Section 7.7(b).

            

       

      	1.53	
              "Preretirement Survivor Annuity" shall mean the benefits determined in accordance with Section 7.7(a).

            

       

      	1.54	
              "Prior Plan" shall mean The Retirement Plan of Dime Community Bank in Pentegra Retirement Trust as in effect on the date immediately prior to the Restatement Date.

            

       

      	1.55	
              "Restatement Date" shall mean October 1, 2019.

            

       

      	1.56	
              "Retired Participant" shall mean any former Employee whose Termination of Service with the Employer was due to retirement (a) under the Plan pursuant to Section 7.2, 7.3, 7.4 or 7.5 or (b) under the provisions of the Prior Plan.

            

       

      	1.57	
              "Retirement Benefit" shall mean (a) the annual benefit or (b) a single lump sum payment pursuant to Section 9.7(c)(ii) or Section 9.8, attributable to Employer contributions which are to be distributed to (i) a Retired Participant or
                Beneficiary, or (ii) effective February 1, 2014, a Participant who is eligible to receive In-Service Distributions as set forth under Section 9.14.

            

       

      	1.58	
              "Sponsoring Employer" shall mean Dime Community Bank or any eligible successor organization which shall continue to maintain the Plan pursuant to Section 14.6.

            

       

      	1.59	
              "Spouse" shall mean a person to whom the Participant was legally married and which marriage had not been dissolved by formal divorce proceedings that had been completed prior to the date on which the Participant's Retirement Benefit
                payments are scheduled to commence.

            

       

      	1.60	
              "Termination of Service" shall mean the earlier of (a) the date the Employee quits, is discharged, retires or dies or (b) one (1) year from the date the Employee is continuously absent from service with the Employer for any other reason
                (e.g., disability, vacation, leave of absence, layoff, etc.).  Termination of Service shall be subject to the provisions set forth in the definition of Military Leave.

            

       

      
        
          	
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                  Definitions

                

        

      

       

      Any Participant who is eligible to receive disability benefits under the Employer's long-term disability program on or after his Normal Retirement Date shall be deemed to have
        retired and to have incurred a Termination of Service on the date such Participant is eligible to receive such benefits.  However, any Participant who (i) becomes disabled prior to his Normal Retirement Date, (ii) has completed at least ten (10)
        years of Vested Service determined pursuant to Section 6.1 and (iii) is eligible to receive disability benefits under the Employer's long-term disability program, shall not incur a Termination of Service and shall be deemed to be in the employ of
        the Employer for purposes of this Plan.  In the event such Participant continues to receive disability benefits under the Employer's long-term disability program until the date he would otherwise have been entitled to a Normal Retirement Benefit
        pursuant to Section 7.2, such date shall be deemed to be the date of his Termination of Service and he shall then be retired with a Normal Retirement Benefit.  In the event such Participant's disability benefits under the Employer's long-term
        disability program end on a date prior to his entitlement to a Normal Retirement Benefit, such date shall, unless he again becomes an Employee of the Employer, be deemed to be the date of his Termination of Service.

       

      In addition, any Participant who was a participant in the Merged Plan and who was eligible for receipt of disability benefits under the Social Security Act and under any long-term
        disability program of Pioneer Savings Bank, FSB on or after his Normal Retirement Date, shall be deemed to have retired and to have incurred a Termination of Service on the date such Participant is eligible to receive such benefits.  However, any
        Participant who (i) became disabled, prior to June 26, 1996, under the terms of the Merged Plan, and prior to his Normal Retirement Date and (ii) is eligible to receive disability benefits under the Social Security Act and under the long-term
        disability program of Pioneer Savings Bank, FSB, shall not incur a Termination of Service and shall be deemed to be in the employ of the Employer for purposes of this Plan.  In the event such Participant continues to receive disability benefits
        under the Pioneer Savings Bank, FSB's long-term disability program until the date he would otherwise have reached his Normal Retirement Date, such date shall be deemed to be the date of his Termination of Service and he shall then be retired with a
        Normal Retirement Benefit in accordance with the provisions of Section 7.6.  In the event such Participant's disability benefits under the long-term disability program of Pioneer Savings Bank, FSB end on a date prior to his entitlement to a Normal
        Retirement Benefit but on or after the individual’s attainment of age fifty-five (55), such individual may elect to retire and have Early Retirement Benefits commence as of such date.  However, if payments under any long-term disability program
        cease on a date prior to the individual’s fifty-fifth birthday, such date shall, unless he becomes an Employee of the Employer, be deemed to be the date of his Termination of Service.

       

      Notwithstanding the foregoing, if an Employee is absent for any of the maternity or paternity reasons set forth in Section 5.2(a), then, for purposes of determining a One Year
        Period of Severance, such Employee's Termination of Service shall not occur until the earlier of the date set forth in (a) above or the date twenty‐four (24) months from the first date of such absence.

       

      
        
          	
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                  Definitions

                

        

      

       

      	1.61	
              "Trust" shall mean the trust established or maintained under the Agreement with respect to the Plan.

            

       

      	1.62	
              "Trust Fund" shall mean the assets held in accordance with the Agreement.

            

       

      	1.63	
              "Trustees" shall mean the Trustees of the Pentegra Retirement Trust.

            

       

      	1.64	
              "Vested Retirement Benefit" shall mean the benefit determined in accordance with Section 7.5.

            

       

      	1.65	
              "Vested Service" shall mean a Participant's service calculated in accordance with Section 6.1.  For any Employee who was an employee of an Acquired Company on the date of its acquisition by the Employer and became employed by the
                Employer on such date, Vested Service shall include service recognized for purposes of vesting under the Merged Plan of such Acquired Company.  For any Employee who was an employee of Financial Federal on January 20, 1999 and became
                employed by the Employer on January 21, 1999, Vested Service shall include service recognized for purposes of vesting under the Financial Federal Plan.

            

       

      	1.66	
              "Year of Eligibility Service" shall mean an Eligibility Computation Period during which the Employee completes at least one thousand (1,000) Hours of Service.  For purposes of determining eligibility to participate, the Year of
                Eligibility Service of any individual who was employed by an Acquired Company immediately on the date of the transaction by which such company became an Acquired Company, shall include service recognized for purposes of eligibility to
                participate under the Merged Plan of such Acquired Company.

            

       

      
        
          	
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                    Article II -

                  

                  Plan History

                

        

      

       

      ARTICLE II ‐

        PLAN HISTORY

       

      Pursuant to an Agreement and Declaration of Trust made as of October 22, 1940 ("SBRS Agreement"), a retirement system, organized as a trust and known as The Savings Banks Retirement System ("SBRS") was established
        for the benefit of employees of savings banks and certain other organizations.  Effective as of January 1, 1958 the Employer adopted the Prior Plan pursuant to the SBRS Agreement.

      

      

      Subsequent amendments were made to the Prior Plan and the SBRS Agreement which were then restated in their entirety as of October 1, 1976 primarily to conform to the requirements of ERISA.  Thereafter, these
        documents were further amended from time to time.

      

      

      Effective as of August 31, 1984, SBRS changed its name to Retirement System for Savings Institutions and began operating as an open end, diversified investment company of the management type, within the meaning of
        the Investment Company Act of 1940, as amended.  The SBRS Agreement was amended and restated in its entirety ("Agreement") to reflect the change in operation and in name.

      

      

      The Prior Plan as amended and restated on October 1, 1987 continued to be referred to as the "Prior Plan".

      

      

      Effective as of August 1, 1990, Retirement System for Savings Institutions effectuated a reorgani-zation through a transfer of its operating assets and business and certain intangible assets to sub-sidiaries of a
        newly organized corporation, Retirement System Group Inc., in exchange for shares of the common stock of such company and the spin-off of such company through the allocation of such shares to the affected organizations participating in the Trust on
        such date.  Also effective as of August 1, 1990, the Trust became known as the RSI Retirement Trust; and all investment, advisory, administrative, distribution and consulting services previously performed by the RSI Retirement Trust trustees
        (“Trustees”) are performed under contracts with the newly organized corporation and/or its subsidiaries or such other servicing agencies as may be selected by the Trustees from time to time.  Effective as of December 12, 2013, RSI Retirement Trust
        changed its name to Pentegra Retirement Trust. The Trust is no longer operating as an open end, diversified investment company of the management type and services to the Trust are provided by Pentegra Services, Inc. and its subsidiaries.

      

      

      Effective as of June 26, 1996, Pioneer Savings Bank, F.S.B. and it parent Conestoga Bancorp, Inc. were acquired by the Employer.  In connection with this acquisition, the Employer amended the Prior Plan to give
        credit to employees of specified “acquired companies” for purposes of vesting and eligibility to participate, and to permit immediate participation as of the date of such acquisition for eligible employees with respect to compensation for the full
        payroll period that includes the date of such acquisition.

      

      

      Effective September 30, 1996 (the "Merger Date") the Pioneer Savings Bank, FSB (formerly known as the Pioneer Savings and Loan Association) Plan in the New York State Bankers Retirement System (the "Merged Plan") was
        merged with and into the Retirement Plan of The Dime Savings Bank of Williamsburgh in RSI Retirement Trust.  The rights and benefits of (a) any former employee of an Acquired Company whose employment with such Acquired Company terminated on or
        before the Merger Date, and/or (b) any participant of the Merged Plan whose employment with the Acquired Company terminated prior to the Merger Date shall be determined in accordance with the provisions of the Merged Plan as in effect prior to the
        Merger Date.  The rights and benefits of all other former employees of the Acquired Company shall be determined in accordance with the provisions of the Prior Plan or this Plan.

      

      

      
        
          	
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                      Article II -

                    

                    Plan History

                  

          

        

      

      

      

      Effective as of October 1, 1997, the Prior Plan was amended and restated to comply with all pension provisions commonly referred to as GUST II.

      

      

      Effective as of April 1, 1998, DSBW Preferred Funding Corporation and DSBW Residential Preferred Funding Corporation were incorporated as wholly-owned subsidiaries of The Dime Savings Bank of Williamsburgh.  In
        accordance with resolutions adopted by the Board of The Dime Savings Bank of Williamsburgh, the Board of DSBW Preferred Funding Corporation and DSWB Residential Preferred Funding Corporation, respectively, effective April 1, 1998, DSBW Preferred
        Funding Corporation and DSBW Residential Preferred Funding Corporation became Participating Affiliates in the Plan.

      

      

      Effective as of January 21, 1999, Financial Federal was acquired by the Employer and, the Employer as successor in interest to Financial Federal, became Employer and Plan sponsor of the Financial Federal Plan. 
        Effective as of February 8, 1999, all benefit accruals under the Financial Federal Plan ceased.  The rights and benefits of any former employee of Financial Federal or any participant of the Financial Federal Plan whose employment with Financial
        Federal or the Employer terminated prior to February 8, 1999 shall be determined in accordance with the provisions of the Financial Federal Plan as in effect prior to February 8, 1999.  The rights and benefits of all other former employees of
        Financial Federal shall be determined in accordance with the provisions of this Plan.  Effective September 30, 1999, the Financial Federal Plan will be merged with and into The Retirement Plan of The Dime Savings Bank of Williamsburgh in RSI
        Retirement Trust.

      

      

      Pursuant to resolutions adopted by the Employer, the Plan shall be frozen, effective as of March 31, 2000 (the "Plan Freeze Date").  Effective as of the Plan Freeze Date, (i) no Employee may commence or recommence
        participation in the Plan, (ii) Average Annual Earnings shall not include any Compensation received by a Participant on or after the Plan Freeze Date and (iii) the accruals of all Participants' benefits shall cease.

      

      

      Effective October 1, 2011, the Employer amended and restated the Prior Plan (“Prior Plan”).  The Plan, as restated, complies with Internal Revenue Service legislation and regulations issued to date addressing
        tax-qualified plans, including the requirements of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), with technical corrections made by the Job Creation and Worker Assistance Act (JCWAA), final regulations under Section 401(a)(9) of the Internal Revenue Code ("Code"), the December 31, 2002 changes to the mortality tables used under Code Section 417(e) in accordance with Revenue Ruling
        2001-62, the Pension Funding Equity Act (PFEA), IRS procedural guidance (Notice 2005-5) addressing required “automatic rollovers” under Section 401(a)(31)(B) of the Code, final regulations under Code Section
        415, final regulations under Code Section 411(d)(6), and final regulations under Code Section 417.

      

      

      
        
          	
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                      Article II -

                    

                    Plan History

                  

          

        

      

      

      

      In addition to the above noted legislation and regulations, the Plan complies with the provisions of: the Pension Protection Act of 2006 ("PPA") addressing  the addition of a new Qualified Optional Survivor Annuity,
        direct rollovers to a Roth IRA and non-spouse inherited rollovers, and the expansion of the notice and consent period for a Qualified Joint and Survivor Annuity to one hundred-eighty (180) days prior to the date benefit payments are to commence;
        and Code Sections 430 and 436 and the Final Regulations thereunder published on October 15, 2009, and The Heroes Earnings Assistance and Relief Tax Act of 2008 ("HEART") addressing differential wage payments, and benefits upon death or disability
        while performing active military service; and the Worker, Retiree and Employer Recovery Act of 2008 ("WRERA") addressing the waiver of the prohibition on mandatory lump sum payments of five thousand dollars ($5,000) or less under certain
        circumstances, and the requirement that the Plan be funded to the applicable transition funding target percentage for each of the three (3) transition relief years.

      

      

      Effective February 1, 2014, the Plan became known as The Retirement Plan of The Dime Savings Bank of Williamsburgh in Pentegra Retirement Trust.  Effective November 1, 2016, the Employer changed its name to Dime
        Community Bank and the name of the Plan became known as The Retirement Plan of Dime Community Bank in Pentegra Retirement Trust.

      

      

      Effective as of October 1, 2019, (“Restatement Date”), the Prior Plan is amended and restated in its entirety and shall continue to be known as The Retirement Plan of Dime Community Bank in Pentegra Retirement Trust (“Plan”).

      

      

      Subject to any amendments that may subsequently be adopted by the Employer pur-suant to Section 14.1, the provisions set forth in this Plan shall apply to any Employee who is in the employment of the Employer on or
        after the Restatement Date.

      

      

      Except to the extent specifically required to the contrary under the terms of this Plan, for terminations of employment prior to the Restatement Date, the rights and benefits of a former participant shall be
        determined in accordance with the provisions of the Prior Plan as in effect on the date of the former participant's termination of employment.

      

      

      The Plan shall in all respects be subject to the provisions of the Agreement which are incorporated herein and made a part hereof.

      

      

      The Employer has herein restated the Prior Plan with the intention that (i) the Plan shall at all times be qualified under Section 401(a) of the Code, (ii) the Agreement shall be tax-exempt under Section 501(a) of
        the Code, and (iii) Employer contributions under the Plan shall be tax deductible under Section 404 of the Code.  The provisions of the Plan and the Agreement shall be construed to effectuate such intention.

      

      

      
        
          	
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                      Administration

                    

                  

          

        

      

      

      ARTICLE III ‐

        ADMINISTRATION

       

      
        	
                3.1

              	
                General Administration of the Plan

              

      

       

      The operation and administration of the Plan shall be subject to the management and control of the Named Fiduciaries, Investment Fiduciaries and Plan Administrator designated by the Sponsoring
        Employer.  The designation of such Named Fiduciaries, Investment Fiduciaries and Plan Administrator, the terms of their appointment, and their duties and responsibilities shall be as set forth in this Article III.  Any actions taken hereunder shall
        be conclusive and binding on Participants, Retired Participants, Employees, Beneficiaries and other persons, and shall not be overturned unless found to be arbitrary and capricious by a court of competent jurisdiction.

       

      
        	
                3.2

              	
                Designation of Fiduciaries

              

      

       

      The management and control of the operation and administration of the Plan shall be allocated in the following manner:

       

      	

            	(a)	
              The Sponsoring Employer shall designate the Trustees of the Trust as a Named Fiduciary to perform those functions set forth in the Agreement or the Plan that are assigned to the Trustees of the Trust.

            

       

      	

            	(b)	
              The Sponsoring Employer shall designate one or more individuals to serve as member(s) of the Employee Benefits Committee and to perform those functions set forth in the Agreement or the Plan that are assigned to such Employee Benefits
                Committee.

            

       

      	

            	(c)	
              The Sponsoring Employer may designate one or more members of the Employee Benefits Committee or any other person or group of persons to act as Investment Fiduciaries and to perform those functions set forth in the Agreement or the Plan
                that are assigned to the Investment Fiduciaries.

            

       

      	

            	(d)	
              A Trust Participant, as defined under the Agreement, may delegate to a person or persons the duties and responsibilities for voting units set forth in the Agreement.

            

       

      
        	
                3.3

              	
                Responsibilities of Fiduciaries

              

      

       

      The Named Fiduciaries, Plan Administrator and Investment Fiduciaries shall have only those powers, duties, responsibilities and obligations that are specifically allocated to them under the Plan or
        the Agreement.

       

      To the extent permitted by ERISA, each Named Fiduciary and Plan Administrator may rely upon any direction, information or action of another Named Fiduciary, Investment Fiduciary, Plan Administrator
        or the Sponsoring Employer as being proper under the Plan or the Agreement and is not required to inquire into the propriety of any such direction, information or action and no Named Fiduciary or Plan Administrator shall be responsible for any act
        or failure to act of another Named Fiduciary, Plan Administrator, Investment Fiduciary or the Sponsoring Employer.

       

      To the extent permitted by ERISA, each Investment Fiduciary may rely on any direction, information or action of another Investment Fiduciary or the Sponsoring Employer as being proper under the
        Plan or the Agreement and is not required to inquire into the propriety of any such direction, information or action and no Investment Fiduciary shall be responsible for any act or failure to act of another Investment Fiduciary or the Sponsoring
        Employer.

       

      
        
          	
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                        Article III -

                        Administration

                      

                    

            

          

        

      

       

      No Named Fiduciary, Plan Administrator, Employer or Investment Fiduciary guarantees the Trust Fund in any manner against investment loss or depreciation in asset value.

       

      The allocation of responsibility between the Trustees and the Sponsoring Employer may be changed by written agreement.  Such reallocation shall be evidenced by Employer Resolutions and shall not be
        deemed an amendment to the Plan.

       

      
        	
                3.4

              	
                Plan Administrator

              

      

       

      The Sponsoring Employer shall designate the Trustees as the Trustee Administrator and shall designate the Sponsoring Employer, one or more persons or a group of persons to act as the Plan
        Administrator and to perform those functions set forth in the Agreement or the Plan that are assigned to the Plan Administrator.

       

      The duties and responsibilities of a plan administrator under ERISA shall be allocated between the Plan Administrator and the Trustee Administrator as set forth in the Agreement.
        Such allocation may be changed only by written agreement between the parties and shall not be deemed an amendment to the Plan.

       

      The Plan Administrator is designated as the Plan's agent for the service of legal process.

       

      
        	
                3.5

              	
                Employee Benefits Committee

              

      

       

      The members of the Employee Benefits Committee designated by the Sponsoring Employer under Section 3.2(b) shall serve for such term(s) as the Sponsoring Employer shall determine
        and until their successors are designated and qualified.  The term of any member of the Employee Benefits Committee may be renewed from time to time without limitation as to the number of renewals. Any member of the Employee Benefits Committee may
        (a) resign upon at least sixty (60) days written notice to the Sponsoring Employer or (b) be removed from office but only for his failure or inability, in the opinion of the Sponsoring Employer, to carry out his responsibility in an effective
        manner. Termination of employment with the Employer shall be deemed to give rise to such failure or inability.

       

      The powers and duties allocated to the Employee Benefits Committee shall be vested jointly and severally in its members.  Notwithstanding specific instructions to the contrary,
        any instrument or document signed on behalf of the Employee Benefits Committee by any member of the Employee Benefits Committee may be accepted and relied upon by the Trustees as the act of the Employee Benefits Committee.  The Trustees shall not
        be required to inquire into the propriety of any such action taken by the Employee Benefits Committee nor shall they be held liable for any actions taken by them in reliance thereon.

       

      The Sponsoring Employer may, pursuant to Employer Resolutions and upon notice to the Trustees, change the number of individuals comprising the Employee Benefits Committee, their
        terms of office or other conditions of their incumbency provided that there shall be at all times at least one individual member of the Employee Benefits Committee.  Any such change shall not be deemed an amendment to the Plan.

       

      
        
          	
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                        Administration

                      

                    

            

          

        

      

       

      
        	
                3.6

              	
                Powers and Duties of the Employee Benefits Committee

              

      

       

      The Employee Benefits Committee shall have authority to perform all acts it may deem necessary or appropriate in order to exercise the duties and powers imposed or granted by
        ERISA, the Plan, the Agreement or any Employer Resolutions.  Such duties and powers shall include, but not be limited to, the following:

       

      	

            	(a)	
              Power to Construe ‐ Except as otherwise provided in the Agreement, the Employee Benefits Committee shall have the power to construe the provisions of the Plan and to determine any questions of fact which may arise thereunder.

            

       

      	

            	(b)	
              Power to Make Rules and Regulations ‐ The Employee Benefits Committee shall have the power to make such rules and regulations as it may deem necessary or appropriate to perform its duties and exercise its powers.  Such rules and
                regulations shall include, but not be limited to, those governing (i) the manner in which the Employee Benefits Committee shall act and manage its own affairs, (ii) the procedures to be followed in order for Participants or Beneficiaries to
                claim benefits, and (iii) the procedures to be followed by Participants, Retired Participants and Beneficiaries with respect to notifications, elections, designations or other actions required by the Plan or ERISA.  All such rules and
                regulations shall be applied in a uniform and nondiscriminatory manner.

            

       

      	

            	(c)	
              Powers and Duties with Respect to Information ‐ The Employee Benefits Committee shall have the power and responsibility:

            

       

      	

            	(i)	
              to obtain such information as shall be necessary for the proper discharge of its duties;

            

       

      	

            	(ii)	
              to furnish to the Employer, upon request, such reports as are reasonable and appropriate;

            

       

      	

            	(iii)	
              to receive and review the results of the periodic valuations made by the Enrolled Actuary; and

            

       

      	

            	(iv)	
              to receive, review and retain periodic reports of the financial condition of the Trust Fund.

            

       

      	

            	(d)	
              Power of Delegation ‐ The Employee Benefits Committee shall have the power to delegate fiduciary responsibilities (other than trustee responsibilities defined in Section 405(c)(3) of ERISA) to one or more persons who are not
                members of the Employee Benefits Committee.  Unless otherwise expressly indicated by the Sponsoring Employer, the Employee Benefits Committee must reserve the right to terminate such delegation upon reasonable notice.

            

       

      	

            	(e)	
              Power of Allocation ‐ Subject to the written approval of the Sponsoring Employer, the Employee Benefits Committee shall have the power to allocate among its members specified fiduciary responsibilities (other than trustee
                responsibilities defined in Section 405(c)(3) of ERISA).  Any such allocation shall be in writing and shall specify the persons to whom such allocation is made and the terms and conditions thereof.

            

       

      
        
          	
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                        Administration

                      

                    

            

          

        

      

       

      	

            	(f)	
              Duty to Report ‐ Any member of the Employee Benefits Committee to whom specified fiduciary responsibilities have been allocated under Section 3.6(e) above shall report to the Employee Benefits Committee at least annually.  The
                Employee Benefits Committee shall report to the Sponsoring Employer at least annually regarding the performance of its responsibilities as well as the performance of any persons to whom any powers and responsibilities have been further
                delegated.

            

       

      	

            	(g)	
              Power to Employ Advisors and Retain Services ‐ The Employee Benefits Committee may employ such legal counsel, Enrolled Actuaries, accountants, pension specialists, clerical help and other persons as it may deem necessary or
                desirable in order to fulfill its responsibilities under the Plan.

            

       

      
        	
                3.7

              	
                Powers and Duties of the Investment Fiduciaries

              

      

       

      The Investment Fiduciaries in conjunction with the Trustees shall establish a funding policy for the Plan as provided for in the Agreement.

       

      Subject to the terms and provisions of the Agreement and any Employer Resolutions, the Investment Fiduciaries shall be responsible for directing the allocation of the Plan
        Interest among the investment classifications and/or investment funds.

       

      The Investment Fiduciaries shall report to the Sponsoring Employer at least annually regarding the performance of its responsibilities.

       

      
        	
                3.8

              	
                Authorization of Benefit Payments

              

      

       

      The Employee Benefits Committee shall forward to the Trustees any application for payment of benefits within a reasonable time after it has approved such application.  The
        Trustees may rely on any such information provided in the approved application for the payment of benefits to the Participant or any Beneficiary.

       

      
        	
                3.9

              	
                Payment of Benefits to Legal Custodian

              

      

       

      Whenever, in the Employee Benefits Committee's opinion, a person entitled to receive any benefit payments is a minor or deemed to be physically, mentally or legally incompetent to
        receive such benefit payments, the Employee Benefits Committee may direct the Trustees to make payments for his benefit to the individual or institution having legal custody of such person or to such person's legal representative, provided,
        however, that in the case of a person who has been declared to be incompetent, benefit payments can be made only to a valid power of attorney, a court appointed guardian, or any other person authorized under state law to receive the benefit.  Any
        benefit payment made in accordance with the provisions of this Section 3.9 shall operate as a valid and complete discharge of any liability for payment of such benefit under the provisions of the Plan.

       

      
        	
                3.10

              	
                Service in More Than One Fiduciary Capacity

              

      

       

      Any person or group of persons may serve in more than one fiduciary capacity with respect to the Plan, regardless of whether any such person is an officer, employee, agent or
        other representative of a party in interest.

       

      
        	
                3.11

              	
                Payment of Expenses

              

      

       

      Any reasonable expenses incurred in the administration and operation of the Plan shall be paid by the Employer except to the extent the Employer has elected to pay such expenses
        from the Plan Interest.

       

      
        
          	
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                        Article IV -

                         Plan Contributions

                      

                    

            

          

        

      

      

      ARTICLE IV ‐

        PLAN CONTRIBUTIONS

       

      
        	
                4.1

              	
                Administration

              

      

       

      All contributions forwarded by the Employer to the Trustees shall be administered in accordance with the provisions of the Agreement.  The Plan Interest shall be established,
        maintained and adjusted by the Trustees in the manner set forth in the Agreement.  The rights of the Employer, Participants, Retired Participants and Beneficiaries shall be subject to the terms of the Plan and the Agreement.

       

      
        	
                4.2

              	
                Employer Contributions

              

      

       

      The Employer shall from time to time forward contributions to the Trustees in an amount sufficient to meet the minimum funding standards prescribed by ERISA as determined at least
        annually by the Enrolled Actuary using the method of actuarial valuation and actuarial tables, factors and other assumptions established pursuant to the Agreement.  Additional amounts may be contributed only to the extent permitted by ERISA.

       

      Employer contributions shall be forwarded to the Trustees monthly or at such other intervals as may be agreed upon by the Employer and the Trustees, to the extent not otherwise required by law.

       

      
        	
                4.3

              	
                Participant Contributions

              

      

       

      A Participant is neither required nor permitted to make any contributions under this Plan.

       

      
        	
                4.4

              	
                Exclusive Benefit; Refund of Employer Contributions

              

      

       

      Subject to Sections 3.11 and 11.3, all assets of the Trust Fund shall be retained for the exclusive benefit of Participants, Retired Participants and their Beneficiaries.

       

      Notwithstanding anything herein to the contrary, upon the Employer's request and with the consent of the Trustees, a contribution to the Plan by the Employer which was (a) made by
        a good faith mistake of fact, or (b) conditioned upon initial qualification of the Plan with the Internal Revenue Service, a timely determination letter request was filed and the Plan received an adverse determination or (c) conditioned upon the
        deductibility by the Employer of such contributions under Section 404 of the Code shall be returned to the Employer within one (1) year after (i) the payment of a contribution made by mistake of fact, or (ii) the denial of such qualification, or
        (iii) the disallowance of the deduction (to the extent disallowed).  For purposes of the preceding sentence, (A) in the event the Plan is denied initial qualification, any contribution made incident to such qualification by the Employer must be
        returned to the Employer within one (1) year after the date such qualification is denied, but only if the application for such qualification was made by the later of the time prescribed by law for filing the Employer's return for the taxable year
        in which the Plan was adopted, or such later date as prescribed by the Secretary of the Treasury; and (B) all contributions to the Plan made by the Employer shall be deemed to be conditioned upon the deductibility by the Employer of such
        contributions under Section 404 of the Code unless such contributions are made for the purpose of satisfying the minimum funding standards for tax-qualified plans under the Code.  All such refunds shall be limited in amount, circumstances and
        timing to the provisions of Section 403(c) of ERISA and no such refund shall be made if, solely on account of such refund, the Plan would cease to be qualified pursuant to Section 401(a) of the Code.

       

      
        
          	
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                           Plan Contributions

                        

                      

              

            

          

        

      

       

      
        	
                4.5

              	
                Funding-Based Limits on Benefits and Benefit Accruals

              

      

       

      Effective for Plan Years commencing after December 31, 2007, in order to satisfy the requirements of Code Sections 430 and 436 and the final regulations thereunder, the Plan shall meet the
        requirements set forth below:

       

      	

            	(a)	
              Limitations Applicable if the Plan’s Adjusted Funding Target Attainment Percentage Is Less Than Eighty Percent (80%), But Not Less Than Sixty Percent (60%)

            

       

      Notwithstanding any other provisions of the Plan, if the Plan’s Adjusted Funding Target Attainment Percentage (“AFTAP”) for a Plan Year is less than eighty percent (80%) (or would be less than
        eighty percent (80%) to the extent described in Section 4.5(b), but is not less than sixty percent (60%), then the limitations set forth in this Section 4.5(a) apply.

       

      	

            	(i)	
              Fifty Percent (50%) Limitation on Single Sum Payments, Other Accelerated Forms of Distribution, and Other Prohibited Payments.  A Participant or Beneficiary is not permitted to elect, and the Plan shall not pay, a single sum
                payment or other optional form of benefit that includes a prohibited payment with an annuity starting date on or after the applicable Section 436 measurement date, and the Plan shall not make any payment for the purchase of an irrevocable
                commitment from an insurer to pay benefits or any other payment or transfer that is a prohibited payment, unless the present value of the portion of the benefit that is being paid in a prohibited payment does not exceed the lesser of:

            

       

      	

            	(A)	
              fifty percent (50%) of the present value of the benefit payable in the optional form of benefit that includes the prohibited payment, or

            

       

      	

            	(B)	
              one hundred percent (100%) of the PBGC maximum benefit guarantee amount (as defined in Treasury Regulations Section 1.436-1(d)(3)(iii)(C)).

            

       

      The limitation set forth in this Section 4.5(a)(i) does not apply to any payment of a benefit which under Code Section 411(a)(11) may be immediately distributed without the consent of the
        Participant.  If an optional form of benefit that is otherwise available under the terms of the Plan is not available to a Participant or Beneficiary as of the annuity starting date due to the application of the requirements of this Section
        4.5(a)(i), the Participant or Beneficiary is permitted to elect to bifurcate the benefit into unrestricted and restricted portions (as described in Treasury Regulations Section 1.436-1(d)(3)(iii)(D)).  The Participant or Beneficiary may also elect
        any other optional form of benefit otherwise available under the Plan at that annuity starting date that would satisfy the fifty percent (50%)/ PBGC maximum benefit guarantee amount limitation described in this Section 4.5(a)(i), or may elect to
        defer the benefit in accordance with any general right to defer commencement of benefits under the Plan.

       

      
        
          	
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                           Plan Contributions

                        

                      

              

            

          

        

      

       

      
        Provision to Allow Special Optional Forms of Benefit When Only Half Single Sum Payments Are Permitted to Be Paid.  During a period when this Section 4.5(a)(i) applies to the Plan, Participants
          and Beneficiaries are permitted to elect payment in any optional form of benefit otherwise available under the Plan that provides for the current payment of the unrestricted portion of the benefit (as described in Treasury Regulations Section
          1.436-1(d)(3)(iii)(D)), with a delayed commencement for the restricted portion of the benefit (subject to other applicable qualification requirements such as Code Sections 411(a)(11) and 401(a)(9).

      

       

      

      	

            	(ii)	
              Plan Amendments Increasing Liability for Benefits.  No amendment to the Plan that has the effect of increasing liabilities of the Plan by reason of increases in benefits, establishment of new benefits, changing the rate of benefit
                accrual, or changing the rate at which benefits become nonforfeitable shall take effect in a Plan Year if the AFTAP for the Plan Year is:

            

       

      	

            	(A)	
              less than eighty percent (80%); or

            

       

      	

            	(B)	
              eighty percent (80%) or more, but would be less than eighty percent (80%) if the benefits attributable to the amendment were taken into account in determining the AFTAP.

            

       

      The limitation set forth in this Section 4.5(a)(ii) does not apply to any amendment to the Plan that provides a benefit increase under the Plan formula that is not based on Compensation, provided
        that the rate of such increase does not exceed the contemporaneous rate of increase in the average wages of Participants covered by the amendment.

       

      	

            	(b)	
              Limitations Applicable if the Plan’s Adjusted Funding Target Attainment Percentage Is Less Than Sixty Percent (60%)

            

       

      Notwithstanding any other provisions of the Plan, if the Plan’s AFTAP for a Plan Year is less than sixty percent (60%) (or would be less than sixty percent (60%) to the extent described in this
        Section 4.5(b)), then the limitations in this Section 4.5(b) apply.

       

      	

            	(i)	
              Single Sums, Other Accelerated Forms of Distribution, and Other Prohibited Payments Not Permitted.  A Participant or Beneficiary is not permitted to elect, and the Plan shall not pay, a single sum payment or other optional form of
                benefit that includes a prohibited payment with an annuity starting date on or after the applicable Section 436 measurement date, and the Plan shall not make any payment for the purchase of an irrevocable commitment from an insurer to pay
                benefits or other payment or transfer that is a prohibited payment.  The limitation set forth in this Section 4.5(b) does not apply to any payment of a benefit which under Code Section 411(a)(11) may be immediately distributed without the
                consent of the Participant.

            

       

      	

            	(ii)	
              Shutdown Benefits and Other Unpredictable Contingent Event Benefits Not Permitted to Be Paid.  An unpredictable contingent event benefit with respect to an unpredictable contingent event occurring during a Plan Year shall not be
                paid if the AFTAP for the Plan Year is:

            

       

      
        
          	
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                          Article IV -

                           Plan Contributions

                        

                      

              

            

          

        

      

       

      	

            	(A)	
              less than sixty percent (60%); or

            

       

      	

            	(B)	
              sixty percent (60%) or more, but would be less than sixty percent (60%) if the AFTAP were redetermined applying an actuarial assumption that the likelihood of occurrence of the unpredictable contingent event during the Plan Year is one
                hundred percent (100%).

            

       

      	

            	(iii)	
              Benefit Accruals Frozen.  Benefit accruals under the Plan shall cease as of the applicable Section 436 measurement date.  In addition, if the Plan is required to cease benefit accruals under this Section 4.5(b)(iii), then the Plan
                is not permitted to be amended in a manner that would increase the liabilities of the Plan by reason of an increase in benefits or establishment of new benefits.

            

       

      	

            	(c)	
              Limitations Applicable if the Employer Is in Bankruptcy

            

       

      Notwithstanding any other provisions of the Plan, a Participant or Beneficiary is not permitted to elect, and the Plan shall not pay, a single sum payment or other optional form of benefit that
        includes a prohibited payment with an annuity starting date that occurs during any period in which the Employer is a debtor in a case under Title 11, United States Code, or similar federal or state law, except for payments made within a Plan Year
        with an annuity starting date that occurs on or after the date on which the Plan’s enrolled actuary certifies that the Plan’s AFTAP for that Plan Year is not less than one hundred percent (100%).  In addition, during such period in which the
        Employer is a debtor, the Plan shall not make any payment for the purchase of an irrevocable commitment from an insurer to pay benefits or any other payment or transfer that is a prohibited payment, except for payments that occur on a date within a
        Plan Year that is on or after the date on which the Plan’s enrolled actuary certifies that the Plan’s AFTAP for that Plan Year is not less than one hundred percent (100%).  The limitation set forth in this Section 4.5(c) does not apply to any
        payment of a benefit which under Code Section 411(a)(11) may be immediately distributed without the consent of the Participant.

       

      	

            	(d)	
              Provisions Applicable after Limitations Cease to Apply

            

       

      	

            	(i)	
              Resumption of Prohibited Payments.  If a limitation on prohibited payments under Section 4.5(a)(i), Section 4.5(b)(i) or Section 4.5(c) applied to the Plan as of a Section 436 measurement date, but that limit no longer applies to
                the Plan as of a later Section 436 measurement date, then that limitation does not apply to benefits with annuity starting dates that are on or after that later Section 436 measurement date.

            

       

      	

            	(A)	
              Provision to Allow Full Single Sum Payments for Participants and Beneficiaries Who Previously Could Only Elect Half Single Sums.  In addition, after the Section 436 measurement date on which the
                limitation on prohibited payments under Section 4.5(a)(i), ceases to apply to the Plan, any Participant or Beneficiary who had an annuity starting date within the period during which that limitation applied to the Plan is permitted to make
                a new election (within ninety (90) after the Section 436 measurement date on which the limit ceases to apply, or, if later, thirty (30) days after receiving notice of the right to make such election) under which the form of benefit
                previously elected is modified at a new annuity starting date to be changed to a single sum payment for the remaining value of the Participant or Beneficiary’s benefit under the Plan, subject to the other rules in this Section 4.5(d)(i)(A)
                and applicable requirements of Code Section 401(a), including spousal consent.

            

       

      
        
          	
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            	(B)	
              Provision to Allow Half Single Sum Payments for Participants and Beneficiaries Who Could Not Elect Single Sums.  In addition, after the Section 436 measurement date on which the limitation on prohibited payments under Section 4.5(b)(i)
                ceases to apply to the Plan, any Participant or Beneficiary who had an annuity starting date within the period during which that limitation applied to the Plan is permitted to make a new election (within ninety (90) days after the Section
                436 measurement date on which the limit ceases to apply, or, if later, thirty (30) days after receiving notice of the right to make such election) under which the form of benefit previously elected is modified at a new annuity starting date
                to be changed to a single sum payment for the remaining value of the Participant’s or Beneficiary’s benefit under the Plan, subject to the other rules in this Section 4.5(d) (including Section 4.5(a)(i) and applicable requirements of Code
                Section 401(a), including spousal consent.

            

       

      	

            	(ii)	
              Resumption of Benefit Accruals.  If a limitation on benefit accruals under Section 4.5(b)(iii) applied to the Plan as of a Section 436 measurement date, but that limitation no longer applies to the Plan as of a later Section 436
                measurement date, then benefit accruals shall resume prospectively and that limitation does not apply to benefit accruals that are based on service on or after that later Section 436 measurement date, except as otherwise provided under the
                Plan.  The Plan shall comply with the rules relating to partial years of participation and the prohibition on double proration under Department of Labor regulation 29 CFR Section 2530.204-2(c) and (d).

            

       

      Provision to Restore Accruals.  In addition, benefit accruals that were not permitted to accrue due to the application of Section 4.5(b)(iii) shall be restored when that limitation ceases to apply
        if the continuous period of the limitation was twelve (12) months or less and the Plan’s enrolled actuary certifies that the Plan’s AFTAP for the Plan Year would not be less than sixty percent (60%) taking into account any restored benefit accruals
        for the prior Plan Year.

       

      	

            	(iii)	
              Shutdown and Other Unpredictable Contingent Event Benefits.  If an unpredictable contingent event benefit with respect to an unpredictable contingent event that occurs during the Plan Year is not permitted to be paid after the
                occurrence of the event because of the limitation of Section 4.5(b)(ii), but is permitted to be paid later in the same Plan Year (as a result of additional contributions or pursuant to the enrolled actuary’s certification of the AFTAP for
                the Plan Year that meets the requirements of Treasury Regulations Section 1.436-1(g)(5)(ii)(B)), then that unpredictable contingent event benefit shall be paid retroactive to the period that benefit would have been payable under the terms
                of the Plan (determined without regard to Section 4.5(b)(ii).  If the unpredictable contingent event benefit does not become payable during the Plan Year in accordance with the preceding sentence, then the Plan is treated as if it does not
                provide for that benefit.

            

       

      
        
          	
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            	(iv)	
              Treatment of Plan Amendments That Do Not Take Effect.  If a Plan amendment does not take effect as of the effective date of the amendment because of the limitation of Section 4.5(a)(ii) or Section 4.5(b)(iii), but is permitted to
                take effect later in the same Plan Year (as a result of additional contributions or pursuant to the enrolled actuary’s certification of the AFTAP for the Plan Year that meets the requirements of Treasury Regulations Section
                1.436-1(g)(5)(ii)(C)), then the Plan amendment must automatically take effect as of the first day of the Plan Year (or, if later, the original effective date of the amendment).  If the Plan amendment cannot take effect during the same Plan
                Year, then it shall be treated as if it were never adopted, unless the Plan amendment provides otherwise.

            

       

      	

            	(e)	
              Notice Requirement

            

       

      See Section 101(j) of ERISA for rules requiring the plan administrator of a single employer defined benefit pension plan to provide a written notice to participants and beneficiaries within thirty
        (30) days after certain specified dates if the Plan has become subject to a limitation described in Section 4.5(a)(i), Section 4.5(b) or Section 4.5(c).

       

      	

            	(f)	
              Methods to Avoid or Terminate Benefit Limitations

            

       

      See Code Section 436(b)(2), (c)(2), (e)(2), and (f) and Treasury Regulations Section 1.436-1(f) for rules relating to employer contributions and other methods to avoid or terminate the application
        of the limitations set forth in Sections 4.5(a) through Section 4.5(c) for a Plan Year.  In general, the methods an employer may use to avoid or terminate one (1) or more of the benefit limitations under Sections 4.5(a) through Section 4.5(c) for a
        Plan Year include employer contributions and elections to increase the amount of plan assets which are taken into account in determining the AFTAP, making an employer contribution that is specifically designated as a current year contribution that
        is made to avoid or terminate application of certain of the benefit limitations, or providing security to the Plan.

       

      	

            	(g)	
              Special Rules

            

       

      	

            	(i)	
              Rules of Operation for Periods prior to and after Certification of Plan’s AFTAP.

            

       

      
        
          	
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                          Article IV -

                           Plan Contributions

                        

                      

              

            

          

        

      

       

      	

            	(A)	
              In General.  Code Section 436(h) and Treasury Regulations Section 1.436-1(h) set forth a series of presumptions that apply (I) before the Plan’s enrolled actuary issues a certification of the Plan’s AFTAP for the Plan Year and (II) if
                the Plan’s enrolled actuary does not issue a certification of the Plan’s AFTAP for the Plan Year before the first day of the tenth (10th) month of the Plan
                Year (or if the Plan’s enrolled actuary issues a range certification for the Plan Year pursuant to Treasury Regulations Section 1.436-1(h)(4)(ii) but does not issue a certification of the specific AFTAP for the Plan by the last day of the
                Plan Year).  For any period during which a presumption under Code Section 436(h) and Treasury Regulations Section 1.436-1(h) applies to the Plan, the limitations under Sections 4.5(a) through Section 4.5(c) are applied to the Plan as if the
                AFTAP for the Plan Year were the presumed AFTAP determined under the rules of Code Section 436(h) and Treasury Regulations Section 1.436-1(h)(1), (2) or (3).  These presumptions are set forth in Section 4.5(g)(i)(B) through (D).

            

       

      	

            	(B)	
              Presumption of Continued Underfunding Beginning First Day of Plan Year.  If a limitation under Section 4.5(a), Section 4.5(b) or Section 4.5(c) applied to the Plan on the last day of the preceding Plan Year, then, commencing on the first
                day of the current Plan Year and continuing until the Plan’s enrolled actuary issues a certification of the AFTAP for the Plan, for the current Plan Year, or, if earlier, the date Section 4.5(g)(iii) or Section 4.5(g)(iv) applies to the
                Plan:

            

       

      	

            	(I)	
              The AFTAP of the Plan for the current Plan Year is presumed to be the AFTAP in effect on the last day of the preceding Plan Year; and

            

       

      	

            	(II)	
              The first day of the current Plan Year is a Section 436 measurement date.

            

       

      	

            	(C)	
              Presumption of Underfunding Beginning First Day of Fourth (4th) Month.  If the Plan’s enrolled actuary has not issued a certification of the AFTAP for the
                Plan Year before the first day of the fourth (4th) month of the Plan Year and the Plan’s AFTAP for the preceding Plan Year was either at least sixty percent
                (60%) but less than seventy percent (70%) or at least eighty percent (80%) but less than ninety percent (90%), or is described in Treasury Regulations Section 1.436-1(h)(2)(ii), then, commencing on the first day of the fourth (4th) month of the current Plan Year and continuing until the Plan’s enrolled actuary issues a certification of the AFTAP for the Plan for the current Plan Year,
                or, if earlier, the date Section 4.5(g)(i)(D) applies to the Plan:

            

       

      	

            	(I)	
              the AFTAP of the Plan for the current Plan Year is presumed to be the Plan’s AFTAP for the preceding Plan Year reduced by ten (10) percentage points; and

            

       

      
        
          	
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                          Article IV -

                           Plan Contributions

                        

                      

              

            

          

        

      

       

      	

            	(II)	
              the first day of the fourth (4th) month of the Plan Year is a Section 436 measurement date.

            

       

      	

            	(D)	
              Presumption of Underfunding on and after First Day of Tenth (10th) Month.  If the Plan’s enrolled actuary has not issued a certification of the AFTAP for
                the Plan Year before the first day of the tenth (10th) month of the Plan Year (or if the Plan’s enrolled actuary has issued a range certification for the Plan
                Year pursuant to Treasury Regulations Section 1.436-1(h)(4)(ii) but has not issued a certification of the specific AFTAP for the Plan by the last day of the Plan Year), then, commencing on the first day of the tenth (10th) month of the current Plan Year and continuing through the end of the Plan Year:

            

       

      	

            	(I)	
              the AFTAP of the Plan for the current Plan Year is presumed to be less than sixty percent (60%); and

            

       

      	

            	(II)	
              the first day of the tenth (10th) month of the current Plan Year is a Section 436 measurement date.

            

       

      	

            	(ii)	
              New Plans, Plan Termination, Certain Frozen Plans, and Other Special Rules.

            

       

      	

            	(A)	
              First Five (5) Plan Years.  The limitations in Section 4.5(a)(ii), Section 4.5(b)(ii), and Section 4.5(b)(iii) do not apply to a new plan for the first five (5) Plan Years, determined under the rules of Code Section 436(i) and Treasury
                Regulations Section 1.436-1(a)(3)(i).

            

       

      	

            	(B)	
              Plan Termination.  The limitations on prohibited payments in Section 4.5(a)(i), Section 4.5(b)(i), and Section 4.5(c) do not apply to prohibited payments that are made to carry out the termination of the Plan in accordance with
                applicable law.  Any other limitations under this section do not cease to apply as a result of termination of the Plan.

            

       

      	

            	(C)	
              Exception to Limitations on prohibited payments under Certain Frozen Plans.  The limitations on prohibited payments in Section 4.5(a)(i), Section 4.5(b)(i), and Section 4.5(c) do not apply for a Plan Year if the terms of the Plan, as in
                effect for the period beginning on September 1, 2005, and continuing through the end of the Plan year, provide for no benefit accruals with respect to any Participants.  This Section 4.5(g)(ii)(C) shall cease to apply as of the date any
                benefits accrue under the Plan or the date on which a Plan amendment that increases benefits takes effect.

            

       

      	

            	(D)	
              Special Rules Relating to Unpredictable Contingent Event Benefits and Plan Amendments Increasing Benefit Liability.  During any period in which none of the presumptions under Section 4.5(g)(i) applies to the Plan and the Plan’s enrolled
                actuary has not yet issued a certification of the AFTAP for the Plan Year, the limitations under Section 4.5(a)(ii) and Section 4.5(b)(ii) shall be based on the inclusive presumed AFTAP for the Plan, calculated in accordance with the rules
                of Treasury Regulations Section 1.436-1(g)(2)(iii).

            

       

      
        
          	
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                          Article IV -

                           Plan Contributions

                        

                      

              

            

          

        

      

       

      	

            	(iii)	
              Special Rules under PRA 2010.

            

       

      	

            	(A)	
              Payments under Social Security Leveling Options.  For purposes of determining whether the limitations under Section 4.5(a)(i) or Section 4.5(b)(i) apply to payments under a social security leveling option, within the meaning of Code
                Section 436(j)(3)(C)(i), the AFTAP for a Plan Year shall be determined in accordance with the “Special Rule for Certain Years” under Code Section 436(j)(3) and any Treasury Regulations or other published guidance thereunder issued by the
                Internal Revenue Service.

            

       

      	

            	(B)	
              Limitation on Benefit Accruals.  For purposes of determining whether the accrual limitation under Section 4.5(b)(iii) applies to the Plan, the AFTAP for a Plan Year shall be determined in accordance with the “Special Rule for Certain
                Years” under Code Section 436(j)(3) (except as provided under Section 203(b) of the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010, if applicable).

            

       

      	

            	(iv)	
              Interpretation of Provisions.

            

       

      The limitations imposed by this Section 4.5 shall be interpreted and administered in accordance with Code Section 436 and Treasury Regulations Section 1.436-1.

       

      	

            	(h)	
              Definitions

            

       

      The definitions in the following Treasury Regulations apply for Sections 4.5(a) through Section 4.5(g):  Section 1.436-1(j)(1) defining Adjusted Funding Target Attainment
        Percentage; Section 1.436-1(j)(2) defining annuity starting date; Section 1.436-1(j)(6) defining prohibited payment; Section 1.436-1(j)(8) defining Section 436 measurement date; and Section 1.436-1(j)(9) defining an unpredictable contingent event
        and an unpredictable contingent event benefit.

       

      “Adjusted Funding Target Attainment Percentage” for a Plan Year shall mean the fraction (expressed as a percentage) –

       

      	

            	(i)	
              The numerator of which is the Adjusted Plan Assets for the Plan Year described in Treasury Regulations Section 1.436-1(j)(1)(ii); and

            

       

      	

            	(ii)	
              The denominator of which is the adjusted funding target for the Plan Year described in Treasury Regulations Section 1.436-1(j)(1)(iii).

            

       

      “Annuity Starting Date” shall mean, as applicable –

       

      	

            	(A)	
              The first day of the first period for which an amount is payable as an annuity as described in Code Section 417(f)(2)(A)(i);

            

       

      	

            	(B)	
              In the case of a benefit not payable in the form of an annuity, the annuity starting date is the annuity starting date for the qualified joint and survivor annuity that is payable under the Plan at the same time as the benefit that is
                not payable as an annuity;

            

       

      
        
          	
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                          Article IV -

                           Plan Contributions

                        

                      

              

            

          

        

      

       

      

      	

            	(C)	
              In the case of an amount payable under a retroactive annuity starting date, the benefit commencement date (instead of the date determined under Treasury Regulations Sections 1.436-1(j)(2)(i)(A) and (B);

            

       

      	

            	(D)	
              The date of the purchase of an irrevocable commitment from an insurer to pay benefits under the Plan; and

            

       

      	

            	(E)	
              The date of any transfer to another Plan described in Treasury Regulations Section 1.436-1(j)(6)(i)(C).

            

       

      “Prohibited Payment” shall mean –

       

      	

            	(A)	
              Any payment for a month that is in excess of the monthly amount paid under a straight life annuity (plus any social security supplements described in the last sentence of Code Section 411(a)(9)) to a participant or beneficiary whose
                annuity starting date occurs during any period that a limitation under Code Section 436(d) is in effect;

            

       

      	

            	(B)	
              Any payment for the purchase of an irrevocable commitment from an insurer to pay benefits;

            

       

      	

            	(C)	
              Any transfer of assets and liabilities to another plan maintained by the same Employer (or by any member of the Employer’s controlled group) that is made in order to avoid or terminate the application of Code Section 436 benefit
                limitations; and

            

       

      	

            	(D)	
              Any other amount that is identified as a prohibited payment by the Commissioner in revenue rulings and procedures, notices, and other guidance published in the Internal Revenue Bulletin.

            

       

      “Section 436 Measurement Date” shall mean the date that is used to determine when the limitations of Code Sections 436(d) and 436(e) apply or cease to apply, and is also used for calculations with
        respect to applying the limitations of Code Sections 436(b) and (c).

       

      “Unpredictable Contingent Event Benefit” shall mean any benefit or increase in benefits to the extent the benefit or increase would not be payable but for the occurrence of an Unpredictable
        Contingent Event.  For this purpose, “Unpredictable Contingent Event” shall mean a plant shutdown (whether full or partial) or similar event, or an event (including the absence of an event) other than the attainment of any age, performance of any
        service, receipt or derivation of any compensation, or the occurrence of death or disability.

       

      
        
          	
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                            Article V -

                          

                           Eligibility Requirements

                        

                      

              

            

          

        

      

      

      ARTICLE V ‐

        ELIGIBILITY REQUIREMENTS

       

      
        	
                5.1

              	
                Participation

              

      

       

      	

            	(a)	
              Any Employee who was a participant under the provisions of the Prior Plan on the day before the Restatement Date shall become a Participant in the Plan as of the Restatement Date.

            

       

      	

            	(b)	
              Any Employee who was not enrolled as a participant under the provisions of the Prior Plan as in effect immediately prior to the Restatement Date and who is not excluded from participation in the Plan pursuant to Section 5.3 shall become
                eligible to participate in the Plan on the latest of: (i) the Restatement Date, (ii) the first day of the calendar month coincident with or next following the date as of which he shall have attained age twenty‐one (21) and completed at
                least one (1) Year of Eligibility Service, or (iii) the first day of the calendar month coincident with or next following the date he ceases to be an ineligible Employee pursuant to Section 5.3.

            

       

      	

            	(c)	
              For purposes of determining (i) if an Employee satisfied the Year of Eligibility Service requirement set forth in Section 5.1(b) and (ii) Years of Eligibility Service pursuant to Section 5.2, the following shall be deemed employment with
                the Employer:

            

       

      	

            	(A)	
              employment with an Affiliated Employer,

            

       

      	

            	(B)	
              for any Employee who was an employee of an Acquired Company on June 26, 1996 and became employed by the Employer on June 26, 1996, employment with such Acquired Company, and

            

       

      	

            	(C)	
              for any Employee who was an employee of Financial Federal on January 20, 1999 and became employed by the Employer on January 21, 1999, employment with Financial Federal.

            

       

      	

            	(d)	
              Any Employee who was employed by an Acquired Company on the date of the transaction by which such company became an Acquired Company shall be eligible to participate in the Plan on the earlier of (1) such date if he has attained age
                twenty-one (21) and completed at least one (1) Year of Eligibility Service and is not an ineligible Employee pursuant to section 5.3; or (2) such later date as he becomes eligible under this section 5.1.

            

       

      	

            	(e)	
              No Employee shall be eligible to become a Participant in the Plan on or after the Plan Freeze Date.

            

       

      
        	
                5.2

              	
                Break in Service

              

      

       

      	

            	(a)	
              "Break in Service" shall mean an Employee's Eligibility Computation Period during which he fails to complete more than five hundred (500) Hours of Service.  For purposes of determining if an Employee incurred a Break in Service, an
                Employee who is absent from employment for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such Employee but for such absence, but in no event shall more than five
                hundred one (501) Hours of Service be credited during an Eligibility Computation Period.  In any case in which the number of Hours of Service, which would otherwise have been credited, cannot be determined, eight (8) Hours of Service per
                day of absence shall be credited.  An absence from employment for maternity or paternity reasons means an absence (i) by reason of the pregnancy of the Employee, or (ii) by reason of a birth of a child of the Employee, or (iii) by reason of
                the placement of a child with the Employee in connection with the adoption of such child by such Employee, or (iv) for purposes of caring for such child for a period beginning immediately following such birth or placement.  The Hours of
                Service credited under this Section 5.2(a) shall be credited (A) in the Eligibility Computation Period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period or (B) in all other cases, in the
                following Eligibility Computation Period.

            

       

      
        
          	
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                              Article V -

                            

                             Eligibility Requirements

                          

                        

                

              

            

          

        

      

       

      	

            	(b)	
              If an Employee entitled to a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 incurs a Break in Service and is subsequently reemployed by the Employer, he shall, for purposes of computing his Years of Eligibility Service,
                receive credit for his Years of Eligibility Service prior to his Break in Service.

            

       

      	

            	(c)	
              If an Employee not entitled to a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 incurs a Break in Service and is reemployed by the Employer, he shall, for purposes of computing his Years of Eligibility Service, receive credit
                for his Years of Eligibility Service prior to his Break in Service only if the number of consecutive Breaks in Service is less than the greater of:  (i) five (5) or (ii) the aggregate number of the Years of Eligibility Service credited
                prior to the first such Break in Service; provided, however, that an Employee's pre-break Years of Eligibility Service prior to the Restatement Date shall not be recredited to the Employee if such Years of Eligibility Service were
                disregarded under the Break in Service provisions of the Prior Plan as in effect on the day immediately preceding the Restatement Date.

            

       

      
        	
                5.3

              	
                Ineligible Employees

              

      

       

      The following classes of Employees are ineligible to participate in the Plan:

       

      	

            	(a)	
              Employees compensated by the Employer on an "hourly rate" basis.

            

       

      	

            	(b)	
              All Leased Employees.

            

       

      
        	
                5.4

              	
                Enrollment

              

      

       

      Each Employee who satisfies the eligibility requirements shall become a Participant in the Plan upon satisfaction of such requirements.  However, no Participant or Employee may commence or
        recommence participation in the Plan on or after the Plan Freeze Date.

       

      
        
          	
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                                    Article V -

                                  

                                   Eligibility Requirements

                                

                              

                      

                    

                  

                

              

            

            

          

          	
                  5.5

                	
                  Reemployed Employee

                

        

         

        Prior to the Plan Freeze Date, an Employee who is reemployed following a Termination of Service and who is not excluded from participation in the Plan pursuant to Section 5.3
          shall immediately participate in the Plan as of his reemployment date if (a) at the time of his Termination of Service he satisfied the requirements for a Vested Retirement Benefit pursuant to Section 7.5 or 13.3, or (b) at the time of his
          reemployment he has satisfied the requirements of Section 5.1 and is eligible to receive credit under Section 5.2 for his prior Years of Eligibility Service.

         

        Prior to the Plan Freeze Date, any other Employee who is reemployed following a Termination of Service must satisfy the requirements of Section 5.1(b) as a new Employee.

         

      

      
        
          	
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                              Article VI -

                              Vested and Credited Service

                            

                          

                        

                

              

            

          

        

      

       

      ARTICLE VI ‐

        VESTED AND CREDITED SERVICE

       

      
        	
                6.1

              	
                Vested Service

              

      

       

      An Employee's Vested Service shall be the sum of (a) and (b) where (a) and (b) are determined as follows:

       

      	

            	(a)	
              For Employees employed prior to the Restatement Date:  An Employee shall be credited with Vested Service equal to the total number of years and any fraction thereof credited to him under the provisions of the Prior Plan.

            

       

      	

            	(b)	
              For Employees in the employment of the Employer on or after the Restatement Date:

            

       

      	

            	(i)	
              If the Employee was in the employment of the Employer on the Restatement Date, he shall be credited with Vested Service equal to his Period of Service.  An Employee's Period of Service under this Section 6.1(b)(i) shall mean the period
                commencing with the Restatement Date and ending with the first day of the month coincident with or next following the Employee's Termination of Service.

            

       

      	

            	(ii)	
              If the Employee was employed after the Restatement Date, he shall be credited with Vested Service equal to his Period of Service.  An Employee's Period of Service under this Section 6.1(b)(ii) shall mean the period commencing on the
                first day of the month in which such Employee first performs an Hour of Service and ending with the first day of the month coincident with or next following the Employee's Termination of Service.

            

       

      	

            	(iii)	
              If the Employee was employed by an Acquired Company on June 26, 1996 and became employed by the Employer on June 26, 1996, the following shall apply:

            

       

      (A)          with respect to a Merged Plan Participant:

       

      	

            	(I)	
              if such Employee was completely vested under the Merged Plan, such Employee shall be deemed completely vested under this Plan and shall be eligible for a Vested Retirement Benefit under Section 7.5.

            

       

      	

            	(II)	
              if such Employee is not described under Section 6.1(b)(iii)(A)(I), he shall be credited with Vested Service equal to the sum of:

            

       

      	

            	(1)	
              the number of completed years of service credited to such Employee as of June 26, 1996 under the provisions of the Merged Plan; plus

            

       

      	

            	(2)	
              the Period of Service commencing on June 26, 1996 and ending on the first day of the month coincident with or next following such Employee's Termination of Service.

            

       

      
        
          	
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                                Article VI -

                                Vested and Credited Service

                              

                            

                          

                  

                

              

            

          

        

      

       

      	

            	(B)	
              with respect to an Employee who was an employee of the Acquired Company on June 26, 1996 but who was not a participant in the Merged Plan on June 26, 1996, such Employee shall be credited with Vested Service equal to the Vested Service
                he would have been credited had he been a Participant under the provisions of this Plan commencing on the first day of the month in which such Employee first performed an Hour of Service with the Acquired Company, and ending on the first
                day of the month coincident with or next following such Employee's Termination of Service.

            

       

      Wherever used in the Plan, a Period of Service means the quotient obtained by dividing the days in all Periods of Service not disregarded by 365 and disregarding any fractional
        remainder.

       

      	

            	(iv)	
              Service under this Section 6.1(b) shall be subject to the Military Leave provisions of Section 1.33.

            

       

      	

            	(c)	
              Notwithstanding any other provisions of the Plan and to the extent the following service is not otherwise credited under the provisions of Section 6.1, the following terms and conditions shall apply when determining an Employee's Vested
                Service:

            

       

      	

            	(i)	
              Subsequent to October 1, 1976, a period during which an Employee was not employed by the Employer shall nevertheless be deemed to be a period of Vested Service if such Employee incurred a Termination of Service and

            

       

      	

            	(A)	
              such Termination of Service was the result of resignation, discharge or retirement, other than a resignation, discharge or retirement that occurred when the Employee was otherwise absent for less than one (1) year, and such Employee is
                reemployed by the Employer within one (1) year after such Termination of Service; or

            

       

      	

            	(B)	
              such Termination of Service was the result of resignation, discharge or retirement and occurred when the Employee was otherwise absent for less than one (1) year and he was reemployed by the Employer within one (1) year after the date
                such absence began.

            

       

      	

            	(ii)	
              Notwithstanding the provisions of Section 6.1(c)(i) and subsequent to October 1, 1985, Vested Service shall not include any portion of an absence for maternity or paternity reasons set forth in Section 5.2(a) that occurs after the first
                anniversary of the commencement of such absence.

            

       

      	

            	(iii)	
              A Participant who, at the time of his Termination of Service satisfied the requirements for a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 and who is subsequently reemployed by the Employer, shall upon his reemployment be
                credited with his Vested Service prior to such termination.

            

       

      	

            	(iv)	
              A Participant who incurs a One Year Period of Severance without fulfilling the requirements for a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 and who subsequently performs an Hour of Service with the Employer, shall be
                credited with his Vested Service prior to such severance only if the total Period of Severance (expressed in years and any fraction thereof) is less than the greater of: (A) five (5) years or (B) the aggregate total number of years and any
                fraction thereof of his Vested Service prior to such severance; provided, however, that an Employee's Vested Service prior to the Restatement Date shall not be recredited to the Participant if such Vested Service was disregarded under the
                break in service provisions of the Prior Plan as in effect on the day immediately preceding the Restatement Date.

            

       

      
        
          	
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                                Article VI -

                                Vested and Credited Service

                              

                            

                          

                  

                

              

            

          

        

      

       

      	

            	(v)	
              Affiliated Service shall be deemed to be employment by the Employer.

            

       

      	

            	(vi)	
              Employment by any Former Participating Employer subsequent to the termination or withdrawal of its Plan from the Trust shall not be considered Vested Service with a Participating Employer for purposes of the Plan.

            

       

      	

            	(vii)	
              The period of Vested Service of any individual who was employed by an Acquired Company on the date of the transaction by which such company became an Acquired Company shall include service recognized for purposes of vesting under the
                Merged Plan of such Acquired Company.

            

       

      	

            	(viii)	
              If the Employee was employed by Financial Federal on January 20, 1999 and became employed by the Employer on January 21, 1999, employment with Financial Federal shall be deemed employment with the Employer.

            

       

      
        	
                6.2

              	
                Credited Service

              

      

       

      A Participant's Credited Service shall be the sum of (a) and (b) where (a) and (b) are determined as follows:

       

      	

            	(a)	
              For Employees employed prior to the Restatement Date, the total number of years and any fraction thereof credited to the Participant under the provisions of the Prior Plan.

            

       

      	

            	(b)	
              Subject to the Military Leave provisions of Section 1.33, for Employees in the employment of the Employer on or after the Restatement Date, the total Period of Service (expressed in years and any fraction thereof) commencing with the
                later of:  (i) the Restatement Date or (ii) the date the Employee is eligible to participate in the Plan pursuant to Section 5.1.

            

       

      	

            	(c)	
              Notwithstanding any other provisions of the Plan and to the extent the following service is not otherwise credited under the provisions of Section 6.2, the following terms and conditions shall apply when determining a Participant's
                Credited Service:

            

       

      	

            	(i)	
              Subsequent to October 1, 1976 and the Participant's attainment of age twenty‐five (25), and subject to the provisions of the Prior Plan, a Participant shall receive up to a maximum of one (1) year of Credited Service for employment by
                the Employer which preceded his eligibility to participate.  Notwithstanding the foregoing, in no event shall an Employee who was in the employment of the Employer on October 1, 1988, who (A) was not enrolled as a Participant under the
                provisions of the Plan as in effect on September 30, 1988 solely because he had attained age sixty (60) at the time of his employment with the Employer and (B) was not otherwise excluded from participation in the Plan pursuant to Section
                5.3, and who became a participant in the Prior Plan on the later of: (I) October 1, 1988 or (II) the first day of the calendar month coincident with or next following the date he first completed one (1) Year of Eligibility Service, receive
                Credited Service for employment by the Employer which precedes October 1, 1988.

            

       

      
        
          	
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                                Vested and Credited Service

                              

                            

                          

                  

                

              

            

          

        

      

       

      	

            	(ii)	
              A Participant shall not receive Credited Service for any year or fraction thereof during which he was ineligible to participate pursuant to Section 5.3.

            

       

      	

            	(iii)	
              Subject to the provisions of Section 9.13, a Participant who, at the time of a One Year Period of Severance satisfied the requirements for a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 and is subsequently reemployed by the
                Employer, shall upon his reemployment be credited with his Credited Service prior to such One Year Period of Severance with the Employer.

            

       

      	

            	(iv)	
              A Participant who incurs a One Year Period of Severance without fulfilling the requirements for a Vested Retirement Benefit pursuant to Section 7.5 or 13.3 and who subsequently performs an Hour of Service with the Employer, shall,
                subject to the provisions of Section 9.13, be credited with his Credited Service prior to such severance only if the total Period of Severance (expressed in years and any fraction thereof) is less than the greater of:  (A) five (5) years or
                (B) the aggregate total number of years and any fraction thereof of his Vested Service prior to such severance; provided, however, that a Participant's Credited Service prior to the Restatement Date shall not be recredited to the
                Participant if such Credited Service was disregarded under the break in service provisions of the Prior Plan as in effect on the day immediately preceding the Restatement Date.

            

       

      	

            	(v)	
              Affiliated Service shall be deemed to be employment by the Employer.

            

       

      	

            	(vi)	
              Notwithstanding the foregoing provisions of Section 6.2(c) and subsequent to October 1, 1985, Credited Service shall not include any portion of an absence for maternity or paternity reasons set forth in Section 5.2(a) that occurs after
                the first anniversary of the commencement of such absence.

            

       

      	

            	(vii)	
              For purposes of determining the Credited Service of a Merged Plan Participant, service with the Acquired Company prior to June 26, 1996 shall not be included in determining years of Credited Service under the Plan.

            

       

      	

            	(viii)	
              In no event shall a Financial Federal Plan Participant receive Credited Service for employment with Financial Federal or the Employer prior to February 8, 1999.

            

       

      	

            	(d)	
              Notwithstanding any other provisions of Section 6.2, a Participant shall not accrue Credited Service for any year or fraction thereof completed after the Plan Freeze Date.

            

       

      
        
          	
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                              Article VII -

                               Benefits

                            

                          

                  

                

              

            

          

        

      

       

      ARTICLE VII ‐

        BENEFITS

       

      
        	
                7.1

              	
                General

              

      

       

      Unless the context clearly indicates otherwise, the Retirement Benefits set forth in this Article VII are determined on the basis of a Straight Life Annuity.  However, in the case
        of a Merged Plan Participant who becomes a Participant in the Plan, the Merged Plan Benefit set forth in this Article VII is determined on the basis of a Straight Life Annuity by converting the Merged Plan Benefit from a Sixty Month Period Certain
        and Life Benefit.  A normal form of benefit other than a Straight Life Annuity may result in a violation of the limitations imposed by Code Section 415.

       

      
        	
                7.2

              	
                Normal Retirement Benefit

              

      

       

      	

            	(a)	
              A Participant's right to his Accrued Benefit shall be fully vested at his Normal Retirement Age and, subject to the provisions of Section 9.13, such Participant shall be entitled to the payment of a Normal Retirement Benefit commencing
                on his Normal Retirement Date.

            

       

      	

            	(b)	
              The annual Normal Retirement Benefit shall be equal to 2% of the Participant's Average Annual Earnings multiplied by the number of years and any fraction thereof of his Credited Service.  A Participant's annual benefit attributable to
                Employer contributions shall be limited to 60% of his Average Annual Earnings.

            

       

      	

            	(c)	
              Notwithstanding the above, in the case of a Merged Plan Participant, such Participant’s annual Normal Retirement Benefit shall be equal to:

            

       

      	

            	(i)	
              the Participant’s Normal Retirement Benefit calculated in accordance with the above formula counting only that Credited Service accrued on and after June 26, 1996; plus

            

       

      	

            	(ii)	
              the Participant’s Merged Plan Benefit accrued up to June 26, 1996 calculated as follows:

            

       

      The "Allowance Formula" shall be calculated as set forth below:

       

      2% of the Participant’s "average compensation", multiplied by "creditable service" up to June 26, 1996 (not to exceed thirty-five (35) years), plus

       

      1-1/2% of the Participant’s "average compensation", multiplied by "creditable service, " up to June 26, 1996, in excess of thirty-five (35) years (not to exceed forty (40)
        years);

       

      The "Allowance Formula," calculated above, shall be reduced by the "Maximum Offset Allowance" set forth below:

       

      .49% of the Participant’s "final average compensation" (up to "covered compensation") multiplied by "creditable service" up to June 26, 1996 (not to exceed thirty-five (35)
        years).  The offset under the preceding sentence for any year of “creditable service” shall not exceed one-half of the "employer" derived benefit, prior to the application of the offset with respect to the Participant’s "average compensation", not
        in excess of the Participant’s "final average compensation" up to "covered compensation".

       

      
        
          	
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      For purposes of subsection (ii), above, the terms "average compensation," "creditable service," "final average compensation," "employer" and "covered compensation" shall have the
        meanings given such terms under the provisions of the Merged Plan.

       

      	

            	(d)	
              Notwithstanding anything above to the contrary, the Normal Retirement Benefit of a Financial Federal Participant shall be equal to the Financial Federal Plan Benefit plus the annual Normal Retirement Benefit as determined in accordance
                with the second paragraph of this Section 7.2.

            

       

      	

            	(e)	
              Notwithstanding the foregoing, a Participant's Normal Retirement Benefit shall not be less than the greater of (a) the greatest Early Retirement Benefit which the Participant would have been entitled to receive had he retired at an
                earlier date, or (b) the benefit preserved under Section 14.4.

            

       

      
        	
                7.3

              	
                Postponed Retirement Benefit

              

      

       

      	

            	(a)	
              Subject to the provisions of Section 9.13, a Participant in the employment of the Employer beyond his Normal Retirement Date shall be entitled to the payment of a Postponed Retirement Benefit commencing on his Postponed Retirement Date.

            

       

      	

            	(b)	
              The annual Postponed Retirement Benefit shall be calculated in the same manner as the annual Normal Retirement Benefit determined in accordance with Section 7.2.  Subject to the provisions of Section 9.13 and subject to the limitations
                of Section 6.2, Compensation and Credited Service accrued by the Participant prior to his Postponed Retirement Date shall be used to compute his Postponed Retirement Benefit.

            

       

      Notwithstanding the preceding paragraphs, in the event the Employer does not provide notice of a suspension of benefits in accordance with Section 9.13(b) to (i) a Retired
        Participant receiving benefits who is reemployed by the Employer or an Affiliated Employer which is a Participating Employer, or (ii) a Participant who continues in the employment of the Employer or an Affiliated Employer which is a Participating
        Employer beyond his Normal Retirement Date, the annual Postponed Retirement Benefit shall be the greater of:

       

      	

            	(A)	
              The annual Postponed Retirement Benefit calculated in the same manner as the annual Normal Retirement Benefit determined in accordance with Sections 7.2 (b), (c), (d) or (e).  Subject to the limitations of Section 6.2, Compensation and
                Credited Service accrued by the Participant prior to his Postponed Retirement Date and prior to the Plan Freeze Date shall be used to compute his Postponed
                Retirement Benefit; or

            

       

      	

            	(B)	
              the Actuarial Equivalent of the annual benefit that would have been payable at the Participant’s Normal Retirement Date, adjusted to the Participant’s Postponed Retirement Date.

            

       

      
        
          	
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                                 Benefits

                              

                            

                    

                  

                

              

            

          

        

      

       

      If as a result of actuarial increases to the benefit of a Participant who delays commencement of benefits beyond his Normal Retirement Date, the Accrued Benefit of such
        Participant would exceed the Code Section 415 limitations under Section 8.1 for such year, immediately before the actuarial increase to the Participant’s benefit would cause his benefit to exceed such limitations, distribution of his benefit will
        commence.

       

      	

            	(c)	
              Notwithstanding the foregoing, the Postponed Retirement Benefit for a Participant whose Postponed Retirement Date occurs after the date he attains the age of seventy and one-half (70-1/2) shall not be less than the Actuarial Equivalent
                of the Postponed Retirement Benefit that would have been payable if benefit payments had begun on the date the Participant attained the age of seventy and one-half (70-1/2).

            

       

      
        	
                7.4

              	
                Early Retirement Benefit

              

      

       

      
         

      

      
        
          	 	
                  (a)

                	
                  (1)        A Merged Plan Participant whose Early Retirement Benefit is determined in accordance with Section 7.4(f)(i)(A) shall be eligible for such Early Retirement Benefit provided at the time of his Termination of Service he has
                    attained age fifty-five (55).

                

        

      

       

      

      	

            	(2)	
              A Financial Federal Participant whose Early Retirement Benefit is determined in accordance with Section 7.4(i), shall be eligible for such Early Retirement Benefit provided at the time of his Termination of Service he has attained age
                forty-five (45).

            

       

      	

            	(b)	
              Each other Participant who at the time of his Termination of Service has a minimum of five (5) consecutive years of Credited Service with the Employer shall be eligible for an Early Retirement Benefit provided: (a) he has attained age
                sixty (60), or (b) he has completed thirty (30) or more years of Vested Service with the Employer and any other Participating Employer (including any service recognized for early retirement benefit eligibility purposes under the plan of a
                Former Participating Employer prior to the termination or withdrawal of its plan in the Trust).

            

       

      	

            	(c)	
              In addition, any Participant under subsections (a)(1) and (b) above, shall also be eligible for an Early Retirement Benefit if:

            

       

      	

            	(i)	
              on or prior to July 31, 1998, the sum of his attained age and Vested Service with the Employer and any other Participating Employer (including any service recognized for early retirement benefit eligibility purposes under the plan of a
                Former Participating Employer prior to the termination or withdrawal of its plan in the Trust) equals or exceeds seventy (70),

            

       

      	

            	(ii)	
              such Participant’s Compensation is equal to or less than the limitation as prescribed under 401(a)(17) of the Code, as defined under Section 1.10,

            

       

      	

            	(iii)	
              such Participant elects between June 5, 1998 and July 31, 1998, to receive, commencing August 1, 1998, an unreduced Early Retirement Benefit,

            

       

      	

            	(iv)	
              such Participant executes and delivers a release and waiver of claims against the Employer in such form as prescribed by the Plan Administrator and acceptable to the Plan Administrator and at such time as is specified by the Plan
                Administrator, and

            

       

      
        
          	
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            	(v)	
              such Participant has a Termination of Service date of July 31, 1998.

            

       

      	

            	(d)	
              With respect to Merged Plan Participants, the annual Early Retirement Benefit shall be determined in accordance with the provisions of Section 7.4(f)(i).  With respect to all other Participants, the annual Early Retirement Benefit shall
                be determined in accordance with the provisions of Section 7.2(b) but shall recognize only that Compensation and Credited Service accrued by the Participant prior to his Termination of Service.

            

       

      	

            	(e)	
              The Early Retirement Benefit shall be a deferred benefit commencing upon the Participant's Normal Retirement Date.  A Participant who is eligible to receive an Early Retirement Benefit may elect, however, to have such benefit commence
                prior to his Normal Retirement Date on the first day of any calendar month coincident with or next following his Termination of Service.

            

       

      	

            	(f)	
              When a Participant's Early Retirement Benefit commences prior to his Normal Retirement Date, the annual benefit payable to such Participant shall be equal to the following:

            

       

      	

            	(i)	
              With respect to a Merged Plan Participant, the sum of (A) and (B), where (A) and (B) are determined as follows:

            

       

      	

            	(A)	
              The Merged Plan Participant’s accrued benefit determined as of June 26, 1996, calculated in accordance with 7.2(c)(ii), above, reduced as follows:

            

       

      	

            	(I)	
              The "Allowance Formula" shall be reduced by two percent (2%) for each year by which the commencement date of his Early Retirement Benefit precedes his Normal Retirement Date; and

            

       

      	

            	(II)	
              The "Maximum Offset Allowance" shall be reduced by six percent (6%) for each year by which the commencement date of his Early Retirement Benefit precedes his Normal Retirement Date.  The amount of the Offset shall not exceed the maximum
                offset otherwise allowable under the Merged Plan, prior to the Plan Year beginning in 1989, multiplied by the following fraction (not to exceed one (1)):

            

       

      
        	
                 

              	Actual years of service at retirement or severance	
                 

              
	
                 

              	
                Total years of service at "Social Security

              	
                 

              
	
                 

              	
                Retirement Age"

              	
                 

              

      

       

      

      and further reduced by 1/15 for each of the first five years and 1/30 for each of the next five years by which the starting date of such benefit precedes the Participant’s Social
        Security Retirement Age and reduced actuarially thereafter for each additional year.  Only the actual reduction (1/15, 1/30) is required if the offset assumes no wages, for purposes of the Social Security Act, after retirement or severance.

       

      
        
          	
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                                   Benefits

                                

                              

                      

                    

                  

                

              

            

          

        

      

       

      

      For purposes of this Section 7.4(f), the term “Social Security Retirement Age” shall mean age sixty-five (65) with respect to a Participant who was born before January 1, 1938;
        age sixty-six (66) with respect to a Participant who was born after December 31, 1937 and before January 1, 1955; and age 67 with respect to a Participant who was born after December 31, 1954.

       

      plus:

       

      	

            	(B)	
              Solely with respect to the benefit accrued after June 26, 1996, the Actuarial Equivalent of the Early Retirement Benefit that would have been payable to the Merged Plan Participant, determined in accordance with Section 7.2(c)(i) as of
                such Participant’s Termination of Service, if benefit payments were deferred to his Normal Retirement Date.

            

       

      	

            	(ii)	
              With respect to each other Participant, the Actuarial Equivalent of the Early Retirement Benefit that would have been payable if benefit payments were deferred to his Normal Retirement Date.

            

       

      	

            	(g)	
              In no event, however, shall the annual Early Retirement Benefit determined under Section 7.4(f)(i)(B) or Section 7.4(f)(ii), above, exceed two percent (2%) of a Participant's Average Annual Earnings multiplied by the number of years and
                any fraction thereof of his Credited Service up to a maximum of thirty (30) years.

            

       

      	

            	(h)	
              Notwithstanding the provisions of Section 7.4(f) above, the annual benefit payable to a Participant who satisfies the eligibility requirements set forth in Section 7.4(c) above, shall be equal to the Early Retirement Benefit deferred to
                his Normal Retirement Date and such Early Retirement Benefit shall commence on August 1, 1998.

            

       

      	

            	(i)	
              With respect to a Financial Federal Participant, the annual Early Retirement Benefit shall be equal to the normal Financial Federal Plan Benefit, plus the annual Normal Retirement Benefit as determined in accordance with Section 7.2(b)
                above, provided that only Compensation and Credited Service accrued by the Participant prior to his Termination of Service shall be used to compute his Early Retirement Benefit.

            

       

      	

            	(j)	
              Notwithstanding the foregoing, the Early Retirement Benefit for a Participant shall not be less than the benefit preserved under Section 14.4.

            

       

      
        	
                7.5

              	
                Vested Retirement Benefit

              

      

       

      A Participant who at the time of his Termination of Service (for reasons other than death) has completed at least five (5) years of Vested Service shall be eligible for a Vested
        Retirement Benefit.  Vested Service shall not include that portion of an Employee's Period of Service with the Employer which is prior to the Employee's attainment of age eighteen (18).

       

      
        
          	
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                                   Benefits

                                

                              

                      

                    

                  

                

              

            

          

        

      

       

      Notwithstanding the above paragraph, in no event shall the vested percentage of a Merged Plan Participant’s benefits be less than the applicable percentage determined in
        accordance with the following schedule, including all service recognized for vesting purposes under the Merged Plan:

       

      	
              Years of Vested Service

            	
              Nonforfeitable Percentage

            
	
              Less than   3

            	
              0

            
	
              3

            	
              20

            
	
              4

            	
              40

            
	
              5

            	
              60

            
	
              6

            	
              80

            
	
              7

            	
              100

            

       

      The Vested Retirement Benefit shall commence on a Participant's Normal Retirement Date and shall be calculated in the same manner as an Early Retirement Benefit with payment
        deferred to his Normal Retirement Date.

       

      A Participant who meets the requirements for a Vested Retirement Benefit and who meets the requirements for commencement of an Early Retirement Benefit may elect to have his
        Vested Retirement Benefit commence prior to his Normal Retirement Date.  The benefit payable at such earlier date shall commence on the first day of any calendar month coincident with or next following the earliest date on which he would be
        eligible to receive an Early Retirement Benefit under the provisions of the Plan in effect on the date the Participant incurs a Termination of Service.

       

      For purposes of determining eligibility for an Early Retirement Benefit under the fourth paragraph of this Section 7.5, only the Participant's Vested Service at the time of his
        Termination of Service and his attained age at the commencement of benefit payments shall be considered.  The benefit payable at such earlier date shall be the Actuarial Equivalent of the Vested Retirement Benefit that would have been payable if
        benefit payments were deferred to his Normal Retirement Date.  However, in the case of a Merged Plan Participant, the benefit payable at such earlier date shall be reduced, instead, in accordance with the Early Retirement Benefit provisions of
        Section 7.4.

       

      Notwithstanding the foregoing, the Vested Retirement Benefit for a Participant shall not be less than the benefit preserved under Section 14.4.

       

      
        	
                7.6

              	
                Disability Coordination Benefit

              

      

       

      	(a)	
              A Participant who (i) becomes disabled prior to his Normal Retirement Date (ii) has completed at least ten (10) years of Vested Service determined pursuant to Section 6.1 and (iii) is eligible to receive benefits under the Employer's
                long-term disability program, shall have such period of disability considered in determining Vested Service under Section 6.1 and Credited Service under Section 6.2.

            

       

      A Participant who is no longer eligible to receive benefits under the Employer's long-term disability program for reasons other than death and who is not reemployed by the
        Employer, may apply for an Early Retirement Benefit or Vested Retirement Benefit, if applicable, under the provisions of the Plan as in effect on the date the Participant incurs a Termination of Service.

       

      
        
          	
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      	(b)	
              Special Provision for Merged Plan Participants:

            

       

      	

            	(i)	
              A Merged Plan Participant who commenced receiving a "disability retirement allowance" in accordance with the provisions of the Merged Plan prior to June 26, 1996, shall continue to receive such "disability retirement allowance" under the
                terms and conditions of such Merged Plan.

            

       

      	

            	(ii)	
              Any other Merged Plan Participant who was deemed to be disabled under the terms of the Merged Plan, prior to June 26, 1996, and had been in receipt of disability benefits under the Social Security Act and under any long-term disability
                income plan sponsored by the Acquired Company shall, if payments under such long-term disability plan cease for reasons other than death on or after his fifty-fifth (55th) birthday, and he is not reemployed by the Employer, be entitled to apply for a Normal Retirement Benefit, an Early Retirement Benefit or Vested Retirement Benefit, if applicable,
                under the provisions of the Merged Plan and the Plan.  Such benefit will be based on his "average compensation" under the Merged Plan and creditable service under (i) the Merged Plan and (ii) the Plan commencing June 26, 1996, including
                service up to the date he ceased receiving Social Security disability benefits and benefits under the long-term disability income plan of the Acquired Company and on the basis of the benefit formula as in effect under the Merged Plan on the
                date the Participant left the active service of such Acquired Company.  If such individual’s long-term disability benefits continue to what would have been the commencement date of his "disability retirement allowance" under the Merged
                Plan, he shall receive (i) his Merged Plan Benefit as of June 26, 1996, plus (ii) an additional benefit based on Credited Service under the Plan pursuant to 7.6(a).  If such individual’s benefits under the long-term disability plan of the
                Acquired Company cease prior to his fifty-fifth (55th) birthday, such Participant, if he promptly becomes employed by the Employer, shall become an active Participant in the Plan as of his reemployment date.  If he does not so return, he
                shall be deemed to have terminated employment on the date such payments cease.

            

       

      	

            	(iii)	
              In the case of any Merged Plan Participant who is deemed to be disabled on or after June 26, 1996, the provisions of Section 7.6(a), above, shall apply; provided, however, that his benefit under Section 7.6(a) shall be comprised of (i)
                his Merged Plan Benefit as of June 26, 1996, plus (ii) an additional benefit based on Credited Service under the Plan pursuant to Section 7.6(a).

            

       

      The Eligible Beneficiaries of an Eligible Participant who is no longer eligible to receive benefits under the Employer's long-term disability program for the reason of death, may
        be entitled to receive a Preretirement Survivor Annuity under the provisions of the Plan as in effect on the date the Participant incurs a Termination of Service.

       

      This Section 7.6 shall be construed and administered to comply with the requirements of the Americans with Disabilities Act of 1990 and any applicable regulations promulgated
        thereunder.

       

      
        
          	
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                7.7

              	
                Death Benefits

              

      

       

      The following benefits shall be paid automatically upon the death of a Participant, other than with respect to a Participant who has received In-Service Distributions pursuant to Section 9.14:

       

      	

            	(a)	
              Preretirement Survivor Annuity

            

       

      	

            	(i)	
              The Eligible Beneficiaries of an Eligible Participant shall be entitled to receive a monthly Preretirement Survivor Annuity.

            

       

      For purposes of this Section 7.7(a) the following definitions shall apply:

       

      "Eligible Beneficiaries" shall mean:

       

      	

            	(A)	
              Surviving Spouse - a spouse to whom the Participant was legally married for at least one (1) year and which marriage had not been dissolved by formal divorce proceeding at time of his death.

            

       

      	

            	(B)	
              Eligible Children - any natural child or children of the Participant or any child or children legally adopted by the Participant at least one (1) year prior to the Participant’s death who have not attained the age of twenty-one (21) at
                the time of the Participant's death.

            

       

      "Eligible Participant" shall mean a Participant who at the time of his death was employed by the Employer and (I) attained age sixty (60) or (II) the sum of whose attained age
        and Vested Service consisting of (1) Vested Service determined pursuant to Section 6.1 and (2) service with any other Participating Employer or Former Participating Employer (including any service recognized for preretirement survivor benefit
        eligibility purposes under the plan of a Former Participating Employer prior to the termination or withdrawal of its plan in the Trust) equals or exceeds sixty-five (65) years.

       

      	

            	(ii)	
              Upon the death of an Eligible Participant, a monthly Preretirement Survivor Annuity shall be paid to and for the life of the Surviving Spouse.  If there is no such Surviving Spouse at the time of the Participant's death or if the
                Surviving Spouse subsequently dies, the monthly benefit shall be divided equally among, and paid to, Eligible Children who at the date of any such payment shall have not yet attained the age of twenty-one (21).  The Preretirement Survivor
                Annuity shall be paid as follows:

            

       

      	

            	(A)	
              The monthly Preretirement Survivor Annuity payments to the Surviving Spouse shall commence on the first day of the calendar month coincident with or next following the later of the date of the Eligible Participant's death and the date on
                which the Eligible Participant would have attained his Normal Retirement Age, if he had lived.  Such benefit shall be equal to the Normal Retirement Benefit, Postponed Retirement Benefit, Early Retirement Benefit deferred to the Eligible
                Participant's Normal Retirement Date or Vested Retirement Benefit deferred to the Eligible Participant's Normal Retirement Date that would have been provided under the Plan had the Eligible Participant retired on the date of his death.  In
                calculating the amount of such benefit, it will be assumed that the Eligible Participant had effectively elected on the date of his death to receive a 100% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary.

            

       

      
        
          	
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                                  Article VII -

                                   Benefits

                                

                              

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(B)	
              Notwithstanding Section 7.7(a)(ii)(A), an Eligible Participant's Surviving Spouse may elect that payment of the monthly Preretirement Survivor Annuity shall commence on the first day of the calendar month coincident with or next
                following the date of the Eligible Participant's death.  In calculating the amount of such benefit it will be assumed that the Plan provisions permitted early retirement as early as the date of the Eligible Participant's death, and the
                Eligible Participant had effectively elected on the date of his death to receive an immediate 100% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary.

            

       

      	

            	(C)	
              If (I) the Eligible Participant has a Surviving Spouse and Eligible Children on the date of his death, (II) payments to the Surviving Spouse have commenced, (III) the Surviving Spouse dies and (IV) there are Eligible Children who have
                not attained age twenty-one (21) at the time of the Surviving Spouse's death, the same monthly Preretirement Survivor Annuity that was payable to the Surviving Spouse shall continue to be paid to such Eligible Children until the youngest
                child attains age twenty-one (21).  Such benefit shall commence on the first day of the calendar month coincident with or next following the date of the Surviving Spouse's death and shall be divided equally among, and paid to, the Eligible
                Children who, on the date of such payment, shall not have attained age twenty-one (21).

            

       

      	

            	(D)	
              If (I) the Eligible Participant has a Surviving Spouse and Eligible Children on the date of his death, (II) payments to the Surviving Spouse are deferred until the Eligible Participant would have attained his Normal Retirement Age, (III)
                the Surviving Spouse dies prior to the commencement of benefit payments and (IV) there are Eligible Children who have not attained age twenty-one (21) at the time of the Surviving Spouse's death, a monthly Preretirement Survivor Annuity
                shall be payable to such Eligible Children.  Such benefit shall commence on the first day of the calendar month coincident with or next following the date of the Surviving Spouse's death and shall be divided equally among, and paid to, the
                Eligible Children who, on the date of such payment, shall not have attained age twenty-one (21).  The benefit will be calculated assuming that the Eligible Participant had effectively elected on his date of death to receive a 100% Joint and
                Survivor Benefit with his Surviving Spouse as his Beneficiary with payments to commence on the date of his Surviving Spouse's death and to continue until the youngest child attains age twenty-one (21) and the Plan provisions permitted early
                retirement as early as the date of the Surviving Spouse's death.

            

       

      
        
          	
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                                   Benefits

                                

                              

                      

                    

                  

                

              

            

          

        

      

      

      

      	

            	(E)	
              If the Eligible Participant has no Surviving Spouse on the date of his death but is survived by Eligible Children, a monthly Preretirement Survivor Annuity shall be payable to such Eligible Children with payments to continue until the
                youngest child attains age twenty-one (21).  Such benefit shall commence on the first day of the calendar month coincident with or next following the Eligible Participant's death and shall be divided equally among, and paid to, the Eligible
                Children who, on the date of such payment, shall not have attained age twenty-one (21).  The benefit shall be calculated assuming that (I) the Eligible Participant had effectively elected on his date of death to receive a 100% Joint and
                Survivor Benefit with the designated Beneficiary thereunder being a person of the opposite sex with the same date of birth as the Eligible Participant, (II) the Eligible Participant had not chosen a deferred payment and (III) the Plan
                provisions permitted early retirement as early as the date of the Eligible Participant's death.

            

       

      
        
          	

                	(iii)          	(A)          	If a Participant not eligible for a benefit under Section 7.7(a)(i), satisfied the requirements for a Vested Retirement Benefit under Section 7.5 and dies while in the
                  employ of the Employer he shall, if he has a Surviving Spouse as defined under Section 7.7(a)(i), be deemed to have chosen to have had his benefit commence on his Normal Retirement Date.  Such benefit shall be equal to the same benefit
                  that would have been payable to the Surviving Spouse if the Participant (I) incurred a Termination of Service on the date of his death, (II) survived to his Normal Retirement Date, (III) elected to receive a 50% Joint and Survivor
                  Benefit, commencing on his Normal Retirement Date, with his Surviving Spouse as his Beneficiary and (IV) died on the day immediately after his Normal Retirement Date.

        

      

       

      	

            	(B)	
              Notwithstanding the immediately preceding paragraph, the Surviving Spouse of a Participant may elect that the Preretirement Survivor Annuity payable under this Section 7.7(a)(iii) shall commence on the earliest date following the
                Participant's death on which an Early Retirement Benefit could have commenced.  Such benefit shall be equal to the same benefit that would have been payable to the Surviving Spouse if the Participant (I) incurred a Termination of Service on
                the date of his death, (II) survived to the earliest date on which he would have been eligible for an Early Retirement Benefit under the Plan based on his Vested Service and age at his date of death, (III) elected to receive a 50% Joint and
                Survivor Benefit, commencing on such date, with his Surviving Spouse as his Beneficiary and (IV) died on the day immediately after the earliest date on which he would have been eligible for an Early Retirement Benefit.

            

       

      
        
          	
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                                   Benefits

                                

                              

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(b)	
              Post Termination Survivor Annuity

            

       

      	

            	(i)	
              A Participant who is eligible for an Early Retirement Benefit, a Normal Retirement Benefit or a Postponed Retirement Benefit upon his Termination of Service with the Employer and dies prior to the earliest of:  (A) sixty (60) days
                following his Termination of Service, (B) the date benefit payments commence, or (C) the effective date of any benefit election, shall be deemed not to have retired and a Preretirement Survivor Annuity shall be payable as though his death
                had occurred at the time of his Termination of Service.

            

       

      	

            	(ii)	
              A Participant who is eligible for an Early Retirement Benefit, a Normal Retirement Benefit or a Postponed Retirement Benefit and who has not elected to receive a lump sum benefit, if applicable, under the provisions of Section 9.7 and
                who dies (A) more than sixty (60) days following his Termination of Service with the Employer and (B) prior to the earlier of:  (I) the date benefit payments commence or (II) the effective date of any benefit election shall, if he has a
                Surviving Spouse (as defined under Section 7.7(a)(i)), be deemed to have chosen to have benefits commence (1) if the Participant was eligible for an Early Retirement Benefit or a Normal Retirement Benefit, on his Normal Retirement Date or,
                if earlier, on the commencement date specified in any benefit election that is in effect on the date of his death or (2) if the Participant was eligible for a Postponed Retirement Benefit, on his Postponed Retirement Date, and be deemed to
                have elected a 50% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary.  Notwithstanding the foregoing, the Participant's Surviving Spouse may elect to have benefits commence on the date of the Participant's death in
                which case the Participant shall be deemed to have chosen to have benefits commence on such date and to have elected a 50% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary.

            

       

      	

            	(iii)	
              If a Participant has not satisfied the eligibility requirements for an Early Retirement Benefit and has not elected a lump sum benefit, if applicable, described in Section 9.7 but (A) incurred a Termination of Service while entitled to a
                Vested Retirement Benefit under Section 7.5 or 13.3 and (B) dies prior to the date his benefit payments are scheduled to commence, he shall, if he has a Surviving Spouse as defined under Section 7.7(a)(i), be deemed to have elected to
                receive a 50% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary and chosen to have had his benefit commence on his Normal Retirement Date; provided, however that the Participant's Surviving Spouse as defined under
                Section 7.7(a)(i) may elect to have benefits commence on the earliest date following his death on which an Early Retirement Benefit could have commenced under the provisions of the Plan as in effect on the date the Participant incurs a
                Termination of Service and the benefit paid to such Surviving Spouse shall be determined as if the Participant had elected to receive a 50% Joint and Survivor Benefit with his Surviving Spouse as his Beneficiary and had chosen to have
                benefits commence as of the date elected by the Surviving Spouse.

            

       

      
        
          	
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                                    Article VIII -

                                     Limitations and Restrictions on Benefits

                                  

                                

                              

                      

                    

                  

                

              

            

          

        

      

       

      ARTICLE VIII ‐

        LIMITATIONS AND RESTRICTIONS ON BENEFITS

       

      
        	
                8.1

              	
                Section 415 Limitations on Benefits

              

      

       

      	

            	A.	
              The limitations of this Section 8.1A. shall apply to Limitations Years

                commencing prior to July 1, 2007.

            

       

      For purposes of this Section 8.1A., the following words and phrases shall have the meanings hereafter ascribed to them:

       

      	

            	(a)	
              Definitions.

            

       

      	

            	(i)	
              "Annual Additions" shall mean the sum of the following amounts credited to a Participant's account or accounts during the Limitation Year:

            

       

      	

            	(A)	
              Employer contributions,

            

       

      	

            	(B)	
              Employee contributions, if any,

            

       

      	

            	(C)	
              all forfeitures,

            

       

      	

            	(D)	
              (I) amounts allocated after March 31, 1984 to an individual medical account, as defined in Section 415(l)(2) of the Code, that is part of a pension or annuity plan maintained by the Employer and (II) amounts derived from contributions,
                paid or accrued after December 31, 1985, that are attributable to post-retirement medical benefits allocated to the separate account of a key employee, as defined in Section 419A(d)(3) of the Code, under a welfare benefit fund as defined in
                Section 419(e) of the Code, maintained by the Employer; and

            

       

      	

            	(E)	
              amounts allocated under a simplified employee pension plan, are treated as Annual Additions to a defined contribution plan.

            

       

      The Annual Additions for a Limitation Year commencing prior to the Restatement Date shall be determined in accordance with the provisions of the Prior Plan.

       

      	

            	(ii)	
              "Current Accrued Benefit" shall mean a Participant's annual accrued benefit under the Plan, determined in accordance with the meaning of Section 415(b)(2) of the Code, as if the Participant had separated from service as of the close of
                the last Limitation Year beginning before January 1, 1987.  In determining the amount of a Participant's Current Accrued Benefit, the following shall be disregarded:

            

       

      	

            	(A)	
              any change in the terms and conditions of the Prior Plan after May 5, 1986; and

            

       

      	

            	(B)	
              any cost of living adjustment occurring after May 5, 1986.

            

       

      	

            	(iii)	
              "Defined benefit plan" and "defined contribution plan" shall have the meanings set forth in Section 415(k) of the Code.

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      

      	

            	(iv)	
              "Highest Average Compensation" shall mean the average Section 415 Compensation of a Participant for the three (3) consecutive calendar years during which he was a Participant in the Plan that produces the highest such average.  If an
                Employee was a Participant for less than three (3) consecutive years, the number of his consecutively completed calendar years during which he was a Participant shall be used to compute such average.

            

       

      	

            	(v)	
              "50% Joint and Survivor Benefit" shall have the meaning set forth in Section 9.7(a)(iv) with the Spouse as the designated Beneficiary.

            

       

      	

            	(vi)	
              "100% Joint and Survivor Benefit" shall have the meaning set forth in Section 9.7(a)(ii) with the Spouse as the designated Beneficiary.

            

       

      	

            	(vii)	
              "Limitation Year" shall mean the Plan Year.

            

       

      	

            	(viii)	
              "Maximum Permissible Dollar Amount," for Limitation Years ending after December 31, 2001, shall mean one hundred sixty thousand dollars ($160,000).  Such amount shall be adjusted in accordance with the provisions of Section 8.1A.(c).

            

       

      	

            	(ix)	
              "Projected Annual Benefit" under a defined benefit plan shall mean the annual retirement benefit to which a participant would be entitled under such plan if he were to continue in employment until his normal retirement age under such
                plan (or until his current age, if later), his Section 415 Compensation for the Limitation Year under consideration remains the same until the date he attains such age, and all other relevant factors used to determine benefits under the
                plan were to remain the same as in the current Limitation Year for all future Limitation Years.

            

       

      	

            	(x)	
              "Section 415 Compensation" shall be a Participant's wages, salaries, and fees for professional services and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in
                the course of employment with the employer maintaining the plan to the extent that the amounts are includible in gross income (including, but not limited to, commissions paid salespersons, compensation for services on the basis of a
                percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits, and reimbursements, or other expense allowances under a nonaccountable plan (as described in Income Tax Regulations Section 1.62-2(c))

            

       

      For the purpose of determining Section 415 Compensation for any Limitation Year, amounts shall be includable in the Limitation Year in which they are actually paid or made
        available to the Participant.  For purposes of this Section, Section 415 Compensation shall include (A) any elective deferral (as defined in Section 402(g)(3) of the Code, and (B) any amount which is contributed or deferred by the Employer at the
        election of the Employee and which is not includible in the gross income of the Employee by reason of Section 125 or 457 of the Code.

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      For purposes of applying the limitations described in this Section 8.1A., compensation paid or made available during such Limitation Years shall include elective amounts that are not includable in
        the gross income of an Employee by reason of Section 132(f)(4) of the Code.

       

      	

            	(xi)	
              "Social Security Retirement Age" shall mean the age used as the retirement age for the Participant under Section 216(l) of the Social Security Act, except that such section shall be applied (A) without regard to the age increase factor
                and (B) as if the early retirement age under Section 216(l)(2) of such Act were sixty‐two (62).

            

       

      	

            	(xii)	
              "Straight Life Annuity" shall have the meaning set forth in Section 9.7(a)(i).

            

       

      	

            	(b)	
              For purposes of applying the Section 415 limitations, the Employer and all members of a controlled group of corporations, as defined under Section 414(b) of the Code as modified by Section 415(h) of the Code, all commonly controlled
                trades or businesses, as defined under Section 414(c) of the Code, as modified by Section 415(h) of the Code, all affiliated service groups, as defined under Section 414(m) of the Code, of which the Employer is a member or was a member for
                any period, provided a Participant was employed by such member during the period of affiliation, as well as any leasing organization, as defined under Section 414(n) of the Code that employs any person who is considered an Employee under
                Section 414(n) of the Code, and any other entity required to be aggregated with the Employer pursuant to regulations promulgated by the Secretary of the Treasury under Section 414(o) of the Code shall be treated as the Employer.

            

       

      	

            	(c)	
              Limitations.

            

       

      Anything to the contrary notwithstanding, any Retirement Benefits attributable to Employer contributions provided under the Plan shall be subject to the following limitations:

       

      	

            	(i)	
              The maximum annual benefit payable as a Straight Life Annuity, or as a 100% Joint and Survivor Benefit or 50% Joint and Survivor Benefit shall be the lesser of: (A) the Maximum Permissible Dollar Amount or (B) 100% of the Participant' s
                Highest Average Compensation.

            

       

      	

            	(ii)	
              A benefit payable to any Participant which does not exceed a maximum of $10,000 for any Plan Year shall be deemed not to exceed the foregoing limitations if the Participant did not at any time participate in a defined contribution plan,
                a welfare benefit plan as defined under Section 419A(d)(2) of the Code or an individual medical account as defined under Section 415(l)(2) of the Code maintained by the Employer.  The aforementioned $10,000 maximum shall be subject to the
                provisions of Section 8.1A.(c)(iv).

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(iii)	
              A benefit payable in any form other than a Straight Life Annuity or a 100% Joint and Survivor Benefit or 50% Joint and Survivor Benefit shall be adjusted to the Actuarial Equivalent of a Straight Life Annuity before applying the
                limitations of this Section 8.1A.(c).  The Actuarial Equivalent of a Straight Life Annuity is equal to the greater of the annuity benefit computed using the interest rate and mortality table (or other tabular factor) specified in the Plan
                for adjusting benefits in the same form, and the annuity benefit computed using a five percent (5%) interest rate assumption, and the Applicable Mortality Table as set forth in Section E. of Appendix A.  In determining the Actuarial
                Equivalent of a Straight Life Annuity for any lump sum distribution or benefit form other than a nondecreasing annuity payable for a period of not less than the life of the Participant (or in the case of a qualified Preretirement Survivor
                Annuity, the life of the surviving Spouse) or decreases during the life of the Participant merely because of: (A) the death of the survivor annuitant (but only if the reduction is not below fifty percent (50%) of the annual benefit payable
                before the death of the survivor annuitant), or (B) the cessation or reduction of Social Security supplements of qualified disability payments as defined in Section 411(a)(9) of the Code, the Applicable Interest Rate, as defined in Section
                E. of Appendix A of the Plan, will be substituted for a “five percent (5%) interest rate assumption” in the preceding sentence.

            

       

      
        
          	

                	(iv)    

                	(A)

                	If a Participant has completed less than ten (10) years ofparticipation in the defined benefit plan of the Employer, the Maximum Permissible Dollar Amount set forth in
                  Section 8.1A.(c)(i)(A) above shall be reduced by multiplying such limitation by a fraction, the numerator of which shall be the number of years and fraction thereof of such Participant's participation and the denominator of which shall be
                  ten (10).

        

      

       

      	

            	(B)	
              If a Participant has completed less than ten (10) years of employment with the Employer, the limitation set forth in Section 8.1A.(c)(i)(B) and the $10,000 maximum set forth in Section 8.1A.(c)(ii) above shall be reduced by multiplying
                such amount by a fraction, the numerator of which is the number of years and fraction thereof of such Participant's employment and the denominator of which is ten (10).

            

       

      	

            	(C)	
              In no event shall the reduction set forth in Section 8.1A.(c)(iv)(A) or (B) reduce the limitations set forth in Section 8.1A.(c)(i) or the maximum set forth in Section 8.1A.(c)(ii) to an amount less than one‐tenth (1/10th) of such
                limitation or maximum, whichever is applicable, determined without regard to this Section 8.1A.(c)(iv).

            

       

      	

            	(D)	
              To the extent provided in regulations prescribed by the Secretary of the Treasury or his delegate, this Section 8.1A.(c)(iv) shall be applied separately with respect to each change in the benefit structure of the Plan.

            

       

      
        
          	

                	(v)    

                	(A)    

                	The Maximum Permissible Dollar Amount, and in the case of a Participant who has incurred a Termination of Service, the Participant's Highest Average Compensation, shall be
                  adjusted for increases in the cost-of-living in accordance with appropriate regulations prescribed by the Secretary of the Treasury or his delegate in accordance with Section 415(d) of the Code.  Each annual adjustment shall be limited to
                  the scheduled annual increase, as determined by the Secretary, and shall be effective for the Limitation Year within which such increase has become effective.

        

      

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(B)	
              In the event that the annual benefit otherwise payable to a Participant who has retired or terminated employment has been limited by the Maximum Permissible Dollar Amount, such limited annual benefit shall be increased in accordance with
                any automatic cost‐of‐living adjustments in such dollar amount made pursuant to Section 8.1A.(c)(v)(A).

            

       

      	

            	(C)	
              Benefit increases resulting from the increase in the Maximum Permissible Dollar Amount for Limitation Years ending after December 31, 2001 shall be provided to all current and former Participants who have an Accrued Benefit on the last
                day of the Limitation Year immediately prior to the Limitation Year ending after December 31, 2001 (other than an Accrued Benefit resulting from a benefit increase solely as a result of the increase in the Maximum Permissible Dollar Amount
                for Limitation Years ending after December 31, 2001).

            

       

      	

            	(vi)	
              A Participant's benefit which commences after attainment of age sixty-five (65) may exceed the Maximum Permissible Dollar Amount, provided the Actuarial Equivalent of such annual benefit commencing at age sixty-five (65) satisfies such
                Maximum Permissible Dollar Amount actuarially adjusted to the date of retirement.  The actuarial equivalent of the Maximum Permissible Dollar Amount commencing at an age after age sixty-five (65) shall be determined as the lesser of:  (1)
                the Actuarial Equivalent annual benefit calculated using the interest rate and mortality table (or tabular factors) as set forth in Appendix A of the Plan for purposes of determining the Actuarial Equivalent for a Postponed Retirement
                Benefit, and (2) the equivalent annual benefit calculated using a five percent (5%) interest rate assumption and the Applicable Mortality Table as set forth in Section E. of Appendix A of the Plan.  For these purposes, mortality between age
                sixty-five (65) and the age at which benefits commence shall be ignored.

            

       

      	

            	(vii)	
              If a Participant's benefit commences prior to attainment of age sixty-two (62), the Maximum Permissible Dollar Amount shall be equal to a benefit commencing at age sixty-two (62), reduced to the actuarial equivalent of such benefit
                determined as of the benefit commencement date.  In determining the actuarial equivalent of a benefit commencing prior to age sixty-two (62), such benefit shall be determined as the lesser of:  (1) the Actuarial Equivalent annual benefit
                calculated using the interest rate and mortality table (or tabular factors) as set forth in Appendix A of the Plan, and (2) the equivalent annual benefit calculated using a five percent (5%) interest rate assumption and the Applicable
                Mortality Table as set forth in Section E. of Appendix A of the Plan.  Any decrease in the Maximum Permissible Dollar Amount determined hereunder shall not reflect a mortality decrement if benefits are not forfeited upon the death of a
                Participant.  If any benefits are forfeited upon death, the full mortality decrement is taken into account.

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(viii)	
              If any retirement benefits shall be payable to or on account of any Participant in this Plan under any other defined benefit plan(s) (whether or not terminated) of the Employer, the limitation applicable to such Participant for the
                purposes of this Section 8.1A. shall be determined by combining the benefits payable under this Plan and the retirement benefits of all other such defined benefit plan(s).  To the extent necessary, the benefit under this Plan shall be
                reduced to insure that such combined benefits shall not exceed the limitation applicable to such Participant. Notwithstanding the foregoing, in the case of a Participant who was a participant in one or more defined benefit plans of the
                Employer in existence on May 6, 1986, the limitations of this Section 8.1A. shall not be less than the participant's Current Accrued Benefits under all such defined benefit plans as of the end of the last Limitation Year beginning before
                January 1, 1987.  The preceding sentence applies only if the defined benefit plans individually and in the aggregate satisfied the requirements of Section 415 of the Code, as in effect at the end of the 1986 Limitation Year.

            

       

      	

            	(ix)	
              For purposes of Sections 8.1A.(c)(iii), 8.1A.(c)(vi) and 8.1A.(c)(vii)(C), the Applicable Mortality Table and the Applicable Interest Rate shall be effective only with respect to benefits accrued after the “Final Implementation Date,” as
                defined below.  For benefits accrued prior to the Final Implementation Date and up to the “Freeze Date,” as defined below, benefits will be based on the “Old Law Benefit,” as defined below:

            

       

      “Final Implementation Date” shall mean November 13, 1997.

       

      “Freeze Date” shall mean November 12, 1997.

       

      “Old Law Benefit” shall mean the Participant’s Accrued Benefit under the terms of the Plan as of the Freeze Date.  The Old Law Benefit is determined for each possible annuity starting date and
        optional form of benefit based on the Participant’s Accrued Benefit under the terms of the Plan as of the Freeze Date, and applying Section 8.1A(c)(iii), 8.1A(c)(vi) and 8.1A(c)(vii)(C) as in effect on December 7, 1994, including the participation
        requirements under Code Section 415(b)(5).  In determining the Old Law Benefit, the following shall be disregarded:

       

      	

            	(i)	
              any Plan amendment increasing benefits adopted after the Freeze Date; and

            

       

      	

            	(ii)	
              any cost of living adjustments that become effective after the Freeze Date.

            

       

      A Participant’s Old Law Benefit will not be increased after the Freeze Date, however if the limitations of Code Section 415, as set forth in Section 8.1A of the Plan, as in effect on December 7,
        1994, are less than the limitations that were applied to determine the Participant’s Old Law Benefit on the Freeze Date, then the Participant’s Old Law Benefit will be reduced in accordance with such reduced limitation.  If at any date after the
        Freeze Date, the Participant’s total Plan benefit before the application of Code Section 415 is less than the Participant’s Old Law Benefit, the Old Law Benefit will be reduced to the Participant’s total Plan benefit.

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	B.	
              The limitations of this Section 8.1B. shall apply to Limitations Years commencing on or after July 1, 2007, except as otherwise provided herein.

            

       

      	

            	(a)	
              The Annual Benefit otherwise payable to a Participant at any time shall not exceed the Maximum Permissible Benefit.  If the benefit the Participant would otherwise accrue in a Limitation Year would produce an Annual Benefit in excess of
                the Maximum Permissible Benefit, the benefit shall be limited (or the rate of accrual reduced) to a benefit that does not exceed the Maximum Permissible Benefit.

            

       

      	

            	(b)	
              If the Participant is, or has ever been, a participant in another qualified defined benefit plan (without regard to whether the plan has been terminated) maintained by the Employer or a predecessor employer, the sum of the Participant’s
                Annual Benefits from all such plans may not exceed the Maximum Permissible Benefit.

            

       

      	

            	(c)	
              The application of the provisions of this Section 8.1B., shall not cause the Maximum Permissible Benefit for any Participant to be less than the Participant’s Accrued Benefit under all the defined benefit plans of the Employer or a
                predecessor employer as of the end of the Limitation Year beginning before July 1, 2007 under provisions of the plans that were both adopted and in effect before April 5, 2007.  The preceding sentence applies only if the provisions of such
                defined benefit plans that were both adopted and in effect before April 5, 2007 satisfied the applicable requirements of statutory provisions, regulations, and other published guidance relating to Section 415 of the Code in effect as of the
                end of the last Limitation Year beginning before July 1, 2007, as described in Income Tax Regulations Section 1.415(a)-1(g)(4).

            

       

      	

            	(d)	
              The limitations of this Section 8.1B. shall be determined and applied taking into account the rules in Section 8.1B.(f).

            

       

      	

            	(e)	
              Definitions.

            

       

      The following words and phrases shall have the meanings hereafter ascribed to them:

       

      	

            	(i)	
              Annual Benefit:  A benefit that is payable annually in the form of a Straight Life Annuity.  Except as provided below, where a benefit is payable in a form other than a Straight Life Annuity, the benefit shall be adjusted to an
                actuarially equivalent Straight Life Annuity that begins at the same time as such other form of benefit payable on the first day of each month, before applying the limitations of this Section.  For a Participant who has or will have
                distributions commencing at more than one annuity starting date, the Annual Benefit shall be determined as of each such annuity starting date (and shall satisfy the limitations of this Section 8.1B.(e)(i) as of each such date), actuarially
                adjusting for past and future distributions of benefits commencing at the other annuity starting dates.  For this purpose, the determination of whether a new starting date has occurred shall be made without regard to Income Tax Regulations
                Section 1.401(a)-20, Q&A 10(d), and with regard to Sections 1.415(b)-1(b)(1)(iii)(B) and (C).

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      No actuarial adjustment to the benefit shall be made for (1) survivor benefits payable to a surviving spouse under a qualified joint and survivor annuity to the extent such
        benefits would not be payable if the Participant’s benefit were paid in another form; (2) benefits that are not directly related to retirement benefits (such as a qualified disability benefit, preretirement incidental death benefits, and
        post-retirement medical benefits); or (3) the inclusion in the form of benefit of an automatic benefit increase feature, provided the form of benefit is not subject to Code Section 417(e)(3) and would otherwise satisfy the limitations of this
        Section, and the Plan provides that the amount payable under the form of benefit in any Limitation Year shall not exceed the limits in this Section applicable at the annuity starting date, as increased in subsequent years pursuant to Section 415(d)
        of the Code.  For this purpose, an automatic benefit increase feature is included in the form of benefit if the form of benefit provides for automatic, periodic increases to the benefits paid in that form.

       

      The determination of the Annual Benefit shall take into account social security supplements described in Section 411(a)(9) of the Code and benefits transferred from another
        defined benefit plan, other than transfers of distributable benefits pursuant to Income Tax Regulations Section 1.411(d)-4, Q&A-3(c), but shall disregard benefits attributable to employee contributions.

       

      Effective for distributions in Plan Years beginning after December 31, 2003, the determination of actuarial equivalence of forms of benefit other than a Straight Life Annuity
        shall be made in accordance with Section 8.1B.(e)(i)(A) or (B).

       

      	

            	(A)	
              Benefit Forms Not Subject to Code Section 417(e)(3):  The straight life annuity that is actuarially equivalent to the Participant’s form of benefit shall be determined under this Section 8.1B.(e)(i)(A) if the form of the Participant’s
                benefit is either (1) a nondecreasing annuity (other than a straight life annuity) payable for a period of not less than the life of the Participant (or, in the case of a qualified pre-retirement survivor annuity, the life of the surviving
                spouse), or (2) an annuity that decreases during the life of the Participant merely because of the death of the survivor annuitant (but only if the reduction is not below fifty percent (50%) of the benefit payable before the death of the
                survivor annuitant), or the cessation or reduction of Social Security supplements or qualified disability payments (as defined in Code Section 411(a)(9)).

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(I)	
              Limitation Years beginning before July 1, 2007.  For Limitation Years beginning before July 1, 2007, the actuarially equivalent straight life annuity is equal to the annual amount of the straight life annuity commencing at the same
                annuity starting date that has the same actuarial present value as the Participant’s form of benefit computed using whichever of the following produces the greater annual amount: the interest rate and the mortality table (or other tabular
                factor) specified in Appendix A for adjusting benefits in the same form; and a five percent (5%) interest rate assumption and the Applicable Mortality Table defined in Section E. of Appendix A for that annuity starting date.

            

       

      	

            	(II)	
              Limitation Years beginning on or after July 1, 2007.  For Limitation Years beginning on or after July 1, 2007, the actuarially equivalent straight life annuity is equal to the greater of the annual amount of the straight life annuity (if
                any) payable to the Participant under the Plan commencing at the same annuity starting date as the participant’s form of benefit; and the annual amount of the straight life annuity commencing at the same annuity starting date that has the
                same actuarial present value as the Participant’s form of benefit, computed using a five percent (5%) interest rate assumption and the Applicable Mortality Table defined in Section E. of Appendix A for that annuity starting date.

            

       

      	

            	(B)	
              Benefit Forms Subject to Section 417(e)(3):  The straight life annuity that is actuarially equivalent to the participant’s form of benefit shall be determined under this Section if the form of the Participant’s benefit is other than a
                benefit form described in Section 8.1B.(e)(i)(A).  In this case, the actuarially equivalent straight life annuity shall be determined as follows:

            

       

      	

            	(I)	
              Annuity Starting Date in Plan Years Beginning After 2005.  If the annuity starting date of the Participant’s form of benefit is in a Plan Year beginning after 2005, the actuarially equivalent straight life annuity is equal to the
                greatest of the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant’s form of benefit, computed using the interest rate and the mortality table
                (or other tabular factor) specified in Appendix A for adjusting benefits in the same form; the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the
                Participant’s form of benefit, computed using a five and one-half percent (5.5%) interest rate assumption and the Applicable Mortality Table defined in Section E. of Appendix A; and the annual amount of the straight life annuity commencing
                at the same annuity starting date that has the same actuarial present value as the Participant’s form of benefit, computed using the Applicable Interest Rate and the Applicable Mortality Table defined in Section E. of Appendix A, divided by
                1.05.

            

       

      
        
          	
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                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(II)	
              Annuity Starting Date in Plan Years Beginning in 2004 or 2005.  If the annuity starting date of the Participant’s form of benefit is in a Plan Year beginning in 2004 or 2005, the actuarially equivalent straight life annuity is equal to
                the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant’s form of benefit, computed using whichever of the following produces the greater
                annual amount: the interest rate and the mortality table (or other tabular factor) specified in Appendix A for adjusting benefits in the same form; and a five and one-half percent (5.5%) interest rate assumption and the Applicable Mortality
                Table defined in Section E. of Appendix A.

            

       

      If the annuity starting date of the Participant’s benefit is on or after the first day of the first Plan Year beginning in 2004 and before December 31, 2004, the application of this Section
        8.1B.(e)(i)(B)(II) shall not cause the amount payable under the Participant’s form of benefit to be less than the benefit calculated under the Plan, taking into account the limitations of this Section 8.1B., except that the actuarially equivalent
        straight life annuity is equal to the annual amount of the straight life annuity commencing at the same annuity starting date that has the same actuarial present value as the Participant’s form of benefit, computed using whichever of the following
        produces the greatest annual amount: (1) the interest rate and the mortality table (or other tabular factor) specified in Appendix A for adjusting benefits in the same form; (2) the Applicable Interest Rate and the Applicable Mortality Table
        defined in Section E. of Appendix A; and (3) the Applicable Interest Rate (as in effect on the last day of the last Plan Year beginning before January 1, 2004, under provisions of the Plan then adopted and in effect) and the Applicable Mortality
        Table defined in Section E. of Appendix A.

       

      	

            	(ii)	
              Compensation:  Section 415 Safe-harbor Compensation is defined as wages, salaries, and fees for professional services and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually
                rendered in the course of employment with the employer maintaining the plan to the extent that the amounts are includible in gross income (including, but not limited to, commissions paid salespersons, compensation for services on the basis
                of a percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits, and reimbursements, or other expense allowances under a nonaccountable plan (as described in Income Tax Regulations Section 1.62-2(c)) as well as
                differential wage payments as set forth in Code Section 3401(h), and excluding the following:

            

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      	

            	(A)	
              Employer contributions (other than elective contributions described in Code Section 402(e)(3), Section 408(k)(6), Section 408(p)(2)(A)(i), or Section 457(b)) to a plan of deferred compensation (including a simplified employee pension
                described in Section 408(k) or a simple retirement account described in Section 408(p), and whether or not qualified) to the extent such contributions are not includible in the Employee’s gross income for the taxable year in which
                contributed, and any distributions (whether or not includible in gross income when distributed) from a plan of deferred compensation (whether or not qualified), other than amounts received during the year by an Employee pursuant to a
                nonqualified unfunded deferred compensation plan to the extent includible in gross income;

            

       

      	

            	(B)	
              Amounts realized from the exercise of a nonstatutory stock option (that is, an option other than a statutory stock option as defined in Income Tax Regulations Section 1.421-1(b)), or when restricted stock (or property) held by the
                Employee either becomes freely transferable or is no longer subject to a substantial risk of forfeiture;

            

       

      	

            	(C)	
              Amounts realized from the sale, exchange or other disposition of stock acquired under a statutory stock option;

            

       

      	

            	(D)	
              Other amounts that receive special tax benefits, such as premiums for group-term life insurance (but only to the extent that the premiums are not includible in the gross income of the Employee and are not salary reduction amounts that
                are described in Code Section 125);

            

       

      	

            	(E)	
              Other items of remuneration that are similar to any of the items listed in (A) through (D).

            

       

      Except as provided herein, compensation for a Limitation Year is the compensation actually paid or made available during such Limitation Year.  Compensation for a Limitation Year
        shall include amounts earned but not paid during the Limitation Year solely because of the timing of pay periods and pay dates, provided the amounts are paid during the first few weeks of the next Limitation Year, the amounts are included on a
        uniform and consistent basis with respect to all similarly situated Employees, and no compensation is included in more than one Limitation Year.

       

      For Limitation Years beginning on or after July 1, 2007, compensation for a Limitation Year shall also include compensation paid by the later of two and one-half (2-1⁄2) months
        after an Employee’s severance from employment with the employer maintaining the plan or the end of the Limitation Year that includes the date of the Employee’s severance from employment with the employer maintaining the plan, if:

       

      
        
          	
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                                      Article VIII -

                                       Limitations and Restrictions on Benefits

                                    

                                  

                                

                           

                          

                          
                            	

                                  	(I)	
                                    the payment is regular compensation for services during the Employee’s regular working hours, or compensation for services outside the Employee’s regular working hours (such as overtime or shift differential),
                                      commissions, bonuses, or other similar payments, and, absent a severance from employment, the payments would have been paid to the Employee while the Employee continued in employment with the Employer;

                                  

                             

                            	

                                  	(II)	
                                    the payment is for unused accrued bona fide sick, vacation or other leave that the Employee would have been able to use if employment had continued; or

                                  

                             

                            	

                                  	(III)	
                                    the payment is received by the Employee pursuant to a nonqualified unfunded deferred compensation plan and would have been paid at the same time if employment had continued, but only to the extent includible in
                                      gross income.

                                  

                             

                            Any payments not described above shall not be considered compensation if paid after severance from employment, even if they are paid by the later of two and
                              one-half (2-1⁄2) months after the date of severance from employment or the end of the Limitation Year that includes the date of severance from employment, except for payments to an individual who does not currently perform
                              services for the employer by reason of qualified military service (within the meaning of Code Section 414(u)(1)) to the extent these payments do not exceed the amounts the individual would have received if the individual had
                              continued to perform services for the Employer rather than entering qualified military service; or compensation paid to a Participant who is permanently and totally disabled, as defined in Code Section 22(e)(3).

                             

                            Back pay, within the meaning of Income Tax Regulations Section 1.415(c)-2(g)(8), shall be treated as compensation for the Limitation Year to which the back
                              pay relates to the extent the back pay represents wages and compensation that would otherwise be included under this definition.

                             

                            Compensation paid or made available during such Limitation Year shall include amounts that would otherwise be included in Compensation but for an election
                              under Code Sections 125(a), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b).

                             

                            Compensation shall also include any elective amounts that are not includible in the gross income of the Employee by reason of Code Section 132(f)(4).

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            Compensation shall also include deemed Code Section 125 compensation.  Deemed Code Section 125 compensation is an amount that is excludable under Code
                              Section 106 that is not available to a Participant in cash in lieu of group health coverage under a Code Section 125 arrangement solely because the Participant is unable to certify that he or she has other health coverage. 
                              Amounts are deemed Code Section 125 compensation only if the Employer does not request or otherwise collect information regarding the Participant’s other health coverage as part of the enrollment process for the health plan.

                             

                            Compensation shall not include amounts paid as compensation to a nonresident alien, as defined in Code Section 7701(b)(1)(B), who is not a Participant in
                              the Plan to the extent the compensation is excludable from gross income and is not effectively connected with the conduct of a trade or business within the United States.

                             

                            	

                                  	(iii)	
                                    Defined Benefit Compensation Limitation:  One hundred percent (100%) of a Participant’s High Three-Year Average Compensation, payable in the form of a straight life annuity.

                                  

                             

                            In the case of a Participant who has had a severance from employment with the Employer, the Defined Benefit Compensation Limitation applicable to the
                              Participant in any Limitation Year beginning after the date of severance shall be automatically adjusted by multiplying the limitation applicable to the Participant in the prior Limitation Year by the annual adjustment factor
                              under Code Section 415(d).  The adjusted compensation limit shall apply to Limitation Years ending with or within the calendar year of the date of the adjustment, but a Participant’s benefits shall not reflect the adjusted
                              limit prior to January 1 of that calendar year.

                             

                            In the case of a Participant who is rehired after a severance from employment, the Defined Benefit Compensation Limitation is the greater of one hundred
                              percent (100%) of the Participant’s High Three-Year Average Compensation, as determined prior to the severance from employment, as adjusted pursuant to the preceding paragraph, if applicable; or one hundred percent (100%) of
                              the Participant’s High Three-Year Average Compensation, as determined after the severance from employment under Section 8.1B.(e)(vii).

                             

                            	

                                  	(iv)	
                                    Defined Benefit Dollar Limitation:  The Defined Benefit Dollar Limitation is two hundred thirty thousand dollars ($230,000), automatically adjusted under Code Section 415(d), effective January 1 of each year, as
                                      published in the Internal Revenue Bulletin, and payable in the form of a straight life annuity.  The new limitation shall apply to Limitation Years ending with or within the calendar year of the date of the adjustment,
                                      but a Participant’s benefits shall not reflect the adjusted limit prior to January 1 of that calendar year.

                                  

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                            

                            

                            	

                                  	(v)	
                                    Employer:  For purposes of this Section 8.1B., employer shall mean the Employer that adopts this Plan, and all members of a controlled group of corporations, as defined in Code Section 414(b), as modified by Code
                                      Section 415(h), all commonly controlled trades or businesses (as defined in Code Section 414(c), as modified, except in the case of a brother-sister group of trades or businesses under common control, by Code Section
                                      415(h), or affiliated service groups (as defined in Code Section 414(m)) of which the adopting Employer is a part, and any other entity required to be aggregated with the employer pursuant to Code Section 414(o).

                                  

                             

                            	

                                  	(vi)	
                                    Formerly Affiliated Plan of the Employer:  A plan that, immediately prior to the cessation of affiliation, was actually maintained by the Employer and, immediately after the cessation of affiliation, is not actually
                                      maintained by the Employer.  For this purpose, cessation of affiliation means the event that causes an entity to no longer be considered the employer, such as the sale of a member controlled group of corporations, as
                                      defined in Code Section 414(b), as modified by Code Section 415(h), to an unrelated corporation, or that causes a plan to not actually be maintained by the employer, such as transfer of plan sponsorship outside a
                                      controlled group.

                                  

                             

                            	

                                  	(vii)	
                                    High Three-Year Average Compensation:  The average compensation for the three (3) consecutive calendar years of service (or, if the Participant has less than three consecutive years of service, the Participant’s
                                      longest consecutive calendar years, including fractions of years, but not less than one year) with the Employer that produces the highest average.  In the case of a Participant who is rehired by the employer after a
                                      severance from employment, the Participant’s high three-year average compensation shall be calculated by excluding all years for which the Participant performs no services for and receives no compensation from the
                                      Employer (the break period) and by treating the years immediately preceding and following the break period as consecutive.  A Participant’s compensation for a year of service shall not include compensation in excess of
                                      the limitation under Code Section 401(a)(17) that is in effect for the calendar year in which such year of service begins.

                                  

                             

                            	

                                  	(viii)	
                                    Limitation Year:  A Plan Year.  If the Limitation Year is amended to a different 12-consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made.

                                  

                             

                            	

                                  	(ix)	
                                    Maximum Permissible Benefit:  The lesser of the Defined Benefit Dollar Limitation or the Defined Benefit Compensation Limitation (both adjusted where required, as provided below).

                                  

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(A)	
                                    Adjustment for Less Than Ten (10) Years of Participation or Service:  If the Participant has less than ten (10) years of participation in the Plan, the Defined Benefit Dollar Limitation shall be multiplied by a
                                      fraction: the numerator of which is the number of years (or part thereof, but not less than one year) of participation in the Plan, and the denominator of which is ten (10).  In the case of a Participant who has less
                                      than ten (10) years of service with the Employer, the Defined Benefit Compensation Limitation shall be multiplied by a fraction: the numerator of which is the number of years (or part thereof, but not less than one
                                      year) of service with the Employer, and the denominator of which is ten (10).

                                  

                             

                            	

                                  	(B)	
                                    Adjustment of Defined Benefit Dollar Limitation for Benefit Commencement Before Age Sixty-two (62) or after Age Sixty-five (65):  The Defined Benefit Dollar Limitation shall be adjusted if the annuity starting date
                                      of the Participant’s benefit is before age sixty-two (62) or after age sixty-five (65).  If the annuity starting date is before age sixty-two (62), the Defined Benefit Dollar Limitation shall be adjusted under Section
                                      8.1B.(e)(ix), as modified by Section 8.1B.(e)(ix)(B)(III).  If the annuity starting date is after age sixty-five (65), the Defined Benefit Dollar Limitation shall be adjusted under Section 8.1B.(e)(ix)(B)(II), as
                                      modified by Section 8.1B.(e)(ix)(B)(III).

                                  

                             

                            	

                                  	(I)	
                                    Adjustment of Defined Benefit Dollar Limitation for Benefit Commencement Before Age Sixty-two (62):

                                  

                             

                            	

                                  	(1)	
                                    Limitation Years Beginning Before July 1, 2007.  If the annuity starting date for the Participant’s benefit is prior to age sixty-two (62) and occurs in a Limitation Year beginning before July 1, 2007, the Defined
                                      Benefit Dollar Limitation for the Participant’s annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant’s annuity starting date that is the
                                      actuarial equivalent of the Defined Benefit Dollar Limitation (adjusted under Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required) with actuarial equivalence computed using whichever of
                                      the following produces the smaller annual amount: the interest rate and the mortality table (or other tabular factor) specified in Appendix A; or a five percent (5%) interest rate assumption and the Applicable
                                      Mortality Table as defined in Section E. of Appendix A.

                                  

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(2)	
                                    Limitation Years Beginning on or After July 1, 2007.

                                  

                             

                            	

                                  	(2)(A)	
                                    Plan Does Not Have Immediately Commencing Straight Life Annuity Payable at Both Age Sixty-two (62) and the Age of Benefit Commencement.  If the annuity starting date for the Participant’s benefit is prior to age
                                      sixty-two (62) and occurs in a Limitation Year beginning on or after July 1, 2007, and the Plan does not have an immediately commencing straight life annuity payable at both age sixty-two (62) and the age of benefit
                                      commencement, the Defined Benefit Dollar Limitation for the Participant’s annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant’s annuity
                                      starting date that is the actuarial equivalent of the Defined Benefit Dollar Limitation (adjusted under Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required) with actuarial equivalence
                                      computed using a five percent (5%) interest rate assumption and the Applicable Mortality Table for the annuity starting date as defined in Section E. of Appendix A (and expressing the Participant’s age based on
                                      completed calendar months as of the annuity starting date).

                                  

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(2)(B)	
                                    Plan Has Immediately Commencing Straight Life Annuity Payable at Both Age Sixty-two (62) and the Age of Benefit Commencement.  If the annuity starting date for the Participant’s benefit is prior to age sixty-two
                                      (62) and occurs in a Limitation Year beginning on or after July 1, 2007, and the Plan has an immediately commencing straight life annuity payable at both age sixty-two (62) and the age of benefit commencement, the
                                      Defined Benefit Dollar Limitation for the Participant’s annuity starting date is the lesser of the limitation determined under Section 8.1B.(e)(ix)(B)(I)(2)(2)(A) and the Defined Benefit Dollar Limitation (adjusted
                                      under Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required) multiplied by the ratio of the annual amount of the immediately commencing straight life annuity under the Plan at the
                                      Participant’s annuity starting date to the annual amount of the immediately commencing straight life annuity under the plan at age sixty-two (62), both determined without applying the limitations of this Section 8.1B.

                                  

                             

                            	

                                  	(II)	
                                    Adjustment of Defined Benefit Dollar Limitation for Benefit Commencement After Age Sixty-five (65):

                                  

                             

                            	

                                  	(1)	
                                    Limitation Years Beginning Before July 1, 2007.  If the annuity starting date for the Participant’s benefit is after age sixty-five (65) and occurs in a Limitation Year beginning before July 1, 2007, the Defined
                                      Benefit Dollar Limitation for the participant’s annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant’s annuity starting date that is the
                                      actuarial equivalent of the Defined Benefit Dollar Limitation (adjusted under Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required) with actuarial equivalence computed using whichever of
                                      the following produces the smaller annual amount: the interest rate and the mortality table (or other tabular factor) specified in Appendix A; or a five percent (5%) interest rate assumption and the Applicable
                                      Mortality Table as defined in Section E. of Appendix A.

                                  

                             

                            
                              
                                	
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                                          Article VIII -

                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(2)	
                                    Limitation Years Beginning After July 1, 2007.

                                  

                             

                            	

                                  	(2)(A)	
                                    Plan Does Not Have Immediately Commencing Straight Life Annuity Payable at Both Age Sixty-five (65) and the Age of Benefit Commencement.  If the annuity starting date for the Participant’s benefit is after age
                                      sixty-five (65) and occurs in a Limitation Year beginning on or after July 1, 2007, and the Plan does not have an immediately commencing straight life annuity payable at both age sixty-five (65) and the age of benefit
                                      commencement, the Defined Benefit Dollar Limitation at the Participant’s annuity starting date is the annual amount of a benefit payable in the form of a straight life annuity commencing at the Participant’s annuity
                                      starting date that is the actuarial equivalent of the Defined Benefit Dollar Limitation (adjusted under Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required), with actuarial equivalence
                                      computed using a five percent (5%) interest rate assumption and the Applicable Mortality Table for that annuity starting date as defined in Section E. of Appendix A (and expressing the Participant’s age based on
                                      completed calendar months as of the annuity starting date).

                                  

                             

                            
                              
                                	
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                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	 (2)(B)	
                                    Plan Has Immediately Commencing Straight Life Annuity Payable at Both Age Sixty-five (65) and the Age of Benefit Commencement.  If the annuity starting date for the Participant’s benefit is after age sixty-five (65)
                                      and occurs in a Limitation Year beginning on or after July 1, 2007, and the Plan has an immediately commencing straight life annuity payable at both age sixty-five (65) and the age of benefit commencement, the Defined
                                      Benefit Dollar Limitation at the Participant’s annuity starting date is the lesser of the limitation determined under Section 8.1B.(e)(ix)(B)(II)(2)(2)(A) and the Defined Benefit Dollar Limitation (adjusted under
                                      Section 8.1B.(e)(ix)(A) for years of participation less than ten (10), if required) multiplied by the ratio of the annual amount of the adjusted immediately commencing straight life annuity under the plan at the
                                      Participant’s annuity starting date to the annual amount of the adjusted immediately commencing straight life annuity under the Plan at age sixty-five (65), both determined without applying the limitations of this
                                      Section 8.1B.  For this purpose, the adjusted immediately commencing straight life annuity under the Plan at the Participant’s annuity starting date is the annual amount of such annuity payable to the Participant,
                                      computed disregarding the Participant’s accruals after age sixty-five (65), but including actuarial adjustments even if those actuarial adjustments are used to offset accruals; and the adjusted immediately commencing
                                      straight life annuity under the Plan at age sixty-five (65) is the annual amount of such annuity that would be payable under the Plan to a hypothetical Participant who is age sixty-five (65) and has the same Accrued
                                      Benefit as the Participant.

                                  

                             

                            
                              
                                	
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                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(III)	
                                    Notwithstanding the other requirements of this Section 8.1B.(e)(ix)(B), in adjusting the Defined Benefit Dollar Limitation for the Participant’s annuity starting date under Section 8.1B.(e)(ix)(B)(I)(1),
                                      8.1B.(e)(ix)(B)(I)(2)(2)(A), 8.1B.(e)(ix)(B)(II)(1), or 8.1B.(e)(ix)(B)(II)(2)(2)(A), no adjustment shall be made to reflect the probability of a Participant’s death between the annuity starting date and age sixty-two (62), or between age sixty-five (65) and the annuity starting date, as applicable, if benefits are not forfeited upon the
                                      death of the Participant prior to the annuity starting date.  To the extent benefits are forfeited upon death before the annuity starting date, such an adjustment shall be made.  For this purpose, no forfeiture shall
                                      be treated as occurring upon the Participant’s death if the Plan does not charge Participants for providing a qualified preretirement survivor annuity, as defined in Code Section 417(c) upon the Participant’s death.

                                  

                             

                            	

                                  	(C)	
                                    Minimum benefit permitted:  Notwithstanding anything else in this Section to the contrary, the benefit otherwise accrued or payable to a Participant under this Plan shall be deemed not to exceed the Maximum
                                      Permissible Benefit if:

                                  

                             

                            	

                                  	(I)	
                                    the retirement benefits payable for a Limitation Year under any form of benefit with respect to such Participant under this Plan and under all other defined benefit plans (without regard to whether a plan has been
                                      terminated) ever maintained by the Employer do not exceed ten thousand dollars ($10,000) multiplied by a fraction – the numerator of which is the Participant’s number of years (or part thereof, but not less than one
                                      year) of service (not to exceed ten (10)) with the Employer, and the denominator of which is ten (10); and

                                  

                             

                            	

                                  	(II)	
                                    the Employer (or a predecessor employer) has not at any time maintained a defined contribution plan in which the Participant participated (for this purpose, mandatory employee contributions under a defined benefit
                                      plan, individual medical accounts under Code Section 401(h), and accounts for postretirement medical benefits established under Code Section 419A(d)(1) are not considered a separate defined contribution plan).

                                  

                             

                            	

                                  	(x)	
                                    Predecessor Employer:  If the Employer maintains a plan that provides a benefit which the Participant accrued while performing services for a former employer, the former employer is a predecessor employer with
                                      respect to the Participant in the Plan.  A former entity that antedates the Employer is also a predecessor employer with respect to a Participant if, under the facts and circumstances, the Employer constitutes a
                                      continuation of all or a portion of the trade or business of the former entity.

                                  

                             

                            
                              
                                	
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                                  	(xi)	
                                    Severance from Employment:  An Employee has a severance from employment when the Employee ceases to be an Employee of the Employer maintaining the plan.  An Employee does not have a severance from employment if, in
                                      connection with a change of employment, the Employee’s new employer maintains the plan with respect to the Employee.

                                  

                             

                            	

                                  	(xii)	
                                    Year of Participation:  The Participant shall be credited with a year of participation (computed to fractional parts of a year) for each accrual computation period for which the following conditions are met: the
                                      Participant is credited with at least the number of hours of service (or period of service if the elapsed time method is used) for benefit accrual purposes, required under the terms of the Plan in order to accrue a
                                      benefit for the accrual computation period, and the Participant is included as a Participant under the eligibility provisions of the Plan for at least one (1) day of the accrual computation period.  If these two
                                      conditions are met, the portion of a year of participation credited to the Participant shall equal the amount of benefit accrual service credited to the Participant for such accrual computation period.  A Participant
                                      who is permanently and totally disabled within the meaning of Code Section 415(c)(3)(C)(i) for an accrual computation period shall receive a year of participation with respect to that period.  In addition, for a
                                      Participant to receive a year of participation (or part thereof) for an accrual computation period, the Plan must be established no later than the last day of such accrual computation period.  In no event shall more
                                      than one year of participation be credited for any twelve (12) month period.

                                  

                             

                            	

                                  	(xiii)	
                                    Year of Service:  For purposes of Section 8.1B.(e)(vii), the Participant shall be credited with a year of service (computed to fractional parts of a year) for each accrual computation period for which the
                                      Participant is credited with at least the number of hours of service (or period of service if the elapsed time method is used) for benefit accrual purposes, required under the terms of the Plan in order to accrue a
                                      benefit for the accrual computation period, taking into account only service with the Employer or a predecessor employer.

                                  

                             

                            	

                                  	(f)	
                                    Other Rules.

                                  

                             

                            	

                                  	(i)	
                                    Benefits Under Terminated Plans.  If a defined benefit plan maintained by the Employer has terminated with sufficient assets for the payment of benefit liabilities of all Participants and a Participant has not yet
                                      commenced benefits under the Plan, the benefits provided pursuant to the annuities purchased to provide the Participant’s benefits under the terminated plan at each possible annuity starting date shall be taken into
                                      account in applying the limitations of this article.  If there are not sufficient assets for the payment of all Participants’ benefit liabilities, the benefits taken into account shall be the benefits that are actually
                                      provided to the Participant under the terminated plan.

                                  

                             

                            
                              
                                	
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                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(ii)	
                                    Benefits Transferred From the Plan.  If a Participant’s benefits under a defined benefit plan maintained by the Employer are transferred to another defined benefit plan maintained by the Employer and the transfer is
                                      not a transfer of distributable benefits pursuant Income Tax Regulations Section 1.411(d)-4, Q&A-3(c), the transferred benefits are not treated as being provided under the transferor plan (but are taken into
                                      account as benefits provided under the transferee plan).  If a Participant’s benefits under a defined benefit plan maintained by the Employer are transferred to another defined benefit plan that is not maintained by
                                      the Employer and the transfer is not a transfer of distributable benefits pursuant to Income Tax Regulations Section 1.411(d)-4, Q&A-3(c), the transferred benefits are treated by the Employer’s plan as if such
                                      benefits were provided under annuities purchased to provide benefits under a plan maintained by the Employer that terminated immediately prior to the transfer with sufficient assets to pay all Participants’ benefit
                                      liabilities under the Plan.  If a Participant’s benefits under a defined benefit plan maintained by the Employer are transferred to another defined benefit plan in a transfer of distributable benefits pursuant to
                                      Income Tax Regulations Section 1.411(d)-4, Q&A-3(c), the amount transferred is treated as a benefit paid from the transferor plan.

                                  

                             

                            	

                                  	(iii)	
                                    Formerly Affiliated Plans of the Employer.  A formerly affiliated plan of an employer shall be treated as a plan maintained by the Employer, but the formerly affiliated plan shall be treated as if it had terminated
                                      immediately prior to the cessation of affiliation with sufficient assets to pay Participants’ benefit liabilities under the plan and had purchased annuities to provide benefits.

                                  

                             

                            	

                                  	(iv)	
                                    Plans of a Predecessor Employer.  If the Employer maintains a defined benefit plan that provides benefits accrued by a Participant while performing services for a predecessor employer, the Participant’s benefits
                                      under a plan maintained by the predecessor employer shall be treated as provided under a plan maintained by the Employer.  However, for this purpose, the plan of the predecessor employer shall be treated as if it had
                                      terminated immediately prior to the event giving rise to the predecessor employer relationship with sufficient assets to pay Participants’ benefit liabilities under the plan, and had purchased annuities to provide
                                      benefits; the Employer and the predecessor employer shall be treated as if they were a single employer immediately prior to such event and as unrelated employers immediately after the event; and if the event giving
                                      rise to the predecessor relationship is a benefit transfer, the transferred benefits shall be excluded in determining the benefits provided under the plan of the predecessor employer.

                                  

                             

                            
                              
                                	
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                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(v)	
                                    Special Rules.  The limitations of this Section 8.1B. shall be determined and applied taking into account the rules in Income Tax Regulations Sections 1.415(f)-1(d), (e) and (h).

                                  

                             

                            	

                                  	(vi)	
                                    Aggregation with Multiemployer Plans.

                                  

                             

                            	

                                  	(A)	
                                    If the Employer maintains a multiemployer plan, as defined in Code Section 414(f), and the multiemployer plan so provides, only the benefits under the multiemployer plan that are provided by the Employer shall be
                                      treated as benefits provided under a plan maintained by the Employer for purposes of this Section 8.1B.

                                  

                             

                            	

                                  	(B)	
                                    Effective for Limitation Years ending after December 31, 2001, a multiemployer plan shall be disregarded for purposes of applying the compensation limitation of Sections 8.1B.(e)(iii) and 8.1B.(e)(ix)(A) to a plan
                                      which is not a multiemployer plan.

                                  

                             

                            
                              	
                                      8.2

                                    	
                                      Restrictions on Twenty‐five Highest Paid

                                    

                            

                             

                            The following provisions relating to restrictions on benefits payable to certain highly compensated Employees are applicable:

                             

                            	

                                  	(a)	
                                    For purposes of this Section 8.2, "Restricted Employee" shall mean any one of the twenty-five (25) highest compensated Employees from the group comprised of Highly Compensated Employees (as defined under Section
                                      414(q) of the Code) and Highly Compensated Former Employees (as defined under Section 414(q)(6) of the Code).

                                  

                             

                            	

                                  	(b)	
                                    If the Plan is terminated, the benefit which becomes payable to a Restricted Employee must satisfy the nondiscrimination requirements of Section 401(a)(4) of the Code and regulations promulgated thereunder.

                                  

                             

                            	

                                  	(c)	
                                    If a benefit becomes payable to a Restricted Employee before the Plan terminates, the maximum annual benefit payable to such Restricted Employee shall be an amount equal to the annual payments which would be payable
                                      to him assuming payments in the form of a Straight Life Annuity that is the actuarial equivalent of his Accrued Benefit and other benefits to which the Restricted Employee is entitled to under the Plan (other than any
                                      social security supplement within the meaning of Income Tax Regulations Section 1.411(a)-7(c)(4)(ii)).

                                  

                             

                            	

                                  	(d)	
                                    Notwithstanding the foregoing, the restrictions set forth in Section 8.2(c) shall not apply if:

                                  

                             

                            	

                                  	(i)	
                                    after payment to a Restricted Employee of his Accrued Benefit, the value of Plan assets equals or exceeds one hundred ten percent (110%) of the value of current liabilities determined using any reasonable and
                                      consistent method; or

                                  

                             

                            	

                                  	(ii)	
                                    prior to any payment to the Restricted Employee, the value of the Accrued Benefit payable to the Restricted Employee is less than one percent (1%) of the value of current liabilities using any reasonable and
                                      consistent method; or

                                  

                             

                            
                              
                                	
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                                           Limitations and Restrictions on Benefits

                                        

                                      

                                    

                            

                             

                            	

                                  	(iii)	
                                    the value of the Accrued Benefit payable to the Restricted Employee is less than or equal to five thousand dollars ($5,000).

                                  

                             

                            For purposes of this Section 8.2(d), the value of Plan assets and the value of current liabilities must be determined as of the same date.

                             

                            	

                                  	(e)	
                                    If a Participant has effectively elected to receive a Single Lump Sum Payment pursuant to Section 9.7(c)(ii) and such benefit is subject to the limitations set forth in this Section 8.2, prior to the distribution of
                                      his benefit the Participant shall enter into a written agreement to guarantee repayment of the Restricted Amount and shall provide security determined by the Trustees to be adequate for such purpose.  For the purposes
                                      of this Section 8.2(e), Restricted Amount shall mean the excess of the total Lump Sum Benefit over the Participant’s nonrestricted limit, where the nonrestricted limit is equal to the payments that could have been
                                      distributed to the Participant if payments were received in the amount set forth in Section 8.2(c).  The Committee may prepare such agreement which shall be subject to the approval of the Trustees or may request the
                                      Trustees to prepare such agreement.  The Trustees may require that any agreement required pursuant to this Section 8.2(e) be submitted to the Internal Revenue Service for a private letter ruling.  The expenses involved
                                      with any security arrangement, including but not limited to any request for a private letter ruling, shall be borne by the Participant unless the Employer shall agree to bear all or part of the expenses.

                                  

                             

                            	

                                  	(f)	
                                    Any limitations or procedures in this Section 8.2 shall automatically become inoperative and of no effect upon a ruling, regulation or other pronouncement by the Internal Revenue Service that such limitations or
                                      procedures are not required, have been superseded or no longer apply.

                                  

                             

                            
                              
                                	
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                                          Payment of Benefits

                                        

                                      

                                    

                            

                             

                            ARTICLE IX ‐

                            PAYMENT OF BENEFITS

                              

                            

                            
                              	
                                      9.1

                                    	
                                      Application and Consent

                                    

                            

                             

                            If either the value of a Participant's vested Accrued Benefit derived from Employer and Employee contributions exceeds $5,000 or there are remaining payments to be made with
                              respect to a particular distribution option that previously commenced, and the Accrued Benefit is immediately distributable, the Participant and the Participant's Spouse (or where either the Participant or the Spouse has died,
                              the survivor) must consent to any distribution of such Accrued Benefit. The consent of the Participant and the Participant's Spouse shall be obtained in writing within the 180-day period (90-day period for Plan Years beginning
                              before January 1, 2007) ending on the annuity starting date. The annuity starting date is the first day of the first period for which an amount is paid as an annuity or any other form. The Employee Benefits Committee shall
                              notify the Participant and the Participant's Spouse of the right to defer any distribution until the Participant's Accrued Benefit is no longer immediately distributable and, for Plan Years beginning after December 31, 2006,
                              the consequences of failing to defer any distributions. Such notification shall include a general description of the material features, and an explanation of the relative values of, the optional forms of benefit available
                              under the plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3).

                             

                            Subject to the provisions of Sections 9.6(a), 9.8 and 9.10, an eligible Participant must file a completed application with the Employee Benefits Committee during the period
                              that begins for notices. The notification shall be provided no less than 30 days and no more than 180 days (90 days for notices given in plan years beginning before January 1, 2007) prior to the annuity starting date. However,
                              distribution may commence less than 30 days after the notice described in the preceding sentence is given, provided the distribution is one to which Code Sections 401(a)(11) and 417 do not apply, the Employee Benefits
                              Committee clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a
                              particular distribution option), and the Participant, after receiving the notice, affirmatively elects a distribution. Only the Participant must consent to the commencement of a distribution in the form of Qualified Joint and
                              Survivor Annuity.  Neither the consent of the Participant nor the Participant’s Spouse shall be required to the extent that a distribution is required to satisfy either Code Section 401(a)(9) or Code Section 415.

                             

                            Present value shall be determined in accordance with Appendix A of the Plan. If elected by the Employer, a Participant's vested Accrued Benefit shall not include the portion
                              that is attributable to rollover contributions (and earnings allocable thereto) within the meaning of § 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code.

                             

                            A notice or election may be provided as a written paper document or in electronic form.  A notice or election provided by an electronic system must satisfy the requirements
                              set forth under Treas. Reg. Section 1.401(a)-21(a)(1)(ii)(B).

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            
                              	
                                      9.2

                                    	
                                      Standard Form of Benefit Payments

                                    

                            

                             

                            In the absence of an election by a Participant to the contrary, a Participant's Retirement Benefit shall be payable as:  (a) a 50% Joint and Survivor Benefit
                              with his Spouse as the designated Beneficiary or (b) a Straight Life Annuity, if the Participant does not have a Spouse.  In the event the 50% Joint and Survivor Benefit is payable, benefit payments shall be reduced to the
                              Actuarial Equivalent of a Straight Life Annuity.

                             

                            
                              	
                                      9.3

                                    	
                                      Notice Requirements

                                    

                            

                             

                            The Employee Benefits Committee shall make every reasonable effort to furnish each Participant, by personal delivery or first class mail, the following
                              information not less than thirty (30) days nor more than one hundred eighty (180) days prior to his commencement of benefits:

                             

                            	

                                  	(a)	
                                    the terms and conditions of the 50% Joint and Survivor Benefit,

                                  

                             

                            	

                                  	(b)	
                                    the Participant's right to make, and the effect of, an election to waive the 50% Joint and Survivor Benefit,

                                  

                             

                            	

                                  	(c)	
                                    the rights of the Participant's Spouse under the Plan,

                                  

                             

                            	

                                  	(d)	
                                    the right to make, and the effect of, a revocation of a previous election to waive the 50% Joint and Survivor Benefit, and

                                  

                             

                            	

                                  	(e)	
                                    the relative values of the various optional forms of benefit payments under the Plan, as provided in Income Tax Regulations Section 1.417(a)-3.  Such notice shall include a general description of the material
                                      features, and an explanation of the relative values of the various optional forms of benefit available under the Plan in a manner that would satisfy the notice requirements of Code Section 417(a)(3) and Income Tax
                                      Regulations Section 1.417(a)-3.  Such notice shall also include a description of how much larger benefits would be if the commencement of distributions were deferred.

                                  

                             

                            However, distribution may commence less than thirty (30) days after the notice described above is given, provided the distribution is one to which Code Sections 401(a)(11) and
                              417 do not apply, the Employee Benefits Committee clearly informs the Participant that the Participant has a right to a period of at least thirty (30) days after receiving the notice to consider the decision of whether or not
                              to elect a distribution (and, if applicable, a particular distribution option), and the Participant, after receiving the notice, affirmatively elects a distribution.

                             

                            The Employee Benefits Committee shall also permanently post in the Employer's office or offices the information described in (a) through (e) above in a
                              manner that is reasonably calculated to reach the attention of each Participant.

                             

                            
                              	
                                      9.4

                                    	
                                      Notice Requirements - Preretirement Survivor Annuity

                                    

                            

                             

                            The Employee Benefits Committee shall provide written notice to a Participant of the Preretirement Survivor Annuity, described in Section 7.7(a).  Such
                              notice shall provide an explanation of the Preretirement Survivor Annuity in a comparable manner to the notice described under Section 9.3, above.  The Plan Administrator shall provide the notice in whichever of the following
                              periods ends last:

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            	

                                  	(a)	
                                    the period beginning with the first day of the Plan Year in which the Participant attains age thirty-two (32) and ending with the close of the Plan Year preceding the Plan Year in which the Participant attains age
                                      thirty-five (35);

                                  

                             

                            	

                                  	(b)	
                                    a reasonable period ending after the Employee becomes a Participant;

                                  

                             

                            	

                                  	(c)	
                                    A reasonable period ending after the Plan no longer fully subsidizes the cost of the Preretirement Survivor Annuity with respect to the Participant;

                                  

                             

                            	

                                  	(d)	
                                    a reasonable period ending after Section 401(a)(11) of the Code applies to the Participant;

                                  

                             

                            	

                                  	(e)	
                                    with respect to a Participant who terminates employment with the Employer before attaining age thirty-five (35), a reasonable period after his termination of employment; or

                                  

                             

                            	

                                  	(f)	
                                    a reasonable period ending after the provisions of this Section 9.4 no longer apply to the Participant.

                                  

                             

                            For purposes of this Section 9.4, a reasonable period is the end of the two (2) year period beginning one (1) year prior to the date the event occurs and
                              ending one (1) year after such date.

                             

                            
                              	
                                      9.5

                                    	
                                      Election to Waive Preretirement Survivor Annuity

                                    

                            

                             

                            At any time after the beginning of the Plan Year in which the Participant attains age thirty-five (35) or after his service ceases, the Participant may
                              choose to waive the entire portion of the Preretirement Survivor Annuity, described in Section 7.7(a), by making the election described in Section 9.6(b) and returning it to the Employer.  A Participant who will not yet attain
                              age thirty-five (35) as of the end of any current Plan Year may make a special qualified election to waive the Preretirement Survivor Annuity (described above) for the period beginning on the date of such election and ending
                              on the first day of the Plan Year in which the Participant will attain age thirty-five (35).  The Preretirement Survivor Annuity (described above) will be automatically reinstated as of the first day of the Plan Year in which
                              the Participant attains age thirty-five (35).  If an election under 9.6(b) is not submitted by the Participant prior to his death, the Preretirement Survivor Annuity (described above)
                              will become payable.  A Participant may revoke his election to waive the Preretirement Survivor Annuity (described above) at any time by filing a written notice to this effect with the Employer.  The Participant may revoke his
                              election to waive the Preretirement Survivor Annuity (described above) as many times as he chooses.  No spousal consent will be required for such revocations.  If not previously revoked, a Participant's election will be deemed
                              to be revoked on the Participant's retirement date.

                             

                            
                              	
                                      9.6

                                    	
                                      Election of Optional Forms of Benefit Payments

                                    

                            

                             

                            	

                                  	(a)	
                                    In lieu of the standard form of benefit payments described in Section 9.2, the Participant may elect in writing to receive his benefit payments in any one of the optional forms of benefit payments set forth in
                                      Section 9.7.  Such election shall be in a form approved by the Trustees and the completed election form must be filed with the Employee Benefits Committee during a one hundred eighty (180) day election period ending on
                                      the benefit commencement date.

                                  

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            	

                                  	(b)	
                                    An election by the Participant to receive benefit payments in a form other than that described in Section 9.2(a) or to receive a Joint and Survivor Benefit which would provide the Spouse with a benefit which is less
                                      than fifty percent (50%) of the Participant's benefit, or any election made by the Participant under the provisions of the Plan which is subject to spousal consent, shall not be effective unless (i) the Participant's
                                      Spouse irrevocably consents to such election in writing, (ii) such election designates a Beneficiary or form of benefit payment, which may not be changed without spousal consent, or the consent of the Spouse expressly
                                      permits a change in such designation by the Participant without any requirement of further consent by the Spouse, (iii) the Spouse's consent acknowledges understanding of the effect of such election, and (iv) the
                                      consent is witnessed by a Plan representative or a notary public.  Notwithstanding this consent requirement, if the Participant establishes to the satisfaction of the Plan representative that such written consent
                                      cannot be obtained because there is no Spouse or the Spouse cannot be located, such election shall be deemed a qualified election.  Any consent necessary under this provision shall be valid only with respect to the
                                      Spouse who signs the consent, or in the event of a deemed qualified election, the designated Spouse.

                                  

                             

                            	

                                  	(c)	
                                    A Participant who has submitted an election for an optional form of benefit payment to the Employee Benefits Committee may, without the consent of his Spouse, revoke such prior election by submitting written
                                      notification of such revocation to the Employee Benefits Committee before the benefit commencement date.  Upon revocation, the 50% Joint and Survivor Benefit shall be reinstated unless the Participant elects an
                                      optional form of benefit payment in accordance with the provisions of Section 9.6(b).  The number of election forms and revocations shall not be limited.

                                  

                             

                            	

                                  	(d)	
                                    The terms and conditions of any election for an optional form of benefit payment under this Section 9.6 shall become effective on the benefit commencement date.  Whenever payment of benefits to the Participant
                                      precedes a payment of benefits to a Beneficiary the following additional terms and conditions shall apply:

                                  

                             

                            If the Beneficiary designated to receive payments under the standard form of benefit described under Section 9.2(a) or under an optional form of benefit
                              (elected or deemed to have been elected by the Participant) dies prior to the commencement of benefit payments to the Participant, the terms and conditions of such election shall be null and void.  Subject to the provisions of
                              Section 9.6(b), the Participant shall have the right to elect another form of benefit payment provided such election is executed and filed with the Employee Benefits Committee prior to the Participant's death or if earlier,
                              the later of:  (i) the date the Participant's benefit payments are scheduled to commence or (ii) sixty (60) days following the date of such Beneficiary's death.  Such election shall become effective on the date of its
                              completion and filing with the Employee Benefits Committee but in no event earlier than the date the Participant's benefit payments are scheduled to commence.

                             

                            If the Beneficiary designated to receive payments under a Period Certain and Life Benefit dies after the commencement of payments to the Participant but
                              prior to the earlier of the end of the period certain elected or the date of the Participant's death, the Participant shall, subject to the provisions of Section 9.6(b), have the right to designate another beneficiary,
                              provided such designation is executed and filed with the Employee Benefits Committee prior to the Participant's death.

                             

                            
                              
                                	
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                                      9.7

                                    	
                                      Optional Forms of Benefit Payments

                                    

                            

                             

                            	

                                  	(a)	
                                    A Participant may, in lieu of the standard form of benefit payments described in Section 9.2, elect to receive his benefit payments in any one of the following optional forms with the right to designate any person
                                      or persons as a Beneficiary.  Benefits under any optional form other than a Straight Life Annuity shall be the Actuarial Equivalent of those benefits which would have been provided as a Straight Life Annuity.

                                  

                             

                            	

                                  	(i)	
                                    "Straight Life Annuity" ‐ A benefit payable in equal monthly installments to the Participant for his life with no benefits payable after his death.

                                  

                             

                            	

                                  	(ii)	
                                    "100% Joint and Survivor Benefit" ‐ A benefit payable in equal monthly installments to the Participant for his lifetime with the same benefit continuing after his death to and for the lifetime of a surviving
                                      Beneficiary.

                                  

                             

                            	

                                  	(iii)	
                                    "75% Joint and Survivor Benefit" - Effective for Plan Years commencing after December 31, 2007, a benefit payable in equal monthly installments to the Participant for his lifetime with a benefit equal to
                                      three-quarters (3/4) the benefit paid to the Participant continuing after his death to and for the lifetime of a surviving Beneficiary.

                                  

                             

                            	

                                  	(iv)	
                                    "50% Joint and Survivor Benefit" ‐ A benefit payable in equal monthly installments to the Participant for his lifetime with a benefit equal to one‐half (1/2) the benefit paid to the Participant continuing after his
                                      death to and for the lifetime of a surviving Beneficiary.

                                  

                             

                            	

                                  	(v)	
                                    "Period Certain and Life Benefit" - A benefit payable in equal monthly installments to the Participant for his lifetime.  If the Participant's death occurs on or after the expiration of a period certain of five (5),
                                      ten (10) or fifteen (15) years, as specified by the Participant in his election of the Period Certain and Life Benefit, no further benefits will be payable.  If, however, the Participant's death occurs before
                                      expiration of the period certain, equal monthly installments in the same amount as paid to the Participant prior to his death will be paid to his designated Beneficiary for the remaining portion of such period
                                      certain.  In the event neither the Participant nor the designated Beneficiary survives to the end of said certain period, a final lump sum distribution equal to the commuted value of any unpaid installments shall be
                                      made to the estate of the last to die of (i) the Participant and (ii) his Beneficiary.

                                  

                             

                            	

                                  	(vi)	
                                    A benefit payable to the Participant for his lifetime with some other benefit payable after his death, provided that the form of benefit payment is approved by the Trustees.

                                  

                             

                            	

                                  	(b)	
                                    A Merged Plan Participant may, in lieu of the standard form of benefit payments described in Section 9.2 or any other optional form of benefit payments under Section 9.7(a), elect to receive benefit payments in any
                                      one of the following additional optional forms with the right to designate any person or persons as a Beneficiary.  Benefits under any of the following optional forms shall be the Actuarial Equivalent of those benefits
                                      which would have been provided as a Straight Life Annuity.

                                  

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            	

                                  	(i)	
                                    "100% Survivor Benefit with a Sixty Month Period Certain" ‐ A reduced benefit payable in equal monthly installments to the Participant for his lifetime with the same benefit continuing after his death to and for the
                                      lifetime of a surviving Beneficiary.  If the Participant and surviving Beneficiary die on or after the expiration of a period certain of sixty (60) months, no further benefits will be payable.  If, however, the
                                      Participant and surviving Beneficiary die before the expiration of the sixty (60) month period certain, a final lump sum distribution equal to the commuted value of any unpaid installments shall be made to the estate
                                      of the survivor of the Participant and Beneficiary.

                                  

                             

                            	

                                  	(ii)	
                                    "50% Survivor Benefit with a Sixty Month Period Certain" ‐ A reduced benefit payable in equal monthly installments to the Participant for his lifetime with a benefit equal to one-half (1/2) the benefit paid to the
                                      Participant continuing after his death to and for the lifetime of a surviving Beneficiary.  If the Participant and surviving Beneficiary die on or after the expiration of a period certain of sixty (60) months, no
                                      further benefits will be payable.  If, however, the Participant and surviving Beneficiary die before the expiration of the sixty (60) month period certain, a final lump sum distribution equal to the commuted value of
                                      any unpaid installments shall be made to the estate of the survivor of the Participant and Beneficiary.

                                  

                             

                            	

                                  	(iii)	
                                    "100% Survivor Benefit with Spousal Pop-up" ‐ A reduced benefit payable in equal monthly installments to the Participant for his lifetime with the same benefit continuing after his death to and for the lifetime of a
                                      surviving Beneficiary.  Under this option, if the Spouse of a Participant who is receiving benefits under the 100% Joint and Survivor Benefit should predecease the Participant, the amount of the benefit thereafter
                                      payable to the Participant shall be increased to the amount that the Participant would have been entitled to had he received a benefit under a Straight Life Annuity.

                                  

                             

                            	

                                  	(iv)	
                                    "50% Survivor Benefit with Spousal Pop-up" ‐ A reduced benefit payable in equal monthly installments to the Participant for his lifetime with a benefit equal to one-half (1/2) the benefit paid to the Participant
                                      continuing after his death to and for the lifetime of a surviving Beneficiary.  Under this option, if the Spouse of a Participant who is receiving benefits under the 50% Joint and Survivor Benefit should predecease the
                                      Participant, the amount of the benefit thereafter payable to the Participant shall be increased to the amount that the Participant would have been entitled to had he received a benefit under a Straight Life Annuity.

                                  

                             

                            
                              
                                	
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                                  	(v)	
                                    “Sixty Month Period Certain and Life Benefit” - A benefit payable in equal monthly installments to the Participant for his lifetime.  If the Participant's death occurs on or after the expiration of a period certain
                                      of sixty (60) months, no further benefits will be payable.  If, however, the Participant's death occurs before expiration of the period certain, equal monthly installments in the same amount as paid to the Participant
                                      prior to his death will be paid to his designated Beneficiary for the remaining portion of such period certain.  In the event neither the Participant nor the designated Beneficiary survive to the end of said certain
                                      period, a final lump sum distribution equal to the commuted value of any unpaid installments shall be made to the estate of the survivor of the Participant and Beneficiary.

                                  

                             

                            	

                                  	(c)	
                                    In addition to the optional forms of benefit payments set forth in subsection (a) above, a Financial Federal Participant may elect to receive benefit payments attributable solely to the Financial Federal Plan
                                      Benefit in any one of the following optional forms:

                                  

                             

                            	

                                  	(i)	
                                    “One Hundred Twenty Month Period Certain and Life Benefit” - A benefit payable in equal monthly installments to the Participant for his lifetime and after his death, the same equal monthly installments to his
                                      surviving contingent annuitant for his lifetime.  If both the Participant and the contingent annuitant should die before expiration of a period certain of one hundred twenty (120) months, a final lump sum distribution
                                      equal to the commuted value of any unpaid installments shall be paid to the Participant’s beneficiary, or if there is no such beneficiary, to the estate of the last to die of the Participant and his contingent
                                      annuitant (presuming the Participant to be the survivor if they should die within twenty-four hours of each other).

                                  

                             

                            A contingent annuitant is any person designated to receive a continuing allowance upon the death of a Participant under this Section 9.7(c)(i).

                             

                            	

                                  	(ii)	
                                    “Single Lump Sum Payment” – A single lump sum payment provided (I) the annual Financial Federal Plan Benefit is less than six hundred dollars (“$600”) per year on the date such benefit would otherwise commence, or
                                      (II) to any Participant at least age forty-five (45), but not older than age sixty-five (65).

                                  

                             

                            Any single lump sum payment under this Section 9.7(c)(ii) shall be calculated using an interest rate, determined by reference to the last month of a calendar
                              quarter, which rate shall be the average of the ten (10) and twenty (20) year U.S. Treasury Bond annual yields for such month, as reported in the Federal Reserve Statistical Release (G.13), rounded to the nearest five tenths
                              of one percent (.5%); provided, however, if the annual yield of twenty (20) year U.S. Treasury Bonds is not published, such rate shall be the annual yield of ten (10) year U.S. Treasury Bonds.  In the absence of the Release,
                              such annual yields may be obtained from any other source it deems appropriate.  The rate so determined shall be applicable to payments to be paid in the calendar quarter beginning three (3) months later; provided, however,
                              that effective February 8, 1999, in no event shall the lump sum value be less than that calculated using (A) the interest rate on 30-year Treasury securities for the second full calendar month preceding the first day of each
                              Plan Year, which interest rate shall remain in effect throughout such Plan Year with respect to all Plan benefits commencing during such Plan Year, and (B) the 1983 Group Annuity Mortality Table based on a fixed blend of 50%
                              of the male mortality rates and 50% of the female mortality rates as described in section 807(d)(5)(A) of the Code (without regard to any other subparagraph of Code section 807(d)(5)) or such other mortality table as may be
                              prescribed by the Secretary of the Treasury.

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            Notwithstanding the foregoing provisions, the benefit payable under any optional form of benefit to a Participant who retires on his Postponed Retirement
                              Date shall not be less than the benefit that would have been payable had the Participant retired at his Normal Retirement Date and chosen the same benefit payment form and same Beneficiary.  The preceding sentence shall not
                              take effect if the benefit payable under Section 9.7(c)(ii) to a Participant who continues in the employ of the Employer after his Normal Retirement Date is less than the benefit that would have been payable under Section
                              9.7(c)(ii) had the Participant retired on his Normal Retirement Date solely by reason of a change in the interest rate as set forth in Section 9.7(c)(ii)(A) which is used in determining the Single Lump Sum Payment.

                             

                            In no event shall any benefit payable to a Participant and his Beneficiary other than his Spouse result in benefit payments to the Participant with a lump
                              sum Actuarial Equivalent that is less than fifty-one percent (51%) of the lump sum Actuarial Equivalent of the aggregate benefit payments payable to the Participant and his Beneficiary, determined as of the effective date of
                              the election.

                             

                            	

                                  	(d)	
                                    Effective as of March 28, 2005, except with respect to Section 9.7(c)(ii), a Lump Sum Benefit shall be available to a Participant only if the present value of such Participant’s nonforfeitable Accrued Benefit is
                                      greater than one thousand dollars ($1,000) and less than or equal to five thousand dollars ($5,000).  A Participant who is eligible to receive a Lump Sum Benefit may elect to have such benefit commence on the first day
                                      of any calendar month coincident with or next following the date the Participant incurs a Termination of Service.

                                  

                             

                            No Lump Sum Benefit shall be increased on account of any delay in payment due to the Participant's failure to properly file the required forms furnished by
                              the Employee Benefits Committee or to otherwise accept such payment.

                             

                            
                              	
                                      9.8

                                    	
                                      Cash Out of Certain Benefits

                                    

                            

                             

                            	

                                  	(a)	
                                    Neither an application form nor the consent of the Participant or the Participant's Spouse is required for a distribution under the provisions of this Section 9.8(a).

                                  

                             

                            If a Participant whose present value of his nonforfeitable Accrued Benefit is equal to or less than one thousand dollars ($1,000), incurs a Termination of
                              Service when entitled to a Retirement Benefit under the provisions of this Plan, the Participant shall automatically receive a distribution of the present value of his nonforfeitable Accrued Benefit.

                             

                            If a married Participant (A) is entitled to a Vested Retirement Benefit or (B) has satisfied the requirements for a Preretirement Survivor Annuity or a Post
                              Termination Survivor Annuity and such Participant dies prior to the commencement of benefits when the present value of his nonforfeitable Accrued Benefit is equal to or less than five thousand dollars ($5,000), the
                              Participant's Spouse shall automatically receive a distribution of the present value of such benefit otherwise payable to the surviving Spouse.

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            Notwithstanding the foregoing paragraphs, if the present value of the vested Accrued Benefit under this Section 9.8(a) is zero (0), the Participant or, if
                              applicable, the Participant's Spouse, shall be deemed to have received a distribution of the vested Accrued Benefit.

                             

                            The present value of the Accrued Benefit under this Section 9.8(a) shall be calculated as of the date of distribution (I) using the Applicable Mortality
                              Table and the Applicable Interest Rate set forth in Section E. of Appendix A, and (II) assuming the vested benefit is a Straight Life Annuity payable to the Participant at his Normal Retirement Date or, if applicable, his
                              Postponed Retirement Date.

                             

                            	

                                  	(b)	
                                    In the case of a surviving Spouse entitled to a distribution where (i) the present value of the deceased Participant's nonforfeitable Accrued Benefit was greater than five thousand dollars ($5,000) and (ii) the
                                      present value of the benefit otherwise payable to the surviving Spouse is equal to or less than five thousand dollars ($5,000), the Employee Benefits Committee may, with the written consent of the surviving Spouse,
                                      distribute the present value of such benefit otherwise payable to the surviving Spouse in a single lump sum.  Such present value shall be calculated (A) using the Applicable Mortality Table and the Applicable Interest
                                      Rate set forth in Section E. of Appendix A, and (B) assuming the benefit is a Straight Life Annuity payable to the surviving Spouse at the later of:  (I) the Participant's Normal Retirement Date or, if applicable,
                                      Postponed Retirement Date or (II) the death of the Participant, based on the Spouse's age on such date.

                                  

                             

                            	

                                  	(c)	
                                    If the present value of his nonforfeitable Accrued Benefit is equal to or less than  one thousand dollars ($1,000) for a Retired Participant or a Beneficiary of a Retired Participant, such Retired Participant or
                                      Beneficiary of a Retired Participant shall automatically receive a distribution of the present value of his nonforfeitable Accrued Benefit.

                                  

                             

                            	

                                  	(d)	
                                    For purposes of Sections 9.8(a) and (c), in the case of benefits payable in the form of (i) a Preretirement Survivor Annuity under Section 7.7(a), (ii) a Joint and Survivor Annuity, as described in Section
                                      9.7(a)(ii), (iii) or (iv) or 9.7(b)(i), (ii), (iii) or (iv) with the Participant’s Spouse as beneficiary, if the present value of the nonforfeitable Accrued Benefit at the time of any distribution exceeds five thousand
                                      dollars ($5,000), the present value of the Accrued Benefit at any subsequent time will be deemed to exceed five thousand dollars ($5,000).  In addition, if the Participant has begun to receive distributions pursuant to
                                      a form of benefits under which at least one scheduled periodic distribution is still payable, and the present value of the Participant’s nonforfeitable Accrued Benefit exceeded the five thousand dollar ($5,000) cash
                                      out limit at the time of the first distribution under that optional form, the present value of the Accrued Benefit at any subsequent time will be deemed to exceed five thousand dollars ($5,000).  In all other cases, if
                                      the present value of a Participant’s nonforfeitable Accrued Benefit determined at the time of any distribution, is equal to or less than five thousand dollars ($5,000), such Participant, or if applicable, a deceased
                                      Participant’s beneficiary, shall automatically receive a distribution of the full present value of the nonforfeitable Accrued Benefit.  Such determination shall be made without regard to the present value of the
                                      Participant’s benefit at the time of any earlier distribution.

                                  

                             

                            
                              
                                	
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                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            
                              	
                                      9.9

                                    	
                                      Direct Rollover of Eligible Rollover Distributions

                                    

                            

                             

                            Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee’s election under this section, a Distributee may elect, at the time and in
                              the manner prescribed by the Employee Benefits Committee, to have any portion of an Eligible Rollover Distribution that is equal to at least five hundred dollars ($500) paid directly to an Eligible Retirement Plan specified by
                              the Distributee in a Direct Rollover.  If an Eligible Rollover Distribution is less than five hundred dollars ($500), a Distributee may not make the election described in the preceding sentence to rollover a portion of the
                              Eligible Rollover Distribution.  For purposes of this section, the following definitions shall apply:

                             

                            	

                                  	(a)	
                                    "Direct Rollover" means a payment by the Plan to the Eligible Retirement Plan specified by the Distributee.

                                  

                             

                            	

                                  	(b)	
                                    "Distributee" means an Employee or former Employee.  In addition, the Employee's or former Employee's surviving Spouse and the Employee's or former Employee's Spouse or former spouse who is the alternate payee under
                                      a qualified domestic relations order, as defined in Section 414(p) of the Code, are Distributees with regard to the interest of the Spouse or former spouse.  Effective for Eligible Rollover Distributions made after
                                      December 31, 2008, a Distributee shall also include the Employee’s nonspouse designated Beneficiary.  In the case of a nonspouse designated Beneficiary, the Direct Rollover may be made only to an individual retirement
                                      account or annuity described in Code Section 408(a) or Code Section 408(b) (“IRA”) that is established on behalf of the designated Beneficiary and that will be treated as an inherited IRA pursuant to the provisions of
                                      Code Section 402(c)(11).  In addition, in this case, the determination of any required minimum distribution under Code Section 401(a)(9) that is ineligible for rollover shall be made in accordance with Notice 2007-7,
                                      Q&A 17 and 18, 2007-51 I.R.B. 395.

                                  

                             

                            	

                                  	(c)	
                                    "Eligible Retirement Plan" means (i) an individual retirement account described in Section 408(a) of the Code, (ii) an individual retirement annuity described in Section 408(b) of the Code, (iii) for distributions
                                      made after December 31, 2007, a Roth IRA described in Section 408A(e) of the Code, however, for distributions made prior to January 1, 2010, a Participant shall be subject to income limitations, (iv) an annuity plan
                                      described in Section 403(a) of the Code, (v) a qualified defined contribution plan described in Section 401(a) of the Code, (vi) an annuity contract described in Section 403(b) of the Code, and (vii) an eligible plan
                                      under Section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account
                                      for amounts transferred into such plan from this Plan, that accepts the Distributee's Eligible Rollover Distribution.  However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible
                                      Retirement Plan is an individual retirement account or individual retirement annuity.  The definition of Eligible Retirement Plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or
                                      former spouse who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code.

                                  

                             

                            
                              
                                	
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                                  	(d)	
                                    "Eligible Rollover Distribution" means any distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include:  any distribution that
                                      is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the
                                      Distributee and the Distributee's designated Beneficiary, or for a specified period of ten (10) years or more; any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; the
                                      portion of any distribution that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities); and any other distributions(s) that
                                      is reasonably expected to total less than two hundred dollars ($200) during a year.

                                  

                             

                            A portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists of after-tax contributions which are not includable in
                              gross income.  However, such portion may be transferred only to (i) an individual retirement account or individual retirement annuity described in Section 408(a) or (b) of the Code; (ii) for taxable years commencing after
                              December 31, 2001 and before January 1, 2007, to a qualified trust which is part of a defined contribution plan that agrees to separately account for amounts so transferred, including separately accounting for the portion of
                              such distribution which is includible in gross income and the portion of such distribution which is not so includible; or (iii) for taxable years commencing after December 31, 2006, to a qualified plan or to an annuity
                              contract described in Code Section 403(b), if such plan or contract provides for separate accounting for amounts so transferred (including interest thereon), including separately accounting for the portion of such distribution
                              which is includible in gross income and the portion of such distribution which is not so includible.

                             

                            Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee's election under this Section, a Distributee may elect, at the time and in
                              the manner prescribed by the Plan Administrator, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover.

                             

                            
                              	
                                      9.10

                                    	
                                      Commencement of Benefits

                                    

                            

                             

                            	

                                  	(a)	
                                    The initial monthly payment shall be due and payable to a Retired Participant on the first day of the calendar month coincident with or next following the date on which benefit payments under the Plan are scheduled
                                      to commence.  Subject to the specific provisions of any optional form of benefit payments, if monthly payments to the Retired Participant commenced prior to his death, the initial monthly payment to a Beneficiary shall
                                      be due and payable on the first day of the calendar month following the Participant's death.

                                  

                             

                            
                              
                                	
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                                  	(b)	
                                    If a Participant dies prior to the commencement of benefit payments, his entire interest shall be distributed solely in accordance with Section 7.7.

                                  

                             

                            	

                                  	(c)	
                                    Distributions to 5-percent owners:

                                  

                             

                            The vested interest in the Accrued Benefit of a 5-percent owner (as described in Section 416(i) of the Code and determined with respect to the Plan Year
                              ending in the calendar year in which such individual attains age seventy and one-half (70-1/2)) must be distributed or commence to be distributed no later than the first day of April following the calendar year in which such
                              individual attains age seventy and one-half (70-1/2).  The vested interest in the Accrued Benefit of a person who is not a 5-percent owner (as described in Section 416(i) of the Code) for the Plan Year ending in the calendar
                              year in which such person attains age seventy and one-half (70-1/2) but who becomes a 5-percent owner (as described in Section 416(i) of the Code) for a later Plan Year must be distributed or commence to be distributed no
                              later than the first day of April following the last day of the calendar year that includes the last day of the first Plan Year for which such individual is a 5-percent owner (as described in Section 416(i) of the Code).

                             

                            	

                                  	(d)	
                                    Distributions to other than 5-percent owners:

                                  

                             

                            Except as otherwise provided in the following paragraph, the vested interest in the Accrued Benefit of any Employee who attains age seventy and one‐half
                              (70‐1/2), must be distributed or commence to be distributed no later than the first day of April following the calendar year in which such individual attains age seventy and one‐half (70‐1/2).

                             

                            An Employee otherwise required to receive a distribution under the preceding paragraph, may elect to defer distribution of the Accrued Benefit to the date of
                              his termination of employment without spousal consent.  In addition, no spousal consent is required when payments recommence to the Employee, if payments recommence to the Employee with the same Beneficiary and in a form of
                              benefit that is the same, but for the cessation of distributions hereunder.

                             

                            Notwithstanding the foregoing, the vested interest in the Accrued Benefit of (I) any Employee who becomes a Participant or (II) any Employee who attains age
                              seventy and one‐half (70‐1/2) in a calendar year beginning on or after the adoption date of the amendment addressing benefit commencement, must be distributed or commence to be distributed no later than the first day of April
                              following the calendar year in which occurs the later of: (1) his termination of employment or (2) his attainment of age seventy and one-half (70-1/2).

                             

                            Notwithstanding any provisions of the Plan to the contrary, any and all distributions from the Plan shall be made in accordance with Section 401(a)(9) of the Code and the
                              requirements of Income Tax Regulations issued under Code Section 401(a)(9).

                             

                            
                              	
                                      9.11

                                    	
                                      Minimum Distribution Requirements

                                    

                            

                             

                            	

                                  	(a)	
                                    General Rules

                                  

                             

                            	

                                  	(i)	
                                    Effective Date and Precedence.  The provisions of this Section 9.11 will apply for purposes of determining required minimum distributions.  Subject to the Joint and Survivor Annuity requirements of this Article IX,
                                      the requirements of this Section 9.11, will take precedence over any inconsistent provisions of the Plan.

                                  

                             

                            
                              
                                	
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                                  	(ii)	
                                    Requirements of Income Tax Regulations Incorporated.  All distributions required under this Section 9.11 will be determined and made in accordance with Section 401(a)(9) of the Code, including the incidental death
                                      benefit requirement in Code Section 401(a)(9)(G) and the Regulations thereunder.

                                  

                             

                            	

                                  	(iii)	
                                    Limits on Distribution Periods.  As of the first distribution calendar year, distributions to a Participant, if not made in a single sum, may only be made over one of the following periods:

                                  

                             

                            	

                                  	(A)	
                                    the life of the Participant;

                                  

                             

                            	

                                  	(B)	
                                    the joint lives of the Participant and the designated Beneficiary;

                                  

                             

                            	

                                  	(C)	
                                    a period certain not extending beyond the life expectancy of the Participant; or

                                  

                             

                            	

                                  	(D)	
                                    a period certain not extending beyond the joint life and last survivor expectancy of the Participant and the designated Beneficiary.

                                  

                             

                            	

                                  	(iv)	
                                    TEFRA Section 242(b)(2) Elections.  Notwithstanding the other requirements of this Section 9.11 other than Section 9.11(a)(iii), and subject to the Joint and Survivor Annuity requirements of this Article IX,
                                      distribution on behalf of any Employee, including a 5-percent owner, who has made a designation under Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (“TEFRA”) (“Section 242(b)(2) election”) may be
                                      made in accordance with all of the following requirements (regardless of when such distribution commences):

                                  

                             

                            	

                                  	(A)	
                                    The distribution by the Plan is one (1) which would not have disqualified such Plan under Code Section 401(a)(9) as in effect prior to amendment by the Deficit Reduction Act of 1984.

                                  

                             

                            	

                                  	(B)	
                                    The distribution is in accordance with a method of distribution designated by the Employee whose interest in the Plan is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee.

                                  

                             

                            	

                                  	(C)	
                                    Such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984.

                                  

                             

                            	

                                  	(D)	
                                    The Employee had accrued a benefit under the Plan as of December 31, 1983.

                                  

                             

                            	

                                  	(E)	
                                    The method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution
                                      upon the Employee’s death, the Beneficiaries of the Employee listed in order of priority.

                                  

                             

                            
                              
                                	
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                                  	(v)	
                                    A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon
                                      the death of the Employee.

                                  

                             

                            	

                                  	(vi)	
                                    For any distribution which commenced prior to January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated
                                      the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in Sections 9.11(a)(iv)(A) and
                                      9.11(a)(iv)(E).

                                  

                             

                            	

                                  	(vii)	
                                    If a designation is revoked any subsequent distribution must satisfy the requirements  of Code Section 401(a)(9) and the Regulations thereunder.  If a designation is revoked subsequent to the date distributions are
                                      required to begin, the Plan must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been
                                      distributed to satisfy Code Section 401(a)(9) and the Regulations thereunder, but for the Section 242(b)(2) election.  Such distributions must meet the minimum distribution incidental benefit requirements.  Any changes
                                      in the designation will be considered a revocation of the designation.  However, the mere substitution or addition of another beneficiary (one not named in the designation) under the designation will not be considered
                                      to be revocation of the designation, as long as such substitution or addition does not alter the period over which distributions are to be made under the designation, directly or indirectly (for example by altering the
                                      relevant measuring life).

                                  

                             

                            	

                                  	(viii)	
                                    In the case in which an amount is transferred or rolled over from one (1) plan to another plan, the rules in Regulations Section 1.401(a)(9)-8, Q&A-14 and Q&A-15 shall apply.

                                  

                             

                            	

                                  	(b)	
                                    Time and Manner of Distribution

                                  

                             

                            	

                                  	(i)	
                                    Required Beginning Date.  The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s Required Beginning Date.

                                  

                             

                            	

                                  	(ii)	
                                    Death of Participant Before Distributions Begin.  If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:

                                  

                             

                            	

                                  	(A)	
                                    If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary, distributions to the surviving Spouse will begin by December 31 of the calendar year immediately following the calendar year in
                                      which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age seventy and one-half (70-1/2), if later.

                                  

                             

                            
                              
                                	
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                                  	(B)	
                                    If the Participant’s surviving Spouse is not the Participant’s sole Designated Beneficiary, distributions to the Designated Beneficiary will begin by December 31 of the calendar year immediately following the
                                      calendar year in which the Participant died.

                                  

                             

                            	

                                  	(C)	
                                    If there is no Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year
                                      containing the fifth (5th) anniversary of the Participant’s death.

                                  

                             

                            	

                                  	(D)	
                                    If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, this Section
                                      9.11(b)(ii), other than Section 9.11(b)(ii)(A), will apply as if the surviving Spouse were the Participant.

                                  

                             

                            For purposes of this Section 9.11(b)(ii) and Section 9.11(e), distributions are considered to begin on the Participant’s Required Beginning Date (or, if
                              Section 9.11(b)(ii)(D) applies, the date distributions are required to begin to the surviving Spouse under Section 9.11(b)(ii)(A)).  If annuity payments irrevocably commence to the Participant before the Participant’s Required
                              Beginning Date (or to the Participant’s surviving Spouse before the date distributions are required to begin to the surviving Spouse under Section 9.11(b)(ii)(A)), the date distributions are considered to begin is the date
                              distributions actually commence.

                             

                            	

                                  	(iii)	
                                    Election to Apply 5-Year Rule to Distributions to Designated Beneficiaries.  If the Participant dies before distributions begin and there is a Designated Beneficiary, distribution to the Designated Beneficiary is
                                      not required to begin by the date specified in Section 9.11(b)(ii), but the Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of the calendar year containing the fifth (5th)
                                      anniversary of the Participant’s death.  If the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to either the
                                      Participant or the surviving Spouse begin, this election will apply as if the surviving Spouse were the Participant.

                                  

                             

                            	

                                  	(iv)	
                                    Election to Allow Participants or Beneficiaries to Elect 5-Year Rule.  Participants or Beneficiaries may elect on an individual basis whether the 5-year rule or the Life Expectancy rule in Sections 9.11(b)(ii) and
                                      9.11(d)(ii) applies to distributions after the death of a Participant who has a Designated Beneficiary.  The election must be made no later than the earlier of September 30 of the calendar year in which distribution
                                      would be required to begin under Section 9.11(b)(ii), or by September 30 of the calendar year which contains the fifth (5th) anniversary of the Participant’s (or, if applicable, surviving Spouse's) death. 
                                      If neither the Participant nor Beneficiary makes an election under this subsection, distributions will be made in accordance with Sections 9.11(b)(ii) and 9.11(d)(ii) and, if applicable, the elections in Section
                                      9.11(b)(iii) above.

                                  

                             

                            
                              
                                	
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                                  	(v)	
                                    Election to Allow Designated Beneficiary Receiving Distributions Under 5-Year Rule to Elect Life Expectancy Distributions.  A Designated Beneficiary who is receiving payments under the 5-year rule may make a new
                                      election to receive payments under the Life Expectancy rule until December 31, 2003, provided that all amounts that would have been required to be distributed under the Life Expectancy rule for all Distribution
                                      Calendar Years before 2004 are distributed by the earlier of December 31, 2003 or the end of the 5-year period.

                                  

                             

                            	

                                  	(vi)	
                                    Form of Distribution.  Unless the Participant’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the Required Beginning Date, as of the first
                                      distribution calendar year distributions will be made in accordance with Sections 9.11(c), (d) and (e).  If the Participant’s interest is distributed in the form of an annuity purchased from an insurance company,
                                      distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury regulations.  Any part of the Participant’s interest which is in the form of an individual
                                      account described in Section 414(k) of the Code, if applicable, will be distributed in a manner satisfying the requirements of Section 401(a)(9) of the Code and the Treasury regulations that apply to individual
                                      accounts.

                                  

                             

                            	

                                  	(c)	
                                    Determination of Amount to be Distributed Each Year

                                  

                             

                            	

                                  	(i)	
                                    General Annuity Requirements.  If the Participant’s interest is paid in the form of annuity distributions under the Plan, payments under the annuity will satisfy the following requirements:

                                  

                             

                            	

                                  	(A)	
                                    the annuity distributions will be paid in periodic payments made at intervals not longer than one year;

                                  

                             

                            	

                                  	(B)	
                                    the distribution period will be over a life (or lives) or over a period certain not longer than the period described in Section 9.11(d) or (e);

                                  

                             

                            	

                                  	(C)	
                                    once payments have begun over a period certain, the period certain will not be changed, even if the period certain is shorter than the maximum permitted; and

                                  

                             

                            	

                                  	(D)	
                                    payments will either be nonincreasing or increase only as follows:

                                  

                             

                            	

                                  	(I)	
                                    by an annual percentage increase that does not exceed the percentage increase in an eligible cost-of-living index for a twelve (12) month period ending in the year during which the increase occurs or a prior year.

                                  

                             

                            	

                                  	(II)	
                                    by a percentage increase that occurs at specified times and does not exceed the cumulative total of annual percentage increases in an eligible cost-of-living index since the annuity starting date, or if later, the
                                      date of the most recent percentage increase;

                                  

                             

                            
                              
                                	
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                                  	(III)	
                                    by a constant percentage of less than five percent (5%) per year, applied not less frequently than annually;

                                  

                             

                            	

                                  	(IV)	
                                    as a result of dividend or other payments that result from actuarial gains, provided:

                                  

                             

                            	

                                  	(1)	
                                    actuarial gain is measured not less frequently than annually;

                                  

                             

                            	

                                  	(2)	
                                    the resulting dividend or other payments are either paid no later than the year following the year for which the actuarial experience is measured or paid in the same form as the payment of the annuity over the
                                      remaining period of the annuity (beginning no later than the year following the year for which the actuarial experience is measured;

                                  

                             

                            	

                                  	(3)	
                                    the actuarial gain taken into account is limited to actuarial gain from investment experience;

                                  

                             

                            	

                                  	(4)	
                                    the assumed interest rate used to calculate such actuarial gains is not less than three percent (3%); and

                                  

                             

                            	

                                  	(5)	
                                    the annuity payments are not increased by a constant percentage as described in Section 9.11(c)(i)(D)(III);

                                  

                             

                            	

                                  	(V)	
                                    to the extent of the reduction in the amount of the Participant’s payments to provide for a survivor benefit, but only if there is no longer a survivor benefit because the Beneficiary whose life was being used to
                                      determine the distribution period in Section 9.11(c)(i)(D)(IV) dies or is no longer the Participant’s Beneficiary pursuant to a qualified domestic relations order within the meaning of Code Section 414(p);

                                  

                             

                            	

                                  	(VI)	
                                    to provide a final payment upon the Participant’s death not greater than the excess of the actuarial present value of the Participant’s Accrued Benefit (within the meaning of Code Section 411(a)(7)) calculated as of
                                      the annuity starting date using the Applicable Interest Rate and the Applicable Mortality Table defined in Section E. of Appendix A (or if greater, the total amount of employee contributions) over the total of payments
                                      before the Participant’s death;

                                  

                             

                            	

                                  	(VII)	
                                    to allow a Beneficiary to convert the survivor portion of a joint and survivor annuity into a single sum distribution upon the Participant’s death; or

                                  

                             

                            	

                                  	(VIII)	
                                    to pay increased benefits that result from a plan amendment.

                                  

                             

                            
                              
                                	
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                                  	(ii)	
                                    Amount Required to be Distributed by Required Beginning Date.  The amount that must be distributed on or before the Participant’s Required Beginning Date (or, if the Participant dies before distributions begin, the
                                      date distributions are required to begin under Section 9.11(b)(ii)(A) or (B)) is the payment that is required for one payment interval.  The second payment need not be made until the end of the next payment interval,
                                      even if that payment interval ends in the next calendar year.  Payment intervals are the periods for which payments are received; e.g., bi-monthly, monthly, semi-annually, or
                                      annually.  All of a Participant’s benefit accruals as of the last day of the first distribution calendar year will be included in the calculation of the amount of the annuity payments for payment intervals ending on or
                                      after the Participant’s Required Beginning Date.

                                  

                             

                            	

                                  	(iii)	
                                    Additional Accruals After First Distribution Calendar Year.  Any additional benefits accruing to the Participant in a calendar year after the first distribution calendar year will be distributed beginning with the
                                      first payment interval ending in the calendar year immediately following the calendar year in which such amount accrues.

                                  

                             

                            	

                                  	(d)	
                                    Requirements For Annuity Distributions That Commence During Participant’s Lifetime

                                  

                             

                            	

                                  	(i)	
                                    Joint Life Annuities Where the Beneficiary Is Not the Participant’s Spouse.  If the Participant’s interest is being distributed in the form of a joint and survivor annuity for the joint lives of the Participant and
                                      a nonspouse Designated Beneficiary, annuity payments to be made on or after the Participant’s Required Beginning Date to the Designated Beneficiary after the Participant’s death must not at any time exceed the
                                      applicable percentage of the annuity payment for such period that would have been payable to the Participant using the table set forth in Treasury Regulations Section 1.401(a)(9)-6, Q&A-2(c)(2), in the manner
                                      described in Q&A-2(c)(1).  If the form of distribution combines a joint and survivor annuity for the joint lives of the Participant and a nonspouse Designated Beneficiary and a period certain annuity, the
                                      requirement in the preceding sentence will apply to annuity payments to be made to the Designated Beneficiary after the expiration of the period certain.

                                  

                             

                            	

                                  	(ii)	
                                    Period Certain Annuities.  Unless the Participant’s Spouse is the sole Designated Beneficiary and the form of distribution is a period certain and no life annuity, the period certain for an annuity distribution
                                      commencing during the Participant’s lifetime may not exceed the applicable distribution period for the Participant under the Uniform Lifetime Table set forth in Income Tax Regulations Section 1.401(a)(9)-9, Q&A-2
                                      for the calendar year that contains the annuity starting date.  If the annuity starting date precedes the year in which the Participant reaches age seventy (70), the applicable distribution period for the Participant
                                      is the distribution period for age seventy (70) under the Uniform Lifetime Table set forth in Income Tax Regulations Section 1.401(a)(9)-9, Q&A-2 plus the excess of seventy (70) over the age of the Participant as
                                      of the Participant’s birthday in the year that contains the annuity starting date.  If the Participant’s Spouse is the Participant’s sole Designated Beneficiary and the form of distribution is a period certain and no
                                      life annuity, the period certain may not exceed the longer of the Participant’s applicable distribution period, as determined under this Section 9.11(d)(ii), or the joint life and last survivor expectancy of the
                                      Participant and the Participant’s Spouse as determined under the Joint and Last Survivor Table set forth in Income Tax Regulations Section 1.401(a)(9)-9, Q&A-3, using the Participant’s and Spouse's attained ages as
                                      of the Participant’s and Spouse's birthdays in the calendar year that contains the annuity starting date.

                                  

                             

                            
                              
                                	
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                                  	(e)	
                                    Requirements For Minimum Distributions Where Participant Dies After the Date Distributions Begin

                                  

                             

                            Death After Distributions Begin.  If the Participant dies after distribution of his interest begins in the form of an annuity meeting the requirements of
                              this Section 9.11, the remaining portion of the Participant’s interest shall continue to be distributed over the remaining period over which distributions commenced.

                             

                            	

                                  	(f)	
                                    Definitions

                                  

                             

                            For purposes of this Section 9.11, the following words and phrases shall have the meanings hereafter ascribed to them:

                             

                            	

                                  	(i)	
                                    Designated Beneficiary.  The individual who is designated by the Participant (or the Participant’s surviving spouse) as the Beneficiary of the Participant’s interest under the Plan and who is the Designated
                                      Beneficiary under Section 401(a)(9) of the Code and Income Tax Regulations Section 1.401(a)(9)-4.

                                  

                             

                            	

                                  	(ii)	
                                    Distribution Calendar Year.  A calendar year for which a minimum distribution is required.  For distributions beginning before the Participant’s death, the first Distribution Calendar Year is the calendar year
                                      immediately preceding the calendar year which contains the Participant’s Required Beginning Date.  For distributions beginning after the Participant’s death, the first Distribution Calendar Year is the calendar year in
                                      which distributions are required to begin pursuant to Section 9.11(b)(ii).

                                  

                             

                            	

                                  	(iii)	
                                    Life Expectancy.  Life Expectancy as calculated by use of the Single Life Table in Income Tax Regulations Section 1.401(a)(9)-9, Q&A-1.

                                  

                             

                            	

                                  	(iv)	
                                    Required Beginning Date.  The date specified in Section 9.10(c) or (d), whichever is applicable.

                                  

                             

                            	

                                  	(v)	
                                    Actuarial Gain.  The difference  between an amount determined using the actuarial assumptions (i.e.) investment return, mortality, expense and other similar assumptions) used to calculate the initial payments before
                                      adjustment for any increases and the amount determined under the actual experience with respect to those factors.  Actuarial Gain also includes differences between the amount determined using actuarial assumptions when
                                      an annuity was purchased or commenced and such amount determined using actuarial assumptions used in calculating payments at the time the Actuarial Gain is determined.

                                  

                             

                            
                              
                                	
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                                  	(vi)	
                                    Eligible Cost-of-Living Index.  An index described in Sections (b)(2), (b)(3) or (b)(4) of Regulations 1.401(a)(9)-6, Q&A-14.

                                  

                             

                            
                              	
                                      9.12

                                    	
                                      Latest Commencement Date of Plan Benefits

                                    

                            

                             

                            Unless the Participant otherwise elects in accordance with the Plan provisions, the payment of Plan benefits shall commence not later than the sixtieth (60th) day after the
                              end of the Plan Year in which the latest of the following occurs:  (a) the date on which the Participant attains age sixty‐five (65), (b) the tenth (10th) anniversary of the time a Participant was enrolled in the Plan or the
                              Prior Plan, or (c) the Participant's Termination of Service with the Employer.

                             

                            
                              	
                                      9.13

                                    	
                                      Suspension of Benefits

                                    

                            

                             

                            The provisions of Sections 9.13(a) through (j) shall apply provided the Employer provides the notification described in Section 9.13(b).  In the event the Employer does not
                              provide the notification described in Section 9.13(b), the provisions provided under Sections 9.13(k) and (l) shall apply.  Notwithstanding the preceding sentences, effective February 1, 2014, this Section 9.13 shall not apply
                              to any Participant who is receiving In-Service Distributions pursuant to Section 9.14.

                             

                            	

                                  	(a)	
                                    Subject to the provisions of Section 9.10 and notwithstanding any other provisions contained in the Plan to the contrary, (i) a Retired Participant receiving benefits who is reemployed by the Employer or an
                                      Affiliated Employer which is a Participating Employer or (ii) a Participant who continues in the employment of the Employer or an Affiliated Employer which is a Participating Employer beyond his Normal Retirement Date,
                                      shall not be entitled to receive benefit payments for any month during which he completes at least forty (40) Hours of Service (increased to one hundred (100) Hours of Service, effective October 8, 1998) in Section
                                      203(a)(3)(B) service without regard to any use of equivalencies set forth in Article I under the definition of Hours of Service.  Consequently, the amount of benefits which are paid later than Normal Retirement Age
                                      will be computed as if the Participant had been receiving benefits since Normal Retirement Age.

                                  

                             

                            	

                                  	(b)	
                                    No payments shall be withheld under this provision unless the Participant is notified of such suspension of benefits by personal delivery, first class mail or other delivery method permitted under Department of
                                      Labor Regulations Section 2530.203-3 during the first calendar month or payroll period in which payments are to be suspended.  Such notification shall contain a description of the specific reasons why benefit payments
                                      are being suspended, a description of the Plan provision relating to the suspension of payments, a copy of such provisions, and a statement to the effect that applicable Department of Labor regulations may be found in
                                      Section 2530.203‐3 of the Code of Federal Regulations.

                                  

                             

                            	

                                  	(c)	
                                    The amount suspended shall be:

                                  

                             

                            	

                                  	(i)	
                                    In the case of benefits payable periodically on a monthly basis for as long as a life (or lives) continues, such as a Straight Life Annuity or a qualified Joint and Survivor Benefit, an amount equal to the portion
                                      of a monthly benefit derived from Employer contributions.

                                  

                             

                            
                              
                                	
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                                  	(ii)	
                                    In the case of a benefit payable in a form other than the form described in subsection (i) above, an amount from the Employer provided portion of benefit payments for a calendar month in which the Employee is
                                      employed in Section 203(a)(3)(B) service, equal to the lesser of:

                                  

                             

                            	

                                  	(A)	
                                    The amount of benefits which would have been payable to the Employee if he had been receiving monthly benefits under the Plan since actual retirement based on a Straight Life Annuity commencing at actual retirement
                                      age; or

                                  

                             

                            	

                                  	(B)	
                                    The actual amount paid or scheduled to be paid to the Employee for such month.  Payments scheduled to be paid less frequently than monthly may be converted to monthly payments for purposes of the above sentence.

                                  

                             

                            	

                                  	(d)	
                                    In addition, the notice shall inform the Participant of the Plan's procedures for affording a review of the suspension of benefits.  Requests for such reviews may be considered in accordance with the claims
                                      procedure adopted by the Plan pursuant to Section 503 of ERISA and applicable regulations.

                                  

                             

                            	

                                  	(e)	
                                    In the event a Retired Participant or a Financial Federal Participant is subsequently reemployed and his benefit payments are suspended in accordance with this Section 9.13, subject to the provisions of Section
                                      9.13(g), he shall be credited with any Vested Service, Credited Service or, if applicable, the amount of any remaining Financial Federal Plan Benefit to which he was entitled
                                      when he previously retired.

                                  

                             

                            	

                                  	(f)	
                                    If the benefit payments are suspended under this Section 9.13, benefit payments shall commence or, if applicable, resume no later than the first day of the third calendar month following the first calendar month in
                                      which the Participant fails to complete at least forty (40) Hours of Service (increased to one hundred (100) Hours of Service, effective October 8, 1998) without regard to any use of equivalencies set forth in Article
                                      I under the definition of Hours of Service.  If payments were suspended for less than twelve (12) consecutive months, the prior form of benefit payment shall be reinstated.  Otherwise, the provisions of Sections 9.2
                                      and 9.6 shall again become operative.

                                  

                             

                            	

                                  	(g)	
                                    Any Retirement Benefit payable under this Section 9.13 shall be based on Compensation and Credited Service before and after the period of his previous retirement, reduced by an amount equal to the Actuarial
                                      Equivalent of those benefit payments received by the Participant.  Notwithstanding the foregoing, upon a Participant's subsequent retirement, that portion of his Retirement Benefit payable with respect to Credited
                                      Service before his prior retirement shall not be less than his previous Retirement Benefit modified, if applicable, to reflect any new election.

                                  

                             

                            	

                                  	(h)	
                                    Notwithstanding the provisions of Sections 9.13(e) and 9.13(g), if a Retired Participant who is reemployed had received his Retirement Benefit attributable to his previous Credited Service in the form of a lump sum
                                      payment pursuant to the provisions of Section 9.8(a) or, if applicable, his Financial Federal Plan Benefit in the form of a lump sum payment pursuant to the provisions of Section 9.7(c)(ii), such previous Credited
                                      Service or, if applicable, his Financial Federal Plan Benefit shall be disregarded in determining the Retirement Benefit upon such Retired Participant's subsequent retirement unless:

                                  

                             

                            
                              
                                	
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                                              Article IX -

                                            

                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            	

                                  	(i)	
                                    the Retired Participant received a lump sum payment in lieu of a Vested Retirement Benefit; and

                                  

                             

                            	

                                  	(ii)	
                                    such Participant's Vested Percentage under the Plan at the time of the lump sum payment was less than one hundred percent (100%); and

                                  

                             

                            	

                                  	(iii)	
                                    such Participant repays to the Plan, the amount of such lump sum payment, together with interest thereon at the lesser of the rate of five percent (5%) per year, compounded annually or the rate determined under
                                      Section 411(c)(2)(C) of the Code, compounded annually.  Such repayment must be made no later than the earlier of:

                                  

                             

                            	

                                  	(A)	
                                    the fifth (5th) anniversary of his reemployment date with the Employer, or

                                  

                             

                            	

                                  	(B)	
                                    the last day of a Period of Severance of five (5) consecutive years determined from the date the lump sum payment was paid to him,

                                  

                             

                            in which case, such previous Credited Service shall be taken into account.

                             

                            	

                                  	(i)	
                                    If a Participant received one or more benefit payments that would otherwise have been suspended, the full amount of any such payments shall be deducted from subsequent retirement payments; provided, however, that in
                                      any month, the deduction shall be limited to twenty-five percent (25%) of the total benefit otherwise payable.  Such twenty-five percent (25%) limitation shall not apply to the initial Retirement Benefit payment to
                                      which such Participant or Retired Participant may be entitled.

                                  

                             

                            	

                                  	(j)	
                                    This Section does not apply to the minimum benefit to which the Participant is entitled under the Top-Heavy rules of Article XIII.

                                  

                             

                            	

                                  	(k)	
                                    If a Participant is reemployed by the Employer after Retirement Benefits have commenced, any Retirement Benefits he is receiving shall continue unchanged.

                                  

                             

                            	

                                  	(l)	
                                    Upon subsequent retirement, the Retirement Benefit payable under this Section 9.13 shall be based on Compensation and Credited Service before and after the period of his previous retirement and prior to the Plan
                                      Freeze Date, actuarially adjusted to take into account benefit payments received by the Participant under Section 9.13(k).  Notwithstanding the foregoing, upon a Participant’s subsequent retirement, that portion of his
                                      Retirement Benefit payable with respect to Credited Service before his prior retirement shall not be less than his previous Retirement Benefit modified, if applicable, to reflect any new election.

                                  

                             

                            	

                                  	(m)	
                                    Effective February 1, 2014, this Section 9.13 shall not apply to any Participant who is receiving In-Service Distributions pursuant to Section 9.14.

                                  

                             

                            For purposes of this Section 9.13, reemployment with the Employer shall not include a Retired Participant's subsequent employment by another Participating
                              Employer.

                             

                            
                              
                                	
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                                              Article IX -

                                            

                                            Payment of Benefits

                                          

                                        

                                      

                              

                            

                             

                            
                              	
                                      9.14

                                    	
                                      In-Service Distributions

                                    

                            

                             

                            	

                                  	(a)	
                                    A Participant (i) who has attained his or her Normal Retirement Age, and (ii) who has not incurred a Termination of Service, shall thereafter be eligible to receive In-Service Distributions of his or her Accrued
                                      Benefit.

                                  

                             

                            	

                                  	(b)	
                                    In-Service Distributions shall be based on a Participant’s Accrued Benefit, determined as of the Plan Freeze Date, subject to adjustment to the extent provided in Section 7.3.

                                  

                             

                            	

                                  	(c)	
                                    A Participant may elect to receive In-Service Distributions of his or her Retirement Benefit under any of the optional forms of benefit payments set forth under Section 9.7.

                                  

                             

                            	

                                  	(d)	
                                    A Participant who is receiving In-Service Distributions and who subsequently incurs a Termination of Service may thereupon be eligible for a Postponed Retirement Benefit.  If applicable, the Postponed Retirement
                                      Benefit hereunder shall be actuarially adjusted to take into account all In-Service Distributions. A Participant who receives his or her entire Retirement Benefit as an In-Service Distribution, shall not thereafter be
                                      eligible for a Postponed Retirement Benefit upon incurring a Termination of Service.

                                  

                             

                            	

                                  	(e)	
                                    A Participant who has been receiving In-Service Distributions and who continues in the employment of the Employer or an Affiliated Employer which is a Participating Employer, beyond his or her Normal Retirement
                                      Date, shall not have his or her benefit payments suspended pursuant to Section 9.13.

                                  

                             

                            	

                                  	(f)	
                                    No death benefits, under Section 7.7, shall be paid upon the death of a Participant who receives In-Service Distributions prior to his or her death.

                                  

                             

                            
                              
                                	
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                                              Article X -

                                            

                                            Withdrawal of Plan from the Trust

                                          

                                        

                                      

                              

                            

                             

                            ARTICLE X -

                            WITHDRAWAL OF PLAN FROM THE TRUST

                              

                            

                            
                              	
                                      10.1

                                    	
                                      Withdrawals‐Generally

                                    

                            

                             

                            Subject to the provisions of this Article X and the Agreement, the Employer may withdraw from the Trust by:  (a) transferring all of the Plan Interest to another funding
                              medium while retaining the Plan, or (b) transferring part of the Plan Interest to another funding medium while retaining the Plan, or (c) adopting another qualified employee pension benefit plan to succeed the Plan while
                              retaining part of the Plan Interest with the Trust, or (d) adopting another qualified employee pension benefit plan to succeed the Plan while retaining none of the Plan Interest with the Trust.

                             

                            Except as otherwise provided in the Agreement, a withdrawal shall not be deemed a termination of the Plan resulting in the vesting of benefits in any Participant under this
                              Plan.

                             

                            Notwithstanding the foregoing, the Trustees may, in their sole and absolute discretion, require the Plan to be withdrawn in accordance with the provisions of the Agreement.

                             

                            
                              	
                                      10.2

                                    	
                                      Withdrawal Procedures

                                    

                            

                             

                            A certified copy of the Employer Resolutions evidencing a withdrawal shall be delivered to the Trustees.  Such resolutions shall specify the type of withdrawal, the effective
                              date of such withdrawal, the funding medium to which the Plan Interest is to be transferred, if applicable, and in the event the Plan is withdrawn, the administrator of the successor plan.  The value of the Plan Interest shall
                              be determined as of the effective date of such withdrawal in the manner provided in the Agreement.

                             

                            
                              	
                                      10.3

                                    	
                                      Transfer of Plan Interest

                                    

                            

                             

                            Subject to receipt and approval of all required documentation, the Trustees shall, at the direction of the Employer and pursuant to the Employer Resolutions, transfer the Plan
                              Interest or part thereof to the funding medium designated in such Employer Resolutions.  Pending transfer, the Plan Interest, or part thereof, valued as of the effective date of withdrawal shall be administered and adjusted by
                              the Trustees in the manner provided in the Agreement or in Employer Resolutions approved by the Trustees.

                             

                            
                              
                                	
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                                                Article XI -

                                              

                                              Termination of Plan

                                            

                                          

                                        

                                

                              

                            

                             

                            ARTICLE XI ‐

                            TERMINATION OF PLAN

                              

                            

                            
                              	
                                      11.1

                                    	
                                      Right to Terminate Plan

                                    

                            

                             

                            While the Employer expects to continue the Plan indefinitely, the Employer reserves the right at any time to terminate the Plan, in whole or in part.

                             

                            Termination of the Plan shall not be deemed to permit any part of the Plan Interest to be used for, or diverted to, purposes other than the exclusive benefit of the
                              Participants, Retired Participants and their Beneficiaries prior to the satisfaction of all liabilities.

                             

                            
                              	
                                      11.2

                                    	
                                      Termination Procedures

                                    

                            

                             

                            The Plan may be terminated, in whole or in part, by delivering to the Trustees a certified copy of the Employer Resolutions evidencing such termination.  Such resolutions
                              shall specify the effective date of the termination or partial termination of the Plan.  The value of the Plan Interest or any part thereof affected by such termination shall be determined as of the effective date of such
                              termination in the manner provided in the Agreement.

                             

                            
                              	
                                      11.3

                                    	
                                      Distribution on Termination

                                    

                            

                             

                            The Trustees shall have no obligation to distribute any portion of the Plan Interest until it has received all documentation or approvals required under ERISA, the Plan or the
                              Agreement in a form satisfactory to the Trustees.  Pending receipt of such satisfactory documentation or approvals, the Plan Interest, valued as of the effective date of termination, shall be administered and adjusted by the
                              Trustees in the manner provided in the Agreement or Employer Resolutions approved by the Trustees.

                             

                            Upon termination or partial termination of the Plan, the benefits of all Participants, Retired Participants and Beneficiaries affected by such termination or partial
                              termination shall, to the extent funded, be nonforfeitable.  Recourse for satisfaction for any benefits provided by the Plan shall be limited to the Plan Interest.  Upon termination or partial termination of the Plan, the
                              affected Plan Interest shall be allocated by the Trustees, acting under the supervision of the Enrolled Actuary, in the order of priority and in the manner prescribed by Section 4044 of ERISA and regulations promulgated
                              thereunder and in accordance with the nondiscriminatory procedures set forth in Internal Revenue Service Revenue Ruling 80-229.  Subject to the provisions of the Agreement including but not limited to the receipt by the
                              Trustees of such rulings, determinations or other documentation required by the PBGC, the Internal Revenue Service and any other governmental agency, the Trustees shall distribute that portion of the Plan Interest attributable
                              to benefits determined hereunder in accordance with Article IX and such distribution may include the purchase of one or more immediate or deferred annuities (on an individual or group basis) payable by the Trust or otherwise
                              and may, upon the discretion of the Board, include lump sum payments; provided, however, that nothing in this Section 11.3 shall:

                             

                            	

                                  	(a)	
                                    permit the payment of any Accrued Benefit prior to the Participant's Normal Retirement Age, without the consent of the Participant to whom payment is to be made;

                                  

                             

                            
                              
                                	
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                                                  Article XI -

                                                

                                                Termination of Plan

                                              

                                            

                                          

                                  

                                

                              

                            

                             

                            	

                                  	(b)	
                                    permit the payment to a Participant who has a Spouse of any Accrued Benefit in a form other than a 50% Joint and Survivor Benefit, 75% Joint and Survivor Benefit or a 100% Joint and Survivor Benefit without the
                                      consent of the Participant and his Spouse given in accordance with Section 9.6(b);

                                  

                             

                            	

                                  	(c)	
                                    permit the payment to a Participant who has no Spouse in any form other than a Straight Life Annuity without the consent of the Participant given in accordance with Section 9.6(b);

                                  

                             

                            	

                                  	(d)	
                                    permit the elimination of any optional form of benefit or any early retirement benefit or retirement-type subsidy (within the meaning of Section 411(d)(3) of the Code).

                                  

                             

                            The terms of any annuity contract purchased and distributed by the Plan to a Participant or a Participant’s Spouse shall comply with the requirements of the Plan.

                             

                            Following the satisfaction of all liabilities of the Plan, the Trustees shall distribute any remaining portion of the Plan Interest held by the Trustees either (i) to the
                              Employer, or (ii) among Plan Participants, in a uniform and non-discriminatory manner, as determined by the Employer.  Distribution of the remaining portion of the Plan Interest hereunder, if any, shall be determined by action
                              of the Board of the Employer, prior to the termination of the Plan.

                             

                            
                              
                                	
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                                                  Article XII -

                                                

                                                Claims Procedures

                                              

                                            

                                          

                                  

                                

                              

                            

                             

                            ARTICLE XII ‐

                            CLAIMS PROCEDURES

                             

                            
                              	
                                      12.1

                                    	
                                      Definition

                                    

                            

                              

                            

                            For purposes of this Article XII, "Claimant" shall mean any Participant, Beneficiary or any other person entitled to benefits under the Plan or his duly authorized
                              representative.

                              

                            

                            
                              	
                                      12.2

                                    	
                                      Claims

                                    

                            

                             

                            A Claimant who has not received benefits under the Plan may file a written claim for a Plan benefit with the Plan Administrator on the appropriate form to be
                              supplied by the Plan Administrator.  The Plan Administrator shall, in its sole and absolute discretion, review the Claimant's application for benefits and determine the disposition of such claim.

                             

                            
                              	
                                      12.3

                                    	
                                      Disposition of Claim

                                    

                            

                             

                            The Plan Administrator shall notify the Claimant as to the disposition of the claim for benefits under the Plan within ninety (90) days after the appropriate
                              form has been filed unless special circumstances require an extension of time for processing.  If such an extension of time is required, the Plan Administrator shall furnish written notice of the extension to the Claimant
                              prior to the termination of the initial ninety (90) day period.  The extension notice shall indicate the special circumstances requiring the extension of time and the date the Plan Administrator expects to render a decision. 
                              In no event shall such extension exceed a period of one hundred eighty (180) days from the receipt of the claim.

                             

                            
                              	
                                      12.4

                                    	
                                      Denial of Claim

                                    

                            

                             

                            If a claim for benefits under the Plan is denied in whole or in part by the Plan Administrator, a written or electronic notice prepared in a manner
                              calculated to be understood by the Claimant shall be provided by the Plan Administrator to the Claimant and such notice shall include the following:

                             

                            	

                                  	(a)	
                                    a statement that the claim for the benefits under the Plan has been denied;

                                  

                             

                            	

                                  	(b)	
                                    the specific reasons for the denial of the claim for benefits, citing the specific provisions of the Plan which set forth the reason or reasons for the denial;

                                  

                             

                            	

                                  	(c)	
                                    a description of any additional material or information necessary for the Claimant to perfect the claim for benefits under the Plan and an explanation of why such material or information is necessary; and

                                  

                             

                            	

                                  	(d)	
                                    appropriate information as to the steps to be taken if the Claimant wishes to appeal such decision.

                                  

                             

                            
                              	
                                      12.5

                                    	
                                      Right to Full and Fair Review

                                    

                            

                             

                            A Claimant who is denied, in whole or in part, a claim for benefits under the Plan may file an appeal of such denial.  Such appeal must be made in writing by the Claimant or
                              his duly authorized representative and must be filed with the Employee Benefits Committee within sixty (60) days after receipt of the notification under Section 12.4.  The Claimant or his representative may review pertinent
                              documents and submit written comments, documents, records and other information relating to the Claimant’s denied claim.  Upon request, the Employee Benefits Committee will provide the Claimant, free of charge, reasonable
                              access to and copies of all documents, records and other information relevant to the claim.

                             

                            
                              
                                	
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                                                    Article XII -

                                                  

                                                  Claims Procedures

                                                

                                              

                                            

                                    

                                  

                                

                              

                            

                             

                            
                              	
                                      12.6

                                    	
                                      Time of Review

                                    

                            

                             

                            The Employee Benefits Committee shall conduct a full and fair review of the denial of claim for benefits under the Plan to a Claimant within sixty (60) days
                              after receipt of the written request for review described in Section 12.5; provided, however, that an extension, not to exceed sixty (60) days, may apply in special circumstances.  Written or electronic notice shall be
                              furnished to the Claimant prior to the commencement of the extension period.

                             

                            
                              	
                                      12.7

                                    	
                                      Final Decision

                                    

                            

                             

                            The Claimant shall be notified in writing or electronically of the final decision of such full and fair review by the Employee Benefits Committee.  Such
                              decision shall be written in a manner calculated to be understood by the Claimant, shall state the specific reasons for the decision and shall include specific references to the pertinent Plan provisions upon which the
                              decision is based.  In no event shall the decision be furnished to the Claimant later than sixty (60) days after the receipt of a request for review, unless special circumstances require an extension of time for processing, in
                              which case a decision shall be rendered within one hundred-twenty (120) days after receipt of the appeal.

                             

                            
                              	
                                      12.8

                                    	
                                      Use of Electronic Medium

                                    

                            

                             

                            A notice or election provided by an electronic system must satisfy the requirements set forth under Income Regulations Section 1.401(a)-21(a)(1)(ii)(B).

                             

                            
                              
                                	
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                                                    Article XIII-

                                                  

                                                  
                                                    Top‐Heavy
                                                      Plan Provisions

                                                  

                                                

                                              

                                            

                                    

                                  

                                

                              

                            

                             

                            ARTICLE XIII ‐

                            TOP‐HEAVY PLAN PROVISIONS

                              

                            

                            
                              	
                                      13.1

                                    	
                                      Introduction

                                    

                            

                             

                            In accordance with Section 416 of the Code, the Top‐Heavy Plan provisions as contained in this Article XIII shall become effective commencing with any Plan
                              Year in which this Plan becomes a Top‐Heavy Plan and shall supersede any other conflicting provisions of the Plan.

                             

                            
                              	
                                      13.2

                                    	
                                      Definitions

                                    

                            

                             

                            For purposes of this Article XIII, the following words and phrases shall have the meanings stated herein unless a different meaning is plainly required by
                              the context.

                             

                            	

                                  	(a)	
                                    "Determination Date" means, with respect to any Plan Year, the last day of the preceding Plan Year.  With respect to the first Plan Year, "Determination Date" means the last day of such Plan Year.

                                  

                             

                            Determination of present values and amounts.  The following subparagraphs (i) and (ii) shall apply for purposes of determining the present values of Accrued Benefits of
                              Employees as of the Determination Date.

                             

                            	

                                  	(i)	
                                    Distributions during year ending on the Determination Date.  The present values of Accrued Benefits of an Employee as of the Determination Date shall be increased by the distributions made with respect to the
                                      Employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the one (1) year period ending on the Determination Date. The preceding sentence shall also apply to
                                      distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code.  In the case of a distribution made for a reason other than
                                      severance from employment, death, or disability, this provision shall be applied by substituting "five (5) year period" for "one (1) year period."

                                  

                             

                            	

                                  	(ii)	
                                    Employees not performing services during year ending on the Determination Date.  The Accrued Benefits of any individual who has not performed services for the Employer during the one (1) year period ending on the
                                      Determination Date shall not be taken into account.

                                  

                             

                            	

                                  	(b)	
                                    "Five-Percent Owner" means, if the Employer is a corporation, any Employee who owns (or is considered as owning within the meaning of Section 318 of the Code) more than five percent (5%) of the value of the
                                      outstanding stock of, or more than five percent (5%) of the total combined voting power of all the stock of, the Employer.  If the Employer is not a corporation, a Five-Percent Owner means any Employee who owns more
                                      than five percent (5%) of the capital or profits interest in the Employer.

                                  

                             

                            
                              
                                	
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                                                      Article XIII-

                                                    

                                                    
                                                      Top‐Heavy
                                                        Plan Provisions

                                                    

                                                  

                                                

                                              

                                      

                                    

                                  

                                

                              

                            

                             

                            	

                                  	(c)	
                                    "Key Employee" means any Employee or former Employee (including any deceased Employee) who at any time during the Plan Year that includes the Determination Date was an officer of the Employer having Annual
                                      Compensation greater than one hundred thirty thousand dollars ($130,000) (as adjusted under Section 416(i)(1) of the Code, a five percent (5%) owner of the Employer, or a one percent (1%) owner of the Employer having
                                      Annual Compensation of more than one hundred fifty thousand dollars ($150,000).  For this purpose, "Annual Compensation" means compensation as defined under Section 8.1B.(e)(ii).  The determination of who is a Key
                                      Employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder.

                                  

                             

                            	

                                  	(d)	
                                    "Non-Key Employee" means an Employee or former Employee (or, where applicable, such person's Beneficiary) who is not a Key Employee.

                                  

                             

                            	

                                  	(e)	
                                    "Officer" means an Employee who is an administrative executive in the regular and continued service of his Employer; any Employee who has the title but not the authority of an officer shall not be considered an
                                      Officer for purposes of this Article XIII.  Similarly, an Employee who does not have the title of an officer but has the authority of an officer shall be considered an Officer.  For purposes of this Article XIII, the
                                      maximum number of Officers that must be taken into consideration shall be determined as follows:  (i) three (3), if the number of Employees is less than thirty (30); (ii) ten percent (10%) of the number of Employees,
                                      if the number of Employees is between thirty (30) and five hundred (500); or (iii) fifty (50), if the number of Employees is greater than five hundred (500).  In determining such limit, the term "Employer" shall be
                                      determined in accordance with Sections 414(b), (c), (m), (n) and (o) of the Code and "Employee" shall include Leased Employees and exclude employees described in Section 414(q)(5) of the Code.

                                  

                             

                            	

                                  	(f)	
                                    "One‐Percent Owner" means, if the Employer is a corporation, any Employee who owns (or is considered as owning within the meaning of Section 318 of the Code modified by Section 416(i)(1)(B)(iii) of the Code) more
                                      than one percent (1%) of the value of the outstanding stock of, or more than one percent (1%) of the total combined voting power of all the stock of, the Employer.  If the Employer is not a corporation, a One‐Percent
                                      Owner means any Employee who owns more than one percent (1%) of the capital or profits interest in the Employer.

                                  

                             

                            	

                                  	(g)	
                                    A "Permissive Aggregation Group" consists of one or more plans of the Employer that are part of a Required Aggregation Group, plus one or more plans that are not part of a Required Aggregation Group but that satisfy
                                      the requirements of Sections 401(a)(4) and 410 of the Code when considered together with the Required Aggregation Group.  If two (2) or more defined benefit plans are included in the aggregation group, the same
                                      actuarial assumptions must be used with respect to all such plans in determining the Present Value of Accrued Benefits.

                                  

                             

                            	

                                  	(h)	
                                    "Present Value of Accrued Benefits" shall be determined in accordance with the actuarial assumptions set forth in Appendix A and the assumed benefit commencement date shall be determined taking into account any
                                      nonproportional subsidy.  Solely for the purpose of determining if the Plan, or any other plan included in a Required Aggregation Group of which this Plan is a part, is a Top-Heavy Plan, the Present Value of Accrued
                                      Benefits of a Non-Key Employee shall be determined under (i) the method, if any, that uniformly applies for accrual purposes under all plans maintained by the Affiliated Employers, or (ii) if there is no single uniform
                                      method used by all plans, as if such benefit accrued not more rapidly than the slowest accrual rate permitted under the fractional rule of Section 411(b)(1)(C) of the Code.

                                  

                             

                            
                              
                                	
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                                                      Article XIII-

                                                    

                                                    
                                                      Top‐Heavy
                                                        Plan Provisions

                                                    

                                                  

                                                

                                              

                                      

                                    

                                  

                                

                              

                            

                             

                            	

                                  	(i)	
                                    A "Required Aggregation Group" consists of each plan of the Employer (whether or not terminated) in which a Key Employee participates or participated at any time during the Plan Year containing the Determination
                                      Date or any of the four (4) preceding Plan Years and each other plan of the Employer (whether or not terminated) which enables any plan in which a Key Employee participates or participated to meet the requirements of
                                      Section 401(a)(4) or 410 of the Code.  If two (2) or more defined benefit plans are included in the aggregation group, the same actuarial assumptions must be used with respect to all such plans in determining the
                                      Present Value of Accrued Benefits.

                                  

                             

                            	

                                  	(j)	
                                    A "Top-Heavy Plan" means a Plan in which, for any Plan Year:

                                  

                             

                            	

                                  	(i)	
                                    The Top-Heavy Ratio (as defined under Section 13.2(k)) for the Plan exceeds sixty percent (60%) and the Plan is not part of any Required Aggregation Group (as defined under Section 13.2(i) or Permissive Aggregation
                                      Group (as defined under Section 13.2(g)); or

                                  

                             

                            	

                                  	(ii)	
                                    The Plan is a part of a Required Aggregation Group (but is not part of a Permissive Aggregation Group) and the Top-Heavy Ratio for the group of plans exceeds sixty percent (60%); or

                                  

                             

                            	

                                  	(iii)	
                                    The Plan is a part of a Required Aggregation Group and part of a Permissive Aggregation Group and the Top-Heavy Ratio for the Permissive Aggregation Group exceeds sixty percent (60%).

                                  

                             

                            	

                                  	(k)	
                                    "Top-Heavy Ratio" means:

                                  

                             

                            	

                                  	(i)	
                                    If the Employer maintains one or more qualified defined benefit plans and the Employer has not maintained any qualified defined contribution plans which during the five (5) year period ending on the Determination
                                      Date have or have had account balances, the Top-Heavy Ratio for the Plan alone or for the Required Aggregation Group or Permissive Aggregation Group, as appropriate, is a fraction, the numerator of which is the sum of
                                      the Present Value of Accrued Benefits under the aggregated qualified defined benefit plan or plans for all Key Employees as of the Determination Date (including any part of any accrued benefit distributed in the one
                                      (1) year period ending on the Determination Date) and the denominator of which is the sum of the Present Value of Accrued Benefits under the aggregated qualified defined benefit plan or plans for all Participants as of
                                      the Determination Date (including any part of any accrued benefit distributed in the one (1) year period ending on the Determination Date), determined in accordance with Section 416 of the Code and the regulations
                                      thereunder.

                                  

                             

                            
                              
                                	
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                                                      Article XIII-

                                                    

                                                    
                                                      
                                                        Top‐Heavy
                                                          Plan Provisions

                                                      

                                                    

                                                  

                                                

                                              

                                      

                                    

                                  

                                

                              

                            

                             

                            	

                                  	(ii)	
                                    If the Employer maintains one or more qualified defined benefit plans and the Employer maintains or has maintained one or more qualified defined contribution plans which during the five (5) year period ending on the
                                      Determination Date have or have had any account balances, the Top-Heavy Ratio for any Required Aggregation Group or Permissive Aggregation Group, as appropriate, is a fraction, the numerator of which is the sum of the
                                      Present Value of Accrued Benefits under the aggregated qualified defined benefit plan or plans for all Key Employees, determined in accordance with (i) above, and the sum of the account balances under the aggregated
                                      qualified defined contribution plan or plans for all Key Employees as of the Determination Date, and the denominator of which is the sum of the Present Value of Accrued Benefits under the aggregated qualified defined
                                      benefit plan or plans for all participants, determined in accordance with (i) above, for all Participants and the sum of the account balances under the aggregated qualified defined contribution plan or plans for all
                                      Participants as of the Determination Date, all determined in accordance with Section 416 of the Code and the regulations thereunder.  The account balances under a qualified defined contribution plan in both the
                                      numerator and denominator of the Top-Heavy Ratio are adjusted for any distribution of an account balance made in the one (1) year period ending on the Determination Date.

                                  

                             

                            	

                                  	(iii)	
                                    For purposes of subsections (i) and (ii) above, the value of account balances and the Present Value of Accrued Benefits will be determined as of the most recent Valuation Date that falls within the twelve (12) month
                                      period ending on the Determination Date, except as provided in Section 416 of the Code and the regulations thereunder for the first and second Plan Years of a qualified defined benefit plan.  The account balances and
                                      Present Value of Accrued Benefits of a Participant (A) who is a Non-Key Employee but who was a Key Employee in a prior year, or (B) who has not been credited with at least an Hour of Service with any employer
                                      maintaining the Plan at any time during the one (1) year period ending on the Determination Date, will be disregarded.  The calculation of the Top-Heavy Ratio, and the extent to which distributions are taken into
                                      account will be made in accordance with Section 416 of the Code and the regulations thereunder.  When aggregating plans, the value of account balances and the Present Value of Accrued Benefits will be calculated with
                                      reference to the Determination Date that falls within the same calendar year.

                                  

                             

                            	

                                  	(l)	
                                    "Valuation Date", for the purpose of computing the Top‐Heavy Ratio as defined in Section 13.2(k), means the last date of the Plan Year.

                                  

                             

                            For purposes of Sections 13.2(g) and (i), the rules of Sections 414(b), (c), (m), (n) and (o) of the Code shall be applied in determining the meaning of the term "Employer."

                             

                            
                              	
                                      13.3

                                    	
                                      Vesting

                                    

                            

                             

                            If the Plan becomes a Top-Heavy Plan, then, notwithstanding Section 7.5, the Vested Retirement Benefit of a Participant who has at least one (1) Hour of Service with the
                              Employer after the Plan became Top-Heavy shall be not less than the vested percentage of his Accrued Benefit, determined in accordance with the following table:

                             

                            
                              
                                	
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                                                        Article XIII-

                                                      

                                                      
                                                        Top‐Heavy
                                                          Plan Provisions

                                                      

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            

                            	
                                    Years of Vested Service

                                  	
                                    Vested Percentage

                                  
	
                                    Less than 2

                                  	
                                    0%

                                  
	
                                    2 but less than 3

                                  	
                                    20%

                                  
	
                                    3 but less than 4

                                  	
                                    40%

                                  
	
                                    4 but less than 5

                                  	
                                    60%

                                  
	
                                    5 but less than 6

                                  	
                                    80%

                                  
	
                                    6 or more

                                  	
                                    100%

                                  

                             

                            For those Plan Years in which the Plan ceases to be a Top-Heavy Plan, the vesting schedule shall be determined in accordance with the provisions of Section 7.5, subject to the
                              following conditions:

                             

                            	

                                  	(a)	
                                    the vested percentage of a Participant's Accrued Benefit before the Plan ceased to be a Top-Heavy Plan shall not be reduced; and

                                  

                             

                            	

                                  	(b)	
                                    after the Plan ceases to be a Top-Heavy Plan, each Participant with at least three (3) years of Vested Service with the Employer shall have his vested percentage computed under the greater of the provisions of this
                                      Section 13.3 or the provisions of Section 7.5.

                                  

                             

                            
                              	
                                      13.4

                                    	
                                      Minimum Benefit

                                    

                            

                             

                            If the Plan becomes a Top‐Heavy Plan, then, notwithstanding Sections 1.1 and 7.2, each Non‐Key Employee Participant shall be entitled to a minimum benefit,
                              expressed in the form of a Straight Life Annuity commencing at his Normal Retirement Date, equal to the lesser of (a) two percent (2%) of such Participant's average Section 415 Compensation (as defined under Section
                              8.1A.(a)(xii) or Section 8.1B.(e)(ii) of the Plan and modified by Section 401(a)(17) of the Code) during the five (5) consecutive Plan Years in which he received the highest such Section 415 Compensation, multiplied by (b)
                              that portion of his Vested Service that is completed during Plan Years in which the Plan is a Top-Heavy Plan, or twenty percent (20%).  For purposes of (a) above, Plan Years beginning after the close of the last Plan Year in
                              which the Plan is a Top-Heavy Plan shall be excluded.  This Plan will provide the minimum benefit under this Section 13.4 when a Non-Key Employee participates in more than one (1) defined benefit plan.  This Plan will provide
                              the minimum benefit under this Section 13.4 when a Non-Key Employee participates in the Plan and any defined contribution plan.

                             

                            If a Non-Key Employee becomes entitled to a minimum benefit under the provisions of this Section 13.4, such benefit shall be payable in accordance with the provisions of
                              Section 9.2 or Section 9.8.

                             

                            A Non‐Key Employee may not fail to accrue a minimum benefit merely because such Employee was not employed on a specified date; neither may such Employee be
                              excluded from participation (or a failure to accrue a benefit) because (i) his Compensation is less than a stated amount, nor because (ii) he fails to make mandatory Employee contributions, if any.

                             

                            For purposes of satisfying the minimum benefit requirements of Section 416(c)(1) of the Code and the Plan, in determining years of service with the Employer,
                              any service with the Employer shall be disregarded to the extent that such service occurs during a Plan Year when the Plan benefits (within the meaning of Section 410(b) of the Code) no Key Employee or former Key Employee.

                             

                            
                              
                                	
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                                                      Article XIV-

                                                    

                                                    Miscellaneous

                                                  

                                                

                                              

                                      

                                    

                                  

                                

                              

                            

                             

                            ARTICLE XIV‐

                            MISCELLANEOUS

                              

                            

                            
                              	
                                      14.1

                                    	
                                      Amendments

                                    

                            

                             

                            	

                                  	(a)	
                                    Subject to the approval of the Trustees, the Employer shall have the right to amend, in whole or in part, any or all provisions of the Plan; provided, however, that no such amendment (i) shall authorize or permit
                                      any part of the Trust Fund to be used for, or diverted to, any purpose other than the exclusive benefit of Participants, Retired Participants, or their Beneficiaries, and (ii) shall cause or permit any portion of the
                                      Trust Fund to revert to or become the property of the Employer except to the extent provided in Sections 4.4 and 11.3.

                                  

                             

                            Notwithstanding the preceding paragraph, in order to facilitate the adoption of future required Plan changes under the Code, pursuant to the procedures set
                              forth in Section 15 of Revenue Procedure 2015-36, the Employer shall provide Pentegra Services, Inc. (“PSI”), the volume submitter plan practitioner, with the authority to amend the Plan on behalf of the Employer, solely for
                              the purpose of compliance with changes in the Code, Treasury Regulations, revenue rulings, and other statements published by the IRS, including model, sample or other required good faith amendments and corrections of prior
                              approved plans.  PSI shall notify the Employer of any amendment it makes to the Plan pursuant to the authority hereunder or the discontinuance or abandonment of the Plan. For purposes of reliance on the advisory letter issued
                              by the Internal Revenue Service (“Service”) on behalf of the Volume Submitter Defined Benefit Plan, PSI shall no longer have the authority to amend the Plan on behalf of the Employer as of the date of adoption of an Employer
                              amendment to the Plan to incorporate a type of plan not allowable in the Volume Submitter program, or as of the date the Service notifies PSI that the Plan is being treated as an individually designed plan.

                             

                            	

                                  	(b)	
                                    If any amendment changes the vesting schedule, in the case of any Employee who is a Participant as of the later of the date such amendment is adopted or the effective date of the amendment, the nonforfeitable
                                      percentage (determined as of such date) of such Participant’s Accrued Benefit shall not be less than the percentage computed under the Plan without regard to such amendment.  Any Participant with three (3) or more
                                      years of Vested Service may, by filing a written request with the Employer, elect to have his vested percentage computed under the vesting schedule in effect prior to the amendment.

                                  

                             

                            The period during which the Participant may elect to have his vested percentage computed under the prior vesting schedule shall commence with the date the amendment is adopted
                              and shall end on the latest of:

                             

                            	

                                  	(i)	
                                    sixty (60) days after the amendment is adopted;

                                  

                             

                            	

                                  	(ii)	
                                    sixty (60) days after the amendment becomes effective; or

                                  

                             

                            	

                                  	(iii)	
                                    sixty (60) days after the Participant is issued written notice of the amendment from the Employer.

                                  

                             

                            
                              
                                	
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                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            With respect to benefits accrued as of the later the adoption date or the effective date of the amendment, the vested percentage of each Participant shall be the greater of
                              the vested percentage under the vesting schedule as in effect prior to the adoption date or the effective date of the amendment or the new vesting schedule.

                             

                            No amendment to the Plan (including a change in the actuarial basis for determining optional or early retirement benefits) shall be effective to the extent that it has the
                              effect of decreasing a Participant's Accrued Benefit.  For purposes of this paragraph, an amendment that has the effect of (A) eliminating or reducing an Early Retirement Benefit or a retirement-type subsidy, or (B)
                              eliminating an optional form of benefit, with respect to benefits attributable to service before the amendment, shall be treated as reducing Accrued Benefits.  In the case of a retirement-type subsidy, the preceding sentence
                              shall apply only with respect to a Participant who satisfies (either before or after the amendment) the preamendment conditions for the subsidy.  Notwithstanding the preceding sentences, a Participant's Accrued Benefit, Early
                              Retirement Benefit, retirement-type subsidy, or optional form of benefit may be reduced to the extent permitted under Code Section 412(d)(2) (for Plan Years beginning after December 31, 2007), or to the extent permitted under
                              Income Tax Regulations Sections 1.411(d)-3 and 1.411(d)-4.

                             

                            
                              	
                                      14.2

                                    	
                                      Nonalienation of Benefits

                                    

                            

                             

                            	

                                  	(a)	
                                    Except, effective August 5, 1997, to the extent of any offset of a Participant’s benefits as a result of any judgment, order, decree or settlement agreement provided in Section 401(a)(13)(C) of the Code, benefits
                                      payable under the Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution, or levy of any kind, either voluntary or
                                      involuntary and any attempt to so anticipate, alienate, sell, transfer, assign, pledge, encumber, charge, garnish, execute, levy or otherwise affect any right to benefits payable hereunder, shall be void. 
                                      Notwithstanding the foregoing, the Plan shall permit the payment of benefits in accordance with a qualified domestic relations order as defined under Section 414(p) of the Code.

                                  

                             

                            	

                                  	(b)	
                                    For purposes of Section 14.2(a):

                                  

                             

                            	

                                  	(i)	
                                    a "domestic relations order" means a judgment, decree or order (including the approval of a property settlement) that is made pursuant to a state domestic relations or community property law and relates to the
                                      provision of child support, alimony payments, or marital property rights to a spouse, former spouse, child, or other dependent of a Participant.

                                  

                             

                            	

                                  	(ii)	
                                    a "qualified domestic relations order" means a domestic relations order that (A) clearly specifies (I) the name and last known mailing address of the Participant and of each person's given rights under such domestic
                                      relations order, (II) the amount or percentages of the Participant's benefits under the Plan to be paid to each person covered by such domestic relations order, or manner in which such amount or percentage is to be
                                      determined, (III) the number of payments or the period to which such domestic relations order applies, and (IV) the name of the Plan; and (B) does not require the payment of a benefit in a form or amount that is (1)
                                      not otherwise provided for under the Plan, or (2) inconsistent with a previous qualified domestic relations order.

                                  

                             

                            
                              
                                	
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                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            
                              	
                                      14.3

                                    	
                                      No Guarantee of Employment

                                    

                            

                             

                            Nothing contained in the Plan shall be construed as a contract or a right of employment between the Employer and any Employee.

                             

                            
                              	
                                      14.4

                                    	
                                      Preservation of Benefits

                                    

                            

                             

                            	

                                  	(a)	
                                    In no event shall an Employee who was a Participant under the Prior Plan receive a Retirement Benefit under this Plan which is less than the Retirement Benefit that would have been payable assuming (i) the Prior
                                      Plan provisions immediately preceding the Restatement Date had remained in effect until the Participant's Termination of Service, and (ii) the Participant terminated service on the day immediately preceding the
                                      Restatement Date.

                                  

                             

                            	

                                  	(b)	
                                    No amendment to the Plan (including a change in the actuarial basis for determining optional or early retirement benefits) shall be effective to the extent that it has the effect of decreasing a Participant’s
                                      Accrued Benefit.  For purposes of this Section 14.4(b), a Plan amendment that has the effect of (i) eliminating or reducing an early retirement benefit or a retirement-type subsidy, or (ii) eliminating an optional form
                                      of benefit, with respect to benefits attributable to service before the amendment shall be treated as reducing Accrued Benefits.

                                  

                             

                            For purposes of this Section 14.4(b), a Plan amendment that raises the Normal Retirement Age under the Plan to comply with Section 1.401(a)-1(b)(2) of the
                              Income Tax Regulations will not be treated as an amendment that decreases a Participant’s Accrued Benefit merely because the amendment eliminates a right the Participant may have had to receive a distribution prior to
                              severance from employment on attainment of the Normal Retirement Age under the terms of the Prior Plan.  The preceding sentence applies only in the case of a Plan amendment that is adopted after May 22, 2007 and on or before
                              the last day of the applicable remedial amendment period under Section 1.401(b)-1 with respect to the requirements of Sections 1.401(a)-1(b)(2) and (3).  A Participant who became or would have become eligible for payment of
                              benefits at the Normal Retirement Age under the terms of the Prior Plan, and who has severed employment with the Employer maintaining the Plan, continues to be eligible for payment at the same age and in at least the same
                              amount as under the terms of the Prior Plan with respect to benefits accrued prior to the applicable amendment date.

                             

                            In no event shall a Merged Plan Participant receive a Retirement Benefit under this Plan which is less than the Retirement Benefit that would have been
                              payable assuming (I) the Merged Plan provisions immediately preceding to June 26, 1996 had remained in effect until the Merged Plan Participant’s Termination of Service and (II) the Merged Plan Participant terminated service
                              on June 26, 1996.

                             

                            In no event shall a Financial Federal Plan Participant receive a Retirement Benefit under this Plan which is less than the Retirement Benefit that would have
                              been payable assuming (1) the Financial Federal Plan provisions immediately preceding February 8, 1999 had remained in effect until the Financial Federal Plan Participant’s Termination of Service and (2) the Financial Federal
                              Plan Participant terminated service on February 7, 1999.

                             

                            
                              
                                	
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                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            
                              	
                                      14.5

                                    	
                                      Right to Trust Assets

                                    

                            

                             

                            Except as provided under the Plan, no Participant, Retired Participant, Employer, Employee or Beneficiary shall have any right to or interest in, any assets
                              of the Trust Fund.  Unless otherwise provided under Title IV of ERISA, all payments of benefits provided under this Plan shall be made solely from the Plan Interest.

                             

                            
                              	
                                      14.6

                                    	
                                      Successor Employer

                                    

                            

                             

                            In the event of the dissolution, merger, consolidation or reorganization of the Employer, the successor organization may, upon satisfying the provisions of
                              the Agreement and the Plan, adopt and continue this Plan.  Upon adoption, the successor organization shall be deemed the Employer with all its powers, duties and responsibilities and shall assume all Plan liabilities.

                             

                            
                              	
                                      14.7

                                    	
                                      Documentary Evidence

                                    

                            

                             

                            No Retirement Benefit payments shall be made under the Plan prior to the completion and submission of documentary evidence satisfactory to the Employee
                              Benefits Committee as determined pursuant to Section 3.6.

                             

                            If any fact relating to a Participant, Retired Participant or Beneficiary has been misstated, the correct fact may be used to determine the benefit payments.  If overpayments
                              or underpayments have been made as a result of such incorrect information, the amount of any future payments may be appropriately adjusted.

                             

                            
                              	
                                      14.8

                                    	
                                      Forfeitures

                                    

                            

                             

                            Forfeitures resulting from a Participant's Termination of Service with the Employer prior to his entitlement to any benefits under the Plan shall be used to
                              reduce the Employer's future contributions to the Plan.

                             

                            
                              	
                                      14.9

                                    	
                                      Missing Payee

                                    

                            

                             

                            Notwithstanding any other provision in the Plan or Agreement to the contrary, if the Trustees are unable to make payment to any Employee, Participant,
                              Retired Participant, Beneficiary or other person to whom a payment is due ("Payee") under the Plan because the identity or whereabouts of such Payee cannot be ascertained after reasonable efforts have been made to identify or
                              locate such person (including mailing a certified notice of the payment due to the last known address of such Payee as shown on the records of the Employer), such payment and all subsequent payments otherwise due to such Payee
                              shall be forfeited twenty-four (24) months after the date such payment first became due.  However, such payment and any subsequent payments shall be reinstated retroactively, without interest, no later than sixty (60) days
                              after the date on which the Payee is identified and located.  Notwithstanding the foregoing, as of the termination date of the Plan, the Plan Administrator shall (i) transfer benefits of missing Participants to the Pension
                              Benefit Guaranty Corporation, or (ii) purchase an irrevocable commitment in the amount necessary to provide the benefits of any missing Participants from an insurer, to the extent provided for under Code Section 401(a)(34) and
                              Section 4050 of the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder.

                             

                            
                              
                                	
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                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            
                              	
                                      14.10

                                    	
                                      Plan Merger, Consolidation, or Transfer

                                    

                            

                             

                            This Plan shall not be merged or consolidated with, nor shall any assets or liabilities held in the Trust Fund be transferred to, any other plan unless the Accrued Benefits
                              payable to each Participant, Retired Participant or Beneficiary, if the surviving plan were terminated immediately after such action, would be equal to or greater than the Accrued Benefits which such Participant, Retired
                              Participant or Beneficiary would have been entitled to receive if this Plan had been terminated immediately prior to such merger, consolidation or transfer.

                             

                            
                              	
                                      14.11

                                    	
                                      Retention of Vested Rights under the Prior Plan

                                    

                            

                             

                            If a Participant had a nonforfeitable right to a Vested Retirement Benefit under the Prior Plan at a date earlier than that permitted under Section 7.5, he shall have a
                              nonforfeitable right to a Vested Retirement Benefit under this Plan at such earlier date.

                             

                            
                              	
                                      14.12

                                    	
                                      Affiliated Employers

                                    

                            

                             

                            Benefits provided under the Plan shall be reduced by the value of any accrued benefits provided under the plan(s) of any other Affiliated Employer(s) at the
                              time the employee was hired by the Employer; provided, however, that the combined benefits under the Plan and the plan(s) of the Affiliated Employer(s) shall not be less than a benefit equal to the sum of (i) the accrued
                              benefits under the plan(s) of the Affiliated Employers and (ii) the benefit payable under the Plan taking into account only that service rendered on behalf of the Employer.

                             

                            
                              	
                                      14.13

                                    	
                                      Benefits under an Insurance Contract

                                    

                            

                             

                            If any Plan benefits are payable to or on behalf of any Participants, Retired Participants or Beneficiaries covered in whole or in part by an insurance
                              contract, benefits under such contract shall be subject to the following provisions:

                             

                            	

                                  	(a)	
                                    Any lump sum distribution attributable to Participant contributions, if any, shall be limited to any amounts contributed by the Participant to the insurance company together with such interest thereon determined in
                                      accordance with the provisions of such contract.

                                  

                             

                            	

                                  	(b)	
                                    In the event a contract has been terminated, benefit payments which commenced prior to the date the Employer terminated such contract shall continue to be paid in accordance with the provisions of the contract at
                                      the time of its termination.

                                  

                             

                            	

                                  	(c)	
                                    Where a portion of the total benefit is provided pursuant to such contract, the portion payable under the Plan shall be such that the combined value of benefit payments under the Plan and the contract shall be equal
                                      to that which would have been payable had the benefits been payable solely under the Plan.

                                  

                             

                            	

                                  	(d)	
                                    Any dividends or other distributions based upon actuarial experience forwarded to the Trustees under such contract shall be treated as investment income.

                                  

                             

                            	

                                  	(e)	
                                    In the event the Plan is terminated pursuant to Article XI, any reserves held or benefits payable under such contract at the time of the Plan termination shall be taken into account in determining the order of
                                      priority and manner of allocation prescribed by Section 4044 of ERISA.

                                  

                             

                            
                              
                                	
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                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            	

                                  	(f)	
                                    Any life insurance contract purchased for a Participant must be incidental to the primary purpose of providing retirement benefits under Treasury Regulations Section 1.401-1(b)(1) (i) and (ii).

                                  

                             

                            
                              	
                                      14.14

                                    	
                                      Adoption of Plan by Affiliated Employer

                                    

                            

                             

                            An Affiliated Employer of the Sponsoring Employer may adopt the Plan and Agreement upon satisfying the requirements set forth in the Agreement.  Upon such
                              adoption, such Affiliated Employer shall become a Participating Affiliate in the Plan, which Plan shall be deemed a "single plan" within the meaning of Income Tax Regulations Section 1.414(l)-1(b)(1).

                             

                            For purposes of Article III, Employer shall mean only the Sponsoring Employer and each Participating Affiliate shall be deemed to accept and designate the
                              Named Fiduciaries, Employee Benefits Committee and its members, Investment Fiduciaries, Plan Admin-istrator, and Trustee Administrator.

                             

                            The Sponsoring Employer shall solely exercise for and on behalf of such Participating Affiliate the powers reserved to the Employer under Articles III, X, XI
                              and XII as well as those reserved under Section 14.1.  However, such Participating Affiliate may at any time terminate its future participation in the Plan and in the Plan Interest thereof for the purposes and in the manner
                              set forth in the Agreement.

                             

                            
                              	
                                      14.15

                                    	
                                      Omissions or Incorrect Inclusions

                                    

                            

                             

                            In the event an eligible employee is inadvertently omitted from the Plan or an ineligible employee is incorrectly included in the Plan, correction by the Employer for this
                              failure must be done in accordance with the requirements of the Employee Plans Compliance Resolution System (“EPCRS”) program for which the Employer is eligible.

                             

                            
                              	
                                      14.16

                                    	
                                      Gender and Number

                                    

                            

                             

                            Words used in the masculine shall be read and construed in the feminine where applicable.  Wherever required, the singular of any word used in this Plan
                              shall include the plural and the plural may be read in the singular.  Any reference to a section number shall refer to a section of this Plan, unless otherwise indicated.

                             

                            
                              	
                                      14.17

                                    	
                                      Headings

                                    

                            

                             

                            The headings of articles and sections are included solely for convenience of reference, and if there be any conflict between such headings and the text of the Plan, the text
                              shall control.

                             

                            
                              	
                                      14.18

                                    	
                                      Governing Law

                                    

                            

                             

                            The Plan shall be governed by and construed and enforced in accordance with the laws of the State of New York, without regard to the choice of law or conflict of law rules
                              recognized by such state, except to the extent that such laws are preempted by the Federal laws of the United States of America.

                             

                            
                              
                                	
                                        117

                                      	
                                        108

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          	
                                                  
                                                    
                                                      
                                                        Article XIV-

                                                      

                                                      Miscellaneous

                                                    

                                                  

                                                

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            
                              
                                	
                                        14.19

                                      	
                                        HEART Act

                                      

                              

                               

                              Effective January 1, 2007, the Beneficiary of a Participant on a leave of absence to perform military service with reemployment rights described in Code Section 414(u) where
                                the Participant cannot return to employment on account of his or her death, shall be entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) that would be
                                provided under the Plan had the Participant died as an active Employee, in accordance with Code Section 401(a)(37).

                               

                            

                            
                              	
                                      14.20

                                    	
                                      USERRA

                                    

                            

                             

                            Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in
                              accordance with Code Section 414(u).

                             

                            
                              
                                	
                                        117

                                      	
                                        109

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                               

                              

                            

                            APPENDIX A

                             

                            As referred to in the Plan, the term Actuarial Equivalent shall be based on the following terms, conditions and factors as set forth below (where applicable):

                             

                            	A.	
                                    The following tables of Early Retirement, Vested Retirement and Postponed Retirement adjustment factors are based upon the Combined Annuity Mortality Table (Modified and Makehamized) rated back 3 years with interest
                                      at the rate of 3% per annum, compounded annually:

                                  

                              

                            

                            
                              	 	
                                      1.

                                    	
                                      Early Retirement and Vested Retirement Factors (Article VII)

                                    

                            

                             

                            	
                                    Number of Years

                                    Payments Commence

                                    Prior to Normal

                                    Retirement Date

                                  	 	
                                     

                                     

                                     

                                    Factor

                                  	 	
                                    Number of Years

                                    Payments Commence Prior to

                                     Normal

                                    Retirement Date

                                  	 	
                                     

                                     

                                     

                                    Factor

                                  
	
                                    0

                                  	 	
                                    1.0000

                                  	 	
                                    10

                                  	 	
                                    .4829

                                  
	
                                    1

                                  	 	
                                    .9205

                                  	 	
                                    11

                                  	 	
                                    .4535

                                  
	
                                    2

                                  	 	
                                    .8496

                                  	 	
                                    12

                                  	 	
                                    .4264

                                  
	
                                    3

                                  	 	
                                    .7860

                                  	 	
                                    13

                                  	 	
                                    .4016

                                  
	
                                    4

                                  	 	
                                    .7289

                                  	 	
                                    14

                                  	 	
                                    .3786

                                  
	
                                    5

                                  	 	
                                    .6774

                                  	 	
                                    15

                                  	 	
                                    .3574

                                  
	
                                    6

                                  	 	
                                    .6308

                                  	 	
                                    16

                                  	 	
                                    .3378

                                  
	
                                    7

                                  	 	
                                    .5885

                                  	 	
                                    17

                                  	 	
                                    .3195

                                  
	
                                    8

                                  	 	
                                    .5500

                                  	 	
                                    18

                                  	 	
                                    .3026

                                  
	
                                    9

                                  	 	
                                    .5149

                                  	 	
                                    19

                                  	 	
                                    .2868

                                  
	 	 	 	 	
                                    20

                                  	 	
                                    .2721

                                  

                            

                            

                            
                              
                                	
                                        117

                                      	
                                        110

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            

                            	

                                  	2.	
                                    Postponed Retirement Factors (Article VII)

                                  

                             

                            	
                                    Number of Years

                                    Payments Commence

                                    After Normal

                                    Retirement Date

                                  	 	
                                    Factor

                                  	 	
                                    Number of Years

                                    Payments Commence

                                    After Normal

                                    Retirement Date

                                  	 	
                                    Factor

                                  
	
                                    0

                                  	 	
                                    1.0000

                                  	 	
                                    10

                                  	 	
                                    2.77043

                                  
	
                                    1

                                  	 	
                                    1.08926

                                  	 	
                                    11

                                  	 	
                                    3.14706

                                  
	
                                    2

                                  	 	
                                    1.19004

                                  	 	
                                    12

                                  	 	
                                    3.59705

                                  
	
                                    3

                                  	 	
                                    1.30431

                                  	 	
                                    13

                                  	 	
                                    4.13894

                                  
	
                                    4

                                  	 	
                                    1.43445

                                  	 	
                                    14

                                  	 	
                                    4.79705

                                  
	
                                    5

                                  	 	
                                    1.58339

                                  	 	
                                    15

                                  	 	
                                    5.60357

                                  
	
                                    6

                                  	 	
                                    1.75470

                                  	 	
                                    16

                                  	 	
                                    6.60164

                                  
	
                                    7

                                  	 	
                                    1.95281

                                  	 	
                                    17

                                  	 	
                                    7.84971

                                  
	
                                    8

                                  	 	
                                    2.18323

                                  	 	
                                    18

                                  	 	
                                    9.42807

                                  
	
                                    9

                                  	 	
                                    2.45286

                                  	 	
                                    19

                                  	 	
                                    11.44848

                                  
	 	 	 	 	
                                    20

                                  	 	
                                    14.06880

                                  

                            

                            

                            
                              
                                	
                                        117

                                      	
                                        111

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            

                            
                              	
                                      B.

                                    	
                                      Benefit Payment Factors (Article IX)

                                    

                            

                             

                            	

                                  	l.	
                                    Joint and Survivor Payment Form

                                  

                             

                            	
                                    Age

                                  	
                                    100%

                                    Survivorship

                                  	
                                    75%

                                    Survivorship

                                  	
                                    66-2/3%

                                    Survivorship

                                  	
                                    50%

                                    Survivorship

                                  	
                                    33-l/3%

                                    Survivorship

                                  
	
                                    50

                                  	
                                    90.0%

                                  	
                                    92.3%

                                  	
                                    93.1%

                                  	
                                    94.7%

                                  	
                                    96.4%

                                  
	
                                    51

                                  	
                                    89.4

                                  	
                                    91.8

                                  	
                                    92.7

                                  	
                                    94.4

                                  	
                                    96.2

                                  
	
                                    52

                                  	
                                    88.8

                                  	
                                    91.4

                                  	
                                    92.2

                                  	
                                    94.1

                                  	
                                    96.0

                                  
	
                                    53

                                  	
                                    88.2

                                  	
                                    90.9

                                  	
                                    91.8

                                  	
                                    93.7

                                  	
                                    95.7

                                  
	
                                    54

                                  	
                                    87.6

                                  	
                                    90.4

                                  	
                                    91.4

                                  	
                                    93.4

                                  	
                                    95.5

                                  
	
                                    55

                                  	
                                    87.0

                                  	
                                    89.9

                                  	
                                    90.9

                                  	
                                    93.0

                                  	
                                    95.3

                                  
	
                                    56

                                  	
                                    86.4

                                  	
                                    89.4

                                  	
                                    90.5

                                  	
                                    92.7

                                  	
                                    95.0

                                  
	
                                    57

                                  	
                                    85.8

                                  	
                                    89.0

                                  	
                                    90.1

                                  	
                                    92.4

                                  	
                                    94.8

                                  
	
                                    58

                                  	
                                    85.2

                                  	
                                    88.5

                                  	
                                    89.6

                                  	
                                    92.0

                                  	
                                    94.5

                                  
	
                                    59

                                  	
                                    84.6

                                  	
                                    88.0

                                  	
                                    89.2

                                  	
                                    91.7

                                  	
                                    94.3

                                  
	
                                    60

                                  	
                                    84.0

                                  	
                                    87.5

                                  	
                                    88.7

                                  	
                                    91.3

                                  	
                                    94.0

                                  
	
                                    61

                                  	
                                    83.2

                                  	
                                    86.8

                                  	
                                    88.1

                                  	
                                    90.8

                                  	
                                    93.7

                                  
	
                                    62

                                  	
                                    82.4

                                  	
                                    86.2

                                  	
                                    87.5

                                  	
                                    90.4

                                  	
                                    93.4

                                  
	
                                    63

                                  	
                                    81.6

                                  	
                                    85.5

                                  	
                                    86.9

                                  	
                                    89.9

                                  	
                                    93.0

                                  
	
                                    64

                                  	
                                    80.8

                                  	
                                    84.9

                                  	
                                    86.3

                                  	
                                    89.4

                                  	
                                    92.7

                                  
	
                                    65

                                  	
                                    80.0

                                  	
                                    84.2

                                  	
                                    85.7

                                  	
                                    88.9

                                  	
                                    92.3

                                  
	
                                    66

                                  	
                                    79.3

                                  	
                                    83.6

                                  	
                                    85.2

                                  	
                                    88.5

                                  	
                                    92.0

                                  
	
                                    67

                                  	
                                    78.6

                                  	
                                    83.0

                                  	
                                    84.6

                                  	
                                    88.0

                                  	
                                    91.7

                                  
	
                                    68

                                  	
                                    77.9

                                  	
                                    82.5

                                  	
                                    84.1

                                  	
                                    87.6

                                  	
                                    91.4

                                  
	
                                    69

                                  	
                                    77.2

                                  	
                                    81.9

                                  	
                                    83.5

                                  	
                                    87.1

                                  	
                                    91.0

                                  
	
                                    70

                                  	
                                    76.5

                                  	
                                    81.3

                                  	
                                    83.0

                                  	
                                    86.7

                                  	
                                    90.7

                                  
	
                                    71

                                  	
                                    75.9

                                  	
                                    80.8

                                  	
                                    82.5

                                  	
                                    86.3

                                  	
                                    90.4

                                  
	
                                    72

                                  	
                                    75.3

                                  	
                                    80.3

                                  	
                                    82.1

                                  	
                                    85.9

                                  	
                                    90.1

                                  
	
                                    73

                                  	
                                    74.7

                                  	
                                    79.7

                                  	
                                    81.6

                                  	
                                    85.5

                                  	
                                    89.9

                                  
	
                                    74

                                  	
                                    74.1

                                  	
                                    79.2

                                  	
                                    81.1

                                  	
                                    85.1

                                  	
                                    89.6

                                  
	
                                    75

                                  	
                                    73.5

                                  	
                                    78.7

                                  	
                                    80.6

                                  	
                                    84.7

                                  	
                                    89.3

                                  

                             

                            

                            The above Survivorship factors assume the Participant and Beneficiary are the same age.  When the ages differ:

                             

                            Add Factor B for each year the Beneficiary is older than the Participant,

                             

                            Subtract Factor B for each year the Beneficiary is younger than the Participant.

                             

                            	
                                    Factor B for all members:

                                  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    for first 10 years

                                  	 	 	
                                    .7

                                  	
                                    %

                                  	 	 	
                                    .6

                                  	
                                    %

                                  	 	 	
                                    .5

                                  	
                                    %

                                  	 	 	
                                    .4

                                  	
                                    %

                                  	 	 	
                                    .3

                                  	
                                    %

                                  
	
                                    for next 10 years

                                  	 	 	
                                    .5

                                  	 	 	 	
                                    .4

                                  	 	 	 	
                                    .4

                                  	 	 	 	
                                    .3

                                  	 	 	 	
                                    .3

                                  	 
	
                                    for over 20 years

                                  	 	 	
                                    .3

                                  	 	 	 	
                                    .3

                                  	 	 	 	
                                    .2

                                  	 	 	 	
                                    .2

                                  	 	 	 	
                                    .2

                                  	 
	
                                    Maximum allowable option factor

                                  	 	 	
                                    99.0

                                  	
                                    %

                                  	 	 	
                                    99.0

                                  	
                                    %

                                  	 	 	
                                    99.0

                                  	
                                    %

                                  	 	 	
                                    99.0

                                  	
                                    %

                                  	 	 	
                                    99.0

                                  	
                                    %

                                  

                             

                            

                            
                              
                                	
                                        117

                                      	
                                        112

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                            

                            

                            	

                                  	2.	
                                    Period Certain and Life Benefit Payment Form

                                  

                             

                            	
                                    Age

                                  	
                                    5 Year

                                    Certain and Life

                                  	
                                     10 Year

                                    Certain and Life

                                  	
                                    15 Year

                                    Certain and Life

                                  
	
                                    40

                                  	
                                    99.9%

                                  	
                                    99.5%

                                  	
                                    98.9%

                                  
	
                                    41

                                  	
                                    99.9

                                  	
                                    99.4

                                  	
                                    98.8

                                  
	
                                    42

                                  	
                                    99.9

                                  	
                                    99.4

                                  	
                                    98.7

                                  
	
                                    43

                                  	
                                    99.8

                                  	
                                    99.3

                                  	
                                    98.5

                                  
	
                                    44

                                  	
                                    99.8

                                  	
                                    99.3

                                  	
                                    98.4

                                  
	
                                    45

                                  	
                                    99.8

                                  	
                                    99.2

                                  	
                                    98.3

                                  
	
                                    46

                                  	
                                    99.8

                                  	
                                    99.1

                                  	
                                    98.1

                                  
	
                                    47

                                  	
                                    99.7

                                  	
                                    98.9

                                  	
                                    97.8

                                  
	
                                    48

                                  	
                                    99.7

                                  	
                                    98.8

                                  	
                                    97.6

                                  
	
                                    49

                                  	
                                    99.6

                                  	
                                    98.6

                                  	
                                    97.3

                                  
	
                                    50

                                  	
                                    99.6

                                  	
                                    98.4

                                  	
                                    97.1

                                  
	
                                    51

                                  	
                                    99.6

                                  	
                                    98.3

                                  	
                                    96.6

                                  
	
                                    52

                                  	
                                    99.6

                                  	
                                    98.2

                                  	
                                    96.2

                                  
	
                                    53

                                  	
                                    99.5

                                  	
                                    98.1

                                  	
                                    95.8

                                  
	
                                    54

                                  	
                                    99.5

                                  	
                                    98.0

                                  	
                                    95.4

                                  
	
                                    55

                                  	
                                    99.4

                                  	
                                    97.9

                                  	
                                    95.0

                                  
	
                                    56

                                  	
                                    99.3

                                  	
                                    97.5

                                  	
                                    94.2

                                  
	
                                    57

                                  	
                                    99.2

                                  	
                                    97.1

                                  	
                                    93.4

                                  
	
                                    58

                                  	
                                    99.1

                                  	
                                    96.7

                                  	
                                    92.6

                                  
	
                                    59

                                  	
                                    98.9

                                  	
                                    96.3

                                  	
                                    91.8

                                  
	
                                    60

                                  	
                                    98.8

                                  	
                                    95.9

                                  	
                                    91.0

                                  
	
                                    61

                                  	
                                    98.6

                                  	
                                    95.2

                                  	
                                    90.0

                                  
	
                                    62

                                  	
                                    98.4

                                  	
                                    94.5

                                  	
                                    89.0

                                  
	
                                    63

                                  	
                                    98.2

                                  	
                                    93.8

                                  	
                                    88.0

                                  
	
                                    64

                                  	
                                    98.0

                                  	
                                    93.1

                                  	
                                    87.0

                                  
	
                                    65

                                  	
                                    97.8

                                  	
                                    92.4

                                  	
                                    86.0

                                  
	
                                    66

                                  	
                                    97.4

                                  	
                                    91.4

                                  	
                                    84.4

                                  
	
                                    67

                                  	
                                    97.1

                                  	
                                    90.4

                                  	
                                    82.8

                                  
	
                                    68

                                  	
                                    96.7

                                  	
                                    89.4

                                  	
                                    81.2

                                  
	
                                    69

                                  	
                                    96.4

                                  	
                                    88.4

                                  	
                                    79.6

                                  
	
                                    70

                                  	
                                    96.0

                                  	
                                    87.4

                                  	
                                    78.0

                                  
	
                                    71

                                  	
                                    95.4

                                  	
                                    85.8

                                  	
                                    76.0

                                  
	
                                    72

                                  	
                                    94.8

                                  	
                                    84.2

                                  	
                                    74.0

                                  
	
                                    73

                                  	
                                    94.2

                                  	
                                    82.6

                                  	
                                    72.0

                                  
	
                                    74

                                  	
                                    93.6

                                  	
                                    81.0

                                  	
                                    70.0

                                  
	
                                    75

                                  	
                                    93.0

                                  	
                                    79.4

                                  	
                                    68.0

                                  

                             

                            

                            
                              
                                	
                                        117

                                      	
                                        113

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                             

                            
                              	C.	
                                      Adjustments when Standard Benefits are Payable other than on a Straight Life Basis (Article IX)

                                    

                               

                              The Benefit Payment Form shall first be converted to a Straight Life Annuity then the above factors shall be applied.

                               

                              	D.	
                                      Top-Heavy Plans (Article XIII)

                                    

                               

                              In order to determine if the Plan is a Top-Heavy Plan, the Present Value of Accrued Benefits shall be determined based upon (1) the 1983 Group Annuity
                                Mortality Table (separate for males and females), and (2) a 5% interest rate.

                            

                             

                            

                             

                            	E.	
                                    Other Circumstances

                                  

                             

                            A Financial Federal Plan Participant shall be entitled to the greater of (A) his accrued benefit determined as of February 7, 1999 based on the actuarial assumptions in effect
                              under the Financial Federal Plan, or (B) his Accrued Benefit determined at any applicable date set forth in the Plan in accordance with the actuarial assumptions in effect on February 8, 1999 under the Plan.  Once an
                              individual becomes a terminated Participant or a Retired Participant, the assumptions utilized to determine the Actuarial Equivalent of his benefit shall not be changed.

                             

                            Notwithstanding the foregoing, effective as of January 1, 2002 and except as otherwise provided above in Section A., B., C. or D. of this Appendix A, the term Actuarial
                              Equivalent shall be determined as follows: (a) for purposes of the form of benefit distribution referred to in Sections E.1. and E.2. below of this Appendix A, by using the Applicable Mortality Table and the Applicable
                              Interest Rate, as hereafter defined, and (b) for purposes of the form of benefit distribution referred to in Section E.3. below, by developing a unisex table from the 1979 George B. Buck Mortality Table (for healthy or
                              disabled lives, whichever is applicable), by combining fifty-eight percent (58%) of the male annuity values, with forty-two percent (42%) of the female annuity values, based upon a seven and one-half percent (7-1/2%) interest
                              rate per annum, compounded annually.

                             

                            	

                                  	(i)	
                                    Applicable Mortality Table shall mean:

                                  

                             

                            	

                                  	(A)	
                                    for distributions with annuity starting dates prior to December 31, 2002, the 1983 Group Annuity Mortality Table based on a fixed blend of fifty percent (50%) of the male mortality rates and fifty percent (50%) of
                                      the female mortality rates as described in Section 807(d)(5)(A) of the Code (without regard to any other subparagraph of Code Section 807(d)(5)); or

                                  

                             

                            	

                                  	(B)	
                                    for distributions with annuity starting dates after December 30, 2002 and prior to January 1, 2008, the mortality table prescribed in Revenue Ruling 2001-62; or

                                  

                             

                            	

                                  	(C)	
                                    for distributions with annuity starting dates on or after the first day of the first Plan Year commencing after December 31, 2007, the 2008 Applicable Mortality Table as provided by Revenue Ruling 2007-67, which is
                                      based upon a fixed blend of fifty percent (50%) of the static male combined mortality rates and fifty percent (50%) of the static female combined mortality rates published in proposed Income Tax Regulation Section
                                      1.430(h)(3)-1 for valuation dates occurring in 2008.  Such mortality table shows, for each age, the number living based upon a starting population of one million lives at age 1 (lx),

                                      and the annual rate of mortality (qx).  The applicable Code Section 417(e)(3) mortality table for each subsequent year (“Subsequent Applicable Mortality Table”) shall be
                                      provided by the Treasury; shall generally be determined from the Code Section 430(h)(3)(A) mortality tables on the same basis as the 2008 Applicable Mortality Table; and shall automatically apply to distributions with
                                      annuity starting dates to which the specific Subsequent Applicable Mortality Table applies.

                                  

                             

                            
                              
                                	
                                        117

                                      	
                                        114

                                      	
                                        Dime Community Bank

                                      

                              

                              
                                

                            

                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      
                                                        
                                                          
                                                            Appendix A

                                                          

                                                        

                                                      

                                                    

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                            

                            

                            
                               

                              
                                	 	
                                        (ii)

                                      	
                                        Applicable Interest Rate shall mean:

                                      

                                 

                              

                            

                            	

                                  	(A)	
                                    for distributions with annuity starting dates prior to January 1, 2008, the interest rate on 30-year Treasury securities for the second full calendar month preceding the first day of each Plan Year, which interest
                                      rate shall remain in effect throughout such Plan Year with respect to all Plan benefits commencing during such Plan Year; or

                                  

                             

                            	

                                  	(B)	
                                    for distributions with annuity starting dates on or after the first day of the first Plan Year commencing after December 31, 2007, the adjusted first, second, and third segment rates for the second full calendar
                                      month preceding the first day of each Plan Year which would be determined under Code Section 430(h)(2)(C) if:

                                  

                             

                            	

                                  	(aa)	
                                    Code Section 430(h)(2)(D) were applied by substituting the average yields for the month described in subsection (bb) for the average yields for the twenty-four (24) month period described in such section;

                                  

                             

                            	

                                  	(bb)	
                                    Code Section 430(h)(2)(G)(i)(II) were applied by substituting Code Section 417(e)(3)(A)(ii)(II) for Code Section 412(b)(5)(B)(ii)(II); and

                                  

                             

                            	

                                  	(cc)	
                                    the applicable percentage under Code Section 430(h)(2)(G) were determined according to the following table:

                                  

                             

                            	In the case of Plan Years beginning:	The applicable percentage is:
	 	 
	
                                    2008

                                  	
                                    20%

                                  
	
                                    2009

                                  	
                                    40%

                                  
	
                                    2010

                                  	
                                    60%

                                  
	
                                    2011

                                  	
                                    80%

                                  

                             

                            
                              	 	
                                      1.

                                    	
                                      Lump Sum Cash Outs (Article IX):

                                    

                            

                             

                            
                              	 	
                                      2.

                                    	
                                      Plan Termination (Article XI):

                                    

                            

                             

                            
                              	 	
                                      3.

                                    	
                                      All Other Circumstances:

                                    

                            

                             

                            If as a result of actuarial increases to the benefit of a Participant who delays commencement of benefits beyond Normal Retirement Age, the Accrued Benefit of such Participant
                              would exceed the limitations under Section 8 .1A. or 8.1B., as applicable, for the Limitation Year, immediately before the actuarial increase to the Participant’s benefit that would cause such Participant’s benefit to exceed
                              the limitations of Section 8.1A. or 8.1B., payment of benefits to such Participant will be suspended in accordance with Section 9.13, if applicable; otherwise, distribution of the Participant’s benefit will commence.

                             

                            E N D   O F   D O C U M E N T

                             

                             

                            

                            
                              
                                	
                                        117

                                      	
                                        115

                                      	
                                        Dime Community Bank

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