Document:

Exhibit 10.33

    

  AMERICAN INTERNATIONAL GROUP, INC.

   

  NON-QUALIFIED RETIREMENT INCOME PLAN

   

  (Amended and Restated effective February 16, 2021)

   

  

  
  
     

  

  
     

    
      
        

    

  

  
    

  TABLE OF CONTENTS

   

  Page

   

  	ARTICLE 1	DEFINITIONS	2
	ARTICLE 2	PARTICIPATION	7
	ARTICLE 3	 RETIREMENT AND OTHER BENEFITS	8
	ARTICLE 4	EXCESS RETIREMENT INCOME	11
	ARTICLE 5	VESTING	17
	ARTICLE 6	MODES OF BENEFIT PAYMENT	17
	ARTICLE 7	DEATH BENEFITS	19
	ARTICLE 8	LIABILITY OF THE COMPANY	21
	ARTICLE 9	ADMINISTRATION OF THE PLAN	21
	ARTICLE 10	AMENDMENT OR TERMINATION OF THE PLAN	24
	ARTICLE 11	GENERAL PROVISIONS	25
	ARTICLE 12	CHANGE IN CONTROL	27
	SCHEDULE A	31
	APPENDIX A	RESTORATION OF RETIREMENT INCOME PLAN FOR CERTAIN EMPLOYEES PARTICIPATING IN THE RESTATED AMERICAN GENERAL RETIREMENT PLAN	A-1
	APPENDIX B	THE HARTFORD STEAM BOILER EXCESS RETIREMENT BENEFIT PLAN	B-1
	APPENDIX C	20TH CENTURY INDUSTRIES SUPPLEMENTAL PENSION PLAN (RESTATEMENT NO. 1)	C-1
	APPENDIX D	TREATMENT OF EMPLOYEES TRANSFERRING WITH THE SALE OF UNITED GUARANTY CORPORATION	D-1
	APPENDIX E	TREATMENT OF EMPLOYEES TRANFERRING WITH THE SALE OF FORTITUDE GROUP HOLDINGS, INC.	E-1

   

  

  
  
     

  

  
     

    
      
        

    

  

  
   

  PREAMBLE

   

  The American International Group, Inc. Non-Qualified Retirement Income Plan (hereinafter referred to as the “Plan”) became effective on April 1, 2012 and shall
    constitute an amendment, restatement and continuation of the “American International Group, Inc. Excess Retirement Income Plan”, as amended and in effect on March 31, 2012.

   

  The purpose of the Plan is to permit certain Employees of the Employer to receive additional retirement income benefits from the Employer when benefits cannot be paid
    from the American International Group, Inc. Retirement Plan due to the limitations of Sections 401(a)(17) and, prior to April 1, 2012, 415 of the Internal Revenue Code.

   

  The Plan is intended to comply with Section 409A of the Internal Revenue Code. Effective as of the end of the business day on December 31, 2015, the Plan is frozen and
    no benefits shall increase thereafter, except for amounts related to Interest Credits (as defined in the American International Group, Inc. Retirement Plan) that are reflected under the American International Group, Inc. Retirement Plan or this Plan.
    Service will be recognized after that date only for purposes of vesting and eligibility for early retirement benefits.

   

  

  
  
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  Article 1

  

   

  Definitions

   

  The following words and phrases as used herein shall have the following meanings, and the masculine, feminine and neuter gender shall be deemed to include the others
    and the singular shall include the plural, and vice versa, when appropriate, unless a different meaning is plainly required by the context:

   

  1.1              “Account” means the Account as defined in the Qualified Plan for a
    Cash Balance Participant as defined thereunder.

   

  1.2              “Affiliated Employer” means any member of the same controlled group
    of corporations as the Company or an Employer as determined under Section 414(b) or (c) of the Code.

   

  1.3              “AG Offset” means the monthly amount payable at Normal, Early,
    Postponed, or Disability Retirement Date, as applicable, in the form of a single life annuity under the Restoration Income Plan for Certain Employees Participating in the Restated American General Retirement Plan which was cashed out to the Participant
    from the American General Corporation Supplemental Executive Retirement Plan (sometimes referred to as the “AG SERP”) or a Supplemental Executive Retirement Agreement (sometimes referred to as an “AG SERA”).

   

  1.4              “Average Final Compensation” means the amount determined by dividing
    (i) the average annual Compensation of the Participant during the three consecutive years in the last ten years of his Credited Service (as defined under the Qualified Plan) affording the highest such average, or during all the years of his Credited
    Service if less than three years, by (ii) twelve (12). For purposes of determining Average Final Compensation for a Participant listed on Schedule A, the Freeze Period as defined in Section 4.6 shall be disregarded for purposes of determining whether
    years are consecutive Average Final Compensation shall not increase after December 31, 2015. Effective December 31, 2015, Average Final Compensation means the amount determined by dividing (i) the average annual Compensation of the Participant during
    the three consecutive years during the ten year period of his or her Credited Service (as defined in the Qualified Plan) prior to December 31, 2015, or during all the years of his Credited Service prior to December 31, 2015 if less than three years, by
    (ii) twelve (12).

   

  1.5              “Code” means the Internal Revenue Code of 1986, as amended from time
    to time.

   

  1.6              “Committee” means the Compensation and Management Resources
    Committee of the Board of Directors of American International Group, Inc. or any successor thereto.

   

  1.7              “Company” means American International Group, Inc. or any successor
    thereto.

   

  1.8              “Compensation” means, for amounts other than amounts determined
    under Section 1.15, the Participant’s Compensation as determined under the Qualified Plan, excluding any sales commissions payable to an Employee for services rendered to the Company. Effective as of April 1, 2012, Compensation for purposes of
    determining the amount under Section 1.15 means the Participant’s Compensation as determined under the Qualified Plan for purposes of determining Pay Credits (as defined in the Qualified Plan), provided that Compensation for any Plan Year shall be
    limited to $1,000,000 (one million dollars), adjusted annually in the same manner that the limitation under Section 401(a)(17) of the Code is adjusted to reflect cost-of-living increases, pursuant to rules established by the Plan Administrator in its
    sole discretion. Compensation for any purpose under the Plan, including for periods prior to April 1, 2012, shall not include severance payments and other amounts paid after a Participant’s Separation from Service. No Compensation paid after December
    31, 2015 shall be taken into account under the Plan for any purpose.

   

  

  
  
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  1.9              “Designated Beneficiary” means the beneficiary designated by the
    Participant pursuant to rules established by the Plan Administrator. In the event that a Participant fails to designate a beneficiary under the Plan, such Participant’s Designated Beneficiary shall be deemed to be the beneficiary with respect to such
    Participant’s Qualified Plan pre-retirement death benefit.

   

  1.10          “Disability” means the Participant is, by reason of any medically
    determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an
    accident and health plan covering employees of the Company or an Employer, including the Company’s short-term disability program.

   

  1.11          “Early Retirement Date” means the date as of which benefits commence
    for a Participant eligible for a benefit under Section 3.2.

   

  1.12          “Effective Date” of this Plan means April 1, 2012. The original
    effective date of the Plan is July 1, 1986.

   

  1.13          “Employee” means a person who is classified as an employee on the
    payroll records of an Employer. Individuals not classified as employees on the payroll records of an Employer for a particular period shall not be considered Employees for such period even if a court of administrative agency subsequently determines
    that such individuals were common law employees of the Employer during such period.

   

  1.14          “Employer” means the Company and any other company as defined in
    Sections 2.06 and 8.01 of the American International Group, Inc. Retirement Plan.

   

  1.15          “Excess Account” means the difference between (a) and (b) as stated
    below:

   

  		(a)	the Account to which the Participant would have been entitled under the Qualified Plan, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of Code Sections 401(a)(17) and
          if such Account were calculated using Compensation as defined herein including, where provided for a Participant pursuant to a written agreement with the Company, compensation paid after Separation from Service;

    

  		(b)	the Account payable to the Participant under the Qualified Plan and any predecessor thereof after the limitations imposed by the application of Code Sections 401(a)(17) disregarding, except as provided otherwise for a Participant pursuant to a
          written agreement with the Company, compensation (as defined in the Qualified Plan) paid after the Participant’s Separation from Service.

   

  Effective December 31, 2015, the Excess Account is frozen and shall not increase thereafter, nor shall there be any increase in the offset amounts that are
    applied in determining the Excess Account, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  

  
  
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  1.16          “Excess Normal Retirement Income” means the amount determined under
    Section 4.1.

   

  1.17          “Excess Opening Account Balance” means the difference between (i) the
    Opening Account Balance (as defined in the Qualified Plan), increased by Interest Credits applicable as of the determination date, to which the Participant would have been entitled under the Qualified Plan, if such Opening Balance, increased by
    Interest Credits applicable as of the determination date, were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of Code Sections 401(a)(17) and 415 and if such Opening Balance, increased by
    Interest Credits applicable as of the determination date, were calculated using Average Final Compensation as defined herein, and (ii) the Opening Balance (as defined in the Qualified Plan), increased by Interest Credits applicable as of the
    determination date, to which the Participant is entitled, taking into account the limitations imposed by the application of Code Sections 401(a)(17) and 415.

   

  1.18          “Executive” means any person, including an officer, employed on a
    regular, full-time, salaried basis by an Employer.

   

  1.19          “Frozen Accrued Benefit” means a Participant’s accrued benefit under
    the Plan as of March 31, 2012, determined as provided under Section 4.1

   

  1.20          “Grandfathered Accrued Benefit” means the accrued benefit that would be
    determined under Section 4.1, taking into account all Credited Service (as defined in the Qualified Plan), Compensation (as defined in the Qualified Plan, but excluding amounts paid after Separation from Service), and Covered Compensation until a
    Participant’s Separation from Service or death, applying the benefit formula that applied under the Qualified Plan on March 31, 2012. Effective December 31, 2015, the Grandfathered Accrued Benefit is frozen. After that date, Credited Service,
    Compensation (as defined in the prior sentence), and Covered Compensation shall not increase, nor shall there be any increase in the offset amounts that are applied in determining the amount of the Grandfathered Accrued Benefit.

   

  1.21          “Grandfathered Transition Benefit” means the benefit provided in
    Section 4.2(c) for a Participant who is a Grandfathered Transition Participant as defined in the Qualified Plan. Effective December 31, 2015, the Grandfathered Transition Benefit is frozen and shall not increase thereafter, nor shall there be any
    increase in the offset amounts that are applied in determining the amount of the Grandfathered Transition Benefit, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  

  
  
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  1.22          “Non-Grandfathered Transition Benefit” means the benefit provided in
    Section 4.2(b) for a Participant who is a Non-Grandfathered Transition Participant as defined in the Qualified Plan. Effective December 31, 2015, the Non-Grandfathered Transition Benefit is frozen and shall not increase thereafter, nor shall there be
    any increase in the offset amounts that are applied in determining the amount of the Non-Grandfathered Transition Benefit, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  1.23          “Normal Form” means a single life annuity payable for the life of the
    Participant and ending with the last monthly payment made prior to the Participant’s death.

   

  1.24          “Normal Retirement Date” means the Participant’s Normal Retirement Date
    as determined under the terms of the Qualified Plan.

   

  1.25          “Participant” means an Employee who has become a Participant pursuant
    to Article 2 of the Plan.

   

  1.26          “Plan” means the American International Group, Inc. Non-Qualified
    Retirement Income Plan, as herein set forth, and as it may hereafter be amended from time to time.

   

  1.27          “Postponed Retirement Date” means the date as of which the Participant
    commences his Postponed Retirement Benefit after his Normal Retirement Date as determined under the terms of the Qualified Plan.

   

  1.28          “Qualified Plan” means the American International Group, Inc.
    Retirement Plan, as amended from time to time.

   

  1.29          “Qualified Plan Pre-Retirement Survivor Annuity” means the benefit paid
    to a Participant’s beneficiary under the Qualified Plan upon the Participant’s death prior to his annuity commencement date.

   

  1.30          “Qualified Plan Retirement Income” means the benefit paid to a
    Participant under the Qualified Plan and includes retirement income payable upon Normal Retirement, Early Retirement or Postponed Retirement, by reason of disability or to an Employee who terminates employment with a vested interest in his Qualified
    Plan retirement income.

   

  1.31          “Retirement Board” has the meaning provided under the Qualified Plan.

   

  1.32          “Retirement Income” means the retirement benefits provided to
    Participants and their joint or contingent annuitants in accordance with the applicable provisions of this Plan and shall include the Excess Retirement Income payable pursuant to Article 4. Effective December 31, 2015, Retirement Income is frozen and
    shall not increase thereafter, nor shall there be any increase in the offset amounts that are applied in determining the amount of the Retirement Income, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  

  
  
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  1.33          “Separation from Service” means the Participant has terminated
    employment (other than by death or Disability) with the Company and each Affiliated Employer, subject to the following:

   

  (a)               For this purpose, the employment relationship is treated as
    continuing intact while the individual is on military leave, sick leave, or other bona fide leave of absence (such as temporary employment by the government) if the period of such leave does not exceed six (6) months or, if longer, so long as the
    individual’s right to reemployment with the Company or an Affiliated Employer is provided either by statute or by contract. If the period of leave exceeds six (6) months and the individual’s right to reemployment is not provided either by statute or by
    contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period.

   

  (b)               The determination of whether a Participant has terminated employment
    shall be determined based on the facts and circumstances in accordance with the rules set forth in Code Section 409A and the regulations thereunder.

   

  1.34          “Specified Employee” means a Participant who, as of the date of the
    Participant’s Separation from Service, is a key employee of the Company or an Employer. For purposes of this Plan, a Participant is a key employee if the Participant meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) applied in
    accordance with the regulations thereunder and disregarding section 416(i)(5)) at any time during the 12-month period ending on the December 31st of a Plan Year. If a
    Participant is a key employee as of such December 31st, the Participant is treated as a key employee for purposes of this Plan for the entire 12-month period beginning on
    the next following April 1st.

   

  1.35          “Surviving Spouse” means a spouse to whom the Participant is lawfully
    married on the date of the Participant’s death, for purposes of determining the individual entitled to a benefit under Article 7 with respect to a death occurring prior to April 1, 2012.

   

  1.36           “Years of Service or Fraction Thereof” means a continuous 12-month
    period or fraction thereof for each full day of active employment commencing on the Participant’s date of hire or on the anniversary thereof. After December 31, 2015, additional Years of Service or Fraction Thereof are taken into account only for
    purposes of determining a Participant’s Early Retirement Date (if any) and to determine the applicable reduction factors for a benefit commencing prior to Normal Retirement Date.

   

  

  
  
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  Article 2

  

   

  Participation

   

  Effective as of April 1, 2012, Employees who are members of the Qualified Plan and whose benefits under the Qualified Plan are limited by reason of the application of
    the limitations imposed by Section 401(a)(17) of the Code shall become “Participants” in this Plan. Prior to April 1, 2012, Employees who are members of the Qualified Plan and whose benefits under the Qualified Plan are limited by reason of the
    application of the limitations imposed by Section 401(a)(17) of the Code or Section 415 of the Code shall become Participants in this Plan. A Participant who, prior to April 1, 2012, became a Participant in the Plan solely by reason of the application
    of the limitations imposed by Section 415 of the Code and who, on and after April 1, 2012, no longer meets the eligibility requirements of the Plan, shall not accrue a benefit under the Plan on and after April 1, 2012 until such time (if ever) that he
    again meets the eligibility requirements under the Plan.

   

  Unless otherwise specified in an applicable stock or asset purchase or sales agreement between the Company and another entity, the accruals for any Participant who is
    an Employee or former Employee of an entity divested by or sold by the Company or any of its subsidiaries shall cease, and such individual shall not accrue additional benefits, or additional service for determining eligibility for any normal or early
    retirement benefit under Article 4, thereafter, unless he shall later become eligible upon rehire to participate in the Plan.

   

  For clarity, effective April 1, 2012, an individual employed by VALIC as a Field Sales Employee, Regional Manager (including Assistant Regional Manager, Associate Regional Manager,
    District Manager, Branch Manager, and Unit Manager) or Client Services Specialist became eligible to participate in the Qualified Plan and therefore became eligible to participate in the Plan, subject to the additional participation requirements of
    this Article 2 and the Plan.

   

  No individual shall become a Participant after December 31, 2015.

   

  

  
  
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  Article 3

  

   

  Retirement and Other Benefits

   

  3.1          Normal Retirement, Postponed Retirement and Disability Retirement. A
    Participant who has a Separation from Service on his Normal or Postponed Retirement Date shall be entitled to receive the Excess Normal or Postponed Retirement Income, as applicable, as described in Article 4. If a Participant incurs a Disability, the
    Participant shall be entitled to receive the Excess Disability Retirement Income described in Section 4.5.

   

  3.2          Early Retirement. For a Separation from Service occurring on or after
    April 1, 2012, if a Participant has a Separation from Service prior to Normal Retirement (other than by death or by incurring a Disability) on or after age 60 and with 5 Years of Service or Fraction Thereof or on or after age 55 with 10 or more Years
    of Service or Fraction Thereof (in each case referred to as “Early Retirement”), an Excess Retirement Income will be payable in accordance with Section 4.3. For a Separation from Service occurring prior to April 1, 2012, (i) if a Participant has a
    Separation from Service prior to Normal Retirement (other than by death or by incurring a Disability) on or after age 60 and with 5 Years of Service or Fraction Thereof, an Excess Early Retirement Income will be payable in accordance with Section 4.3,
    and (ii) if a Participant has a Separation from Service prior to Normal Retirement (other than by death or incurring a Disability), on or after age 55 with 10 or more years of Credited Service (as defined in the Qualified Plan), an Excess Retirement
    Income will be payable in accordance with Section 4.3 unless, in its sole discretion, the Committee determines that a benefit shall not be payable to the Participant. In determining the number of years of Credited Service (as defined in the Qualified
    Plan) and the number of Years of Service or Fraction Thereof for a Participant listed in Schedule A, for purposes of this Section 3.2, the number of years of Credited Service (as defined in the Qualified Plan) and the number of Years of Service or
    Fraction Thereof occurring during the Freeze Period as defined in Section 4.6 shall be included. With respect to a Separation from Service occurring on or after July 14, 2015, in determining the number of Years of Service or Fraction Thereof for a
    Participant, who is not covered by the American International Group, Inc. 2012 Executive Severance Plan (the “ESP”), solely for purposes of this Section 3.2 and Section 5, the period of time, if any, during which a Participant is to receive severance
    in the form of salary continuation (not to exceed one year) shall be included. With respect to Participants who are covered under the ESP, solely for purposes of this Section 3.2 and Section 5, Years of Service or Fraction Thereof shall include the
    period of time of that the ESP specifies shall be included.

   

  3.3          Death. If such a Participant dies prior to the commencement of benefits
    such that a death benefit is payable under the terms of the Qualified Plan, a death benefit shall be payable in accordance with Section 7.1; provided, however, that, except as hereinafter provided, no death benefit is payable if the Participant dies
    after termination of employment prior to his Early, Normal, Postponed or Disability Retirement Date. Notwithstanding the foregoing, in the case of an individual who (i) is a Participant in the Plan by reason of the merger of The Hartford Steam Boiler
    Excess Retirement Benefit Plan (the “HSB Excess Plan”), the Restoration of Retirement Income Plan for Certain Employees Participating in the Restated American General Retirement Plan (the “AG Restoration Plan”) or the 20th Century Industries Supplemental Pension Plan (the “20th Century Supplemental Plan”) into this Plan,
    (ii) terminates employment with a vested interest in his or her accrued benefit under the HSB Excess Plan, the AG Restoration Plan or the 20th Century Supplemental Plan,
    as applicable, prior to eligibility for Early, Normal, Postponed or Disability Retirement under this Plan, and (iii) dies prior to the commencement of Excess Retirement Income, a death benefit shall be payable to the Participant’s surviving spouse to
    the extent provided in the HSB Excess Plan as set forth in Appendix B, the AG Restoration Plan as set forth in Appendix A or the 20th Century Supplemental Plan as set
    forth in Appendix C, to the extent applicable to a Participant, with such benefit to commence within 90 days of the later of the date the Participant would have attained age 55 or the Participant’s date of death.

   

  

  
  
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  3.4          Merger of the AG Restoration Plan. Effective as of July 1, 2005, the AG
    Restoration Plan was merged into this Plan. Any benefit a Participant had accrued as of the date of such merger under the AG Restoration Plan shall be payable in accordance with the terms of the Plan as set forth herein.

   

  The AG Restoration Plan is attached as Appendix A to the Plan. Appendix A is only operational to the extent referenced in the Plan (exclusive of Appendix A) or
    incorporated by reference in the Plan (exclusive of Appendix A).

   

  Notwithstanding the foregoing or Article 5, a Participant shall be vested in his benefit accrued under the AG Restoration Plan to the extent provided in the AG
    Restoration Plan as set forth in Appendix A.

   

  3.5          Merger of the HSB Excess Plan. Effective as of January 1, 2005, the HSB
    Excess Plan was merged into this Plan. Any benefit a Participant had accrued as of the date of such merger under the HSB Excess Plan shall be payable in accordance with the terms of the Plan as set forth herein.

   

  The HSB Excess Plan is attached as Appendix B to the Plan. Appendix B is only operational to the extent referenced in the Plan (exclusive of Appendix B) or
    incorporated by reference in the Plan (exclusive of Appendix B).

   

  Notwithstanding the foregoing or Article 5, a Participant shall be vested in his benefit accrued under the HSB Excess Plan to the extent provided in the HSB Excess
    Plan as set forth in Appendix B.

   

  3.6          Merger of the 20th Century Supplemental Plan. Effective as of January 1, 2008, the 20th Century Supplemental Plan was merged into this Plan. Any benefit a
    Participant had accrued as of the date of such merger under the 20th Century Supplemental Plan shall be payable in accordance with the terms of the Plan as set forth
    herein.

   

  The 20th Century Supplemental Plan is attached as Appendix C to the Plan. Appendix C
    is only operational to the extent referenced in the Plan (exclusive of Appendix C) or incorporated by reference in the Plan (exclusive of Appendix C).

   

  Notwithstanding the foregoing or Article 5, a Participant shall be vested in his benefit accrued under the 20th Century Supplemental Plan to the extent provided in the 20th Century Supplemental Plan as set forth in Appendix C.

   

  

  
  
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  3.7          Frozen Accrued Benefits for Certain Employees employed by ALICO Holdings
    LLC and its subsidiaries (“ALICO”). The accrued benefit (including eligibility for any early retirement subsidy) of each Participant who is an employee of ALICO as of November 1, 2010, the date the transactions described in the Stock Purchase Agreement
    entered into among the Company, ALICO Holdings LLC and MetLife, Inc. dated as of March 7, 2010 closed (the “Closing Date”), other than a Participant who is absent from work on such date due to a long-term disability or an unpaid medical leave of
    absence or leave due to a workplace injury covered by a workers’ compensation policy or program incurred more than six months prior to the sale (“ALICO Employee”), shall be frozen as of the Closing Date. The liability for the frozen accrued benefit of
    each ALICO Employee shall be transferred to a similar nonqualified deferred compensation plan maintained by MetLife, Inc. or one of its subsidiaries, effective as of the Closing Date.

   

  

  
  
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  Article 4

  

    Excess Retirement Income

   

  4.1          For a Participant who incurs a Separation from Service prior to April 1,
    2012, subject to Section 6.3 , the Excess Normal Retirement Income payable to an eligible Participant in the Normal Form shall, commencing as of his Normal Retirement Date, be equal to the difference between (a) and (b) as stated below:

   

  (a)               the monthly amount of the Qualified Plan Retirement Income payable
    upon his Normal Retirement Date to which the Participant would have been entitled under the Qualified Plan, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of Code Sections
    401(a)(l7) and 415 and if such Qualified Plan Retirement Income were calculated using Average Final Compensation as defined herein;

   

  (b)               the sum of (i) the monthly amount of Qualified Plan Retirement Income
    payable upon his Normal Retirement Date to the Participant under the Qualified Plan and any predecessor thereof after the limitations imposed by the application of Code Sections 401(a)(17) and 415 (whether or not such benefits are actually paid at such
    date) and (ii) the AG Offset, if any.

   

  4.2          Effective April 1, 2012, subject to Section 6.3, the Excess Normal
    Retirement Income payable to an eligible Participant in the form provided under Article 6 shall, commencing as of his Normal Retirement Date, be equal to the amount determined in (a), (b), or (c) below, as applicable. Effective December 31, 2015, the
    Plan is frozen; consequently, such amount shall not increase after December 31, 2015, nor shall there be any increase in the offset amounts that are applied in determining such amount, other than any increase related to Interest Credits (as defined in
    the Qualified Plan).

   

  (a)               The Excess Normal Retirement Income payable to an eligible
    Participant (other than a Participant eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit) shall be equal to the Participant’s Excess Account.

   

  (b)               The Excess Normal Retirement Income payable to a Participant eligible
    for a Non-Grandfathered Transition Benefit shall be equal to the greater of (A) or (B), where:

   

  (A)             equals the Excess Account, reduced by the AG Offset, if any,
    and

   

  (B)              the sum of the Excess Account, disregarding the Excess Opening
    Balance, and the Frozen Accrued Benefit,

   

  (c)               The Excess Normal Retirement Income payable to a Participant eligible
    for a Grandfathered Transition Benefit shall be equal to the greatest of (A), (B), or (C), where:

   

  (A)             equals the Excess Account, reduced by the AG Offset, if any,
    and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit, and

   

  (C)              equals the Grandfathered Accrued Benefit.

   

  

  
  
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  4.3          A Participant who is eligible for Early Retirement under Section 3.2
    shall be entitled to the benefit determined in this Section 4.3. Effective December 31, 2015, the Plan is frozen; consequently, such benefit shall not increase after December 31, 2015, nor shall there be any increase in the offset amounts that are
    applied in determining such benefit, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  (a)               For a Separation from Service prior to April 1, 2012, subject to
    Section 6.3, if a Participant who is eligible for Early Retirement under Section 3.2 incurs a Separation from Service prior to Normal Retirement Date (other than by death or Disability), an amount shall be payable under this Plan commencing as of such
    Early Retirement Date (the “Excess Early Retirement Income”). Such Excess Early Retirement Income payable in the Normal Form shall be equal to the difference between (i) and (ii) as stated below:

   

  (i)                 the monthly amount of the Qualified Plan Retirement
    Income payable upon his Early Retirement Date to which the Participant would have been entitled under the Qualified Plan, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of
    Code Sections 401(a)(17) and 415 and if such Qualified Plan Retirement Income were calculated using Average Final Compensation as defined herein;

   

  (ii)              the sum of (A) the monthly amount of Qualified Plan
    Retirement Income payable upon his Early Retirement Date to the Participant under the Qualified Plan and any predecessor thereof after the limitations imposed by the application of Code Sections 401(a)(17) and 415 (whether or not such benefits are
    actually paid at such date) and (B) the AG Offset.

   

  If the Participant is not eligible for Early Retirement under the Qualified Plan, the amounts computed under (i) and (ii) shall be the amounts that would be payable at
    Normal Retirement Date under those sections, but reduced by 6-2/3% for each year (and a fraction thereof for each full month) that retirement precedes age 65.

   

  (b)               Effective April 1, 2012, the Excess Early Retirement Income payable
    to an eligible Participant (other than a Participant Eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit) in the form provided under Article 6 shall be equal to the Excess Account.

   

  (c)               Effective April 1, 2012, the Excess Early Retirement Income payable
    to a Participant eligible for a Non-Grandfathered Transition Benefit shall be equal to the greater of (A) or (B), where:

   

  (A)             equals the Excess Account reduced by the AG Offset, if any, and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit.

   

  

  
  
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  (d)               Effective April 1, 2012, the Excess Early Retirement Income payable
    to a Participant eligible for a Grandfathered Transition Benefit shall be equal to the greatest of (A), (B), or (C), where:

   

  (A)             equals the Excess Account, reduced by the AG Offset, if any,
    and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit, and

   

  (C)              equals the Grandfathered Accrued Benefit.

   

  (e)               The Frozen Accrued Benefit and the Grandfathered Accrued Benefit
    shall be reduced to reflect early commencement by applying the early retirement factors set forth in the Qualified Plan.

   

  (f)                If the Participant is not eligible for Early Retirement under the
    Qualified Plan, the Frozen Accrued Benefit and the Grandfathered Accrued Benefit shall be the amounts that would be payable at Normal Retirement Date, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that
    retirement precedes age 65 and 3-1/3% for each year (and a fraction thereof for each full month) that retirement precedes age 60.

   

  (g)               For a Participant listed on Schedule A whose benefit is determined
    under Section 4.6(a), for purposes of determining what reduction factors apply under this Section 4.3, the number of years of Credited Service (as defined in the Qualified Plan) occurring during the Freeze Period shall be disregarded.

   

  4.4          A Participant who is eligible for a benefit commencing on his Postponed
    Retirement Date under Section 3.1 shall be entitled to the benefit determined in this Section 4.4. Effective December 31, 2015, the Plan is frozen; consequently, such benefit shall not increase after December 31, 2015, nor shall there be any increase
    in the offset amounts that are applied in determining such benefit, other than any increase related to Interest Credits (as defined in the Qualified Plan).

   

  (a)               For a Participant who incurs a Separation from Service prior to
    April 1, 2012, subject to Section 6.3, the amount payable to an eligible Participant in the Normal Form, commencing as of his Postponed Retirement Date (the “Excess Postponed Retirement Income”), shall be equal to the difference between (i) and (ii) as
    stated below:

   

  (i)                 the monthly amount of the Qualified Plan Retirement
    Income payable upon his Postponed Retirement Date to which the Participant would have been entitled under the Qualified Plan, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application
    of Code Sections 401(a)(17) and 415 and if such Qualified Plan Retirement Income were calculated using Average Final Compensation as defined herein;

   

  (ii)              the sum of (A) the monthly amount of Qualified Plan
    Retirement Income payable upon his Postponed Retirement Date to the Participant under the Qualified Plan and any predecessor thereof after the limitations imposed by the application of Code Sections 401(a)(17) and 415 (whether or not such benefits are
    actually paid at such date) and (B) the AG Offset.

   

  

  
  
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  (b)               Effective April 1, 2012, the Excess Postponed Retirement Income
    payable to an eligible Participant (other than a Participant eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit) in the form provided under Article 6 shall be equal to the Excess Account, subject to Section
    4.4(f).

   

  (c)               Effective April 1, 2012, the Excess Postponed Retirement Income
    payable to a Participant eligible for a Non-Grandfathered Transition Benefit shall be equal to the greater of (A) or (B), subject to Section 4.4(f), where:

   

  (A)             equals the Excess Account reduced by the AG Offset, and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit.

   

  (d)               Effective April 1, 2012, the Excess Postponed Retirement Income
    payable to a Participant eligible for a Grandfathered Transition Benefit shall be equal to the greatest of (A), (B), or (C), subject to Section 4.4(f), where:

   

  (A)             equals the Excess Account reduced by the AG Offset, and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit, and

   

  (C)              equals the Grandfathered Accrued Benefit.

   

  (e)               For clarity, if the late retirement factors set forth in the
    Qualified Plan apply in determining the monthly amount of the Qualified Plan Retirement Income payable upon a Participant’s Postponed Retirement referred to in Sections 4.4(a)(i) and (ii), 4.4(c)(B), and 4.4(d)(B) and (C), such late retirement factors
    shall apply in determining the amount of the Excess Postponed Retirement Income payable hereunder for a Participant listed on Schedule A whose benefit is determined under Section 4.6(a) or 4.6(b).

   

  (f)                The Excess Accounts for purposes of determining the amounts in
    Sections 4.4(b), 4.4(c), and 4.4(d) shall be increased by the excess (if any) of (i) the Excess Account at Normal Retirement Date increased by the late retirement factors set forth in the Qualified Plan in Section 2.14(b)(iii) over (ii) the Excess
    Account at the Postponed Retirement Date. The Grandfathered Accrued Benefit and the Frozen Accrued Benefit shall be increased after Normal Retirement Date by applying the late retirement factors set forth in Appendix C of the Qualified Plan.

   

  

  
  
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  4.5          A Participant who is eligible for Disability Retirement under Section 3.1 shall be entitled to the benefit determined in this Section 4.5. Effective
    December 31, 2015, the Retirement Income for a Participant who is eligible for Disability Retirement shall not increase after December 31, 2015, nor shall there be any increase in the offset amounts that are applied in determining the amount of the
    Disability Retirement benefit, except for amounts related to Interest Credits (as defined in the Qualified Plan). For clarity, a Participant who incurs a Disability, regardless of the date of Disability, shall cease receiving further accruals as of
    December 31, 2015, and any Participant who incurs a Disability after that date shall be entitled only to his frozen accrued benefit as of December 31, 2015 (increased, if applicable, by any amount attributable to Interest Credits, as defined in the
    Qualified Plan).

   

  (a)               For a Participant who is determined to have incurred a Disability
    prior to April 1, 2012 and prior to his Normal Retirement Date (including a Participant who is determined to have incurred a Disability prior to his Early Retirement Date), subject to Section 6.3, an amount shall be payable in accordance with the terms
    of this Plan on such Participant’s Normal Retirement Date (the “Excess Disability Retirement Income”). The Excess Disability Retirement Income payable in the Normal Form shall be equal to the difference between (i) and (ii) as stated below:

   

  (i)                 the monthly amount of the Qualified Plan Retirement
    Income payable by reason of disability to which the Participant would have been entitled under the Qualified Plan, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of Code
    Sections 401(a)(17) and 415 and if such Qualified Plan Retirement Income were calculated using Average Final Compensation as defined herein;

   

  (ii)              the sum of (X) the monthly amount of Qualified Plan
    Retirement Income payable by reason of disability to the Participant under the Qualified Plan and any predecessor thereof as of such Participant’s Normal Retirement Date after the limitations imposed by the application of Code Sections 401(a)(17) and
    415 (whether or not such benefits are actually paid at such date) and (Y) the AG Offset.

   

  (b)               The Excess Disability Retirement Income payable to an eligible
    Participant incurring a Disability on or after April 1, 2012 (other than a Participant Eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit) shall be equal to the Excess Account.

   

  (c)               The Excess Disability Retirement Income payable to a Participant
    incurring a Disability on or after April 1, 2012 eligible for a Non-Grandfathered Transition Benefit shall be equal to the greater of (A) or (B), where:

   

  (A)             equals the Excess Account reduced by the AG Offset, and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance and the Frozen Accrued Benefit.

   

  

  
  
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  (d)               The Excess Disability Retirement Income payable to a Participant
    incurring a Disability on or after April 1, 2012 eligible for a Grandfathered Transition Benefit shall be equal to the greatest of (A), (B), or (C), where:

   

  (A)             equals the Excess Account reduced by the AG Offset, and

   

  (B)              equals the sum of the Excess Account, disregarding the Excess
    Opening Balance, and the Frozen Accrued Benefit, and

   

  (C)              equals the Grandfathered Accrued Benefit.

   

  4.6          Restriction on Benefit Accruals for Certain Participants.

   

  (a)               Notwithstanding anything in the Plan to the contrary, pursuant to
    rules established by the U.S. Treasury Department’s special pay master (“Special Pay Master”), the benefit accruals of Participants listed in Schedule A shall freeze effective as of the date provided therein, and no benefit shall accrue under the Plan
    with respect to such Participants during the period set forth in Schedule A (“Freeze Period”) as may be amended from time to time pursuant to rules established by the Special Pay Master. For purposes of determining the amounts described under Sections
    4.1(a), 4.3(a), 4.4(a), and 4.5(a) for a Participant listed in Schedule A, the Freeze Period shall be disregarded in determining Credited Service as defined in the Qualified Plan and Average Final Compensation as defined herein. For purposes of
    determining the amounts described under Sections 4.1(b), 4.3(b), 4.4(b), and 4.5(b) for a Participant listed in Schedule A, the Freeze Period shall be disregarded in determining Credited Service and Average Final Compensation, each as defined in the
    Qualified Plan.

   

  (b)               Notwithstanding the foregoing paragraph, the benefit payable to a
    Participant listed on Schedule A shall be the lesser of the amount determined under Section 4.6(a) or the amount determined without regard to Section 4.6(a).

   

  4.7          Actuarial equivalence. For purposes of determining the benefit payable
    under Sections 4.2(b) and (c), 4.3(c) and (d), 4.4(c) and (d), and 4.5(c) and (d), amounts payable as an annuity shall be converted to a lump-sum applying the factors that apply under the Qualified Plan for such purpose with respect to the Qualified
    Plan benefit.

   

  

  
  
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  Article 5

  

   

  Vesting

  

   

  A Participant shall have a nonforfeitable right to Excess Retirement Income under this Plan at such time that he attains his Normal Retirement Date. In addition, a
    Participant shall have a nonforfeitable right to Excess Retirement Income if he is eligible for Early Retirement pursuant to Section 3.2. Credited Service (as defined in the Qualified Plan), Years of Service or Fraction Thereof, and participation
    occurring during the Freeze Period as defined in Section 4.6 for a Participant listed on Schedule A shall be included in determining whether a Participant is vested, pursuant to this Article 5. Years of Service or Fraction Thereof occurring after
    December 31, 2015 shall also be included for determining whether a Participant is vested pursuant to this Article 5. Years of Service or Fraction Thereof with respect to the period of time, if any, during which a Participant who is not covered by the
    ESP is to receive severance in the form of salary continuation or during which the ESP specifies a Participant who is covered by the ESP must receive credit under this Article 5 shall be included in determining whether a Participant is vested pursuant
    to this Article 5.

   

  A Participant who terminates employment prior to attaining his Early or Normal Retirement Date, other than by reason of Disability (as provided for in Section 4.5),
    shall have no rights or claims to Retirement Income under this Plan as of his date of termination. In the case of death, a Participant’s Designated Beneficiary may have a claim for benefits in accordance with Article 3 and Article 7.

   

  Article 6

  

    Modes of Benefit Payment

   

  6.1              Except as provided in Section 6.2, any Excess Retirement Income payable under this Plan
    accrued prior to April 1, 2012 shall be paid in the Normal Form, and any Excess Retirement Income payable under the Plan accrued on and after April 1, 2012 shall be paid in a lump sum. If a Participant dies prior to the commencement of benefits under
    the Plan, no benefits will be payable under the Plan except as specified in Article 7.

   

  6.2              Only with respect to amounts accrued prior to April 1, 2012, in lieu of the Normal
    Form, a Participant may elect payment in an optional form of payment to the extent provided herein. The optional forms of benefits under the Plan shall include any of the annuity optional forms of benefits available under the Qualified Plan except for
    the Social Security Adjustment Option. Optional forms of benefit shall be actuarially equivalent to the Normal Form of benefit determined in accordance with the actuarial equivalent factors in effect under the Qualified Plan as of the date payment is
    to be made.

   

  A Participant may elect an optional form of payment on a form provided by the Committee for such purpose. A Participant who has elected an annuity form of payment (or
    for whom the Normal Form of payment is in effect) may, at any time prior to Separation from Service or, in the case of Disability, prior to Normal Retirement Date, elect another form of annuity payment available under the Qualified Plan provided that
    such other form of payment is actuarially equivalent based on the actuarial equivalent factors in effect under the Qualified Plan as of the date payment is to be made. In the absence of any such an election, payment shall be made in the Normal Form.

   

  6.3              Except as hereinafter provided or as provided in Section 6.4, payment of Excess
    Retirement Income under this Plan shall commence (or, for amounts accrued on and after April 1, 2012, shall be paid) within 90 days after the Participant incurs a Separation from Service with the Employer and each Affiliated Employer by reason of
    Normal, Early or Postponed Retirement. If the Participant terminates employment by reason of Disability Retirement, payment of Excess Retirement Income shall commence at the Participant’s Normal Retirement Date. Provided further that if the Participant
    is a Specified Employee when such Participant incurs a Separation from Service, such Participant’s Excess Retirement Income (except in the case of Disability Retirement) shall commence to be paid six months after the Participant separates from service.
    To the extent that monthly payments are delayed by reason of the foregoing six-month delay, such delayed monthly payments shall be paid to the Participant in a lump sum amount when his Excess Retirement Income commences adjusted with interest at an
    annual rate of 5%. To the extent that a lump sum payment is delayed by reason of the foregoing six month delay, such delayed payment shall be adjusted with interest at an annual rate of 5%.

   

  

  
  
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  6.4              Special Commencement Date Rules for Certain Participants. This Section 6.4 provides
    special rules for determining the commencement date of Excess Retirement Income benefits for certain participants, as follows:

   

  (a)                Except as described in (b), (c) or (d) below, in the case of a Participant who
    terminated employment with a vested right to Excess Retirement Income prior to January 1, 2008 (other than by reason of Disability Retirement) and who has not commenced receiving such Excess Retirement Income benefit by January 1, 2009, such
    Participant shall commence his or her Excess Retirement Income as of March 1, 2009.

   

  (b)               In the case of an individual who (i) is a Participant in the Plan by reason of the
    merger of the HSB Excess Plan into this Plan; (ii) has a vested interest in his or her accrued benefit under the HSB Excess Plan and (iii) terminates employment prior to eligibility for Early, Normal, Postponed or Disability Retirement under this Plan,
    such Participant shall commence payment of such HSB Excess Retirement Plan benefit within 90 days after the attainment of age 60 if such Participant terminated employment prior to age 55 or within 90 days after Separation from Service (but not earlier
    than six months after Separation from Service if the Participant is a Specified Employee) if such Participant terminates employment at or after age 55. To the extent that monthly payments are delayed by reason of the foregoing six-month delay, such
    delayed monthly payments shall be paid to the Participant in a lump sum amount when his Excess Retirement Income commences adjusted with interest at an annual rate of 5%.

   

  If a Participant is described in (i) or (ii) above, but has, however, terminated employment after qualifying for Early, Normal, Postponed or Disability Retirement, such
    Participant’s Excess Retirement Income shall be paid as specified in Section 6.3, subject to Section 6.4(e).

   

  (c)               In the case of an individual who (i) is a Participant in the Plan by reason of the
    merger of the AG Restoration Plan into this Plan; (ii) has a vested interest in his or her accrued benefit under the AG Restoration Plan and (iii) terminates employment prior to eligibility for Early, Normal, Postponed or Disability Retirement under
    this Plan, such Participant shall commence payment of such AG Restoration Plan benefit within 90 days after the attainment of age 55 if such Participant had earned 10 or more Years of Credited Service or within 90 days after the attainment of age 60 if
    such Participant had earned less than 10 Years of Credited Service (but not earlier than six months after Separation from Service if the Participant is a Specified Employee). To the extent that monthly payments are delayed by reason of the foregoing
    six-month delay, such delayed monthly payments shall be paid to the Participant in a lump sum amount when his Excess Retirement Income commences, adjusted with interest at an annual rate of 5%.

   

  If a Participant is described in (i) or (ii) above, but has, however, terminated employment after qualifying for Early, Normal, Postponed or Disability Retirement, such
    Participant’s Excess Retirement Income shall be paid as specified in Section 6.3, subject to Section 6.4(e).

   

  (d)               In the case of an individual who (i) is a Participant in the Plan by
    reason of the merger of the 20th Century Supplemental Plan into this Plan; (ii) has a vested interest in his or her accrued benefit under the 20th Century Supplemental Plan and (iii) terminates employment prior to eligibility for Early, Normal, Postponed or Disability Retirement under this Plan, such Participant shall commence payment of
    such 20th Century Supplemental Plan benefit within 90 days of the attainment of age 55 if such Participant had earned 10 or more Years of Credited Service or within
    90 days of the attainment of age 60 if such Participant had earned less than 10 Years of Credited Service (but not earlier than six months after Separation from Service if the Participant is a Specified Employee). To the extent that monthly payments
    are delayed by reason of the foregoing six-month delay, such delayed monthly payments shall be paid to the Participant in a lump sum amount when his Excess Retirement Income commences, adjusted with interest at an annual rate of 5%.

   

  

  
  
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  If a Participant is described in (i) or (ii) above, but has, however, terminated employment after qualifying for Early, Normal, Postponed or Disability Retirement, such
    Participant’s Excess Retirement Income shall be paid as specified in Section 6.3, subject to Section 6.4(e).

   

  (e)               Notwithstanding any other provision to the contrary, this Amendment shall not have the
    effect of accelerating payment of a benefit into the 2008 calendar year which, in the absence of this Amendment, would be paid after December 31, 2008. Any benefit which would be paid in 2008 (or earlier) as the result of this Amendment shall be paid
    instead as of March 1, 2009. This Amendment shall not have the effect of deferring payment of a benefit beyond 2008 if, in the absence of this Amendment, such benefit would be paid in 2008.

   

  Article 7

  

   

  Death Benefits

  7.                         

  7.1              Effective December 31, 2015, the Plan is frozen; subsequently, the death benefits
    described in this Article 7 shall not increase after December 31, 2015, nor shall there be any increase in the offset amounts that are applied in determining the amount of the death benefits, other than any increase related to Interest Credits (as
    defined in the Qualified Plan). Upon the death of (i) a Participant who has not terminated from employment prior to his Normal, Early, or Postponed Retirement Date, or (ii) a Participant who terminates employment on a Normal, Early, or Postponed
    Retirement Date and dies prior to the date benefits commence under the Plan, if a Qualified Plan Pre-Retirement Survivor Annuity is payable under the Qualified Plan to the Surviving Spouse or, for deaths occurring on or after April 1, 2012, to the
    Participant’s beneficiary under the Qualified Plan, an amount (the “Excess Pre-Retirement Survivor Annuity”) shall be payable to the Surviving Spouse or, for deaths occurring on or after April 1, 2012, the Designated Beneficiary under this Plan.

   

  (a)               For deaths occurring prior to April 1, 2012, the monthly amount of the Excess
    Pre-Retirement Survivor Annuity payable to a Surviving Spouse shall be equal to (i) less (ii) less (iii) as stated below:

   

  (i)                 the monthly amount of the Qualified Plan Pre-Retirement Survivor Annuity to
    which the Surviving Spouse would have been entitled under the Qualified Plan and any predecessor thereof as of the date of death or, if later, as of the first day of the calendar month coincident with or next following the date the Participant would
    have attained age 55, if such benefit were calculated under the Qualified Plan without giving effect to the limitations imposed by the application of Code Sections 401(a)(17) and 415 and if such Qualified Plan Pre-Retirement Survivor Annuity were
    calculated using Average Final Compensation as defined herein; less

   

  (ii)              the monthly amount of the Qualified Plan Pre-Retirement Survivor Annuity
    payable to the Surviving Spouse under the Qualified Plan and any predecessor thereof as of the date of death, or, if later, as of the first day of the calendar month coincident with or next following the date the Participant would have attained age 55
    after the limitations imposed by the application of Code Sections 401(a)(17) and 415 (whether or not such benefits are actually paid as of such date); less

   

  (iii)            the AG Offset, if any.

   

  For purposes of (ii) and (iii) above, if the Participant is not eligible for Early Retirement under the Qualified Plan, the amounts computed under (ii) and (iii) shall
    be the amounts that would be payable at Normal Retirement Date under those sections, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that payment precedes age 65 and 3-1/3% for each year (and a fraction
    thereof for each full month) that payment precedes age 60.

   

  For a Participant listed on Schedule A whose benefit is determined under Section 7.4(a), for purposes of determining what reduction factors apply for purposes of this
    Section 7.1, the number of years of Credited Service (as defined in the Qualified Plan) occurring during the Freeze Period shall be disregarded.

   

  

  
  
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  (b)               For a death occurring on or after April 1, 2012, an Excess Pre-Retirement Survivor
    Annuity shall be payable to an eligible Participant’s Designated Beneficiary.

   

  (i)                 For the Designated Beneficiary of an eligible Participant (other than a
    Participant eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit), the amount of the Excess Pre-Retirement Survivor Annuity shall be equal to the Excess Account.

   

  (ii)              For the Designated Beneficiary of an eligible Participant who is eligible for
    a Non-Grandfathered Transition Benefit, the amount of the Excess Pre-Retirement Survivor Annuity shall be equal to the Excess Account, reduced by the AG Offset.

   

  (iii)            For the Designated Beneficiary of an eligible Participant who is eligible for a
    Grandfathered Transition Benefit, the amount of the Excess Pre-Retirement Survivor Annuity shall be equal to the greater of (X) the Excess Account, reduced by the AG Offset, or (Y) the Grandfathered Accrued Benefit reduced to reflect early
    commencement, if applicable, by applying the early retirement factors set forth in the Qualified Plan, reduced by the AG Offset. If the Participant is not eligible for Early Retirement under the Qualified Plan, the Grandfathered Accrued Benefit shall
    be the amounts that would be payable at Normal Retirement Date, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that payment preceded age 65 and 3-1/3% for each year (and a fraction thereof for each full
    month) that payment preceded age 60. For a Participant listed on Schedule A whose benefit is determined under Section 7.4(a), for purposes of determining what reduction factors apply for purposes of this Section 7.1, the number of years of Credited
    Service (as defined in the Qualified Plan) occurring during the Freeze Period shall be disregarded.

   

  (c)               Actuarial equivalence. For purposes of determining the benefit payable under Section
    7.1(b)(iii), amounts payable as an annuity shall be converted to a lump-sum applying the factors that apply under the Qualified Plan for such purpose with respect to the Qualified Plan benefit at the time such benefit commences.

   

  7.2              For a death occurring prior to April 1, 2012, any Excess
    Pre-Retirement Survivor Annuity shall be payable over the lifetime of the Surviving Spouse in monthly installments commencing after the Participant’s date of death or, if later, within 90 days after the date the Participant would have attained age 55
    and ceasing with the last monthly payment made prior to the Surviving Spouse’s death. For a Participant other than a Participant eligible for a Non-Grandfathered Transition Benefit or a Grandfathered Transition Benefit, for a death occurring on and
    after April 1, 2012, any Excess Pre-Retirement Survivor Annuity shall be payable in a single lump sum to the Designated Beneficiary within 90 days after the death of the Participant. For a Participant eligible for a Non-Grandfathered Transition
    Benefit, for a death occurring on or after April 1, 2012, (i) the Excess Opening Account Balance shall be payable over the lifetime of the Designated Beneficiary in monthly installments commencing after the Participant’s date of death or, if later,
    within 90 days after the date the Participant would have attained age 55 and ceasing with the last monthly payment made prior to the Designated Beneficiary’s death, and (ii) benefits accrued on or after April 1, 2012 shall be payable in a single lump
    sum to the Designated Beneficiary within 90 days after the death of the Participant. For a Participant eligible for a Grandfathered Transition Benefit, for a death occurring on or after April 1, 2012, (i) the Frozen Accrued Benefit shall be payable
    over the lifetime of the Designated Beneficiary in monthly installments commencing after the Participant’s date of death or, if later, within 90 days after the date the Participant would have attained age 55 and ceasing with the last monthly payment
    made prior to the Designated Beneficiary’s death, and (ii) benefits accrued on or after April 1, 2012 shall be payable in a single lump sum to the Designated Beneficiary within 90 days after the death of the Participant.

   

  7.3              Except as provided in Section 3.3, upon the death of a Participant who terminated from
    employment prior to his Normal, Early, Postponed or Disability Retirement Date, no Excess Pre-Retirement Survivor Annuity shall be payable to such Participant’s Surviving Spouse or Designated Beneficiary under this Plan. Except as provided in
    Article 6, with respect to a Participant who has retired and commenced receiving a benefit in a form that provides for continuation after the Participant’s death, no other death benefits shall be payable from the Plan.

   

  7.4              Restriction for Certain Participants.

   

  (a)               Notwithstanding anything in the Plan to the contrary, for purposes of determining the
    amount payable under Section 7.1 with respect to a Participant listed on Schedule A, the Freeze Period as defined in Section 4.6 shall be disregarded in determining (i) Credited Service as defined in the Qualified Plan and Average Final Compensation as
    defined herein, for purposes of determining the amount under Section 7.1(a), and (ii) Credited Service and Average Final Compensation, each as defined in the Qualified Plan, for purposes of determining the amount under Section 7.1(b).

   

  (b)               Notwithstanding the foregoing paragraph, the benefit payable to the Surviving Spouse or
    Designated Beneficiary of a Participant listed on Schedule A shall be the lesser of the amount determined under Section 7.4(a) or the amount determined under the Plan without regard to Section 7.4(a).

   

  

  
  
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  Article 8

  

    Liability of the Company

  8.                         

  8.1              The benefits of this Plan shall be paid by the Employer and shall not be funded prior
    to the time paid to the Participant, Designated Beneficiary, Surviving Spouse or joint or contingent annuitant designated by the Participant, unless and except as expressly provided otherwise by the Company. For clarity, the Company may, in its sole
    discretion, establish a grantor trust, escrow agreement or similar arrangement, subject to the claims of general creditors, to provide a source of funds to assist it in meeting its liabilities under the Plan.

   

  8.2              A Participant who is vested in a benefit under this Plan shall be an unsecured creditor
    of the Employer as to the payment of any benefit under this Plan.

   

  Article 9

  

   

  Administration of the Plan

  9.                         

  9.1              Except for the functions reserved to the Company, the Retirement Board, or the Employee
    Benefits Department of the Company, the administration of the Plan shall be the responsibility of the Committee.

   

  9.2              In its role as Plan Administrator, the Committee shall have the power and the duty to
    take all actions and to make all decisions necessary or proper to carry out the Plan. The determination of the Committee as to any question involving the general administration and interpretation of the Plan shall be final, conclusive and binding. Any
    discretionary actions to be taken under the Plan by the Committee shall be uniform in their nature and applicable to all persons similarly situated. Without limiting the generality of the foregoing, the Committee, in its role as Plan Administrator,
    shall have the following powers and duties:

   

  (a)               To furnish to all Participants, upon request, copies of the Plan; and to require any
    person to furnish such information as it may request for the purpose of the proper administration of the Plan as a condition to receiving any benefits under the Plan;

   

  (b)               To make and enforce such rules and regulations and prescribe the use of such forms as it
    shall deem necessary for the efficient administration of the Plan;

   

  (c)               To interpret the Plan, and to resolve ambiguities, inconsistencies and omissions, which
    findings shall be binding, final and conclusive;

   

  (d)               To decide on questions concerning the Plan in accordance with the provisions of the
    Plan;

   

  (e)               The power to delegate its role as Plan Administrator to a person who may or may not be a
    member of the Committee for the purpose of ERISA; if the Committee does not so designate an Administrator, the Committee shall be the Plan Administrator;

   

  (f)                To allocate any such powers and duties to or among individual members of the Committee;
    and

   

  (g)               To designate persons other than Committee members to carry out any duty or power which
    would otherwise be a responsibility of the Committee or Administrator, under the terms of the Plan.

   

  9.3              To the extent permitted by law, the Committee and any person to whom
    it may delegate any duty or power in connection with administering the Plan, the Employer, and the officers and directors thereof, shall be entitled to rely conclusively upon, and shall be fully protected in any action taken or suffered by them in good
    faith in the reliance upon, any actuary, counsel , accountant, other specialist, or other person selected by the Committee, or in reliance upon any tables, valuations, certificates, opinions or reports which shall be furnished by any of them. Further,
    to the extent permitted by law, no member of the Committee, nor the Employer, nor the officers or directors thereof, shall be liable for any neglect, omission or wrongdoing of any other members of the Committee, agent, officer or employee of an
    Employer. Any person claiming under the Plan shall look solely to the Employer for redress.

   

  9.4              All expenses incurred prior to the termination of the Plan that shall arise in
    connection with the administration of the Plan, including, but not limited to administrative expenses, proper charges and disbursements, compensation and other expenses and charges of any actuary, counsel, accountant, specialist, or other person who
    shall be employed by the Committee in connection with the administration thereof, shall be paid by the Employer.

   

  

  
  
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  9.5              Claims Procedure.

   

  (a)               In General

   

  (i)                 Application. The claims procedures in Section 9.5(b) of the Plan apply to
    all claims for benefits of any kind other than claims related to disability benefits that are governed by the claims procedures in Section 9.5(c) of the Plan.

   

  (ii)              Filing of a Claim. A Participant, beneficiary, or other individual must file a
    claim for benefits under the Plan by filing a written claim, identified as a claim for benefits, with the Retirement Board (Employee Benefits Department in the case of a claim governed by Section 9.5(c)(i) of the Plan). In addition, the Retirement
    Board (Employee Benefits Department in the case of a claim governed by Section 9.5(c)(i) of the Plan) may treat any other written communication received by it as a claim for benefits, even if the writing or communication is not identified as a claim
    for benefits. In addition, a Participant, beneficiary, or other individuals alleging a violation of or seeking a remedy under any provision of the Act, other applicable law, the terms or the Plan, or asserting any other claims that arise under or in
    connection with the Plan shall also be subject to and must file any and all such claims under the claims procedure described in this Section 9.5 of the Plan.

   

  (iii)            Approval of a Claim. A claim is considered approved only if its approval is
    communicated in writing to a claimant. If a claimant does not receive a response to a claim for benefits within the applicable time period, the claimant may proceed with an appeal under the procedures described in Section 9.5(b) and (c), as applicable.

   

  (iv)             Claims Procedures Mandatory in All Cases. A claimant must follow the claims
    procedures (including both the initial determination and review processes) set forth in this Section 9.5 of the Plan before taking action in any other forum regarding a claim of any kind under or related to the Plan. Any such suit or action shall be
    filed within one year of the time the claim arises or it shall be deemed waived and abandoned. Also, any suit or action will be subject to such limitation period as applies under the Act or other applicable law, measured from the date a claim arises.

   

  (v)               Discretionary Acts. Benefits under this Plan will be paid
    only if the Retirement Board (Employee Benefits Department in the case of a claim governed by Section 9.5(c)(i) of the Plan) decides in its discretion that the applicant is entitled to them. In exercising its discretionary powers under the Plan, the
    Retirement Board (Employee Benefits Department in the case of a claim governed by Section 9.5(c)(i) of the Plan) will have the broadest discretion permissible under the Act and any other applicable laws and its decisions will be final and binding upon
    all persons affected thereby.

   

  (vi)             Delegation of Authority. The Retirement Board (Employee Benefits Department in
    the case of a claim governed by Section 9.5(c)(i) of the Plan) may, in its sole discretion, delegate any and all authority under this Section 9.5 of the Plan, in any manner. Any delegation of some or all of the Retirement Board’s (Employee Benefits
    Department’s in the case of a claim governed by Section 9.5(c)(i) of the Plan) authority under this Section 9.5 of the Plan shall, unless otherwise provided in the Retirement Board’s ((Employee Benefits Department’s in the case of a claim governed by
    Section 9.5(c)(i) of the Plan) delegation, be empowered with the same discretion and authority as granted to the Retirement Board (Employee Benefits Department in the case of a claim governed by Section 9.5(c)(i) of the Plan) under this Section 9.5 of
    the Plan.

   

  (b)               Non-Disability Claims

   

  (i)                 Initial Claims. The Retirement Board will decide a claim within 90 days of
    the date on which the claim is received by the Retirement Board, unless special circumstances require a longer period for adjudication and the claimant is notified in writing, prior to the expiration of the 90-day period, of the reasons for an
    extension of time and the expected decision date. If the Retirement Board fails to notify the claimant of its decision to grant or deny such claim within the time specified by this paragraph, the claimant may request the review of his or her claim
    pursuant to the claims review procedures set forth in Section 9.5(b)(ii) of the Plan. If a claim is denied, in whole or in part, the claimant must receive a written notice containing:

   

  (A)             the specific reason(s) for the adverse determination;

   

  (B)              a reference to the specific Plan provision(s) on which the adverse determination
    is based;

   

  (C)              a description of additional information necessary for the claimant to perfect his
    or her claim and an explanation of why such material is necessary; and

   

  (D)             an explanation of the procedure for review of the denied or partially denied claim
    set forth below, including the claimant’s right to bring a civil action under Section 502(a) of the Act following an adverse benefit determination on review.

   

  

  
  
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  (ii)              Review of Denied Claims. The claimant will have 60 days to
    request in writing a review of the denial of his or her claim by the Retirement Board (or, if the claimant has not received a response to the initial claim, within 150 days of the filing of the initial claim). The claimant or his duly authorized
    representative will have, upon request and free of charge, reasonable access to, and copies of all, documents, records, and other information relevant to the claimant’s claim for benefits. If the claimant files a request for review, his request must
    include a description of the issues and evidence he deems relevant. Failure to raise issues or present evidence on review will preclude those issues or evidence from being presented in any subsequent proceeding or judicial review of the claim. The
    review will take into account all available information, regardless of whether such information was submitted or considered in the initial benefit determination.

   

  The Retirement Board must render its decision on the review of the claim no more than 60 days after the Retirement Board’s receipt of the request for review,
    except that this period may be extended for an additional 60 days if the Retirement Board determines that special circumstances (including, but not limited to, a hearing) require such extension. If an extension of time is required, written notice of
    the expected decision date and the reasons for the extension will be furnished to the claimant before the end of the initial 60-day period. If a review of a claim is denied, in whole or in part, the claim must receive a written notice containing:

   

  (A)             the specific reason(s) for the adverse determination;

   

  (B)              a reference to specific Plan provision(s) on which the adverse determination is
    based;

   

  (C)              a statement that the claimant is entitled to receive, upon request and free of
    charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits; and

   

  (D)             a statement of the claimant’s right to bring a civil action under Section 502(a)
    of the Act.

   

  (c)               Disability Claims.

   

  (i)                 Initial Claims. The Employee Benefits Department will
    decide a claim within 45 days of the date on which the claim is received by the Employee Benefits Department. If the Employee Benefits Department determines that an extension is necessary for reasons beyond its control, the Employee Benefits Department
    may extend this period for an additional 30 days by notifying the claimant of the reasons for the extension and the date when the claimant can expect to receive a decision The Employee Benefits Department may also extend this period for a second 30-day
    period by again complying with the requirements applicable to the initial 30-day extension. If an extension is provided in order to allow the claimant time to provide additional information necessary to review the claim, the response deadlines
    applicable to the Employee Benefits Department will be tolled until the earlier of the date 45 days after the date of the request for additional information or the date the Employee Benefits Department receives the additional information. If the
    Employee Benefits Department fails to notify the claimant of its decision to grant or deny such claim within the time specified by this paragraph, the claimant may request the review of his or her claim pursuant to the claims review procedures set
    forth in Section 9.5(c)(ii) of the Plan. If a claim is denied, in whole or in part, the claimant must receive a written notice containing:

   

  (A)             the specific reason(s) for the adverse determination;

   

  (B)              a reference to the specific Plan provision(s) on which the adverse determination
    is based;

   

  (C)              a description of additional information necessary for the claimant to perfect his
    or her claim and an explanation of why such material is necessary;

   

  (D)             an explanation of the procedure for review of the denied or partially denied claim
    set forth below, including the claimant’s right to bring a civil action under Section 502(a) of the Act following an adverse benefit determination on review;

   

  

  
  
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  (E)              if applicable, any internal rule, guideline, protocol, or other similar criterion
    relied on in making the adverse benefit determination (or a statement that such information is available free of charge upon request); and

   

  (F)              if the adverse benefit determination is based on a scientific or clinical
    exclusion or limit, an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to the claimant’s circumstances (or a statement that such explanation is available free of charge upon request).

   

  (ii)              Review of Denied Claims. The claimant will have 180 days to request in writing
    a review of the denial of his or her claim by the Retirement Board. The claimant or his duly authorized representative will have, upon request and free of charge, reasonable access to, and copies of all, documents, records, and other information
    relevant to the claimant’s claim for benefits. If the claimant files a request for review, his request must include a description of the issues and evidence he deems relevant. Failure to raise issues or present evidence on review will preclude those
    issues or evidence from being presented in any subsequent proceeding or judicial review of the claim. The review will take into account all available information, regardless of whether such information was submitted or considered in the initial benefit
    determination and will not afford deference to the initial disability determination.

   

  In no event will the review be conducted by the person who made the initial determination or by a subordinate of such person. If the initial adverse benefit
    determination was based in whole or in part on a medical judgment, including determinations with regard to whether a particular treatment, drug, or other item is experimental, investigational, or not medically necessary or appropriate, the Retirement
    Board shall consult with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment and who neither was consulted nor is the subordinate of an individual who was consulted in
    connection with the adverse benefit determination that is the subject of the claimant’s request for review. In addition, the reviewer shall provide for the identification of medical or vocational experts whose advice was obtained on behalf of the plan
    in connection with a claimant’s adverse benefit determination, without regard to whether the advice was relied upon in making the benefit determination.

   

  The Retirement Board must render its decision on the review of the claim no more than 45 days after the Retirement Board’s receipt of the request for review,
    except that this period may be extended for an additional 45 days if the Retirement Board determines that special circumstances (including, but not limited to, a hearing) require such extension. If an extension of time is required, written notice of
    the expected decision date and the reasons for the extension will be furnished to the claimant before the end of the initial 45-day period. If an extension is provided in order to allow the claimant time to provide additional information necessary to
    review the claim, the response deadlines applicable to the Retirement Board will be tolled until the earlier of the date 45 days after the date of the request for additional information or the date the Retirement Board receives the additional
    information. If a review of a claim is denied, in whole or in part, the claim must receive a written notice containing:

   

  (A)             the specific reason(s) for the adverse determination;

   

  (B)              a reference to specific Plan provision(s) on which the adverse determination is
    based;

   

  (C)              a statement that the claimant is entitled to receive, upon request and free of
    charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits;

   

  (D)             a statement describing any voluntary appeal procedures offered by the Plan and the
    claimant’s right to obtain the information about such procedures and a statement of the claimant’s right to bring a civil action under Section 502(a) of the Act.

   

  (E)              if applicable, any internal rule, guideline, protocol, or other similar criterion
    relied upon in making the adverse benefit determination (or a statement that such information will be provided free of charge upon request); and

   

  (F)              if the adverse benefit determination is based on medical necessity or an
    experimental care exclusion or similar exclusion or limit, an explanation of the scientific or clinical judgment for the determination, applying the terms of the Plan to the claimant’s medical circumstances (or a statement that such explanation is
    available free of charge upon request).

   

  Article 10

  

    Amendment or Termination of the Plan

  10.                        

  10.1          The Committee shall have the power to suspend or terminate this Plan in whole or in part
    at any time, and from time to time to extend, modify, amend, revise, or terminate this Plan in such respects as the Committee by resolution may deem advisable; provided that no such extension, modification, amendment, revision, or termination shall
    deprive a Participant or any beneficiary designated by a Participant of the vested portion of any benefit under this Plan.

   

  

  
  
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  Article 11

  

    General Provisions

   

  11.1         This Plan shall not be deemed to constitute a contract between the
    Employer and any Employee or other person whether or not in the employ of the Employer, nor shall anything herein contained be deemed to give any Employee or other person whether or not in the employ of the Employer any right to be retained in the
    employ of the Employer, or to interfere with the right of the Employer to discharge any Employee at any time and to treat him without any regard to the effect which such treatment might have upon him as a Participant of the Plan.

   

  11.2          Except as may otherwise be required by law, no distribution or payment
    under the Plan to any Participant, beneficiary, or joint or contingent annuitant, shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, whether voluntary or involuntary, and any attempt
    to so anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same shall be void; nor shall any such distribution or payment be in any way liable for or subject to the debts, contracts, liabilities, engagements or torts of any
    person entitled to such distribution or payment. If any Participant, beneficiary, or joint or contingent annuitant is adjudicated bankrupt or purports to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge any such distribution or
    payment, voluntarily or involuntarily, the Committee, in its discretion, may cancel such distribution or payment or may hold or cause to be held or applied such distribution or payment or any part thereof to or for the benefit of such Participant,
    beneficiary, or joint or contingent annuitant in such manner as the Committee shall direct.

   

  11.3          If the Employer determines that any person entitled to payments under
    the Plan is an infant or incompetent by reason of physical or mental disability, it may cause all payments thereafter becoming due to such person to be made to any other person for his benefit, without responsibility to follow application of amounts so
    paid. Payments made pursuant to this provision shall completely discharge the Plan, the Employer and the Committee.

   

  11.4          The Employer shall be the sole source of benefits under this Plan, and
    each Employee, Participant, joint or contingent annuitant, beneficiary, or any other person who shall claim the right to any payment or benefit under this Plan shall be entitled to look only to the Employer for payment of benefits.

   

  11.5          If the Employer is unable to make payment to any Participant or other
    person to whom a payment is due under the Plan because it cannot ascertain the identity or whereabouts of such Participant or other person after reasonable efforts have been made to identify or locate such person (including a notice of the payment so
    due mailed to the last known address of such Participant or other person shown on the records of the Employer), such payment and all subsequent payments otherwise due to such Participant or other person shall be forfeited twenty-four (24) months after
    the date such payment first became due; provided, however, that such payment and any subsequent payments shall be reinstated retroactively, no later than sixty (60) days after the date on which the Participant or person is identified or located.

   

  

  
  
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  11.6          The Employer shall have the right to deduct from each
    payment made under the Plan any amount required to satisfy its obligation to withhold federal, state and local taxes, if any.

   

  11.7          The provisions of the Plan shall be construed,
    administered and governed under applicable Federal laws and the laws of the State of New York. 

   

  

  
  
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  ARTICLE 12

   

  CHANGE IN CONTROL

   

  12.1       Upon a Change in Control, notwithstanding any provisions in the Plan to the contrary, the following provisions of this Section 12.1 shall take effect.  For
    purposes of this Section 12.1 “Change in Control” shall mean the occurrence of any of the following events:

   

  (a) the individuals who constitute the Board of Directors of the Company (the “Board”) on the effective date of the Change in Control (or subsequent directors whose election or
    nomination was approved by a vote of at least two-thirds of such directors, including by approval of the proxy statement in which such person is named as a nominee for director) cease for any reason to constitute at least a majority of the Board
    (except no director will be treated as an incumbent director if such director was nominated or elected in an actual or threatened election contest or proxy solicitation (other than by the Board));

   

  (b) any “person” (as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as used in Sections 13(d)(3) and 14(d)(2) of the
    Exchange Act) is or becomes a beneficial owner, directly or indirectly, of fifty percent (50%) or more of the Company’s voting securities;

   

  (c) the consummation of a merger, consolidation, mandatory share exchange or similar form of corporate transaction involving the Company (a “Business Combination”) that results
    in any person becoming the beneficial owner, directly or indirectly, of fifty percent (50%) or more of the total voting power of the outstanding voting securities eligible to elect directors of the entity resulting from such Business Combination;

   

  (d) the consummation of a sale of all or substantially all of the Company’s assets (other than to an affiliate of the Company); or

   

  (e) the approval by the Company’s stockholders of a plan of complete liquidation or dissolution of the Company.

   

  Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because (A) any person holds or acquires beneficial ownership of more than fifty percent (50%) of
    the Company voting securities as a result of a “Company share repurchase program” or other acquisition of Company voting securities by the Company which reduces the total number of Company voting securities outstanding; provided that if after
    such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increase the percentage of outstanding Company voting securities beneficially owned by such person, a Change in Control shall then
    occur or (B) the consummation of a sale of all or substantially all (or a subset) of the assets and/or operations of the Life and Retirement business (or any similar transaction).

   

  

  
  
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  12.2       Vesting

   

  Upon the occurrence of a Change in Control, notwithstanding the first two sentences of Article 5 of the Plan, the Excess Retirement Income of all Participants shall
    become non-forfeitable, and the first sentence of the second paragraph of Article 5 shall not apply.

   

  12.3       Entitlement to Benefits

   

  (a) Upon the occurrence of a Change in Control, Section 3.1 of the Plan shall read as is set forth below:

   

  3.1 Early, Normal, Postponed and Disability Retirement. A Participant who has a Separation from Service shall be entitled to receive the Excess Retirement Income described in
    Article 4 of the Plan. If a Participant incurs a Disability, the Participant shall be entitled to receive the Excess Disability Retirement Income described in Section 4.5.

   

  (b) Upon the occurrence of a Change in Control, the first sentence of Section 3.2 shall not apply and shall be replaced with the following sentence:

   

  3.2 A Participant who has a Separation from Service prior to Normal Retirement Date (other than by death or by incurring a Disability) shall be entitled to an Early Excess
    Retirement Income in accordance with Section 4.3.

   

  12.4       Benefits

   

  Upon the occurrence of a Change in Control, Section 4.3(f) shall read as is set forth below:

   

  4.3(f) If the Participant is not eligible for Early Retirement under the Qualified Plan, the Frozen Accrued Benefit and the Grandfathered Accrued Benefit shall be the amounts
    that would be payable at Normal Retirement Date, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that retirement precedes age 65 and 3-1/3% for each of the next 5 years (and a fraction thereof for each
    full month) that retirement precedes age 60 and by an actuarial equivalent amount for retirement ages below age 55. With respect to retirement ages prior to age 55, the reduction will be based on an actuarial equivalent of the benefit payable at age
    55. Actuarial equivalence will be based on the rate of interest determined under Code section 417(e)(3) as modified in other applicable guidance (including without limitation Revenue Ruling 2007-67) for the third calendar month prior to the calendar
    year in which benefits are scheduled to commence and the mortality table under Code section 417(e) in effect on the date benefits are scheduled to commence.

   

  12.5       Death

   

  Upon the occurrence of a Change in Control, in Section 7.2, the following phrase that appears in the first, ultimate and penultimate sentences in that Section is
    eliminated:

   

  “or, if later, within 90 days after the Participant would have attained age 55”.

   

  

  
  
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  12.6       Grantor Trust

   

  Immediately prior to a Change of Control, the value of all benefits payable under the Plan and the administrative costs relating to the Plan shall be fully funded
    pursuant to an irrevocable grantor trust described in Internal Revenue Service Revenue Procedure 92-64 that has been or will be established for this purpose (the “Non-Qualified Plan Trust”). The assets of the Non-Qualified Plan Trust shall be held
    separate and apart from other funds of the Company and shall be used exclusively to enable the Company to meet its liabilities under the Plan and for the purposes set forth in the Plan and the applicable trust agreement, subject to the following
    conditions:

   

  		(a)	the creation of the Non-Qualified Plan Trust shall not cause the Plan to be other than “unfunded” for purposes of the Employee Retirement Security Act of 1974, as amended;
	 	 	 
		(b)	the Company shall be treated as the “grantor” of the Non-Qualified Plan Trust for purposes of Sections 671 and 677 of the Code;
	 	 	 
		(c)	the trust agreement of the Non-Qualified Plan Trust shall provide that the trust fund assets may be used to satisfy claims of the Company’s general creditors;
	 	 	 
		(d)	any assets held in the Non-Qualified Plan Trust shall be subject to the investment authority of the individuals or committee appointed by the Company as in effect prior to the Change in Control, or the successors appointed by such committee or
          individuals for such purpose, who may, at such group’s sole discretion, retain the trustee of the Non-Qualified Plan Trust, investment managers, or other experts to assist with or to delegate the execution of the group’s investment
          responsibilities. Such assets shall generally be invested in capital preservation and/or liability hedging investments, as appropriate. All income received by the Non-Qualified Plan Trust, net of expenses and taxes, shall be accumulated and
          reinvested in the Non-Qualified Plan Trust;
	 	 	 
	 	(e)	Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Non-Qualified Plan Trust; and
	 	 	 
	 	(f)	for purposes of determining the value of benefits payable under the Plan, the following assumptions will be used:  

   

  	 	(i)	a discount rate based on the methodology used by the Plan actuary for GAAP purposes as of the last day of the month prior to the effective date of the Change in Control;
	 	 
	 	(ii)	Code Section 417(e) interest rates in effect as of the most recent available date prior to the effective date of the Change in Control for the purpose of determining non-cash balance-related lump
          sums;
	 	 
	 	(iii)	cash balances as of the effective date of the Change in Control;

   

  
  
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  	 	(iv)	a retirement age equal to age 62, or current age if older;
	 	 
	 	(v)	post-retirement mortality only based on the assumption used for the Plan for GAAP purposes as of the end of the fiscal year prior to the effective date of the Change in Control;
	 	 
		(vi)	no pre-retirement turnover; and
	 	 
	 	(vii)	to the extent necessary, the most recently published 30-year Treasury rate in effect prior to the effective date of the Change in Control.

   

  Following a Change in Control, any amounts due to Participants under the Plan shall first be satisfied by the Non-Qualified Plan Trust, and the remaining obligations, if any, shall be
    satisfied by the Company, in accordance with the terms of the Plan.

  

   

  
  
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  Schedule A

   

  

  

  
  
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  Appendix A

   

  Restoration of Retirement Income Plan

  For Certain Employees Participating

  in the

  Restated American General Retirement Plan

   

  December 31, 1998 Restatement

   

  (Incorporation November, 1991 Plan and Amendments thereof)

   

  

  
  
    A-1

  

  
     

    
      
        

    

  

  
   

  RESTORATION OF RETIREMENT INCOME PLAN

    

   

  FOR CERTAIN EMPLOYEES PARTICIPATING IN THE

    

   

  RESTATED AMERICAN GENERAL RETIREMENT PLAN

   

  The RESTORATION OF RETIREMENT INCOME PLAN FOR CERTAIN EMPLOYEES PARTICIPATING IN THE RESTATED AMERICAN GENERAL RETIREMENT PLAN (hereinafter referred to as the
    “Restoration Plan”) is hereby restated effective as of December 31, 1998 by AMERICAN GENERAL CORPORATION and its subsidiaries (hereinafter referred to as the “Employer,” jointly and severally). The Restoration Plan has been established to provide for
    the payment of certain pension and pension-related benefits to certain employees who are participants in the AMERICAN GENERAL RETIREMENT PLAN (hereinafter referred to as the “Basic Plan”). The Employer intends and desires to recognize the value to the
    Employer of the past and present services of employees covered by the Restoration Plan and to encourage and assure their continued service to the Employer by making more adequate provision for their future retirement security. All terms used in this
    Restoration Plan shall have the meanings assigned to them under the provisions of the Basic Plan unless otherwise qualified by the context.

   

  		1.	Incorporation of the Basic Plan

   

  The Basic Plan, with any amendments thereto, shall be attached hereto as Exhibit I and is hereby incorporated by reference into and shall form a part of this
    Restoration Plan as fully as if set forth herein verbatim. Any amendment made to the Basic Plan by the Employer shall also be incorporated by reference into and form a part of this Restoration Plan, effective as of the effective date of such amendment.
    The Basic Plan, whenever referred to in this Restoration Plan, shall mean the Basic Plan, as amended, as it exists as of the date any determination is made of benefits payable under this Restoration Plan.

   

  		2.	Administration

   

  This Restoration Plan shall be administered by the administrative committee (hereinafter referred to as the “Committee”) under the Basic Plan which shall administer it
    in a manner consistent with the administration of the Basic Plan, as from time to time amended and in effect, except that this Restoration Plan shall be administered as an unfunded plan that is not intended to meet the qualification requirements of
    section 401 of the Internal Revenue Code of 1986, as amended (the “Code”). The Committee shall have full power and authority to interpret, construe and administer this Restoration Plan. No member of the Committee shall be liable to any person for any
    action taken or omitted in connection with the interpretation and administration of this Restoration Plan unless attributable to his own willful misconduct or lack of good faith. Members of the Committee shall not participate in any action or
    determination regarding their own benefits hereunder.

   

  

  
  
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  		3.	Eligibility

   

  Employees, excluding Career Agents, who are Highly Compensated Participants who are participating in the Basic Plan, and either (1) whose pension or pension-related
    benefits under the Basic Plan are limited pursuant to section 401(a)(17) or section 415 of the Code or (2) who are eligible to participate in the American General Corporation Deferred Compensation Plan, shall be eligible for benefits under this
    Restoration Plan. In no event shall an employee who is not eligible for benefits under the Basic Plan be eligible for a benefit under this Restoration Plan.

   

  		4.	Amount of Benefit

   

  The benefit payable to an eligible employee or his beneficiary under this Restoration Plan shall be the Actuarial Equivalent of the excess, if any, of (a) over (b):

   

  (a)       the benefit that would have been payable to such employee or on his behalf under the Basic Plan if such benefit were determined without regard to the maximum
    amount of benefit limitations of section 415 of the Code, without regard to the considered compensation limitations of section 401(a)(17) of the Code, as if the definition of Compensation under the Basic Plan as in effect on March 21, 1985 were
    applicable for the period January 1, 1985 through March 20, 1985 and as if the definition of Compensation included executive deferred compensation;

   

  (b)       the benefit which is in fact payable to such employee or on his behalf under the Basic Plan, as in effect from time to time.

   

  		5.	Payment of Benefits

   

  The benefit payable under this Restoration Plan on account of an eligible employee’s death shall be paid to the same beneficiary or beneficiaries and in the same form
    and at the same time or times as the limited benefits are payable to the employee’s beneficiary under the Basic Plan. The benefit payable under this Restoration Plan for any reason other than on account of an eligible employee’s death shall be payable
    in the form of a benefit for the life of the employee, beginning at his age sixty-five or, if later, his termination of employment with the Employer. Notwithstanding the foregoing, however, the Committee may, in its sole discretion, direct that the
    benefit payable under this Restoration Plan shall be paid in the same form as, and coincident with, the payment of the limited benefit payments made to the eligible employee or on his behalf to his beneficiary or beneficiaries under the Basic Plan.
    Further, notwithstanding any of the foregoing provisions of this Section 5, if an eligible employee becomes entitled to a lump sum payment under Section 2.6 (or a successor section) of the American General Corporation Supplemental Executive Retirement
    Plan, the employee shall receive the benefit payable under this Restoration Plan in the form of a lump sum amount, in cash, equal to the actuarial equivalent of such benefit. Such lump sum amount shall be paid within the five (5) business days
    immediately following termination of the employee’s employment.

   

  		6.	Employee’s Rights

   

  Except as otherwise specifically provided, an employee’s rights under this Restoration Plan, including his rights to vested benefits, shall be the same as his rights
    under the Basic Plan. Benefits payable under this Restoration Plan shall be a general, unsecured obligation of the Employer to be paid by the Employer from its own funds, and such payments shall not (i) impose any obligation upon the Trust Fund under
    said Basic Plan; (ii) be paid from the Trust Fund under said Basic Plan; or (iii) have any effect whatsoever upon the Basic Plan or the payment of benefits from the Trust Fund under said Basic Plan. No employee or his beneficiary or beneficiaries shall
    have any title to or beneficial ownership in any assets which the Employer may earmark to pay benefits hereunder.

   

  

  
  
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  		7.	Amendment and Discontinuance

   

  This Restoration Plan may be amended from time to time, or terminated and discontinued at any time, in each case at the discretion of the Board of Directors of
    American General Corporation. Notwithstanding the foregoing, no amendment shall be made, nor shall this Restoration Plan be terminated in a manner which would reduce the benefits or rights to benefits of any employee accrued under the Restoration Plan
    (determined on the basis of each employee’s presumed termination of employment as of the date of such amendment or termination) prior to the later of the adoption or the effective date of such amendment or termination.

   

  		8.	Restrictions on Assignment

   

  The interest of an employee or his beneficiary or beneficiaries may not be sold, transferred, assigned, or encumbered in any manner, either voluntarily or
    involuntarily, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same shall be null and void; neither shall the benefits hereunder be liable for or subject to the debts, contracts, liabilities,
    engagements, or torts of any person to whom such benefits or funds are payable, nor shall they be subject to garnishments, attachment, or other legal or equitable process nor shall they be an asset in bankruptcy.

   

  		9.	Nature of Agreement

   

  This Restoration Plan is intended to constitute an unfunded “excess benefit plan” within the meaning of sections 3(36) and 4(b)(5) of the Employee Retirement Income
    Security Act of 1974, as amended, with respect to a part of the Restoration Plan and an unfunded “deferred compensation plan” for a select group of management or highly-compensated employees within the meaning of sections 201(2), 301(a)(3) and
    401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended, with respect to the remainder of the Restoration Plan. The adoption of this Restoration Plan and any setting aside of amounts by the Employer with which to discharge its
    obligations hereunder shall not be deemed to create a trust; legal and equitable title to any funds so set aside shall remain in the Employer, and any recipient of benefits hereunder shall have no security or other interest in such funds. Any and all
    funds so set aside shall remain subject to the claims of the general creditors of the Employer, present and future. This provision shall not require the Employer to set aside any funds, but the Employer may set aside such funds if it chooses to do so.
    Notwithstanding the provisions of Sections 6 and 11 hereof and the foregoing provisions of this Section 9, American General Corporation may, in its discretion, establish a trust to pay amounts becoming payable pursuant to this Restoration Plan, which
    trust shall be subject to the claims of the general creditors of American General Corporation in the event of its bankruptcy or insolvency. Notwithstanding any establishment of such a trust, the Employer shall remain responsible for the payment of any
    amounts so payable which are not so paid by such trust.

   

  

  
  
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  		10.	Continued Employment

   

  Nothing contained herein shall be construed as conferring upon any employee the right to continue in the employ of the Employer in any capacity.

   

  		11.	Binding on Employer, Employees and Their Successors

   

  This Restoration Plan shall be binding upon and inure to the benefit of the Employer, its successors and assigns and the employee and his heirs, executors,
    administrators and legal representatives. The provisions of this Restoration Plan shall be applicable with respect to each Employer separately, and amounts payable hereunder shall be paid by the Employer of the particular employee.

   

  		12.	Employment with More Than One Employer

   

  If any employee shall be entitled to benefits under the Basic Plan on account of service with more than one Employer, the obligations under this Restoration Plan shall
    be apportioned among such Employers on the basis of time of service with each, except that an Employer from whose employ such employee was transferred prior to his retirement, death or disability shall be obligated with respect to employment prior to
    such transfer only to the extent of an amount based on assumed pay increases in accordance with the scale used for computing the actuarial cost under the Basic Plan for the year of the transfer. If obligations are so limited, the remaining obligations
    shall be borne by the last Employer.

   

  		13.	Laws Governing

   

  This Restoration Plan shall be construed in accordance with and governed by the laws of the State of Texas.

   

  EXECUTED as of the 31st day of December, 1998.

   

  	 	AMERICAN GENERAL CORPORATION
	 	 
	 	By:	 
	 	 	Mark S. Berg
	 	 	Executive Vice President and General Counsel

  

   

  

  
  
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  Appendix B

   

  THE HARTFORD STEAM BOILER

  Excess Retirement Benefit Plan

   

  As Amended and Restated October 23, 1989

  

   

  

  
  
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  TABLE OF CONTENTS

    

  	ARTICLE I PURPOSE	B-3
	ARTICLE II ELIGIBILITY	B-3
	ARTICLE III AMOUNT AND PAYMENT OF BENEFIT	B-3
	ARTICLE IV UNFUNDED OBLIGATIONS, TRUST AGREEMENT	B-4
	ARTICLE V TERMINATION AND MODIFICATION	B-4
	ARTICLE VI EFFECTIVE DATE	B-4
	ARTICLE VII CHANGE IN CONTROL	B-4
	ARTICLE VIII ASSIGNMENT AND ALIENATION	B-5

   

  

  
  
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  ARTICLE I

  

   

  PURPOSE

   

  The purpose of the Plan is to provide benefits that would have been provided under The Hartford Steam Boiler Inspection and Insurance Company Retirement Plan
    (hereinafter the “Retirement Plan”) but for the provisions of Section 415 of the Internal Revenue Code as referenced in Article IX of the Retirement Plan.

   

  ARTICLE II

  

   

  ELIGIBILITY

   

  Eligibility to participate in this Plan shall be determined in accordance with the participation requirements contained in the Retirement Plan.

   

  ARTICLE III

  

   

  AMOUNT AND PAYMENT OF BENEFIT

   

  The provisions of Articles I, II, III and VI of the Retirement Plan and any future amendments thereto are incorporated herein by reference and apply to the benefit
    provided herein insofar as they are not in conflict with the specific provisions contained under this Plan.

   

  If a participant, except a Vested Terminated Participant (as defined under Section 1.36 of the Retirement Plan), has a spouse at the time benefit payments hereunder
    are scheduled to commence, benefits shall be paid to him in accordance with the Employee/Spouse Income Option described under Section 4.02(a) of the Retirement Plan.

   

  If a Vested Terminated Participant has a spouse at the time benefit payments are scheduled to commence, benefits shall be paid to him in accordance with the Qualified
    Joint and Survivor Annuity described under Section 4.02(b) of the Retirement Plan.

   

  If a participant, including a Vested Terminated Participant, does not have a spouse at the time benefit payments are scheduled to commence, benefits shall be paid to
    him in accordance with the Employee Only Income Option described under Section 4.03 of the Retirement Plan.

   

  This Plan will provide a retirement benefit in an amount equal to the amount by which the retirement income, calculated in accordance with Article III of the
    Retirement Plan without regard to Article IX of the Retirement Plan, is reduced after applying the limitations of Article IX.

   

  For a participant, other than a Vested Terminated Participant or a Disabled Participant, benefits shall commence on the first day of the month following participant’s
    actual retirement date. For a Vested Terminated Participant or a Disabled Participant benefits shall commence on the first day of the month following such participant’s Normal Retirement Date (as defined in the Plan).

   

  
  
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  ARTICLE IV

   

  UNFUNDED OBLIGATIONS, TRUST AGREEMENT

   

  The Company will pay from its general assets all payments to be made hereunder. However, the Company may in its discretion establish a trust, escrow agreement or
    similar arrangement in order to aid the Company in meeting its obligations hereunder.

   

  Any assets transferred by the Company into any such arrangement shall remain at all times assets of the Company and subject to the claims of the Company’s general
    creditors in the event of bankruptcy or insolvency of the Company. No security interest in such assets shall be created in a participant’s favor and a participant’s rights under this Plan and under any such arrangement shall be those of a general
    unsecured creditor of the Company.

   

  ARTICLE V

   

  TERMINATION AND MODIFICATION

   

  The Board of Directors of the Company may at any time terminate or from time to time modify or suspend, and if suspended, may reinstate any or all of the provisions of
    this Plan except that no modification or termination of this Plan may reduce any benefit that has accrued under this Plan as of the date of modification or termination.

   

  ARTICLE VI

   

  EFFECTIVE DATE

  The effective date of this Plan shall be January 1, 1984.

   

  ARTICLE VII

   

  CHANGE IN CONTROL

   

  In the event of a Change in Control of the Company this Plan shall continue to be binding upon the Company, any successor in interest to the Company and all persons in
    control of the Company or any successor thereto and no transaction or series of transactions shall have the effect of reducing or eliminating the benefits payable to a participant that have not been distributed unless consented to in writing by such
    affected participant. A “Change in Control” as referred to under this Section shall be deemed to have occurred if:

   

  		(a)	any “person” (as defined in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or
          becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing twenty-five percent (25%) or more of the combined voting power of the Company’s then outstanding
          securities;

   

  

  
  
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  		(b)	during any period within two (2) consecutive years there shall cease to be a majority of the Board of Directors comprised as follows: individuals who at the beginning of such period constitute the Board of Directors and any new director(s)
          whose election by the Board of Directors or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period
          or whose election or nomination for election was previously so approved; or

   

  		(c)	the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior
          thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than eighty percent (80%) of the combined voting power of the voting securities of the Company (or such
          surviving entity) outstanding immediately after such merger or consolidation or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no “person” (as hereinabove defined) acquires
          more than 25% of the combined voting power of the Company’s then outstanding securities; or

   

  		(d)	the shareholders of the Company approve (i) a plan of complete liquidation of the Company or (ii) the sale or other disposition of all or substantially all the Company assets.

   

  ARTICLE VIII

   

  ASSIGNMENT AND ALIENATION

   

  Benefits under this Plan may not be anticipated, assigned (either at law or in equity), alienated, or subjected to attachment, garnishment, levy, execution or other
    legal or equitable process. If any participant or beneficiary under this Plan becomes bankrupt or attempts to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge any benefit under this Plan, such benefit shall, in the discretion of
    the Committee, cease and terminate, in which event the Committee may hold or apply the same or any part thereof for the benefit of such participant, his beneficiary, his spouse, children, other dependents or any of such individuals, in such manner and
    in such proportion as the Committee may deem proper.

   

  

  
  
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  Appendix C

   

  20TH CENTURY INDUSTRIES

  Supplemental Pension Plan

  (RESTATEMENT NO. 1)

   

  

  
  
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  TABLE OF CONTENTS

   

  	ARTICLE I PURPOSE	C-3
	ARTICLE II DEFINITIONS	C-3
	2.1   "Committee"	C-3
	2.2   "Company"	C-3
	2.3   "Compensation"	C-3
	2.4   "Early Retirement Date"	C-4
	2.5   "Effective Date"	C-4
	2.6   "Eligible Employee"	C-4
	2.7   "Normal Retirement Date"	C-4
	2.8   "Participant"	C-4
	2.9   "Plan"	C-4
	2.10   "Plan Administrator"	C-4
	2.11   "Plan Year"	C-4
	2.12   "Qualified Pension Plan"	C-4
	2.13   "Separation from Service"	C-4
	ARTICLE III ELIGIBILITY AND PARTICIPATION	C-5
	3.1   Eligibility to Participate	C-5
	3.2   Certain Enrollment Procedures	C-5
	ARTICLE IV CALCULATION OF BENEFITS	C-5
	4.1   Benefits under this Plan	C-5
	4.2   Benefit Formula	C-5
	4.3   Offset of Benefit under the 20th Century Industries Supplemental Executive Retirement Plan	C-6
	4.4   Benefit Commencement at Early Retirement Date	C-6
	ARTICLE V VESTING OF BENEFITS	C-6
	ARTICLE VI PAYMENT OF BENEFITS	C-6
	6.1   Date of Payment	C-6
	6.2   Form of Payment	C-7
	ARTICLE VII DEATH AND DISABILITY BENEFITS	C-7
	7.1   Death Benefit	C-7
	7.2   Disability Benefit	C-8
	ARTICLE VIII RIGHT TO TERMINATE OR MODIFY PLAN	C-8
	ARTICLE IX NO ASSIGNMENT, ETC.	C-8
	ARTICLE X THE COMMITTEE	C-9
	ARTICLE XI RELEASE	C-9
	ARTICLE XII NO CONTRACT OF EMPLOYMENT	C-10
	ARTICLE XIII COMPANY'S OBLIGATION TO PAY BENEFITS	C-10
	ARTICLE XIV CLAIM REVIEW PROCEDURE	C-10
	ARTICLE XV ARBITRATION	C-11
	ARTICLE XVI MISCELLANEOUS	C-12
	16.1   Successor and Assigns	C-12
	16.2   Notices	C-12
	16.3   Limitations on Liability	C-12
	16.4   Certain Small Benefits	C-12
	16.5   Governing Law	C-12

   

  

  
  
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  ARTICLE I

   

  PURPOSE

   

  The purpose of the 20th Century Industries Supplemental Pension Plan (the “Plan”) is to attract and retain valuable executive employees by making available certain benefits that otherwise
    would be unavailable under the Company's Qualified Pension Plan.

   

  This Plan is designed to qualify as an unfunded plan of deferred compensation for a select group of management or highly compensated employees described in 29 CFR § 2520.104-23 and
    Sections 201(a), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Further, this Plan is a plan described in 4 U.S.C. Section 114 and Section 3121(v)(2)(C) of the Internal Revenue Code (“Code”),
    established to pay retirement income after termination of employment, and maintained solely for the purpose of providing retirement benefits for employees in excess of the limitations imposed by one or more of Sections 401(a)(17), 401(k), 401(m),
    402(g), 403(b), 408(k), or 415 of such Code or any other limitation on contributions or benefits in such Code on plans to which any of such Sections apply.

   

  This instrument amends and restates the provisions of this Plan, this amendment and restatement to be effective as of January 1, 1996.

   

  ARTICLE II

   

  DEFINITIONS

   

  The following terms shall have the meanings set forth below in this Article II, when capitalized:

   

  		2.1	"Committee"

   

  means the committee appointed to administer the Plan in accordance with Article X.

   

  		2.2	"Company"

   

  means 20th Century Industries, and shall include any corporation that is affiliated with 20th Century Industries, and which, by designation by the Chief
    Executive Officer of 20th Century Industries, is included within the meaning of the term "Company," with the result that otherwise eligible executives of such entity may participate herein.

   

  		2.3	"Compensation"

   

  means compensation as defined in the Qualified Pension Plan determined, however, without regard to the limitations of Section 401(a)(17) and prior to any
    reduction for compensation deferrals under the 20th Century Industries 401(k) Supplemental Plan, the 20th Century Industries Savings and Security Plan and any salary reduction pursuant to Code Section 125 or 129.

   

  

  
  
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  		2.4	"Early Retirement Date"

   

  means Early Retirement Date as defined in the Qualified Pension Plan.

   

  		2.5	"Effective Date"

   

  means January 1, 1996.

   

  		2.6	"Eligible Employee"

   

  means an employee of the Company who on or after the Effective Date has Compensation for a Plan Year in excess of the applicable limit under Section 401(a)(17)
    of the Internal Revenue Code, except as provided in Section 3.2.

   

  		2.7	"Normal Retirement Date"

   

  means Normal Retirement Date as defined in the Qualified Pension Plan.

   

  		2.8	"Participant"

   

  means each Eligible Employee who has commenced to participate in this Plan in accordance with Article III.

   

  		2.9	"Plan"

   

  means the 20th Century Industries Supplemental Pension Plan, as set forth herein.

   

  		2.10	"Plan Administrator"

   

  means 20th Century Industries. For purposes of Section 3(16)(A) of ERISA, 20th Century Industries shall be the "plan administrator" and shall be responsible
    for compliance with any applicable reporting and disclosure requirements imposed by ERISA.

   

  		2.11	"Plan Year"

   

  means the fiscal period commencing each January 1 and ending the following December 31.

   

  		2.12	"Qualified Pension Plan"

   

  means the 20th Century Industries Pension Plan, as in effect from time to time.

   

  		2.13	"Separation from Service"

   

  means any separation from service of the Company for any reason. In the case of a Participant on disability, Separation from Service shall be deemed to occur
    when long term disability coverage commences, unless otherwise determined by the Committee.

   

  

  
  
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  ARTICLE III

   

  ELIGIBILITY AND PARTICIPATION

   

  		3.1	Eligibility to Participate

   

  Subject to the provisions of Section 3.2 below, each Eligible Employee shall become a Participant as of the later of the Effective Date or the date on which
    the person becomes an Eligible Employee.

   

  		3.2	Certain Enrollment Procedures

   

  As a condition of participation or continued participation in this Plan the Committee may require an Eligible Employee to deliver to the Committee such
    properly completed enrollment forms and agreements as the Committee may require. Such forms or agreements may permit an Eligible employee to designate a form of payment applicable to all benefits payable hereunder. Such designation shall be
    irrevocable, unless the Committee, in its sole discretion, permits an Eligible Employee to change his or her election of payment method to a method providing payments over a longer period of time than originally elected by the Eligible Employee and
    which will not reasonably result in any increase in the amount otherwise payable in any taxable year of the Participant during which payment would have been made under the method of payment previously elected. No payment option shall be selected by a
    Participant which is not among a list of payment options generally made available to all Participants by the Committee at the time of such selection. No assurance regarding the tax effects of making such change is provided to a participant who elects
    to change a form of payment.

   

  Commencement or recommencement of active participation or status as an Eligible Employee following any Separation from Service or other interruption of
    employment shall be on such terms and under such conditions as the Committee may, in its discretion, provide.

   

  ARTICLE IV

   

  CALCULATION OF BENEFITS

   

  		4.1	Benefits under this Plan

   

  A Participant's benefits under this Plan shall be calculated as provided in this Article IV, provided, however, that a Participant's eligibility to receive a
    benefit hereunder shall be subject to succeeding provisions of this Plan.

   

  		4.2	Benefit Formula

   

  A Participant's benefit payable under this Plan, expressed in the form of an annual benefit payable commencing at the Participant's Normal Retirement Age and
    payable for the lifetime of the Participant, shall be equal to (a) minus (b) below where:

   

  		(a)	equals the benefit payable on the Participant's Normal Retirement Date determined in accordance with the terms of the Qualified Pension Plan (except that for purposes of this Subsection 4.2(a), the Participant's Compensation shall be determined
          under this Plan), and

   

  		(b)	equals the benefit payable on the Participant's Normal Retirement Date determined in accordance with the terms of the Qualified Pension Plan.

   

  

  
  
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  		4.3	Offset of Benefit under the 20th Century Industries Supplemental Executive Retirement Plan

   

  If a Participant under this Plan is entitled to receive benefits under the 20th Century Industries Supplemental Executive Retirement Plan (the "SERP"), such
    Participant's benefit under this Plan shall be offset, but not below zero (0) by an amount equal to the actuarial equivalent of the SERP benefit.

   

  		4.4	Benefit Commencement at Early Retirement Date

   

  If a Participant's benefit under this Plan commences to be paid on a Participant's Early Retirement Date, the benefit calculated as provided in Section 4.2
    shall be reduced to reflect the longer anticipated period of time that such benefit is to be paid, and such reduction shall be determined in the same manner as a reduction is computed under the Qualified Pension Plan in the case of a Participant who
    retires under such Qualified Pension Plan at an Early Retirement Date.

   

  ARTICLE V

   

  VESTING OF BENEFITS

   

  A Participant's interest in his benefit under this Plan shall become vested and nonforfeitable in accordance with the provisions of the Qualified Pension Plan (including provisions of the
    Qualified Pension Plan relating to vesting upon termination, partial termination or other vesting event under such plan). Notwithstanding the preceding provisions of this Article V, in the event of a Participant's Separation of Service following a
    “Change in Control” as such term is defined from time to time in the 20th Century Industries Supplemental Executive Retirement Plan, a Participant's interest in his or her benefits under the Plan shall become fully vested and nonforfeitable.

   

  ARTICLE VI

   

  PAYMENT OF BENEFITS

   

  		6.1	Date of Payment

   

  Except as otherwise provided in Article VII and subject to the provisions of Article V, a Participant's benefit hereunder, payable on account of a Separation
    from Service, shall commence to be paid as soon as practicable following the later of (a) the date of such Separation from Service or (b) the earlier of (i) the date on which the Participant attains (or would have attained if the Participant then were
    in active employment) Early Retirement Date, or (ii) the Participant's Normal Retirement Date.

   

  

  
  
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  		6.2	Form of Payment

   

  		(a)	Single Life Annuity. The normal form of payment under the Plan for a Participant who is not married on the date of commencement of his or her benefits hereunder shall be a single life annuity providing monthly payments for the life of
          the Participant, and under which all benefit payments cease as of the date of death of the Participant.

   

  		(b)	Joint and Survivor Annuity. The normal form of benefit payable to a Participant who is lawfully married to a spouse on the date of commencement of his or her benefits hereunder shall be an actuarially equivalent fifty percent (50%) joint
          and survivor annuity, providing reduced monthly payments during such Participant's life, and providing continued monthly payments after the Participant's death to the spouse to whom the participant is married on the date of his or her
          commencement of benefits hereunder. Each such continued monthly payments payable to the surviving spouse shall be fifty percent (50%) of the monthly payment amount payable during the Participant's lifetime. The reduction in the Participant's
          monthly benefits shall be determined by application of the same reduction factors as are applied for purposes of determining such reduction under the Qualified Pension Plan. Continuing payments to a surviving spouse shall continue during the life
          of the surviving spouse and shall cease on the date of death of such surviving spouse.

   

  		(c)	Whenever, under this Plan it becomes necessary to determine the actuarial equivalence of one or more forms of benefits, such determination shall be made by application of such actuarial factors and rates as would then be applied for such
          purpose under the Qualified Pension Plan.

   

  ARTICLE VII

   

  DEATH AND DISABILITY BENEFITS

   

  		7.1	Death Benefit

   

  In the event of the death of a Participant prior to commencement of benefit payments hereunder, a death benefit shall be payable to the spouse to whom such
    Participant is lawfully married on the date of the Participant's death. Such benefit shall consist of monthly payments, each of which is equal to the monthly amount that would have been paid to such spouse (a) had the Participant's Separation from
    Service occurred on the later of (i) the Participant's date of death, or (ii) the earlier of the Participant's Early Retirement Date or Normal Retirement Date, (b) had the Participant's benefit commenced to be paid as the joint and survivor annuity
    described in Section 6.2, and (c) had the Participant's death occurred immediately after such commencement of benefits. Such death benefit shall begin to be paid as soon as practicable after the latest of (a) the Participant's date of death, (b) the
    earlier of the Participant's Early Retirement Date or Normal Retirement Date, and (c) the date on which such benefit applications, releases, and other documents as the Committee may require to be given are received by the Committee in form and manner
    satisfactory to the Committee. Death benefit payments shall cease as of the date of death of the spouse receiving such payments. No benefit shall be payable to any person other than a spouse described in the first sentence of this Section 7.1. This
    Plan shall not be required to give effect to disclaimers, whether made under state or federal law. This Section 7.1 shall not apply in the case of the death of a Participant after payments have commenced to be made with respect to such Participant.

   

  

  
  
    C-7 

  

  
     

    
      
        

    

  

  
   

  		7.2	Disability Benefit

   

  If a Participant incurs a Total and Permanent Disability, as such term is defined from time to time under Qualified Pension Plan, prior to commencement of
    benefits hereunder and such Participant at the date of the occurrence of such Total and Permanent Disability is an Eligible Employee, such Participant shall continue to accrue benefits under this Plan in the same manner as provided in the Qualified
    Plan during the continuation of such Total and Permanent Disability, but not beyond the date determined under the Qualified Pension Plan. Such Participant shall be entitled to receive his/her benefit under this Plan upon attaining his/her Normal
    Retirement Date.

   

  ARTICLE VIII

   

  RIGHT TO TERMINATE OR MODIFY PLAN

   

  By action of its Board of Directors, 20th Century Industries may modify or terminate this Plan without further liability to any Eligible Employee or former employee or any other person.
    Notwithstanding the preceding provisions of this Article VIII, except as expressly required by law, this Plan may not be modified or terminated as to any Participant in a manner that adversely affects the payment of benefits theretofore accrued by such
    Participant to the extent such benefits have become vested, except that in the event of the termination of the Plan as to all Participants, this Plan may in the sole discretion of the Board of Directors be modified to accelerate payment of benefits to
    Participants.

   

  ARTICLE IX

   

  NO ASSIGNMENT, ETC.

   

  Benefits under this Plan may not be assigned or alienated and shall not be subject to the claims of any creditor. A Participant shall not be permitted to borrow under the Plan, nor shall
    a Participant be permitted to pledge or otherwise use his benefits hereunder as security for any loan or other obligation. No payments shall be made to any person or persons other than expressly provided herein, or on any date or dates other than as
    expressly provided herein.

   

  It is each Participant's sole responsibility to obtain such consents, and to take such other actions as may be necessary or appropriate in connection with participation in this Plan,
    including but not limited to obtaining spousal or other consents, as may be necessary or appropriate to reflect marital property, support, or other obligations arising under contract, order or by operation of law.

   

  

  
  
    C-8 

  

  
     

    
      
        

    

  

  
   

  ARTICLE X

   

  THE COMMITTEE

   

  		(a)	The appointment, removal and resignation of members of the Committee shall be governed by the Board of Directors of 20th Century Industries. Subject to change by the said Board, the membership of the Committee shall be the same as the
          membership of the Committee of the Qualified Pension Plan.

   

  		(b)	The Committee shall have authority to oversee the management and administration of the Plan, and in connection therewith is authorized in its sole discretion to make, amend and rescind such rules as it deems necessary for the proper
          administration of the Plan, to make all other determinations necessary or advisable for the administration of the Plan and to correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent
          that the Committee deems desirable to carry the Plan into effect. The powers and duties of the Committee shall include without limitation, the following:

   

  		(i)	Resolving all questions relating to the eligibility of select management and highly compensated employees to become Participants; and

   

  		(ii)	Resolving all questions regarding payment of benefits under the Plan and other questions regarding plan participation.

   

  Any action taken or determination made by the Committee shall be conclusive on all parties. The exercise of or failure to exercise any discretion reserved to
    the Committee to grant or deny any benefit to a Participant or other person under the Plan shall in no way require the Committee or any person acting on behalf thereof, to similarly exercise or fail to exercise such discretion with respect to any other
    Participant.

   

  ARTICLE XI

   

  RELEASE

   

  As a condition to making any payment under the Plan, or to giving effect to any election or other action under the Plan by any Participant or any other person, the Plan Administrator may
    require such consents or releases as it determines to be appropriate, and further may require any such designation, election or other action to be in writing, in a prescribed form and to be filed with the Committee in a manner prescribed by the
    Committee. In the event the Committee determines, in its discretion, that multiple conflicting claims may be made as to all or a part of a benefit accrued hereunder by a Participant, the Committee may delay the making of any payment until such conflict
    or multiplicity of claims is resolved.

   

  

  
  
    C-9 

  

  
     

    
      
        

    

  

  
   

  ARTICLE XII

   

  NO CONTRACT OF EMPLOYMENT

   

  This Plan shall not be deemed to give any employee the right to be retained in the employ of the Company or to interfere with the right of the Company to discharge or retire any employee
    at any time, nor shall this Plan interfere with the right of the Company to establish the terms and conditions of employment of any employee.

   

  ARTICLE XIII

   

  COMPANY'S OBLIGATION TO PAY BENEFITS

   

  Nothing contained in this Plan and no action taken pursuant to the provisions of this Plan shall create or be construed to create a trust of any kind, or a fiduciary relationship between
    the Company, and any Employee, an Employee's spouse or former spouse or any other person. Funds to provide benefits under the provisions of this Plan shall continue for all purposes to be a part of the general funds of the Company. To the extent that
    any person acquires a right to receive payments from the Company under this Plan such right shall be no greater than the right of any unsecured general creditor of the Company. Notwithstanding the preceding provisions of this Article XIII, assets may
    be transferred by the Company to a trust constituting a "rabbi trust," for the purpose of providing benefits described herein.

   

  ARTICLE XIV

   

  CLAIM REVIEW PROCEDURE

   

  		(a)	A person who believes that he or she has not received all payments to which he or she is entitled under the terms of this Plan may submit a claim therefor. Within ninety (90) days following receipt of a claim for benefits under this Plan, and
          all necessary documents and information, the Committee or its authorized delegate reviewing the claim shall, if the claim is not approved, furnish the claimant with written notice of the decision rendered with respect to the application.

   

  		(b)	The written notice contemplated in (a) above shall set forth:

   

  		(i)	the specific reasons for the denial, with reference to the Plan provisions upon which the denial is based;

   

  		(ii)	a description of any additional information or material necessary for perfection of the application (together with an explanation why the material or information is necessary); and

   

  		(iii)	an explanation of the Plan's claim review procedure.

   

  

  
  
    C-10 

  

  
     

    
      
        

    

  

  
   

  		(c)	A claimant who wishes to contest the denial of his claim for benefits or to contest the amount of benefits payable to him shall follow the procedures for an appeal of benefits as set forth below, and shall exhaust such administrative procedures
          prior to seeking any other form of relief.

   

  		(d)	A claimant who does not agree with the decision rendered as provided above in this Article XIV with respect to his application may appeal the decision to the Committee. The appeal shall be made, in writing, within sixty (60) days after the date
          of notice of such decision with respect to the application. If the application has neither been approved nor denied within the ninety-day (90) period provided in (a) above, then the appeal shall be made within sixty (60) days after the expiration
          of the ninety-day (90) period.

   

  		(e)	The claimant may request that his application be given full and fair review by the Committee. The claimant may review all pertinent documents and submit issues and comments in writing in connection with the appeal. The decision of the Committee
          shall be made promptly, and not later than sixty (60) days after the Committee's receipt of a request for review, unless special circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as
          possible, but not later than one hundred twenty (120) days after receipt of a request for review. The decision by the Committee on review shall be in writing and shall include specific reasons for the decision, written in a manner calculated to
          be understood by the claimant with specific reference to the pertinent Plan provisions upon which the decision is based.

   

  ARTICLE XV

   

  ARBITRATION

   

  A claimant may contest the Committee's denial of his or her appeal only by submitting the matter to arbitration. In such event, the claimant and the Committee shall select an arbitrator
    from a list of names supplied by the American Arbitration Association in accordance with such Association's procedures for selection of arbitrators, and the arbitration shall be conducted in accordance with the rules of such Association. The
    arbitrator's authority shall be limited to the affirmance or reversal of the Committee's denial of the appeal, and the arbitrator shall have no power to alter, add to or subtract from any provision of this Plan. Except as otherwise required by the
    Employee Retirement Income Security Act of 1974, the arbitrator's decision shall be final and binding on all parties, if warranted on the record and reasonably based on applicable law and the provisions of this Plan.

   

  

  
  
    C-11 

  

  
     

    
      
        

    

  

  
   

  ARTICLE XVI

   

  MISCELLANEOUS

   

  		16.1	Successor and Assigns

   

  The Plan shall be binding upon and shall inure to the benefit of the Company, its successors and assigns, and all Participants.

   

  		16.2	Notices

   

  Any notice or other communication required or permitted under the Plan shall be in writing, and if directed to the Company shall be sent to the Committee or
    its authorized delegate, and if directed to a Participant shall be sent to such Participant at his last known address as it appears on the records of the Company.

   

  		16.3	Limitations on Liability

   

  		(a)	The Company does not warrant any tax benefit nor any financial benefit under the Plan. Without limitation to the foregoing, the Company and its officers, employees and agents shall be held harmless by the Participant or Beneficiary from, and
          shall not be subject to any liability on account of, the federal or state or local income tax consequences, or any other consequences of any deferrals or credits with respect to Participants under the Plan.

   

  		(b)	The Company, its officers, employees, and agents shall be held harmless by the Participant from, and shall not be subject to any liability hereunder for, all acts performed in good faith.

   

  		16.4	Certain Small Benefits

   

  Notwithstanding any other provision of this Plan to the contrary, in the case of a Participant whose annual benefit hereunder is not in excess of $2,000, the
    Committee may, in its sole discretion, distribute an amount equal to the actuarial equivalent value of future anticipated benefits, determined in accordance with such actuarial factors and interest rate assumptions utilized from time to time under the
    Qualified Pension Plan for purposes of making lump sum payments thereunder.

   

  		16.5	Governing Law

   

  This Plan is subject to the laws of the State of California, to the extent not preempted by ERISA.

   

  

  
  
    C-12 

  

  
     

    
      
        

    

  

  
   

  IN WITNESS WHEREOF, 20th Century Industries has caused this instrument to be executed by its duly authorized officers, effective as of the Effective Date set
    forth hereinabove.

   

  	 	20TH CENTURY INDUSTRIES
	 	 
	 	By:	 
	 	 
	 	By:	 

   

  

  
  
    C-13 

  

  
     

    
      
        

    

  

  
   

  Appendix D

   

  Treatment of Employees Transferring with the Sale of United Guaranty Corporation

   

  With respect to each Participant who is an Active Employee of United Guaranty Corporation and its Subsidiaries (collectively, “UGC”) as of December 31, 2016 (the “Closing Date”), the date
    that the sale described in the Stock Purchase Agreement dated August 15, 2016 between the Company and Arch Capital Group, Ltd. (“Arch”) (the “Purchase Agreement”) closes (a “Departing UGC Participant”), the terms and conditions set forth in this
    Appendix D shall apply solely with respect to Departing UGC Participants, effective as of December 31, 2016:

   

  		1.	Appendix D Definitions

   

  a.        Solely for purposes of this Appendix D, an “Active Employee” means
    each person who as of the Closing Date (a) is an actively employed Employee performing services for UGC and (b) each person who is an Employee of UGC as of the Closing Date who is absent from employment due to illness, vacation, injury, military
    service or other authorized absence (including each Employee who is “disabled” under the short-term disability program currently in place for UGC, who is on approved leave under the Family and Medical Leave Act or who is on leave due to a workplace
    injury covered by a workers’ compensation policy or program incurred within the six (6) months prior to the Closing Date) other than Employees on long-term disability or other unpaid medical leave and Employees who are on leave due to a workplace
    injury covered by a workers’ compensation policy or program incurred more than six (6) months prior to the Closing Date.

   

  b.       Solely for purposes of this Appendix D, “Subsidiaries” means those
    subsidiaries of United Guaranty Corporation that are sold to Arch pursuant to the Purchase Agreement.

   

  		2.	Definition of Disability

   

  For purposes of Section 1.10, the definition of the term “Disability,” for a Departing UGC Participant the word “Company” shall include both UGC and Arch.

   

  

  
  
    D-1 

  

  
     

    
      
        

    

  

  
   

  		3.	Definition of Separation from Service

   

  With respect to Departing UGC Participants, the definition of “Separation from Service” in Section 1.33 of the Plan means the Departing UGC Participant has terminated employment
    (other than by death or Disability) with Arch and its subsidiaries (including UGC).

   

  		4.	Vesting

   

  Notwithstanding the first two sentences of Article 5 of the Plan, effective as of December 31, 2016, the Excess Retirement Income of a Departing UGC Participant shall become
    non-forfeitable, and the first sentence of the second paragraph of Article 5 shall not apply to a Departing UGC Participant.

   

  		5.	Entitlement to Benefits

   

  For a Departing UGC Participant, Section 3.1 of the Plan shall read as is set forth below:

   

  3.1    Early, Normal, Postponed and Disability Retirement. A Departing UGC Participant in the Plan who has a Separation from Service on or after December 31, 2016 shall be
    entitled to the Excess Retirement Income described in Article 4 of the Plan. If a Departing UGC Participant incurs a Disability, the Departing UGC Participant shall be entitled to receive the Excess Disability Retirement Income described in Section
    4.5.

   

  For a Departing UGC Participant, the first sentence of Section 3.2 shall not apply and shall be replaced with the following sentence:

   

  3.2    A Departing UGC Participant who has a Separation from Service prior to Normal Retirement Date (other than by death or by incurring a Disability) shall be entitled to an
    Early Excess Retirement Income in accordance with Section 4.3.

   

  

  
  
    D-2 

  

  
     

    
      
        

    

  

  
   

  		6.	Benefit

   

  For a Departing UGC Participant, Section 4.3(f) shall read as is set forth below:

   

  4.3(f)  If the Departing UGC Participant is not eligible for Early Retirement under the Qualified Plan, the Frozen Accrued Benefit and the Grandfathered Accrued Benefit shall be
    the amounts that would be payable at Normal Retirement Date, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that retirement precedes age 65 and 3-1/3% for each of the next 5 years (and a fraction
    thereof for each full month) that retirement precedes age 60 and by an actuarial equivalent amount for retirement ages below age 55. With respect to retirement ages prior to age 55, the reduction will be based on an actuarial equivalent of the benefit
    payable at age 55. Actuarial equivalence will be based on the rate of interest determined under Code section 417(e)(3) as modified in other applicable guidance (including without limitation Revenue Ruling 2007-67) for the third calendar month prior to
    the calendar year in which benefits are scheduled to commence and the mortality table under Code section 417(e) in effect on the date benefits are scheduled to commence.

   

  		7.	Death.

   

  In Section 7.2, the following phrase that appears in both the ultimate and penultimate sentences in that Section is eliminated with respect to Departing UGC Participants:

   

  “or , if later, within 90 days after the Participant would have attained age 55”

   

  

  
  
    D-3 

  

  
     

    
      
        

    

  

  
   

  Appendix E

   

  Treatment of Employees Transferring with the Sale of Fortitude Group Holdings, LLC

   

  With respect to each Participant who is an Active Employee of Fortitude Group Holdings, Inc. and its Subsidiaries (collectively, “Fortitude”) as of June 2, 2020 (the “Closing Date”), the
    date that the sale described in the Stock Purchase Agreement dated November 25, 2019 between the Company and Carlyle FRL, L.P. and T&D Capital Co., Ltd. (the “Fortitude Buyers”) (the “Purchase Agreement”) closes (a “Departing Fortitude
    Participant”), the terms and conditions set forth in this Appendix E shall apply solely with respect to Departing Fortitude Participants, effective as of June 2, 2020:

   

  		1.	Appendix E Definitions

   

  a.    Solely for purposes of this Appendix E, an “Active Employee” means each person who as of the Closing Date (a) is an actively employed Employee performing services for
    Fortitude and (b) each person who is an Employee of Fortitude as of the Closing Date who is absent from employment due to illness, vacation, injury, military service or other authorized absence (including each Employee who is “disabled” under the
    short-term disability program currently in place for Fortitude, who is on approved leave under the Family and Medical Leave Act or who is on leave due to a workplace injury covered by a workers’ compensation policy or program incurred within the six
    (6) months prior to the Closing Date) other than Employees on long-term disability or other unpaid medical leave and Employees who are on leave due to a workplace injury covered by a workers’ compensation policy or program incurred more than six (6)
    months prior to the Closing Date.

   

  b.    Solely for purposes of this Appendix E, “Subsidiaries” means those subsidiaries of Fortitude Group Holdings, Inc. that are sold to the Fortitude Buyers pursuant to the
    Purchase Agreement.

    

  		2.	Definition of Disability

   

  For purposes of Section 1.10, the definition of the term “Disability,” for a Departing Fortitude Participant the word “Company” shall include both Fortitude and the Fortitude
    Buyers.

   

  

  
  
    E-1 

  

  
     

    
      
        

    

  

  
   

  		3.	Definition of Separation from Service

   

  With respect to Departing Fortitude Participants, the definition of “Separation from Service” in Section 1.33 of the Plan means the Departing Fortitude Participant has
    terminated employment (other than by death or Disability) with the Fortitude Buyers and its Subsidiaries (including Fortitude).

   

  		4.	Vesting

   

  Notwithstanding the first two sentences of Article 5 of the Plan, effective as of June 2, 2020, the Excess Retirement Income of a Departing Fortitude Participant shall become
    non-forfeitable, and the first sentence of the second paragraph of Article 5 shall not apply to a Departing Fortitude Participant.

   

  		5.	Entitlement to Benefits

   

  For a Departing Fortitude Participant, Section 3.1 of the Plan shall read as is set forth below:

   

  3.1    Early, Normal, Postponed and Disability Retirement. A Departing Fortitude Participant in the Plan who has a Separation from Service on or after June 2, 2020 shall be
    entitled to the Excess Retirement Income described in Article 4 of the Plan. If a Departing Fortitude Participant incurs a Disability, the Departing Fortitude Participant shall be entitled to receive the Excess Disability Retirement Income described in
    Section 4.5.

   

  For a Departing Fortitude Participant, the first sentence of Section 3.2 shall not apply and shall be replaced with the following sentence:

   

  3.2    A Departing Fortitude Participant who has a Separation from Service prior to Normal Retirement Date (other than by death or by incurring a Disability) shall be entitled to
    an Early Excess Retirement Income in accordance with Section 4.3.

   

  

  
  
    E-2 

  

  
     

    
      
        

    

  

  
   

  		6.	Benefit

   

  For a Departing Fortitude Participant, Section 4.3(f) shall read as is set forth below:

   

  4.3(f)   If the Departing Fortitude Participant is not eligible for Early Retirement under the Qualified Plan, the Frozen Accrued Benefit and the Grandfathered Accrued Benefit
    shall be the amounts that would be payable at Normal Retirement Date, but reduced by 6-2/3% for each of the first 5 years (and a fraction thereof for each full month) that retirement precedes age 65 and 3-1/3% for each of the next 5 years (and a
    fraction thereof for each full month) that retirement precedes age 60 and by an actuarial equivalent amount for retirement ages below age 55. With respect to retirement ages prior to age 55, the reduction will be based on an actuarial equivalent of the
    benefit payable at age 55. Actuarial equivalence will be based on the rate of interest determined under Code section 417(e)(3) as modified in other applicable guidance (including without limitation Revenue Ruling 2007-67) for the third calendar month
    prior to the calendar year in which benefits are scheduled to commence and the mortality table under Code section 417(e) in effect on the date benefits are scheduled to commence.

   

  		7.	Death.

   

  In Section 7.2, the following phrase that appears in both the ultimate and penultimate sentences in that Section is eliminated with respect to Departing Fortitude Participants:

   

  “or , if later, within 90 days after the Participant would have attained age 55”

   

  

  
  E-3Exhibit 10.34

    

   

  

     

      

    
     

     

    Appendix B  American International Group, Inc. 2021 Omnibus Incentive Plan

     

    Appendix B 

    
       

    

    AMERICAN INTERNATIONAL GROUP, INC.

     

    2021 OMNIBUS INCENTIVE PLAN

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    	2021 Proxy Statement		B-1

    
       

    

    
      

         

    

    Appendix B 
        American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    AMERICAN INTERNATIONAL GROUP, INC.

        2021 OMNIBUS INCENTIVE PLAN

     

    ARTICLE I

        GENERAL

     

    	1.1	Purpose	B-3
	1.2	Definitions	B-3
	1.3	Administration	B-5
	1.4	Persons Eligible for Awards	B-6
	1.5	Types of Awards	B-6
	1.6	Shares of Common Stock Available for
                Stock-Based Awards	B-6

     

    ARTICLE II

        AWARDS UNDER THE PLAN

     

    	2.1	Agreements Evidencing Awards	B-7
	2.2	No Rights as a Shareholder	B-7
	2.3	Options	B-8
	2.4	Stock Appreciation Rights	B-9
	2.5	Restricted Shares	B-9
	2.6	Restricted Stock Units	B-10
	2.7	Other Stock-Based Awards	B-10
	2.8	Cash-Based Awards	B-10
	2.9	Dividend Equivalent Rights	B-10
	2.10	Related Option Transactions	B-10
	2.11	Change in Control Provisions	B-10
	2.12	Minimum Vesting	B-11

     

    ARTICLE III

        MISCELLANEOUS

     

    	3.1	Amendment of the Plan	B-11
	3.2	Tax Withholding	B-11
	3.3	Required Consents and Legends	B-12
	3.4	Clawback	B-12
	3.5	Right of Offset	B-12
	3.6	Nonassignability; No Hedging	B-12
	3.7	Successor Entity	B-12
	3.8	Right of Discharge Reserved	B-13
	3.9	Nature of Payments	B-13
	3.10	Non-Uniform Determinations	B-13
	3.11	Other Payments or Awards	B-13
	3.12	Plan Headings	B-13
	3.13	Termination of Plan	B-13
	3.14	Section 409A	B-13
	3.15	Governing Law	B-14
	3.16	Severability; Entire Agreement	B-14
	3.17	Waiver of Claims	B-14
	3.18	No Liability With Respect to Tax
                Qualification or Adverse Tax Treatment	B-15
	3.19	No Third Party Beneficiaries	B-15
	3.20	Successors and Assigns of AIG	B-15
	3.21	Date of Adoption and Approval of
                Shareholders	B-15

     

    	B-2	 	2021 Proxy Statement

    
       

    

    
      

         

    

    Appendix B  American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    AMERICAN INTERNATIONAL GROUP, INC.

        2021 OMNIBUS INCENTIVE PLAN

     

    ARTICLE I

     

    GENERAL

     

    1.1 Purpose. The purpose of the American International Group, Inc. 2021 Omnibus
        Incentive Plan is (1) to attract, retain and motivate officers, directors and key employees of the Company (as defined below), compensate them for their contributions to the Company and encourage them to acquire a proprietary interest in the
        Company, (2) to align the interests of officers, directors and key employees with those of shareholders of the Company and (3) to assist the Company in ensuring that its compensation program does not provide incentives to take imprudent risks.

     

    This 2021 Omnibus Incentive Plan replaces the American International Group, Inc. 2013 Omnibus Incentive Plan (as
        amended to the Effective Date, the “2013 Plan”) for Awards granted on or after the Effective Date. Awards may not be granted under the 2013 Plan beginning on the Effective Date, but this 2021 Omnibus Incentive Plan will not affect the terms
        or conditions of any stock appreciation right, restricted stock, restricted stock unit or other award made under the 2013 Plan before the Effective Date.

     

    1.2 Definitions. For purposes of this 2021 Omnibus Incentive Plan, the following
        terms have the meanings set forth below:

     

    “2013 Plan” has the meaning set forth in Section 1.1.

     

    “Acquisition Awards” has the meaning set forth in Section 1.6.2.

     

    “AIG” means American International Group, Inc. or a successor entity contemplated by Section 3.7.

     

    “Award” means an award made pursuant to the Plan.

     

    “Award Agreement” means the written or electronic document that evidences each Award and sets forth its
        terms and conditions. As determined by the Committee, an Award Agreement may be required to be executed or acknowledged by a Grantee as a condition to receiving an Award or the benefits under an Award.

     

    “Board” means the Board of Directors of AIG.

     

    “Business Combination” means a merger, consolidation, mandatory share exchange or similar form of
        corporate transaction involving AIG.

     

    “Certificate” means a stock certificate (or other appropriate document or evidence of ownership)
        representing shares of Common Stock.

     

    “Change in Control” means the occurrence of any of the following events: (a) the Incumbent Directors
        cease for any reason to constitute at least a majority of the Board, provided that any person becoming a Director subsequent to the Effective Date, whose election or nomination for election was approved by a vote of at least two-thirds of
        the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent
        Director; provided, however, that no individual initially elected or nominated as a Director as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened
        solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; (b) any “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3)
        and 14(d)(2) of the Exchange Act), is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% or more of the Company Voting Securities; provided, however, that the event
        described in this clause (b) shall not be deemed to be a Change in Control by virtue of an acquisition of Company Voting Securities: (i) by AIG or any subsidiary of AIG; (ii) by any employee benefit plan (or related trust) sponsored or maintained
        by AIG or any subsidiary of AIG; or (iii) by any underwriter temporarily holding securities pursuant to an offering of such

     

     

    	2021 Proxy Statement		B-3

    
       

    

    
      

      

    

    Appendix B 
        American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    securities; (c) the consummation of a Business Combination that results in any person becoming the beneficial
        owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible to elect directors of the entity resulting from such Business Combination; (d) the consummation of a sale of all or substantially
        all of the Company’s assets (other than to an affiliate of the Company); or (e) the approval by AIG’s shareholders of a plan of complete liquidation or dissolution of the Company.

     

    Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because (A) any person
        holds or acquires beneficial ownership of more than 50% of the Company Voting Securities as a result of a “Company share repurchase program” or other acquisition of Company Voting Securities by the Company which reduces the total number of Company
        Voting Securities outstanding; provided that if after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities
        beneficially owned by such person, a Change in Control shall then occur or (B) the consummation of a sale of all or substantially all (or a subset) of the assets and/or operations of the Life and Retirement business (or any similar transaction).

     

    “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto,
        and the applicable rulings and regulations thereunder.

     

    “Committee” means the committee appointed by the Board to administer the Plan pursuant to Section 1.3,
        and, to the extent the Board determines it is appropriate for Awards under the Plan to qualify for the exemption available under Rule 16b-3(d)(1) or Rule 16b-3(e) promulgated under the Exchange Act, shall be a committee or subcommittee of the Board
        composed of two or more members, each of whom is a “non-employee director” within the meaning of Rule 16b-3. Unless otherwise determined by the Board, the Committee shall be the Compensation and Management Resources Committee of the Board.

     

    “Common Stock” means the common stock of AIG, par value $2.50 per share, and any other securities or
        property issued in exchange therefor or in lieu thereof pursuant to Section 1.6.4.

     

    “Company” means AIG and its consolidated subsidiaries.

     

    “Company Voting Securities” means, as of a given date, AIG’s then outstanding securities eligible to vote
        for the election of the Board.

     

    “Consent” has the meaning set forth in Section 3.3.2.

     

    “Covered Person” has the meaning set forth in Section 1.3.3.

     

    “Director” means a member of the Board or a member of the board of directors of a consolidated subsidiary
        of AIG.

     

    “Effective Date” has the meaning set forth in Section 3.21.

     

    “Employee” means an employee of the Company.

     

    “Employment” means a Grantee’s performance of services for the Company, as an Employee, as determined by
        the Committee. The terms “employ” and “employed” will have correlative meanings.

     

    “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor
        thereto, and the applicable rules and regulations thereunder.

     

    “Fair Market Value” means, with respect to a share of Common Stock (or option or stock appreciation right
        in respect of a share of Common Stock) on any day, the fair market value as determined in accordance with a valuation methodology approved by the Committee.

     

    “Grantee” means a person who receives an Award.

     

    “Incentive Stock Option” means an option to purchase shares of Common Stock that is intended to be
        designated as an “incentive stock option” within the meaning of Sections 421 and 422 of the Code, as now

     

     

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    constituted or subsequently amended, or pursuant to a successor of the Code, and which is designated as an
        Incentive Stock Option in the applicable Award Agreement.

     

    “Incumbent Directors” means the individuals who constitute the Board on the Effective Date.

     

    “Officer” means an Employee who is an “officer” of AIG within the meaning of Rule 16a-1(f) under the
        Exchange Act.

     

    “Plan” means this American International Group, Inc. 2021 Omnibus Incentive Plan, as amended from time to
        time.

     

    “Plan Action” has the meaning set forth in Section 3.3.1.

     

    “Section 409A” means Section 409A of the Code, including any amendments or successor provisions to that
        section, and any regulations and other administrative guidance relating thereto, in each case as they may be from time to time amended or interpreted through further administrative guidance.

     

    “Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor
        thereto, and the applicable rules and regulations thereunder.

     

    “Successor entity” has the meaning set forth in Section 3.7.

     

    1.3 Administration.

     

    1.3.1 The Committee will administer the Plan. The Committee is authorized, subject to the provisions of the
        Plan, to establish such rules and regulations as it deems necessary for the proper administration of the Plan and to make such determinations and interpretations and to take such action in connection with the Plan and any Award granted thereunder
        as it deems necessary or advisable. All determinations and interpretations made by the Committee will be final, binding and conclusive on all Grantees and on their legal representatives and beneficiaries. The Committee will have the authority, in
        its absolute discretion, to determine the persons who will receive Awards, the time when Awards will be granted, the terms of such Awards and the number of shares of Common Stock, if any, which will be subject to such Awards. Unless otherwise
        provided in an Award Agreement, the Committee reserves the authority, in its absolute discretion, (a) to amend any outstanding Award Agreement in any respect, whether or not the rights of the Grantee of such Award are adversely affected (but
        subject to Sections 2.3.6, 2.4.5, and 3.14.1), including, without limitation, to accelerate the time or times at which the Award becomes vested, unrestricted or may be exercised, to waive or amend any restrictions or conditions set forth in such
        Award Agreement, or to impose new restrictions and conditions, or to reflect a change in the Grantee’s circumstances or to modify, amend or adjust the terms and conditions of performance goals, and (b) to determine whether, to what extent and under
        what circumstances and method or methods (i) Awards may be (A) settled in cash, shares of Common Stock, other securities, other Awards or other property, (B) exercised or (C) canceled, forfeited or suspended, (ii) shares of Common Stock, other
        securities, other Awards or other property, and other amounts payable with respect to an Award may be deferred either automatically or at the election of the Grantee thereof or of the Committee and (iii) Awards may be settled by the Company or any
        of its designees. Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to time, grant Awards or administer the Plan, in which case the Board will have all of the authority and
        responsibility granted to the Committee herein.

     

    1.3.2 Actions of the Committee may be taken by the vote of a majority of its members. To the extent not
        inconsistent with applicable law and applicable rules and regulations of the New York Stock Exchange, (a) the Committee may delegate any of its powers under the Plan to a subcommittee of the Committee or to one of its members, (b) the Committee may
        allocate among its members any of its administrative responsibilities and (c) notwithstanding anything to the contrary contained herein, the Committee may delegate to one or more officers of AIG designated by the Committee from time to time the
        determination of Awards (and related administrative responsibilities) to Employees who are not Officers.

     

    1.3.3 No Director or Employee exercising each such person’s responsibilities under the Plan (each such person, a
        “Covered Person”) will have any liability to any person (including any Grantee) for any action taken or

     

     

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    omitted to be taken or any determination made in good faith with respect to the Plan or any Award. Each Covered
        Person will be indemnified and held harmless by AIG against and from any loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or incurred by such Covered Person in connection with or resulting from any action, suit
        or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and against and from any and all amounts paid by
        such Covered Person, with AIG’s approval, in settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person, provided that AIG will have the right, at
        its own expense, to assume and defend any such action, suit or proceeding and, once AIG gives notice of its intent to assume the defense, AIG will have sole control over such defense with counsel of AIG’s choice. To the extent any taxable expense
        reimbursement under this paragraph is subject to Section 409A, (a) the amount thereof eligible in one taxable year shall not affect the amount eligible in any other taxable year; (b) in no event shall any expenses be reimbursed after the last day
        of the taxable year following the taxable year in which the Covered Person incurred such expenses; and (c) in no event shall any right to reimbursement be subject to liquidation or exchange for another benefit. The foregoing right of
        indemnification will not be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication, in either case, not subject to further appeal, determines that the acts or omissions of
        such Covered Person giving rise to the indemnification claim resulted from such Covered Person’s bad faith, fraud or willful misconduct. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which
        Covered Persons may be entitled under AIG’s Amended and Restated Certificate of Incorporation or By-laws, as a matter of law, or otherwise, or any other power that AIG may have to indemnify such persons or hold them harmless.

     

    1.4 Persons Eligible for Awards. Awards under the Plan may be made to current
        Employees or Directors or, solely with respect to their final year of service, former Employees.

     

    1.5 Types of Awards. Awards under the Plan may be cash-based or stock-based.
        Stock-based Awards may be in the form of any of the following, in each case in respect of Common Stock: (a) stock options, (b) stock appreciation rights, (c) restricted shares (including performance restricted shares), (d) restricted stock units
        (including performance restricted stock units), (e) dividend equivalent rights and (f) other equity-based or equity-related Awards (including, without limitation, the grant or offer for sale of unrestricted shares of Common Stock) that the
        Committee determines to be consistent with the purposes of the Plan and the interests of the Company. Cash-based Awards may be in the form of performance-based awards and other cash awards (including, without limitation, retainers and meeting-based
        fees) that the Committee determines to be consistent with the purposes of the Plan and the interests of the Company.

     

    1.6 Shares of Common Stock Available for Stock-Based Awards.

     

    1.6.1 Common Stock Subject to the Plan. Subject to the other provisions of this Section 1.6, the total
        number of shares of Common Stock that may be granted under the Plan is eight million, one hundred thousand (8,100,000) plus the number of authorized shares of Common Stock remaining available under the 2013 Plan as of the Effective Date and any
        additional shares that become available for issuance under the 2013 Plan in accordance with Section 1.6.2. Such shares of Common Stock may, in the discretion of the Committee, be either authorized but unissued shares or shares previously issued and
        reacquired by AIG. Solely for the purpose of determining the number of shares of Common Stock available for grant of Incentive Stock Options under the Plan, the total number of shares of Common Stock shall be eight million, one hundred thousand
        (8,100,000) without regard to the share counting provisions contained in Section 1.6.2.

     

    1.6.2 Share Counting. Each share underlying a stock option, stock appreciation right, restricted share,
        restricted stock unit and other equity-based Award or equity-related Award will count as one share of Common Stock. Shares of Common Stock subject to awards that are assumed, converted or substituted under the Plan as a result of the Company’s
        acquisition of another company (including by way of merger, combination or similar transaction) (“Acquisition Awards”) will not count against the number of shares that may be granted under the Plan. Available shares under a shareholder
        approved plan of an acquired company (as appropriately adjusted to reflect the transaction) may be used for Awards under the Plan and do not reduce the maximum number of shares available for grant under the Plan, subject to applicable stock
        exchange requirements.

     

     

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    Shares subject to an Award that is forfeited, expires or is settled for cash (in whole or in part), to the
        extent of such forfeiture, expiration or cash settlement shall be available for future grants of Awards under the Plan and shall be added back in the same number of shares as were deducted in respect of the grant of such Award. In addition, the
        number of shares of Common Stock underlying awards granted and outstanding under the 2013 Plan that are forfeited, expire, terminate or otherwise lapse or are settled for cash on or after the Effective Date, in whole or in part, without the
        delivery of Common Stock will be added to the number of shares available for grant under the Plan. The payment of dividend equivalent rights in cash in conjunction with any outstanding Awards shall not be counted against the shares available for
        issuance under the Plan.

     

    In no event shall the following shares of Common Stock become available for issuance in connection with Awards
        issued under the Plan: (i) shares of Common Stock tendered or withheld as payment of the exercise price of an option; (b) shares of Common Stock tendered or withheld as payment of withholding taxes with respect to an Award; (c) any shares of Common
        Stock reserved for issuance under a stock appreciation right that exceed the number of shares actually issued upon exercise; and (d) shares of Common Stock reacquired by the Company using amounts received upon the exercise of an option.

     

    1.6.3 Director Awards. In order to retain and compensate Directors for their services, and to strengthen
        the alignment of their interests with those of the shareholders of the Company, the Plan permits the grant of cash-based and stock-based awards to Directors. Aggregate Awards to any one non-employee Director in respect of any calendar year, solely
        with respect to his or her service as a Director, may not exceed $900,000 based on aggregate value of cash Awards and Fair Market Value of stock-based Awards, in each case determined as of the date of grant.

     

    1.6.4 Adjustments. The Committee shall adjust the number of shares of Common Stock authorized pursuant
        to Section 1.6.1 (and any limits on the number of stock-based Awards that may be granted to any Grantee under this Plan) and adjust equitably the terms of any outstanding Awards (including, without limitation, the number of shares of Common Stock
        covered by each outstanding Award, the type of property to which the Award is subject and the exercise or strike price of any Award), in each case in such manner as it deems appropriate (including, without limitation, unless otherwise provided in
        an Award Agreement, by payment of cash) to preserve and prevent the enlargement of the benefits or potential benefits intended to be made available to Grantees, for any increase or decrease in the number of issued shares of Common Stock resulting
        from a recapitalization, spin-off, split-off, stock split, stock dividend, extraordinary cash dividend, combination or exchange of shares of Common Stock, merger, consolidation, rights offering, separation, reorganization or liquidation, or any
        other change in the corporate structure or shares of AIG; provided that no such adjustment shall be made if or to the extent that it would cause any outstanding Award to fail to comply with Section 409A. After any adjustment made pursuant
        to this Section 1.6.4, the number of shares of Common Stock subject to each outstanding Award will be rounded down to the nearest whole number. Notwithstanding the foregoing, the Committee may, in its sole discretion, decline to adjust the terms of
        any outstanding Award if it determines that such adjustment would violate applicable law or result in adverse tax consequences to the Grantee or to the Company.

     

    ARTICLE II

     

    AWARDS UNDER THE PLAN

     

    2.1 Agreements Evidencing Awards. Each stock-based Award and, to the extent
        determined appropriate by the Committee, cash-based Award granted under the Plan will be evidenced by an Award Agreement that will contain such provisions and conditions as the Committee deems appropriate. Unless otherwise provided herein, the
        Committee may grant Awards in tandem with or, subject to Sections 2.3.6, 2.4.5 and 3.14.1, in substitution for or satisfaction of any other Award or Awards granted under the Plan or any award granted under any other plan of AIG. By accepting an
        Award pursuant to the Plan, a Grantee thereby agrees that the Award will be subject to all of the terms and provisions of the Plan and the applicable Award Agreement.

     

    2.2 No Rights as a Shareholder. No Grantee (or other person potentially having rights
        pursuant to an Award) shall have any of the rights of a shareholder of AIG with respect to shares of Common Stock subject to an Award until the delivery of such shares (or in the case of an Award of restricted or unrestricted shares of

     

     

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    Common Stock, the grant or registration in the name of the Grantee of such shares pursuant to the applicable
        Award Agreement, but then only as the Committee may include in the applicable Award Agreement). Except as otherwise provided in Section 1.6.4 or pursuant to the applicable Award Agreement, no adjustments will be made for dividends, distributions or
        other rights (whether ordinary or extraordinary, and whether in cash, Common Stock, other securities or other property) for which the record date is before the date the Certificates for the shares are delivered.

     

    2.3 Options.

     

    2.3.1 Grant. Stock options may be granted to eligible recipients in such number and at such times during
        the term of the Plan as the Committee or the Board may determine, subject to the limits on grants set forth in Section 2.3.7.

     

    2.3.2 Incentive Stock Options. At the time of grant, the Committee will determine (a) whether all or any
        part of a stock option granted to an eligible employee will be an Incentive Stock Option and (b) the number of shares subject to such Incentive Stock Option; provided, however, that (i) the aggregate fair market value (determined as
        of the time the option is granted) of the stock with respect to which Incentive Stock Options are exercisable for the first time by an eligible employee during any calendar year (under all such plans of AIG and of any subsidiary corporation of AIG)
        will not exceed $100,000 and (ii) no Incentive Stock Option (other than an Incentive Stock Option that may be assumed or issued by the Company in connection with a transaction to which Section 424(a) of the Code applies) may be granted to a person
        who is not eligible to receive an Incentive Stock Option under the Code. The form of any stock option which is entirely or in part an Incentive Stock Option will clearly indicate that such stock option is an Incentive Stock Option or, if
        applicable, the number of shares subject to the Incentive Stock Option.

     

    2.3.3 Exercise Price. The exercise price per share with respect to each stock option will be determined
        by the Committee, but, except as otherwise permitted by Section 1.6.4 or in the case of an Acquisition Award, may never be less than the Fair Market Value of the Common Stock. Unless otherwise noted in the Award Agreement, the Fair Market Value of
        the Common Stock will be its closing price on the New York Stock Exchange on the date of grant of the Award of stock options.

     

    2.3.4 Term of Stock Option. In no event will any stock option be exercisable after the expiration of ten
        (10) years from the date on which the stock option is granted.

     

    2.3.5 Exercise of Stock Option and Payment for Shares. Subject to Section 2.12, the shares of Common
        Stock covered by each stock option may not be purchased for one year after the date on which the stock option is granted (except in the case of termination of Employment due to death, disability or retirement), but thereafter may be purchased in
        such installments as will be determined in the Award Agreement at the time the stock option is granted. Subject to any limitations in the applicable Award Agreement, any shares not purchased on the applicable installment date may be purchased
        thereafter at any time before the final expiration of the stock option. To exercise a stock option, the Grantee must give written notice to AIG specifying the number of shares to be purchased and accompanied by payment of the full purchase price
        therefor in cash or by certified or official bank check or in another form as determined by the Company, including: (a) personal check, (b) shares of Common Stock, valued as of the exercise date, of the same class as those to be granted by exercise
        of the stock option, (c) any other form of consideration approved by the Company and permitted by applicable law and (d) any combination of the foregoing. Any person exercising a stock option will make such representations and agreements and
        furnish such information as the Committee may in its discretion deem necessary or desirable to assure compliance by AIG, on terms acceptable to AIG, with the provisions of the Securities Act, and any other applicable legal requirements. If a
        Grantee so requests, shares purchased may be issued in the name of the Grantee and another jointly with the right of survivorship.

     

    2.3.6 Repricing. Except as otherwise permitted by Section 1.6.4, reducing the exercise price of stock
        options issued and outstanding under the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other consideration (in each case that has the effect of reducing the exercise
        price), will require approval of the shareholders.

     

     

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    2.4 Stock Appreciation Rights.

     

    2.4.1 Grant. Stock appreciation rights may be granted to eligible recipients in such number and at such
        times during the term of the Plan as the Committee or the Board may determine, subject to the limits on grants set forth in Section 2.4.6.

     

    2.4.2 Exercise Price. The exercise price per share with respect to each stock appreciation right will be
        determined by the Committee but, except as otherwise permitted by Section 1.6.4 or in the case of an Acquisition Award, may never be less than the Fair Market Value of the Common Stock. Unless otherwise noted in the Award Agreement, the Fair Market
        Value of the Common Stock will be its closing price on the New York Stock Exchange on the date of grant of the Award of stock appreciation rights.

     

    2.4.3 Term of Stock Appreciation Right. In no event will any stock appreciation right be exercisable
        after the expiration of ten (10) years from the date on which the stock appreciation right is granted.

     

    2.4.4 Exercise of Stock Appreciation Right and Delivery of Shares. Subject to Section 2.12, each stock
        appreciation right may not be exercised for one year after the date on which the stock appreciation right is granted (except in the case of termination of Employment due to death, disability or retirement), but thereafter may be exercised in such
        installments as may be determined in the Award Agreement at the time the stock appreciation right is granted. Subject to any limitations in the applicable Award Agreement, any stock appreciation rights not exercised on the applicable installment
        date may be exercised thereafter at any time before the final expiration of the stock appreciation right. To exercise a stock appreciation right, the Grantee must give written notice to AIG specifying the number of stock appreciation rights to be
        exercised. Upon exercise of stock appreciation rights, subject to any limitations in the applicable Award Agreement, shares of Common Stock or cash, in the Committee’s discretion, with a Fair Market Value or in an amount equal to (a) the excess of
        (i) the Fair Market Value of the Common Stock on the date of exercise over (ii) the exercise price of such stock appreciation right multiplied by (b) the number of stock appreciation rights exercised will be delivered to the
        Grantee. Any person exercising a stock appreciation right will make such representations and agreements and furnish such information as the Committee may, in its discretion, deem necessary or desirable to assure compliance by AIG, on terms
        acceptable to AIG, with the provisions of the Securities Act and any other applicable legal requirements. If a Grantee so requests, shares purchased may be issued in the name of the Grantee and another jointly with the right of survivorship.

     

    2.4.5 Repricing. Except as otherwise permitted by Section 1.6.4, reducing the exercise price of stock
        appreciation rights issued and outstanding under the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other consideration (in each case that has the effect of reducing the
        exercise price), will require approval of the shareholders.

     

    2.5 Restricted Shares.

     

    2.5.1 Grants. The Committee may grant or offer for sale restricted shares in such amounts and subject to
        such terms and conditions as the Committee may determine, including, without limitation, the achievement of performance goals. In the event that a Certificate is issued in respect of restricted shares, such Certificate may be registered in the name
        of the Grantee but will be held by AIG or its designated agent until the time the restrictions lapse.

     

    2.5.2 Right to Vote and Receive Dividends on Restricted Shares. Notwithstanding anything to the contrary
        in this Section 2.5.2, no dividends will be paid at a time when any performance-based goals or time-based vesting requirements that apply to an Award of restricted shares have not been satisfied. Unless the applicable Award Agreement provides
        otherwise, each Grantee of an Award of restricted shares will, during the period of restriction, have all of the rights of a shareholder holding the class or series of Common Stock that is the subject of the restricted shares, except as otherwise
        provided herein, including full voting rights. During the period of restriction, all ordinary cash dividends (if any, as determined by the Committee in its sole discretion) paid upon any restricted share will be retained by the Company for the
        account of the relevant Grantee. Such dividends will revert back to the Company if for any reason the restricted share upon which such dividends

     

     

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    were paid reverts back to the Company. Upon the expiration of the period of restriction, all such dividends made
        on such restricted share and retained by the Company will be paid to the relevant Grantee. Additional shares or other property distributed to the Grantee in respect of restricted shares, as dividends or otherwise, will be subject to the same
        restrictions applicable to such restricted shares.

     

    2.6 Restricted Stock Units. The Committee may grant Awards of restricted stock units
        in such amounts and subject to such terms and conditions as the Committee may determine, including, without limitation, the achievement of performance goals. A Grantee of a restricted stock unit will have only the rights of a general unsecured
        creditor of AIG until delivery of shares of Common Stock, cash or other securities or property is made as specified in the applicable Award Agreement. On the delivery date specified in the Award Agreement, the Grantee of each restricted stock unit
        not previously forfeited or terminated will receive one share of Common Stock, or cash, securities or other property equal in value to a share of Common Stock or a combination thereof, as specified by the Committee.

     

    2.7 Other Stock-Based Awards. The Committee may grant other types of equity-based or
        equity-related Awards (including, without limitation, the grant or offer for sale of unrestricted shares of Common Stock) in such amounts and subject to such terms and conditions as the Committee may determine. Such Awards may entail the transfer
        of actual shares of Common Stock to Award recipients or may be settled in cash, and may include Awards designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.

     

    2.8 Cash-Based Awards. The Committee may grant cash-based Awards in such amounts and
        subject to such terms and conditions as the Committee may determine.

     

    2.9 Dividend Equivalent Rights. The Committee may include in the Award Agreement with
        respect to any Award, other than stock options and stock appreciation rights, a dividend equivalent right entitling the Grantee to receive amounts equal to all or any portion of the dividends that would be paid on the shares of Common Stock covered
        by such Award if such shares had been delivered pursuant to such Award. The grantee of a dividend equivalent right will have only the rights of a general unsecured creditor of AIG until payment of such amounts is made as specified in the applicable
        Award Agreement. In the event such a provision is included in an Award Agreement, the Committee will, subject to Section 3.14.1, determine whether such payments will be made in cash, in shares of Common Stock or in another form, whether they will
        be conditioned upon the exercise or vesting of the Award to which they relate (provided that in no event may such payments be made unless and until the Award to which they relate vests), the time or times at which they will be made, and such other
        terms and conditions as the Committee may deem appropriate. No payments will be made in respect of any dividend equivalent right at a time when any performance-based goals or time-based vesting requirements that apply to the dividend equivalent
        right or Award that is granted in connection with a dividend equivalent right have not been satisfied.

     

    2.10 Related Option Transactions. The Committee may grant put options and enter into
        call options relating to Awards, including an Award of unrestricted Common Stock. The put options may permit the Grantee, at the Grantee’s option, to sell the Award back to the Company at such times, on such terms and conditions and at such prices
        as the Committee or the Board may determine. The call options may require the Grantee, at the Company’s election, to sell the Award back to the Company at such times, on such terms and conditions and at such prices as the Committee or the Board may
        determine. The Committee may determine to issue an Award and any related put option and enter into any related call option as a single non-separable unit.

     

    2.11 Change in Control Provisions.

     

    2.11.1 Except as otherwise provided in the applicable Award Agreement, in the event that within two years
        following a Change in Control a Grantee’s Employment is terminated by AIG without “cause” (as defined in the Award Agreement) or by the Grantee for “good reason” (as defined in the Award Agreement), any outstanding unvested Award held by such
        Grantee shall vest as with respect to any service-based vesting requirement. Except as otherwise provided in the applicable Award Agreement, following a Change in Control any performance goals with respect to an outstanding Award and for which the
        performance period ends after the Change in Control shall be deemed achieved at target level. In addition, in the event of a Change in Control

     

     

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    where all stock options and stock appreciation rights are settled for an amount (as determined in the sole
        discretion of the Committee) of cash or securities, the Committee may, in its sole discretion, terminate any stock option or stock appreciation right for which the exercise price is equal to or exceeds the per share value of the consideration to be
        paid in the Change in Control transaction without payment of consideration therefor.

     

    2.11.2 Unless otherwise provided in the applicable Award Agreement and except as otherwise determined by the
        Committee, in the event of a Business Combination of AIG with or into any successor entity or any transaction in which another person or entity acquires all of the issued and outstanding Common Stock of AIG, or all or substantially all of the
        assets of AIG as an entirety, outstanding Awards may be assumed or a substantially equivalent Award may be substituted by such successor entity or a parent or subsidiary of such successor entity, and such an assumption or substitution shall not be
        deemed to violate this Plan or any provision of any Award Agreement.

     

    2.12 Minimum Vesting. Notwithstanding anything to the contrary in the Plan, Awards
        granted under the Plan (other than cash-based awards) shall vest no earlier than the first anniversary of the date on which the Award is granted; provided, however, that the following Awards shall not be subject to the foregoing minimum vesting
        requirement: any (i) Acquisition Awards, (ii) shares of Common Stock delivered in lieu of fully vested cash obligations, (iii) Awards to Non-Employee Directors that vest on the earlier of the one-year anniversary of the date of grant and the next
        annual meeting of shareholders which is at least 50 weeks after the immediately preceding year’s annual meeting, and (iv) any additional Awards the Committee may grant, up to a maximum of five percent (5%) of the available share reserve authorized
        for issuance under the Plan pursuant to Section 1.6.1 (subject to adjustment under Section 1.6.4); provided, further, that vesting may accelerate in connection with death, disability, retirement, a Change in Control or other involuntary
        termination.

     

    ARTICLE III

     

    MISCELLANEOUS

     

    3.1 Amendment of the Plan.

     

    3.1.1 Unless otherwise provided in an Award Agreement, the Board may from time to time suspend, discontinue,
        revise or amend the Plan in any respect whatsoever, including in any manner that adversely affects the rights, duties or obligations of any Grantee of an Award.

     

    3.1.2 Unless otherwise determined by the Board, shareholder approval of any suspension, discontinuance, revision
        or amendment will be obtained only to the extent necessary to comply with any applicable laws, regulations or rules of a securities exchange or self-regulatory agency, except that shareholder approval shall be required for any amendment to the Plan
        (i) that materially increases the benefits available under the Plan, (ii) to reduce the exercise price of stock options or stock appreciation rights issued and outstanding under the Plan, including through amendment, cancellation in exchange for
        the grant of a substitute Award or repurchase for cash or other consideration (in each case that has the effect of reducing the exercise price) or (iii) to permit the sale or other disposition of an Award of a stock option or a stock appreciation
        right to an unrelated third party for value.

     

    3.2 Tax Withholding. Grantees shall be solely responsible for any applicable taxes
        (including, without limitation, income and excise taxes) and penalties, and any interest that accrues thereon, that they incur in connection with the receipt, vesting or exercise of any Award. As a condition to the delivery of any shares of Common
        Stock pursuant to any Award or the lifting or lapse of restrictions on any Award, or in connection with any other event that gives rise to a federal or other governmental tax withholding obligation on the part of the Company relating to an Award
        (including, without limitation, FICA tax), unless otherwise provided in an Award Agreement, (a) the Company may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to a Grantee whether or not pursuant to the
        Plan (including shares of Common Stock otherwise deliverable) the minimum required to meet the tax withholding obligation up to the maximum statutory rate or (b) the Committee will be entitled to require that the Grantee remit cash to the Company
        (through payroll deduction or otherwise) or previously owned shares of Common Stock or other property, in each case in an amount sufficient in the opinion of the Company to satisfy such withholding obligation.

     

     

    	2021 Proxy Statement		B-11

    
       

    

    
      

         

    

    Appendix B
        American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    3.3 Required Consents and Legends.

     

    3.3.1 If the Committee at any time determines that any Consent (as hereinafter defined) is necessary or
        desirable as a condition of, or in connection with, the granting of any Award, the delivery of shares of Common Stock or the delivery of any cash, securities or other property under the Plan, or the taking of any other action thereunder (each such
        action a “Plan Action”), then, subject to Section 3.14.2, such Plan Action will not be taken, in whole or in part, unless and until such Consent will have been effected or obtained to the full satisfaction of the Committee. The Committee may
        direct that any Certificate evidencing shares delivered pursuant to the Plan will bear a legend setting forth such restrictions on transferability as the Committee may determine to be necessary or desirable, and may advise the transfer agent to
        place a stop transfer order against any legended shares.

     

    3.3.2 The term “Consent” as used in this Article III with respect to any Plan Action includes (a) any and
        all listings, registrations or qualifications in respect thereof upon any securities exchange or under any federal, state, or local law, or law, rule or regulation of a jurisdiction outside the United States, or any other matter, which the
        Committee may deem necessary or desirable to comply with the terms of any such listing, registration or qualification or to obtain an exemption from the requirement that any such listing, qualification or registration be made, (b) any and all other
        consents, clearances and approvals in respect of a Plan Action by any governmental or other regulatory body or any stock exchange or self-regulatory agency, (c) any applicable requirement of the Code, (d) any and all consents or authorizations
        required to comply with, or required to be obtained under, applicable local law, (e) any and all consents by the Grantee to the Company’s supplying to any third party recordkeeper of the Plan such personal information as the Committee deems
        advisable to administer the Plan and (f) any and all consents or other documentation required by the Committee. Nothing herein will require the Company to list, register or qualify the shares of Common Stock on any securities exchange.

     

    3.4 Clawback. Awards under the Plan shall be subject to the clawback or recapture
        policy, if any, that the Company may adopt from time to time to the extent provided in such policy and, in accordance with such policy, may be subject to the requirement that the Awards be repaid to the Company after they have been distributed or
        paid to the Grantee.

     

    3.5 Right of Offset. Except with respect to Awards that are intended to be “deferred
        compensation” subject to Section 409A, the Company will have the right to offset against its obligation to deliver shares of Common Stock (or cash, other securities or other property) under the Plan or any Award Agreement any outstanding amounts
        (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable to the Company pursuant to tax equalization, housing, automobile or other employee programs)
        that the Grantee then owes to the Company and any amounts the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement.

     

    3.6 Nonassignability; No Hedging. No Award (or any rights and obligations thereunder)
        granted to any person under the Plan may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of or hedged, in any manner (including through the use of any cash-settled instrument), whether voluntarily or
        involuntarily and whether by operation of law or otherwise, other than by will or by the laws of descent and distribution, except as may be otherwise provided in the Award Agreement, consistent with Section 3.1.2. Any sale, exchange, transfer,
        assignment, pledge, hypothecation, or other disposition in violation of the provisions of this Section 3.6 will be null and void and any Award which is hedged in any manner will immediately be forfeited. All of the terms and conditions of the Plan
        and the Award Agreements will be binding upon any permitted successors and assigns.

     

    3.7 Successor Entity. Unless otherwise provided in the applicable Award Agreement and
        except as otherwise determined by the Committee, in the event of a Business Combination of AIG with or into any other entity (“successor entity”) or any transaction in which another person or entity acquires all of the issued and outstanding
        Common Stock of AIG, or all or substantially all of the assets of AIG, outstanding Awards may be assumed or a substantially equivalent award may be substituted by such successor entity or a parent or subsidiary of such successor entity.

     

     

    	B-12	 	2021 Proxy Statement

    
       

    

    
      

         

    

    Appendix B American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    3.8 Right of Discharge Reserved. Nothing in the Plan or in any Award Agreement will
        confer upon any Grantee the right to continued Employment by the Company or affect any right which the Company may have to terminate such Employment.

     

    3.9 Nature of Payments.

     

    3.9.1 Any and all grants of Awards and deliveries of Common Stock, cash, securities or other property under the
        Plan will be in consideration of services performed or to be performed for the Company by the Grantee. Awards under the Plan may, in the discretion of the Committee, and subject to Section 3.14.1, be made in substitution in whole or in part for
        cash or other compensation otherwise payable to a participant in the Plan. Only whole shares of Common Stock will be delivered under the Plan. Awards will, to the extent reasonably practicable, be aggregated in order to eliminate any fractional
        shares. Fractional shares may, in the discretion of the Committee, be forfeited or be settled in cash or otherwise as the Committee may determine.

     

    3.9.2 All such grants and deliveries will constitute a special discretionary payment to the Grantee and, unless
        otherwise provided in an Award Agreement or the Committee specifically provides otherwise, will not be required to be taken into account in computing the amount of salary or compensation of the Grantee for the purpose of determining any
        contributions to or any benefits under any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of the Company or under any agreement with the Grantee.

     

    3.10 Non-Uniform Determinations.

     

    3.10.1 The Committee’s determinations under the Plan and Award Agreements need not be uniform and may be made by
        it selectively among persons who receive, or are eligible to receive, Awards under the Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee will be entitled, among other things,
        to make non-uniform and selective determinations under Award Agreements, and to enter into non-uniform and selective Award Agreements, as to (a) the persons to receive Awards, (b) the terms and provisions of Awards and (c) whether a Grantee’s
        Employment has been terminated for purposes of the Plan.

     

    3.10.2 To the extent the Committee deems it necessary, appropriate or desirable to comply with foreign law or
        practices and to further the purposes of the Plan, the Committee may, without amending the Plan, establish special rules applicable to Awards to Grantees who are foreign nationals, are employed outside the United States or both and grant Awards (or
        amend existing Awards) in accordance with those rules.

     

    3.11 Other Payments or Awards. Nothing contained in the Plan will be deemed in any
        way to limit or restrict the Company from making any award or payment to any person under any other plan, arrangement or understanding, whether now existing or hereafter in effect. In addition, Section 1.6.1 (as adjusted by Section 1.6.4) sets
        forth the only limit on the amount of cash, securities or other property that may be delivered pursuant to this Plan.

     

    3.12 Plan Headings. The headings in the Plan are for the purpose of convenience only
        and are not intended to define or limit the construction of the provisions hereof.

     

    3.13 Termination of Plan. The Board reserves the right to terminate the Plan at any
        time; provided, however, that in any case, the Plan will terminate on the tenth (10th) anniversary of the Effective Date, and provided further,
        that all Awards made under the Plan before its termination will remain in effect until such Awards have been satisfied or terminated in accordance with the terms and provisions of the Plan and the applicable Award Agreements.

     

    3.14 Section 409A.

     

    3.14.1 The Board and the Committee shall have full authority to give effect to any statement in an Award
        Agreement to the effect that an Award is intended to be “deferred compensation” subject to Section 409A, to be exempt from Section 409A or to have other intended treatment under Section 409A and/or other provision of

     

     

    	2021 Proxy Statement		B-13

    
       

    

    
      

         

    

    Appendix B 
        American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    the Code. To the extent necessary to give effect to this authority, in the case of any conflict or potential
        inconsistency between the Plan and a provision of any Award or Award Agreement with respect to the subject matter of this paragraph, the Plan shall govern.

     

    3.14.2 Without limiting the generality of Section 3.14.1, with respect to any Award made under the Plan that is
        intended to be “deferred compensation” subject to Section 409A: (a) references to termination of the Grantee’s employment will mean the Grantee’s separation from service with the Company within the meaning of Section 409A; (b) any payment to be
        made with respect to such Award in connection with the Grantee’s separation from service with the Company within the meaning of Section 409A that would be subject to the limitations in Section 409A(a)(2)(b) of the Code shall be delayed until six
        months after the Grantee’s separation from service (or earlier death) in accordance with the requirements of Section 409A; (c) to the extent necessary to comply with Section 409A, any cash, other securities, other Awards or other property that the
        Company may deliver in lieu of shares of Common Stock in respect of an Award shall not have the effect of deferring delivery or payment beyond the date on which such delivery or payment would occur with respect to the shares of Common Stock that
        would otherwise have been deliverable (unless the Committee elects a later date for this purpose in accordance with the requirements of Section 409A); (d) with respect to any required Consent described in Section 3.3 or the applicable Award
        Agreement, if such Consent has not been effected or obtained as of the latest date provided by such Award Agreement for payment in respect of such Award and further delay of payment is not permitted in accordance with the requirements of Section
        409A, such Award or portion thereof, as applicable, will be forfeited and terminated notwithstanding any prior earning or vesting; (e) if the Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of
        the regulations promulgated under the Code), the Grantee’s right to the series of installment payments shall be treated as a right to a series of separate payments and not as a right to a single payment; (f) if the Award includes “dividend
        equivalents” (within the meaning of Section 1.409A-3(e) of the regulations promulgated under the Code), the Grantee’s right to the dividend equivalents shall be treated separately from the right to other amounts under the Award; and (g) unless the
        Committee determines otherwise, for purposes of determining whether the Grantee has experienced a separation from service with the Company within the meaning of Section 409A, “subsidiary” shall mean a corporation or other entity in a chain of
        corporations or other entities in which each corporation or other entity, starting with AIG, has a controlling interest in another corporation or other entity in the chain, ending with such corporation or other entity. For purposes of the preceding
        sentence, the term “controlling interest” has the same meaning as provided in Section 1.414(c)-2(b)(2)(i) of the regulations promulgated under the Code, provided that the language “at least 20 percent” is used instead of “at least 80
        percent” each place it appears in Section 1.414(c)-2(b)(2)(i) of the regulations promulgated under the Code.

     

    3.15 Governing Law. THE PLAN WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
        LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

     

    3.16 Severability; Entire Agreement. If any of the provisions of the Plan or any
        Award Agreement is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the
        remaining provisions will not be affected thereby; provided that if any of such provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined to be acceptable to permit such provision
        to be enforceable, such provision will be deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. The Plan and any Award Agreements contain the entire agreement of the
        parties with respect to the subject matter thereof and supersede all prior agreements, promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral with respect to the subject matter
        thereof.

     

    3.17 Waiver of Claims. Each Grantee of an Award recognizes and agrees that before
        being selected by the Committee to receive an Award he or she has no right to any benefits hereunder. Accordingly, in consideration of the Grantee’s receipt of any Award hereunder, he or she expressly waives any right to contest the amount of any
        Award, the terms of any Award Agreement, any determination, action or omission hereunder or under any Award Agreement by the Committee, the Company or the Board, or any amendment to the Plan or any Award Agreement (other than an amendment to the
        Plan or an Award Agreement to which his or her consent is expressly required by the express terms of an Award Agreement).

     

     

    	B-14	 	2021 Proxy Statement

    
       

    

    
      

      

    

    Appendix B  American International Group, Inc. 2021 Omnibus Incentive Plan

     

    
       

    

    3.18 No Liability With Respect to Tax Qualification or Adverse Tax Treatment.
        Notwithstanding anything to the contrary contained herein, in no event shall the Company be liable to a Grantee on account of an Award’s failure to (a) qualify for favorable United States or foreign tax treatment or (b) avoid adverse tax treatment
        under United States or foreign law, including, without limitation, Section 409A.

     

    3.19 No Third Party Beneficiaries. Except as expressly provided therein, neither the
        Plan nor any Award Agreement will confer on any person other than the Company and the Grantee of any Award any rights or remedies thereunder. The exculpation and indemnification provisions of Section 1.3.3 will inure to the benefit of a Covered
        Person’s estate and beneficiaries and legatees.

     

    3.20 Successors and Assigns of AIG. The terms of the Plan will be binding upon and
        inure to the benefit of AIG and any successor entity contemplated by Section 3.7.

     

    3.21 Date of Adoption and Approval of Shareholders. The Plan was adopted on March 11,
        2021 by the Board and is subject to, and will become effective upon receipt of, approval by the shareholders of AIG (the “Effective Date”).

     

     

    	2021 Proxy Statement		B-15

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