Document:

PROMISSORY NOTE

$18,000,000                                                         May 25, 2005

            FOR VALUE RECEIVED, FT-AMHERST PROPERTY LLC, a Delaware limited
liability company, having an address at Two Jericho Plaza, Wing A, Suite 111,
Suite 111, Jericho, New York 11753 ("Maker"), hereby promises to pay to the
order of GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a Delaware corporation, at
its principal place of business at 600 Steamboat Road, Greenwich, Connecticut
06830 (together with its successors and assigns "Payee") or at such place as the
holder hereof may from time to time designate in writing, the principal sum of
EIGHTEEN MILLION AND 00/100 DOLLARS ($18,000,000.00) (the "Principal"), in
lawful money of the United States of America, with interest on the unpaid
principal balance from time to time outstanding at the Interest Rate, in
installments as follows:

      A. A payment of $33,900 on the date hereof, representing interest from the
date of funding through June 5, 2005;

      B. On July 6, 2005 (which shall be the first Payment Date hereunder) and
each Payment Date thereafter through and including the Payment Date immediately
preceding the Amortization Commencement Date, Maker shall make a monthly payment
of interest on the unpaid Principal accrued at the Interest Rate during the
Interest Period immediately preceding such Payment Date (the "Monthly Interest
Payment Amount"). On the Amortization Commencement Date and each Payment Date
thereafter through and including October 6, 2013 (as such date may be changed in
accordance with Section 2.2.4 of the Loan Agreement), the Principal and interest
thereon at the Interest Rate shall be payable in equal monthly installments of
$112,153.96 (the "Monthly Debt Service Payment Amount"); which is based on the
Interest Rate and a 300-month amortization schedule; each of such payments,
subject to the provisions of Section 3.11 of the Loan Agreement (hereinafter
defined), to be applied (a) to the payment of interest computed at the rate
aforesaid; and (b) the balance applied toward the reduction of the principal
sum; and

      C. The balance of the principal sum of this Note together with all accrued
and unpaid interest thereon shall be due and payable on the Maturity Date.

      1. Definitions. Capitalized terms used but not otherwise defined herein
shall have the meanings given in that certain Loan Agreement (the "Loan
Agreement") dated the date hereof between Maker and Payee. The following terms
have the meanings set forth below:

            Amortization Commencement Date: November 6, 2005, as such date may
be changed in accordance with Section 2.2.4 of the Loan Agreement.

            Business Day: any day other than a Saturday, Sunday or any day on
which commercial banks in New York, New York are authorized or required to
close.

<PAGE>

            Default Rate: a rate per annum equal to the lesser of (i) the
maximum rate permitted by applicable law, or (ii) 5% above the Interest Rate,
compounded monthly.

            Interest Period: (i) the period from the date hereof through the
first day thereafter that is the 5th day of a calendar month and (ii) each
period thereafter from the 6th day of each calendar month through the 5th day of
the following calendar month; except that the Interest Period, if any, that
would otherwise commence before and end after the Maturity Date shall end on the
Maturity Date. Notwithstanding the foregoing, if Payee exercises its right to
change the Payment Date to a New Payment Date in accordance with Section 2.2.4
of the Loan Agreement, then from and after such election, each Interest Period
shall be the period from the New Payment Date in each calendar month through the
day in the next succeeding calendar month immediately preceding the New Payment
Date in such calendar month.

            Interest Rate: a rate of interest equal to 5.65% per annum (or, when
applicable pursuant to this Note or any other Loan Document, the Default Rate).

            Maturity Date: the date on which the final payment of principal of
this Note becomes due and payable as therein provided, whether at the Stated
Maturity Date, by declaration of acceleration, or otherwise.

            Payment Date: the 6th day of each calendar month or, upon Payee's
exercise of its right to change the Payment Date in accordance with Section
2.2.4 of the Loan Agreement, the New Payment Date (in either case, if such day
is not a Business Day, the Payment Date shall be the first Business Day
thereafter). The first Payment Date hereunder shall be July 6, 2005.

            Stated Maturity Date: November 6, 2013, as such date may be changed
in accordance with Section 2.2.4 of the Loan Agreement.

            Yield Maintenance Premium: an amount which, when added to the
outstanding Principal, would be sufficient to purchase U.S. Obligations which
provide payments (a) on or prior to, but as close as possible to, all successive
scheduled payment dates under this Note through the Stated Maturity Date and (b)
in amounts equal to the Monthly Debt Service Payment Amount and/or the Monthly
Interest Payment Amount, as the case may be, required under this Note through
the Stated Maturity Date together with the outstanding principal balance of this
Note as of the Stated Maturity Date assuming all such Monthly Debt Service
Payments and/or the Monthly Interest Payment Amount, as the case may be, are
made (including any servicing costs associated therewith). In no event shall the
Yield Maintenance Premium be less than zero.

      2. Payments and Computations. Interest on the unpaid Principal shall be
computed on the basis of the actual number of days elapsed over a 360-day year.
All amounts due under this Note shall be payable without setoff, counterclaim or
any other deduction whatsoever and are payable without relief from valuation and
appraisement laws and with all costs and charges incurred in the collection or
enforcement hereof, including, attorneys' fees and court costs.

      3. Loan Documents. This Note is evidence of that certain loan made by
Payee to Maker contemporaneously herewith and is executed pursuant to the terms
and conditions of the Loan Agreement. This Note is secured by and entitled to
the benefits of, among other things, the Mortgage and the other Loan Documents.
Reference is made to the Loan Documents for a description of the nature and

                                       2
<PAGE>

extent of the security afforded thereby, the rights of the holder hereof in
respect of such security, the terms and conditions upon which this Note is
secured and the rights and duties of the holder of this Note. No reference
herein to and no provision of any other Loan Document shall alter or impair the
obligation of Maker, which is absolute and unconditional (except for Section
10.1 of the Loan Agreement), to pay the principal of and interest on this Note
at the time and place and at the rates and in the monies and funds described
herein. All of the agreements, conditions, covenants, provisions and
stipulations contained in the Loan Documents to be kept and performed by Maker
are by this reference hereby made part of this Note to the same extent and with
the same force and effect as if they were fully set forth in this Note, and
Maker covenants and agrees to keep and perform the same, or cause the same to be
kept and performed, in accordance with their terms.

      4. Loan Acceleration; Prepayment. The Debt, shall without notice become
immediately due and payable at the option of Payee if any payment required in
this Note is not paid on the date on which it is due or upon the happening of
any other Event of Default. Maker shall have no right to prepay or defease all
or any portion of the Principal except in accordance with Sections 2.3.2, 2.3.3,
2.3.4 and 2.4 of the Loan Agreement. If prior to the third Payment Date prior to
the Stated Maturity Date (i) Maker shall (notwithstanding such prohibition of
prepayment) tender, and Payee shall, in its sole discretion, elect to accept,
payment of the Debt, or (ii) the Debt is accelerated by reason of an Event of
Default, then the Debt shall include, and Payee shall be entitled to receive, in
addition to the outstanding principal and accrued interest and other sums due
under the Loan Documents, an amount equal to the Yield Maintenance Premium, if
any, that would be required in connection with a Defeasance if a Defeasance were
to occur at the time of Payee's acceptance of such tender or other receipt of
the Debt (through foreclosure or otherwise), as the case may be. The principal
balance of this Note is subject to mandatory prepayment, without premium or
penalty, in certain instances of Insured Casualty or Condemnation, as more
particularly set forth in Sections 2.3.2 and 7.4.2 of the Loan Agreement. Except
during the continuance of an Event of Default, all proceeds of any repayment,
including permitted prepayments, of Principal shall be applied in accordance
with Section 2.3.1 of the Loan Agreement. During the continuance of an Event of
Default, all proceeds of repayment, including any payment or recovery on the
Property (whether through foreclosure, deed-in-lieu of foreclosure, or
otherwise) shall, unless otherwise provided in the Loan Documents, be applied in
such order and in such manner as Payee shall elect in Payee's discretion.

      5. Default Rate. After the occurrence and during the continuance of an
Event of Default, the entire unpaid Debt shall bear interest at the Default
Rate, and shall be payable upon demand from time to time, to the extent
permitted by applicable law.

      6. Late Payment Charge. If any Principal, interest or other sum due under
any Loan Document is not paid by Maker on the date on which it is due, Maker
shall pay to Payee upon demand an amount equal to the lesser of 5% of such
unpaid sum or the maximum amount permitted by applicable law, in order to defray
the expense incurred by Payee in handling and processing such delinquent payment
and to compensate Payee for the loss of the use of such delinquent payment.

                                       3
<PAGE>

      7. Amendments. This Note may not be modified, amended, waived, extended,
changed, discharged or terminated orally or by any act or failure to act on the
part of Maker or Payee, but only by an agreement in writing signed by the party
against whom enforcement of any modification, amendment, waiver, extension,
change, discharge or termination is sought. Whenever used, the singular number
shall include the plural, the plural the singular, and the words "Payee" and
"Maker" shall include their respective successors, assigns, heirs, executors and
administrators. If Maker consists of more than one person or party, the
obligations and liabilities of each such person or party shall be joint and
several.

      8. Waiver. Maker and all others who may become liable for the payment of
all or any part of the Debt do hereby severally waive presentment and demand for
payment, notice of dishonor, protest, notice of protest, notice of nonpayment,
notice of intent to accelerate the maturity hereof and of acceleration. No
release of any security for the Debt or any person liable for payment of the
Debt, no extension of time for payment of this Note or any installment hereof,
and no alteration, amendment or waiver of any provision of the Loan Documents
made by agreement between Payee and any other person or party shall release,
modify, amend, waive, extend, change, discharge, terminate or affect the
liability of Maker, and any other person or party who may become liable under
the Loan Documents, for the payment of all or any part of the Debt.

      9. Exculpation. It is expressly agreed that recourse against Maker for
failure to perform and observe its obligations contained in this Note shall be
limited as and to the extent provided in Section 10.1 of the Loan Agreement.

      10. Notices. All notices or other communications required or permitted to
be given pursuant hereto shall be given in the manner specified in the Loan
Agreement directed to the parties at their respective addresses as provided
therein.

      11. No Conflicts. In the event of any conflict between the provisions of
this Note and any provision of the Loan Agreement, then the provisions of the
Loan Agreement shall control.

      12. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES
OF CONFLICTS OF LAWS) AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

                            [Signature Page Follows]

                                       4
<PAGE>

            IN WITNESS WHEREOF, Maker has executed this Promissory Note as of
the day and year first written.

                                        MAKER:

                                        FT-AMHERST PROPERTY LLC,
                                        a Delaware limited liability company

                                        By: FT-Amherst Property Manager LLC,
                                            Its managing member

                                            By :
                                                 -------------------------------
                                                 Name:  John Alba
                                                 Title: Senior Vice President

                                       5EX-10.1

Exhibit 10.1

MERCK & CO., INC.

PLAN FOR DEFERRED PAYMENT OF

DIRECTORS’ COMPENSATION

(Amended and Restated as of May 31, 2005)

1

TABLE OF CONTENTS

Page

	 	 	 	 	 	 	 	 	 
	Article I
	 	Purpose                                                                        
	 	 	1	 
	Article II
	 	Election of Deferral, Measurement Methods and Distribution Schedule            
	 	 	1	 
	Article III
	 	Valuation of Deferred Amounts                                                  
	 	 	2	 
	Article IV
	 	Redesignation Within a Deferral Account                                        
	 	 	4	 
	Article V
	 	Payment of Deferred Amounts                                                    
	 	 	5	 
	Article VI
	 	Designation of Beneficiary                                                     
	 	 	6	 
	Article VII
	 	Plan Amendment or Termination                                                  
	 	 	6	 
	Schedule A
	 	Measurement Methods                                                            
	 	 	7	 

2

(i)

MERCK & CO., INC.

PLAN FOR DEFERRED PAYMENT OF

DIRECTORS’ COMPENSATION

I. PURPOSE

To provide an arrangement under which directors of Merck & Co., Inc. other than
current employees may (i) elect to voluntarily defer payment of annual retainers and Board
and committee meeting fees until after termination of their service as a director, and (ii)
value compensation mandatorily deferred on their behalf.

	 	 	 
	II.

	 	ELECTION OF DEFERRAL, MEASUREMENT METHODS AND

DISTRIBUTION SCHEDULE

A. Election of Voluntary Deferral Amount

	 	1.	 	Prior to December 28 of each year, each director is entitled to make an
irrevocable election to defer until termination of service as a director receipt of
payment of (a) 50% or 100% of the Board retainer for the 12 months beginning April 1
of the next calendar year, (b) 50% or 100% of the Committee Chairperson retainer for
the 12 months beginning April 1 of the next calendar year, (c) 50% or 100% of the
Audit Committee member retainer for the 12 months beginning April 1 of the next
calendar year and (d) 50% or 100% of the Board and committee meeting fees for the 12
months beginning April 1 of the next calendar year.

	 	2.	 	Prior to commencement of duties as a director, a director newly elected or
appointed to the Board during a calendar year must make the election under this
paragraph for the portion of the Voluntary Deferral Amount applicable to such
director’s first year of service (or part thereof).

	 	3.	 	The Voluntary Deferral Amount shall be credited as follows: (1) Board and
committee meeting fees that are deferred are credited on the last business day of each
calendar quarter; (2) if the Board retainer, Committee Chairperson retainer and/or
Audit Committee member retainer are deferred, a pro-rata share of the deferred
retainer is credited on the last business day of each calendar quarter. The dates the
Voluntary Deferral Amount, or parts thereof, are credited to the director’s deferred
account are hereinafter referred to as the Voluntary Deferral Dates.

B. Mandatory Deferral Amount

	 	1.	 	On the Friday following the Company’s Annual Meeting of Stockholders (such
Friday hereinafter referred to as the “Mandatory Deferral Date”), each director will
be credited with an amount equivalent to one-third of the annual cash retainer for the
12 month period beginning on the April 1 preceding the Annual Meeting (the “Mandatory
Deferral Amount”). The Mandatory Deferral Amount will be measured by the Merck Common
Stock account.

	 	2.	 	A director newly elected or appointed to the Board after the Mandatory
Deferral Date will be credited with a pro rata portion of the Mandatory Deferral
Amount applicable to such director’s first year of service (or part thereof). Such
pro rata portion shall be credited to the director’s account on the first day of such
director’s service.

C. Automatic Deferral of Executive Committee Fees

	 	1.	 	Effective June 1, 2005, any director who serves as either Chairperson or
member of the Board’s Executive Committee, in lieu of any cash payment for such
service, will be credited with an amount, if any, provided by way of retainer or
meeting fees (the “Automatic Deferral Amount”). The Automatic Deferral Amount will be
measured by the Merck Common Stock account.

	 	2.	 	The “Automatic Deferral Date” with respect to meeting fees will be the last
business day of each calendar quarter during which such meetings occurred. The
“Automatic Deferral Date” for Committee Chairperson retainer and/or Committee member
retainer fees, which are annual fees paid quarterly, will be the last business day of
each calendar quarter.

D. Election of Measurement Method

Each such annual election referred to in Section A shall include an election as to
the measurement method or methods by which the value of amounts deferred will be
measured in accordance with Article III, below. The available measurement methods
are set forth on Schedule A hereto.

E. Election of Distribution Schedule

Each annual election referred to in Article II, Sections A, B and C shall also
include an election to receive payment following termination of service as a
director of all Voluntary Deferral Amounts, Mandatory Deferral Amounts and
Automatic Deferral Amounts in a lump sum either immediately or one year after such
termination, or in quarterly or annual installments over five, ten or fifteen
years. Any election made with respect to a Mandatory Deferral Amount also shall
apply with respect to any Automatic Deferral Amount credited during the same
period.

III. VALUATION OF DEFERRED AMOUNTS

A. Common Stock

	 	1.	 	Initial Crediting. The annual Mandatory Deferral Amount shall be used to
determine the number of full and partial shares of Merck Common Stock which such
amount would purchase at the closing price of the Common Stock on the New York Stock
Exchange on the Mandatory Deferral Date.

The Automatic Deferral Amount shall be used to determine the number of full and
partial shares of Merck Common Stock which such amount would purchase at the
closing price of the Common Stock on the New York Stock Exchange on the Automatic
Deferral Date.

That portion of the Voluntary Deferral Amount allocated to Merck Common Stock shall
be used to determine the number of full and partial shares of Merck Common Stock
which such amount would purchase at the closing price of the Common Stock on the
New York Stock Exchange on the applicable Voluntary Deferral Date.

However, should it be determined by the Committee on Corporate Governance of the
Board of Directors that a measurement of Merck Common Stock on any Mandatory,
Automatic or Voluntary Deferral Date would not constitute fair market value, then
the Committee shall decide on which date fair market value shall be determined
using the valuation method set forth in this Article III, Section A.1.

At no time during the deferral period will any shares of Merck Common Stock be
purchased or earmarked for such deferred amounts nor will any rights of a
shareholder exist with respect to such amounts.

	 	2.	 	Dividends. Each director’s account will be credited with the additional
number of full and partial shares of Merck Common Stock which would have been
purchasable with the dividends on shares previously credited to the account at the
closing price of the Common Stock on the New York Stock Exchange on the date each
dividend was paid.

	 	3.	 	Distributions. Distribution from the Merck Common Stock account will be
valued at the closing price of Merck Common Stock on the New York Stock Exchange on
the distribution date.

B. Mutual Funds

	 	1.	 	Initial Crediting. The amount allocated to each Mutual Fund shall be used to
determine the full and partial Mutual Fund shares which such amount would purchase at
the closing net asset value of the Mutual Fund shares on the Mandatory or Voluntary
Deferral Date, whichever is applicable. The director’s account will be credited with
the number of full and partial Mutual Fund shares so determined.

At no time during the deferral period will any Mutual Fund shares be purchased or
earmarked for such deferred amounts nor will any rights of a shareholder exist with
respect to such amounts.

	 	2.	 	Dividends. Each director’s account will be credited with the additional
number of full and partial Mutual Fund shares which would have been purchasable, at
the closing net asset value of the Mutual Fund shares as of the date each dividend is
paid on the Mutual Fund shares, with the dividends which would have been paid on the
number of shares previously credited to such account (including pro rata dividends on
any partial shares).

	 	3.	 	Distributions. Mutual Fund distributions will be valued based on the closing
net asset value of the Mutual Fund shares on the distribution date.

C. Adjustments

In the event of a reorganization, recapitalization, stock split, stock dividend,
combination of shares, merger, consolidation, rights offering or any other change
in the corporate structure or shares of the Company or a Mutual Fund, the number
and kind of shares or units of such investment measurement method available under
this Plan and credited to each director’s account shall be adjusted accordingly.

IV. REDESIGNATION WITHIN A DEFERRAL ACCOUNT

A. General

A director may request a change in the measurement methods used to value all or a
portion of his/her account other than Merck Common Stock. Amounts deferred using
the Merck Common Stock method and any earnings attributable to such deferrals may
not be redesignated. The change will be effective on (i) the day when the
redesignation request is received pursuant to administrative guidelines established
by the Human Resources Financial Services area of the Treasury department, provided
the request is received prior to the close of the New York Stock Exchange on such
day or (ii) the next following business day if the request is received when the New
York Stock Exchange is closed.

B. When Redesignation May Occur

	 	1.	 	During Active Service. There is no limit on the number of times a director
may redesignate the portion of his/her deferred account permitted to be redesignated.
Each such request shall be irrevocable and can be designated in whole percentages or
as a dollar amount.

	 	2.	 	After Death. Following the death of a director, the legal representative or
beneficiary of such director may redesignate subject to the same rules as for active
directors set forth in Article IV, Section B.1.

C. Valuation of Amounts to be Redesignated 

The portion of the director’s account to be redesignated will be valued at its cash
equivalent and such cash equivalent will be converted into shares or units of the
other measurement method(s). For purposes of such redesignations, the cash
equivalent of the value of the Mutual Fund shares shall be the closing net asset
value of such Mutual Fund on (i) the day when the redesignation request is received
pursuant to administrative guidelines established by the Human Resources Financial
Services area of the Treasury department, provided the request is received prior to
the close of the New York Stock Exchange on such day or (ii) the next following
business day if the request is received when the New York Stock Exchange is closed.

V. PAYMENT OF DEFERRED AMOUNTS

A. Payment

All payments to directors of amounts deferred will be in cash in accordance with
the distribution schedule elected by the director pursuant to Article II, Section
E. Distributions shall be pro rata by measurement method. Distributions shall be
valued on the fifteenth day of the distribution month (or, if such day is not a
business day, the next business day) and paid as soon thereafter as possible.

B. Changes to Distribution Schedule Prior to Termination

Upon the request of a director made at any time during the calendar year
immediately preceding the calendar year in which service as a director is expected
to terminate, the Committee on Corporate Governance of the Board of Directors (the
“Committee”), in its sole discretion, may authorize: (a) an extension of a payment
period beyond that originally elected by the director not to exceed that otherwise
allowable under Article II, Section E, and/or (b) a payment frequency different
from that originally elected by the director. Such request may not be made with
regard to amounts deferred after December 31, 1990 using the Merck Common Stock
method and to any earnings attributable to such deferrals. Deferrals into Merck
Common Stock made after December 31, 1990 and any earnings thereon may only be
distributed in accordance with the schedule elected by the director under Article
II, Section E or determined by the Committee on Corporate Governance under Article
VI.

C. Post-Termination Changes to Distribution Schedule

Following termination of service as a director, each director may make one request
for a further extension of the period for distribution of his/her deferred
compensation. Such request must be received by the Committee on Corporate
Governance prior to the first distribution to the participant under his/her
previously elected distribution schedule. Any revised distribution schedule may
not exceed the deferral period otherwise allowable under Article II, Section E.
This request may be granted and a new payment schedule determined in the sole
discretion of the Committee on Corporate Governance.

Such request may not be made with regard to amounts deferred after December 31,
1990 using the Merck Common Stock Method and to any earnings attributable to such
deferrals. Any retired director who is not subject to U.S. income tax may petition
the Committee on Corporate Governance to change payment frequency, including a lump
sum distribution, and the Committee on Corporate Governance may grant such petition
if, in its discretion, it considers there to be reasonable justification therefor.
Deferrals into Merck Common Stock made after December 30, 1990 and any earnings
thereon may only be distributed in accordance with the schedule elected by the
director under Article II, Section E or determined by the Committee on Corporate
Governance under Article VI.

D. Forfeitures

A director’s deferred amount attributable to the Mandatory Deferral Amount and
earnings thereon shall be forfeited upon his or her removal as a director or upon a
determination by the Committee on Corporate Governance in its sole discretion, that
a director has:

	 	(i)	 	joined the Board of, managed, operated, participated in a
material way in, entered employment with, performed consulting (or any other)
services for, or otherwise been connected in any material manner with a
company, corporation, enterprise, firm, limited partnership, partnership,
person, sole proprietorship or any other business entity determined by the
Committee on Corporate Governance in its sole discretion to be competitive
with the business of the Company, its subsidiaries or its affiliates (a
“Competitor”);

	 	(ii)	 	directly or indirectly acquired an equity interest of five
(5) percent or greater in a Competitor; or

	 	(iii)	 	disclosed any material trade secrets or other material
confidential information, including customer lists, relating to the Company or
to the business of the Company to others, including a Competitor.

VI. DESIGNATION OF BENEFICIARY

In the event of the death of a director, the deferred amount at the date of death
shall be paid to the last named beneficiary or beneficiaries designated by the director,
or, if no beneficiary has been designated, to the director’s legal representative, in one
or more installments as the Committee on Corporate Governance in its sole discretion may
determine.

VII. PLAN AMENDMENT OR TERMINATION

The Committee on Corporate Governance shall have the right to amend or terminate this
Plan at any time for any reason.

3

SCHEDULE A

MEASUREMENT METHODS

(January 1, 2002 – January 10, 2003)

Merck Common Stock

Mutual Funds

American Century Emerging Markets Fund

American Century Europacific Growth Fund

Fidelity Destiny I

Fidelity Dividend Growth

Fidelity Equity Income Fund

Fidelity Low-Priced Stock Fund

Fidelity Retirement Money Market

Fidelity Spartan Government Income

Fidelity Spartan U.S. Equity Index

Franklin Small-Mid Cap Growth A

Janus Enterprise

Janus Growth & Income

Liberty Acorn Z

PIMCO Foreign Bond Institutional

PIMCO Long Term US Government Institutional

PIMCO Total Return Institutional

Putnam Global Equity Fund A*

Putnam International Voyager A

Putnam Vista A

T. Rowe Price Blue Chip Growth Fund

Vanguard Asset Allocation

* From September 20, 2002 — September 30, 2002, this investment was briefly named the
Putnam Global Growth Fund A as a result of the merger, in September 2002, of Putnam Global
Equity Fund A with Putnam Global Growth Fund A. The merged fund briefly retained the name
“Putnam Global Growth Fund A.” Effective October 1, 2002, the merged fund changed its name
to “Putnam Global Equity Fund A.”

4

SCHEDULE A

MEASUREMENT METHODS

(Effective January 11, 2003 to July 31, 2003)

Merck Common Stock

Mutual Funds

American Century Emerging Markets Institutional

American Funds EuroPacific Growth Fund

Fidelity Destiny I

Fidelity Dividend Growth

Fidelity Equity-Income

Fidelity Low-Priced Stock

Fidelity Retirement Money Market

Fidelity Spartan Government Income

Fidelity Spartan U.S. Equity Index

Franklin Small-Mid Cap Growth A

Janus Enterprise

Janus Growth & Income

Liberty Acorn Class Z

PIMCO Foreign Bond Institutional

PIMCO Long Term US Government Institutional

PIMCO Total Return Institutional

Putnam Global Equity A

Putnam International Capital Opportunities Fund A*

Putnam Vista A

T. Rowe Price Blue Chip Growth

Vanguard Asset Allocation

• Prior to April 30, 2003, known as Putnam International Voyager Fund A

Redesignation of Deferred Amounts measured by Putnam Vista A on July 31, 2003

Prior to 4 p.m. ET on July 31, 2003, each participant who has any part of his/her account measured
by the Putnam Vista A measurement method may redesignate the amount in such measurement method in
accordance with Article IV. If a participant does not redesignate the amount measured by the
Putnam Vista A measurement method to any other remaining measurement method before 4 p.m. ET on
July 31, 2003, then the amount in the Putnam Vista A account shall be redesignated as of 4 p.m. ET
on July 31, 2003, to the Fidelity Mid-Cap Stock Fund.

5

SCHEDULE A

MEASUREMENT METHODS

(Effective July 31, 2003 – November 19, 2003)

Merck Common Stock

Mutual Funds

American Century Emerging Markets Institutional

American Funds EuroPacific Growth Fund

Columbia Acorn Class Z*

Fidelity Destiny I

Fidelity Dividend Growth

Fidelity Equity-Income

Fidelity Low-Priced Stock

Fidelity Mid-Cap Stock Fund

Fidelity Retirement Money Market

Fidelity Spartan Government Income

Fidelity Spartan U.S. Equity Index

Franklin Small-Mid Cap Growth A

Janus Enterprise

Janus Growth & Income

PIMCO Foreign Bond Institutional

PIMCO Long Term US Government Institutional

PIMCO Total Return Institutional

Putnam Global Equity A

Putnam International Capital Opportunities Fund A**

T. Rowe Price Blue Chip Growth

Vanguard Asset Allocation

* Prior to October 2003, known as Liberty Acorn Class Z

** Prior to April 30, 2003, known as Putnam International Voyager Fund A

Redesignation of Deferred Amounts measured by Putnam Global Equity A and Putnam International
Capital Opportunities Fund A (collectively, the “Putnam Funds”) on November 19, 2003

Prior to 4 p.m. ET on November 19, 2003, each participant who has any part of his/her Deferred
Compensation Account measured by a Putnam Funds investment alternative may redesignate the amount
in such investment alternative in accordance with Article IV. If a participant does not
redesignate the amount measured by a Putnam Funds investment alternative to any other remaining
investment alternative(s) before 4 p.m. ET on November 19, 2003, then the amount in the Putnam
Funds investment alternative shall be redesignated as of 4 p.m. ET on November 19, 2003, to the
Fidelity Retirement Money Market Portfolio.

6

SCHEDULE A

MEASUREMENT METHODS

(November 19, 2003 to April 2, 2004)

Merck Common Stock

Mutual Funds

American Century Emerging Markets Institutional

American Funds EuroPacific Growth Fund

Columbia Acorn Class Z*

Fidelity Destiny I

Fidelity Dividend Growth

Fidelity Equity-Income

Fidelity Low-Priced Stock

Fidelity Mid-Cap Stock Fund

Fidelity Retirement Money Market

Fidelity Spartan Government Income

Fidelity Spartan U.S. Equity Index

Franklin Small-Mid Cap Growth A

Janus Enterprise

Janus Growth & Income

PIMCO Foreign Bond Institutional

PIMCO Long Term US Government Institutional

PIMCO Total Return Institutional

T. Rowe Price Blue Chip Growth

Vanguard Asset Allocation

• Prior to October 2003, known as Liberty Acorn Class Z

7

SCHEDULE A

MEASUREMENT METHODS

(April 2, 2004 through January 31, 2005)

Merck Common Stock

Mutual Funds

American Century Emerging Markets Institutional

American Funds EuroPacific Growth Fund

Columbia Acorn Class Z*

Fidelity Destiny I

Fidelity Dividend Growth

Fidelity Equity-Income

Fidelity Low-Priced Stock

Fidelity Mid-Cap Stock Fund

Fidelity Retirement Money Market

Fidelity Spartan Government Income

Fidelity Spartan U.S. Equity Index

Janus Enterprise

Janus Growth & Income

PIMCO Foreign Bond Institutional

PIMCO Long Term US Government Institutional

PIMCO Total Return Institutional

T. Rowe Price Blue Chip Growth

Vanguard Asset Allocation

• Prior to October 2003, known as Liberty Acorn Class Z

8

SCHEDULE A

MEASUREMENT METHODS

(February 1, 2005)

Investment alternatives available under this Plan shall be the same as the investment alternatives
available from time to time under the Merck & Co., Inc. Deferral Program.

9

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