Document:

EX-10.48

 Exhibit 10.48 

GENWORTH FINANCIAL, INC. 

RETIREMENT AND SAVINGS RESTORATION PLAN 

(As Amended and Restated Effective January 1, 2016) 

 INTRODUCTION 

Effective September 27, 2005, Genworth Financial, Inc. established the Genworth Financial, Inc. Retirement and Savings Restoration Plan
as a non-qualified deferred compensation plan established and maintained solely for the purpose of providing a select group of highly-compensated and management employees with Company Contribution Credits that they are precluded from receiving under
the Genworth Financial, Inc. Retirement and Savings Plan as a result of limitations imposed under Internal Revenue Code Sections 401(a)(17) and 415. The Plan has been amended from time to time and was most recently amended and restated effective as
of April 1, 2012 (the “Prior Plan”). Effective January 1, 2016, the Plan has been further amended and restated as set forth in this document. 

The Genworth Financial, Inc. Board of Directors has determined that the benefits to be paid under this Plan constitute reasonable compensation
for the services rendered and to be rendered by eligible employees. 
 The Plan shall be unfunded for tax purposes and for purposes of Title
I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). The Plan is
intended to be a “top-hat” plan within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1) and shall be administered and interpreted to the extent possible in a manner consistent with that intent. 

SECTION I 
 DEFINITIONS 

Whenever used in the Plan, the following terms shall have the meanings set forth below unless otherwise expressly provided. Wherever used, the
masculine pronoun shall be deemed to refer either to a male or female, and the singular shall be deemed to refer to the singular or plural, as appropriate by context. 

1.1 Account. The bookkeeping account maintained under the Plan for each Participant by the Company to record his Company Contribution
Credits plus earnings and losses thereon. 
 1.2 Beneficiary. The person(s) or entity designated by the Participant to receive his
benefits under the Plan in the event of his death. 
 1.3 Code. Internal Revenue Code of 1986, as amended. A reference to a
particular Code Section shall include a reference to any regulation issued under the Section. 

  
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 1.4 Committee. The Benefits Committee appointed by the Board to be responsible for the
Plan and its administration. 
 1.5 Company. Genworth Financial, Inc. 

1.6 Company Contribution Credits. Contribution amounts credited to a Participant’s Account pursuant to Section 3.1. 

1.7 Compensation. Eligible Pay as defined in the Qualified Plan in excess of the Code Section 401(a)(17) limits paid to an
Eligible Employee by the Company during each calendar year. Effective January 1, 2011, Compensation shall mean Eligible Pay as defined in the Qualified Plan in excess of the Code Section 401(a)(17) limits paid to an Eligible Employee by
the Company during each calendar year, except that Compensation under this Plan shall include amounts of deferred salaries and deferred VIC under any plan sponsored by the Company. In other words, effective January 1, 2011, deferred salaries
and deferred VIC (meaning salaries or VIC deferred under a nonqualified deferred compensation plan sponsored by the Company) shall be counted when determining Compensation under this Plan for all purposes, including for purposes of
Section 3.1(c). Deferred salaries and deferred VIC are included in Compensation in the year in which the salary or VIC was paid, regardless of the year in which such deferred compensation is earned. For clarity, payments received under a
non-qualified deferred compensation plan sponsored by the Company will not be included in Compensation. 
 1.8 Effective Date.
January 1, 2016, the date of the Plan’s amendment and restatement. 
 1.9 Employee. A person receiving eligible pay from
the Company or an affiliate that participates in the Plan. 
 1.10 Participant. An Executive Employee who: 

 

	 	(i)	is assigned to salary band 1 or grade J and above by the Company; and 

  

	 	(ii)	has contributions under the Qualified Plan limited because of Code Section 401(a)(17) or Code Section 415, as adjusted from time to time. 

Executive Employees who accrued a benefit in the Genworth Financial, Inc. Retained Executive Pension Plan on or after December 31, 2009
and who, on or after January 1, 2010, are promoted to salary band 1 or grade J and above shall be a Participant under this Plan, but only for purposes of the 401(k) Restoration benefits described in Section 3.1(a) and not for benefits
described under Sections 3.1(b) or 3.1(c), except as described in those sections. Executive Employees who accrued a benefit in the Genworth Financial, Inc. Supplemental Executive Retirement Plan on or after September 26, 2005, shall be a
Participant under this Plan, but only for purposes of the 401(k) Restoration benefits described in Section 3.1(a) and not for benefits described under Sections 3.1(b) or 3.1(c), except as described in those sections. 

  
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 1.11 Plan. The Genworth Financial, Inc. Retirement and Savings Restoration Plan. 

1.12 Plan Year. The calendar year. 

1.13 Post-2015 Vesting Service. Post-2015 Vesting Service means the elapsed time of employment with the Company, expressed in years and
months, beginning on January 1, 2016 or the Employee’s date of hire, if later, and ending upon the earlier of (i) the Employee’s separation from service, or (ii) the date the Employee is no longer a Participant. Post-2015
Vesting Service specifically excludes any Vesting Service attained by any Participant prior to January 1, 2016. 
 1.14 Qualified
Plan. The Genworth Financial, Inc. Retirement and Savings Plan, as amended from time to time. 
 1.15 Vesting Service. Vesting
Service means the elapsed time of employment with the Company, expressed in years and months, beginning on September 27, 2005 or the Employee’s date of hire, if later, and ending upon the earlier of (i) the Employee’s separation
from service, or (ii) the date the Employee is no longer a Participant. Vesting Service includes any period of time when a Participant is on a leave of absence approved by the Company. In addition to service with the Company as described above,
Vesting Service shall include the elapsed time of employment with the Company, General Electric Company (“GE”) or GEFA as of September 27, 2005 if such service was recognized by GE on September 27, 2005. The Committee may grant
additional periods of Vesting Service for service with the Company or with another employer through Committee resolutions approving the Employee’s participation in the Plan. 

1.16 VIC. Also known as “Variable Incentive Compensation,” VIC is additional variable compensation earned and paid when
certain individual and/or business metrics are achieved. VIC is included in Compensation during the year when the VIC is paid, regardless of the year in which it is earned. 

SECTION II 

ELIGIBILITY/PARTICIPATION 
 2.1
In General. An eligible executive Employee shall become a Participant in the Plan as of the date he has contributions under the Qualified Plan limited because of Code Section 401(a)(17) or Code Section 415. The Committee shall have
sole discretion in determining an Employee’s eligibility for and inclusion in this Plan. 
 2.2 Termination of Participation.
Contributions shall cease upon a Participant’s separation from service or if the Participant ceases to be an eligible Employee. Notwithstanding the foregoing, a vested Participant who has separated from service shall remain a Participant (until
all of his Plan benefits have been paid) for purposes of his rights to his vested account balance, but shall not be eligible to earn any additional benefits under the Plan following his separation from service. 

  
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 2.3 Change in Status. If a Participant ceases to be an eligible Employee but continues to
be employed by the Company, then Company Contribution Credits on his behalf under this Plan shall be suspended. 
 2.4 Impact of return
to Executive Employee / salary band 1 or grade J and above status. Notwithstanding any other provisions of this Plan to the contrary, any Employee who previously had participated in the Plan as a Participant, will again become eligible to earn
benefits under the Plan upon re-promotion / return to salary band 1 or grade J and above status after December 31, 2015 and shall be eligible for Company Contribution Credits described in Section 3.1, as appropriate. For the avoidance of
doubt, the preceding sentence shall also apply to Employees localized outside the United States. 
 SECTION III 

RESTORATION AND SUPPLEMENTAL BENEFITS 

3.1 Company Contribution Credits. 

(a) 401(k) Restoration. Each active Participant shall be credited for each Plan Year with a 401(k) Restoration
contribution. The amount of the 401(k) Restoration contribution shall be as follows: 
 (i) For Plan Years beginning on or
before January 1, 2016, an amount equal to six percent (6%) of such Participant’s Compensation for the Plan Year. 

(ii) For Plan Years beginning on or after January 1, 2017, an amount equal to five percent (5%) of such
Participant’s Compensation for the Plan Year. 
 (b) Retirement Contribution Restoration. 

(i) In general, each active Participant who is not accruing a benefit under the Genworth Financial, Inc. Supplemental Executive
Retirement Plan or the Genworth Financial, Inc. Retained Executive Pension Plan and either (i) is hired or rehired on or after January 1, 2010, or (ii) is promoted or re-promoted to salary band 1 or grade J and above by the Company on
or after January 1, 2010 shall be credited for each Plan Year with the amount of company supplemental contributions under Section 3.6 of the Qualified Plan that were reduced due to the Code 401(a)(17) or 415 limits. Participants who were
participants in the Genworth Financial, Inc. Retained Executive Pension Plan as of December 31, 2009 and who are promoted to salary band 1 or grade J and above on or after January 1, 2010, shall not be eligible for the Retirement
Contribution Restoration benefits described in this sub-section (b). For clarity, the amount of company supplemental contributions under Section 3.6 of the Qualified Plan relate to all aspects of 3.6 A. i, ii and iii as applicable and are
considered herein if reduced due to the Code 401(a)(17) or 415 limits. 

  
 4 

 (ii) Effective January 1, 2016, and notwithstanding any other provision of
the Plan, Early Freeze Participants shall be eligible for the Retirement Contribution Restoration benefits described in this sub-section (b). For purposes of this paragraph, an Early Freeze Participant is an active Participant who, prior to
January 1, 2016 was accruing a benefit under the Genworth Financial, Inc. Supplemental Executive Retirement Plan and who made an irrevocable, one-time election to freeze his or her benefit accrual under the Genworth Financial, Inc. Supplemental
Executive Retirement Plan effective December 31, 2015 in accordance with the terms of Section 11 of such plan and in accordance with the procedures set forth by the Committee. 

(iii) Effective January 1, 2017, active Participants who previously accrued a benefit under the Genworth Financial, Inc.
Retained Executive Pension Plan but whose benefit accrual under such plan was frozen effective December 31, 2016 shall become eligible for the Retirement Contribution Restoration benefits described in this sub-section (b). 

(iv) Effective January 1, 2021, active Participants employed at salary band 1 or grade J or above who previously accrued
benefits under the Genworth Financial, Inc. Supplemental Executive Retirement Plan and whose benefit accrual under such plan was frozen effective December 31, 2020 shall become eligible for the Retirement Contribution Restoration benefits
described in this sub-section (b). 
 (c) Supplemental Benefits. In general, each active Participant who (i) has
not accrued a benefit under the Genworth Financial, Inc. Supplemental Executive Retirement Plan and (ii) is considered an appointed officer of the Company on or after January 1, 2010 and is either (A) hired or rehired on or after
January 1, 2010 but no later than December 31, 2015, or (B) promoted or re-promoted to salary band 1 or grade J and above by the Company on or after January 1, 2010 but no later than December 31, 2015 shall be credited for
each Plan Year with a supplemental benefit contribution equal to three percent (3%) of such Participant’s Compensation for the Plan Year. For purposes of these Supplemental Benefits only, the term Compensation shall be based on all
Eligible Pay as defined in the Qualified Plan (i.e. not limited to just Eligible Pay above the Code Section 401(a)(17) limits). Participants who were accruing benefits under the Genworth Financial, Inc. Retained Executive Pension Plan as of
December 31, 2009 and who are promoted to salary band 1 or grade J or above on or after January 1, 2010, shall not be eligible for the Supplemental Benefits described in this sub-section (c). Notwithstanding the foregoing, no supplemental
benefit contributions shall be credited for any Participants for any year beginning on or after January 1, 2021. 

  
 5 

 Each Participant shall become 100% vested in his Supplemental Benefits under this sub-section
(c) upon the attainment of age 60 and 5 years of Vesting Service, or upon the Participant’s death, disability, or executive separations as approved by the Company’s Management Development and Compensation Committee (“MDCC”).
For purposes of this Section, disability will be determined in accordance with the Company’s long-term disability plan and, subject to the Committee’s discretion, full vesting shall occur upon a Participant’s separation from service
as a result of exceeding “Protected Service” as defined in the Company’s long-term disability plan. Notwithstanding the foregoing, a Participant shall become 100% vested in his Supplemental Benefits (as described in this sub-section
(c) upon a “Qualified Termination” following a Change of Control, as defined in the Genworth Financial, Inc. 2014 Change of Control Plan (or any successor plan) as may be amended from time to time. In the event of a business
disposition, as determined by the Committee, the Committee may provide that any Participant terminated due to a given disposition shall become 100% vested, notwithstanding the Participant’s age and Vesting Service, provided he or she was an
eligible Employee with a minimum of ten years of Vesting Service as of the preceding December 31 and satisfies any other conditions established by the Committee with respect to a given business disposition. 

If the Committee or MDCC determines in accordance with this Section 3.1(c) to accelerate the vesting of any benefit under the Plan, any
such accelerated vesting will be subject to such additional conditions and restrictions as the Committee or MDCC may require, including the requirement that a Participant execute a release of claims (“Release”) (the form of which shall be
approved by the Committee) in consideration for the accelerated vesting. In the event that a Release is required, such Release must be executed, and any time for consideration or revocation of the Release (the “Consideration Period”) must
have expired within the time specified by the Committee or else any accelerated vesting or any other benefit contingent upon such Release shall be forfeited. 

If a payment under the Plan in accordance with Section V becomes payable during the Consideration Period for a Release and if such
Consideration period begins in one calendar year and extends into the subsequent calendar year, then any payment of benefits under the Plan will be delayed until the end of such Consideration Period or, if earlier, until after the start of the
subsequent calendar year. 
 3.2 Timing of Company Contribution Credits. Within 90 days following the end of the Plan Year, each
active Participant’s Account will be credited with Company Contribution Credits as provided in Section 3.1 above. Company Contribution Credits will be discontinued while a Participant is on long-term disability or if a Participant is
receiving severance payments. 
 3.3 Participant Contributions. A Participant is not required or permitted to make contributions to
the Plan. 
 3.4 Vesting. Except for special vesting rules that apply to Supplemental Benefits described in Section 3.1(c)
above, effective January 1, 2016, each Participant shall become 100% vested in his Account upon the earlier of (i) Age 60 or (ii) completion of three years of Post-2015 Vesting Service, or (iii) disability, death or executive
separations as approved by the Company’s Management Development and Compensation Committee (“MDCC”). If the Participant 

  
 6 

 
terminates employment with the Company or an affiliate before becoming 100% vested for any reason other than death, disability or executive separations as approved by the Company’s MDCC, his
Account will be forfeited. For purposes of this Plan, disability will be determined in accordance with the Company’s long-term disability plan, and, subject to the Committee’s discretion, full vesting shall occur upon a Participant’s
separation from service as a result of exceeding “Protected Service” as defined in the Company’s long-term disability plan. Notwithstanding the foregoing, a Participant shall become 100% vested in his Account upon a “Qualified
Termination” following a Change of Control, as defined in the Genworth Financial, Inc. 2014 Change of Control Plan (or its successors) as may be amended from time to time. In the event of a business disposition, as determined by the Committee,
the Committee may provide that any Participant terminated due to a given disposition shall become 100% vested, notwithstanding the Participant’s age, provided he or she was an eligible Employee with a minimum of ten years of Vesting Service as
of the preceding December 31 and satisfies any other conditions established by the Committee with respect to a given business disposition. 

If the Committee or MDCC determines in accordance with this Section 3.4 to accelerate the vesting of any benefit under the Plan, any such
accelerated vesting will be subject to such additional conditions and restrictions as the Committee or MDCC may require, including the requirement that a Participant execute a Release (the form of which shall be approved by the Committee) in
consideration for the accelerated vesting. In the event that a Release is required, such Release must be executed, and the Consideration Period must have expired within the time specified by the Committee or else any accelerated vesting or any other
benefit contingent upon such Release shall be forfeited. 
 If a payment under the Plan in accordance with Section V becomes payable during
the Consideration Period for a Release and if such Consideration Period begins in one calendar year and extends into the subsequent calendar year, then any payment of benefits under the Plan will be delayed until the end of such Consideration Period
or, if earlier, until after the start of the subsequent calendar year. 
 3.5 Earnings on Accounts. The rate of return credited to
each Participant’s Account will be reasonable and shall mirror the rate of return based on one or more of the investment options offered under the Qualified Plan, as determined by the Committee. Earnings (or losses) shall be credited to each
Participant’s Account during each year or part thereof commencing on the date the Account is established and ending, as soon as administratively feasible following a Participant’s separation from service for all separations from service
occurring on or prior to December 31, 2010. For any separation from service occurring on or after January 1, 2011, earnings (or losses) shall be credited to each Participant’s Account during each year or part thereof, commencing on
the date the Account is established and ending on the date the Participant’s Account has been paid in full in accordance with Section 5.2. 

The Committee may, but is not required to, select from time to time, in its sole and absolute discretion, commercially available investment
funds to be used to determine the amount of earnings or losses to be credited to the Participant’s Accounts. These investment funds will generally operate as “phantom” investment funds unless actual investment funds are established
pursuant to a trust as described in Section 10.1. If treated as “phantom” investment funds, no actual investments will be made. 

  
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 If the Committee establishes “phantom” investment funds or funds the plan through a
trust as described in Section 10.1, the Committee shall establish procedures and forms to allow Participants to designate the investment fund or funds in which the Participant’s Account will be deemed to be invested for purposes of
determining the amount of earnings or losses to be allocated to that Account. The Participant may specify the deemed investment, in whole percentage increments, in one or more of the investment funds as communicated from time to time by the
Committee. However, the Committee or its delegate may override such request from a Participant and, if so, the Committee or its delegate may allocate the funds in a different manner. Participants may change his or her investment designation by
filing a change of election and making a new designation with the Committee at such time and in such manner as provided by the Committee. 

Notwithstanding any other provision of the Plan that may be interpreted to the contrary, the investment funds selected by the Committee or
designation of investment funds by a Participant shall not be considered or construed in any manner as an actual investment of the Participant’s Account Balance in any such investment fund unless actual investment fund investments are
established pursuant to a trust as described in Section 10.1. In the event that the Company or the Trustee, in its sole and absolute discretion, shall invest funds in any or all of the selected investment funds, no Participant shall have any
rights in or to such investments. Without limiting the foregoing, a Participant’s Account shall at all times be a bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company or the Trust; the
Participant shall remain at all times an unsecured creditor of the Company. 
 3.6 Benefits to Minors and Incompetents. 

(a) If any person entitled to receive payment under the Plan is a minor, the Company shall pay the amount directly to the
minor, to a guardian of the minor, or to a custodian selected by the Company under the appropriate Uniform Transfers to Minors Act. 

(b) If a person who is entitled to receive payment under the Plan is physically or mentally incapable of personally receiving
and giving a valid receipt for any payment due (unless a previous claim has been made by a duly qualified committee or other legal representative), the payment may be made to the person’s spouse, son, daughter, parent, brother, sister or other
person deemed by the Company to have incurred expense for the person otherwise entitled to payment. The Company may not be compelled to select any method that it does not deem to be in the best interest of the distributees. 

  
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 SECTION IV 

PARTICIPANT ACCOUNTS 
 4.1
Participant Accounts. The Company shall maintain, or cause to be maintained, records for each Participant showing the amounts credited from time to time to his Account. 

SECTION V 
 PAYMENT OF RESTORATION
BENEFITS 
 5.1 Commencement of Benefits. 

(a) Benefits under this Plan shall commence within 90 days following the later of the Participant’s attainment of age 60
or separation from service with the Company or an affiliate, but for “specified employees” as defined under Code Section 409A, in no event shall benefits commence earlier than six months following such Participant’s separation
from service date. 
 (b) If, prior to the commencement of benefits under (a) above, a Participant dies, the
Participant’s benefits shall be paid to the Participant’s Beneficiary within 90 days following the Participant’s death. The six-month delay period for “specified employees” as described in (a) above will not apply in
the event of death of the Participant. 
 (c) If, prior to the commencement of benefits under (a) above, a Participant
becomes disabled, determined in accordance with the Company’s long-term disability plan, the Participant’s benefits shall commence upon separation from service as a result of exceeding Protected Service as defined in the Company’s
Long Term Disability Plan. 
 (d) If a payment under the Plan becomes payable during a Consideration Period for a Release, as
described in Sections 3.1(c) or 3.4, the timing of such payment shall be governed by the provisions set forth in Sections 3.1(c) or 3.4. 

5.2 Method of Payment. 
  

	 	(a)	Subject to (b) below, the Participant’s Account shall be distributed to him (or his Beneficiary, if applicable) in substantially equivalent annual installment payments over a ten-year period. Effective for any
separation from service or commencement of benefits under Section 5.1 that occurs on or prior to December 31, 2010, the Participant’s Account balance will not remain subject to market risk associated with the mirrored investment
options as described in Section 3.5 during the ten-year installment payment period. Effective for any separation from service or commencement of benefits under Section 5.1 that occurs on or after January 1, 2011, earnings shall
continue to accrue on any remaining balance in the Participant’s Account for each year or part thereof during the ten-year installment payment period in the manner provided for in Section 3.5. 

  
 9 

	 	(b)	If, as of the day following the annual Company Contribution Credits described in Section III immediately preceding his separation from service date, the Participant’s Account balance is less than $50,000, his
benefit shall be distributed to him (or his beneficiary, if applicable) in a lump sum in cash. Subject to the provisions of this Section, the Participant will receive an initial distribution of his Account balance within 90 days following his
separation from service date on or after attaining age 60, based upon his Account balance as of the most recent annual Company Contribution Credits described in Section III and then a subsequent final distribution within 90 days following the final
Company Contribution Credit for the Participant’s partial year of employment up to his separation from service date (final eligibility period). 

SECTION VI 
 BENEFICIARY 

6.1 Designation of Beneficiary. A Participant may, in the manner determined by the Committee, designate a Beneficiary and one or more
contingent Beneficiaries to receive any benefits which may be payable under the Plan upon his death. A Participant may revoke or change any designation made under this Section 6.1 in the manner determined by the Committee. If a Participant
fails to designate a Beneficiary, the payment of benefits under the Plan on account of his death shall be governed by the beneficiary elections designated by the Participant under the Qualified Plan. If no designation has been made under the
Qualified Plan, benefits will be paid to the Participant’s spouse, if married, or to his estate, if single. 
 SECTION VII 

TAXES 
 7.1 Withholding
Taxes. Benefits paid under the Plan may be subject to federal, state and local income and payroll taxes. The Committee shall arrange for all such taxes to be paid in the manner required by law. The Participant’s share of Social Security and
Medicare (“FICA”) taxes will be calculated proximate to the separation from service date and paid by deducting such amounts from a Participant’s regular pay, if any. If no regular pay is available to pay FICA taxes due, such taxes
will be deducted from any payments made under the Plan. If no payments are being made from which FICA taxes may be deducted, the Participant agrees to remit such taxes to the Company upon request. The company reserves the right to offset all unpaid
taxes against the interest of a Participant under the Plan. 

  
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 SECTION VIII 

ADMINISTRATION 
 8.1
Administration. This Plan shall be administered by the Committee, which shall have complete authority in its sole discretion to make, amend, interpret and enforce rules and regulations for the administration of this Plan and decide or resolve
in its sole discretion any and all questions which may arise in connection with this Plan. The Committee may delegate certain of its duties to one or more Employees or to a separate committee appointed by the Committee. 

8.2 Employment of Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them
such administrative duties as it sees fit and may, from time to time, consult with counsel, including counsel to the Company. 
 8.3
Decisions. The decision or action of the Committee in respect of any question arising out of or in connection with the administration, interpretation and application of this Plan and the rules and regulations hereunder shall be final and
conclusive and binding upon all persons having any interest in this Plan. 
 SECTION IX 

AMENDMENT AND TERMINATION 
 9.1
Amendment or Termination. The Committee reserves the right, by written resolution, to amend, modify or terminate, either retroactively or prospectively, any or all of the provisions of this Plan, provided such amendment or termination
complies with Code Section 409A; provided, however, that no such action on its part shall adversely affect the rights of a Participant, or beneficiaries without the consent of such Participant (or beneficiaries, if the Participant is deceased)
with respect to any benefits accrued under this Plan prior to the date of such amendment, modification or termination of the Plan if the Participant has at that time a non-forfeitable right to benefits under Section 3.3 of this Plan. 

  
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 SECTION X 

GENERAL CONDITIONS 
 10.1
Funding. The benefits payable under this Plan shall be paid by the Company out of its general assets and shall not be funded in any manner. The obligations that the Company incurs under this Plan shall be subject to the claims of the
Company’s other creditors having priority as to the Company’s assets. 
 The Company may (but is not required to) establish one or
more Trusts to which the Company may transfer such assets as the Company determines in its sole discretion to assist in meeting its obligations under the Plan. If a trust is established under the Plan, it is intended that the transfer of assets into
the trust will not generate taxable income (for federal income tax purposes) to the Participants until such assets are actually distributed or otherwise made available to the Participants. The provisions of the Plan shall govern the rights of a
Participant to receive distributions pursuant to the Plan. The provisions of the Trust shall govern the rights of the Company, Participants and the creditors of the Company to the assets transferred to the Trust. The Company’s obligations under
the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust, and any such distribution shall reduce the Company’s obligations under the Plan. 

10.2 Assignment. Except as to withholding of any tax under the laws of the United States or any state or locality, no benefit
payable at any time hereunder shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment or other legal process, or encumbrance of any kind. Any attempt to alienate, sell, transfer, assign, pledge or otherwise
encumber any such benefit, whether currently or thereafter payable hereunder, shall be void. 
 10.3 No Contract of Employment. No
employee and no other person shall have any legal or equitable rights or interest in this Plan that are not expressly granted in this Plan. Participation in this Plan does not give any person any right to be retained in the employment of the
Company. The right and power of the Company to dismiss or discharge any employee is expressly reserved. 
 10.4 Terms. All terms used
in this Plan which are defined in the Qualified Plan shall have the same meaning herein as therein, unless otherwise expressly provided in this Plan. 

10.5 Plan Provisions Govern. The rights under this Plan of a Participant who leaves the employment of the Company at any time and the
rights of anyone entitled to receive any payments under this Plan by reason of the death of such Participant, shall be governed by the provisions of this Plan in effect on the date such Participant leaves the employment of the Company, except as
otherwise specifically provided in this Plan. 
 10.6 Governing Law. The law of the Commonwealth of Virginia shall govern the
construction and administration of this Plan, to the extent not pre-empted by federal law. 

  
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 10.7 Compliance with Code Section 409A. To the extent applicable, this Plan is
intended to comply with Section 409A of the Code, and the Committee shall interpret and administer the Plan in accordance therewith. In addition, any provision, including, without limitation, any definition, in this Plan document that is
determined to violate the requirements of Section 409A of the Code shall be void and without effect and any provision, including, without limitation, any definition, that is required to appear in this Plan document under Section 409A of
the Code that is not expressly set forth shall be deemed to be set forth herein, and the Plan shall be administered in all respects as if such provisions were expressly set forth. In addition, the timing of certain payment of benefits provided for
under this Plan shall be revised as necessary for compliance with Section 409A of the Code. 

  
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 SIGNATURE PAGE 

As evidence of its adoption of the Genworth Financial, Inc. Retirement and Savings Restoration Plan, the Committee, as authorized by the
Benefits Committee of the Company, has caused this document to be executed by a duly authorized officer. 
  

			
	GENWORTH FINANCIAL, INC.
		
	By:	 	/s/ Michael S. Laming
		 	Senior Vice President – Human Resources

  
 14EX-10.49

 Exhibit 10.49 

GENWORTH FINANCIAL, INC. 

DEFERRED COMPENSATION PLAN 

(As Amended and Restated Effective January 1, 2016) 

 GENWORTH FINANCIAL, INC. 

DEFERRED COMPENSATION PLAN 

(As Amended and Restated Effective January 1, 2016) 

TABLE OF CONTENTS 
  

									
		  	 Preamble
	  		  	 	1	  
		
	 ARTICLE 1 REFERENCES, CONSTRUCTION AND DEFINITIONS
	  	 	2	  
		  	 1.1
	  	 Account
	  	 	2	  
		  	 1.2
	  	 Adjustment Date
	  	 	2	  
		  	 1.3
	  	 Affiliate
	  	 	2	  
		  	 1.4
	  	 Authorized Leave of Absence
	  	 	2	  
		  	 1.5
	  	 Beneficiary
	  	 	2	  
		  	 1.6
	  	 Board
	  	 	2	  
		  	 1.7
	  	 Bonus
	  	 	2	  
		  	 1.8
	  	 Bonus Deferral Election
	  	 	3	  
		  	 1.9
	  	 Cause
	  	 	3	  
		  	 1.10
	  	 Code
	  	 	3	  
		  	 1.11
	  	 Committee
	  	 	3	  
		  	 1.12
	  	 Company
	  	 	3	  
		  	 1.13
	  	 Compensation
	  	 	3	  
		  	 1.14
	  	 Deferrals
	  	 	3	  
		  	 1.15
	  	 Effective Date
	  	 	3	  
		  	 1.16
	  	 Employee
	  	 	3	  
		  	 1.17
	  	 ERISA
	  	 	3	  
		  	 1.18
	  	 Participant
	  	 	3	  
		  	 1.19
	  	 Participating Company
	  	 	4	  
		  	 1.20
	  	 Plan
	  	 	4	  
		  	 1.21
	  	 Plan Administrator
	  	 	4	  
		  	 1.22
	  	 Plan Year
	  	 	4	  
		  	 1.23
	  	 Salary
	  	 	4	  
		  	 1.24
	  	 Salary Deferral Election
	  	 	4	  
		  	 1.25
	  	 Service
	  	 	4	  
		  	 1.26
	  	 Surviving Spouse
	  	 	4	  
		  	 1.27
	  	 Termination of Employment
	  	 	4	  
		
	 ARTICLE 2 ELIGIBILITY AND PARTICIPATION
	  	 	5	  
		  	 2.1
	  	 Eligibility
	  	 	5	  
		  	 2.2
	  	 Participation
	  	 	5	  
		  	 2.3
	  	 Duration of Participation
	  	 	5	  
		
	 ARTICLE 3 ACCUMULATION OF PLAN BENEFITS
	  	 	6	  
		  	 3.1
	  	 Deferral Elections
	  	 	6	  
		  	 3.2
	  	 Deferral Investments and Deemed Earnings
	  	 	8	  

									
	 ARTICLE 4 DISTRIBUTION OF BENEFITS
	  	 	10	  
		  	 4.1
	  	 Termination Benefit
	  	 	10	  
		  	 4.2
	  	 Specified Plan Year Benefit
	  	 	11	  
		  	 4.3
	  	 Subsequent Elections
	  	 	11	  
		  	 4.4
	  	 Special Distribution Election
	  	 	11	  
		  	 4.5
	  	 Death
	  	 	12	  
		  	 4.6
	  	 Payment of Plan Benefits Upon Termination for Cause
	  	 	12	  
		  	 4.7
	  	 Distributions to Key Employees
	  	 	12	  
		  	 4.8
	  	 Reemployment
	  	 	12	  
		  	 4.9
	  	 Facility of Payment
	  	 	12	  
		
	 ARTICLE 5 UNFORESEEABLE EMERGENCY PAYMENTS
	  	 	12	  
		
	 ARTICLE 6 ADJUSTMENTS
	  	 	13	  
		
	 ARTICLE 7 FORFEITURE
	  	 	13	  
		
	 ARTICLE 8 ADMINISTRATION OF THE PLAN
	  	 	14	  
		  	 8.1
	  	 Designation of Committee
	  	 	14	  
		  	 8.2
	  	 Powers and Duties of the Committee
	  	 	14	  
		  	 8.4
	  	 Instructions for Payments
	  	 	14	  
		  	 8.5
	  	 Claims for Benefits
	  	 	14	  
		  	 8.6
	  	 Hold Harmless
	  	 	16	  
		  	 8.7
	  	 Service of Process
	  	 	16	  
		
	 ARTICLE 9 DESIGNATION OF BENEFICIARIES
	  	 	17	  
		  	 9.1
	  	 Beneficiary Designation
	  	 	17	  
		  	 9.2
	  	 Failure to Designate Beneficiary
	  	 	17	  
		
	 ARTICLE 10 WITHDRAWAL OF PARTICIPATING COMPANY
	  	 	17	  
		  	 10.1
	  	 Withdrawal of Participating Company
	  	 	17	  
		  	 10.2
	  	 Effect of Withdrawal
	  	 	17	  
		
	 ARTICLE 11 AMENDMENT OR TERMINATION OF THE PLAN
	  	 	18	  
		  	 11.1
	  	 Right to Amend or Terminate the Plan
	  	 	18	  
		  	 11.2
	  	 Notice
	  	 	18	  
		
	 ARTICLE 12 GENERAL PROVISIONS AND LIMITATIONS
	  	 	18	  
		  	 12.1
	  	 No Right to Continued Employment
	  	 	18	  
		  	 12.2
	  	 Payment on Behalf of Payee
	  	 	19	  
		  	 12.3
	  	 Nonalienation
	  	 	19	  
		  	 12.4
	  	 Missing Payee
	  	 	19	  
		  	 12.5
	  	 Required Information
	  	 	19	  
		  	 12.6
	  	 Binding Effect
	  	 	20	  
		  	 12.7
	  	 Merger or Consolidation
	  	 	20	  
		  	 12.8
	  	 Trust
	  	 	20	  
		  	 12.9
	  	 Entire Plan
	  	 	20	  

  
 -ii- 

 GENWORTH FINANCIAL, INC. 

DEFERRED COMPENSATION PLAN 

(As Amended and Restated Effective January 1, 2016) 

PREAMBLE 
 The primary
purpose of this Genworth Financial, Inc. Deferred Compensation Plan (“Plan”) is to allow certain members of management of Genworth Financial, Inc. (“Company”) and Participating Companies to defer the receipt of a portion of their
salary and bonuses. 
 This Plan is intended to comply with the requirements of Section 409A of the Internal Revenue Code and the
regulations and other guidance issued thereunder, as in effect from time to time. To the extent a provision of the Plan is contrary to or fails to address the requirements of Code Section 409A, the Plan shall be construed and administered as
necessary to comply with such requirements until this Plan is appropriately amended to comply with such requirements. 
 Effective
September 27, 2005, the Company established this Plan, to further the economic interests of the Company and its affiliates by providing deferred compensation incentives to selected management members. This Plan is intended to enhance the
long-term performance and retention of the management members selected to participate in this Plan. The Plan was most recently amended and restated effective as of November 1, 2007 (the “Prior Plan”). Effective as of November 11,
2008, the Prior Plan is amended and restated as set forth in this document to comply with Code Section 409A and for certain other purposes. Effective January 1, 2016, the Plan was frozen to future Deferrals. Participants will continue to
receive payments according to any existing Bonus or Salary Deferral Elections, but no Participant shall be eligible to make an election with regard to Salary or Bonus earned on or after January 1, 2016. 

This Plan is a “top-hat” plan 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 (ERISA). As such, this Plan is subject to limited ERISA reporting and disclosure requirements, and is exempt from all other ERISA requirements. This Plan shall be unfunded for tax purposes and for purposes of Title I
of ERISA. Distributions required or contemplated by this Plan or actions required to be taken under this Plan shall not be construed as creating a trust of any kind or a fiduciary relationship between the Company and any Participant, any
Participant’s designated beneficiary, or any other person. 

 ARTICLE 1 

REFERENCES, CONSTRUCTION AND DEFINITIONS 

Unless otherwise indicated, all references to Articles, Sections, and subsections shall be to the Plan as set forth in this document. The Plan
and all rights thereunder shall be construed and enforced in accordance with ERISA and, to the extent that state law is applicable, the laws of the State of Virginia. The Article titles and the captions preceding Sections and subsections have been
inserted solely as a matter of convenience and in no way define or limit the scope or intent of any provision. When the context so requires, the singular includes the plural. Whenever used herein and capitalized, the following terms have the
respective meanings indicated unless the context plainly requires otherwise. 
  

	1.1	“Account” means, with respect to each Participant’s Deferrals, the separate bookkeeping account adjusted as of each Adjustment Date as provided in Section 6.2. The Account may also be referred
to as the Termination Benefit or the Specified Plan Year Benefit. Subaccounts shall be maintained within each Participant’s Account. 

  

	1.2	“Adjustment Date” means each business day, and any other date upon or as of which accounts are adjusted as set forth in Article 6. 

 

	1.3	“Affiliate” means any corporation or trade or business which is a member of a controlled group of corporations or a group of businesses under common control (within the meaning of Sections 414(b) and
(c) of the Code) of which the Company is a member, and any other entity required to be aggregated with the Company pursuant to Section 409A(d)(6) of the Code and the regulations (or similar guidance) thereunder. 

 

	1.4	“Authorized Leave of Absence” means either (a) a leave of absence authorized by the Participating Company provided that the Employee returns within the period specified; or (b) an absence
required to be considered an Authorized Leave of Absence by applicable law. 

  

	1.5	“Beneficiary” means the beneficiary or beneficiaries designated by a Participant pursuant to Article 9 to receive the benefits, if any, payable on behalf of the Participant under the Plan after the
death of such Participant, or, when there has been no such designation or an invalid designation, the individual or entity, or the individuals or entities, who will receive such amount. 

 

	1.6	“Board” means the Board of Directors of Genworth Financial, Inc. 

  

	1.7	“Bonus” means an annual variable bonus which is awarded and is payable by the Participating Company to the Employee for Service performed during a Plan Year. For this Plan, Bonus is taken into account
for the year in which it is earned, regardless of the year in which it is paid. 

  
 -2- 

	1.8	“Bonus Deferral Election” means the Participant’s annual irrevocable written election, made in accordance with Section 3.1 on the form provided by the Plan Administrator, to defer the receipt
of a stipulated amount of Bonus. Amounts so deferred are called “Deferrals.” 

  

	1.9	“Cause” means (i) the Participant’s willful engagement in conduct which is injurious to the Company and/or its Affiliates, monetarily or otherwise; or (ii) the Participant’s
violation of material Company or Affiliate policy, or the Participant’s breach of a noncompetition, confidentiality, or other restrictive covenant with respect to the Company or any of its Affiliates, that applies to the Participant;
provided, however, that for purposes of clause (i) of this definition, no act, or failure to act, on the Participant’s part shall be deemed “willful” unless done, or omitted to be done, by the Participant not in good faith
and without reasonable belief that the act, or failure to act, was in the best interests of the Company and/or its Affiliates. 

  

	1.10	“Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. All citations to Sections of the Code are to such Sections as they may from time to time be amended or
renumbered. 

  

	1.11	“Committee” means the Committee appointed by the Company and responsible for administering the Plan as provided in Article 8. 

 

	1.12	“Company” means Genworth Financial, Inc. and, where the context indicates, any Participating Company that adopts the Plan. The term Company also includes any successor corporation or firm of the Company
which shall, by written agreement, assume the obligations of this Plan. 

  

	1.13	“Compensation” means, with respect to an Employee, Salary and Bonuses payable by the Participating Company to the Employee for Service. 

 

	1.14	“Deferrals” means amounts of Compensation deferred pursuant to a Bonus Deferral Election or a Salary Deferral Election. 

 

	1.15	“Effective Date” means September 27, 2005. The effective date of this amendment and restatement is January 1, 2016. 

 

	1.16	“Employee” means a person who is a common law employee of a Participating Company. 

  

	1.17	“ERISA” means the Employee Retirement Income Security Act of 1974, as now in effect or as hereafter amended. All citations to Sections of ERISA are to such Sections as they may from time to time be
amended or renumbered. 

  

	1.18	“Participant” means any individual who commenced participation in the Plan as provided in Article 2 and who is either (a) an Employee, or (b) a former Employee who is eligible for a benefit
under the Plan. 

  
 -3- 

	1.19	“Participating Company” means the Company or an Affiliate which, by action of its board of directors or equivalent governing body and with the written consent of the Board, has adopted the Plan;
provided that the Board may, subject to the foregoing provision, waive the requirement that such board of directors or equivalent governing body effect such adoption. By its adoption of or participation in the Plan, a Participating Company shall be
deemed to appoint the Company its exclusive agent to exercise on its behalf all of the power and authority conferred by the Plan upon the Company and accept the delegation to the Committee of all the power and authority conferred upon it by the
Plan. The authority of the Company to act as such agent shall continue until the Plan is terminated as to the Participating Company. The term “Participating Company” shall be construed as if the Plan were solely the Plan of such
Participating Company, unless the context plainly requires otherwise. 

  

	1.20	“Plan” means the Genworth Financial, Inc. Deferred Compensation Plan as contained herein and as it may be amended from time to time hereafter. 

 

	1.21	“Plan Administrator” means the Committee. 

  

	1.22	“Plan Year” means the initial short plan year from the Effective Date to the next December 31. Thereafter, Plan Year means the calendar year ending on each December 31st. 

  

	1.23	“Salary” means, with respect to an Employee, cash base salary payable by the Participating Company to the Employee for Service with the Participating Company. Notwithstanding any provision in this Plan
to the contrary, Salary shall not include Bonuses, but shall include any amount which would have been included in cash base salary but for the Participant’s election to defer payment of such amount under any provision of the Code, including,
but not limited to, Sections 125, 132(f), 402(e)(3), 402(h)(1), 409A, or 457(b) of the Code. 

  

	1.24	“Salary Deferral Election” means the Participant’s annual irrevocable written election, made in accordance with Section 3.1 on the form provided by the Plan Administrator, to defer the receipt
of a stipulated amount of Salary. Amounts so deferred are called “Deferrals.” 

  

	1.25	“Service” means actual employment with the Participating Company or any Affiliate, including service recognized by the Committee for periods prior to such actual employment. 

 

	1.26	“Surviving Spouse” means the survivor of a deceased Participant to whom such deceased Participant was legally married (as determined by the Committee) immediately before the Participant’s death.

  

	1.27	 “Termination of Employment” means a separation from service with a Participating Company or an Affiliate as determined by the
Committee in accordance with the requirements of Section 409A of the Code and the 

  
 -4- 

	 	
regulations (or similar guidance) thereunder, and in accordance with reasonable standards and policies adopted by the Committee; provided, however, that the transfer of an Employee from
employment by one Participating Company or an Affiliate to employment by another Participating Company or Affiliate shall not constitute a Termination of Employment; and provided further that a Termination of Employment shall occur on the earlier of
(a) or (b) where: 

  

	 	(a)	is the date as of which an Employee resigns, is discharged, dies or terminates employment for any other reason, and 

  

	 	(b)	is the first day of absence of an Employee who fails to return to employment at the expiration of an Authorized Leave of Absence. 

ARTICLE 2 
 ELIGIBILITY
AND PARTICIPATION 
  

	2.1	Eligibility. An Employee shall be eligible to become a Participant in the Plan if the Employee: 

  

	 	(a)	is a member of the Participating Company’s “select group of management or highly compensated employees,” as defined in Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA, as amended; and

  

	 	(b)	is designated in writing by the Committee as eligible. 

  

	2.2	Participation. Subject to the provisions of Article 3, an Employee who is eligible under Section 2.1 to become a Participant shall become a Participant upon the execution and delivery of a Salary Deferral
Election or a Bonus Deferral Election under this Plan. No Salary or Bonus Deferral Election shall be valid until accepted by the Committee. No Salary Deferral Elections or Bonus Deferral Elections will be effective with respect to Salary or Bonus
earned on or after January 1, 2016, and no Salary Deferrals or Bonus Deferrals will be permitted after such date. Deferrals made for Salary or Bonus earned (including earned but unpaid) on or before December 31, 2015 shall be paid pursuant
to the terms of the applicable Deferral Election. For clarity, Deferrals of Salary or Bonus earned for services performed in 2015 (even if such 2015 Salary or Bonus is actually paid in 2015 or 2016) will not be affected by this freeze.

  

	2.3	Duration of Participation. A Participant shall continue to be a Participant until the date the Participant is no longer entitled to a benefit under this Plan. However, the Committee may, in its sole and absolute
discretion, determine that a Participant will cease to be eligible to make subsequent year Salary or Bonus Deferral Elections after becoming a Participant under this Article 2. Such revocation of eligibility shall have no effect on a
Participant’s current year deferral election, which are irrevocable as provided in Article 3. 

  
 -5- 

 ARTICLE 3 

ACCUMULATION OF PLAN BENEFITS 
  

	3.1	Deferral Elections. An eligible Employee shall be eligible to make Salary or Bonus Deferral Elections as provided below. Deferrals of Salary and Deferrals of Bonus shall be accounted for in separate sub-accounts
of the Participant’s Account. 

  

	 	(a)	Procedures. The Committee, in the exercise of its discretion, may decide with respect to each Plan Year whether to offer eligible Employees the option of making a Salary Deferral Election and/or a Bonus Deferral
Election. For each Plan Year with respect to which Deferral elections are permitted, the following procedures shall apply: 

  

	 	(i)	Salary – First Year of Participation. Except as noted below, an Employee shall have 30 days following the date the Employee first becomes eligible to participate in this Plan in which to execute and deliver
to the Committee a Salary Deferral Election by which the Participant elects to defer a stipulated percentage of Salary to be earned during the portion of the Plan Year remaining after the Salary Deferral Election is made and which, but for such
Salary Deferral Election, would be paid to the Participant. If an Employee is already eligible to participate in a different deferred compensation plan sponsored by the Company which, under the plan aggregation rules contained in Treasury Regulation
1.409A-1(c)(2), is considered to be the same type of plan as this Plan, the Employee shall not be eligible to make a Salary Deferral Election until the next Plan Year in accordance with subparagraph (iii) below. Notwithstanding the foregoing,
no Deferral Election can be made for Salary earned on or after January 1, 2016, and no Deferrals based on such Salary shall be permitted. 

  

	 	(ii)	 Bonus – First Year of Participation. Except as noted below, an Employee shall have 30 days following the date the Employee first becomes
eligible to participate in this Plan in which to execute and deliver to the Committee a Bonus Deferral Election by which the Participant elects to defer a stipulated percentage of Bonus to be earned during the portion of the Plan Year remaining
after the Bonus Deferral Election is made and which, but for such Bonus Deferral Election, would be paid to the Participant. If an Employee is already eligible to participate in a different deferred compensation plan sponsored by the Company which,
under the plan aggregation rules contained in Treasury Regulation 1.409A-1(c)(2), 

  
 -6- 

	 	
is considered to be the same type of plan as this Plan, the Employee shall not be eligible to make a Bonus Deferral Election until the next Plan Year in accordance with subparagraph
(iii) below. Notwithstanding the foregoing, no Deferral Election can be made for Bonus earned on or after January 1, 2016, and no Deferrals based on such Bonus shall be permitted. 

 

	 	(iii)	Salary – Subsequent Years of Participation. Unless paragraph (i) above applies or the Plan Administrator imposes an earlier deadline through an annual enrollment program, an eligible Employee shall have
until December 31 of each Plan Year to execute and deliver to the Committee a Salary Deferral Election providing for the Deferral of a stipulated percentage of Salary to be earned during the next Plan Year and which, but for such Salary
Deferral Election, would be paid to the Participant. If the Participant fails to deliver a new Salary Deferral Election prior to the commencement of the new Plan Year, no Salary Deferral will be in effect during the new Plan Year. Notwithstanding
the foregoing, no Deferral Election can be made for Salary earned on or after January 1, 2016, and no Deferrals based on such Salary shall be permitted. 

  

	 	(iv)	Bonus – Subsequent Years of Participation. Unless paragraph (ii) above applies or the Plan Administrator imposes an earlier deadline through an annual enrollment program, an eligible Employee shall have
until December 31 of each Plan Year to execute and deliver to the Committee a Bonus Deferral Election providing for the Deferral of a stipulated percentage of any Bonuses which the Employee may earn during the following Plan Year and which, but
for such Bonus Deferral Election, would be paid to the Participant. If the Participant fails to deliver a new Bonus Deferral Election prior to the commencement of the new Plan Year, no Bonus Deferral will be in effect during the new Plan Year.
Notwithstanding the foregoing, no Deferral Election can be made for Bonus earned on or after January 1, 2016, and no Deferrals based on such Bonus shall be permitted. 

 

	 	(v)	Payment Method and Time of Distribution. An Employee shall designate in his or her Salary Deferral Election and/or Bonus Deferral Election with respect to each Plan Year the method for which Deferrals for such
Plan Year plus deemed income allocations on such amounts will be paid, and whether such payment(s) will begin following the Participant’s Termination of Employment or in a specified Plan Year, each as further described in Article 4.

  
 -7- 

	 	(b)	Minimum Deferrals. An eligible Employee is not required to make a Deferral Election for any Plan Year. However, if an eligible Employee makes a Deferral Election, the following minimums apply. These minimums may
be modified by the Committee for a given Plan Year on the election forms for such Plan Year without the need of a formal plan amendment. 

  

	 	(i)	Minimum Salary Deferral Election. The minimum Salary Deferral Election percentage an eligible Employee may make for a Plan Year is 10% of Salary. 

 

	 	(ii)	Minimum Bonus Deferral Election. The minimum Bonus Deferral Election percentage an eligible Employee may make for a Plan Year is 25% of such eligible Employee’s Bonus for a Plan Year; provided, however, that
an eligible Employee may elect to defer 25% or more above a designated threshold amount of his or her Bonus, even if that results in an actual Deferral of less than 25% of the Employee’s entire Bonus for that Plan Year. 

 

	 	(iii)	Minimum Deferral Amounts. Notwithstanding the foregoing Sections 3.1(b)(i) and (ii), an eligible Employee is prohibited from making any Deferral election which, in the determination of the Committee, would result
in Deferrals for a Plan Year of less than $1,000.00. The Committee, in the exercise of its discretion, may waive such minimum Deferral requirement(s) for any Participant with respect to one or more Plan Years. 

 

	 	(c)	Maximum Deferrals. An eligible Employee may make a Salary Deferral Election which would result in Salary Deferrals for a Plan Year of up to 75% of Salary. An eligible Employee may make a Bonus Deferral Election
which would result in Bonus Deferrals for a Plan Year of up to 85% of Bonus. These maximums may be modified by the Committee for a given Plan Year on the election forms for such Plan Year without the need of a formal plan amendment.

  

	3.2	Deferral Investments and Deemed Earnings. The amount of all Deferrals shall be reflected in each Participant’s Account as an account payable of the applicable Participating Company. Each Account shall be
credited on each Adjustment Date with the amount of deemed income or loss as provided herein. 

 Subject to such limitations as
may from time to time be required by law, imposed by the Company, or contained elsewhere in the Plan, and subject to such operating rules and procedures as may be imposed from time to time by the Company, prior to and effective for each Adjustment
Date, each Participant may communicate to the Company a direction as to how his or her Account should be deemed to be invested among such categories of deemed investments as may be made available by the Company hereunder. Such direction shall
designate the 

  
 -8- 

 
percentage (in any whole percent multiples) of each portion of the Participant’s Account that is requested to be deemed to be invested in such categories of deemed investments and shall be
subject to the following rules: 
  

	 	(a)	Any initial or subsequent deemed investment direction shall be made in such form (electronic or otherwise) as designated by the Committee from time to time and shall be effective as soon as practical after receipt.

  

	 	(b)	All amounts credited to each separate sub-account of the Participant’s Account shall be deemed to be invested in accordance with the then effective deemed investment direction, and, as of the effective date of any
new deemed investment direction, all or a portion of the Participant’s Account at that date shall be reallocated among the designated deemed investment funds according to the percentages specified in the new deemed investment direction unless
and until a subsequent deemed investment direction shall be filed and become effective. Thus, for example, a Participant may provide different investment directions for his Deferrals of Salary sub-account(s) and Deferrals of Bonus sub-account(s). A
Participant may make changes to his or her deemed investment elections in the form and manner designated by the Committee up to a maximum of 12 times per Plan Year, but not to exceed one time per month. An election concerning deemed investment
choices shall continue indefinitely as provided in the Participant’s most recent written investment election or other form specified by the Company. 

  

	 	(c)	If the Company receives an initial or revised deemed investment direction that it determines to be incomplete, unclear, or improper, the Company shall notify the Participant of the defect and the
Participant’s investment direction then in effect shall remain in effect (or, in the case of a deficiency in an initial deemed investment direction, the Participant shall be deemed to have filed no deemed investment direction) until the next
Adjustment Date, unless the Company provides for, and permits the application of, corrective action prior thereto. 

  

	 	(d)	If the Company possesses at any time directions as to the deemed investment of less than all of a Participant’s Account, the Participant shall be deemed to have directed that the undesignated portion of his or her
Account be deemed to be invested in a money market fund made available under the Plan as determined by the Company in its discretion. 

  

	 	(e)	Each Participant hereunder, as a condition to his or her participation hereunder, agrees to indemnify and hold harmless the Company and its agents and representatives from any losses or damage of any kind relating to
the deemed investment of the Participant’s Account hereunder. 

  

	 	(f)	The fact that an amount has been credited to a Participant’s Account, as provided above, will not operate to vest in the Participant any right, title or interest in or to any benefit under the Plan. Vesting
of such benefits shall occur only as herein set forth. 

  
 -9- 

	 	(g)	Each reference in this Section to a Participant shall be deemed to include, where applicable, a reference to a Beneficiary. 

ARTICLE 4 
 DISTRIBUTION
OF BENEFITS 
  

	4.1	Termination Benefit 

  

	 	(a)	Eligibility. Upon a Participant’s Termination of Employment, the Participating Company shall pay the Participant the “Termination Benefit” described in this Section 4.1. 

 

	 	(b)	Payment Method and Timing. A Participant may elect in his or her annual Salary Deferral Election and/or Bonus Deferral Election, in the manner and form required by the Committee, to receive, as a Termination
Benefit, payment of such Plan Year’s Deferrals plus deemed income allocations thereon either in a single lump sum payment or in five (5) or ten (10) annual installment payments. If elected, the annual installment payments with respect
to any year’s Deferrals shall be determined by dividing the balance of the Participant’s Deferrals for such Plan Year by the remaining number of years in the original five (5) or ten (10) year period. 

Upon Termination of Employment, the Participant’s Salary Deferrals and/or Bonus Deferrals with respect to a Plan Year and payable as a
Termination Benefit, shall be distributed to the Participant in a single lump sum payment or in annual installments payable over five (5) or ten (10) years as elected by the Participant; provided, however that, regardless of any contrary
election, if a Participant’s total Deferrals, including all sub-accounts under this Plan and any amounts of deferred compensation under other Company sponsored deferred compensation plan required to be aggregated with this Plan under Treasury
Regulation 1.409A-1(c)(2) with respect to such Participant, upon Termination of Employment is $10,000 or less, the balance will be paid in a single lump sum payment on or before the later of December 31 of the calendar year in which the
Termination of Employment occurred, or the 15th day of the third month following the Termination of Employment. Except as provided in the foregoing sentence, payment of the Termination Benefit will be made on July 1 of the Plan Year next
following the Plan Year during which the Participant’s Termination of Employment occurred. 

  
 -10- 

	4.2	Specified Plan Year Benefit 

  

	 	(a)	General Rule. In lieu of receiving a Termination Benefit with respect to Deferrals for a Plan Year as described in Section 4.1, each Participant may irrevocably elect in his or her annual Salary Deferral
Election and/or Bonus Deferral Election, in the manner and form required by the Committee, to receive payment of such Plan Year’s Deferrals plus deemed income allocations thereon, in a single lump sum payment on July 1 of the Plan Year
specified by the Participant. Such Plan Year shall be at least two calendar years after the Plan Year to which the Deferrals relate. 

  

	 	(b)	Intervening Termination of Employment. In the event a Participant has elected to receive a Specified Plan Year Benefit for some or all of his or her Deferrals and the Participant incurs a Termination of
Employment prior to the beginning of the calendar year in which such Specified Plan Year Benefit was scheduled to commence in accordance with Section 4.2(a), the Specified Plan Year Benefit shall instead be distributed as a lump sum payment on
July 1 of the Plan Year next following the Plan Year during which the Participant’s Termination of Employment occurred. 

  

	4.3	Subsequent Elections. Notwithstanding the preceding, a Participant may, with the approval of the Committee, elect (i) to change the method of distribution with respect to a Termination Benefit under
Section 4.1 from a lump sum to 5 or 10 annual installments, or from 5 annual installments to 10 annual installments, or (ii) to delay the timing of any distribution with respect to a Termination Benefit under Section 4.1 or a
Specified Plan Year Benefit under Section 4.2. Such subsequent election shall not take effect for at least twelve (12) months after it is made, and the first payment with respect to such subsequent election must be deferred for at least
five (5) years from the date such payment would otherwise have been made. Further, any subsequent election with respect to a Specified Plan Year Benefit under Section 4.2 may not be made less than twelve (12) months prior to the date
of the scheduled payment to which it relates. 

 Notwithstanding anything to the contrary in the Plan, this Section 4.3
shall be construed so as to comply with the requirements of Section 409A(a)(2)(A)(iv) and 409A(a)(4)(C) of the Code and the regulations (or similar guidance) issued thereunder. 

 

	4.4	 Special Distribution Election. Notwithstanding anything herein to the contrary, as permitted under the transition rules and relevant guidance
under Code Section 409A, the Committee may, in its sole discretion, provide a Participant with a one-time opportunity to submit an election, in the form and manner required by the Committee and prior to December 31, 2008 (or such earlier
date as determined by the Committee), to change the Participant’s previously-elected time and form of payment with respect to the Participant’s Deferrals (the “Special Distribution Election”) to (i) a Termination Benefit to
be paid in accordance with Section 4.1 either in a single lump sum payment or in five (5) or ten (10) annual installment payments, or (ii) a Specified Plan Year Benefit to be paid in a designated Plan Year in accordance with
Section 4.2 hereof; provided, however, that if the 

  
 -11- 

	 	
Participant makes a Special Distribution Election and selects 2009 as the Plan Year for distribution of a Specified Plan Year Benefit, the lump sum payment shall be paid on January 2, 2009.
If a Special Distribution Election form is not timely submitted prior to December 31, 2008 (or such earlier date as determined by the Committee), the Participant’s existing deferral elections shall remain unchanged. 

 

	4.5	Death. If a Participant dies before beginning distributions, or dies after beginning distributions but before receiving distribution of his entire Termination Benefit or Specified Plan Year Benefit, if
applicable, the Participant’s Termination Benefit or Specified Plan Year Benefit elected for each Plan Year’s Deferrals will be paid to the Participant’s Beneficiary(ies) according to the payment method(s) and at the time(s) elected
by the Participant. 

  

	4.6	Payment of Plan Benefits Upon Termination for Cause. Subject to Article 7, when a Participant is terminated for Cause, the Participant’s Termination Benefit will be distributed according to the payment
method(s) and at the time(s) elected by the Participant. 

  

	4.7	Distributions to Key Employees. Notwithstanding any other provision of this Plan to the contrary, for purposes of Section 409A(a)(2)(A)(i) of the Code, in the case of a specified employee as determined in
accordance with Section 409A of the Code and related guidance, in no event shall a benefit payment payable as a result of the Participant’s separation from service begin earlier than the date which is six (6) months following the date
of the Participant’s separation from service. 

  

	4.8	Reemployment. If a Participant who has incurred a Termination of Employment again becomes an Employee, such reemployment shall not change, suspend, delay, or otherwise affect payment of the Participant’s
Termination Benefit. 

  

	4.9	Facility of Payment. If, in the Committee’s opinion, a Participant or other person entitled to benefits under the Plan is under a legal disability or is in any way incapacitated so as to be unable to manage
his financial affairs, payment will be made to the conservator or other person legally charged with the care of his person or his estate or, if no such legal conservator will have been appointed, then to any individual (for the benefit of such
Participant or other person entitled to benefits under the Plan) whom the Committee may from time to time approve. 

ARTICLE 5 
 UNFORESEEABLE
EMERGENCY PAYMENTS 
 In the event a Participant incurs a financial hardship as a result of an “unforeseeable emergency” (as such term is
defined below), the Participant may apply to the Committee for the distribution of all or a portion of the Participant’s Account. The application shall provide such information and be in such form as the Committee shall require. The Committee,
in the exercise of its sole and absolute discretion, may approve or deny the 

  
 -12- 

 
request in whole or in part, and shall direct the Participating Company accordingly. The term “unforeseeable emergency” means a severe financial hardship to the Participant resulting
from an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary
and unforeseeable circumstances arising as a result of events beyond the control of the Participant. In no event may the amounts distributed with respect to an unforeseeable emergency exceed the amounts necessary to satisfy such emergency plus
amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by
liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). Notwithstanding any provision in the Plan to the contrary, any payment made pursuant to this
Section 5.1 shall comply with Section 409A(a)(2)(A)(vi) of the Code and the regulations (or similar guidance) promulgated thereunder (or any successor provisions). 

ARTICLE 6 
 ADJUSTMENTS

  

	6.1	Accounts. The Committee shall establish and cause to be maintained with respect to each Participant’s Deferrals and income allocations separate subaccounts as part of the Participant’s Account, and as
of each Adjustment Date shall adjust each subaccount as provided in this Article 6. 

  

	6.2	Adjustments to Account. As of each Adjustment Date, the Committee shall adjust each Account by the following: 

  

	 	(a)	Unforeseeable Emergency Payments. The Account shall be reduced by the amount of Deferrals distributed pursuant to Article 5 and allocable to the account. 

 

	 	(b)	Income Allocations. Deemed income or loss allocations for the period since the last Adjustment Date shall be credited or debited to the Account, as the case may be. 

 

	 	(c)	Deferrals. Deferrals, if any, made since the last Adjustment Date and allocable to the account shall be added to the Account. 

ARTICLE 7 
 FORFEITURE

 Notwithstanding any provision in this Plan to the contrary, no benefit whatsoever shall be paid to or on behalf of any Participant under this Plan if
the Participant defrauds a Participating Company or an Affiliate or embezzles money or property of a Participating Company or an Affiliate. 

  
 -13- 

 ARTICLE 8 

ADMINISTRATION OF THE PLAN 
  

	8.1	Designation of Committee. For purposes of this Plan, the Committee shall be the Benefits Committee appointed by the Board unless the Board designates another committee or officer to administer the Plan or any
portion thereof. 

  

	8.2	Powers and Duties of the Committee. The Committee shall have general responsibility for the administration of the Plan (including but not limited to complying with reporting and disclosure requirements (if any),
and establishing and maintaining Plan records). In the exercise of its sole and absolute discretion, the Committee shall interpret the Plan’s provisions and determine the eligibility of individuals for benefits. The Committee shall interpret
the Plan in such a way as to meet the requirements of Section 409A of the Code and any regulations and guidance issued thereunder. 

  

	8.3	Agents. The Committee may engage such legal counsel, certified public accountants and other advisers and service providers, who may be advisers or service providers for the Participating Company or an Affiliate,
and make use of such agents and clerical or other personnel, as it shall require or may deem advisable for purposes of the Plan. The Committee may rely upon the written opinion of any legal counsel or accountants engaged by the Committee, and may
delegate to any such agent or to any subcommittee or member of the Committee its authority to perform any act hereunder, including, without limitation, those matters involving the exercise of discretion, provided that such delegation shall be
subject to revocation at any time at the discretion of the Committee. 

  

	8.4	Instructions for Payments. All requests of or directions to the Participating Company for payment or disbursement shall be signed by a member of the Committee or such other person or persons as the Committee may
from time to time designate in writing. This person shall cause to be kept full and accurate accounts of payments and disbursements under the Plan. 

  

	8.5	Claims for Benefits. 

  

	 	(a)	 Initial Claims. Any Employee, Beneficiary, or his duly authorized representative may file a claim for a benefit to which the claimant believes
that he is entitled. Such a claim must be in writing and delivered to the Committee in person or by mail, postage paid. Within ninety (90) days after receipt of such claim, the Committee shall send to the claimant, by mail, postage prepaid,
notice of the granting or denying, in whole or in part, of such claim, unless special circumstances require an extension of time for processing the claim. In no event may the extension exceed ninety (90) days from the end of the initial period.
If such extension is necessary, the claimant will be given a written notice to this effect prior to the expiration of the initial 90-day period. The Committee shall have full 

  
 -14- 

	 	
discretion to deny or grant a claim in whole or in part. If notice of the denial of a claim is not furnished in accordance with this Section 8.5(a), the claim shall be deemed denied and the
claimant shall be permitted to exercise his right to review pursuant to subsections (c) and (d). 

  

	 	(b)	Requirement for Written Notice of Claim. The Committee shall provide a written notice to every claimant who is denied a claim for benefits under this Article. Such written notice shall set forth in a manner
calculated to be understood by the claimant, the following information: 

  

	 	(i)	The specific reason or reasons for the adverse determination. 

  

	 	(ii)	Reference to the specific Plan provisions on which the determination was based. 

  

	 	(iii)	A description of any additional material or information necessary for the Participant to perfect the claim and an explanation of why such material or information is necessary. 

 

	 	(iv)	A description of the Plan’s review procedures, incorporating any voluntary appeal procedures offered by the Plan, and the time limits applicable to such procedures, including a statement of the Participant’s
right to bring a civil action under Section 502 of ERISA following an adverse benefit determination on review. 

  

	 	(v)	A statement that the Participant 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 claim. 

 

	 	(c)	Appeals. Within sixty (60) days after the receipt by the claimant of written notification of the denial (in whole or in part) of his claim, the claimant or his duly authorized representative may make a
written application to the Committee, in person or by certified mail, postage prepaid, to be afforded a review of such denial; may review pertinent documents; and may submit issues and comments in writing. 

 

	 	(d)	Disposition of Disputed Claims. Upon receipt of a request for review, the Committee shall make a prompt decision on the review matter. The decision on such review shall be written in a manner calculated to be
understood by the Participant and shall include: 

  

	 	(i)	The specific reason or reasons for the adverse decision; 

  
 -15- 

	 	(ii)	Reference to the specific plan provisions on which the benefit determination is based; 

  

	 	(iii)	A statement that the Participant 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 Participant’s claim for
benefits; and 

  

	 	(iv)	A statement describing any voluntary appeal procedures offered by the Plan and the Participant’s right to obtain the information about such voluntary appeal procedures (if applicable), and a statement of the
Participant’s right to bring action under Section 502(a) of ERISA. 

 The decision upon review shall be made not
later than sixty (60) days after the Committee’s receipt of a request for a review, unless special circumstances require an extension of time for processing and the Participant is informed of the need for the extension within the initial
sixty (60) day period. When an extension is necessary, a decision shall be rendered as soon as possible, but not later than 120 days after receipt of the request for review. If notice of the decision on the review is not furnished in accordance
with this Section 8.5(d), the claim shall be deemed denied and the Participant shall be permitted to exercise his right to a legal remedy. 
  

	8.6	Hold Harmless. To the maximum extent permitted by law, no member of the Committee shall be personally liable by reason of any contract or other instrument executed by such member or on such member’s behalf
in such member’s capacity as a member of the Committee nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless, directly from its own assets (including the proceeds of any insurance policy the
premiums of which are paid from the Company’s own assets), each member of the Committee and each other officer, Employee, or director of the Company or an Affiliate to whom any duty or power relating to the administration or interpretation of
the Plan against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission to act in connection with the Plan unless arising out of
such person’s own fraud or bad faith. 

  

	8.7	Service of Process. The Secretary of the Company or such other person designated by the Board shall be the agent for service of process under the Plan. 

  
 -16- 

 ARTICLE 9 

DESIGNATION OF BENEFICIARIES 
  

	9.1	Beneficiary Designation. Every Participant shall file with the Committee a written designation (on a form provided by the Plan Administrator) of one or more persons as the Beneficiary who shall be entitled to
receive the benefits, if any, payable under the Plan after the Participant’s death. A Participant may from time to time revoke or change such Beneficiary designation without the consent of any prior Beneficiary by filing a new designation with
the Committee. The last such designation received by the Committee shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s
death, and in no event shall it be effective as of any date prior to such receipt. All decisions of the Committee concerning the effectiveness of any Beneficiary designation, and the identity of any Beneficiary, shall be final. If a Beneficiary
shall die after the death of the Participant and prior to receiving the payment(s) that would have been made to such Beneficiary had such Beneficiary’s death not occurred, then for the purposes of the Plan the payment(s) that would have been
received by such Beneficiary shall be made to the Beneficiary’s estate. 

  

	9.2	Failure to Designate Beneficiary. If no Beneficiary designation is in effect at the time of a Participant’s death, the benefits, if any, payable under the Plan after the Participant’s death shall be
made to the Participant’s Surviving Spouse, if any, or if the Participant has no Surviving Spouse, to the Participant’s estate. If the Committee is in doubt as to the right of any person to receive such benefits, the Committee may direct
the Participating Company to withhold payment, without liability for any accruals thereon, until the rights thereto are determined, or the Committee may direct the Participating Company to pay any such amount into any court of appropriate
jurisdiction and such payment shall be a complete discharge of the liability of the Participating Company therefor. 

ARTICLE 10 
 WITHDRAWAL
OF PARTICIPATING COMPANY 
  

	10.1	Withdrawal of Participating Company. A Participating Company (other than the Company) may withdraw from participation in the Plan by giving the Board prior written notice approved by resolution by its board of
directors or similar governing body specifying a withdrawal date, which shall be the last day of a month at least 30 days subsequent to the date which notice is received by the Board. The Participating Company shall withdraw from participating in
the Plan if and when it ceases to be either a division of the Company or an Affiliate. The Board may require the Participating Company to withdraw from the Plan, as of any withdrawal date the Board specifies. 

 

	10.2	Effect of Withdrawal. A Participating Company’s withdrawal from the Plan shall not in any way modify, reduce, or otherwise affect the Participating Company’s obligations incurred before the withdrawal,
as such obligations are defined under the provisions of the Plan existing immediately before the withdrawal. Withdrawal from the Plan by any Participating Company shall not in any way affect any other Participating Company’s participation in
the Plan. 

  
 -17- 

 ARTICLE 11 

AMENDMENT OR TERMINATION OF THE PLAN 
  

	11.1	Right to Amend or Terminate the Plan 

  

	 	(a)	The Board reserves the right at any time to amend or terminate the Plan (provided such amendment or termination complies with requirements under Section 409A) by corporate resolution, in whole or in part,
and for any reason and without the consent of any Participating Company, Participant, or Beneficiary. In addition, the Board may amend the Plan retroactively to the extent required to qualify the Plan under Section 409A of the Code, provided
that no such amendment may reduce any Participant’s Account. Each Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the Board. 

 

	 	(b)	The Committee may adopt any ministerial and nonsubstantive amendment which may be necessary or appropriate to facilitate the administration, management, and interpretation of the Plan, provided the amendment does not
materially affect the currently estimated cost to the Participating Companies of maintaining the Plan. Each Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the Committee. 

 

	 	(c)	In no event shall an amendment or termination modify, reduce, or otherwise affect the Participating Company’s obligations under the Plan made before the amendment or termination, as such obligations are
defined under the provisions of the Plan and the trust existing immediately before such amendment or termination. 

  

	11.2	Notice. Notice of any amendment or termination of the Plan shall be given by the Board or the Committee, whichever adopts the amendment, to the other and all Participating Companies. 

ARTICLE 12 
 GENERAL
PROVISIONS AND LIMITATIONS 
  

	12.1	No Right to Continued Employment. Nothing contained in the Plan shall give any Employee the right to be retained in the employment of the Participating Company or Affiliate or affect the right of any such
employer to dismiss any Employee. The adoption and maintenance of the Plan shall not constitute a contract between any Participating Company and Employee or consideration for, or an inducement to or condition of, the employment of any Employee.

  
 -18- 

	12.2	Payment on Behalf of Payee. If the Committee shall find that any person to whom any amount is payable under the Plan is unable to care for such person’s affairs because of illness or accident, or is a minor,
or had died, then any payment due such person or such person’s estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee so elects, be paid to such person’s spouse, a child, a
relative, an institute maintaining or having custody of such person, or any other person deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the
liability of the Plan and the Participating Company therefor. 

  

	12.3	Nonalienation. No interest, expectancy, benefit, payment, claim, or right of any Participant or Beneficiary under the Plan shall be (a) subject in any manner to any claims of any creditor of the Participant
or Beneficiary; (b) subject to the debts, contracts, liabilities or torts of the Participant or Beneficiary; or (c) subject to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge or encumbrance of
any kind. If any person shall attempt to take any action contrary to this Section, such action shall be null and void and of no effect, and the Committee and the Participating Company shall disregard such action and shall not in any manner be bound
thereby and shall suffer no liability on account of its disregard thereof. If the Participant, Beneficiary, or any other beneficiary hereunder shall become bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge any
right hereunder, then such right or benefit shall, in the discretion of the Committee, cease and terminate, and in such event the Committee may hold or apply the same or any part thereof for the benefit of the Participant or Beneficiary or the
spouse, children, or other dependents of the Participant or Beneficiary, or any of them, in such manner and in such amounts and proportions as the Committee may deem proper. 

 

	12.4	Missing Payee. If the Committee cannot ascertain the whereabouts of any person to whom a payment is due under the Plan, and if, after five years from the date such payment is due, a notice of such payment due is
mailed to the last known address of such person, as shown on the records of the Committee or the Participating Company, and within three months after such mailing such person has not made written claim therefor, the Committee, if it so elects, after
receiving advice from counsel to the Plan, may direct that such payment and all remaining payments otherwise due to such person be canceled on the records of the Plan and the amount thereof forfeited, and upon such cancellation, the Participating
Company shall have no further liability therefor, except that, in the event such person later notifies the Committee of such person’s whereabouts and requests the payment or payments due to such person under the Plan, the amounts otherwise due
but unpaid as of the date payment would have been made shall be paid to such person without accruals due to late payment. 

  

	12.5	Required Information. Each Participant shall file with the Committee such pertinent information concerning himself or herself, such Participant’s Beneficiary, or such other person as the Committee may
specify, and no Participant, Beneficiary, or other person shall have any rights or be entitled to any benefits under the Plan unless such information is filed by or with respect to the Participant. 

  
 -19- 

	12.6	Binding Effect. Obligations incurred by the Participating Company pursuant to this Plan shall be binding upon and inure to the benefit of the Participating Company, its successors and assigns, and the Participant
and the Participant’s Beneficiary. 

  

	12.7	Merger or Consolidation. In the event of a merger or consolidation by the Participating Company with another corporation, or the acquisition of substantially all of the assets or outstanding stock of the
Participating Company by another corporation, then and in such event the obligations and responsibilities of the Participating Company under this Plan shall be assumed by any such successor or acquiring corporation, and all of the rights,
privileges, and benefits of the Participants and Beneficiaries hereunder shall continue. 

  

	12.8	Trust. Notwithstanding anything to the contrary in the Plan, the Company may establish a grantor trust, which may be an irrevocable “rabbi trust,” to assist it and other Participating Companies in
funding Plan obligations, and any payments made to a Participant or Beneficiary from such trust shall relieve the Participating Company from any further obligations under the Plan only to the extent of such payment. The trust shall be a domestic
trust maintained in the United States. The Company shall pay all management and other fees associated with the administration of the trust established pursuant to this Section. Notwithstanding any other provisions of the Plan, the assets of the
trust shall remain the property of the Company, and shall be subject to the claims of creditors in the event of bankruptcy or insolvency, as provided in the trust agreement. 

 

	12.9	Entire Plan. This document and any written amendments hereto, the Deferral elections, and the Beneficiary designations contain all the terms and provisions of the Plan and shall constitute the entire Plan, any
other alleged terms or provisions being of no effect. 

  
 -20-

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