Document:

Magellan Pension Plan

 Exhibit 10(b) 
  
 MAGELLAN PENSION PLAN 
  
 (ADOPTED EFFECTIVE JANUARY 1, 2004) 

 MAGELLAN PENSION PLAN 
  
 (Adopted Effective January 1, 2004) 
  

TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 ARTICLE I. Purpose; Effective Date
	  	1
			
	 1.1
	  	Purpose	  	1
	 1.2
	  	Effective Date	  	1
		
	 ARTICLE II. Definitions
	  	2
			
	 2.1
	  	“Accrued Benefit”	  	2
	 2.2
	  	“Actuarial Equivalent”	  	2
	 2.3
	  	“Actuary”	  	3
	 2.4
	  	“Affiliate”	  	3
	 2.5
	  	“Alternate Payee”	  	3
	 2.6
	  	“Annuity Starting Date”	  	3
	 2.7
	  	“Appendix”	  	3
	 2.8
	  	“Applicable Election Period”	  	3
	 2.9
	  	“Authorized Leave of Absence”	  	4
	 2.10
	  	“Average Monthly Compensation”	  	4
	 2.11
	  	“Beneficiary”	  	4
	 2.12
	  	“Benefit Service”	  	4
	 2.13
	  	“Board of Managers”	  	4
	 2.14
	  	“Code”	  	4
	 2.15
	  	“Code Section 415 Compensation”	  	4
	 2.16
	  	“Committee”	  	4
	 2.17
	  	“Company”	  	4
	 2.18
	  	“Compensation”	  	4
	 2.19
	  	“Computation Period”	  	5
	 2.20
	  	“Covered Compensation”	  	6
	 2.21
	  	“Death Benefit”	  	6
	 2.22
	  	“Deferred Vested Pension”	  	6
	 2.23
	  	“Disability”	  	6
	 2.24
	  	“Disability Pension”	  	6
	 2.25
	  	“Early Pension”	  	6
	 2.26
	  	“Effective Date”	  	6
	 2.27
	  	“Eligibility Service”	  	6
	 2.28
	  	“Eligible Employee”	  	7
	 2.29
	  	“Employee”	  	8
	 2.30
	  	“Employer”	  	8
	 2.31
	  	“Employer Contributions”	  	8
	 2.32
	  	“Employment Date”	  	8
	 2.33
	  	“ERISA”	  	8

  

 i 

					
	 2.34
	  	“Hour of Service”	  	8
	 2.35
	  	“Key Employee”	  	10
	 2.36
	  	“Leased Employee”	  	10
	 2.37
	  	“Lump Sum”	  	10
	 2.38
	  	“Normal Pension”	  	10
	 2.39
	  	“Normal Retirement Age”	  	10
	 2.40
	  	“Normal Retirement Date”	  	10
	 2.41
	  	“One Year Break-In-Service”	  	11
	 2.42
	  	“Participant”	  	11
	 2.43
	  	“Pension”	  	11
	 2.44
	  	“Plan”	  	11
	 2.45
	  	“Plan Year”	  	11
	 2.46
	  	“Prior Service”	  	11
	 2.47
	  	“Prior Williams Plan”	  	11
	 2.48
	  	“Prior Williams Plan Benefit”	  	11
	 2.49
	  	“Procedure”	  	11
	 2.50
	  	“Qualified Joint and Survivor Pension”	  	11
	 2.51
	  	“Qualified Domestic Relations Order”	  	11
	 2.52
	  	“Retirement”	  	11
	 2.53
	  	“Separation Benefit”	  	11
	 2.54
	  	“Single Life Annuity”	  	12
	 2.55
	  	“Social Security Retirement Age”	  	12
	 2.56
	  	“Spouse”	  	12
	 2.57
	  	“Spouse’s Consent”	  	12
	 2.58
	  	“Surviving Spouse”	  	12
	 2.59
	  	“Survivor Pension”	  	12
	 2.60
	  	“Termination of Employment”	  	13
	 2.61
	  	“Trust”	  	13
	 2.62
	  	“Trust Agreement”	  	13
	 2.63
	  	“Trustee”	  	13
	 2.64
	  	“Trust Fund”	  	13
	 2.65
	  	“Vesting Service”	  	14
	 2.66
	  	“Vested Participant”	  	14
	 2.67
	  	“Year of Service”	  	14
		
	 ARTICLE III. Participation
	  	15
			
	 3.1
	  	Participation	  	15
	 3.2
	  	Reemployment	  	15
	 3.3
	  	Veteran’s Rights	  	15
		
	 ARTICLE IV. Contributions
	  	16
			
	 4.1
	  	Participant Contributions	  	16
	 4.2
	  	Employer Contributions	  	16
	 4.3
	  	Rollover Contributions	  	16

  

 ii 

					
	 ARTICLE V. Retirement Benefits
	  	17
			
	 5.1
	  	Normal and Late Retirement	  	17
	 5.2
	  	Early Retirement	  	17
	 5.3
	  	Disability Retirement	  	17
	 5.4
	  	Deferred Vested Retirement	  	18
	 5.5
	  	Transferred Employee Retirement	  	18
	 5.6
	  	Annuity Starting Date	  	18
	 5.7
	  	Distribution Requirements	  	19
	 5.8
	  	Required Information	  	20
	 5.9
	  	Direct Rollovers	  	20
		
	 ARTICLE VI. Amount of Pension
	  	22
			
	 6.1
	  	Normal and Late Pension	  	22
	 6.2
	  	Early Pension	  	22
	 6.3
	  	Disability Pension	  	22
	 6.4
	  	Deferred Vested Pension	  	23
	 6.5
	  	Maximum Pensions	  	24
	 6.6
	  	Transferred Employee Retirement Benefits	  	25
		
	 ARTICLE VII. Separation and Death Benefits
	  	26
			
	 7.1
	  	Separation Benefit	  	26
	 7.2
	  	Death Benefits	  	26
	 7.3
	  	Designation of Beneficiary	  	26
	 7.4
	  	Loss of Eligibility to Receive Death Benefit	  	27
	 7.5
	  	Waiver of Survivor Pension Coverage for Spouse	  	27
		
	 ARTICLE VIII. Normal and Optional Forms of Payment
	  	28
			
	 8.1
	  	Normal Form of Pension	  	28
	 8.2
	  	Optional Forms of Pension	  	28
	 8.3
	  	Other Benefits Cancelled by Option	  	30
	 8.4
	  	Special Restrictions on Payment	  	31
	 8.5
	  	Domestic Relations Orders	  	31
	 8.6
	  	Unclaimed Benefits	  	31
	 8.7
	  	Facility of Payment	  	31
	 8.8
	  	Loss of Eligibility to Receive Continuation Benefits	  	32
		
	 ARTICLE IX. Employment Transfers
	  	33
			
	 9.1
	  	Transfers Between Employers	  	33
	 9.2
	  	Transfers to Non-Employer Affiliates	  	33
		
	 ARTICLE X. Administration
	  	34
			
	 10.1
	  	Fiduciaries	  	34
	 10.2
	  	Allocation of Responsibilities Among Named Fiduciaries	  	34
	 10.3
	  	Provisions Concerning the Benefits Committee	  	35
	 10.4
	  	Provisions Concerning the Committee	  	35
	 10.5
	  	Provisions Concerning the Plan Investments	  	36

  

 iii 

					
	 10.6
	  	Delegation of Responsibilities; Bonding	  	36
	 10.7
	  	No Joint Fiduciary Responsibilities	  	37
	 10.8
	  	Information to be Supplied by Employer	  	37
	 10.9
	  	Records	  	37
	 10.10
	  	Fiduciary Capacity	  	37
		
	 ARTICLE XI. Trustee
	  	38
			
	 11.1
	  	Appointment of Trustee	  	38
	 11.2
	  	Responsibility of Trustee and Investment Manager(s)	  	38
	 11.3
	  	Funding and Investment Policy	  	38
	 11.4
	  	Bonding	  	38
	 11.5
	  	Standard of Conduct of Trustee	  	38
	 11.6
	  	Payment of Expenses	  	38
		
	 ARTICLE XII. Limitations
	  	39
			
	 12.1
	  	Reemployment of Retired Employees	  	39
	 12.2
	  	Governmental Restrictions	  	39
		
	 ARTICLE XIII. Amendments
	  	41
			
	 13.1
	  	Right to Amend	  	41
	 13.2
	  	Plan Merger or Consolidation	  	41
		
	 ARTICLE XIV. Adoption and Withdrawal
	  	42
			
	 14.1
	  	Procedure for Adoption	  	42
	 14.2
	  	Withdrawal	  	42
	 14.3
	  	Adoption By Affiliate Contingent Upon Qualification	  	42
		
	 ARTICLE XV. Termination
	  	43
			
	 15.1
	  	Right to Terminate	  	43
	 15.2
	  	Employer Consolidation or Merger	  	43
	 15.3
	  	Allocation and Liquidation of Trust Fund	  	43
	 15.4
	  	Manner of Distribution	  	44
	 15.5
	  	Amounts Returnable to an Employer	  	44
		
	 ARTICLE XVI. Top-Heavy Provisions
	  	45
			
	 16.1
	  	Definitions	  	45
	 16.2
	  	Application of Top-Heavy Provisions	  	46
	 16.3
	  	Top-Heavy Determination	  	47
	 16.4
	  	Vesting Requirements	  	47
	 16.5
	  	Minimum Benefit.	  	48
	 16.6
	  	Adjustment in Maximum Limitation on Annual Benefits	  	48
		
	 ARTICLE XVII. Miscellaneous
	  	49
			
	 17.1
	  	Nonguarantee of Employment	  	49
	 17.2
	  	Rights to Trust Assets	  	49
	 17.3
	  	Nonalienation of Benefits	  	49

  

 iv 

					
		
	 ARTICLE XVIII. Procedure for Identification and Processing
	  	50
			
	 18.1
	  	Definitions	  	50
	 18.2
	  	Status of Order	  	50
	 18.3
	  	Procedural Requirements.	  	51
	 18.4
	  	Segregation of Assets and Payments	  	51
	 18.5
	  	Modification of Procedure	  	52
		
	 ARTICLE XIX. Claims Procedure
	  	53
			
	 19.1
	  	Claims Procedure	  	53

  

 v 

 MAGELLAN PENSION PLAN 
  
 ARTICLE I. 
  
 Purpose; Effective Date 
  
 1.1 Purpose. The purpose of this Plan is to provide retirement and incidental benefits for all Eligible Employees who complete a period of service
and otherwise become eligible hereunder. The benefits provided by this Plan will be paid from a Trust Fund established by the Company and will be in addition to the benefits Employees are entitled to receive under the federal Social Security Act.

  
 1.2 Effective Date. The terms and provisions of this
Plan shall be effective on and after January 1, 2004, and shall apply only to Eligible Employees who are credited with an Hour of Service for services rendered on or after such date, unless this Plan expressly provides for an earlier effective date.
An Employee who participated in the Prior Williams Plan on or before December 31, 2003, and became an Employee of the Company or any Employer on January 1, 2004, shall be a Participant in this Plan on January 1, 2004. 
  
 Benefits payable under this Plan are payable to all Participants in
accordance with the terms of this Plan, unless a Participant is a member of a class of Eligible Employees for which a different schedule of benefits has been provided, as described in an Appendix to this Plan. 
  

 1 

 ARTICLE II. 
  
 Definitions 
  
 The following terms, whenever used in the following capitalized forms, shall have the meanings set forth below: 
  
 2.1 “Accrued Benefit” means, with respect to a Participant,
subject to the limitations of Section 6.5 and Article XVI and to the proviso below, a monthly amount payable commencing as of the first day of the month coincident with or next following his Normal Retirement Date or as of his later Annuity Starting
Date, which amount when expressed as a Single Life Annuity, is equal to the amount determined below where: 
  
 such amount is equal to (a) plus (b) minus (c) multiplied by (d), where: 
  
 (a) is equal to one and one-tenth percent (1.1%) of the
Participant’s Average Monthly Compensation multiplied by his Benefit Service; 
  
 (b) is equal to forty-five one-hundredths percent (0.45%) of the amount, if any, by which such Participant’s Average Monthly
Compensation exceeds his Covered Compensation multiplied by the lesser of (i) his total Benefit Service, or (ii) thirty-five (35), 
  
 (c) is the Prior Williams Plan Benefit, and 
  
 (d) is the fraction the numerator of which is the Participant’s years of Benefit Service calculated from the Participant’s date
of hire with the Company from and after January 1, 2004 and the denominator of which is the number of years of Benefit Service calculated from the Participant’s date of hire with the Company from and after January 1, 2004 which will be earned
by the Participant on the assumption that he continues in employment with the Company to his Normal Retirement Date, but in no event will such fraction be greater than one (1), 
  
 with his Average Monthly Compensation, Benefit Service and Covered Compensation determined as of his Termination of
Employment (or, if no Termination of Employment is involved, as of the date of determination) in the determination of such amount and the component parts thereof. 
  
 2.2 “Actuarial Equivalent” means, 
  
 (a) for purposes of computing optional forms of benefits the actuarial adjustment factors described in Section 8.2 hereof;
and 
  
 (b) with respect to the present value of the Pension based
upon his Accrued Benefit of a Participant paid in a Lump Sum calculated applying the Applicable Interest Rate and the Applicable Mortality Table. 
  

 2 

 (c) For purposes of this Subsection 2.2(c), the following terms, whenever used in the capitalized form,
shall have the meanings set forth below: 
  
 (1)
“Applicable Interest Rate” means the annual interest rate on 30 years Treasury Securities as specified by the Commissioner of Internal Revenue for the first calendar month preceding the first day of the Plan Year during which the
Annuity Starting Date occurs. If the time specified herein for determining the Applicable Interest Rate is changed, including an indirect change as a result of a change in the Plan Year, the interest rate used with respect to distributions made
within one year of either the adoption date or the effective date of the amendment will be determined under Temporary Regulations §1.417(e)-1T(d)(10)(ii) to insure the amendment does not violate Code Section 411(d)(6). 
  
 (2) “Applicable Mortality Table” means the
applicable mortality table prescribed by the Commissioner of Internal Revenue in revenue rulings, notices and other guidance published in the Internal Revenue Bulletin, as in effect on the date as of which present value is being determined. For
2004, the Applicable Mortality Table is the 1994 GAM. 
  
 2.3
“Actuary” means the individual actuary or firm of actuaries selected by the Company to provide actuarial services in connection with the administration of this Plan. 
  
 2.4 “Affiliate” means (1) a corporation, trade or business, if it and an Employer are members of a
controlled group of corporations as defined in Code Section 414 (b) or under common control as defined under Code Section 414(c); (2) an organization, if it and an Employer are members of an affiliated service group, as defined in Code Section
414(m); and (3) solely for the purposes set forth in Code Section 414(o), any other entity, if it and an Employer are required to be aggregated pursuant to regulations under Code Section 414(o). Solely for the purposes of applying the limitations
set forth in this Plan on maximum benefits, the standard of control under Code Sections 414(b) and 414(c) shall be deemed to be “more than 50%” rather than “at least 80%.” 
  
 2.5 “Alternate Payee” means an alternate payee described in
the Procedure. 
  
 2.6 “Annuity Starting Date”
means the first day for which an amount which is required to be paid under this Plan as an annuity or otherwise is actually paid, whether by reason of Retirement, death or Disability, as determined in accordance with Section 5.6 hereof. 

 
 2.7 “Appendix” means one of the appendices attached
hereto and made a part of this Plan. 
  
 2.8 “Applicable
Election Period” means: 
  
 (a) In the case of an
election to waive a Qualified Joint and Survivor Pension or to revoke such waiver, the ninety-day period ending on the Annuity Starting Date; and 
 (b) In the case of any Spouse’s Consent required under Section 8.5 before the distribution of the Accrued Benefit of a Participant can begin, the ninety-day period ending on the Annuity Starting Date. 
  

 3 

 2.9 “Authorized Leave of Absence” means any absence authorized by the Employer under the
Employer’s personnel practices granted in a uniform and nondiscriminatory manner. 
  
 2.10 “Average Monthly Compensation” means the sum of a person’s Compensation earned during his highest paid, five (5) Plan Years of employment (excluding his first and last partial years of
employment) within the ten (10) Plan Years prior to his Normal Retirement Date, or if earlier, prior to his Termination of Employment (or if appropriate, the date of determination), divided by sixty (60). If a person has less than five (5) Plan
Years of employment, Average Monthly Compensation shall mean the sum of the person’s Compensation earned for all full Plan Years (excluding his first and last partial years) of employment, divided by the number of months during this period for
which he received such Compensation. 
  
 2.11
“Beneficiary” means any person or entity designated under Section 7.3 to receive a Death Benefit. 
  
 2.12 “Benefit Service” means the sum of the full and fractional Years of Service credited to a Participant after the Effective Date under
the provisions of this Plan, plus, for an Eligible Employee who was a Participant in the Prior Williams Plan before the Effective Date, his Benefit Service (or comparable service) determined under the Prior Williams Plan as of December 31, 2003;
provided, however, that Benefit Service (or comparable service) attributable to a period of Eligibility Service will be included unless disregarded under Section 2.27. 
  
 2.13 “Board of Managers” means the Board of Managers of the Company. 
  
 2.14 “Code” means the Internal Revenue Code of 1986, as
amended, and any subsequent Internal Revenue Code. If there is a subsequent Internal Revenue Code, any references herein to Internal Revenue Code sections shall be deemed to refer to comparable sections of any subsequent Internal Revenue Code.

  
 2.15 “Code Section 415 Compensation” means a
Participant’s taxable income as reported or reportable on Form W-2 for federal income tax purposes, increased by salary reduction amounts contributed to the Magellan 401(k) Plan or similar plan designated by the Committee and salary reduction
amounts contributed to any cafeteria plan or flexible benefits plan established by the Company in accordance with Code Section 125 and related sections of the Code. 
  
 2.16 “Committee” means the Benefits Committee described in Section 10.3 and shall sometimes be referred to
herein as the Committee or the Benefits Committee. 
  
 2.17
“Company” means Magellan Midstream Holdings, L.P., a partnership formed under the laws of the State of Delaware. 
  
 2.18 “Compensation” means with respect to a Participant who has an Hour of Service on or after such date, the first two hundred thousand
dollars ($200,000) (or such other amount as may be permitted under Code Section 401(a)(17)) of the total wages or salary paid to a Participant each Plan Year by an Employer or an Affiliate, or Earned Income as defined herein, if the Participant is a
Self-Employed Individual including base pay, short term disability (“STD”) paid by an Employer, bonuses (unless specifically excluded under a written bonus arrangement), if any, when paid, salary reduction amounts contributed to the
Magellan 401(k) Plan or a similar 
  

 4 

 plan designated by the Committee, salary reduction amounts contributed to any qualified transportation plan established
by the Company in accordance with Code Section 132(f) or to any cafeteria plan or flexible benefits plan established by the Company in accordance with Code Section 125 and related sections of the Code, but excluding severance pay, cost of living
pay, housing pay, relocation pay (including mortgage interest differential) and all such other taxable and non-taxable fringe benefits and extraordinary compensation, all as determined by the Committee in its sole and absolute discretion. For
purposes of determining Average Monthly Compensation, the Compensation taken into account with respect to any Plan Year shall not exceed the limitation determined pursuant to the terms of this Section 2.18 as applicable for such Plan Year. For
purposes of determining an Accrued Benefit, if an Employee is credited with less than two thousand eighty (2,080) Hours of Service for determining Benefit Service during a Plan Year, his Compensation for that Plan Year shall be the product of his
actual Compensation for such Plan Year as described above multiplied by a fraction the numerator of which is two thousand eighty (2,080) and the denominator of which is the number of Hours of Service with which he is credited for such Plan Year. For
purposes of calculating a Participant’s “Compensation” and a Participant’s “Average Monthly Compensation” under the Plan, compensation which was recognized as “compensation” for purposes of calculating
benefits pursuant to the terms of the Prior Williams Plan will be considered for purposes of determining both Compensation and Average Monthly Compensation pursuant to the terms of this Plan, but only for purposes of calculating the Prior Williams
Plan Benefit, and who was an active participant in the Prior Williams Plan on December 31, 2003, and such participant became an Employee of the Company or any Affiliate on January 1, 2004. With respect to any other Employee who is hired by the
Company or an Affiliate after January 1, 2004, and such individual had previously been employed by Williams Companies, Inc. or any of its Affiliates and was a participant in the Prior Williams Plan, then, for calculating such Participant’s
“compensation” and “Average Monthly Compensation” under the Plan, such calculation shall be based only on Compensation paid to such Participant while employed by the Company or any Affiliate. As used herein, Earned Income means
the net earnings from self-employment in a trade or business with respect to which the Plan is established by the Employer for which personal services of the individual are a material income-producing factor regardless of the manner in which such
earnings are reported. Net earnings will be determined without regard to items not included in gross income and the deductions allocable to such items. Net earnings are reduced by contributions by the Employer to a qualified plan to the extent
deductible under Section 404 of the Code. Net earnings shall be determined with regard to the deduction allowed to the Employer by Section 164(f) of the Code for taxable years beginning after December 31, 1989. 
  
 2.19 “Computation Period” means, with respect to each type
of service to be measured, the following periods of time: 
  
 (a)
With respect to Eligibility Service, the twelve-consecutive month period following the first Employment Date of an Employee (or, if such Eligibility Service can be disregarded under the break-in-service provisions of this Plan or the Prior Williams
Plan, his first Employment Date thereafter) and anniversaries thereof; 
  
 (b) With respect to Vesting Service, a Plan Year; and 
  
 (c) With respect to Benefit Service, a Plan Year. 
  

 5 

 2.20 “Covered Compensation” means, for any Plan Year (except as provided in Section 5.3
concerning determination of a Disability Pension) and with respect to each Participant, the average (without indexing) of the social security taxable wage bases in effect for each calendar year during the thirty-five-calendar-year-period ending with
the calendar year such Participant attains (or will attain) his Social Security Retirement Age. Such thirty-five-calendar-year-period shall be used for each Participant regardless of the year of birth of such Participant. In determining any
Participant’s Covered Compensation for any Plan Year, the social security taxable wage base for such Plan Year (and each subsequent Plan Year) shall be assumed to be the same as the social security taxable wage base in effect as of the first
day of such Plan Year. A Participant’s Covered Compensation for any Plan Year after such thirty-five-calendar-year-period is such Participant’s Covered Compensation for the Plan Year in which such Participant attained his Social Security
Retirement Age. A Participant’s Covered Compensation for any Plan Year prior to such thirty-five-calendar-year-period is the social security taxable wage base in effect as of the first day of such Plan Year. Each Participant’s Covered
Compensation shall be automatically adjusted for each Plan Year, to the extent his Covered Compensation is then subject to adjustment under this Section 2.20. 
  

2.21 “Death Benefit” means the benefit provided under Article VII of this Plan to the Surviving Spouse or other Beneficiary of a
Participant. 
  
 2.22 “Deferred Vested Pension”
means the type of Pension described in Section 5.4. 
  
 2.23
“Disability” means a physical or mental condition which (a) satisfies the initial requirements for disability payments under the Employer maintained long-term disability plan. 
  
 2.24 “Disability Pension” means the type of Pension
described in Section 5.3. 
  
 2.25 “Early
Pension” means the type of Pension described in Section 5.2. 
  
 2.26 “Effective Date” means January 1, 2004, the general effective date of this Plan. 
  
 2.27 “Eligibility Service” means all of the full and partial Years of Service of an Employee with an Employer or Affiliate and any other
service with the Company or an Affiliate as a Leased Employee, if such service would have constituted a Year of Service under the applicable provisions of this Plan, if the Leased Employee had been a common law employee of the Company. Eligibility
Service shall not include: 
  
 (a) Years of Service before
January 1, 2004, if under the break-in-service provisions of this Plan or the Prior Williams Plan in effect on December 31, 2003, such service was not taken into account in determining such Employee’s Eligibility Service; and 
  
 (b) Years of Service credited before a One Year Break-in-Service, if an
Employee has no vested interest in his Accrued Benefit derived from Employer Contributions at such time and the number of consecutive One Year Breaks-in-Service equals or exceeds the greater of (i) five (5) or (ii) the Years of Service earned by the
Employee before the first One Year Break-in-Service. 
  

 6 

 Years of Service that are not taken into account by reason of the exclusions set forth above shall not be taken into
account in applying the provisions of this Section 2.27 to a subsequent One Year Break-in-Service. 
  
 2.28 “Eligible Employee” means any Employee of an Employer, but does not include: 
  
 (a) A Leased Employee; 
  
 (b) an Employee who is a member of a group of Employees represented by a
collective bargaining representative, unless a currently effective collective bargaining agreement between his Employer and the collective bargaining representative of the group of Employees of which he is a member expressly provides for coverage by
this Plan; 
  
 (c) an Employee who, after the Effective Date, is
then accruing a benefit under the terms of any employee pension benefit plan maintained outside of this Plan at such time, sponsored by an Employer and intended to meet the requirements of Code Section 401(a); 
  
 (d) an Employee who is not a resident of the United States and not a citizen
of the United States; 
  
 (e) a nonresident alien; 
  
 (f) a seasonal employee, a temporary employee, a term employee, or an
employee not employed on a regularly scheduled basis; 
  
 (g) a
person who has a written employment contract or other contract for services, unless such contract expressly provides that such person is an employee; 
  
 (h) a person who is paid through the payroll of a temporary agency or similar organization regardless of any subsequent reclassification as a common law
employee; 
  
 (i) a person who is designated, compensated or
otherwise treated as an independent contractor by an Employer regardless of any subsequent reclassification as a common law employee; 
  
 (j) a person who is designated, compensated or otherwise treated as a cooperative education employee; 
  
 (k) a person excluded by the document of adoption of an Employer; 

 
 (l) an individual who is not contemporaneously classified as an Employee
for purposes of the Employer’s payroll system. In the event any such individual is reclassified as an Employee for any purpose, including, without limitation, as a common law or statutory employee, by any action of any third party, including,
without limitation, any government agency, or as a result of any private lawsuit, action or administrative proceeding, such individual will, notwithstanding such reclassification, remain ineligible for participation hereunder and will not be
considered an Eligible Employee. In addition to and not in derogation of the foregoing, the exclusive means for an individual who is not contemporaneously classified as an Employee of the Employer on the Employer’s payroll system to become
eligible to participate in this Plan is through an amendment to this Plan which specifically renders such individual eligible for participation hereunder; or 
  

 7 

 (m) any individual retained by an Employer directly or through an agency or other party to perform
services for an Employer (for either a definite or indefinite duration) in the capacity of a fee-for-service worker or independent contractor or any similar capacity including, without limitation, any such individual employed by temporary help
firms, technical help firms, staffing firms, employee leasing firms, professional employer organizations or other staffing firms, whether or not deemed to be a “common law” employee. 
  
 Notwithstanding the foregoing an Eligible Employee also includes a partner who is an
executive officer (a “Self Employed Individual”) of the Employer who has Earned Income for the taxable year from the trade of business for which the Plan is adopted and established; and, such definition shall also include an individual who
would have had Earned Income but for the fact that the trade or business had not “net profits” for the taxable year. 
  
 2.29 “Employee” means any common law employee of an Employer or Affiliate, and any person granted such status in accordance with an
Employer’s uniform and nondiscriminatory policies regarding an Authorized Leave of Absence. Employee also includes a Self-Employed Individual. Further as used herein, Employment includes service of a Self-Employed Individual with the Employer.

  
 2.30 “Employer” means the Company and any
Affiliate which, pursuant to the provisions of Article XIV, has adopted this Plan. 
  
 2.31 “Employer Contributions” mean the contributions by Employers to the Trust for this Plan. 
  
 2.32 “Employment Date” means the day an Employee first earns an Hour of Service, or in the case of an Employee whose Eligibility Service
and Vesting Service can be disregarded under the break-in-service provisions of this Plan or a Prior Williams Plan, the first day following his last One Year Break-in-Service in which the Employee earns an Hour of Service. 
  
 2.33 “ERISA” means the Employee Retirement Income Security
Act of 1974, as from time to time amended. 
  
 2.34 “Hour
of Service” means a unit of service used by the Plan to determine an Employee’s Years of Service credited as follows: 
  
 (a) each hour for which the Employee is paid, or entitled to payment, directly or indirectly, for the performance of duties from an Employer or an
Affiliate; provided, however, if records of such actual hours are not maintained for an Employee, such Employee shall be credited with 190 Hours of Service for each month in which the Employee is paid, or entitled to payment, with respect to one
Hour of Service. The term shall include service of a Self-Employed individual with the Employer 
  
 (b) each hour for which backpay, irrespective of mitigation of damages, is awarded to the Employee or agreed to by the Employer or an Affiliate;

  

 8 

 (c) each hour an Employee is paid or entitled to payment by an Employer or an Affiliate on account of a
period of time during which no duties are performed due to vacation, holiday, illness, incapacity (including disability), lay-off, jury duty, military duty or leave of absence. An Hour of Service for which an Employee is directly or indirectly paid
or entitled to payment on account of a period during which the Employee performed no duties shall not be credited to the Employee, if such payment is made or due under a plan maintained solely for the purpose of complying with any applicable
worker’s compensation, disability insurance, or unemployment compensation law. Hours of Service also shall not be credited for a payment which solely reimburses the Employee for medical or medically related expenses incurred by the Employee.
Not more than five hundred one (501) Hours of Service shall be credited under this subsection (c) to the Employee on account of any single continuous period during which the Employee performs no duties (whether or not such period occurs in a single
Computation Period). For purposes of this subsection (c), a payment shall be deemed to be made by or due from an Employer regardless of whether such payment is made by or due from an Employer directly, or indirectly through, among others, a trust
fund, insurer or other entity to which an Employer contributes or pays premiums and regardless of whether contributions made or due to the trust fund, insurer or other entity are for the benefit of particular employees or are on behalf of a group of
employees in the aggregate; 
  
 (d) Solely for purposes of
determining whether an Employee has incurred a One Year Break-in-Service, an Employee who is not otherwise credited with an Hour of Service under subsection (a), (b) or (c), above, shall be credited with an Hour of Service for each additional hour
which is part of an Employee’s customary work week with an Employer or Affiliate during which the Employee is on an unpaid Authorized Leave of Absence, provided the Employee resumes employment with an Employer or Affiliate upon the expiration
of such Authorized Leave of Absence. For purposes of this subsection (d), an Employee’s customary work week will consist of five (5), eight-hour days; 
  
 (e) Solely for purposes of determining whether a One Year Break-in-Service has occurred for purposes of determining Eligibility Service, Vesting Service
and Years of Participation (but not for purposes of Benefit Service), an Employee who is absent from work beginning on or after January 1, 1985 for maternity or paternity reasons and who is not otherwise credited with an Hour of Service under
subsections (a), (b), (c) or (d) above, shall receive credit for the Hours of Service for which he would have been regularly scheduled had the Employee performed duties during such absence for an Employer or Affiliate, or in the absence of a
regularly scheduled number of hours, forty (40) hours per week (or eight (8) hours per day). For purposes of such determination, an absence from work for maternity or paternity reasons means an absence (i) by reason of the pregnancy of the Employee,
(ii) by reason of the birth of a child of such Employee, (iii) by reason of the placement of a child with the Employee in connection with the adoption of such child by the Employee, or (iv) for purposes of caring for such child for a period
beginning immediately following such birth or placement. Hours of Service credited for purposes of such determination shall be credited in the Computation Period in which such absence begins, if necessary to prevent a One Year Break-in-Service in
such period, or, in all other cases, in the next following Computation Period. In no event will more than five hundred one (501) Hours of Service be credited for any single continuous period of time during which the person did not or would not have
performed duties. The Committee may, in its discretion, require an Employee who is absent from work for maternity or paternity reasons to furnish information to the Committee to establish that the Employee’s absence from work is for 

 

 9 

 maternity or paternity reasons and the number of days of such absence. The Company reserves the right to terminate the
employment of any Employee who is absent from work without authorization, without regard to whether such Employee is entitled to be credited for Hours of Service pursuant to this subsection (e); 
  
 (f) The same Hours of Service shall not be credited more than once under the
foregoing subsections. The determination of Hours of Service for reasons other than the performance of duties shall be made in accordance with the provisions of Labor Department Regulations, C.F.R. §2530.200b-2(b) (1976); and Hours of Service
shall be credited to Computation Periods in accordance with the provisions of Labor Department Regulations, C.F.R. § 2530.200b-2(c) (1976). 
  
 2.35 “Key Employee” means each Employee and former Employee described in Section 16.1(d). 
  
 2.36 “Leased Employee” means an individual who is not in the
employ of an Employer or an Affiliate and who, pursuant to an agreement between an Employer or an Affiliate and any other person (“leasing organization”), provides services to such Employer or Affiliate and has provided services to an
Employer or an Affiliate on a substantially full-time basis for a period of at least one year, with such services being (i) prior to January 1, 1997, of the type historically performed by employees in the business field of such Employer or
Affiliate, or (ii) after December 31, 1996, performed under the primary direction or control of such Employer or Affiliate. Provided, however, if such individuals constitute less than twenty percent of the non-highly compensated workforce (within
the meaning of Code Section 414(n)(5)(C)(ii)) of such Employer or Affiliate and the Affiliates of each of them, such an individual shall not be included in such meaning if such leasing organization covers such an individual in a money purchase
pension plan which provides immediate participation, full and immediate vesting and a non-integrated contribution formula equal to at least ten percent of such individual’s annual compensation (as defined in Code Section 415(c)(3)); and
provided further, if such individual shall be deemed to be, or treated as, an Employee of an Employer or an Affiliate, any contributions or benefits provided by such leasing organization which are attributable to services of such individual
performed for an Employer or an Affiliate shall be treated as provided by such Employer or Affiliate. 
  
 2.37 “Lump Sum” means the optional form of payment described in Subsection 8.2(e), Section 8.4, and the small lump sum described in
Subsection 12.2(a). 
  
 2.38 “Normal Pension”
means the type of Pension described in Section 6.1. 
  
 2.39
“Normal Retirement Age” means the Participant’s attainment of age sixty-five (65). 
  
 2.40 “Normal Retirement Date” means the first day of the month coinciding with or next following the Participant’s Normal Retirement
Age. The Accrued Benefit of a Participant who is an Employee of the Employer on his Normal Retirement Age shall become nonforfeitable on and after such date. 
  

 10 

 2.41 “One Year Break-In-Service” means a Computation Period within which an Employee is
credited with not more than five hundred (500) Hours of Service. 
  
 2.42 “Participant” means each person who is participating in this Plan pursuant to the provisions of Article III. 
  
 2.43 “Pension” means a series of monthly amounts which are payable to a person who is entitled to receive benefits pursuant to this Plan.

  
 2.44 “Plan” means the Magellan Pension Plan,
as hereafter from time to time amended. 
  
 2.45 “Plan
Year” means the twelve (12) consecutive month period beginning on January 1 and ending December 31. 
  
 2.46 “Prior Service” means the number of Years of Service recognized as Years of Vesting Service under the Prior Williams Plan as of
December 31, 2003. 
  
 2.47 “Prior Williams Plan”
means The Williams Pension Plan as it existed on December 31, 2003. 
  
 2.48 “Prior Williams Plan Benefit” means a participant’s vested accrued benefit under the Prior Williams Plan determined as of December 31, 2003 as set forth in Appendix 1 attached hereto. 
  
 2.49 “Procedure” means the Procedure for Identification and
Processing of Qualified Domestic Relations Orders, which is described in Article XVIII. 
  
 2.50 “Qualified Joint and Survivor Pension” means a monthly payment for the life of the Participant and, if the Participant is married on the date the payment of such Pension begins, a monthly payment
to such Spouse after his death for life in an amount equal to one hundred percent (100%) in the case of a Pension based upon his Accrued Benefit and fifty percent (50%) in the case of a Pension based upon his Accrued Benefit, of the monthly Pension
payable during the joint lives of the Participant and his Spouse. A Qualified Joint and Survivor Pension shall be the actuarial equivalent of the Accrued Benefit of a Participant. The monthly amount of such payments shall be determined under Option
1, Option 2, or Option 3, as applicable, of Section 8.2. 
  
 2.51
“Qualified Domestic Relations Order” means the type of court order or decree described in the Procedure. 
  
 2.52 “Retirement” means Termination of Employment after an Employee has fulfilled all requirements for a Pension other than any attained
age requirement. Retirement shall be considered as commencing on the day immediately following an Employee’s last day of employment or Authorized Leave of Absence, if later. 
  
 2.53 “Separation Benefit” means a special benefit determined in accordance with Section 7.1. 
  

 11 

 2.54 “Single Life Annuity” means the optional form of Pension described in Section
8.2(e). 
  
 2.55 “Social Security Retirement Age”
means, with respect to each Participant, the social security retirement age of such Participant as determined under Code Section 415(b)(8) and the regulations thereunder. 
  
 2.56 “Spouse” means the person to whom a Participant is married and/or any former spouse to the extent
provided in a Qualified Domestic Relations Order and allowed under Code Section 414(p). 
  
 2.57 “Spouse’s Consent” means the written, irrevocable consent of the Spouse of a Participant to a specific election of a form of distribution other than a Qualified Joint and Survivor Pension or
Survivor Pension coverage for such Spouse and, if applicable, the specific designation of any Beneficiary or contingent pensioner other than such Spouse, which consent acknowledges the effect thereof on the rights of such Spouse concerning the
Participant’s Accrued Benefit, with such consent being acknowledged before a Plan representative or notary public. Such election of a form and, if applicable, a Beneficiary or contingent annuitant cannot be changed by the Participant to a form
other than a Qualified Joint and Survivor Pension with such Spouse as the contingent pensioner without being accompanied by a new Spouse’s Consent of such Spouse, unless the preceding Spousal Consent (i) expressly permits the Participant to
change an elected form of distribution and designation of contingent pensioner or Beneficiary without a new Spouse’s Consent of such Spouse, and such preceding Spouse’s Consent acknowledges that the Spouse has the right to limit consent to
the specifically elected form of distribution and, if applicable, the specific contingent annuitant or Beneficiary; provided, however, if the designated Beneficiary is a trust, a Spouse’s Consent shall be required, and applicable to, the
Participant’s designation of such trust and shall not be required, nor applicable to, the designation of trust beneficiaries or any changes in trust beneficiaries. A Spouse’s Consent is binding only with respect to the consenting Spouse. A
Spouse’s Consent shall not be required if it is established to the satisfaction of the Committee that the Participant is not married, the Participant’s Spouse cannot be located or on account of other circumstances as the Secretary of the
Treasury may prescribe by regulation. No Spouse’s Consent shall be valid or effective unless and until filed with the Committee. 
  
 2.58 “Surviving Spouse” means the person to whom a Participant is married on the date of his death and/or any former spouse to the extent
provided in a Qualified Domestic Relations Order and allowed under Code Section 414(p); provided, however, a Spouse shall not be a Surviving Spouse for purposes of eligibility for the survivor portion of any Pension paid to a Participant hereunder,
unless such Spouse was married to the Participant on his Annuity Starting Date. 
  
 2.59 “Survivor Pension” means a monthly amount payable for life to the Surviving Spouse or Beneficiary of a Vested Participant who died prior to the Annuity Starting Date of his benefits under this
Plan. Unless otherwise provided in this Plan, the amount of such monthly payments shall be equal to the amount payable to the Surviving Spouse or Beneficiary as a Single Life Annuity as if such Surviving Spouse or Beneficiary was a Participant (or
the Actuarial Equivalent thereof); provided, however, payment to a Beneficiary which is not a living person shall be made solely as a single-sum of all or a portion of the Participant’s Pension as designated by the Participant pursuant to
Section 7.3. 
  

 12 

 2.60 “Termination of Employment” means a separation from service that occurs when:

  
 (a) an Employee ceases to be employed by an Employer or an
Affiliate, or 
  
 (b) a person fails to report for work with an
Employer or an Affiliate, at the termination of an Authorized Leave of Absence. 
  
 A transfer of employment from one Employer or Affiliate to another Employer or Affiliate shall not constitute a Termination of Employment for purposes of the Plan. A person shall not be considered to have incurred a Termination of
Employment due to his having entered the Armed Forces or Merchant Marine of the United States unless it is determined by the Committee that he has no reemployment rights under the law. Upon the sale of all of the stock or substantially all of the
assets used in a trade or business of any subsidiary of the Company which has adopted the Plan as an Employer prior to such sale, a Termination of Employment shall occur on the date of such sale with respect to any Employee who continues in
employment with the purchaser of such assets or with such subsidiary, as the case may be, provided the following conditions (as recognized in General Counsel Memorandum 39824, August 15, 1990) are met: 
  

	 	(1)	the Company continues to maintain the Plan after such sale; 

  

	 	(2)	the subsidiary withdraws as an Employer under the Plan prior to such sale; 

  

	 	(3)	the purchaser of such subsidiary’s stock or assets (“Purchaser”) does not adopt the Plan; 

  

	 	(4)	the Purchaser is not an Affiliate; and 

  

	 	(5)	no assets or liabilities of the Plan are transferred to a defined benefit plan maintained by the Purchaser, the subsidiary or any affiliate of either within the meaning of Code
Sections 414(b), (c) or (m). 

  
 After incurring a Termination of
Employment, a terminated person shall not be eligible for or credited with Hours of Service or Years of Service for any purpose under the Plan with respect to any period after such Termination of Employment. 
  
 2.61 “Trust” means the legal entity resulting from the Trust
Agreement. 
  
 2.62 “Trust Agreement” means the
agreement between the Company and the Trustee establishing the Trust, and any amendments thereto. 
  
 2.63 “Trustee” means the entity which is serving as Trustee under the Trust Agreement. 
  
 2.64 “Trust Fund” means any property, real or personal,
received by the Trustee, plus all income and gains and minus losses, expenses and distributions chargeable thereto. 
  

 13 

 2.65 “Vesting Service” means the sum of: 
  
 (a) The Employee’s Prior Service determined as of December 31, 2003,
under the provisions of the Prior Williams Plan then in effect; plus 
  
 (b) all Years of Service earned after the Effective Date; and 
  
 (c) all other service with an Employer or an Affiliate as a Leased Employee, if such service would have constituted a Year of Service under the applicable provisions of this Plan, if the Leased Employee had been a common law employee of
such Employer or Affiliate; 
  
 but, excluding (1) any Years of Service before
January 1, 2004, if under the break-in-service provisions of this Plan or the Prior Williams Plan in effect for such periods, such service was not taken into account, and (2) any Years of Service earned prior to a One Year Break-in-Service, if the
Employee did not have a nonforfeitable interest in his Accrued Benefit derived from Employer Contributions before the One Year Break-in-Service began and if the number of consecutive One Year Breaks-in-Service equals or exceeds the greater of (i)
five (5) or (ii) the Employee’s Vesting Service earned before the One Year Break-in-Service. Service not required to be taken into account by reason of the exclusions set forth above shall not be taken into account in applying this Section 2.65
to a subsequent One Year Break-in-Service. 
  
 2.66
“Vested Participant” means any Participant who has a nonforfeitable right to any portion of his Accrued Benefit. 
  
 2.67 “Year of Service” means: 
  
 (a) with respect to Eligibility Service, the sum of the Prior Service of the Participant plus each Computation Period during which the person earns at
least one thousand (1,000) Hours of Service; 
  
 (b) with respect
to Vesting Service, the sum of the Prior Service of the Participant plus each Computation Period ending after December 31, 2003, during which the person earns at least one thousand (1,000) Hours of Service; 
  
 (c) with respect to Benefit Service, the sum of (i) the Benefit Service
earned by a person before the Effective Date under the Prior Williams Plan and (ii) each Computation Period beginning on or after January 1, 2004, during which an Eligible Employee earns at least one thousand (1,000) Hours of service with an
Employer, with each Eligible Employee receiving one hundred ninety (190) Hours of service credit for each month, or portion thereof, worked during the Computation Period. If an Eligible Employee earns less than one thousand (1,000) Hours of Service
during any such Computation Period, a fraction of a year of Benefit Service shall be earned by the Eligible Employee, the numerator of which shall be the Eligible Employee’s actual Hours of Service earned with an Employer during such
Computation Period and the denominator of which shall be one thousand (1,000); and 
  
 (d) with respect to Eligibility Service, Vesting Service and Benefit Service, such service as may be granted by the Committee or the Board of Managers, where appropriate, in accordance with an Employer’s uniform
and nondiscriminatory policies regarding an Authorized Leave of Absence. 
  

 14 

 ARTICLE III. 
  
 Participation 
  
 3.1 Participation. Each Eligible Employee who was, as of December 31, 2003, a Participant in the Prior Williams Plan shall continue after such date
as a Participant in this Plan. Each other Eligible Employee shall become a Participant in this Plan on the first day of the calendar month coincident with or next following the date he is credited with one year of Eligibility Service. A Participant
shall continue participating in this Plan until the earlier of his death or the distribution or forfeiture of his entire Accrued Benefit in accordance with the terms and conditions of this Plan. 
  
 3.2 Reemployment. Each Participant who incurs a Termination of
Employment and is reemployed as an Eligible Employee at a time when he retains credited Eligibility Service shall resume participation in the Plan as of the date he is credited with an Hour of Service after becoming so reemployed. 
  
 3.3 Veteran’s Rights. Notwithstanding any provision of the Plan
to the contrary, contributions, benefits and service credit under the Plan with respect to qualified military service shall be provided in accordance with Code Section 414(u). 
  

 15 

 ARTICLE IV. 
  
 Contributions 
  
 4.1 Participant Contributions. No contributions to this Plan shall be made by Participants. 
  
 4.2 Employer Contributions. The Employers, acting under the advice of
the Actuary for the Plan, shall make contributions to the Trust in such amounts and at such times as are required to comply with Code Section 412. Such contributions shall be applied to provide benefits under this Plan and to pay the expenses of
this Plan. Forfeitures shall be applied to reduce future Employer Contributions. 
  
 4.3 Rollover Contributions. No rollover contributions of any nature or description, whether direct or indirect, shall be made to this Plan by any Employee or Participant or any other person. 
  

 16 

 ARTICLE V. 
  
 Retirement Benefits 
  
 5.1 Normal and Late Retirement. A Participant shall be eligible for a Normal Pension under this Plan, if his Termination of Employment occurs on or
after his Normal Retirement Date. Payment of a Normal Pension to the Participant shall begin as of the Annuity Starting Date and shall continue in accordance with the terms of the form of payment applicable to such Participant. The amount of such
Normal Pension shall be determined under Section 6.1. The form of such Normal Pension shall be determined under Article VIII. 
  
 5.2 Early Retirement. A Participant shall be eligible for an Early Pension under this Plan, if his Termination of Employment is on or after his
fifty-fifth (55th) birthday and before his Normal Retirement Date and he has completed five (5) or more years of Vesting Service. Payment of an Early Pension to the Participant shall begin as of his Annuity Starting Date and shall continue in
accordance with the terms of the form of payment applicable to such Participant. The amount of such Early Pension shall be determined under Section 6.2. The form of such Early Pension shall be determined under Article VIII. 
  
 5.3 Disability Retirement. A Participant shall be eligible for a
Disability Pension under this Plan, if his Termination of Employment is on account of Disability and occurs after he has completed five (5) or more years of Vesting Service, but prior to his Normal Retirement Date. Payment of a Disability Pension to
the Participant shall begin on the Annuity Starting Date and shall continue in accordance with the terms of the form of payment applicable to such Participant. The form of such Disability Pension shall be determined under Article VIII. The amount of
such Disability Pension shall be determined as follows: 
  
 (1) If a Disability continues to the Participant’s Normal Retirement Date, such Participant shall be entitled to a Disability Pension based on his Compensation (subject to applicable limitations), Covered
Compensation and Benefit Service to the date of Disability and Benefit Service credit for the period of Disability; 
  
 (2) If a Disability ceases prior to the Participant’s Normal Retirement Date and the Participant is reemployed by an Employer as an
Eligible Employee, upon his subsequent Termination of Employment such Participant shall be entitled to receive a Normal Pension, Early Pension or Deferred Vested Pension, as applicable, determined by his attained age on the date of such Termination
of Employment. Such Normal Pension, Early Pension or Deferred Vested Pension shall be based on his Compensation (subject to applicable limitations), Covered Compensation and Benefit Service to the date of Disability, Benefit Service credit for the
period of Disability, and his Benefit Service, Covered Compensation and Compensation during the period of reemployment, reduced, if applicable, in accordance with Section 6.2 or 6.4, based on the number of years by which the Annuity Starting Date of
the Early Pension or Deferred Vested Pension precedes the Participant’s Normal Retirement Date; and 
  

 17 

 (3) If a Disability ceases prior to the Participant’s Normal Retirement Date and he
is not reemployed by an Employer as an Employee (or is reemployed as an Employee but not an Eligible Employee), he shall be entitled to receive, commencing on the first day of the month coinciding with or next following the latest of (i) his
fifty-fifth (55th) birthday, (ii) the cessation of such Disability, or (iii) the date of his subsequent Termination of Employment, an Early Pension or Deferred Vested Pension, as applicable, to which he would have been entitled as of the date of
such cessation of such Disability. Such Early Pension or Deferred Vested Pension shall be based on his Compensation (subject to applicable limitations), Covered Compensation and Benefit Service to the date of Disability and Benefit Service to the
date of cessation of such Disability (or, if applicable, date of Termination of Employment), but in neither case beyond his Normal Retirement Date, reduced, if applicable, in accordance with Sections 6.2 and 6.4, based on the number of years by
which the Annuity Starting Date of the Early Pension or Deferred Vested Pension precedes the Participant’s Normal Retirement Date. 
  
 5.4 Deferred Vested Retirement. A Participant who is not eligible for a Pension under Sections 5.1, 5.2 or 5.3 shall be eligible for a Deferred
Vested Pension, if his Termination of Employment is on or after the completion of five (5) or more years of Vesting Service. Payment of a Deferred Vested Pension to the Participant shall begin on the Annuity Starting Date and shall continue in
accordance with the form of payment applicable to such Participant. The amount of such Deferred Vested Pension shall be determined under Section 6.4. The form of such Deferred Vested Pension shall be determined in accordance with Article VIII.

  
 5.5 Transferred Employee Retirement. Requirements for
Pension benefits or other benefits, if any, payable under this Plan in cases of transfers of employment by Employees between Employers or between an Employer and an Affiliate, shall be determined in accordance with the provisions of Article IX.

  
 5.6 Annuity Starting Date. Subject to the provisions of
Sections 5.7 and 5.8, Pensions and other benefits payable under this Plan shall commence and be payable in accordance with the following: 
  
 (a) In the case of a Normal Pension payable under Section 5.1, the Annuity Starting Date shall be the earlier of (i) the first day of the month next
following a Participant’s Termination of Employment, or (ii) April 1 of the calendar year following the calendar year in which such Participant attains age seventy and one-half (70 1/2); 
  
 (b) In the case of a Pension payable under Section 5.2, 5.3, 5.4, or 5.5 and a Separation Benefit payable to a Participant under Section 7.1, the Annuity
Starting Date shall be the first day of the month coincident with or next following the Participant’s Normal Retirement Date, or if earlier, the date established by the Committee in response to the Participant’s written request for early
payment, but in no event earlier than the first day of the month coincident with or next following the date the Participant attains age fifty-five (55) in the case of such a Pension. Early commencement of a Pension is subject to the restrictions
imposed by Section 8.4; 
  

 18 

 (c) In the case of a Pension or Separation Benefit described in subsections (a) or (b) above, the Annuity
Starting Date shall in all events be not later than sixty (60) days after the last day of the Plan Year in which occurs the latest of the following events: 
  
 (1) The Participant’s Normal Retirement Date; 
  
 (2) The tenth anniversary of the date on which the Participant commenced participation in the Plan; or

  
 (3) The Participant’s Termination of
Employment; and 
  
 (d) In the case of a Survivor Pension, the
Annuity Starting Date shall be the first day of the month: 
  
 (1) next following the Participant’s date of death, if the Participant had then attained age sixty-five (65); or 
  
 (2) in which the Participant would have attained age sixty-five (65), if the Participant dies prior to attaining such age. 
  
 A Surviving Spouse may irrevocably elect, on a form provided for such
purpose by the Committee, to accelerate the Annuity Starting Date of a Survivor Pension to the first day of the month next following the date of the Participant’s death or the first day of any month thereafter, but no later than the first day
of the month in which the Participant would have attained age sixty-five (65); and 
  
 (e) If payment of a Survivor Pension based upon a Participant’s Accrued Benefit commences to the Surviving Spouse of a Participant who was either (i) an Employee, or (ii) eligible for an Early Pension before the
first day of the month in which such Participant would have attained age sixty-two (62), such Survivor Pension shall be reduced in accordance with the provisions of Section 6.2(b) based upon the age the Participant would have attained as of the
Annuity Starting Date; provided, however, no reduction shall be made for any period prior to the date such Participant would have attained age fifty-five (55). If payment of a Survivor Pension commences to the Surviving Spouse of a Participant who
was eligible for a Deferred Vested Pension before the first day of the month in which such Participant would have attained age sixty-five (65), such Survivor Pension shall be reduced in accordance with the provisions of Section 6.4(b) based on the
age such Participant would have attained as of the Annuity Starting Date. 
  
 5.7 Distribution Requirements. In addition to the requirements of Section 5.6 and subject to the provisions of Section 5.8, distributions to a Beneficiary in the event of the death of a Participant shall be
made in accordance with the following: 
  
 (a) In the event
distribution of a Participant’s Pension has commenced before the Participant’s death, the remaining interest thereof, if any, shall be distributed at least as rapidly as under the method of distribution being used as of the
Participant’s date of death; and 
  

 19 

 (b) In the event distribution of a Participant’s Pension has not commenced before the
Participant’s death, distribution of any distributable portion thereof shall be made in accordance with the following: 
  
 (1) Any portion of such Participant’s interest which is not payable to a Beneficiary designated by such Participant shall be
distributed within five (5) years of such Participant’s date of death; and 
  
 (2) Any portion of such Participant’s interest which is payable to a Beneficiary designated by such Participant shall be distributed
over the life of such Beneficiary or a period not exceeding the life expectancy of such Beneficiary, commencing not later than (i) if such Beneficiary is other than such Participant’s Surviving Spouse, one (1) year after the Participant’s
date of death, or (ii) if such Beneficiary is such Participant’s Surviving Spouse, (A) the date on which such Participant would have attained age seventy and one-half (70 1/2), if such Participant dies before attaining such age, or (B) one (1) year after such Participant’s date of death, if such Participant dies after attaining age seventy and
one-half (70 1/2). 
  
 5.8 Required Information. Any Participant and any Beneficiary eligible to receive benefits under the Plan shall
furnish to the Committee any information or proof requested by the Committee and reasonably necessary for proper administration of the Plan. Failure by such Participant or such Beneficiary to comply with any such request within a reasonable period
of time and in good faith shall be sufficient grounds for delay in payment of benefits under the Plan until sixty (60) days after such information or proof is received by the Committee. 
  
 5.9 Direct Rollovers. 
  
 (a) Distributee’s Election: Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee’s election
hereunder, a Distributee may elect, at the time and in the manner prescribed by the Committee, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover.

  
 (b) Definitions: For purposes of this Section 5.9, the
following words and phrases shall have the meanings set forth below when used in the capitalized form, unless a different meaning is clearly warranted by the context: 
  
 (1) “Direct Rollover” shall mean a payment by the Plan to the Eligible Retirement Plan
specified by the Distributee. 
  
 (2)
“Distributee” shall mean a person who is (i) an Employee or former Employee, (ii) the surviving spouse of an Employee or former Employee, or (iii) the spouse or former spouse of an Employee or former Employee who is the Alternate
Payee under a “qualified domestic relations order,” as defined in Code Section 414(p). 
  
 (3) “Eligible Retirement Plan” shall mean an individual retirement account described in Code Section 408(a), an
individual retirement annuity 
  

 20 

 described in Code Section 408(b), an annuity plan described in Code Section 403(a), or a qualified trust
described in Code Section 401(a), that accepts the Distributee’s Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving spouse, an Eligible Retirement Plan is an individual retirement account
or individual retirement annuity. An Eligible Retirement Plan shall also mean an annuity contract described in Code Section 403(b) and an eligible Plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or
any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan. The definition of eligible retirement plan shall also apply in the case of a
distribution to a surviving spouse, or to a spouse or former spouse who is the alternate payee under a Qualified Domestic Relation Order, as defined in Code Section 414(p). 
  
 (4) “Eligible Rollover Distribution” shall mean any distribution of all or any portion of
the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: any distribution which is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life
(or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such
distribution is required under Code Section 401(a)(9); and the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A
portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be paid only to an
individual retirement account or annuity described in Code Section 408(a) or (b), or to a qualified defined contribution plan described in Code Section 401(a) or 403(a) that agrees to separately account for amounts so transferred, including
separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. 
  

 21 

 ARTICLE VI. 
  
 Amount of Pension 
  
 6.1 Normal and Late Pension. Subject to Section 6.5 and Article XVI, a Participant, including a Participant who meets the requirements in Section
5.1 for a Normal Pension and retires on or after his Normal Retirement Date shall receive his Pension equal to the Actuarial Equivalent of his then Accrued Benefit. 
  
 6.2 Early Pension. 
  
 (a) Basic Formula. Subject to Section 6.5 and Article XVI, a Participant who meets the requirements in Section 5.2 for an Early Pension shall
receive the Actuarial Equivalent of his then Accrued Benefit. 
  
 (b) Reduction for Early Commencement. If payment of an Early Pension based on a Participant’s Accrued Benefit commences before a Participant’s Normal Retirement Date, such Early Pension shall be reduced for each full and
fractional year by which his Annuity Starting Date precedes the first day of the month coincident with or immediately following his Normal Retirement Date in accordance with the following provisions. The monthly amount payable as determined in
accordance with this Subsection (b) as of a Participant’s Annuity Starting Date shall remain in effect for as long as such Early Pension is payable thereafter. Such Early Pension shall be reduced for early commencement to a percentage thereof
determined in accordance with the following schedule: 
  

			
	 Number of Years of Early
 Commencement of
Early Pension

	  	 Percentage of
 Early Pension Payable

	                     65
	  	100
	                     64
	  	100
	                     62
	  	100
	                     61
	  	96
	                     60
	  	92
	                     59
	  	88
	                     58
	  	84
	                     57
	  	80
	                     56
	  	76
	                     55
	  	72

  
 The percentage
payable with respect to any fractional year shall be determined by straight-line interpolation between applicable percentages in the foregoing schedule. 
  
 6.3 Disability Pension. Subject to Section 6.5 and Article XVI, a Participant who meets the requirements in Section 5.3 for a Disability Pension
shall receive his Disability Pension determined in accordance with Section 5.3. 
  

 22 

 6.4 Deferred Vested Pension. 
  
 (a) Basic Formula. Subject to Section 6.5 and Article XVI, a Participant who meets the requirements in Section 5.4
for a Deferred Vested Pension shall receive the Actuarial Equivalent of his then Accrued Benefit. 
  
 (b) Reduction for Early Commencement. If payment of a Deferred Vested Pension based on a Participant’s Accrued Benefit commences before the
Participant’s Normal Retirement Date, such Deferred Vested Pension shall be reduced for each full and fractional year by which his Annuity Starting Date precedes the first day of the month coincident with or next following his Normal Retirement
Date in accordance with the following provisions. The monthly amount payable as determined in accordance with this subsection (b) as of a Participant’s Annuity Starting Date shall remain in effect for as long as his Deferred Vested Pension is
payable thereafter. 
  
 A Participant’s
Deferred Vested Pension based on his Accrued Benefit shall be reduced for early commencement to a percentage thereof determined in accordance with the following schedule: 
  

			
	 Age at Commencement of
 Deferred Vested
Pension

	  	Percentage of Deferred
Vested Pension Payable

	                 65
	  	100
	                 64
	  	91
	                 63
	  	82
	                 62
	  	75
	                 61
	  	68
	                 60
	  	62
	                 59
	  	57
	                 58
	  	52
	                 57
	  	48
	                 56
	  	44
	                 55
	  	40
	                 54
	  	37
	                 53
	  	34
	                 52
	  	31
	                 51
	  	29
	                 50
	  	27
	                 49
	  	25
	                 48
	  	23
	                 47
	  	21
	                 46
	  	20
	                 45
	  	18
	                 44
	  	17
	                 43
	  	16
	                 42
	  	15
	                 41
	  	13
	                 40
	  	13
	                 39
	  	12
	                 38
	  	11
	                 37
	  	10
	                 36
	  	9
	                 35
	  	9
	                 34
	  	8
	                 33
	  	8
	                 32
	  	7
	                 31
	  	7
	                 30
	  	6
	                 29
	  	6
	                 28
	  	5
	                 27
	  	5
	                 26
	  	5
	                 25
	  	4
	                 24
	  	4
	                 23
	  	4
	                 22
	  	3
	                 21
	  	3
	                 20
	  	3
	                 19
	  	3
	                 18
	  	3

  
 The percentage
payable with respect to any fractional year shall be determined by straight-line interpolation between applicable percentages in the foregoing schedule. 
  

 23 

 6.5 Maximum Pensions. Any Pension to which a Participant of this Plan is entitled at any time
during any Plan Year, when expressed as a pension payable on a Plan Year basis (which is the “Limitation Year” for this Plan), shall not exceed the person’s “Maximum Annual Benefit”. For purposes of this Section 6.5,
“Maximum Annual Benefit” shall mean an annual benefit payable during a Plan Year in an amount equal to (i) the lesser of One Hundred Sixty Thousand Dollars ($160,000) as adjusted by Code Section 415(d) (“Dollar Limitation”), or
(ii) one hundred percent (100%) of the person’s average annual Code Section 415 Compensation from an Employer or Affiliate for the person’s highest three (3) consecutive, twelve-month periods consistently used by the Committee (or the
actual number of consecutive twelve-month periods for persons who are employed less than three consecutive years) (“Compensation Limitation”), subject to the following: 
  
 (a) If the participant has fewer than 10 years of participation in the Plan, the Dollar Limitation shall be multiplied by a
fraction, (i) the numerator of which is the number of years (or part thereof) of participation in the Plan and (ii) the denominator of which is 10. In the case of a Participant who has fewer than 10 years of service with the Employer, the
Compensation Limitation shall be multiplied by a fraction, (i) the numerator of which is the number of years (or part thereof) of service with the Employer and (ii) the denominator of which is 10. 
  
 (b) If the benefit of a Participant begins prior to age 62, the Dollar
Limitation applicable to the Participant at such earlier age is an annual benefit payable in the form of a 
  

 24 

 straight life annuity beginning at the earlier age that is the Actuarial Equivalent of the Dollar Limitation applicable
to the participant at age 62 (adjusted under (a) above, if required). The Dollar Limitation applicable at an age prior to age 62 is determined as the lesser of (i) the Actuarial Equivalent (at such age) of the Dollar Limitation computed using the
interest rate and mortality table (or other tabular factor) specified in Section 2.2 of the Plan and (ii) the Actuarial Equivalent (at such age) of the Dollar Limitation computed using a 5 percent interest rate and the applicable mortality table as
defined in Section 2.2 of the Plan. Any decrease in the Dollar Limitation determined in accordance with this paragraph (b) shall not reflect a mortality decrement if benefits are not forfeited upon the death of the participant. If any benefits are
forfeited upon death, the full mortality decrement is taken into account. 
  
 (c) If the benefit of a Participant begins after the Participant attains age 65, the Dollar Limitation applicable to the Participant at the later age is the annual benefit payable in the form of a straight life
annuity beginning at the later age that is Actuarially Equivalent to the Dollar Limitation applicable to the Participant at age 65 (adjusted under (a) above, if required). The Actuarial Equivalent of the Dollar Limitation applicable at an age after
age 65 is determined as (i) the lesser of the Actuarial Equivalent (at such age) of the Dollar Limitation computed using the interest rate and mortality table (or other tabular factor) specified in Section 2.2 of the Plan and (ii) the Actuarial
Equivalent (at such age) of the Dollar Limitation computed using a 5 percent interest rate assumption and the Applicable Mortality Table as defined in Section 2.2 of the Plan. For these purposes, mortality between age 65 and the age at which
benefits commence shall be ignored. 
  
 (d) If the Current Accrued
Benefit of an individual exceeds his Maximum Annual Benefit, then, for all purposes under this Section 6.5, such Participant’s Dollar Limitation shall be equal to such Current Accrued Benefit. 
  
 (e) Notwithstanding any other provision to the contrary, the maximum pension
payable to a Participant shall not exceed the maximum limitations of Code Section 415, which by this reference are specifically incorporated in full into the Plan. 
  
 6.6 Transferred Employee Retirement Benefits. Notwithstanding other provisions hereof to the contrary, Pensions and
other benefits, if any, payable under this Plan in cases of transfers of employment by Employees between Employers or Affiliates, or by transfers of Employees between this Plan and a plan maintained outside of this Plan by Affiliates, shall be
determined in accordance with the provisions of Article IX. 
  

 25 

 ARTICLE VII. 
  
 Separation and Death Benefits 
  
 7.1 Separation Benefit. A Participant who incurs a Termination of Employment on or after attaining his first eligible Early Retirement Date may
elect to receive his Accrued Benefit subject to the Annuity Starting Date requirements of Section 5.6 and the Spousal Consent and other applicable provisions of Article VIII. Such distribution of his Accrued Benefit shall be made in the form of a
Qualified Joint and Survivor Pension to a Participant who is married on his Annuity Starting Date or Single Life Annuity for a Participant who is not married on his Annuity Starting Date, unless such Participant elects (with his Spouse’s
Consent, if he is married) to receive such distribution as a Lump Sum. Such election shall be made by completing and delivering to the Committee a form furnished for such purpose by the Committee. 
  
 7.2 Death Benefits. The Surviving Spouse of a deceased, Vested
Participant shall receive a Survivor Pension with payments commencing on the Annuity Starting Date, unless Survivor Pension coverage for his surviving Spouse has been waived in accordance with Section 7.5. The Beneficiary of a deceased, Vested
Participant who left no Surviving Spouse or who had waived Survivor Pension coverage for his Surviving Spouse pursuant to Section 7.5 shall receive a Survivor Pension with payments commencing on the Annuity Starting Date. 
  
 7.3 Designation of Beneficiary. Each active or retired Participant may
designate a primary Beneficiary or Beneficiaries and a contingent Beneficiary or Beneficiaries to receive any benefit that may become payable under this Plan by reason of his death. If such Participant is married, no Beneficiary other than the
Participant’s current Spouse may be designated as a Beneficiary without a Spouse’s Consent. Any designation or change in designation by a married Participant of a Beneficiary other than his Spouse shall be invalid under this Plan, if such
designation or change in designation is not accompanied by a Spouse’s Consent. Upon the entry of a decree of divorce respecting a married Participant and his or her former spouse, any designation of such spouse as Beneficiary of such
Participant shall be revoked automatically and become ineffective on and after the date the decree is entered, unless otherwise provided in a Qualified Domestic Relations Order. The automatic revocation of such Beneficiary designation shall be
treated under the provisions of the Plan as if such former spouse had predeceased the Participant. However, a Participant may designate a former spouse as a Beneficiary under the Plan, provided a properly completed Beneficiary designation form is
filed with the Committee subsequent to entry of a decree of divorce respecting the Participant and such former spouse. If a Participant dies without executing a valid Beneficiary designation form, any benefits payable on account of such death shall
be paid to such Participant’s Surviving Spouse, if any, or if the Participant had no Surviving Spouse, to his estate, and such Surviving Spouse or estate, as applicable, shall be such Participant’s Beneficiary. Such designations shall be
made upon the forms furnished by the Committee, and may at any time and from time to time be changed or revoked without notice to any Beneficiary, and shall not be effective unless and until filed with the Committee. Neither the Employers nor the
Trustee (in its capacity as Trustee) shall be named as a Beneficiary. For purposes of this Plan, a certified copy of the death certificate, marriage certificate, final divorce decree, or a Qualified Domestic Relations Order shall be sufficient
evidence of the event or circumstance to which the document attests, and the Committee may rely thereon. In the absence of such proof, the Committee may rely upon such other evidence as it deems necessary or advisable. 
  

 26 

 7.4 Loss of Eligibility to Receive Death Benefit. Notwithstanding any other provision of this
Plan, in the event a Beneficiary, Spouse or Surviving Spouse is determined by a court of competent jurisdiction to have intentionally caused the death of a deceased Participant, such person shall be ineligible to receive any Death Benefit from the
Plan and such person shall be deemed to have predeceased the deceased Participant. In the event a Beneficiary, Spouse or Surviving Spouse is deemed to have predeceased a deceased Participant pursuant to this Section 7.4, the Death Benefit, if any,
then payable shall be paid in accordance with Section 7.3. 
  
 7.5
Waiver of Survivor Pension Coverage for Spouse. A Participant who is credited with at least one Hour of Service may waive Survivor Pension coverage with respect to his vested Accrued Benefit for his Spouse with his Spouse’s Consent at
any time during the Applicable Waiver Period, and revoke such waiver at any time during the Applicable Waiver Period, by properly completing and filing with the Committee the appropriate form for such purposes furnished by the Committee. Such a
Participant may waive and revoke a waiver without limitations on timing or frequency during the Applicable Waiver Period. Any such waiver of Survivor Pension coverage shall be invalid unless accompanied by a properly completed Beneficiary
designation form meeting all of the applicable requirements of Section 7.3. Nor shall any such waiver be valid unless the Participant and his Spouse have received, and acknowledged receipt of, a written explanation of Survivor Pension coverage for a
Spouse in such terms as are comparable to the explanation required by Section 8.1. Such written explanation shall be furnished to each such Participant within the 12-month period beginning with the date he becomes a Participant and shall be
furnished in any event with each waiver form provided by the Committee. For purposes of this Section 7.5, “Applicable Waiver Period” means the period beginning twelve (12) months prior to the date such a Participant will become a Vested
Participant (assuming continued Vesting Service credit) and ending with the date of death of such Participant; provided, however, any waiver by a Participant prior to the Plan Year in which he attains age thirty-five (35) shall become void and of no
further effect as of the first day of such Plan Year, which first day shall be deemed to be the first day of a new Applicable Waiver Period. 
  

 27 

 ARTICLE VIII. 
  
 Normal and Optional Forms of Payment 
  
 8.1 Normal Form of Pension. The normal form of Pension under this Plan for any Participant with at least one Hour of Service on or after the
Effective Date shall be determined in accordance with the following: 
  
 (a) Married Participant. 
  
 (1)
Qualified Joint and Survivor Pension. A Participant who is married on his Annuity Starting Date shall receive a reduced Qualified Joint and Survivor Pension, unless during the Applicable Election Period the Participant shall have elected with
his Spouse’s Consent to have his Accrued Benefit paid in an optional form described in Section 8.2, and the Participant shall have delivered a properly completed election form to the Committee at any time before the Annuity Starting Date, which
has not been revoked before such Annuity Starting Date. 
  
 (2) Explanation. The Committee shall provide each Vested Participant with a written explanation of the optional forms of payment in the manner set forth below. Such written explanation shall be provided to such
Participant by personal delivery or first class mail no less than 30 days and no more than ninety (90) days prior to his Annuity Starting Date, unless the Participant elects to waive such minimum thirty (30) day period, in which case payment may
commence as soon as eight (8) days after the date such explanation is provided. Such written explanation shall contain a general explanation: (i) of the terms and conditions of a Qualified Joint and Survivor Pension; (ii) the circumstances under
which it will be provided; (iii) the Participant’s right during the Applicable Election Period to make, and the effect of, an election to waive the Qualified Joint and Survivor Pension; (iv) the rights of the Participant’s Spouse; (v) the
Participant’s right during the Applicable Election Period to make, and the effect of, a revocation of a previous election to waive the Qualified Joint and Survivor Pension; and (vi) the relative values of the various optional forms of payment
under the Plan. 
  
 (b) Single Participant. A Participant
who is not married on his Annuity Starting Date or a married Participant who has elected not to receive his Pension in the form of a Qualified Joint and Survivor Pension shall receive his Pension in the form of a Single Life Annuity, unless the
Committee has approved such Participant’s selection of an optional form of payment described in Section 8.2. 
  
 8.2 Optional Forms of Pension. By filing a timely election in writing with the Committee, a Participant may designate any person who is a
“dependent,” as defined in Code Section 152 (without regard to the furnishing of support requirement therein) on the date of the designation, as his contingent pensioner or Beneficiary and elect to receive a Pension that is actuarially
equivalent and is payable in accordance with one of the following options, in lieu of the Pension to which he may otherwise become entitled upon Retirement. Option 5 shall only be available to a participant who retires on his Early Retirement Date
or Normal Retirement Date. 
  

 28 

 If the Participant is married on his Annuity Starting Date, the Participant must designate his Spouse as his contingent
pensioner or Beneficiary, as applicable, unless his designation of another dependent is accompanied by a Spouse’s Consent. 
  
 (a) Option 1. The retired Participant shall receive a Pension payable for life payable in the form of a Single Life Annuity, and payments in the
same reduced amount shall, after the retired Participant’s death, be continued to the contingent pensioner during the contingent pensioner’s lifetime. Such reduced Pension payable to the Participant shall be eighty-two percent (82%) plus
or minus sixty-five hundredths of one percent (0.65%) for each year to the nearest year that the contingent pensioner is older or younger respectively than the Participant multiplied by the Pension payable to the Participant in the form of a Single
Life Annuity. 
  
 (b) Option 2. The retired Participant
shall receive a reduced Pension payable for life, and payments in the amount of fifty percent (50%) of such reduced Pension shall, after the retired Participant’s death, be continued to the contingent pensioner during the contingent
pensioner’s lifetime. Such reduced Pension payable to the Participant shall be ninety-three percent (93%) minus twenty-five hundredths of one percent (0.25%) for each year to the nearest year that the contingent pensioner is younger than the
Participant, or plus four-tenths of one percent (0.40%) for each year to the nearest year that the contingent pensioner is older than the Participant, multiplied by the Pension payable to the Participant in the form of a Single Life Annuity.

  
 (c) Option 3. The retired Participant shall receive a
reduced Pension payable for life, and payments in the amount of seventy-five percent (75%) of such reduced Pension shall, after the retired Participant’s death, be continued to the contingent pensioner during the contingent pensioner’s
lifetime. Such reduced Pension payable to the Participant shall be eighty-seven percent (87%), minus four-tenths of one percent (0.40%) for each year to the nearest year that the contingent pensioner is older or younger than the Participant, or plus
fifty-five hundredths of one percent (0.55%) for each year to the nearest year that the contingent pensioner is older than the Participant, multiplied by the Pension payable to the Participant in the form of a Single Life Annuity. 
  
 (d) Option 4. The retired Participant shall receive a reduced Pension
payable for life, and payments in the amount of one hundred percent (100%) of such reduced Pension shall, after the retired Participant’s death, be continued to the contingent pensioner during the contingent pensioner’s lifetime. Such
reduced Pension payable to the Participant shall be eighty-six percent (86%) plus or minus sixty-five hundredths of one percent (0.65%) for each year to the nearest year that the contingent pensioner is older or younger respectively than the
Participant, multiplied by the Pension payable to the Participant in the form of a Single Life Annuity. 
  
 (e) Option 5. A lump sum cash payment to the Participant determined as of the end of the month immediately preceding payment, provided the
Participant’s Employer, where necessary, files a notice with the Pension Benefit Guaranty Corporation (“PBGC”) (at the time and in the manner prescribed by the PBGC) notifying the PBGC of such payment or distribution and the PBGC has
approved such payment or distribution or, within ninety (90) days after the date on which such notice was filed, has failed to disapprove such payment or distribution. Such lump sum cash payment shall be in an amount equal to the Actuarial
Equivalent of the Participant’s Accrued Benefit. 
  

 29 

 (f) Option 6. The retired Participant shall receive an amount equal to fifty percent (50%) of the
Actuarial Equivalent of his then Accrued Benefit calculated as provided under Option 4 above and remaining fifty percent (50%) of his Accrued Benefit shall be paid under any of the other optional forms of payment as provided under either Option 1,
Option 2, or Option 3. 
  
 A Participant may elect, change, or
revoke an election only if such election, change or revocation is filed with the Committee on a form provided for such purpose during the Applicable Election Period. 
  
 If the Pension payable to the retired Participant is in the form of a Joint and Survivor Annuity under Option 2, Option 3 or
Option 4 (including a Qualified Joint and Survivor Pension), then, in the event such Participant’s contingent pensioner dies after payment of such Pension has commenced and prior to such Participant’s death, the monthly amount of the
Pension payable to such Participant shall be increased commencing with the first monthly payment to be made immediately following the date of death of such contingent pensioner. In such event, the increased monthly amount of Pension payable to such
Participant shall be equal to the monthly amount which would have been payable to the Participant as of his or her Annuity Starting Date if such Participant’s Pension had been payable in the form of a Single Life Annuity pursuant to Option 1.
Such increased monthly amount shall be payable for the remaining life of such Participant during which payment of his or her Pension continues after his or her Spouse’s death. 
  
 If a Participant who makes an election during the Applicable Election Period pursuant to the requirements of this Section
8.2 continues in an Employer’s employ after his election, no Pension payments shall be made during the period of continued employment until his Annuity Starting Date. If the Participant continues in such employment after such Annuity Starting
Date, the election shall become inoperative, but a new election may be made during a subsequent Applicable Election Period. 
  
 An election made pursuant to this Section 8.2 shall become inoperative in the event (a) the Participant’s death occurs prior to the Annuity Starting
Date established by his election during the Applicable Election Period, or (b), if applicable, no contingent pensioner is surviving on the Participant’s Annuity Starting Date. 
  
 8.3 Other Benefits Cancelled by Option. Any Pension, Death Benefit, or other benefit that would otherwise have become
payable under this Plan, shall be cancelled and superseded by an option elected under this Article VIII as of the date such option or other form of payment becomes operative. 
  

 30 

 8.4 Special Restrictions on Payment. 
  
 (a) Subject to the following provisions, if the Lump Sum value (including
for this purpose a value of zero) of a Pension, Survivor Pension or Separation Benefit payable to a Participant or Surviving Spouse is not greater than Five Thousand Dollars ($5,000), the Committee shall direct that such benefit be paid in a Lump
Sum no later than the end of the second plan year following the Plan Year of his Termination of Employment. 
  
 (b) For purposes of this Section 8.4, the present value of the nonforfeitable portion of an Accrued Benefit, a Survivor Pension or a Separation Benefit
payable to a Participant or his Surviving Spouse shall be treated as greater than Five Thousand Dollars ($5,000) at all times, if the distribution thereof without the consent of the Participant and/or his Surviving Spouse, as applicable, was
prohibited by this Section 8.4 immediately before such distribution began. No such consent is required before the commencement of such distribution, if the present value thereof is not more then Five Thousand Dollars ($5,000), or if the Participant
has attained age sixty-five (65) or would have attained such age as of the Annuity Starting Date, if he had lived. 
  
 (c) In all events, all Pensions and other benefits payable under the Plan shall be payable only in accordance with the requirements of Code Section
401(a)(9) and applicable regulations promulgated thereunder. 
  
 8.5 Domestic Relations Orders. The Accrued Benefit of a Participant shall be paid in accordance with the terms of any Qualified Domestic Relations Order. 
  
 8.6 Unclaimed Benefits. During the time when a benefit hereunder is payable to any Participant or Beneficiary, the
Committee, upon request by the Trustee, or at its own instance shall mail by registered or certified mail to such person, at his last known address, a written demand for his address, or for satisfactory evidence of his continued life, or both. If
such information is not furnished to the Committee within three months from the mailing of such demand, then the Committee may, in its sole discretion, determine that such Participant or Beneficiary is deceased and may declare such benefit, or any
unpaid portion thereof, terminated as if the death of the distributee (with nonsurviving beneficiary) had occurred on the later of the date of the last payment made thereon or the date such person first became entitled to receive benefit payments.
Any such declaration by the Committee shall later be revoked, upon a receipt of the requested information by the Committee. 
  
 8.7 Facility of Payment. In the event any person entitled to receive any Pension, Death Benefit or other benefit payment of any nature under the
Plan is determined by the Committee to be legally, physically or mentally incapable of personally receiving and receipting for payment thereof, the Committee, in its sole discretion, may direct the Trustee to make payment thereof to such person,
persons, institution or institutions then maintaining or having custody of such incapacitated person, as determined by the Committee. The determination of the Committee as to the identity of the proper payee of any Pension, Death Benefit or other
benefit of any nature under the Plan and the amount properly payable with respect thereto shall be final and conclusive with respect to all persons for purposes. 
  

 31 

 8.8 Loss of Eligibility to Receive Continuation Benefits. Notwithstanding any other provision of
this Plan or an Appendix, in the event a contingent annuitant, Surviving Spouse or Beneficiary is determined by a court of competent jurisdiction to have intentionally caused the death of a deceased Participant who was receiving Pension payments
prior to his death, such person shall be ineligible to receive any continuation payments from the Plan with respect to such Pension and such person shall be deemed to have predeceased the deceased Participant. In the event a contingent annuitant,
Beneficiary or Surviving Spouse is deemed to have predeceased a deceased Participant pursuant to this Section 8.8, any continuation benefits, if any, shall be payable only as determined by the form in which the Pension of such deceased Participant
was being paid. In this regard, if such Pension was being paid in the form of joint and survivor annuity (including a Qualified Joint and Survivor Pension) and the contingent pensioner (including a Surviving Spouse) is deemed to have predeceased the
deceased Participant, no continuation payments shall be payable to any person or entity with respect to such Pension, unless such Pension was payable for a period certain; in which case payments for the remainder, if any, of such period certain
shall be continued to the deceased Participant’s Beneficiary determined in accordance with Section 7.3. 
  

 32 

 ARTICLE IX. 
  
 Employment Transfers 
  
 9.1 Transfers Between Employers. If an Eligible Employee has a transfer of employment between Employers, his Accrued Benefit and Years of Service
earned and credited up to the date of such transfer shall not be reduced and he shall continue to be credited with Vesting Service (but not Benefit Service) with respect to his Accrued Benefit accrued to such date for each Hour of Service during his
employment as an Employee with such transferee Employer. Such transferred Employee shall participate in the Plan after such transfer of employment in accordance with the terms of the Plan and any Appendix applicable to his status as an Employee of
such transferee Employer and his Accrued Benefit as of any date on or after the date of such transfer shall be determined in accordance with the applicable terms of the Plan (including any applicable Appendix) as such terms exist as of the date of
such transfer and as such terms may be amended thereafter. 
  
 9.2
Transfers to Non-Employer Affiliates. If an Eligible Employee has a transfer of employment to an Affiliate which is not an Employer, his Accrued Benefit and Years of Service earned and credited up to the date of such transfer shall not be
reduced and he shall continue to be credited with Vesting Service (but not Benefit Service) with respect to his Accrued Benefit accrued to such date for each Hour of Service during his employment as an Employee with such transferee Affiliate.

  

 33 

 ARTICLE X. 
  
 Administration 
  
 10.1 Fiduciaries. Under certain circumstances, the Trustee, the Board of Managers, the Committee, or the Investment Managers may be determined by a
court of law to be a fiduciary with respect to a particular action under the Plan or the Trust Agreement. As authorized by ERISA, to prevent any two parties to the Plan from being deemed co-fiduciaries with respect to a particular function, both the
Plan and Trust Agreement are intended, and should be construed, to allocate to each party to the Plan only those specific powers, duties, responsibilities, and obligations as are specifically granted to it under the Plan or Trust. 
  
 10.2 Allocation of Responsibilities Among Named Fiduciaries.

  
 (a) Trustee. The Trustee shall have the authority and
responsibility to manage and control the Trust Fund and for the investment and safekeeping of the assets of the Plan, except to the extent such authority and responsibility is delegated to one or more Investment Managers. The Trustee shall also have
those responsibilities set forth in the Trust Agreement and the provisions of this Plan. 
  
 (b) Board of Managers. The Board of Managers shall have exclusive authority and responsibility for: 
  
 (1) The termination of the Plan; 
  
 (2) The adoption of an amendment to this Plan or an Appendix which would materially increase or decrease the level of Accrued Benefits
provided for in this Plan or an Appendix; 
  
 (3)
The appointment and removal of members of the Benefits Committee. The Board of Managers shall designate one member of the Benefits Committee as the Chairman of the Benefits Committee; 
  
 (4) The approval of the adoption of this Plan by an Affiliate and the withdrawal from this Plan by an
adopting Employer; and 
  
 (5) The delegation to
the Benefits Committee of any authority and responsibility reserved herein to the Board of Managers. 
  
 (c) Committee. The Committee shall have exclusive authority and responsibility for those functions set forth in Section 10.3, 10.4, and 10.5 of
this Plan and in other provisions of this Plan. The Committee shall also serve as Plan administrator and shall have exclusive authority and responsibility for those functions set forth in Section 10.4 and in other provisions of this Plan.

  
 (d) Investment Managers. The Investment Managers, if
and to the extent appointed by the Benefits Committee, shall have the authority and responsibility for the investment of all or any part of the assets of the Plan, as delegated to the Investment Managers by the Benefits Committee. In investing any
of the assets of the Plan, the Investment Managers shall follow any investment objectives or guidelines established by the Benefits Committee and communicated to the Investment Managers. 
  

 34 

 10.3 Provisions Concerning the Benefits Committee. 
  
 (a) Membership and Voting. The members of the Benefits Committee
shall be appointed and removed by the Board of Managers pursuant to Section 10.2(b)(3). The Benefits Committee shall consist of not less than three (3) members. The Board of Managers may remove any member of the Benefits Committee at any time, with
or without cause, by written notice to such member and to the other members of the Benefits Committee. Any member may resign by delivering a written resignation to the Board of Managers. Vacancies in the Benefits Committee arising by death,
resignation or removal shall be filled by the Board of Managers. The Benefits Committee shall act by a majority of its members at the time in office, and such action may be taken by a vote at a meeting, in writing without a meeting, or by telephonic
communications. Attendance at a meeting shall constitute waiver of notice thereof. A member of the Benefits Committee who is a Participant of the Plan shall not vote on any question relating specifically to such Participant. Any such action shall be
voted or decided by a majority vote of the remaining members of the Benefits Committee. The Benefits Committee shall appoint a Secretary who may, but need not, be a member thereof. The Benefits Committee may appoint from its members such
subcommittees with such powers as the Benefits Committee shall determine. 
  
 (b) Powers and Duties of Benefits Committee. The Benefits Committee shall have the authority and responsibility for: 
  
 (1) All amendments to this Plan, except to the extent such authority is reserved to the Board of Managers; 
  
 (2) The approval of any merger or spin-off of any part of
this Plan; 
  
 (3) The appointment, removal, with
or without cause, or the replacement of the Trustee, Investment Managers, or any member of the Committee; and 
  
 (4) The delegation of responsibilities to the Trustee, the Committee, or any other person or entity. 
  
 The Benefits Committee may appoint such accountants, counsel, specialists,
and other persons as it deems necessary or desirable in connection with the administration of this Plan. Such accountants and counsel may, but need not, be accountants and counsel for the Company or an Affiliate. The Benefits Committee also shall
have such other duties, authority and responsibility as may be delegated by the Board of Managers. 
  
 10.4 Provisions Concerning the Committee. 
  
 (a) Membership and Voting. The Benefits Committee shall be in charge of the operation and administration of this Plan. The Committee shall consist
of not less than three (3) members. The Benefits Committee may remove any member of the Committee at any time, with or without cause, by written notice to such member and to the other members of the 
  

 35 

 Committee. Any member may resign by delivering a written resignation to the Benefits Committee. Vacancies in the
Committee arising by death, resignation or removal shall be filled by the Benefits Committee. The Committee shall act by a majority of its members at the time in office, and such action may be taken by a vote at a meeting, in writing without a
meeting, or by telephonic communications. A member of the Committee who is a Participant of the Plan shall not vote on any question relating specifically to such Participant. Any such action shall be voted or decided by a majority vote of the
remaining members of the Committee. The Committee shall designate one of its members as the Chairman and shall appoint a Secretary who may, but need not, be a member thereof. The Committee may appoint from its members such subcommittees with such
powers as the Committee shall determine. 
  
 (b) Duties of
Committee. The Committee shall administer the Plan in accordance with its terms and shall have all the powers necessary to carry out such terms. The Committee shall execute any certificate, instrument or other written direction on behalf of the
Plan and may make any payment on behalf of the Plan. All interpretations of this Plan, and questions concerning its administration and application, shall be determined by the Committee in its sole discretion and such determination shall be binding
on all persons for all purposes. The Committee may appoint such accountants, counsel, specialists, and other persons as it deems necessary or desirable in connection with the administration of this Plan. Such accountants and counsel may, but need
not, be accountants and counsel for the Company or an Affiliate. The Committee also shall have such other duties, authority and responsibility as may be delegated by the Benefits Committee. 
  
 10.5 Provisions Concerning the Plan Investments. The Benefits
Committee shall appoint Investment Managers and monitor the performance of such investments and Investment Managers. The Benefits Committee shall also implement any investment objectives or guidelines which may be established by the Benefits
Committee. The Benefits Committee may appoint such accountants, counsel, specialists, and other persons as it deems necessary or desirable in connection with its duties under this Plan. Such accountants and counsel may, but need not, be accountants
and counsel for the Company or an Affiliate. 
  
 10.6
Delegation of Responsibilities; Bonding. 
  
 (a)
Delegation and Allocation. The Board of Managers and the Committee, respectively, shall have the authority to delegate and allocate, from time to time, by a written instrument, all or any part of its responsibilities under this Plan to such
person or persons as each may deem advisable, and in the same manner to revoke any such delegation or allocation of responsibility. Any action of such person in the exercise of such delegated or allocated responsibilities shall have the same force
and effect for all purposes hereunder as if such action had been taken by the Board of Managers or the Committee. An Employer, the Board of Managers, or the Benefits Committee shall not be liable for any acts or omissions of any such person, who
shall periodically report to the Board of Managers, or the Benefits Committee, as applicable, concerning the discharge of the delegated or allocated responsibilities. 
  
 (b) Bonding. The members of the Benefits Committee shall serve without bond (except as expressly required by federal
law) and without compensation for their services as such. 
  

 36 

 10.7 No Joint Fiduciary Responsibilities. The Plan is intended to allocate to each named fiduciary
the individual responsibility for the prudent execution of the functions assigned to it, and none of such responsibilities or any other responsibility shall be shared by two or more of such named fiduciaries unless such sharing is provided for by a
specific provision of the Plan. Whenever one named fiduciary is required herein to follow the directions of another named fiduciary, the two named fiduciaries shall not be deemed to have been assigned a shared responsibility, but the responsibility
of a named fiduciary receiving such directions shall be to follow them insofar as such instructions are on their face proper under applicable law. 
  
 10.8 Information to be Supplied by Employer. Each Employer shall supply to the Committee, within a reasonable time after the end of each month and
in such form as the Committee shall require, the names of all Participants who incurred a Termination of Employment or layoff during the month and the date of termination of each and the amount of Compensation paid to each Participant for the Plan
Year of such Termination of Employment. The Committee may rely conclusively on the information certified to it by an Employer. Each Employer shall provide to the Committee or its delegate such other information as it shall from time to time need in
the discharge of its duties. 
  
 10.9 Records. The
regularly kept records of the Committee and of any Employer shall be conclusive evidence of the Accrued Benefit, Vesting Service and Eligibility Service of a Participant, his Compensation, his age, marital status, his status as an Eligible Employee
and all other matters contained therein applicable to this Plan; provided that a Participant may request a correction in the record of his age at any time prior to his Annuity Starting Date, and such correction shall be made if within ninety (90)
days after such request he furnishes in support thereof a birth certificate, baptismal certificate, or other documentary proof of age satisfactory to the Committee. 
  
 10.10 Fiduciary Capacity. Any person or group of persons may serve in more than one fiduciary capacity with respect
to the Plan. 
  

 37 

 ARTICLE XI. 
  
 Trustee 
  
 11.1 Appointment of Trustee. A Trustee (or Trustees) shall be the entity designated as Trustee under the Trust Agreement or such other entity
appointed by the Benefits Committee. The Trustee shall serve at the pleasure of the Benefits Committee, and shall have such rights, powers and duties as are provided to a Named Fiduciary under ERISA for the administration of the Trust Fund and as
are provided in the Trust Agreement. 
  
 11.2 Responsibility of
Trustee and Investment Manager(s). All contributions under this Plan shall be paid to and held separately by the Trustee. The Trustee shall have no responsibility relating to the investment and reinvestment of the Trust Fund except with respect
to the management of those assets specifically delegated to it in writing. The Investment Manager(s) shall have exclusive management and control of the investments and/or reinvestments of the assets of the Trust Fund assigned to them except as
specified above. All property and funds of the Trust Fund shall be retained for the exclusive benefit of Participants, as provided in the Plan, and shall be used to pay benefits to Participants or their beneficiaries or to pay expenses of
administration of the Plan and Trust Fund to the extent not paid by the Employers. 
  
 11.3 Funding and Investment Policy. The Committee shall periodically obtain cash flow projections from the Actuary and shall supply them to the Benefits Committee, so that an appropriate funding and investment
policy may be maintained by such Benefits Committee in accordance with the requirements of ERISA. 
  
 11.4 Bonding. Neither the Investment Manager(s) nor Trustee shall be required to furnish any bond or security for the performance of their powers
and duties hereunder unless applicable law makes the furnishing of such bond or security mandatory. 
  
 11.5 Standard of Conduct of Trustee. The Trustee shall perform all of its functions solely in the interests of the Participants of the Plan and
their Beneficiaries and with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character
and with like aims, and shall not be liable for any conduct on its part which conforms to that standard. 
  
 11.6 Payment of Expenses. All expenses incident to the administration, termination or protection of the Plan and Trust, including but not limited
to, actuarial, legal, accounting, investment management, Trustee’s fees and premiums to the Pension Benefit Guaranty Corporation, may, but are not required to, be paid by the Company, which may require reimbursement from the other Employers for
their proportionate shares, or if not paid by the Company, shall be paid by the Trustee from the Trust Fund and, until paid, shall constitute a first and prior claim and lien against the Trust Fund. 
  

 38 

 ARTICLE XII. 
  
 Limitations 
  
 12.1 Reemployment of Retired Employees. 
  
 (a) Prior to Normal Retirement Date. If a retired Participant is reemployed as an Eligible Employee prior to his Normal Retirement Date, no Pension
payments shall be made during the period of such reemployment. Upon subsequent Termination of Employment by such Participant, the Participant shall be entitled to receive a Pension based on his Accrued Benefit as of the end of his period of
reemployment or his Benefit Service and Average Monthly Compensation prior to the date of his previous Retirement as well as Benefit Service and Average Monthly Compensation during the period of his reemployment, and in the case of a disabled
Participant, his Benefit Service while disabled. In the case of reemployment of a retired Participant who received any Pension payments prior to his reemployment, the Pension payable upon his subsequent Retirement shall be reduced by the Actuarial
Equivalent of any Pension payments he received during his previous period of Retirement. 
  
 (b) On or After Normal Retirement Date. 
  
 (1) Suspension of Pension. If a retired Participant is reemployed as an Eligible Employee on or after his Normal Retirement Date,
his Pension shall be suspended for any calendar month during which he earns at least forty (40) Hours of Service under this Plan; provided, however, in no event shall the amount so suspended be greater than the amount of Pension which would have
been payable to the Participant if he had been receiving monthly Pension payments under the Plan since his Retirement based on a Single Life Annuity commencing at his age at Retirement. 
  
 (2) Status Determination. Any retired Participant who is reemployed by any Employer or Affiliate on
or after his Normal Retirement Date may request the Committee to render a determination of whether specific contemplated reemployment will result in a permanent suspension of his Pension under Section 12.2(b)(1). Such requests shall be considered in
accordance with this Plan’s claims procedure, and shall be rendered in a reasonable amount of time. 
  
 12.2 Governmental Restrictions. 
  
 (a) Limitation on Benefits of Highly Compensated Employees. This Section 12.2 sets forth the limitations required by the Internal Revenue Service
on the Employer Contributions which may be used for the benefit of certain Participants. In the event of Plan termination, the benefit of any highly compensated active or former employee is limited to a benefit that is nondiscriminatory under Code
Section 401(a)(4). In this regard, benefits distributed to any of the 25 most highly compensated active and highly compensated former employees with the greatest compensation in the current or any prior year are restricted such that the annual
payments are no greater than an amount equal to the payment that would be made on behalf of the Participant under a straight life annuity that is the Actuarial Equivalent of the sum of the Participant’s Accrued Benefit, the Participant’s
other benefits (if any) under the Plan 
  

 39 

 (other than a social security supplement, within the meaning of Section 1.411(a)-7(c)(4)(ii) of the Income Tax
Regulations), and the amount the Participant is entitled to receive under a social security supplement. 
  
 The foregoing restrictions shall not apply if: 
  
 (1) after payment of the benefit to a Participant described in the preceding paragraph, the value of plan assets equals or exceeds 110% of
the value of current liabilities, as defined in Code Section 412(l)(7); 
  
 (2) the value of the benefits for a Participant described above is less than 1% of the value of current liabilities before distribution; or 
  
 (3) the value of the benefits payable under the Plan to a Participant described above does not exceed Five
Thousand Dollars ($5,000). 
  
 For purposes of this Section 12.2, benefit includes
loans in excess of the amount set forth in Code Section 72(p)(2)(A), any periodic income, any withdrawal values payable to a living Participant, and any death benefits not provided for by insurance on the Participant’s life. 
  
 (b) Permissible Distributions. A Participant’s otherwise
restricted benefit may be distributed in full to the affected Participant if prior to receipt of the restricted amount, the Participant enters into a written agreement with the Committee to secure repayment to the Plan of the restricted amount. The
restricted amount is the excess of the amounts distributed to the Participant (accumulated with reasonable interest) over the amounts that could have been distributed to the Participant under a Single Life Annuity (accumulated with reasonable
interest). The Participant may secure repayment of the restricted amount upon distribution by: 
  
 (1) entering into an agreement for promptly depositing in escrow with an acceptable depositary, property having a fair market value equal
to at least 125 percent of the restricted amount; 
  
 (2) providing a bank letter of credit in an amount equal to at least 100 percent of the restricted amount; or 
  
 (3) posting a bond equal to at least 100 percent of the restricted amount. If the Participant elects to post bond, the bond will be
furnished by an insurance company, bonding company or other surety for federal bonds. 
  

 40 

 ARTICLE XIII. 
  
 Amendments 
  
 13.1 Right to Amend. As provided in Article X, the Benefits Committee or the Board of Managers, as appropriate, reserves the right to make, from
time to time, any amendment to this Plan which does not permit any prohibited reversion of any part of the Trust Fund to the Employers, and which does not cause any part of the Trust Fund to be used for, or diverted to, any purpose other than the
exclusive benefit of Participants included in this Plan. Retroactive amendments may not decrease the Accrued Benefit of any Participant or Beneficiary thereof determined as of the first Plan Year to which the amendment applies, or as of the time the
amendment was adopted, except as permitted by law. 
  
 13.2
Plan Merger or Consolidation. In the event of any merger or consolidation with, or transfer of assets or liabilities to any other plan, each Participant in this Plan, upon termination, shall have as a minimum benefit, under the successor
plan, the amount he would have received if the Plan had terminated at the time of such merger, consolidation or transfer. 
  

 41 

 ARTICLE XIV. 
  
 Adoption and Withdrawal 
  
 14.1 Procedure for Adoption. Any Affiliate now in existence or hereafter formed or acquired, which is not already an Employer under this Plan and
which is otherwise legally eligible, may by formal resolution or decision of its own board of governing authority, adopt this Plan and the related Trust, for all or any classification of persons in its employment, and thereby, from and after the
specified effective date shall become an Employer under this Plan. Such adoption shall be effectuated by such formal resolution or decision of the adopting organization as shall be appropriate. The adoption resolution or decision may contain such
specific changes and variations in the terms and provisions of this Plan and Trust applicable to such adopting Employer and its Employees, as may be acceptable to the Benefits Committee and attached hereto as an Appendix. However, the sole,
exclusive right of any other amendment of whatever kind or extent, to the Plan or Trust are reserved by the Company. The Appendix so added shall become, as to such adopting organization and its Employees, a part of this Plan as then amended or
thereafter amended and the related Trust. It shall not be necessary for the adopting organization to sign or execute the original or the amended Plan and Trust documents. The effective date of this Plan for any such adopting organization shall be
stated in this restated and amended Plan or in the Appendix, and from and after such effective date such adopting organization shall assume all the rights, obligations and liabilities of an individual Employer entity hereunder and under the Trust.
The administrative powers and control of the Company, as provided in the Plan and Trust, including the right of amendment, and of appointment and removal of the Benefits Committee, shall not be diminished by reason of the participation of any such
adopting organization in this Plan and Trust. 
  
 14.2
Withdrawal. An Employer, by action of its board of managers or other governing authority, may withdraw from this Plan and Trust at any time, without affecting other Employers not withdrawing. The Company may, in its absolute discretion,
terminate an adopting Employer’s participation at any time when in its judgment such adopting Employer fails or refuses to discharge its obligations under this Plan. 
  
 14.3 Adoption By Affiliate Contingent Upon Qualification. The adoption and any related amendment of the Plan and its
related Trust by an Affiliate is hereby made contingent and subject to the condition precedent that the Plan and its related Trust following such adoption, meets all the statutory requirements for qualified plans, including, but not limited to, Code
Section 401(a). 
  

 42 

 ARTICLE XV. 
  
 Termination 
  
 15.1 Right to Terminate. The Company may at any time terminate the Plan with respect to all or any part of the Participants employed by all or any
one of the Employers, and may direct and require the Trustee to liquidate the share of the Trust Fund allocable to such Participants or their Beneficiaries. If the Plan is terminated with respect to less than all Employers maintaining the Plan, the
Plan shall continue in effect for Participants of the remaining Employers. In the event that an Employer shall cease to exist, the Plan shall be terminated with respect to the Participants of such Employer, unless a successor organization adopts and
continues the Plan. Upon complete or partial termination of the Plan, the rights of all affected Employees to the benefits accrued under the Plan to the date of such termination shall be nonforfeitable to the extent then funded. 
  
 15.2 Employer Consolidation or Merger. Upon an Employer’s
liquidation, bankruptcy, insolvency, sale, consolidation or merger to or with another organization which is not an Employer hereunder, in which the Employer is not the surviving company, or upon an adjudication or other official determination of a
court of competent jurisdiction or other public authority pursuant to which a conservator, receiver or other legal custodian is appointed for the purpose of operation or liquidation of an Employer, the Trust Fund assets attributable to the
Participants of such Employer shall be held or distributed as herein provided, unless the successor to such Employer assumes the duties and responsibilities of such Employer by adopting the Plan and Trust, or by the establishment of a separate plan
and trust to which the Trust Fund assets of the Trust held on behalf of such Employer may be transferred with the consent and agreement of such Employer and the Company. Upon the consolidation or merger of two or more of the Employers under the Plan
with each other, the surviving Employer or organization shall succeed to all the rights and duties under the Plan and Trust of the Employers involved. 
  
 15.3 Allocation and Liquidation of Trust Fund. Upon complete or partial termination of the Plan the proportionate interests of the affected
Participants of each Employer, and their Beneficiaries, respectively, shall be determined by the Committee in accordance with Section 4044 of ERISA and other applicable laws and regulations. If any assets of the Plan remain following complete
termination of the Plan, they shall revert to the Company as provided in Section 15.5. Notwithstanding the foregoing, in the event the Plan terminates, or there is a spin-off of part of the Plan (in excess of the three percent (3%) of the Plan
assets permitted under Treasury Regulation Section 1.414(1)-1(n)(2)), within five (5) years following the date of any merger of any other plan into this Plan after September 2, 1974, and if the sum of the assets in this Plan after any such merger
was less than the sum of the present values of the accrued benefits (whether or not vested) of both this Plan and such other plan on a termination basis on the merger date, then a special schedule of benefits shall be created from the necessary (as
identified by an enrolled actuary) data maintained by the Employer or the Committee and shall be inserted in and modify the allocation priorities set forth above in this Section 15.3 at the time of such termination or spin-off, in accordance with
Treasury Regulation Sections 1.414(1)-1(e)-(j) and 2608.13. 
  

 43 

 15.4 Manner of Distribution. Any distribution after termination or partial termination of this
Plan may be made at any time, and from time to time, in whole or in part, to the extent that no discrimination in value results, in cash or in securities or other assets in kind (at fair market value at the time of distribution). In making such
distribution, any and all determinations, divisions, appraisals, apportionments and allotments shall be made by the Committee acting with the information supplied by the Actuary and such actions shall be final, binding and conclusive on all persons
for all purposes. Provided that no discrimination in value results, the Committee may direct that any or all of the nonforfeitable benefits to be distributed may be paid in a Lump Sum, subject to the consent requirements of Section 8.4. 

 
 15.5 Amounts Returnable to an Employer. In no event shall an
Employer receive any amounts from the Trust, except such amounts, if any, as set forth below: 
  
 (a) Upon termination of the Plan and notwithstanding any other provisions of the Plan, the Company shall receive such amounts, if any, as may remain after the satisfaction of all liabilities of the Plan to affected
Participants and Beneficiaries, and arising out of any variations between actual requirements and expected actuarial requirements; 
  
 (b) In the event of a contribution made by an Employer by a mistake of fact, such contribution may be returned to such Employer within one year after
payment thereof, subject to the provisions of subsection (d), below; 
  
 (c) Each contribution hereunder is conditioned upon the deductibility of such contribution under Code Section 404 for the Plan Year for which such contribution is made and shall be returned to an Employer within one (1) year of
disallowance, if such deduction is disallowed (to the extent of the disallowance), subject to the provisions of subsection (d), below; and 
  
 (d) The return of an Employer Contribution to an Employer under subsections (b) or (c), above, must comply with each of the following requirements:

  
 (1) The amount of such Employer Contribution
which may be so returned shall not be greater than the excess of (i) the amount contributed over (ii) the amount that would have been contributed had there been no mistake in determining the deduction or had there been no mistake of fact, as the
case may be; and 
  
 (2) The amount of such
Employer Contribution which may be so returned shall not be increased by earnings attributable to the investment or reinvestment of such Employer Contribution in the Trust, but shall be reduced by losses attributable to the investment or
reinvestment of such Employer Contribution in the Trust. 
  

 44 

 ARTICLE XVI. 
  
 Top-Heavy Provisions 
  
 16.1 Definitions. For purposes of this Article XVI, the following words and phrases shall have the meanings set forth below when used in the
capitalized form, unless a different meaning is clearly warranted by the context: 
  
 (a) “Aggregation Group” shall mean a Required Aggregation Group or a Permissive Aggregation Group, as appropriate. 
  
 (1) “Required Aggregation Group” shall mean that group of plans comprised of each defined
contribution and each defined benefit plan sponsored by the Company or any Affiliate in which at least one (1) Key Employee participates, and any other defined contribution or defined benefit plan sponsored by the Company or by any Affiliate which
enables a plan in which a Key Employee participates to satisfy the minimum participation and non-discrimination requirements of Code Sections 401(a)(4) or 410. 
  

(2) “Permissive Aggregation Group” shall mean all plans included in the Required Aggregation Group and any other plan
or plans sponsored by the Company or by an Affiliate but only if such group of plans would satisfy, in the aggregate, the minimum participation and non-discrimination requirements of Code Sections 410 and 401(a)(4) and contributions or benefits in
such other plans are comparable to contributions or benefits in the plans of the Required Aggregation Group. The Committee shall determine which plan or plans shall be taken into account in determining the Permissive Aggregation Group. 

 
 (b) “Annual Compensation” means compensation within the
meaning of Code Section 415(c)(3). 
  
 (c) “Determination
Date” shall mean, with respect to a Plan Year, the last day of the immediately preceding Plan Year. 
  
 (d) “Key Employee” shall mean any Employee or former Employee (and any beneficiaries of a former employee) who, for the Plan Year
containing the Determination Date or any of the four preceding Plan Years, is: 
  
 (1) An officer of an Employer (or of an Affiliate) whose Annual Compensation during the Plan Year containing the Determination Date is
greater than One Hundred Thirty Thousand Dollars ($130,000) (as adjusted under Code Section 416(i)(1); provided however, excluding Employees described in Code Section 414(q)(5), no more than the lesser of: 
  
 (A) fifty (50) Employees; or 
  
 (B) the greater of three (3) Employees or ten percent (10%)
of all Employees 
  

 45 

 
shall be treated as officers, and such officers shall be selected from those with the highest Annual Compensation during the Plan Year containing the
Determination Date; 
  
 (2) A five percent (5%)
or greater owner of an Employer, as defined in Code Section 416(i)(B)(i); or 
  
 (3) A one percent (1%) or greater owner of an Employer (as defined in Code Section 416(i)(B)(ii)) whose Annual Compensation from an Employer is greater than One Hundred Fifty Thousand Dollars ($150,000). 

 
 (e) “Non-Key Employee” shall mean an Employee who is not
a Key Employee, including an Employee who is a former Key Employee. 
  
 (f) “Valuation Date” shall mean (i) with respect to this Plan, the last valuation date of a Plan Year containing the Determination Date, which is the valuation date as of which the Actuary determines the funding
requirements for the Trust Fund in accordance with ERISA and as provided in Section 11.3; (ii) with respect to any other defined benefit plan included in the Aggregation Group, the valuation date within the twelve (12) month period ending on the
Determination Date as of which the minimum funding standards are determined for such plan; and (iii) with respect to a defined contribution plan included in the Aggregation Group, the valuation date within the twelve (12) month period ending on the
Determination Date as of which the account balances under such plan are determined. 
  
 16.2 Application of Top-Heavy Provisions. The provisions of this Article XVI shall be applied as follows: 
  
 (a) Single Plan Determination. Unless this Plan is included in an Aggregation Group, it will be considered top-heavy and the provisions of this
Article XVI shall be applicable, if, as of a Determination Date, the cumulative Accrued Benefits of Key Employees under the Plan exceeds sixty percent (60%) of the cumulative Accrued Benefits of all Employees under the Plan. 
  
 (b) Aggregation Group Determination. If the Plan is included in an
Aggregation Group, it will be considered top-heavy and the provisions of this Article XVI shall be applicable, if as of a Determination Date, the sum of account balances of Key Employees under all defined contribution plans in the group and the
cumulative accrued benefits of Key Employees under all defined benefit plans in such group exceed sixty percent (60%) of the same amounts determined for all employees under all plans included in the Aggregation Group. 
  
 (c) Top-Heavy Test. For purposes of subsection (a) and (b) above,
accrued benefits and account balances shall be adjusted for any distribution made in the one-year period ending on the Determination Date, for any contribution due but unpaid as of the Determination Date and for any contributions made after the most
recent Valuation Date. In the case of a distribution made for a reason other than separation from service, death, or disability, the previous sentence shall be applied by substituting “five-year period” for “one-year period.” The
value of cumulative accrued benefits and the value of account balances shall be determined as of the most recent Valuation Date which is within the twelve-month period ending on the 
  

 46 

 
Determination Date and the accrued benefit of a current Employee shall be determined as if he had incurred a Termination of Employment as of such Valuation
Date. The present value of accrued benefits shall be determined using the actuarial assumptions set forth in Section 2.2, without regard to whether such benefit is accrued under this Plan or any other defined benefit plan included in the Aggregation
Group. The accrued benefit and account balance of a Participant who has not performed services for an Employer or an Affiliate during the one-year period ending on the Determination Date, shall be disregarded. The determination of top-heavy status,
including the extent to which contributions, distributions, rollovers and transfers are taken into account shall be made in accordance with Code Section 416 and the Treasury Regulations issued thereunder. Solely for the purpose of determining if
this Plan, or any other plan included in a required Aggregation Group of which this Plan is a part, is top-heavy (within the meaning of Code Section 416(g)) the Accrued Benefit of a Non-Key Employee shall be determined under (a) the method, if any,
that uniformly applies for accrual purposes under all plans maintained by Affiliates, or (b) if there is no such method, as if such benefit accrued not more rapidly than the slowest accrual rate permitted under the fractional accrual rate of Code
Section 411(b)(1)(C). 
  
 16.3 Top-Heavy Determination. The
Committee shall determine whether the Plan is a top-heavy plan with respect to each Plan Year. The Committee’s determination shall be final and binding on all Participants. 
  
 16.4 Vesting Requirements. If the Plan is determined to be a top-heavy plan with respect to a Plan Year, then a
Participant’s interest in his Accrued Benefit shall vest in accordance with the following schedule: 
  

				
	 Years of Vesting Service

	  	Vesting Percentage

	 
	             Less than 2
	  	0	%
	             2
	  	20	%
	             3
	  	40	%
	             4
	  	60	%
	             5
	  	80	%
	             6 or more
	  	100	%

  
 If in a subsequent
Plan Year, the Plan is no longer top-heavy, the vesting provisions that were in effect prior to the time the Plan became top-heavy shall be reinstated; provided, however, that any portion of a Participant’s Accrued Benefit which was vested
prior to the time the Plan was no longer top-heavy shall remain vested; and provided further that a Participant who has at least three years of Vesting Service at the start of such Plan Year shall have the option of remaining under the vesting
schedule in effect while the Plan was top-heavy. Notwithstanding the foregoing, this Article XVI does not apply to the Accrued Benefit of any Participant who does not have an Hour of Service after the Plan has initially become top-heavy. 

 

 47 

 16.5 Minimum Benefit. 
  
 (a) Minimum Accrual Formula. Subject to the provisions of subsection (b) below, if the Plan is determined to be
top-heavy with respect to a Plan Year, then each Non-Key Employee who is a Participant and who completed at least one thousand (1,000) Hours of Service during such Plan Year shall accrue a benefit (expressed as a Single Life Annuity commencing at
age sixty-five (65)) which is not less than the product of (1) and (2) below (“Minimum Accrual Amount”), where: 
  
 (1) is the number of Years of Service performed while the Plan is a top-heavy plan; and 
  
 (2) is two percent (2%) of such Participant’s average
annual Code Section 415 Compensation for the period of the five (5) consecutive Plan Years during which the Plan is top-heavy for which such Participant has the highest aggregate of such compensation; 
  
 provided such product shall not exceed twenty percent (20%) of such average
Code Section 415 Compensation, and the Minimum Accrual Amount shall be determined without regard to Social Security integration. 
  
 (b) Participation in Other Plans. If a Non-Key Employee who is entitled to a Minimum Accrual Amount is a participant in both a defined contribution
plan and this Plan in a Plan Year in which this Plan is top-heavy, such Non-Key Employee shall receive an allocation under such defined contribution plan equal to five percent (5%) of his Code Section 415 Compensation for such Plan Year; provided,
however, if such Non-Key Employee is a participant in more than one defined contribution plan, such minimum contribution allocation shall be provided under only one such defined contribution plan as determined in accordance with the top-heavy
coordination provisions of such plans. 
  
 16.6 Adjustment in
Maximum Limitation on Annual Benefits. For any Plan Year with respect to which the Plan is top-heavy, the denominators of defined benefit plan fraction and the defined contribution plan fraction described in Section 6.5(g) shall be determined
under Code Section 415(e) by multiplying the dollar limitation then in effect by 1.0 instead of 1.25. 
  

 48 

 ARTICLE XVII. 
  
 Miscellaneous 
  
 17.1 Nonguarantee of Employment. Nothing contained in this Plan shall be construed as a contract of employment between an Employer and any
Employee, or as a right of any Employee to be continued in the employment of an Employer, or as a limitation of the right of an Employer to discharge any of its Employees, with or without cause. 
  
 17.2 Rights to Trust Assets. No Participant shall have any right to,
or interest in, any assets of the Trust Fund upon his Termination of Employment or otherwise, except as provided from time to time under this Plan, and then only to the extent of the benefits payable to such Participant out of the assets of the
Trust Fund. Neither the Employers, the Trustee nor any member of the Committee shall be liable to any Participant or beneficiary for benefits from this Plan, except for those payable from the Trust Fund in accordance with the terms of the Plan and
the Trust. 
  
 17.3 Nonalienation of Benefits. Except as
expressly provided for by this Plan or otherwise permitted by law, benefits payable under this Plan shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or
levy of any kind, either voluntary or involuntary, including any liability for alimony or other payments for property settlement or support of a spouse, former spouse or for any other relative of the Participant, but excluding devolution by death or
mental incompetency, prior to being received by the person entitled to the benefit under the terms of the Plan; and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any right to benefits
payable hereunder shall be void. The Trust Fund shall not in any manner be liable for, or subject to, the debts, contracts, liabilities, engagements or torts of any person entitled to benefits hereunder; provided, however, a Participant’s
benefit may be offset to the extent necessary to satisfy the Participant’s criminal conviction for a crime involving the Plan, a civil judgment (including a consent order or decree) against the Participant or a settlement agreement entered into
by the Participant, all in accordance with the provisions Code Section 401(a)(13)(C). None of the unpaid Plan benefits or Trust assets shall be considered an asset of the Participant in the event of his insolvency or bankruptcy. This Section 17.3
shall not bar any voluntary and revocable assignment to an Employer (or other designated person) by a Participant which is permitted under Treasury Regulation Section 1.401(a)-13, including any such assignment of a portion of any payment that such
Participant otherwise is entitled to receive under this Plan for the purpose of paying part or all of the costs allocable to the Participant under a retiree medical expense plan. 
  

 49 

 ARTICLE XVIII. 
  

Procedure for Identification and Processing 
  
 of Qualified Domestic Relations Orders 
  
 18.1 Definitions. The capitalized terms used in this Procedure, unless otherwise specifically defined below, shall have the same meaning as
provided in this Plan as amended from time to time. 
  
 (a)
“Alternate Payee” shall mean any spouse, former spouse, child or other dependent of a Participant who is recognized by a Domestic Relations Order as having the right to receive all or any portion of the benefits payable under the
Plan with respect to such Participant. 
  
 (b) “Domestic
Relations Order” or “Order,” used interchangeably, shall mean any judgment, decree or order of a court of competent jurisdiction, including approval of a property settlement agreement, (i) that relates to the provision of child
support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent of a Participant, and (ii) that is made pursuant to the domestic relations law of a state, including a community property law. 
  
 (c) “Qualified Domestic Relations Order” shall mean a
Domestic Relations Order that meets all of the requirements specified in this Procedure, and that creates or recognizes the existence of the right of an Alternate Payee to receive, or assigns to an Alternate Payee the right to receive, all or a
portion of the benefits payable with respect to a Participant under the Plan. The determination of the status of a Domestic Relations Order shall at all times be made in accordance with the provisions of any applicable regulations issued by the
Secretary of Labor or the Secretary of the Treasury. The Committee’s determination of the status of a Domestic Relations Order shall be final and binding on all persons. 
  
 18.2 Status of Order. The Committee shall recognize the Order as a Qualified Domestic Relations Order if the Order
satisfies all of the following requirements: 
  
 (1) The Order discloses the name and last known mailing address, if available, of the Participant and each Alternate Payee covered by the Order; provided, however, that an Order shall not fail to be a Qualified Domestic
Relations Order merely because the Order does not specify the address of the Participant or an Alternate Payee, if the Committee is otherwise aware of the address of such Participant or Alternate Payee. 
  
 (2) The Order specifies the amount or the percentage of the
Participant’s benefits to be paid to each Alternate Payee. 
  
 (3) The Order identifies the number of payments or periods to which such Order applies. 
  
 (4) The Order contains information sufficient to assure that the Order relates to the Plan. 
  

 50 

 (5) The Order does not require any type or form of payment of benefits or any option that
is not otherwise provided under the Plan (nor require payment in the form of a joint and survivor annuity with respect to the Alternate Payee and any joint annuitant); provided, however, in the case of any payment before distribution
of a Participant’s Accrued Benefit, as applicable, has commenced, an Order shall not be treated as failing to meet this requirement solely because such Order requires the payment of benefits to an Alternate Payee in a single-sum payment of the
entire benefit of such Alternate Payee. 
  
 (6)
The Order does not affect any portion of the Participant’s Accrued Benefit, as applicable, which is not fully-vested, nor any death benefit which has not been awarded at the date of the Order. 
  
 (7) The Order does not require the Plan to provide increased
benefits, as determined on the basis of actuarial value. 
  
 (8) The Order provides that any income tax basis, if any, attributable to a Participant’s Accrued Benefit, as applicable, shall be proportioned to the benefit awarded to the Alternate Payee in the same percentage
as such awarded benefit bears to such Accrued Benefit, as applicable, as of the date such Accrued Benefit is divided. 
  
 (9) The Order does not require the payment of benefits to an Alternate Payee that are required to be paid to another Alternate Payee under
another Order previously determined by the Committee to be a Qualified Domestic Relations order. 
  
 18.3 Procedural Requirements. 
  
 (a) Copy of Order. Upon receipt by the Company of a certified copy of a Domestic Relations Order, the Committee promptly shall notify the
Participant and any Alternate Payee that the Committee has received such Order and the Committee shall provide the Participant and each Alternative Payee with a copy of this Procedure. 
  
 (b) Notification. Within a reasonable time after receipt by the Committee of a Domestic Relations Order, or within
such time period as shall be established under any applicable regulations issued by the Secretary of Labor or the Secretary of the Treasury, the Committee shall determine whether the Order is a Qualified Domestic Relations Order and shall notify the
Participant and each Alternate Payee of such determination. If the Committee determines that an Order is not a Qualified Domestic Relations Order, such notice shall advise the Alternate Payee that he or she may have a right to petition the issuing
court to amend the Order. Notifications shall be sent to the addresses specified in the Domestic Relations Order, or if the Domestic Relations Order does not specify addresses, to the last known address of the Participant and the Alternate Payee.

  
 18.4 Segregation of Assets and Payments. During the
eighteen (18) month period commencing thirty (30) days after a Domestic Relations Order has been received by the Committee and before its status has been determined, any amounts that would have been payable 
  

 51 

 under the Plan to the Alternate Payee pursuant to the Order during such period shall be segregated under the Plan. If,
within such eighteen-month period, the Order is determined to be a Qualified Domestic Relations Order by the Committee, a court of competent jurisdiction, or otherwise, the Committee shall pay the segregated amounts to the persons entitled to
receive them. If it is determined that the Order is not a Qualified Domestic Relations Order or if the issue cannot be resolved within such eighteen-month period, the Committee shall cause the segregated amounts to be paid to the person or persons
who would have been entitled to receive such amounts in the absence of such Order. The payment of any benefits from the Plan to a Participant or Alternate Payee pursuant to a Qualified Domestic Relations Order shall be suspended during any period
during which the enforcement of such Order shall have been stayed by court of competent jurisdiction, if written notice of such stay is delivered to the Committee by a Participant or Alternate Payee. 
  
 18.5 Modification of Procedure. This Procedure may be modified from
time to time by the Committee in its discretion to conform with applicable rules or regulations promulgated by the Secretary of Labor or Secretary of the Treasury. 
  
  

 52 

 ARTICLE XIX. 
  
 Claims Procedure 
  
 19.1 Claims Procedure. The Committee shall adopt, and may change from time to time, claims procedures, provided that such claims procedures and
changes thereof shall conform with Section 503 of ERISA and the regulations promulgated thereunder. Such claims procedures, as in effect from time to time, shall be deemed to be incorporated herein and made a part hereof. 
  
 IN WITNESS WHEREOF, and as conclusive evidence of the adoption of the
foregoing instrument comprising the Magellan Pension Plan, as adopted effective January 1, 2004, Magellan Midstream Holdings, L.P., as the Company, has caused these presents to be duly executed in its name and behalf as of the 31ST day of December, 2003. 
  

			
	 Magellan Midstream Holdings, L.P.

	 By:
	 	 Magellan Midstream Management, LLC, Its General Partner

		
	 By:
	 	  
 /s/ John D. Chandler

	 	 	“COMPANY”

  

 53Magellan 401(k) Plan

 Exhibit 10(c) 
  
 MAGELLAN 401(k) PLAN 
  
 Effective as of January 1, 2004 

 MAGELLAN 401(k) PLAN 
  
 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page

	 ARTICLE I. Name and Purpose of Plan
	  	1
				
	 	  	 1.1
	  	 Name of Plan
	  	1
	 	  	 1.2
	  	 Purpose
	  	1
	 	  	 1.3
	  	 Exclusive Benefit of Employees
	  	1
		
	 ARTICLE II. DEFINITIONS
	  	2
				
	 	  	 2.1
	  	 Accounts
	  	2
	 	  	 2.2
	  	 Accrued Benefit
	  	2
	 	  	 2.3
	  	 Active Participant
	  	2
	 	  	 2.4
	  	 Affiliate
	  	2
	 	  	 2.5
	  	 After-Tax Account
	  	2
	 	  	 2.6
	  	 After-Tax Contributions
	  	2
	 	  	 2.7
	  	 Authorized Leave of Absence
	  	2
	 	  	 2.8
	  	 Beneficiary
	  	3
	 	  	 2.9
	  	 Benefits Committee
	  	3
	 	  	 2.10
	  	 Board of Managers
	  	3
	 	  	 2.11
	  	 Catch-up Account
	  	3
	 	  	 2.12
	  	 Catch-up Contributions
	  	3
	 	  	 2.13
	  	 Code
	  	3
	 	  	 2.14
	  	 Company
	  	3
	 	  	 2.15
	  	 Compensation
	  	3
	 	  	 2.16
	  	 Computation Period
	  	4
	 	  	 2.17
	  	 Contribution Dollar Limit
	  	4
	 	  	 2.18
	  	 Disability
	  	4
	 	  	 2.19
	  	 Earned Income
	  	4
	 	  	 2.20
	  	 Effective Date
	  	4
	 	  	 2.21
	  	 Eligible Employee
	  	4
	 	  	 2.22
	  	 Employee
	  	5
	 	  	 2.23
	  	 Employee Contribution Account
	  	5
	 	  	 2.24
	  	 Employee Contributions
	  	5
	 	  	 2.25
	  	 Employer
	  	5
	 	  	 2.26
	  	 Employer Contributions
	  	5
	 	  	 2.27
	  	 Employer Contribution Account
	  	5
	 	  	 2.28
	  	 Employer Matching Contribution Account
	  	5
	 	  	 2.29
	  	 Employer Matching Contributions
	  	5
	 	  	 2.30
	  	 Employer Discretionary Contribution Account
	  	5
	 	  	 2.31
	  	 Employer Discretionary Contributions
	  	5
	 	  	 2.32
	  	 Employer Salary Deferral Contribution Account
	  	6
	 	  	 2.33
	  	 Employer Salary Deferral Contributions
	  	6
	 	  	 2.34
	  	 ERISA
	  	6
	 	  	 2.35
	  	 Forfeiture
	  	6

  

 i 

							
	 	  	 2.36
	  	 414(s) Compensation
	  	6
	 	  	 2.37
	  	 Highly Compensated Employee
	  	6
	 	  	 2.38
	  	 Hour of Service
	  	6
	 	  	 2.39
	  	 Investment Fund
	  	8
	 	  	 2.40
	  	 Leased Employee
	  	8
	 	  	 2.41
	  	 Normal Retirement Date
	  	9
	 	  	 2.42
	  	 Non-Highly Compensated Employee
	  	9
	 	  	 2.43
	  	 One Year Break-in-Service
	  	9
	 	  	 2.44
	  	 Participant
	  	9
	 	  	 2.45
	  	 Pension Plan
	  	9
	 	  	 2.46
	  	 Plan
	  	9
	 	  	 2.47
	  	 Plan Year
	  	9
	 	  	 2.48
	  	 Pre-Tax Account
	  	9
	 	  	 2.49
	  	 Pre-Tax Contributions
	  	9
	 	  	 2.50
	  	 Qualified Domestic Relations Order
	  	9
	 	  	 2.51
	  	 Rollover Contributions
	  	9
	 	  	 2.52
	  	 Rollover Contribution Account
	  	9
	 	  	 2.53
	  	 Self-Employed Individual
	  	9
	 	  	 2.54
	  	 Termination of Employment
	  	10
	 	  	 2.55
	  	 Trust
	  	10
	 	  	 2.56
	  	 Trust Agreement
	  	10
	 	  	 2.57
	  	 Trust Fund
	  	10
	 	  	 2.58
	  	 Trustee
	  	10
	 	  	 2.59
	  	 Valuation Date
	  	10
	 	  	 2.60
	  	 Williams
	  	10
	 	  	 2.61
	  	 Williams Plan
	  	10
	 	  	 2.62
	  	 Year(s) of Service
	  	10
		
	 ARTICLE III. PARTICIPATION
	  	11
				
	 	  	 3.1
	  	 Entitlement to Participation
	  	11
	 	  	 3.2
	  	 Duration of Participation
	  	11
	 	  	 3.3
	  	 Correction for Erroneous Inclusion of Employee
	  	11
		
	 ARTICLE IV. EMPLOYEE CONTRIBUTIONS
	  	12
				
	 	  	 4.1
	  	 Requirement of Employee Contributions
	  	12
	 	  	 4.2
	  	 Amount of Employee Contributions
	  	12
	 	  	 4.3
	  	 Maximum Amount of Pre-Tax Contributions
	  	12
	 	  	 4.4
	  	 Manner of Electing
	  	13
	 	  	 4.5
	  	 Change of Election
	  	13
	 	  	 4.6
	  	 Effective Date of Election
	  	13
	 	  	 4.7
	  	 Deposit of Employee Contribution
	  	13
	 	  	 4.8
	  	 Pre-Tax Contributions
	  	14
	 	  	 4.9
	  	 Actual Deferral Percentage Test
	  	14
	 	  	 4.10
	  	 Actual Contribution Percentage Test
	  	15
	 	  	 4.11
	  	 Excess Elective Contributions
	  	16
	 	  	 4.12
	  	 Excess Aggregate Contributions
	  	17
	 	  	 4.13
	  	 Requirements for Rollover Contributions
	  	18

  

 ii 

							
	 	  	4.14	  	 Catch-up Contributions
	  	18
	 	  	4.15	  	 Recharacterizations
	  	19
		
	 ARTICLE V. EMPLOYER CONTRIBUTIONS AND ALLOCATIONS
	  	20
				
	 	  	5.1	  	 Employer Matching Contributions
	  	20
	 	  	5.2	  	 Employer Discretionary Contributions
	  	20
	 	  	5.3	  	 Employer Salary Deferral Contributions
	  	20
	 	  	5.4	  	 Deposit and Investment of Employer Matching Contributions
	  	20
	 	  	5.5	  	 Allocation of Employer Discretionary Contributions
	  	21
	 	  	5.6	  	 Determination and Amount of Employer Contributions
	  	21
	 	  	5.7	  	 Application of Forfeitures
	  	21
	 	  	5.8	  	 Maximum Contributions
	  	21
		
	 ARTICLE VI. INVESTMENT PROVISIONS
	  	24
				
	 	  	6.1	  	 Investment of Future Employee Contributions
	  	24
	 	  	6.2	  	 Investment of Employee Contribution Account and Employer Contribution Account
	  	24
		
	 ARTICLE VII. TRUST AGREEMENT AND TRUSTEE
	  	25
				
	 	  	7.1	  	 Funding Instrument
	  	25
	 	  	7.2	  	 Selection of Trustee
	  	25
	 	  	7.3	  	 Trustee’s Duties
	  	25
	 	  	7.4	  	 Trust Expenses
	  	25
	 	  	7.5	  	 Trust Entity
	  	25
	 	  	7.6	  	 Accrued Benefit
	  	25
	 	  	7.7	  	 Trust Income
	  	26
	 	  	7.8	  	 Correction of Error
	  	26
	 	  	7.9	  	 Investment Options
	  	26
	 	  	7.10	  	 Right of Employers to Trust Assets
	  	26
	 	  	7.11	  	 Establishment and Deletion of Investment Funds
	  	27
	 	  	7.12	  	 Self-directed Brokerage Fund
	  	27
		
	 ARTICLE VIII. BENEFITS
	  	28
				
	 	  	8.1	  	 Payment of Accrued Benefit on or after Normal Retirement Date or Total and Permanent Disability
	  	28
	 	  	8.2	  	 Payment of Accrued Benefit on Death
	  	28
	 	  	8.3	  	 Payment of Accrued Benefits Upon Termination of Employment; Vesting
	  	30
	 	  	8.4	  	 Withdrawal of Benefits
	  	32
	 	  	8.5	  	 Deduction of Taxes from Amounts Payable
	  	34
	 	  	8.6	  	 Special Provisions Regarding Payment of Benefits
	  	34
	 	  	8.7	  	 Minimum Distribution Requirements — IRS Model Amendment
	  	35
	 	  	8.8	  	 Facility of Payment
	  	36
	 	  	8.9	  	 Advance Payment of Benefits
	  	37
	 	  	8.10	  	 Unclaimed Amounts
	  	37
	 	  	8.11	  	 Domestic Relations Order Distributions
	  	37

  

 iii 

							
	 ARTICLE IX. ADMINISTRATION
	  	38
				
	 	  	9.1	  	 Fiduciaries
	  	38
	 	  	9.2	  	 Allocation of Responsibilities Among Named Fiduciaries
	  	38
	 	  	9.3	  	 Provisions Concerning the Benefits Committee
	  	38
	 	  	9.4	  	 Delegation of Responsibilities: Bonding
	  	40
	 	  	9.5	  	 No Joint Fiduciary Responsibilities
	  	40
	 	  	9.6	  	 Information to be Supplied by Employer
	  	40
	 	  	9.7	  	 Records
	  	41
	 	  	9.8	  	 Fiduciary Capacity
	  	41
	 	  	9.9	  	 Blackout Period Restrictions
	  	41
	 	  	9.10	  	 Military Leave
	  	41
		
	 ARTICLE X. AMENDMENT AND TERMINATION OF THE PLAN
	  	42
				
	 	  	10.1	  	 Discontinuance of Contributions
	  	42
	 	  	10.2	  	 Amendments
	  	42
	 	  	10.3	  	 Plan Termination
	  	43
	 	  	10.4	  	 Payment Upon Termination
	  	43
		
	 ARTICLE XI. TOP-HEAVY PROVISIONS
	  	44
				
	 	  	11.1	  	 Definitions
	  	44
	 	  	11.2	  	 Application of Top-Heavy Provisions
	  	44
	 	  	11.3	  	 Top-Heavy Determination
	  	45
	 	  	11.4	  	 Vesting Requirements
	  	45
	 	  	11.5	  	 Minimum Contribution Amount
	  	45
		
	 ARTICLE XII. LOANS
	  	47
				
	 	  	12.1	  	 Authorization of Loans
	  	47
	 	  	12.2	  	 Minimum Requirements for Loans
	  	47
	 	  	12.3	  	 Accounting for Loans
	  	48
	 	  	12.4	  	 Fees
	  	48
		
	 ARTICLE XIII. SPECIAL PLAN TO PLAN TRANSFERS
	  	49
				
	 	  	13.1	  	 Transfers From Other Plans
	  	49
		
	 ARTICLE XIV. DIRECT ROLLOVERS
	  	50
				
	 	  	14.1	  	 Right of Direct Rollover
	  	50
	 	  	14.2	  	 Definitions
	  	50
		
	 ARTICLE XV. MISCELLANEOUS PROVISIONS
	  	52
				
	 	  	15.1	  	 Employer Adoption
	  	52
	 	  	15.2	  	 Plan Merger
	  	52
	 	  	15.3	  	 Indemnification
	  	52
	 	  	15.4	  	 Nonalienation of Benefits
	  	52
	 	  	15.5	  	 Contract of Employment
	  	52
	 	  	15.6	  	 Source of Benefits
	  	53
	 	  	15.7	  	 Employees’ Trust
	  	53
	 	  	15.8	  	 Gender and Number
	  	53

  

 iv 

							
	 	  	15.9	  	 Headings
	  	53
	 	  	15.10	  	 Invalidity of Certain Provisions
	  	53
	 	  	15.11	  	 Law Governing
	  	53
		
	 ARTICLE XVI. CLAIM REVIEW PROCEDURES
	  	54
				
	 	  	16.1	  	 Claims Procedure
	  	54

  

 v 

 MAGELLAN 401(k) PLAN 
  
 MAGELLAN MIDSTREAM HOLDINGS, L.P., a Delaware limited partnership, hereby adopts the Magellan 401(k) Plan upon the following
terms and conditions. This instrument is intended to meet the qualification requirements of Section 401(a) of the Code. The effective date of this Plan is January 1, 2004, except as otherwise stated in the Plan. 
  
 ARTICLE I.  
  
 Name and Purpose of Plan 
  
 1.1 Name of Plan. This Plan shall be known hereafter as the MAGELLAN
401(K) PLAN. 
  
 1.2 Purpose. The purpose of this Plan is
to provide retirement and incidental benefits for the eligible Employees of the Employer; to enable Employees of the Employer who are eligible to participate in the Plan to accumulate funds to provide a retirement income; and, to distribute the
corpus and income of the funds accumulated by the Trust, in accordance with the Plan, to the Participants and their Beneficiaries. 
  
 1.3 Exclusive Benefit of Employees. This Plan and the related Trust hereto are established under and pursuant to the Employee Retirement Income
Security Act of 1974, as amended, and shall be maintained for the exclusive benefit of the eligible Employees of the Employer. The assets of the Trust Fund shall never inure to the benefit of the Employer and shall be held for the exclusive purposes
of providing Benefits to Participants and their Beneficiaries and defraying reasonable expenses of administering the Plan. 
  

 1 

 ARTICLE II. 
  
 DEFINITIONS 
  
 The following provisions of this Article provide basic definitions that are used throughout this Plan: 
  
 2.1 Accounts. The word “Accounts” means a Participant’s Employee Contribution Account and Employer
Contribution Account, and shall include all subaccounts under each such Account. 
  
 2.2 Accrued Benefit. The words “Accrued Benefit” means a Participant’s entire interest in his Accounts, determined as of any Valuation Date and reflected by the records maintained by the Trustee.
The value of an Accrued Benefit at any time shall be its value as adjusted on the coinciding or immediately preceding Valuation Date. 
  
 2.3 Active Participant. The words “Active Participant” means, for each payroll period, a Participant who makes Employee Contributions to
the Plan for such payroll period other than Catch-up Contributions and Rollover Contributions. 
  
 2.4 Affiliate. The word “Affiliate” means any corporation which is a member of the controlled group of corporations (as defined in Code Section 414(b)) which includes an Employer; any trade or
business (whether or not incorporated) which is under common control (as defined in Code Section 414(c)) with an Employer; an organization (whether or not incorporated) which is a member of a related company service group (as defined in Code Section
414(m)) which includes an Employer and any other entity required to be aggregated with an Employer pursuant to regulations under Code Section 414(o). Solely for purposes of applying the maximum limitation on Annual Additions set forth in Section
5.8, the standard of control under Code Sections 414(b) and 414(c) shall be deemed to be “more than 50%” rather than “at least 80%.” 
  
 2.5 After-Tax Account. The words “After-Tax Account” means a subaccount plus income and gains credited thereto and minus all losses,
expenses, distributions, and transfers chargeable thereto, comprised of the Participant’s After-Tax Contributions to this Plan, and, if applicable, his after-tax accounts rolled over to this Plan from another plan qualified under Section 401(a)
of the Code. 
  
 2.6 After-Tax Contributions. The words
“After-Tax Contributions” means contributions made by the Participant which are not Pre-Tax Contributions, Catch-up Contributions or Rollover Contributions. 
  
 2.7 Authorized Leave of Absence. The words “Authorized Leave of Absence” means an absence, with or without
compensation, authorized on a non-discriminatory basis by an Employer. An Authorized Leave of Absence may be granted by an Employer for sickness, Disability, accident, injury, or for other reasons and shall be granted for military service to the
extent the Plan is required to do so under applicable federal law. 
  

 2 

 2.8 Beneficiary. The word “Beneficiary” means any person designated under Section 8.2 to
receive the Accrued Benefit of a Participant that is payable under this Plan upon death. 
  
 2.9 Benefits Committee. The words “Benefits Committee” means the Employee Benefit Plans Committee comprised of that group of individuals appointed by the Chief Executive Officer of the Company from
time to time to serve as members of the Benefits Committee. 
  
 2.10 Board of Managers. The words “Board of Managers” means the board of managers of the general partner of the Company. 
  
 2.11 Catch-up Account. The words “Catch-up Account” means a sub-account, plus income and gains credited thereto and minus all losses,
expenses, distributions and transfers chargeable thereto, comprised of: the Participant’s Catch-up Contributions to this Plan. The Catch-up Account is subject to all of the withdrawal and distribution restrictions and requirements of the Plan
applicable to the Pre-Tax Account. In this regard, any withdrawal or distribution from the Catch-up Account must be made following, or contemporaneously with, the exhaustion of withdrawable amounts held in the Pre-Tax Account. 
  
 2.12 Catch-up Contributions. The words “Catch-up
Contributions” means contributions made on behalf of a Participant under the terms of Section 4.14, subject to the provisions of Code Section 414(v) and the Treasury regulations promulgated thereunder. 
  
 2.13 Code. The word “Code” means the Internal Revenue
Code of 1986, as amended from time to time, and any subsequent Internal Revenue Code. References to any section of the Code shall be deemed to include similar sections of the Code as renumbered or amended. 
  
 2.14 Company. The word “Company” means Magellan Midstream
Holdings, L.P. 
  
 2.15 Compensation. The word
“Compensation” means the first $200,000 (or such higher amount as may be permitted under Section 401(a)(17) of the Code) of salary, wages, or in the case of a Self-Employed Individual, Earned Income, paid to an Eligible Employee by an
Employer during the Plan Year while the Eligible Employee is entitled to be an Active Participant pursuant to Section 3.1, including Pre-Tax Contributions, After-Tax Contributions, Catch-up Contributions, base pay, short term disability paid by an
Employer, bonuses (unless specifically excluded under a written bonus arrangement), if any, when paid, overtime, commissions, and salary reduction amounts contributed to any cafeteria plan, flexible benefit plan, or qualified transportation plan
(Code Section 132(f)) established by an Employer, but excluding severance pay, cost of living pay, housing pay, relocation pay (including mortgage interest differential), other taxable fringe benefits, awards under the Magellan Long-Term Incentive
Plan or other similar plan, and other extraordinary compensation, all as determined by the Benefits Committee in its sole and absolute discretion. 
  
 The annual compensation of each Participant taken into account in determining benefit accruals in any Plan Year shall not exceed $200,000. Annual compensation means
compensation during the Plan Year. The $200,000 limit on annual compensation shall be adjusted for cost-of-living increases in accordance with Section 401(a)(17)(B) of the Code. The cost-of-living adjustment in effect for a calendar year applies to
annual compensation for the Plan Year that begins with such calendar year. 
  

 3 

 2.16 Computation Period . The words “Computation Period” means the calendar year.

  
 2.17 Contribution Dollar Limit. The words
“Contribution Dollar Limit” means the annual limit imposed on each Participant pursuant to Section 402(g) of the Code (as indexed pursuant to Sections 402(g)(5) and 415(d) of the Code, provided that no such adjustment will be taken into
account hereunder before the Plan Year in which it becomes effective). 
  
 2.18 Disability. The word “Disability” means the presence of a permanent and total physical or mental condition that satisfies the initial requirements for disability payments under the Employer long-term disability plan
that covers the Participant. If the Participant is not covered by an Employer maintained long-term disability plan, Disability shall have the same meaning as defined under the Social Security Act. A Participant’s Accrued Benefit shall become
fully vested in the event he incurs a Disability. 
  
 2.19
Earned Income. The words “Earned Income” means the net earnings from self-employment in a trade or business with respect to which the Plan is established by the Employer for which personal services of the individual are a material
income-producing factor regardless of the manner in which such earnings are reported. Net earnings will be determined without regard to items not included in gross income and the deductions allocable to such items. Net earnings are reduced by
contributions by the Employer to a qualified plan to the extent deductible under Section 404 of the Code. Net earnings shall be determined with regard to the deduction allowed to the Employer by Section 164(f) of the Code for taxable years beginning
after December 31, 1989. 
  
 2.20 Effective Date. The words
“Effective Date” means January 1, 2004, which is the effective date of this Plan. 
  
 2.21 Eligible Employee. The words “Eligible Employee” means any Employee of an Employer, including an Employee on an Authorized Leave of Absence, but excluding: 
  
 (a) a Leased Employee; 
  
 (b) an Employee who is a member of a collective bargaining unit, unless the
collective bargaining agreement covering such unit with the Employer expressly requires that persons covered by such agreement participate in this Plan; 
  
 (c) a nonresident alien with no U.S. source income; 
  
 (d) a person in a class of employees specifically excluded from participating by the document of adoption of a Participating Company; and 
  
 (e) any individual retained by an Employer directly or through an agency or
other party to perform services for an Employer in the capacity of a fee-for-service worker or independent contractor or any similar capacity including, without limitation, any such individual employed by temporary help firms, technical help firms,
staffing firms, employee leasing firms, professional employer organizations or other staffing firms, regardless of any subsequent reclassification or determination of such person to be a “common law” employee of the Employer. 

 

 4 

 2.22 Employee. The word “Employee” means any individual who is (i) employed as a common
law employee by an Employer or an Affiliate, or (ii) a Self-Employed Individual. 
  
 2.23 Employee Contribution Account. The words “Employee Contribution Account” means the aggregate of, as applicable, a Participant’s interest in his After-Tax Account, Pre-Tax Account, Catch-up
Account, and Rollover Contribution Account. 
  
 2.24 Employee
Contributions. The words “Employee Contributions” means a Participant’s Pre-Tax Contributions, Catch-up Contributions, Rollover Contributions and After-Tax Contributions. 
  
 2.25 Employer. The word “Employer” means the Company and any
Affiliate which has become a party to this Plan. 
  
 2.26
Employer Contributions. The words “Employer Contributions” means the payments made from time to time by an Employer to the Trustee designated as Employer Salary Deferral Contributions, Employer Matching Contributions, or Employer
Discretionary Contributions. 
  
 2.27 Employer Contribution
Account. The words “Employer Contribution Account” means, the aggregate of, as applicable, a Participant’s Employer Matching Contribution Account, Employer Discretionary Contribution Account, and Employer Salary Deferral
Contribution Account. 
  
 2.28 Employer Matching Contribution
Account. The words “Employer Matching Contribution Account” means a subaccount plus income and gains thereto and minus all losses, expenses, and distributions chargeable thereto, comprised of: Employer Matching Contributions allocated
with respect to Compensation paid to a Participant on or after the Effective Date. 
  
 2.29 Employer Matching Contributions. The words “Employer Matching Contributions” means the payments made from time to time by an Employer to the Trustee designated as contributions to be credited to
the Employer Matching Contribution Account of each Participant for whom such Employer contributes to the Plan in accordance with Section 5.1. 
  
 2.30 Employer Discretionary Contribution Account. The words “Employer Discretionary Contribution Account” means a subaccount, plus all
income and gains credited thereto, and minus all losses, expenses and distributions chargeable thereto, comprised of: Employer Discretionary Contributions allocated to a Participant. 
  
 2.31 Employer Discretionary Contributions. The words “Employer Discretionary Contributions” means the
payments made from time to time by an Employer to the Trustee designated as contributions to be credited to the Employer Discretionary Contribution Account of each Participant for whom such Employer contributes to the Plan in accordance with Section
5.2. 
  

 5 

 2.32 Employer Salary Deferral Contribution Account. The words “Employer Salary Deferral
Contribution Account” means a subaccount, plus all income and gains credited thereto, and minus all losses, expenses and distributions chargeable thereto, comprised of Employer Salary Deferral Contributions allocated to a Participant.

  
 2.33 Employer Salary Deferral Contributions. The words
“Employer Salary Deferral Contributions” means the payments made from time to time by an Employer to the Trustee in accordance with Section 4.9 or 4.10 to satisfy the nondiscrimination tests set forth in Article IV or in accordance with
Section 5.3 as discretionary contributions. All such payments shall be allocated to a subaccount of the Employer Contribution Account maintained for the Participant on whose behalf any such payment is made. Notwithstanding any other provision of the
Plan, no amount held in such subaccount maintained on behalf of any Participant may be withdrawn prior to the earlier of such Participant’s Termination of Employment or reaching 59 1/2. 
  
 2.34 ERISA. The acronym “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
  
 2.35 Forfeiture. The word “Forfeiture” means the portion of
a Participant’s Accrued Benefit which is forfeited pursuant to the terms of the Plan. 
  
 2.36 414(s) Compensation. The words “414(s) Compensation” means the first $200,000 (or such other amount as may be permitted under Section 401(a)(17) of the Code) of an Employee’s compensation
within the meaning of Code Section 415(c)(3) subject to the following adjustments, if the Benefits Committee determines, in its discretion, to make such adjustments for a Plan Year. The Benefits Committee may elect to exclude all of the following
items for a Plan Year, namely, elective contributions that are made by an Employer on behalf of its employees that are not includable in gross income under Code Section 125, 132(f)(4), 402(e)(3), 402(h) and 403(b). In addition, the Benefits
Committee may make such further adjustments as are permitted under applicable regulations or rulings issued by the Internal Revenue Service. 
  
 2.37 Highly Compensated Employee. The words “Highly Compensated Employee” means, applying the provisions of Subsections (a) and (b)
below, an Employee performing services for an Employer or an Affiliate during the current Plan Year who: 
  
 (a) during either the current Plan Year, or the immediately preceding Plan Year was a 5% owner of an Employer or an Affiliate; or (2) for the immediately
preceding Plan Year received 414(s) Compensation from an Employer or an Affiliate in excess of $90,000 (as adjusted pursuant to Code Section 414(q) from time to time). 
  
 (b) The determination of who is a Highly Compensated Employee, including the number of Employees treated as excluded shall
be made in accordance with Code Section 414(q) and the regulations or other guidance thereunder. 
  
 2.38 Hour of Service. The words “Hours of Service” means: 
  
 (a) each hour for which the Employee is paid, or entitled to payment, directly or indirectly, from an Employer or an
Affiliate; provided, however, if records of such actual hours are not maintained for an Employee, such Employee shall be credited with 190 Hours of Service for each month in which the Employee is paid, or entitled to payment, with respect to one
Hour of Service. The term shall include service of a Self-Employed Individual with the Employer; 
  

 6 

 (b) each hour for which back pay, irrespective of mitigation of damages, is awarded to the Employee or
agreed to by the Employer or an Affiliate; and 
  
 (c) each hour
an Employee is paid or entitled to payment by an Employer or an Affiliate on account of a period of time during which no duties are performed due vacation, holiday, illness, incapacity (including disability), lay-off, jury duty, military duty or
leave of absence. An Hour of Service for which an Employee is directly or indirectly paid or entitled to payment on account of a period during which the Employee performed no duties shall not be credited to the Employee, if such payment is made or
due under a plan maintained solely for the purpose of complying with any applicable worker’s compensation, disability insurance, or unemployment compensation law. Hours of Service also shall not be credited for a payment which solely reimburses
the Employee for medical or medically related expenses incurred by the Employee. Not more than 501 Hours of Service shall be credited under this Subsection (c) to the Employee on account of any single continuous period during which the Employee
performs no duties (whether or not such period occurs in a single Computation Period). For purposes of this Subsection (c), a payment shall be deemed to be made by or due from an Employer regardless of whether such payment is made by or due from an
Employer directly, or indirectly through, among others, a trust fund, or insurer, to which an Employer contributes or pays premiums and regardless of whether contributions made or due to the trust fund, insurer or other entity are for the benefit of
particular employees or are on behalf of a group of employees in the aggregate. 
  
 (d) Solely for purposes of determining whether an Employee has incurred a One Year Break-in-Service, an Employee who is not otherwise credited with an Hour of Service under Subsection (a), (b) or (c), above, shall be
credited with an Hour of Service for each additional hour which is part of an Employee’s customary work week with an Employer or an Affiliate during which the Employee is on an unpaid Authorized Leave of Absence, provided the Employee resumes
employment with an Employer or an Affiliate upon the expiration of such Authorized Leave of Absence. For purposes of this Subsection (d), an Employee’s customary work week will consist of five, 8-hour days. 
  
 (e) Solely for purposes of determining whether a One Year Break-in-Service
has occurred for purposes of determining vesting, an Employee who is absent from work beginning on or after January 1, 1985 for maternity or paternity reasons and who is not otherwise credited with an Hour of Service under Subsections (a), (b), (c)
or (d), above, shall receive credit for the Hours of Service for which he would have been regularly scheduled had the Employee performed duties for an Employer or an Affiliate during such absence, or in the absence of a regularly scheduled number of
hours, 40 hours per week (or eight hours per day). For purposes of such determination, an absence from work for maternity or paternity reasons means an absence (i) by reason of the pregnancy of the Employee, (ii) by reason of the birth of a child of
such Employee, (iii) by reason of the placement of a child with the Employee in connection with the adoption of such child by the Employee, or (iv) for purposes of caring for such child for a period beginning immediately following such birth or
placement. Hours of Service credited for purposes of such determination shall be credited in the Computation Period in which such 
  

 7 

 
absence begins, if necessary to prevent a One Year Break-in-Service in such period, or, in all other cases, in the next following Computation Period. In no
event will more than 501 Hours of Service be credited for any single continuous period of time during which the person did not or would not have performed duties. The Benefits Committee may, in its discretion, require an Employee who is absent from
work for maternity or paternity reasons to furnish information to the Benefits Committee to establish that the Employee’s absence from work is for maternity or paternity reasons and the number of days for which there was such an absence. Each
Employer reserves the right to terminate the employment of any Employee who is absent from work without authorization, without regard to whether such Employee is entitled to be credited for Hours of Service pursuant to this Subsection. 

 
 (f) With respect to an Employee whose employment is transferred from
Williams and its affiliates to the Company and its affiliates on October 1, 2003 each hour which was credited to such individual under the Williams Plan as of the Employee’s transfer date. 
  
 (g) With respect to an Employee whose employment is transferred from Williams
and its affiliates to the Company and its affiliates on or after January 1, 2004 but before January 1, 2005 each hour which was credited to such individual under the Williams Plan as of the Employee’s transfer date. 
  
 (h) The same Hours of Service shall not be credited more than once under any
provision of this definition of Hour of Service. The determination of Hours of Service for reasons other than the performance of duties shall be made in accordance with the provisions of Labor Department Regulations, 29 C.F.R. §2530.200b-2(b),
and Hours of Service shall be credited to Computation Periods in accordance with the provisions of Labor Department Regulations, 29 C.F.R. §2530.200b-2(c). 
  

2.39 Investment Fund. The words “Investment Fund” means one or more or all of the funds listed from time to time on Appendix I.

  
 2.40 Leased Employee. The words “Leased
Employee” means an individual who is not in the employ of an Employer or an Affiliate and who, pursuant to an agreement between an Employer or an Affiliate and any other person (“leasing organization”), provides services to such
Employer or Affiliate and has provided services to an Employer or an Affiliate on a substantially full-time basis for a period of at least one year, with such services being performed under the primary direction or control of such Employer or
Affiliate; provided, however, if such individuals constitute less than twenty percent of the non-highly compensated workforce (within the meaning of Code Section 414(n)(5)(C)(ii)) of the Employers or their Affiliates, such an individual shall not be
included in such meaning if a leasing organization covers such an individual in a money purchase pension plan which provides immediate participation, full and immediate vesting and a non-integrated contribution formula equal to at least ten percent
of such individual’s annual compensation (as defined in Code Section 415(c)(3)), increased, prior to January 1, 1998, by amounts contributed pursuant to a salary reduction agreement which are excluded from such individual’s gross income
under Code Sections 125, 402(e)(3), 402(h)(1)(B) or 403(b)); and provided further, if such individual shall be deemed to be a Leased Employee of an Employer or an Affiliate, any contributions or benefits provided by such leasing organization which
are attributable to services of such individual performed for an Employer or an Affiliate shall be treated as provided by such Employer or Affiliate. 
  

 8 

 2.41 Normal Retirement Date. The words “Normal Retirement Date” means the date on which
a Participant attains (or would have attained if he had lived) age 65. The Accrued Benefit of a Participant who is an Employee on the date he attains age 65 shall become nonforfeitable on and after such date. 
  
 2.42 Non-Highly Compensated Employee. The words “Non-Highly
Compensated Employee” means an Employee of an Employer or an Affiliate who is not a Highly Compensated Employee in the applicable period. 
  
 2.43 One Year Break-in-Service. The words “One Year Break-in-Service” means a Computation Period within which an Employee completes not
more than 500 Hours of Service. 
  
 2.44 Participant. The
word “Participant” means an Eligible Employee participating in the Plan as provided in Article III. 
  
 2.45 Pension Plan. The words “Pension Plan” means any qualified defined benefit plan maintained by an Employer in which the Participant
participates. 
  
 2.46 Plan. The word
“Plan” means the Magellan 401(k) Plan, as set forth herein and hereafter amended from time to time. 
  
 2.47 Plan Year. The words “Plan Year” means a 12-consecutive month period commencing on each January 1. 
  
 2.48 Pre-Tax Account. The words “Pre-Tax Account” means a
subaccount, plus income and gains credited thereto and minus all losses, expenses and distributions chargeable thereto, comprised of a Participant’s Pre-Tax Contributions under this Plan. 
  
 2.49 Pre-Tax Contributions. The words “Pre-Tax
Contributions” means contributions made on behalf of a Participant under the terms of Section 4.8. 
  
 2.50 Qualified Domestic Relations Order. The words “Qualified Domestic Relations Order” has the meaning set forth in Code Section 414(p).

  
 2.51 Rollover Contributions. The words “Rollover
Contributions” means contributions made by a Participant under the terms of Section 4.13. 
  
 2.52 Rollover Contribution Account. The words “Rollover Contribution Account” means a subaccount, plus income and gains credited thereto and minus all losses, expenses and distributions chargeable
thereto, comprised of: the Participant’s Rollover Contributions to this Plan. 
  
 2.53 Self-Employed Individual. The words “Self-Employed Individual” shall mean a partner who is an executive officer of the Employer and who has Earned Income for the taxable year from the trade or
business for which the Plan is adopted and established; and, such definition shall also include an individual who would have had Earned Income but for the fact that the trade or business had no “net profits” for the taxable year.

  

 9 

 2.54 Termination of Employment. The words “Termination of Employment” means ceasing to
be an Employee. 
  
 2.55 Trust. The word “Trust”
means the legal entity resulting from the Trust Agreement (and any amendments thereto) between the Company and the Trustee, by which Employer Contributions and Employee Contributions shall be received, held, invested and distributed to or for the
benefit of the Participants and Beneficiaries. 
  
 2.56 Trust
Agreement. The words “Trust Agreement” means the agreement between the Company and the Trustee, as amended from time to time. 
  
 2.57 Trust Fund. The words “Trust Fund” means all property, real or personal, received or held by the Trustee, plus all income and gains
and minus all losses, expenses, and distributions chargeable thereto. 
  
 2.58 Trustee. The word “Trustee” means any corporation, national banking association with trust powers, individual or individuals who shall accept the appointment as Trustee to execute the duties of the Trustee as
specifically set forth in the Trust Agreement. 
  
 2.59
Valuation Date. The words “Valuation Date” means each day of the Plan Year on which Investment Funds are valued, as determined by the Benefits Committee in its sole discretion. 
  
 2.60 Williams. The word “Williams” means The Williams
Companies, Inc. 
  
 2.61 Williams Plan. The words
“Williams Plan” means The Williams Investment Plus Plan. 
  
 2.62 Year(s) of Service. The words “Year(s) of Service” means a Computation Period within which an Employee completes at least 1,000 Hours of Service and includes the sum of: 
  
 (a) with respect to an individual who becomes an Employee pursuant to the
purchase agreement with Williams, the Employee’s Years of Service credited under the Williams Plan as of his employment transfer date; plus 
  
 (b) each Year of Service earned after the Effective Date, provided that no Year of Service shall be earned for 2003 if the service credited under clause
(a) above includes credit for a Year of Service with respect to 2003; plus 
  
 (c) any service designated as Plan service by the Benefits Committee in connection with an acquisition; plus 
  
 (d) any service with an Employer or an Affiliate as a Leased Employee, if such service would have constituted a Year of Service under the applicable
provisions of this Plan, if the Leased Employee had been a common law employee of an Employer or Affiliate. 
  

 10 

 ARTICLE III. 
  
 PARTICIPATION 
  
 3.1 Entitlement to Participation. Any Employee shall be entitled to become a Participant as soon as administratively feasible following the date he
becomes (or again becomes) an Eligible Employee. 
  
 3.2
Duration of Participation. An Eligible Employee who is entitled to become a Participant under Section 3.1 shall become an Active Participant as of the date he commences to make Employee Contributions (excluding Catch-up Contributions and
Rollover Contributions) to this Plan in accordance with Section 4.2. By electing to make such contributions, an Employee agrees to be bound by the terms and conditions of this Plan. Participation as an Active Participant shall continue during any
period in which an Eligible Employee makes Employee Contributions (excluding Catch-up Contributions and Rollover Contributions) to this Plan. A person shall continue as a Participant until the entire Accrued Benefit of such person has been
distributed and/or forfeited pursuant to the terms of this Plan. 
  
 3.3 Correction for Erroneous Inclusion of Employee. If in any Plan Year, any Employee who should be omitted as a Participant is erroneously included and discovery of such inclusion is not made until after a contribution by the
Employer and/or Employee has been made and allocated, any erroneous Pre-Tax Contributions, After-Tax Contributions, Catch-up Contributions, and attributable earnings thereon will be returned to the Employee as soon as practicable after the discovery
of the error. Any Employer Matching Contributions, Employer Discretionary Contributions, and attributable earnings (or loss) relating to such error shall immediately become a Forfeiture. 
  

 11 

 ARTICLE IV. 
  
 EMPLOYEE CONTRIBUTIONS 
  
 4.1 Requirement of Employee Contributions. Except as required by the provisions set forth in Article XI or as provided by Section 5.2, an Eligible
Employee shall not be entitled to an allocation of Employer Matching Contributions for any period of time during which, or based upon any Compensation from which, he does not make Employee Contributions (excluding Catch-up Contributions and Rollover
Contributions) to this Plan. Employee Contributions may not be made-up by any person, unless permitted by the Benefits Committee. 
  
 4.2 Amount of Employee Contributions. To satisfy the requirements of Section 4.1 and to become an Active Participant, an Eligible Employee, who has
satisfied the participation requirements of Section 3.1, may elect in the manner described in Section 4.4 to contribute to this Plan during each pay period by: (i) payroll salary reduction in the form of Pre-Tax Contributions any whole percentage
from 1% through 30% (or such other percentage as may be established from time to time by the Benefits Committee for all Eligible Employees or such lower percentage as may be established only for Highly Compensated Employees) of his Compensation for
such pay period, and (ii) by payroll deduction or such other method approved by the Benefits Committee in the form of After-Tax Contributions any whole percentage from 1% through 30% (or such other percentage as may be established from time to time
by the Benefits Committee for all Eligible Employees or such lower percentage as may be established only for Highly Compensated Employees) of his Compensation for such pay period; provided, the total After-Tax Contributions when added to Pre-Tax
Contributions may never exceed 30% of his Compensation for such pay period; if exceeded, the Participant’s After-Tax Contributions shall be reduced as necessary. If the limitation of Section 4.3 prevents further Pre-Tax Contributions on behalf
of a Participant for a Plan Year, his election of Pre-Tax Contributions shall be treated as an election of After-Tax Contributions for the remainder of such Plan Year. 
  
 4.3 Maximum Amount of Pre-Tax Contributions. The aggregate Pre-Tax Contributions made on behalf of each Participant
under the Plan for any Plan Year will not exceed: 
  
 (a) the
Contribution Dollar Limit, reduced by: 
  
 (b) the sum of any of
the following amounts that were contributed on behalf of the Participant for the Plan Year under a plan, contract, or arrangement other than this Plan: 
  
 (1) any employer contribution under a qualified cash or deferred arrangement (as defined in Section 401(k) of the Code) to the extent not includable in
the Participant’s gross income for the taxable year under Code Section 402(e)(3) (determined without regard to Code Section 402(g)); 
  
 (2) any employer contribution to the extent not includable in the Participant’s gross income for the taxable year under Code Section 402(h)(1)(B)
(determined without regard to Code Section 402(g)); 
  

 12 

 (3) any employer contribution to purchase an annuity contract under Section 403(b) of the Code under a
salary reduction agreement (within the meaning of Code Section 3121(a)(5)(D)); and 
  
 (4) any elective employer contribution under Code Section 408(p)(2)(A)(i); 
  
 provided that no contribution described in this Subsection (b) will be taken into account for the purpose of reducing the dollar limit in Subsection (a), above, if the plan, contract, or arrangement is not maintained
by the Company or an Affiliate unless the Participant has filed a notice with the Benefits Committee not later than March 15 of the next Plan Year regarding such contribution. In the event that the Pre-Tax Contributions to the Plan for any
Participant exceed the limitations described above, the Benefits Committee shall return, not later than the first April 15 following the close of the taxable year, the Pre-Tax Contribution in excess of the limitations described above, together with
any income allocable thereto, to the affected Participant. Any Employer Matching Contributions and income allocable thereto which are attributable to excess Pre-Tax Contributions shall be deemed a Forfeiture. 
  
 4.4 Manner of Electing. To satisfy the requirements of Section 4.1, an
Eligible Employee shall provide all necessary proper instructions, voice or otherwise, required by the Trustee, in its sole discretion, to enroll in the Plan, including the authorization of the Employer, to deduct from or reduce the Employee’s
Compensation through payroll deduction or payroll salary reduction by an amount equal to the product of (i) the contribution percentage selected by the Employee multiplied by (ii) the Employee’s Compensation for the applicable payroll periods.
If the Benefits Committee authorizes other methods of making Employee Contributions to satisfy the requirements of Section 4.1, an Eligible Employee shall provide to the Benefits Committee or the Trustee proper instructions, voice or otherwise,
authorized by the Benefits Committee for that purpose. 
  
 4.5
Change of Election. Subject to the temporary suspensions for withdrawals under Section 8.4 and the adjustment provisions of Sections 5.8 and 4.9 through 4.12, a contribution percentage selected by the Participant shall continue in effect,
notwithstanding any change in his Compensation, until the earliest of the date (1) his election to change his contribution percentage is effective, or (2) he ceases to be an Eligible Employee. 
  
 4.6 Effective Date of Election. A contribution percentage election or
change of such election made by an Eligible Employee shall be effective as soon as administratively feasible after proper instructions, voice or otherwise, are given by the Eligible Employee to the Trustee. 
  
 4.7 Deposit of Employee Contribution. All Employee Contributions for
any payroll period shall be delivered to the Trustee as soon as practicable and shall be held for investment by the Trustee under the Trust Agreement in accordance with the Participant’s elections under Section 6.1. An After-Tax Account and a
Pre-Tax Account shall be established on behalf of each Participant to record the amount of After-Tax Contributions and Pre-Tax Contributions respectively made by such Participant to the Plan. Income and gains earned on the Participant’s
Employee Contribution Accounts shall be credited thereto and losses, expenses and distributions chargeable to the Participant’s Employee Contribution Accounts shall be deducted therefrom. 
  

 13 

 4.8 Pre-Tax Contributions. Subject to the limitations of Sections 4.3, 5.8 and 4.9 through 4.12,
Pre-Tax Contributions for a Participant shall consist of the dollar amount of Employee Contributions for a particular year or a particular period of time that result from a Participant’s electing to have some or all of his Employer
Contributions made by his Employer in the form of a pre-tax salary reduction. Each Participant may elect to have his Compensation reduced by a contribution percentage designated by him under Section 4.4 for the balance of the calendar year
subsequent to such election. All such elections may be made to be effective on the date of becoming eligible for this Plan or on a later date. The contribution percentage of a Participant can be changed pursuant to Section 4.5 or 4.9. 
  
 4.9 Actual Deferral Percentage Test. The Plan will satisfy:

  
 (a) the actual deferral percentage test set forth in Code
Section 401(k)(3) and Treasury Regulation §1.401(k)-1(b), the provisions of which (and any subsequent Internal Revenue Service guidance issued thereunder) are incorporated herein by reference, each as modified by subsection (b), below. In
accordance with Code Section 401(k)(3) and Treasury Regulation §1.401(k)-1(b), as modified by Subsection (b), below, the actual deferral percentage for Highly Compensated Employees for any Plan Year will not exceed the greater of: 

 
 (1) the actual deferral percentage for Non-Highly Compensated Employees
for the current Plan Year multiplied by 1.25, or 
  
 (2) the
lesser of (i) the actual deferral percentage for Non-Highly Compensated Employees for the current Plan Year multiplied by 2 and (ii) the actual deferral percentage for Non-Highly Compensated Employees for the current Plan Year plus 2%. 

 
 (b) In performing the actual deferral percentage test described in
Subsection (a), above, the following special rules will apply: 
  
 (1) the deferral percentages of Participants who are covered by a collective bargaining agreement between employee representatives and an Employer will be disaggregated from the deferral percentages of other Participants and the provisions
of this Section 4.9 will be applied separately with respect to each group. 
  
 (2) Employees who have not become eligible to become Participants will be disregarded in applying this Section 4.9. 
  
 (3) The Benefits Committee may permissively aggregate the Plan with other plans to the extent permitted under Treasury Regulation §1.401(k)-1; and

  
 (4) The Benefits Committee may permissively disaggregate the
deferral percentages of Participants under the age of 21 or with less than one Year of Service and apply the provisions of this Section separately with respect to such Participants and the remaining Participants as permitted under applicable
Treasury Regulations. 
  
 (c) In the event the actual deferral
percentage test for a Plan Year is not satisfied, (1) the Employers may make qualified nonelective Employer Salary Deferral Contributions allocated to Participants who are Nonhighly Compensated Employees included in 
  

 14 

 such tests beginning with the lowest paid Participant in an amount equal to the lesser of (a) the maximum amount
contributable under the Plan or (b) the amount necessary to satisfy the actual deferral percentage test, and then to the next lowest paid Participant with the contribution repeating until the Employer Salary Deferral Contribution is fully allocated,
(2) the Benefits Committee may distribute the Excess Elective Contributions of Highly Compensated Employees in accordance with Section 4.11, or (3) a combination of the foregoing remedies may be applied in order that one of the foregoing tests is
met for such Plan Year in accordance with the requirements of Code Section 401(k) and regulations promulgated thereunder. In all events, one of the foregoing tests shall be met with respect to each Plan Year. 
  
 In the event that the Benefits Committee, at its sole discretion, estimates that the Pre-Tax
Contributions which will be made to the Plan with respect to a Plan Year will not satisfy any of the tests set forth above, the Benefits Committee may reduce or adjust, at any time or times before the close of the Plan Year, the maximum percentage
of Compensation that all Highly Compensated Employees shall be permitted to elect to contribute as Pre-Tax Contributions for the remainder of the Plan Year to meet one of the tests set forth above. 
  
 4.10 Actual Contribution Percentage Test. The Plan will satisfy:

  
 (a) the actual contribution percentage test set forth in Code
Section 401(m)(2) and Treasury Regulation §1.401(m)-1(b), the provisions of which (and any subsequent Internal Revenue Service guidance issued thereunder) are incorporated herein by reference, each as modified by Subsection (b) below. In
accordance with Code Section 401(m)(2) and Treasury Regulation §1.401(m)-1(b), as modified by Subsection (b) below, the actual contribution percentage for Highly Compensated Employees for any Plan Year will not exceed the greater of:

  
 (1) the actual contribution percentage for Non-Highly
Compensated Employees for the current Plan Year multiplied by 1.25, or 
  
 (2) the lesser of (i) the actual contribution percentage for Non-Highly Compensated Employees for the current Plan Year multiplied by 2 and (ii) the actual contribution percentage for Non-Highly Compensated Employees for the current Plan
Year plus 2%. 
  
 (b) In performing the actual contribution
percentage test described in Subsection (a), above, the following special rules will apply: 
  
 (1) the limit imposed by the actual contribution percentage test will apply only to Highly Compensated Employees and Non-Highly Compensated Employees who are not covered by a collective bargaining agreement between
employee representatives and an Employer; 
  
 (2) Employees who
have not become eligible to become Participants will be disregarded in applying this Section 4.10. 
  
 (3) The Administrator may permissively aggregate the Plan with other plans to the extent permitted under Treasury Regulation §1.401(m)-1.

  

 15 

 (4) The Benefits Committee may permissively disaggregate the deferral percentages of Participants under
the age of 21 or with less than one Year of Service and apply the provisions of this section separately with respect to such Participants and the remaining Participants as permitted under applicable Treasury Regulations. 
  
 (5) Notwithstanding anything in the Plan to the contrary, the multiple use
test described in Treas. Reg. § 1.401(m)-2 shall not apply. 
  
 (c) In the event the actual contribution percentage test for a Plan Year is not satisfied, (1) the Employers may make qualified nonelective Employer Salary Deferral Contributions allocated to Participants who are those Nonhighly Compensated
Employees included in such tests beginning with the lowest paid Participant in an amount equal to the lesser of (a) the maximum amount contributable under the Plan or (b) the amount necessary to satisfy the actual contribution percentage test, and
then to the next lowest paid Participant with the contribution repeating until the Employer Salary Deferral Contribution is fully allocated,, (2) the Benefits Committee may distribute Excess Aggregate Contributions in accordance with Section 4.12,
or (3) a combination of the foregoing remedies may be applied in order that one of the foregoing tests is met for such Plan Year in accordance with the requirements of Code Section 401(m) and regulations promulgated thereunder. In all events,
foregoing tests set forth above shall be met with respect to each Plan Year. 
  
 In the event that the Benefits Committee, at its sole discretion, estimates that the Employer Matching Contributions and After-Tax Contributions made to the Plan with respect to a Plan Year will not satisfy any of the tests set forth above,
the Benefits Committee may reduce or adjust at any time or times before the close of the Plan Year the maximum percentage of Compensation that all Highly Compensated Employees shall be permitted to receive as Employer Matching Contributions or
After-Tax Contributions for the remainder of the Plan Year in order to attempt to meet one of the tests set forth above. 
  
 4.11 Excess Elective Contributions. 
  
 (a) If one of the tests described in Section 4.9 is not satisfied after taking into account any Employee Salary Deferral Contributions, if any, made or to
be made (before the end of the next following Plan Year), as described in Section 4.9 with respect to a Plan Year, the Benefits Committee shall determine the excess Pre-Tax Contributions (“Excess Elective Contributions”) of each Highly
Compensated Employee for such Plan Year by applying the method described in applicable regulations. 
  
 (b) The Benefits Committee may adjust the contributions of each affected Highly Compensated Employee by causing Excess Elective Contributions to be (i)
recharacterized as Catch-up Contributions pursuant to the provisions of Section 4.15(b) to the maximum extent possible, and (ii) distributed to the extent of any Excess Elective Contributions remaining after such recharacterization. Employer
Matching Contributions and income allocable thereto which are attributable to Excess Elective Contributions which have been recharacterized as Catch-up Contributions shall be deemed a Forfeiture. Such distributions shall be distributed to such
Highly Compensated Employees in accordance with the provisions of Code Section 401(k)(8)(C) on the basis of the contribution amounts by, or on behalf of, each such person taken 
  

 16 

 into account in determining such person’s actual deferral percentage. Any such distribution shall be completed no
later than the first March 15 following the end of such Plan Year, if the Benefits Committee desires to avoid the penalty tax under Code Section 4979, but in no event later than the end of the first twelve-month period following the end of such Plan
Year. The amount of Excess Elective Contributions to be distributed shall be reduced by any excess deferrals previously distributed with respect to the Plan Year in accordance with Section 4.3. Income allocable to distributed Excess Elective
Contributions with respect to a Plan Year shall be distributed therewith and shall include income for such Plan Year but not for the gap period between the end of such Plan Year and the date of distribution of such Excess Elective Contributions. In
addition, any Employer Matching Contributions and income allocable thereto which are attributable to Excess Elective Contributions shall be deemed a Forfeiture. 
  

4.12 Excess Aggregate Contributions. 
  
 (a) If one of the tests described in Section 4.10 is not satisfied after taking into account any supplemental contributions allocated or to be allocated
(before the end of the next following Plan Year) as described in Section 4.10(d) with respect to a Plan Year, the Benefits Committee shall determine the aggregate excess Employer Matching Contributions, After-Tax Contributions, and, if applicable,
Pre-Tax Contributions and/or Employer Salary Deferral Contributions (“Excess Aggregate Contributions”) of each Highly Compensated Employee for such Plan Year by applying the method described in applicable regulations. 
  
 (b) The Benefits Committee shall cause distribution of Excess Aggregate
Contributions and income allocable thereto in accordance with Treasury Regulations Sections 1.401(m)-1(e)(3), (4) and (6) to each affected Highly Compensated Employee no later than the first March 15 following the end of such Plan Year, if the
Benefits Committee desires to avoid the penalty tax under Code Section 4979, but in no event later than the end of the first twelve-month period following the end of such Plan Year. Such distributions shall be distributed to such Highly Compensated
Employees in accordance with the provisions of Code Section 401(m)(6)(C) on the basis of the contribution amounts by, or on behalf of, each such person taken into account in determining such person’s contribution percentage. Income allocable to
Excess Aggregate Contributions with respect to a Plan Year shall be distributed therewith and shall include income for such Plan Year but not for the gap period between the end of such Plan Year and the date of distribution of such Excess Aggregate
Contributions. Excess Aggregate Contributions shall be distributed by contribution amounts in the following order to the extent necessary to distribute a Participant’s Excess Aggregate Contributions for a Plan Year: (i) unmatched After-Tax
Contributions; (ii) unmatched Pre-Tax Contributions, if included in Excess Aggregate Contributions; (iii) matched After-Tax Contributions and Employer Matching Contributions in equal amounts; and (iv) if included in Excess Aggregate Contributions,
matched Pre-Tax Contributions and Employer Matching Contributions in equal amounts. In the event the Participant’s Employer Matching Contribution Account is not fully-vested, any distribution of Employer Matching Contributions shall be
accounted for by actual distribution of a portion of the total amount of such contribution included in Excess Aggregate Contributions determined by the Participant’s vested percentage at the end of such Plan Year and treating the balance of
such contributions as a Forfeiture for such Plan Year as if on account of a distribution pursuant to Section 8.3. 
  

 17 

 4.13 Requirements for Rollover Contributions. An Eligible Employee may make a Rollover
Contribution to the Plan only in accordance with the provisions of this Section 4.13, and all such contributions shall be in the form of cash and may include Plan loans, if the rollover of such loans are permitted by the Benefits Committee in
connection with an acquisition of stock or assets by an Employer. The Plan will accept a direct rollover of an eligible rollover distribution from a qualified plan described in Section 401(a) or 403(a) of the Code, including after-tax employee
contributions. In addition, the Plan will accept a Participant contribution of an eligible rollover distribution from a qualified plan described in section 401(a) or 403(a) of the Code. The Plan will also accept a Participant rollover contribution
of the portion of a distribution from an individual retirement account described in Section 408(a) of the Code that is eligible to be rolled over and would otherwise be includible in gross income. The Plan will also accept a rollover of a loan
pursuant to the provisions of Section 12.2 herein if the loan rollover is made in connection with the purchase of the stock or assets of another entity by the Employer. The Benefits Committee shall determine in its discretion whether or not a loan
rollover is in connection with the purchase of the stock or assets of another entity by the Employer provided that such determination shall be made in a reasonable and nondiscriminatory manner. 
  
 The Benefits Committee, in its discretion, shall determine in every instance whether the
foregoing criteria have been met prior to acceptance of any such contribution. The Benefits Committee may request of the Eligible Employee any documents or evidence it deems necessary and may seek the advice of counsel to assist it in making such a
determination. Rollover Contributions shall be paid to the Trustee in cash or such other form of payment as may be approved by the Benefits Committee in its discretion. An indirect Rollover Contribution shall be delivered to the Trustee as soon as
practicable, but in no event later than 60 days after the amount thereof was received by the Eligible Employee. The Trustee shall invest such cash portion of the Rollover Contribution in accordance with the proper written instructions provided to
the Trustee on the appropriate form as directed by the Eligible Employee. In general, an Eligible Employee shall be deemed to be a Participant with respect to his Rollover Contribution only to the extent necessary as determined by the Benefits
Committee, prior to having become a Participant for all purposes in accordance with Section 3.1. In this regard, such Eligible Employee shall be permitted to make a loan under Article XII. The Benefits Committee or its delegate shall establish a
Rollover Contribution Account to record the amount of the Rollover Contribution. The Rollover Contribution Account shall be fully vested at all times. 
  
 4.14 Catch-up Contributions. An Active Participant who (i) has attained, or will during the Plan Year attain, age 50 years and (ii) whose Pre-Tax
Contributions for the Plan Year are expected either (a) to be less than the maximum contribution permitted by Code Section 402(g) due to the percentage limitation in Section 4.2 or (b) to equal the lesser of the (1) Section 4.2 percentage limitation
or (2) dollar limitation of Code Section 402(g) may elect, in accordance with procedures established by the Benefits Committee, to reduce his Compensation for each pay period for which his election is in effect, and to have the amounts by which his
Compensation is so reduced contributed on his behalf by his Employer as Catch-up Contributions under the Plan, as described in Code Section 414(v). The Catch-up Contributions made on behalf of an Active Participant shall be credited to his Catch-up
Contribution Account. 
  
 All elections with respect to Catch-up Contributions
shall be in such manner as provided by the Benefits Committee. Subject to the suspension described below and for withdrawals under 
  

 18 

 Section 8.4 and to the recharacterization provisions of Section 4.15, a contribution percentage election selected by an
eligible Participant shall continue in effect, notwithstanding any change in his Compensation, until the earlier of the date (1) his election to change his contribution percentage is effective, or (2) he ceases to be an Eligible Employee. In the
event a Participant’s Catch-up Contributions in any Plan Year equal the applicable limitation under Code section 414(v) during such Plan Year, Catch-up Contributions on behalf of such Participant shall be suspended for the remainder of such
Plan Year, but shall resume unchanged in the next following Plan Year. 
  
 4.15 Recharacterizations. 
  
 (a) Catch-up
Contributions. In the event a Participant’s Pre-Tax Contributions for a Plan Year do not equal the maximum Pre-Tax Contributions that may be made under the Plan that Plan Year for any reason, his Catch-up Contributions for such Plan Year
shall be recharacterized as Pre-Tax Contributions for all purposes to the extent necessary to increase his Pre-Tax Contributions to equal such maximum for such Plan Year. 
  
 (b) Excess Pre-Tax Contributions. In the event a Participant who is eligible to elect Catch-up Contributions is
determined by the Benefits Committee to have “Excess Elective Contributions” for a Plan Year, then before causing a distribution of such Participant’s “Excess Elective Contributions,” the Benefits Committee may cause such
Participant’s Pre-Tax Contributions to be recharacterized as Catch-up Contributions to the extent necessary to either (i) exhaust his “Excess Elective Contributions,” and/or (ii) increase his Catch-up Contributions to the applicable
limit under Code Section 414(v) for the Plan Year. 
  

 19 

 ARTICLE V. 
  
 EMPLOYER CONTRIBUTIONS AND ALLOCATIONS 
  
 5.1 Employer Matching Contributions. Subject to Section 5.8, each Employer shall contribute each pay period for Active Participants who are
Employees of such Employer an amount in cash equal to the aggregate of the Employee Contributions other than Catch-up Contributions and Rollover Contributions, as hereinafter limited, made to this Plan by or on behalf of each such Employee during
the applicable pay period; provided, however, Employer Matching Contributions shall be limited to 6% of the Participant’s Compensation for the applicable pay period. 
  
 Employer Matching Contributions determined under the preceding sentence shall be reduced by the amounts provided by Section 5.8(c) and by
Forfeitures, as determined in accordance with Section 5.7 hereof. In no event shall an Employer contribute an amount for any Plan Year which will be greater than the maximum amount deductible from income by the Employer under the provisions of the
Code for the Employer’s taxable year which ends with or within such Plan Year. 
  
 5.2 Employer Discretionary Contributions. Subject to Section 5.8, each Employer will contribute in cash such amounts, if any, the Board of Managers, in its sole discretion, may authorize and direct to be paid.

  
 5.3 Employer Salary Deferral Contributions. Subject to
Section 5.8, each Employer will contribute in cash such amounts, if any, the Board of Managers, in its sole discretion, may authorize and direct to be paid as a discretionary Employer Salary Deferral Contribution. Any such contribution shall be in
such amount as to provide an allocation to the Employer Salary Deferral Account of each “Eligible Participant” in the same dollar amount. For purposes of this Section 5.3, “Eligible Participant” means a Participant designated as
such by the Company pursuant to authority granted by the Board of Managers at the time a discretionary Employer Salary Deferral Contribution is authorized and directed. For any Plan Year, Eligible Participant means, as designated by the Company,
either (a) a Participant as of the last day of such Plan Year, (b) a Participant who (i) as of the first and last day of such Plan Year is not an officer of any Employer or Affiliate, (ii) was an Eligible Employee or on an Authorized Leave of
Absence with pay as of the first day of such Plan Year, and (iii) as of the last day of such Plan Year, is (A) an Eligible Employee in the active employ of an Employer, (B) an Eligible Employee on an Authorized Leave of Absence with pay, or (C) a
former Eligible Employee having incurred a Termination of Employment during such Plan Year on account of death, Disability or retirement after becoming eligible to begin to receive early retirement benefits under the Pension Plan in which he
participated. In all events, the group of Eligible Participants with respect to each discretionary Employer Salary Deferral Contribution shall meet the applicable nondiscrimination requirements of Code Section 401(a)(4) and the regulations
promulgated thereunder. 
  
 5.4 Deposit and Investment of
Employer Matching Contributions. All Employer Matching Contributions made to this Plan on behalf of Active Participants shall be delivered to the Trustee in the form of cash and allocated to the Employer Matching Contribution Accounts of the
Active Participants as soon as practicable. All cash contributions delivered to the Trustee shall be invested by the Trustee in the same manner as the Participant’s “matched” employee contributions. 
  

 20 

 5.5 Allocation of Employer Discretionary Contributions. As of the last day of each Plan Year, the
amount of the Employer Discretionary Contributions authorized for such year, if any, shall be allocated to those Participants entitled to the same. A Participant who retires, dies or terminates employment due to Disability during such Plan Year
shall share in such allocation on the basis of the Compensation he earns during such year prior to his retirement, Disability or death. All other Participants will share in the allocation only if they are in the active employ of the Employer or on
an Authorized Leave of Absence on the last day of the Plan Year. Such allocation of Employer Discretionary Contributions shall be made according to the ratio that each such eligible Participant’s Compensation, bears to the total Compensation,
paid to all eligible Participants during the Plan Year. 
  
 5.6
Determination and Amount of Employer Contributions. The Board of Managers shall determine the amount of any contribution to be made by each Employer hereunder. Such determination shall be binding on all Participants, the Trustee and the
Employer. Under no circumstances shall any Participant or Beneficiary have any right to examine the books and records of any Employer. 
  
 5.7 Application of Forfeitures. All Forfeitures that are not applied in accordance with Sections 7.8, 8.3(d), or 8.11 or used to pay expenses of
this Plan at the direction of the Benefits Committee shall be applied to reduce Employer Contributions otherwise required or authorized under the Plan. 
  
 5.8 Maximum Contributions. 
  
 (a) In addition to any other limitation set forth in the Plan and notwithstanding any other provision of the Plan, in no event will the annual additions
allocated to a Participant’s Account under the Plan, together with the aggregate annual additions allocated to the Participant’s accounts under all other defined contribution plans required to be aggregated with the Plan under the
provisions of Section 415 of the Code, exceed the maximum amount permitted under Section 415 of the Code, the provisions of which are incorporated herein by reference. 
  
 (b) If the limitations imposed by this Section 5.8 apply to a Participant who is entitled to annual additions or benefits
under one or more tax-qualified plans with which the Plan is aggregated for purposes of Section 415 of the Code, the annual additions and benefits under such other plan or plans will be reduced first to the extent necessary, to prevent the
Participant’s benefits and/or annual additions from exceeding the limitations imposed by this Section. 
  
 (c) Application of Limitations. If the Annual Additions for a Participant for any Plan Year exceed the limitation in Subsection (a) above, such
excess (the “Annual Excess”) shall not be allocated to such Participant’s accounts but shall be treated in the following manner: 
  
 (1) After-Tax Contributions allocable to such Participant which have not been matched by Employer Matching Contributions and any earnings attributable
thereto shall be reduced to the extent necessary to reduce the Annual Excess to zero; 
  

 21 

 (2) If an Annual Excess remains, Pre-Tax Contributions allocable to such Participant which have not been
matched by Employer Matching Contributions and any earnings attributable thereto shall be reduced to the extent necessary to reduce the Annual Excess to zero; 
  

(3) If an Annual Excess remains, matched After-Tax Contributions and Employer Matching Contributions allocable to such Participant, together with any
earnings attributable thereto, shall be reduced in equal amounts to the extent necessary to reduce the Annual Excess to zero; provided, however, a Participant may elect, with the consent of the Benefits Committee, to have the reduction hereunder
apply first to Employer Matching Contributions and then to After-Tax Contributions; 
  
 (4) If an Annual Excess remains, Pre-Tax Contributions and Employer Matching Contributions allocable to such Participant, together with any earnings attributable thereto, shall be reduced in equal amounts to the
extent necessary to reduce the Annual Excess to zero; provided, however, a Participant may elect, with the consent of the Benefits Committee, to have the reduction hereunder apply first to Employer Matching Contributions and then to Pre-Tax
Contributions; 
  
 (5) If Annual Excess remains, Employer
Non-matching Contributions allocable to such Participant shall be reduced or suspended to the extent necessary to reduce the Annual Excess to zero; 
  
 (6) If Annual Excess remains, Employer Salary Deferral Contributions and any earnings attributable hereto shall be reduced or suspended to the extent
necessary to reduce the Annual Excess to zero; 
  
 (7) Any
reduction in a Participant’s allocations of After-Tax Contributions and any earnings attributable thereto under Sections 5.8(c)(1) and (3) shall be either refunded to the Participant or suspended, as determined by the Benefits Committee in its
discretion, and if suspended, utilized to reduce future After-Tax Contributions on behalf of such Participant for succeeding Plan Years; 
  
 (8) Any reduction in a Participant’s allocations of Pre-Tax Contributions and any earnings attributable thereto under Sections 5.8(c)(2) and (4)
shall be suspended and utilized to reduce future Pre-Tax Contributions on behalf of such Participant for succeeding Plan Years; 
  
 (9) Any reduction in a Participant’s allocations of Employer Matching Contributions, Employer Non-Matching Contributions and any earnings
attributable thereto under Sections 5.8(c)(3), (4), and (5) and in the Participant’s Employer Salary Deferral Contributions and any earnings attributable thereto under Section 5.8(c)(6) shall be separately suspended and utilized to reduce
future Employer Matching Contributions, Employer Non-Matching Contributions and Employer Salary Deferral Contributions, respectively, on behalf of the Participant for succeeding Plan Years; 
  
 (10) In the event any amount attributable to Employer Contributions
suspended under Section 5.8(c)(9) remains unallocated to such Participant’s Employer 
  

 22 

 Contribution Account during a Plan Year following the Plan Year in which such Participant ceases to be a Participant,
such amount shall be applied to reduce Employer Contributions and Employer Salary Deferral Contributions, respectively, for all Participants for such Plan Year and succeeding Plan Years, as necessary to reduce such amount to zero; 
  
 (11) Any suspended amounts attributable to Employee Contributions remaining
as of such Participant’s Termination of Employment shall be returned to such Participant; and 
  
 (12) Any suspended amounts attributable to Employer Contributions remaining upon Plan termination shall be returned to the Employers and any suspended
amounts attributable to Employee Contributions remaining upon Plan termination shall be returned to such Participant. 
  

 23 

 ARTICLE VI. 
  
 INVESTMENT PROVISIONS 
  
 6.1 Investment of Future Employee Contributions. 
  
 (a) Amount of Investment Election. An Active Participant may direct the Trustee, by submission of proper instructions, voice or otherwise, in such
form as the Trustee, in its discretion, may require from time to time, to invest his future Employee Contributions in one or more of the Plan’s Investment Funds. All such Employee Contributions and loan payments will be invested in the default
fund provided in Appendix I unless the Active Participant designates the Investment Funds in which such contributions and loan payments are to be invested. If an Active Participant elects to invest his Employee Contributions in more than one
Investment Fund, he must designate the percentage in whole multiples of 1%. 
  
 (b) Effective Date of Investment Election. An investment election hereunder (or a change of such election) with respect to future Employee Contributions and loan payments shall be effective as soon as
administratively practicable after a Participant provides the proper instructions, voice or otherwise, required by the Trustee, in its discretion, provided such instructions are received by the Trustee no later than the date on which the Trustee
receives the Employee Contributions or loan payments to be invested. 
  
 (c) Change of Investment Election. The investment election of a Participant shall continue in effect, notwithstanding any change in his Compensation, his contribution percentage or his status as an Active Participant, until the date
a change of his investment election is effective. 
  
 6.2
Investment of Employee Contribution Account and Employer Contribution Account. 
  
 (a) Investment Transfers. 
  
 (1) Amount of Conversion Election. A Participant may direct the Trustee, by providing the Trustee with the proper instructions, voice or otherwise, required by the Trustee in its discretion, with respect to the investment of that
portion of his Employee Contribution Account and Employer Contribution Account which is invested in one or more of the Investment Funds into one or more of the Plan’s other Investment Funds. If a Participant elects to invest such portion of his
Employee Contribution Account and his Employer Contribution Account in more than one Investment Fund, he must designate in his proper instructions, voice or otherwise, either (i) the percentage in whole multiples of 1%, or (ii) the dollar amount in
whole multiples of one dollar. 
  
 (2) Effective Date of
Conversion Election. A conversion election transaction shall be effective as soon as practicable following the date on which a Participant provides the proper instructions, voice or otherwise, required by the Trustee, in its discretion.

  

 24 

 ARTICLE VII. 
  
 TRUST AGREEMENT AND TRUSTEE 
  
 7.1 Funding Instrument. The Company, at the direction of the Benefits Committee, may enter into one or more Trust Agreements to provide for the
holding, investment and payment of Plan assets, or direct by execution of an Insurance Contract, that all or a specified portion of the Plan’s assets be held, invested and paid under such contract. The Trust Agreement, as from time to time
amended, shall continue in force and shall be deemed to form a part of the Plan, and any and all rights or benefits which may accrue to any person under this Plan shall be subject to all the terms and provisions of the Trust Agreement. 

 
 7.2 Selection of Trustee. The Benefits Committee shall select,
remove or replace a Trustee in accordance with the Trust Agreement. The subsequent resignation or removal of a Trustee and the appointment of a successor Trustee and the approval of its accounts shall all be accomplished in the manner provided in
the Trust Agreement. 
  
 7.3 Trustee’s Duties. The
powers, duties and responsibilities of a Trustee shall be as stated in the Trust Agreement. All contributions shall be paid into the Trust, and all benefits payable under this Plan shall be paid from the Trust. 
  
 7.4 Trust Expenses. Expenses of administering this Plan, including the
fees and expenses of the Trustee, the Benefits Committee, and the Investment Managers, shall be paid from the Trust under the Plan in accordance with directions from the Benefits Committee unless such expenses are paid by an Employer. Brokerage
fees, transfer taxes and other expenses incident to the purchase or sale of securities by the Trustee shall be deemed to be part of the cost of such securities, or deducted in computing the proceeds therefrom, as the case may be. Taxes, if any, on
any assets held or income received by the Trustee shall be charged appropriately against the accounts of Participants as the Benefits Committee shall determine. Expenses related to a determination whether a domestic relations order meets the
definition of a Qualified Domestic Relations Order may be charged appropriately against the Accounts of the Participant for whom the Qualified Domestic Relations Order is intended. Such expenses may be allocated to the Participant’s Accounts
prior to division of the Accounts pursuant to the Order. 
  
 7.5
Trust Entity. The Trust under this Plan from its inception shall be a separate entity aside and apart from Employers or their assets. The Trust, and the corpus and income thereof, shall in no event and in no manner whatsoever be subject to
the rights or claims of any creditor except with respect to the provisions of Section 7.13. 
  
 7.6 Accrued Benefit. An Employer Contribution Account, an Employee Contribution Account and such other accounts as are necessary under the Plan shall be established and maintained, as appropriate, for each
Participant to record the value of his interest in the Trust Fund in accordance with Section 7.7. Adjustments to a Participant’s Accrued Benefit provided for by this Plan may be made, at the discretion of the Benefits Committee, on the relevant
Valuation Date regardless of the date of actual entry or receipt by the Trustee of Employer Contributions or Employee Contributions or the actual date of payment of benefits under this Plan. 
  

 25 

 7.7 Trust Income. As of each Valuation Date the net income and gains or losses of each Investment
Fund shall be credited or charged to each Participant’s Employee Contribution Account and Employer Contribution Account and to any other account maintained in such Investment Fund by the Trustee in accordance with the “unit,”
“share,” or “cash” method of accounting consistently followed and uniformly applied. 
  
 7.8 Correction of Error. In the event of an error in the adjustment of a Participant’s Accrued Benefit, the Benefits Committee, in its sole
discretion, may correct such error by crediting or charging the adjustment required to make such correction to or against Forfeitures which occur in the Plan Year in which the correction is made. 
  
 7.9 Investment Options. The Trust Fund shall consist of the Investment
Funds set forth on Appendix I, as amended from time to time. 
  
 7.10 Right of Employers to Trust Assets. Subject to the provisions of Section 5.7, the Employers shall have no right or claim of any nature in or to the Trust Fund, except the right to require the Trustee to hold, use, apply, and pay
such assets in its possession in accordance with this Plan for the exclusive benefit of the Participants or their Beneficiaries and for defraying the reasonable expenses of administering this Plan and Trust; provided, that: 
  
 (a) if, and to the extent that, a deduction for an Employer Contribution
under Code Section 404 is disallowed, Employer Contributions conditioned upon deductibility shall be returned to the appropriate Employer within one year after the disallowance of the deduction; and 
  
 (b) if, and to the extent that, an Employer Contribution is made through
mistake of fact, such Employer Contribution shall be returned to the appropriate Employer within one year of the payment of the contribution. 
  
 (c) All Employer Contributions made hereunder are conditioned upon a deduction being allowed for such contributions under Code Section 404. The return of
a Contribution to an Employer under Subsections (b) or (c) above must comply with each of the following requirements: 
  
 (1) The amount of such Employer Contribution which may be so returned shall not be greater than the excess of (i) the amount contributed over (ii) the
amount that would have been contributed had there been no mistake in determining the deduction or had there been no mistake of fact, as the case may be; 
  
 (2) The amount of such Employer Contribution which may be so returned shall not be increased by earnings attributable to the investment or reinvestment
of such Employer Contribution in the Trust, but shall be reduced by losses attributable to the investment or reinvestment of such Employer Contribution in the Trust; and 
  
 (3) The return of such Employer Contribution shall not reduce the balance of the Employer Contribution Account of any
Participant to less than the balance which would have been credited to such Employer Contribution Account, if the returned Employer Contribution had never been contributed. 
  

 26 

 7.11 Establishment and Deletion of Investment Funds. The Benefits Committee, in its discretion,
may from time to time direct the Trustee to delete an Investment Fund, “freeze” an Investment Fund or establish a new Investment Fund in the Plan. 
  
 7.12 Self-directed Brokerage Fund. Each Participant shall be permitted to establish a self-directed account by completing the necessary forms
provided by a brokerage firm selected by the Benefits Committee. After establishing his self-directed account, a Participant shall be permitted to transfer all or part of his Employee Contribution Account and his Employer Contribution Account to and
from his self-directed account by providing the proper instructions, voice or otherwise, required by the Trustee, in its discretion. A Participant shall be permitted to transfer funds to and from his self-directed account on a daily basis by
providing proper instructions, voice or otherwise, to the Trustee provided all such transfers are limited to the current cash balances in the Participant’s Accounts. 
  
 All funds in the
self-directed account will be valued daily and each Participant maintaining a self-directed account shall be charged a quarterly fee established by the Benefits Committee which is no more than the quarterly fee charged by the Trustee for each
self-directed account. In addition, each Participant who purchases investments in his self-directed account shall be responsible for all brokerage commissions and other expenses associated with his investments. 
  
 No Participant shall be able to withdraw or borrow any monies under Section 8.4 and Section
12.2 of the Plan directly from a self-directed brokerage account. To receive a withdrawal of monies held in a self-directed brokerage account, the Participant must first transfer such monies to the money market fund or its equivalent under Trust.

  
 The investments permitted under this Section 7.12 shall include: (a) stocks,
common or preferred, which are traded over the New York, American or NASDAQ exchanges; (b) open-end or closed-end mutual funds managed by an investment company registered under the Investment Company Act of 1940; and (c) bonds, debentures, and any
other fixed-income securities, including, but not limited to, certificates of deposit and collateralized mortgage obligations. Notwithstanding the foregoing, the following investments are specifically prohibited: (a) options of any nature, whether
or not covered; (b) limited partnerships, general partnerships and master limited partnerships (including Magellan Midstream Partners L.P. units); (c) real estate investment trusts; (d) real estate; (e) art; (f) stamps and coins; (g) any investment
which may produce unrelated business income to the Trust; (h) precious metals; (i) tax exempt securities (including mutual funds, municipal bonds and unit investment trusts); (j) currencies; (k) currency options; (l) currency warrants; (m) interest
rate options; (n) financial futures; (o) convertible adjustable preferred stock; (p) any securities or securities options issued by the Company or an Affiliate; (q) mutual funds that the Trustee does not have dealer agreements with; (r) any
investment vehicle not readily tradable; and (s) any other investment which is prohibited, from time to time, by the Benefits Committee. 
  

 27 

 ARTICLE VIII. 
  
 BENEFITS 
  
 8.1 Payment of Accrued Benefit on or after Normal Retirement Date or Total and Permanent Disability. 
  
 (a) Retirement. The following provisions only shall apply to a
Participant whose Termination of Employment occurs on or after the earlier of age 65 or the date he becomes eligible to begin to receive early retirement benefits under a Pension Plan in which he participates, and whose Termination of Employment
does not occur by reason of death or Disability. Under such circumstances, the Participant’s Accrued Benefit shall be fully 100% vested, and the Trustee shall distribute to the Participant his Accrued Benefit in the form of a lump sum payment.
Subject to the limitations set forth in this paragraph and the additional limitations set forth in Section 8.8, such distribution shall be made as soon as practicable after such Termination of Employment. Such distribution shall not in any event be
made prior to the Participant’s Termination of Employment and such distribution shall not be made without the Participant’s consent, if the Participant’s vested Accrued Benefit exceeds $5,000 and the Participant has not attained the
age of 70 1/2 as of the date of the distribution. Such consent may be given at any time after such Termination of
Employment. A Participant who fails to consent to a distribution under this Section 8.1(a) within 120 days of his Termination of Employment shall be required to pay both the applicable fees under Section 7.13 and an annual fee as determined by the
Benefits Committee toward his share of administrative, trustee, recordkeeping and other fees associated with maintenance of his Accrued Benefit in the Plan. A Participant who is eligible to receive a distribution under this Subsection 8.1(a) may, at
any time prior to receiving such distribution, request a withdrawal of benefits pursuant to Subsection 8.4(c). If a Participant fails to timely elect a distribution of his Accrued Benefit, his Accrued Benefit will be distributed in the form of a
lump sum payment, no later than April 1 of the year following the year in which such Participant attains the age of 70 1/2. 
  
 (b) Disability. Upon
the Termination of Employment of a Participant by reason of Disability, the Participant’s Accrued Benefit shall become fully 100% vested, and the Trustee shall distribute to the Participant his Accrued Benefit in the form of a lump sum payment.
Subject to the limitations set forth in this paragraph and the additional limitations set forth in Section 8.8 hereof, such distribution shall be made or begin as soon as administratively practical after such Termination of Employment. Such
distribution shall not in any event be made prior to the Participant’s Termination of Employment and such distribution shall not be made without the Participant’s consent, if the Participant’s Accrued Benefit exceeds $5,000 and the
Participant has not attained age 70 1/2 as of the date of the distribution. Such consent may be given at any time
after such Termination of Employment. A Participant who fails to consent to a distribution under this Section 8.1(b) within 120 days of his Termination of Employment shall be required to pay both the applicable fees under Section 7.13 and an annual
fee as determined by the Benefits Committee toward his share of administrative, trustee, recordkeeping and other fees associated with maintenance of his Accrued Benefit in the Plan. 
  
 8.2 Payment of Accrued Benefit on Death. The provisions of this
Section 8.2 shall apply if a Participant dies: 
  
 (a) If the
Termination of Employment of a Participant is caused by death, the Participant’s Accrued Benefit shall become fully 100% vested. 
  

 28 

 (b) If the Participant is married, the Participant’s Beneficiary must be the Participant’s
spouse at his death, unless such spouse, on a form provided by the Benefits Committee, consents to the Participant naming another Beneficiary or Beneficiaries, and such spouse’s consent acknowledges the effect of such consent and is witnessed by a Plan representative or notary public. In the event that the Participant’s
spouse has consented on a form as herein provided, the Participant may change such designation of Beneficiary from time to time only after again obtaining spousal consent and filing a new Beneficiary designation form with the Benefits Committee. If
the Participant is not married, the Participant may change his designation of Beneficiary from time to time by filing a new Beneficiary designation form with the Benefits Committee. In all events, no designation of Beneficiary or change of
Beneficiary shall be effective until filed with the Benefits Committee. 
  
 (c) Upon the entry of a decree of divorce respecting a married Participant and his or her spouse, any designation of such spouse as Beneficiary of such Participant shall be revoked automatically and become ineffective on and after the date
the decree is entered, unless otherwise provided in a Qualified Domestic Relations Order. The automatic revocation of such Beneficiary designation shall cause the Participant’s Accrued Benefit to be distributed under the provisions of the Plan
as if such spouse had predeceased the Participant. However, a Participant may designate a former spouse as a Beneficiary under the Plan, provided a properly completed Beneficiary designation form is filed with the Benefits Committee subsequent to
entry of a decree of divorce respecting the Participant and such former spouse. 
  
 (d) Subject to the provisions of Subsection (c), above, if a Participant shall fail to file a valid Beneficiary designation form, or if all designated Beneficiaries shall have predeceased the Participant, the Benefits
Committee shall direct the Trustee to distribute such Participant’s Accrued Benefit to his estate, unless the Participant is survived by a spouse, in which event such distribution shall be made to the surviving spouse. 
  
 (e) Any payment under this Section 8.2 shall be made or begin as soon as
practicable after the death of the Participant and shall be paid in a lump sum. In all events payment of a Participant’s entire Accrued Benefit to a Beneficiary shall be completed within five years of the date of death of the Participant and
shall be paid in a lump sum. In this regard, the Participant’s designated beneficiaries may elect to defer payment of a lump sum payment to a valuation date within five years of a Participant’s death. 
  

 29 

 8.3 Payment of Accrued Benefits Upon Termination of Employment; Vesting. 
  
 (a) Vested Percentage. The nonforfeitable portion of the Accrued
Benefit of a Participant is the sum of (i) all of the Participant’s Accounts, other than his Employer Matching Contributions Account and Employer Discretionary Contribution Account, plus (ii) a percentage of the Participant’s Employer
Matching Contribution Account and Employer Discretionary Contribution Account determined in accordance with the following vesting schedule: 
  

				
	 Years of Service

	  	Nonforfeitable Percentage

	 
	 Less than 1
	  	0	%
	 At least 1 but less than 2
	  	20	%
	 At least 2 but less than 3
	  	40	%
	 At least 3 but less than 4
	  	60	%
	 At least 4 but less than 5
	  	80	%
	 5 or more
	  	100	%

  
 Notwithstanding the
foregoing vesting schedule, if (i) a Participant’s Termination of Employment occurs because of a formal reduction-in-force or job elimination designated as such in an authorized writing or if a Participant is laid off without being granted by
an Employer a conditional right to be reemployed, or (ii) the Participant’s employment was transferred from Williams to the Company effective January 1, 2004, such Participant shall become 100% vested immediately in this Plan. 
  
 (b) At any relevant time, a Participant’s vested interest in his
Employer Matching Contribution Account and Employer Discretionary Contribution Account shall not be less than “X,” where 
  
 “X” equals P(AB + D) - D; and 
  
 “P” equals the vested percentage at the relevant time; 
  

“AB” equals the balance of the Employer Matching Contribution Account and Employer Discretionary Contribution Account at the relevant time;
and 
  
 “D” equals the amount of any withdrawal or
distribution. 
  
 (c) Special Distributions Provisions. The
following provisions other than Subsection (i) only shall apply if a Participant incurs a Termination of Employment on account of an event other than death, Disability, or retirement on or after attaining age 65 or after the date he becomes eligible
to begin to receive early retirement benefits under a Pension Plan in which he participates: 
  
 (i) Cash-out. If on or at any time after a Termination of Employment the vested Accrued Benefit of such Participant is $5,000 or less, determined at the time of distribution, (or, if his vested Accrued Benefit
is a greater amount and the Participant consents to an immediate distribution of his Accrued Benefit), the Trustee shall distribute in a lump sum to the Participant an amount equal to the vested portion of his Accrued Benefit. Such distribution
shall be made no sooner than 120 days following such Termination of Employment or, where applicable, the date of receipt of the Participant’s timely consent to such distribution. The nonvested balance of the accounts of such Participant who
receives a distribution of his Accrued Benefit pursuant to this Subsection (c)(i) shall be treated as a Forfeiture as of the date of such distribution. For purposes of this section, in determining whether a Participant’s vested Accrued Benefit
is $5,000 or less, the value of the Participant’s nonforfeitable Account balance shall be determined without regard to that portion of the Account balance that is attributable to rollover contributions (and earnings allocable thereto) within
the meaning of sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code. 
  

 30 

 (ii) Deferred Distribution. If the vested Accrued Benefit of such Participant is more than
$5,000, the distribution of the vested portion of the Accrued Benefit of such Participant shall be deferred until the Participant attains age 701⁄2 or dies, unless the Participant consents to an earlier distribution of the vested portion of his
Accrued Benefit in the manner required by the Benefits Committee, in its discretion. The vested portion of the Participants Accrued Benefit shall be distributed by the Trustee in the form of a lump sum payment. The non-vested balance of the Accounts
of a Participant whose vested Accrued Benefit exceeds $5,000 and whose consent to a distribution of his Accrued Benefit under this Subsection (c)(ii) has not been obtained shall be treated as a Forfeiture after such Participant incurs five
consecutive One Year Breaks-in-Service. A Participant who fails to consent to a distribution under Section 8.3(c)(i) within 120 days of Termination of Employment shall be required to pay both the applicable fees under Section 7.15 and an annual fee
as determined by the Trustee toward his share of administrative, trustee, recordkeeping and other fees associated with the maintenance of his Accrued Benefit in the Plan. 
  
 (d) Re-employment. If an Employer re-employs a former Participant who received a distribution of his Accrued Benefit
in connection with a Termination of Employment at a time when the balance of his Accounts were not fully vested, such former Participant shall have the right on or before the earlier of (i) the close of the first period of five consecutive One Year
Break-in-Service commencing after the date of such distribution, or (ii) the fifth anniversary of such reemployment, to repay in cash to the Trustee an amount equal to the entire amount of the distribution the former Participant earlier received.
Upon receipt of such amount by the Trustee, that portion of the former Participant’s Accrued Benefit which had
been forfeited because of such earlier distribution shall be restored. Such restored Accrued Benefit plus the amount repaid to the Plan by the former Participant shall be equal to the Accrued Benefit of the former Participant on the Valuation Date
immediately preceding the date on which the former Participant received the original distribution. The restoration of a re-employed Participant’s Accrued Benefit shall be made as of the Valuation Date coincident with or next following the date
on which the former Participant repays the entire amount of the earlier distribution. Any portion of the re-employed Participant’s Accrued Benefit that earlier had been treated as a Forfeiture shall be restored by allocating an amount to the
Employer Contribution Account (or other account) of the re-employed Participant from the Forfeitures of other Participants for the Plan Year in which such restoration is to be made. To the extent the Forfeitures of other Participants are
insufficient to make all or a portion of the required restoration, the Employer shall contribute to the Plan, without regard to the other provisions of this Plan, an amount equal to such deficiency. 
  
 (e) Accounting for and Investment of Repayments. The amount of a
reemployed Employee’s Accrued Benefit that such former Participant repays to this Plan pursuant to Subsection (d) above shall be credited (i) if such amount was taxable upon distribution to the Participant’s After-Tax Contribution Account,
and/or (ii) if such amount was non-taxable upon distribution to the Participant’s Rollover Contribution Account and shall be invested in accordance with Section 6.2 of this Plan. The amount of such former Participant’s Accrued Benefit that
originally had been forfeited and is thereafter restored shall be recredited to the Participant’s Employer Contribution Account. 
  

 31 

 8.4 Withdrawal of Benefits. Subject to Section 7.13, a Participant may request withdrawals, as
follows: 
  
 (a) Partial In-Service Withdrawal. Each
Participant who is an Employee may withdraw, in a manner prescribed by the Benefits Committee, an amount which does not exceed the balance, if any, in his Rollover Contribution Account. A withdrawal request may be made at any time by providing the
Trustee with the proper instructions, voice or otherwise, required by the Trustee, in its discretion, and designating therein whether such distribution is to be made in cash. The effective date of the request will be as soon as administratively
practicable after the Trustee receives such request. A Participant may only make two withdrawals in any Plan Year under this Section 8.4(a). The Benefits Committee shall direct the Trustee to make payment of any withdrawal requested under this
Subsection 8.4(a) that is not contrary to the provisions of the Plan, and the Trustee shall make such payment, as soon as administratively practicable after the Participant’s request. A Participant shall be charged a minimal check fee, as
determined by the Trustee, for a Partial In-Service Withdrawal. 
  
 (b) Additional In-Service Withdrawal. A Participant who has completed at least two Years of Service and who is an Employee may request to withdraw, in a manner prescribed by the Benefits Committee, an amount which does not exceed:

  
 (i) the nonforfeitable portion of his Employer Contribution
Account, 
  
 (ii) his After-Tax Account, and 
  
 (iii) if he is at least age 59 1/2, his Pre-Tax Account and Catch-up Contribution Account. 
  
 If a Participant has a loan from the Plan outstanding, the amount available for withdrawal shall be reduced by the amount of the outstanding balance of such loan.

  
 The minimum amount of any withdrawal under this Subsection 8.4(b) shall be
$500. A withdrawal request may be made at any time by providing the Trustee with the proper instructions, voice or otherwise, required by the Trustee, in its discretion, and designating therein whether such distribution is to be made in cash. The
effective date of the request will be as soon as administratively practicable after the Trustee receives such request. A Participant who makes a withdrawal pursuant to this Subsection 8.4(b) will not be permitted to make Employee Contributions to
the Plan for a period of six months following the month in which his withdrawal request becomes effective. In addition, a Participant who receives a withdrawal under this Subsection 8.4(b) shall not be entitled to another withdrawal under this
Subsection 8.4(b) until 12 months after the prior withdrawal. The Benefits Committee shall direct the Trustee to make payment of any withdrawal requested under this Subsection 8.4(b) that is not contrary to the provisions of the Plan, and the
Trustee shall make such payment, as soon as practicable after the Participant’s request, of the Participant’s nonforfeitable interest from such Participant’s accounts, if applicable, in the following order: namely, the After-Tax
Account, the Pre-Tax Account (if the Participant is at least 59 1/2), the Catch-up Contribution Account (if the
Participant is at least 59 1/2), the Employer Matching Contribution Account and the Employer Discretionary
Contribution Account. A Participant shall be charged a minimal check fee, as determined by the Trustee, for an Additional In-Service Withdrawal. 
  

 32 

 (c) Post-Retirement Withdrawal. A Participant who is eligible to receive a distribution under
Subsection 8.1(a) may withdraw, prior to receiving such a distribution in a manner prescribed by the Benefits Committee, an amount which does not exceed his vested Accrued Benefit. The minimum amount of any withdrawal under this Subsection 8.4(c)
shall be $500. A withdrawal request may be made at any time prior to receiving a distribution pursuant to Subsection 8.1(a) by providing the Trustee with the proper instructions, voice or otherwise, required by the Trustee, in its discretion, and
designating therein whether such distribution is to be made in cash. The effective date of the request will be as soon as administratively practicable after the Trustee receives such request. The Benefits Committee shall direct the Trustee to make
payment of any withdrawal requested under this Subsection 8.4(c) that is not contrary to the provisions of the Plan, and the Trustee shall make such payment, as soon as practicable after the Participant’s request of the Participant’s
interest from such Participant’s Accounts if applicable in the following order: namely, the Rollover Contribution Account, the After-Tax Account, the Pre-Tax Account, the Catch-up Contribution Account, the Employer Matching Contribution
Account, Employer Salary Deferral Account, and the Employer Discretionary Contribution Account. A Participant shall be charged a minimal check fee, as determined by the Trustee, for a Post-Retirement Withdrawal. 
  
 (d) Hardship Withdrawals. Subject to the terms and conditions of this
Subsection (d), a Participant who is an Employee may request, on account of a hardship, to make a cash withdrawal from his Pre-Tax Account and Catch-up Account; however, any earnings on amounts held in the Pre-Tax Account and any amounts invested in
a self-directed brokerage account may not be withdrawn. Such request may be made at any time by providing the Trustee with the proper instructions, voice or otherwise, required by the Trustee, in its discretion, and by filing a request therefor with
the Trustee on a form provided for that purpose. If approved by the Trustee as authorized by the Benefits Committee, the effective date of the request will be as soon as administratively feasible after such approval. Withdrawals from a
Participant’s Pre-Tax Account and Catch-up Account shall be permitted only under the following conditions: (i) the Participant suffers a Disability; or (ii) the Participant has withdrawn all other amounts available for withdrawal by such
Participant under this Plan and any other plan maintained by an Employer or an Affiliate, including all nontaxable loans currently available under all plans maintained by the Employer or an Affiliate, and the Participant has suffered a financial
hardship. The amount withdrawable in the event of financial hardship shall be limited to the amount required to meet such hardship in light of immediate and heavy financial needs of the Participant. The events that will constitute financial hardship
are: (i) purchase of a principal dwelling for a Participant, in which case the amount of financial hardship will be deemed to be a down payment and closing costs; (ii) education at a higher level than a secondary school for the Participant and his
children and spouse, in which case the financial hardship will be deemed to be tuition, fees, books, and necessary room and board for the next year; (iii) expenses for illness of the Participant, his children and spouse, his parents, and his
spouse’s parents, in which case the amount of the financial hardship will be the amount of such expenses not covered by insurance; (iv) imminent eviction of the Participant from, or imminent foreclosure of the mortgage on, the principal
residence of the Participant, in which case the financial hardship will be the amount necessary to prevent such eviction or foreclosure; and (v) any other event that constitutes a “safe 
  

 33 

 harbor” event as provided by the IRS or regulations. The amount of financial hardship may be grossed up to include,
if elected by the Participant, an amount up to the 20% withholding tax on withdrawals and, if applicable, the 10% penalty tax on premature distributions. 
  
 The Participant shall be required to submit satisfactory evidence to the Trustee of such hardship and to certify that a financial hardship exists. The Benefits Committee
may reasonably rely on the certification of the Participant. 
  
 A Participant who
makes a withdrawal pursuant to this Subsection (d) will not be eligible to make Employee Contributions to the Plan for a period of six months following the receipt of such withdrawal. Such Participant shall be required to reenroll in the Plan in
order to again begin making employee Contributions to the Plan after the six-month period. 
  
 8.5 Deduction of Taxes from Amounts Payable. The Trustee may deduct from the amount to be distributed such amount as the Trustee, in its sole discretion, deems proper to protect the Trustee and the Trust
against liability for the payment of death, succession, inheritance, income, or other taxes, and out of the money so deducted, the Trustee may discharge any such liability and pay the amount remaining to the Participant, the Beneficiary or the
deceased Participant’s estate, as the case may be. 
  
 8.6
Special Provisions Regarding Payment of Benefits. Distributions under Sections 8.1, 8.2 and 8.3 of this Plan shall be made in accordance with each of the following conditions: 
  
 (a) Subject to the ability of a Participant to defer distributions under Section 8.1, the distributions of the Accrued
Benefit of a Participant shall be made not later than 60 days after the latest of the close of the Plan Year in which (1) the Participant attains age 65, (2) occurs the 10th anniversary of the Plan Year in which the Participant commenced
participation, or (3) the Participant had a Termination of Employment. 
  
 (b) Except as provided below in this Subsection (b) and Section 8.6A, the distribution of the Accrued Benefit of a Participant who is not a 5-percent owner shall commence not later than April 1 of the calendar year immediately following the
calendar year in which the later of the following events occurs: (i) the Participant attains age 70 1/2; or (ii)
the Participant incurs a Termination of Employment. The distribution of the Accrued Benefit of a Participant who is a 5-percent owner shall commence not later than April 1 of the calendar year immediately following the calendar year in which such
Participant attains age 70 1/2. A Participant shall be considered to be a 5-percent owner for purposes of this
Subsection (b) if such Participant is a 5-percent owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such Participant attains age 70 1/2. Once distributions have begun to a Participant who is considered to be a 5-percent owner pursuant to this Subsection (b), distributions must continue
even if such Participant ceases to be a 5-percent owner in a subsequent year. 
  
 (c) If the distribution of a Participant’s Accrued Benefit shall commence prior to his death, and if the Participant dies before the distribution of
his Accrued Benefit has been completed, the remaining portion of his Accrued Benefit shall be distributed at least as rapidly as under the method of distribution in effect at the time of his death. 
  

 34 

 (d) In all events, all distributions of a Participant’s Accrued Benefit shall be made in accordance
with the requirements of Code Section 401(a)(9) and applicable regulations promulgated thereunder. 
  
 8.7 Minimum Distribution Requirements — IRS Model Amendment. 
  
 (a) The provisions of this Section 8.7 will apply for purposes of determining required minimum distributions for calendar
years beginning with the 2003 Distribution Calendar Year. 
  
 (b)
The requirements of this Section 8.7 will take precedence over any inconsistent provisions of the Plan. 
  
 (c) All distributions required under this Section 8.7 will be determined and made in accordance with the Treasury regulations under section 401(a)(9) of
the Code. 
  
 (d) Notwithstanding the other provisions of this
Section 8.7, distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to section 242(b)(2) of
TEFRA. 
  
 (e) The Participant’s entire interest will be
distributed, or begin to be distributed, to the Participant no later than the Participant’s Required Beginning Date. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be
distributed, no later than as follows: 
  
 (1) If the
Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant
died, or by December 31 of the calendar year in which the Participant would have attained age 70 1/2, if later.

  
 (2) If the Participant’s surviving spouse is not
the Participant’s sole Designated Beneficiary, then distributions to the Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 
  
 (3) If there is no Designated Beneficiary as of September 30 of the year
following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
  
 (4) If the Participant’s surviving spouse is the Participant’s
sole Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Paragraph (disregarding item (1) above), will apply as if the surviving spouse were the Participant.

  
 (f) For purposes of this Paragraph (e) and Paragraph (g)
below, unless item (4) above applies, distributions are considered to begin on the Participant’s Required Beginning Date. If item (4) above applies, distributions are considered to begin on the date distributions are required to begin to the
surviving spouse under item (1) above. 
  

 35 

 (g) If the Participant dies before distributions begin and there is a Designated Beneficiary,
distribution to the Designated Beneficiary is not required to begin by the date specified in Paragraph (e) above but the Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of the calendar year
containing the fifth anniversary of the Participant’s death. If the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to either
the Participant or the surviving spouse begin, this Paragraph will apply as if the surviving spouse were the Participant. 
  
 (h) For purposes of this Section 8.7, the following terms and phrases shall have these respective meanings: 
  
 (1) Designated Beneficiary: The individual who is designated as a
Participant’s beneficiary under Section 9.2 of the Plan and is a Designated Beneficiary under section 401(a)(9) of the Code and section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations. 
  
 (2) Distribution Calendar Year: A calendar year for which a minimum
distribution is required. For distributions beginning before the Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant’s Required Beginning
Date. For distributions beginning after the Participant’s death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin under Paragraph (e). The required minimum distribution for the
Participant’s first Distribution Calendar Year will be made on or before the Participant’s Required Beginning Date. The required minimum distribution for other Distribution Calendar Years, including the required minimum distribution for
the Distribution Calendar Year in which the Participant’s Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year. 
  
 (3) Participant’s Account Balance. The balance in a Participant’s Accounts as of the last Valuation Date
in the calendar year immediately preceding the Distribution Calendar Year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the Participant’s Accounts as of dates in the
valuation calendar year after the Valuation Date and decreased by distributions made in the valuation calendar year after the Valuation Date. A Participant’s Account Balance for the valuation calendar year includes any amounts rolled over or
transferred to the Plan either in the valuation calendar year or in the Distribution Calendar Year if distributed or transferred in the valuation calendar year. 
  

(4) Requiring Beginning Date. With respect to a Participant or beneficiary, the date described in Section 417 of the Code. 
  
 8.8 Facility of Payment. If a Participant or Beneficiary is declared
an incompetent or is a minor, any benefits to which such Participant or Beneficiary is entitled shall be payable only to a conservator, guardian, or other person legally charged with his care who was appointed or designated by a court of competent
jurisdiction. An Employer, the Trustee and the Benefits Committee shall not be under any duty to see to the proper application of such payments. 
  

 36 

 8.9 Advance Payment of Benefits. If a Participant is entitled to payment of a benefit under the
Plan, the Benefits Committee may, with the Participant’s consent if required under the provisions of the Plan, make advance payment of all or any portion of such Participant’s benefit. If such advance payment is made, the Benefits
Committee shall require reimbursement of any amount subsequently determined not to have been properly payable to such Participant. 
  
 8.10 Unclaimed Amounts. Unclaimed amounts shall consist of the benefits which the Benefits Committee has directed to be paid to a Participant or
Beneficiary but which are not distributed because of the Benefits Committee’s inability, after reasonable search, to locate such Participant or Beneficiary within a period of two years after the payment of benefits becomes due. Unclaimed
amounts shall be considered as Forfeitures which shall be deemed to occur as of the end of the said two year period. If, after such Forfeiture, an unclaimed amount is properly claimed by the former Participant or Beneficiary, said amount shall be
paid to such former Participant or Beneficiary, and such payment shall be accounted for by charging it against Forfeitures, or if insufficient, made up from Employer Contributions without regard to any other provision of this Plan. 
  
 8.11 Domestic Relations Order Distributions. The Accrued Benefit of a
Participant shall be distributable in accordance with the terms of a Qualified Domestic Relations Order, including distributions prior to the Participant’s “earliest retirement age” as defined in Code Section 414(p). 
  

 37 

 ARTICLE IX. 
  
 ADMINISTRATION 
  
 9.1 Fiduciaries. Under certain circumstances, the Trustee, the Board of Managers, the Investment Managers, or the Benefits Committee may be
determined by a court of law to be a fiduciary with respect to a particular action under the Plan or the Trust Agreement. As authorized by ERISA, to prevent any two parties to the Plan from being deemed co-fiduciaries with respect to a particular
function, both the Plan and Trust Agreement are intended, and should be construed, to allocate to each party to the Plan only those specific powers, duties, responsibilities, and obligations as are specifically granted to it under the Plan or Trust.
The Company shall be the “named fiduciary” for purposes of ERISA. 
  
 9.2 Allocation of Responsibilities Among Named Fiduciaries. 
  
 (a) Trustee. The Trustee shall have the authority and responsibility to manage and control the Trust Fund and for the investment and safekeeping of
the assets of the Plan, except to the extent such authority and responsibility is delegated to one or more Investment Managers. The Trustee shall also have those responsibilities set forth in the Trust Agreement and the provisions of this Plan.

  
 (b) Board of Managers. The Board of Managers shall have
exclusive authority and responsibility for: 
  
 (1) The
termination of this Plan; and 
  
 (2) The adoption of an
amendment to this Plan which would materially increase or decrease the amount of Employer Contributions provided for in this Plan. 
  
 (c) Benefits Committee. The Benefits Committee shall have exclusive authority responsibility for those functions set forth in Section 9.3 and in
other provisions of this Plan. 
  
 (d) Investment Managers.
The Investment Managers, if and to the extent appointed by the Benefits Committee, shall have the authority and responsibility for the investment of all or any part of the assets of the Plan, as delegated to the Investment Managers by the Benefits
Committee. In addition, in investing any of the assets of the Plan, the Investment Managers shall follow any investment objectives or guidelines established by the Benefits Committee and communicated to the Investment Managers. 
  
 9.3 Provisions Concerning the Benefits Committee. 
  
 (a) Membership and Voting. The members of the Benefits Committee
shall be appointed and removed by the Chief Executive Officer of the Company. The Benefits Committee shall consist of not less than three members. The Chief Executive Officer of the Company may remove any member of the Benefits Committee at any
time, with or without cause, by written notice to such member and to the other members of the Benefits Committee. Any member may resign by delivering a written resignation to the Chief Executive Officer of the 
  

 38 

 Company. Vacancies in the Benefits Committee arising by death, resignation or removal shall be filled by the Chief
Executive Officer of the Company. The Benefits Committee shall act by a majority of its members at the time in office, and such action may be taken by a vote at a meeting, in writing without a meeting, or by telephonic communications. Attendance at
a meeting shall constitute waiver of notice thereof. A member of the Benefits Committee who is a Participant of the Plan shall not vote on any question relating specifically to such Participant. Any such action shall be voted or decided by a
majority of the remaining members of the Benefits Committee. The Benefits Committee shall appoint a Secretary who may, but need not, be a member thereof. The Benefits Committee may appoint from its members such subcommittees with such powers as the
Benefits Committee shall determine. 
  
 (b) Powers and Duties
of Benefits Committee. The Benefits Committee shall have the authority and responsibility for: 
  
 (1) All amendments to this Plan, except to the extent such authority is reserved to the Board of Managers; 
  
 (2) The approval of any merger or spin-off of any part of this Plan;

  
 (3) The appointment, removal, with or without cause, or the
replacement of the Trustee, and Investment Managers; 
  
 (4) The
delegation of responsibilities to the Trustee, or any other person or entity; 
  
 (5) Execute any certificate, instrument or other written direction on behalf of the Plan and may make any payment on behalf of the Plan. All interpretations of this Plan, and questions concerning its administration
and application, shall be determined by the Benefits Committee, and such determination shall be binding on all persons, except as otherwise expressly provided herein; and 
  
 (6) The Benefits Committee shall select the Investment Funds and Investment Managers under the Plan and monitor the
performance of such Investment Funds and Investment Managers. 
  
 (7) To construe and interpret the Plan in its sole discretion and to resolve any ambiguities with respect to any of the terms and provisions thereof as written and as applied to the operation of the Plan; 
  
 (8) To decide all questions of eligibility and determine the amount, manner
and time of payment of any Benefits hereunder; 
  
 (9) To
prescribe procedures to be followed by Participants or Beneficiaries filing applications for Benefits; 
  
 (10) Prepare and distribute, in such manner as the Committee determines to be appropriate, information explaining the Plan; 
  

 39 

 (11) To receive from the Employer and from Participants and Beneficiaries such information as shall be
necessary for the proper administration of the Plan; 
  
 (12) To
furnish the Employer, upon request, such annual reports with respect to the administration of the Plan as are reasonable and appropriate; and 
  
 (13) To receive, review and keep on file (as it deems convenient or proper) reports of the financial condition, and of the receipts and disbursements, of
the Trust Fund from the Trustee. 
  
 The Benefits Committee may appoint such
accountants, counsel, specialists, and other persons, as it deems necessary or desirable in connection with the administration of this Plan. Such accountants and counsel may, but need not, be accountants and counsel for the Company or an Affiliate.
The Benefits Committee also shall have such other duties, authority and responsibility as may be delegated by the Board of Managers or the Chief Executive Officer of the Company. 
  
 9.4 Delegation of Responsibilities: Bonding. 
  
 (a) Delegation and Allocation. The Board of Managers and the Benefits Committee shall have the authority to delegate
or allocate, from time to time, by a written instrument, all or any part of their responsibilities under this Plan to such person or persons as each may deem advisable and in the same manner to revoke any such delegation or allocation of
responsibility. Any action of a person in the exercise of such delegated or allocated responsibility shall have the same force and effect for all purposes hereunder as if such action had been taken by the Board of Managers or the Benefits Committee.
An Employer, the Board of Managers or the Benefits Committee shall not be liable for any acts or omissions of any such person, who shall periodically report to the Board of Managers or the Benefits Committee, as applicable, concerning the discharge
of the delegated or allocated responsibilities. 
  
 (b)
Bonding. The members of the Benefits Committee shall serve without bond (except as expressly required by federal law) and without compensation for their services as such. 
  
 9.5 No Joint Fiduciary Responsibilities. This Plan is intended to allocate to each named fiduciary the individual
responsibility for the prudent execution of the functions assigned to it, and none of such responsibilities or any other responsibility shall be shared by two or more of such named fiduciaries unless such sharing is provided for by a specific
provision of the Plan. Whenever one named fiduciary is required herein to follow the directions of another named fiduciary, the two named fiduciaries shall not be deemed to have been assigned a shared responsibility, but the responsibility of a
named fiduciary receiving such directions shall be to follow them insofar as such instructions are on their face proper under applicable law. 
  
 9.6 Information to be Supplied by Employer. Each Employer shall supply to the Benefits Committee, within a reasonable time after each Valuation
Date and in such form as the Benefits Committee shall require, the names of all Employees who incurred a Termination of Employment or layoff and the date of termination of each, the amount of Compensation paid to each Active Participant, the amount
of Employee and Employer Contributions made on behalf of each Participant. The Benefits Committee may rely conclusively on the information certified to it by an Employer. Each Employer shall provide to the Benefits Committee or its delegate such
other information, as it shall from time to time need in the discharge of its duties. 
  

 40 

 9.7 Records. The regularly kept records of the Trustee, Benefits Committee and of any Employer
shall be conclusive evidence of the Accrued Benefit, Vesting Service, Years of Participation, Eligibility Service of a Participant, his Compensation, his age, marital status, his status as an Eligible Employee, and all other matters contained
therein applicable to this Plan; provided that a Participant may request a correction in the record of his age and marital status at any time prior to retirement, and such correction shall be made if within 90 days after such request he furnishes in
support thereof a birth certificate, baptismal certificate, marriage certificate, or other documentary proof of age satisfactory to the Benefits Committee. 
  
 9.8 Fiduciary Capacity. Any person or group of persons may serve in more than one fiduciary capacity with respect to the Plan. 
  
 9.9 Blackout Period Restrictions. Notwithstanding any other provision
in the Plan to the contrary, during the period of time established by the Benefits Committee, in its sole and absolute discretion, necessary to make system or investment changes or mergers, acquisitions or divestitures associated with the
administration of the Plan, a Participant shall not be permitted to change the investment direction of his Accrued Benefit, take distributions, make withdrawals, take loans, or to effectuate other transactions determined by the Benefits Committee,
in its sole and absolute discretion. 
  
 9.10 Military
Leave. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code. Loan repayments will be
suspended under this Plan as permitted under Section 414(u)(4) of the Code. 
  

 41 

 ARTICLE X. 
  
 AMENDMENT AND TERMINATION OF THE PLAN 
  
 10.1 Discontinuance of Contributions. It is the expectation of the Company that it will continue the Plan and the payment of Employer Contributions
hereunder indefinitely, but the continuation of the Plan and the payment of Employer Contributions hereunder is not assumed as a contractual obligation of the Company or any other Employer, and the Company reserves the right at any time to reduce,
suspend or discontinue its contributions hereunder; provided, however, that the Employer Contributions for any Plan Year accrued or determined prior to the end of such Plan Year shall not after the end of said Plan Year be retroactively reduced,
suspended or discontinued. 
  
 10.2 Amendments. 

 
 (a) As provided in Article IX, the Benefits Committee or Board of
Managers, as appropriate, may amend, modify, change, revise or discontinue this Plan or the Trust Agreement, at any time; provided that, except where allowed by or required to conform to provisions of the Code or ERISA, or any other statute relating
to employees’ trusts, or any official regulations or rulings issued pursuant thereto: (1) no amendment shall increase the duties or liabilities of a Trustee or the Investment Managers without their respective written consent; (2) no amendment
shall have the effect of vesting in any Employer any interest in any funds, securities or other property, subject to the terms of this Plan and the Trust Agreement; (3) no amendment shall authorize or permit at any time any part of the corpus or
income of the Trust Fund to be used or diverted to purposes other than for the exclusive benefit of Participants and their Beneficiaries; and (4) no amendment shall have any retroactive effect which would deprive any Participant or Beneficiary of
any Accrued Benefit already accrued. 
  
 (b) If a person is not an
Employee on or after the effective date of any amendment to the Plan, the amendment shall be deemed as having no effect on the amount of such person’s Accrued Benefit, unless the amendment specifically provides otherwise. 
  
 (c) No amendment to the Plan’s vesting schedule shall deprive a
Participant of his nonforfeitable rights to his Accrued Benefits to the date of the amendment. Further, if the vesting schedule of the Plan is amended, each Participant with at least three years of Vesting Service with the Employer may elect, within
a reasonable period after the adoption of the amendment, to have his nonforfeitable percentage computed under the Plan without regard to such amendment. The period during which the election may be made shall commence with the date the amendment is
adopted and shall end on the latest of: 
  
 (1) 60 days after
the amendment is adopted; 
  
 (2) 60 days after the amendment
becomes effective; or 
  
 (3) 60 days after the Participant is
issued written notice of the amendment by the Employer or Benefits Committee. 
  

 42 

 10.3 Plan Termination. This Plan shall terminate upon the happening of any of the following
events: 
  
 (a) A general assignment by the Company to or for the
benefit of its creditors, or dissolution of the Company other than by form of or as a result of a reorganization where the business of the Company is continued; or 
  
 (b) Termination of the Plan by the Board of Managers at any time when, in its judgment, business, financial or other good
causes make such termination necessary; such termination to become effective upon the execution and delivery by the Company to the Benefits Committee and to the Trustee of a written resolution signed on its behalf by an officer of the Company and
stating the fact of such termination. 
  
 10.4 Payment Upon
Termination. Upon termination of the Plan or complete discontinuance of Employer Contributions hereunder, each Participant and Beneficiary’s Accrued Benefit shall become fully vested. Upon a partial termination of the Plan, the Accrued
Benefit of each affected Participant shall become fully vested. Upon a termination of the Plan, the Trustee shall distribute to each Participant the entire amount of his Accrued Benefit in a lump sum no later than 60 days after the close of the Plan
Year in which the event occurred. 
  

 43 

 ARTICLE XI. 
  
 TOP-HEAVY PROVISIONS 
  
 11.1 Definitions. The following words and phrases shall have the meanings set forth below when used in the capitalized form, unless a different
meaning is clearly warranted by the context: 
  
 (a)
“Aggregation Group” means a Required Aggregation Group or a Permissive Aggregation Group, as appropriate. 
  
 (1) “Required Aggregation Group” means that group of plans comprised of each defined contribution and each defined benefit plan
sponsored by the Company or any Affiliate in which at least one Key Employee participates, and any other defined contribution or defined benefit plan sponsored by the Company or by any Affiliate which enables a plan in which a Key Employee
participates to satisfy the minimum participation and non-discrimination requirements of Code Sections 410 or 401(a) (4). 
  
 (2) “Permissive Aggregation Group” means all plans included in the Required Aggregation Group and any other plan or plans sponsored by
the Company or by an Affiliate but only if such group of plans would satisfy, in the aggregate, the minimum participation and non-discrimination requirements of Code Sections 410 and 401(a) (4) and contributions or benefits in such other plans are
comparable to contributions or benefits in the plans of the Required Aggregation Group. The Benefits Committee shall determine which plan or plans shall be taken into account in determining the Permissive Aggregation Group. 
  
 (b) “Determination Date” means, with respect to a Plan Year,
the last day of the immediately preceding Plan Year. 
  
 (c)
“Key Employee” means any employee or former employee (including any deceased employee) who at any time during the Plan Year that includes the determination date was an officer of the employer having annual compensation greater than
$130,000 (as adjusted under Section 416(i)(1) of the Code for Plan Years beginning after December 31, 2002), a 5% owner of the employer, or a 1% owner of the employer having annual compensation of more than $150,000. For this purpose, annual
compensation means compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a key employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of
general applicability issued thereunder. 
  
 (d) “Non-key
Employee” shall mean an Employee who is not a Key Employee, including an Employee who is a former Key Employee. 
  
 (e) “Top-Heavy Compensation” shall mean for all purposes under this Article XI, annual compensation within the meaning of Code Section
415(c)(3) for the Plan Year containing the Determination Date. 
  
 11.2 Application of Top-Heavy Provisions. The top-heavy provisions of this Article shall be applied as follows: 
  
 (a) Single Plan Determination. Unless this Plan is included in an Aggregation Group, it will be considered top heavy and the provisions of this
Article shall be applicable, if, as of a Determination Date, the cumulative Accrued Benefits of Key Employees under the Plan exceeds 60% of the cumulative Accrued Benefits of all Employees under the Plan. 
  

 44 

 (b) Aggregation Group Determination. If the Plan is included in an Aggregation Group, it will be
considered top heavy and the provisions of this Article XI shall be applicable, if, as of a Determination Date, the sum of account balances of Key Employees under all defined contribution plans in the group and the cumulative Accrued Benefits of Key
Employees under all defined benefit plans in such group exceed 60% of the same amounts determined for all employees under all plans included in the Aggregation Group. 
  
 (c) Top-Heavy Test. This subsection (c) shall apply for purposes of determining the present values of the amounts of
Account balances of Employees as of the determination date. 
  
 (1) Distributions During Year Ending on the Determination Date. The present values of the amounts of Account balances of an Employee as of the determination date shall be increased by the distributions made with respect to the
employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the 1-year period ending on the determination date. The preceding sentence shall also apply to distributions under a terminated plan which, had
it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than separation from service, death, or disability, this provision shall be applied by
substituting 5-year period for 1-year period. 
  
 (2)
Employees Not Performing Services During Year Ending on the Determination Date. The accounts of any individual who has not performed services for the Employer and its Affiliates during the 1-year period ending on the determination date shall
not be taken into account. 
  
 11.3 Top-Heavy Determination
.. The Benefits Committee shall determine whether the Plan is a Top-Heavy Plan with respect to each Plan Year and such determination shall be final and binding on all Participants. 
  
 11.4 Vesting Requirements. A Participant’s interest in his Accrued Benefit shall vest in accordance with the
provisions of Section 8.3 without regard to whether or not the Plan is determined to be top-heavy with respect to any Plan Year. 
  
 11.5 Minimum Contribution Amount . If the Plan is determined to be top-heavy with respect to a Plan Year, then each Eligible Employee who has not
separated from service by the end of the Plan Year, other than a Key Employee, shall receive an allocation which is not less than the lesser of (a) 3% of his Compensation for such Plan Year, or (b) the greatest amount allocated to any Key Employee
(when expressed as a percentage of Compensation) under this Plan or under any other defined contribution plan included in the Aggregation Group, if any; provided, however, in the event the greatest amount so allocated to any Key Employee is less

  

 45 

 than 3% of his Compensation for such Plan Year, then Pre-Tax Contributions shall be included in determining the amount
allocated to each Key Employee. An Eligible Employee shall be entitled to such minimum contribution even though such Employee is not a Participant or fails to complete a Year of Service during such Plan Year. Such minimum contribution shall be
determined without regard to Social Security integration or any Pre-Tax Contribution. Employer matching contributions shall be taken into account for purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the Code and
the Plan. The preceding sentence shall apply with respect to matching contributions under the Plan or, if the Plan provides that the minimum contribution requirement shall be met in another plan, such other plan. Employer matching contributions that
are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of Section 401(m) of the Code. If a Non-key Employee is a Participant
and a participant in a defined benefit plan maintained by an Affiliate during a Plan Year in which the Plan is top-heavy, then such Participant shall be provided an allocation under the Plan equal to 5% of his compensation; provided, however, the
amount of any such allocation under the Plan shall be reduced by the amount of any allocation made on behalf of such Participant for such Plan Year under any other defined contribution plan which is included in the Aggregation Group. 
  

 46 

 ARTICLE XII. 
  
 LOANS 
  
 12.1 Authorization of Loans. Upon the request for a loan (which meets the requirements of this Article XII) made by a Participant who is an
Employee, the Benefits Committee shall authorize the Trustee to make a loan to such Participant. All such loans shall be subject to the requirements of this Article XII and such other rules and guidelines, if any, as the Benefits Committee may
prescribe from time to time. Any loan applied for after the Benefits Committee implements a paperless loan system, may be applied for and processed electronically, with the execution of such paper documents as the Benefits Committee may require
being accomplished in connection with the disbursement of funds so as to establish an enforceable obligation under applicable law. 
  
 12.2 Minimum Requirements for Loans. A loan to a Participant must meet the following requirements as well as such other terms as the Benefits
Committee may establish from time to time: 
  
 (a) Principal
Amount. The maximum principal amount of any loan balance owed by a Participant to this Plan and to any other qualified plan sponsored by an Employer shall not exceed the lesser of: (1) $50,000 reduced by the aggregate of the highest outstanding
balances of such loans during the immediately preceding twelve-month period, or (2) 50% of a Participant’s nonforfeitable Accrued Benefit, as of the most recently available determination of the Participant’s Accrued Benefit. All loans
shall be made effective as of the Valuation Date following the receipt of a properly filed loan application, and loan funds shall be disbursed by the Trustee as soon as practicable thereafter. The minimum loan amount shall be $1,000. The Benefits
Committee is authorized to adopt rules which either reduce the maximum principal amount of a loan or provide a minimum amount which may be loaned to a Participant. 
  
 (b) Maximum Term. The repayment term of any loan may not exceed 60 months from the date of the loan is made, unless
the loan principal is used to acquire any dwelling unit which within a reasonable time is to be used as a principal residence of the Participant, in which case the maximum term shall not exceed 10 years. If a Participant incurs a Termination of
Employment for any reason, the loan shall then immediately become due and payable 90 days from the date of the Termination of Employment. 
  
 (c) Interest Rate. Each loan shall bear interest at rate equal to the prime lending rate of Wachovia Bank, National Association plus one percentage
point. 
  
 (d) Repayment. The loan of any Participant who
is an Employee shall be repaid by payroll withholding over its term in level installment payments. A Participant shall also be allowed to prepay any scheduled payment at any time. Any prepayment will be applied first to any unpaid principal and then
to any accrued but unpaid interest. Provided, however, if a Participant with a loan terminates employment for any reason, the loan shall then immediately become due and payable. 
  
 (e) Collateral. The loan shall be secured by up to 50% of the Participant’s nonforfeitable Accrued Benefit, and
such other collateral as the Benefits Committee may require from time to time. The Benefits Committee may release any portion of such collateral that the Benefits Committee determines is not required to adequately secure the repayment of such loan.

  

 47 

 (f) Distribution of Accrued Benefit. If the nonforfeitable portion of a Participant’s Accrued
Benefit is to be distributed prior to the Participant’s payment of all principal and accrued interest on any loan to such Participant, the distribution shall include, as an offset, the amount of unpaid principal and accrued interest on the loan
as of the date of such distribution; however, if such distribution is made in connection with the sale of the stock or the assets of an Employer, the entire loan may be distributed solely as a Direct Rollover, in accordance with Article XIV to a
trust for a qualified plan, as determined under Code Section 401(a), maintained by the purchaser, provided such trust will accept the Participant’s loan as an investment. The Benefits Committee may determine, in its discretion, that the amount
of any distribution shall not include an offset for a loan balance, if the undistributed nonforfeitable portion of the Participant’s Accrued Benefit, which remains pledged as collateral for such outstanding loan, represents adequate security
therefor. In addition, the Benefits Committee shall determine, in its discretion, whether or not a Direct Rollover is in connection with an acquisition of the stock or assets of an Employer. 
  
 (g) Notes. All loans shall be evidenced by a collateral promissory
note containing such terms and conditions as the Benefits Committee shall require. 
  
 (h) Frequency. A Participant shall be permitted to have up to two loans at any one time. More than two loans may be permitted in the case of loans rolled into the Plan in connection with a corporate transaction
at the sole discretion of the Benefits Committee. 
  
 (i)
Funding Limitation. A Participant shall not be permitted to borrow funds from a self-directed brokerage account; however, any monies held in a self-directed brokerage account on behalf of the Participant shall be taken into account in
determining the maximum available loan under Section 12.2(a). 
  
 (j) Rollover of Loans to this Plan. The Plan will accept a rollover of a loan if the rollover is in connection with the purchase of the stock or assets of another entity by the Employer. In the case of a loan rolled over to this Plan
from another qualified plan, the term of the loan and the interest rate charged on the loan shall be the same as the terms of the loan prior to rollover to this Plan even if the term of the loan exceeds the maximum repayment period of this Plan.
Except as otherwise provided herein, a loan rolled over to this Plan pursuant to this Subsection 12.2(j) shall be subject to the provisions of this Section 12.2. 
  
 12.3 Accounting for Loans . Each loan shall be deemed to be made from the account or accounts of the Participant to
whom the loan is made. All payments with respect to the loan shall be credited to the account or accounts of such Participant from which such loan is deemed to be made. 
  
 12.4 Fees . The Trustee will determine the fee to initiate a loan and the monthly maintenance fee. 

  

 48 

 ARTICLE XIII. 
  
 SPECIAL PLAN TO PLAN TRANSFERS 
  
 13.1 Transfers From Other Plans. With the approval of the Benefits Committee, all or any portion of the Accrued Benefit of any Participant or class
of Participants may be transferred from (or to) this Plan to (or from) any other plan qualified under Code Section 401, subject to such terms and conditions as shall be established at the time of the transfer. No transfer of any accrued benefit will
be made to this Plan from any plan required to provide benefits to its participants in the form of annuities pursuant to Code Section 401(a)(11) and 417, unless prior to such transfer appropriate provisions are included in this Plan to separately
account for amounts so transferred and to provide such annuities with respect to such amounts separately accounted for on behalf of each Participant whose benefit is so transferred. 
  

 49 

 ARTICLE XIV. 
  
 DIRECT ROLLOVERS 
  
 14.1 Right of Direct Rollover. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee’s election
under this part, a Distributee may elect, at the time and in the manner prescribed by the Benefits Committee, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a
Direct Rollover. 
  
 14.2 Definitions. For purposes of this
Article XIV, the following words and phrases shall have the meanings set forth below when used in the capitalized form, unless a different meaning is clearly warranted by the context: 
  
 (a) “Direct Rollover” shall mean a distribution by the Plan to the Eligible Retirement Plan specified by
the Distributee. 
  
 (b) “Distributee” shall mean
a person who is entitled to receive an Eligible Rollover Distribution from the Plan. 
  
 (c) “Eligible Retirement Plan” shall mean an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity
plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee’s Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the
surviving spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity. An Eligible Retirement Plan shall also mean an annuity contract described in Section 403(b) of the Code and an eligible plan under
Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this
Plan. The definition of Eligible Retirement Plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is the alternate payee under a qualified domestic relation order, as defined in Section 414(p)
of the Code. 
  
 (d) “Eligible Rollover
Distribution” shall mean any distribution of all or any portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: any distribution that is one of a series of substantially equal
periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee’s designated beneficiary, or for a specified
period of ten years or more; any distribution to the extent such distribution is required under Section 401(a)(9) of the Code; and the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for
net unrealized appreciation with respect to employer securities). In addition, any amount that is distributed on account of hardship shall not be an Eligible Rollover Distribution and the Distributee may not elect to have any portion of such a
distribution paid directly to an Eligible Retirement Plan. Further, a portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists of after-tax employee contributions which are not includible
in gross income. However, such portion may be transferred only to an individual 
  

 50 

 retirement account or annuity described in Section 408(a) or (b) of the Code, or to a qualified defined contribution plan
described in Section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such
distribution which is not so includible. 
  

 51 

 ARTICLE XV. 
  
 MISCELLANEOUS PROVISIONS 
  
 15.1 Employer Adoption. Any Affiliate may, adopt or withdraw from this Plan with the consent of the Benefits Committee. The adoption resolution may
contain such specific changes and variations in this Plan’s terms and provisions applicable to the Employees of the adopting Employer. 
  
 15.2 Plan Merger. This Plan shall not be merged or consolidated with, nor shall any assets or liabilities be transferred to, any other plan, unless
the benefits payable to each Participant under this Plan and any other plan involved in such merger, consolidation or transfer, if this Plan were terminated immediately after such action, would be equal to, or greater than, the benefits to which
such Participant would have been entitled if this Plan had been terminated immediately before such action. 
  
 15.3 Indemnification. Each Employer shall indemnify and hold harmless each member of the Board of Managers, each member of the Benefits Committee,
and each officer and employee of an Employer to whom are delegated duties, responsibilities, and authority with respect to this Plan against all claims, liabilities, fines and penalties, and all expenses reasonably incurred by or imposed upon him
(including but not limited to reasonable attorney fees) which arise as a result of his actions or failure to act in connection with the operation and administration of this Plan to the extent lawfully allowable and to the extent that such claim,
liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by an Employer. Notwithstanding the foregoing, an Employer shall not indemnify any person for any such amount incurred through any settlement or
compromise of any action unless the Employer consents in writing to such settlement or compromise. 
  
 15.4 Nonalienation of Benefits. Except as expressly provided for by this Plan or otherwise permitted by law, benefits payable under this Plan shall
not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind, either voluntary or involuntary, including any such liability which is for alimony or
other payments for the support of a spouse, former spouse or children of the Participant, or for any other relative of a Participant prior to being actually received by the person entitled to the benefit under the terms of the Plan; and any attempt
to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge, garnish, execute or levy upon, or otherwise dispose of any right to benefits payable hereunder, shall be void. The Trust shall not in any manner be liable for, or subject to,
the debts, contracts, liabilities, engagements or torts of any person entitled to benefits hereunder. 
  
 15.5 Contract of Employment. Nothing contained herein shall be construed to constitute a contract of employment between an Employer and any
Employee. Any amounts contributed by an Employer under this Plan shall be a gratuitous payment in recognition of services performed by such Participant during the period covered by the Employer Contribution. Whether there shall be a contribution for
any given Plan Year, and the amount of such contribution shall be determined solely pursuant to the provisions of this Plan. 
  

 52 

 15.6 Source of Benefits. All benefits payable under this Plan shall be paid or provided for solely
from the Trust, and the Employers assume no liability or responsibility therefor. 
  
 15.7 Employees’ Trust. This Plan and Trust are created for the exclusive purpose of providing benefits to the Participants and their Beneficiaries and defraying reasonable expenses of administering the
Plan. The Plan and Trust shall be interpreted in a manner consistent with their being, respectively, a Plan described in Section 401(a) of the Code and a Trust exempt under Section 501(a) of the Code. At no time shall the Trust Fund be diverted from
the above purpose. 
  
 15.8 Gender and Number. Except when
the context indicates to the contrary, when used herein, masculine terms shall be deemed to include the feminine and singular the plural. 
  
 15.9 Headings. The headings of Articles and Sections are included solely for convenience of reference, and if there is any conflict between such
headings and the text of this Plan, the text shall control. 
  
 15.10 Invalidity of Certain Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof and the Plan shall be construed and
enforced as if such provisions, to the extent invalid or unenforceable, had not been included. 
  
 15.11 Law Governing. This Plan shall be construed and enforced according to the laws of the State of Oklahoma (other than its laws respecting choice of law) to the extent not preempted by ERISA. 
  

 53 

 ARTICLE XVI. 
  
 CLAIM REVIEW PROCEDURES 
  
 16.1 Claims Procedure. 
  
 (a) The Committee shall make all determinations as to the right of any person to benefits. If any request for benefits is wholly or partially denied, the
Committee shall notify the person requesting such benefits, in writing, of such denial, including in such notification the following information: 
  
 (1) The specific reason or reasons for such denial; 
  
 (2) The specific references to the pertinent Plan provisions upon which the denial is based; 
  
 (3) A description of any additional material and information which may be
needed to clarify the request, including an explanation of why such information is required; and 
  
 (4) An explanation of this Plan’s review procedure with respect to denial of such Benefits. 
  
 (5) Any such notice to be delivered to any Participant or Beneficiary shall
be personally delivered within a reasonable time to such Participant by obtaining a signed receipt therefor or shall be mailed by certified or registered mail with return receipt requested to such Participant. Such notice shall be written to the
best of the Committee’s ability in a manner that may be understood without legal counsel. 
  
 (b) Any Participant or Beneficiary whose claim has been denied in accordance with the foregoing Subsection (a) herein may appeal to the Committee for review of such denial by making a written request therefor within
60 days of receipt of the notification of such denial. Such Participant or Beneficiary may examine documents pertinent to the review and may submit to the Committee written issues and comments. Within 60 days (45 days in the case of a claim
involving a disability determination) after receipt of the request for review, the Committee shall communicate to the claimant, in writing, its decision, and the communication shall set forth the reason or reasons for the decision and specific
reference to those Plan provisions upon which the decision is based. 
  

 54 

 Executed this 31ST day of December, 2003, to be effective for all purposes as of the Effective Date. 
  

			
	MAGELLAN MIDSTREAM HOLDINGS, L.P.
		
	 By:
	 	 Magellan Midstream Management, LLC, its
 general partner

		
	 Name:
	 	 /s/    John D. Chandler

	 Title:
	 	 VP and CFO

  

 55 

 APPENDIX I 
  

Investment Funds 
 (as of January 1, 2004)

  

	
	Gartmore Stable Value Fund (Default Investment Fund)
	
	Evergreen Core Bond
	
	American High Income Trust
	
	Van Kampen Equity & Income
	
	Van Kampen Comstock Fund
	
	Wachovia Enhanced Stock Market Index
	
	Growth Fund of America
	
	Fidelity Advisors Mid Cap Growth
	
	Evergreen Special Values
	
	First Eagle Overseas
	
	Self-Directed Brokerage Account

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}]]