Document:

Exhibit 10.2 2013

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

The Dow Chemical Company
Retiree Life Insurance Plans
for Salaried Retirees and Certain Hourly Retirees

Summary Plan Description for

Retiree Company-Paid Life Insurance Plan
Retiree Optional Life Insurance Plan
Retiree Dependent Life Insurance Plan

APPLICABLE TO EMPLOYEES  
HIRED BEFORE JANUARY 1, 2008

Amended and Restated 
Effective January 1, 2014 and thereafter until superseded

This Summary Plan Description (SPD) is updated from time to time.  An updated version supersedes all prior versions of this SPD.

Copies of updated SPDs (including this SPD) can be found at the Dow Friends website or by requesting a copy from the Dow Retiree Service Center, Employee Development Center, Midland, MI 48674, telephone 800-344-0661 or 989-636-0977.  Summaries of modifications may also be published from time to time.

(includes Michigan Hourly Retiree Optional Life Group) 

DC: 5018779-19

49
Content Steward:  Dombek    
January 1, 2014
Literature #318-60516

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Overview
This is the Summary Plan Description (“SPD”) for the following three life insurance plans available to eligible Retirees and their families:  Retiree Company-Paid Life Insurance Plan, Retiree Optional Life Insurance Plan and Retiree Dependent Life Insurance Plan (hereafter collectively referred to as the “Plans” or individually as “Plan”).
Each of the Plans is sponsored and administered by The Dow Chemical Company and provides group term life insurance underwritten by Metropolitan Life Insurance Company (“MetLife”).  Different eligibility and coverage levels apply depending on whether you are a Retired Salaried Employee or a Retired Hourly Employee (and depending on which Hourly group you were in).  Special rules also apply for Retired Split Dollar Participants, Post-65 Executive Life Participants, and Disability Retirees (each as defined in Chapter One:  The Retiree Company-Paid Life Insurance Plan).
This SPD is separated into four different chapters and several appendices:
		
	•
	Chapter One – a description of the Retiree Company-Paid Life Insurance Plan.

		
	•
	Chapter Two – a description of the Retiree Optional Life Insurance Plan.

		
	•
	Chapter Three – a description of the Retiree Dependent Life Insurance Plan.

		
	•
	Chapter Four – general information applicable to all of the Plans

		
	•
	Claims Procedures Appendix

		
	•
	Definitions Appendix (Glossary of terms used throughout this SPD; capitalized terms used in this SPD are defined either in this Definitions Appendix or in the Plan Document)

The Plans are technically part of two Programs sponsored by The Dow Chemical Company (referred to in this SPD as the “Programs”):  
		
	•
	The Retiree Company-Paid Life Insurance Plan is part of The Dow Chemical Company Group Life Insurance Program (ERISA Plan #507).

		
	•
	The Retiree Optional Life Insurance Plan and the Retiree Dependent Life Insurance Plan are part of The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program (ERISA Plan #515).  

The Plans are governed by the plan documents for these two Programs, which are the legal instruments under which the Programs are operated.  These legal instruments are referred to in this SPD as the “Plan Document.”  If there is any inconsistency between this SPD and the applicable Plan Document, the applicable Plan Document shall govern.
This SPD contains important information about your benefits under the Plans.  However, it does not contain all of the information that may pertain to your benefits.  Further information can be found in the Plan Document for the applicable Program.  You may request a copy of the applicable Plan Document from the Plan Administrator.
	
	
	The Dow Chemical Company reserves the right to amend, modify or terminate the Plans (and any of the programs of which the Plans are a part) at any time in its sole discretion.

 
This SPD and the Plan Documents do not constitute a contract of employment.  

50

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Capitalized words in this SPD are defined either in the Plan Document for the applicable Program, or in the Definitions Appendix.  A pronoun or adjective in the masculine gender includes the feminine gender, and the singular includes the plural, unless the context clearly indicates otherwise.
References to “Dow” and “Participating Employers” are used interchangeably, and both refer collectively to The Dow Chemical Company and the subsidiaries and affiliates of The Dow Chemical Company that are authorized to participate in the Plans.  The “Company” means The Dow Chemical Company.

51

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Chapter One:  The Retiree Company-Paid Life Insurance Plan
Chapter One of the SPD describes The Retiree Company-Paid Life Insurance Plan (referred to in this chapter of the SPD as the “Plan”).  The following groups of retirees are eligible for coverage under the Plan:
		
	•
	Section 1 applies to Retired Salaried Employees and Certain Retired Hourly Employees

		
	•
	Section 2 applies to Retired Michigan Operations Hourly Employees who retired before 2008

		
	•
	Section 3 applies to Retired Texas Operations Hourly Employees who retired before 2003

		
	•
	Section 4 applies to Retired Hampshire Waterloo Hourly Employees who retired before 2000

		
	•
	Section 5 applies to certain Retired Hampshire Owensboro and Nashua Hourly Employees who retired before 1999

		
	•
	Section 6 applies to Disability Retirees

		
	•
	Section 7 applies to Retired Split Dollar Participants

		
	•
	Section 8 applies to Post-65 Executive Life Insurance Participants

		
	•
	Section 9 applies to Certain Union Carbide Retirees who retired prior to February 7, 2003

		
	•
	Section 10 applies to Retired Employees of Dow AgroSciences LLC who retired before 2006

		
	•
	Section 11 applies to post-January 22, 2007 acquisition new hires

The remaining sections of Chapter One apply to all persons eligible for coverage under the Plan
As of January 1, 2005, the following plans of The Dow Chemical Company Group Life Insurance Program were merged into the Plan:
		
	•
	Michigan Hourly Retiree Company-Paid Life Insurance Plan; 

		
	•
	Texas Operations Hourly Basic Life Insurance Plan; 

		
	•
	Hampshire Hourly Retiree Company-Paid Life Insurance Plan; 

		
	•
	Hampshire Chemical Corporation Hourly Retiree Company-Paid Life Insurance Plan for Retirees Who Retired Between March 1, 1988 and January 1, 1999; 

		
	•
	Hampshire Chemical Corporation Hourly Retiree Company-Paid Life Insurance Plan (Waterloo);

		
	•
	ANGUS Hourly Retiree Company-Paid Life Insurance Plan.

The plans listed above no longer exist as separate plans, but are now a part of the Plan.  Effective December 31, 2005, the Dow AgroSciences LLC Life Insurance Plan was terminated, and the retiree company-paid life insurance portion of that plan was merged into the Plan for those who retired prior to January 1, 2006.

52

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 1.  Retired Salaried Employees and Certain Retired Hourly Employees
ELIGIBILITY
Except for the populations identified under “Exclusions from Eligibility” below, if you are a Retiree and, on the day preceding your Retirement, were enrolled for coverage under a Company-Paid Life Insurance Plan offered under The Dow Chemical Company Group Life Insurance Program, you are eligible for the coverage described below in Coverage Amounts for Eligible Salaried and Hourly Retirees.  In order to be a “Retiree,” you must meet the definition of “Retiree” under the Plan (see the Definitions Appendix, below).
EXCLUSIONS FROM ELIGIBILITY
Section 1 of Chapter One of this SPD does NOT apply to:
		
	•
	Employees who were Hired or re-Hired on or after January 1, 2008;

		
	•
	Former Employees who are eligible for any kind of life insurance coverage available to active employees of a Participating Employer, other than accidental death and dismemberment, business travel or occupational accident insurance, are not eligible under this Plan while they are covered under the active employee coverage (for example, individuals eligible for employee coverage because they are eligible for certain long term disability benefits);

		
	•
	Hourly Employees who retired from Michigan Operations before 2008 (instead, see Section 2 below);

		
	•
	Texas Operations Employees who retired before 2003 (instead, see Section 3 below);

		
	•
	Hampshire Hourly Employees who retired from the Waterloo, NY facility on or after March 1, 1988 through December 31, 1999 (instead, see Section 4 below);

		
	•
	Hampshire Hourly Employees who retired from the Owensboro, KY or Nashua, NH facilities on or after  March 1, 1988 through December 31, 1998 (instead, see Section 5 below);

		
	•
	Retired Split Dollar Participants (instead, see Section 7 below); 

		
	•
	Post-65 Executive Life Insurance Participants (instead, see Section 8 below); 

		
	•
	Union Carbide Employees who retired prior to February 7, 2003 (instead, see Section 9 below);  

		
	•
	Dow AgroSciences Employees who retired before 2006 (instead, see Section 10 below);

		
	•
	Agrigenetics Inc. d/b/a Mycogen Seeds employees who retired before 2011;

		
	•
	Individuals who were employed by a subsidiary, joint venture, or any other business entity or affiliate that was acquired by, formed by, merged with, or created by the Company on or after January 1, 2008, except as provided in the definition of “Hire” or “Hire Date”;

		
	•
	Poly-Carb Inc. and GNS Employees who retire;

		
	•
	Former Employees who terminated employment from a Participating Employer (other than Americas Styrenics) and were subsequently hired by Americas Styrenics who did not have the required amount of Service to be eligible for the Plan at the time of termination of employment from such Participating Employer; 

		
	•
	Former Employees of Americas Styrenics who retire from Americas Styrenics, unless they terminated employment from a Participating Employer prior to working for Americas Styrenics and met the age and service requirements of the Plan when they terminated employment from such Participating Employer;

		
	•
	Individuals who are eligible to participate in the Rohm and Haas Company Retirement Plan, including the Morton International, Inc. Pension Plan for Collectively Bargained Employees.

53

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

ENROLLMENT
Upon Retirement, you may complete enrollment through the Dow Benefits website on My HR Connection or on dowbenefits.ehr.com, with coverage effective immediately.  Failure to enroll for coverage within 31 days after your Retirement will result in automatic enrollment in pre-age 65 coverage, and Plan Option I at age 65.  (Note that Option I requires you to contribute towards the cost of your coverage.)
Note:  After your Retirement, you may decrease your coverage by switching your post-age 65 coverage from Plan Option I to Plan Option II; however, you will not be permitted to upgrade your coverage by switching from Plan Option II to Plan Option I, even with a statement of health.  Contact the Dow Retiree Service Center for more information about switching coverage.
You may waive coverage.  If you want to waive coverage, you must provide written notification to North America Benefits.  If you waive coverage, either before or after age 65, you waive coverage permanently.  You may not re-enroll at any time in the future. 

COVERAGE AMOUNTS FOR ELIGIBLE SALARIED AND HOURLY RETIREES
Coverage Prior to Age 65  
Until you reach age 65, you will be provided with coverage equal to one times (1x) your base annual salary at time of Retirement, rounded up to the next $1,000, plus $5,000.1  Currently, the Company pays the cost of this coverage.
Coverage Age 65 or older
There are two plan options available to Retirees age 65 and older.  Plan Option I requires a monthly Retiree contribution.  Currently, Plan Option II is provided at no cost to you.  
Plan Option I: Beginning on the first day of the month following your 65th birthday, your life insurance will equal 1x your base annual salary at time of Retirement (a special rule for Retirees from Americas Styrenics is in footnote 1), rounded up to the next $1,000.  At age 66, your coverage amount is reduced 20 percent (of the original amount) each year until age 68.  At age 68 and beyond, your coverage amount is equal to one-half your base annual salary.  In any year, the minimum coverage under Plan Option I is $10,000.  The following chart summarizes the insurance coverage for Retirees electing Plan Option I:

	
		
	Age
	Coverage Amount

	65
	1x base annual salary ($10,000 minimum)

	66
	80% of benefit at age 65 ($10,000 minimum)

	67
	60% of benefit at age 65 ($10,000 minimum)

	68+
	50% of benefit at age 65 ($10,000 minimum)

1 In general, your coverage amounts are based on your base annual salary at the time of your Retirement.  However, if you Retire from Americas Styrenics (and you met the eligibility requirements for this Plan at the time you left your prior Participating Employer), the applicable salary for determining your coverage is your salary at the time you left your prior Participating Employer.  For example, assume that you worked for The Dow Chemical Company immediately prior to beginning employment with Americas Styrenics, and your base annual salary was $45,000 at The Dow Chemical Company immediately before you left.  The salary that the Plan will use to determine your coverage will be the $45,000 base annual salary at the time you left The Dow Chemical Company, not your salary at Americas Styrenics.

54

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Plan Option II: Beginning on the first day of the month following your 65th birthday, your life insurance will equal 1x your base annual salary at time of Retirement (a special rule for Retirees from Americas Styrenics is in footnote 1), rounded up to the next $1,000.  At age 66, your coverage amount is reduced 20 percent (of the original amount) each year until you reach age 70.  At age 70 and beyond, your coverage amount is $5,000.  In any year, the minimum coverage under Plan Option II is $5,000.  The following chart summarizes the insurance coverage for Retirees electing Plan Option II.
	
		
	Age
	Coverage Amount

	65
	1x base salary ($5,000 minimum)

	66
	80% of benefit at age 65 ($5,000 minimum)

	67
	60% of benefit at age 65 ($5,000 minimum)

	68
	40% of benefit at age 65 ($5,000 minimum)

	69
	20% of benefit at age 65 ($5,000 minimum)

	70+
	$5,000

COST OF COVERAGE 
Currently, Retiree Company-Paid Life Insurance coverage before age 65 is provided at no cost to you.
For post-age-65 coverage, the cost is determined as follows:
		
	•
	Plan Option I: You share the cost of coverage with Dow.  Your cost is based on a rate per $1,000 of coverage and is subject to change based on plan experience.  Your premium payment is deducted, post-tax, from your monthly pension check.  Premiums may vary from year to year.  Premium information is communicated in the annual U.S. Retiree Benefits Enrollment Booklet, and periodically in DowFriends.  You may elect not to have your premium deducted from your pension check by contacting the Dow Retiree Service Center, but if you make such election you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be canceled.

		
	•
	Plan Option II: Currently, coverage is provided at no cost to you. 

Section 2.  Retired Michigan Operations Hourly Employees
ELIGIBILITY
If you were Hired prior to January 1, 2008, you are eligible for the coverage described in this Section 2 if you:
		
	•
	Are a Retired Michigan Operations Hourly Employee who Retired on or after June 1, 1990 but before January 1, 2008, and you were covered under the Company-Paid Life Insurance Plan on the day preceding your Retirement; or

		
	•
	Were a disabled Michigan Operations Hourly Employee who was receiving a disability benefit under the Dow Long Term Disability Program or under the Michigan Division Contract Disability Plan on January 1, 2008, and you Retired after that date without returning to active work, and you were covered under the Company-Paid Life Insurance Plan on the day preceding your Retirement. 

55

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If you were Hired on or after January 1, 2008, you are not eligible for coverage under the Retiree Company-Paid Life Insurance Plan.

COVERAGE AMOUNTS FOR ELIGIBLE MICHIGAN OPERATIONS HOURLY RETIREES
Prior to Age 65 
Until you reach age 65, you will be provided with coverage equal to the amount of coverage you had as an active Hourly Employee under the Company-Paid Life Insurance on the day preceding the date of your Retirement.  
Age 65 or older
On or after your 65th birthday, your Retiree Company-Paid Life Insurance benefits will be determined by applying the appropriate percentage from the following table to the amount of your Retiree Company-Paid Life Insurance in effect on the date preceding your 65th birthday, with a minimum of $5,000.
	
		
	Age
	Coverage Amount

	65
	1⁄2 x  annual pay at time of Retirement ($5,000 minimum)

	66
	80% of benefit at age 65 ($5,000 minimum)

	67
	60% of benefit at age 65 ($5,000 minimum)

	68
	40% of benefit at age 65 ($5,000 minimum)

	69
	20% of benefit at age 65 ($5,000 minimum)

	70+
	$5,000

COST OF COVERAGE
Currently, the Company pays the cost of this coverage.
Section 3.  Retired Texas Operations Employees
Texas Operations Hourly Employees who Retired prior to January 1, 2003, and had Non-Contributory coverage under The Dow Chemical Company Texas Operations Hourly Optional Life Insurance Program are eligible for $10,000 of coverage until age 65.  Coverage is reduced to $5,000 at age 65.  Currently, the Company pays the cost of this coverage.
Section 4.  Retired Hampshire Waterloo Hourly Employees
If you retired from Hampshire Chemical Corporation between March 1, 1988, and January 1, 2000, at age 62 or older and were, while an active employee, represented by the United Steelworkers of America AFL-CIO Local Union #7110, a bargaining unit of Hampshire Chemical Corporation’s Waterloo, NY facility, you are eligible for $5,000 of coverage.  Currently, the Company pays the cost of this coverage.

56

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 5.  Retired Hampshire Owensboro and Nashua Hourly Employees
ELIGIBILITY
If you Retired from Hampshire Chemical Corporation between March 1, 1988, and January 1, 1999, and had five or more years of service with W.R. Grace Company and/or Hampshire Chemical Corporation and were represented while an active employee by either the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers (AFL-CIO) Local Lodge 727 (a bargaining unit at Hampshire Chemical Corporation’s Owensboro, Kentucky facility) or the International Chemical Workers Union Council/UFCW, Local No. 952-C (a bargaining unit at Hampshire Chemical Corporation’s Nashua, New Hampshire facility), you are eligible for the coverage described below in Coverage Amounts for Eligible Hampshire Owensboro and Nashua Hourly Retirees.

COVERAGE AMOUNTS FOR ELIGIBLE HAMPSHIRE OWENSBORO AND NASHUA HOURLY RETIREES.
If you are an eligible Retiree who was represented by the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers (AFL-CIO) Local Lodge 727 (a bargaining unit at Hampshire Chemical Corporation’s Owensboro, Kentucky facility) while you were an active Employee, your coverage is $6,000.
If you are an eligible Retiree who was represented by the International Chemical Workers Union Council/UFCW, Local No. 952-C (a bargaining unit at Hampshire Chemical Corporation’s Nashua, New Hampshire facility) while you were an active Employee, your coverage is $5,000.

COST OF COVERAGE
Currently, the Company pays the cost of this coverage.
Section 6.  Disability Retirees
You are eligible for the coverage described in “Coverage Amounts for Disability Retirees” below, if you were Hired before January 1, 2008, and:
		
	•
	You are receiving a “Disability Retirement Benefit” from the DEPP component of the Dow Employees’ Pension Plan (“DEPP”) (as “Disability Retirement Benefit” is defined in DEPP), you are not a former Texas Operations Hourly Employee who retired prior to January 1, 2003, and you were covered under The Dow Chemical Company Company-Paid Life and/or Employee-Paid Life Insurance Plans on the day preceding your Retirement; or

		
	•
	You are receiving a “Disability Retirement Benefit” from the UCEPP component of the Union Carbide Employees’ Pension Plan (“UCEPP”), you retired on or after February 7, 2003, and you were covered under The Dow Chemical Company Company-Paid Life and/or Employee-Paid Life Insurance Plans on the day preceding your Retirement; 

You are eligible for the coverage described in “Coverage Amounts for Texas Operations Hourly Disability Retirees” below if you are a former Texas Operations Hourly Employee who retired prior to January 1, 2003 receiving a “Disability Retirement Benefit” from the DEPP component of the Dow Employees’ Pension Plan (“DEPP”) (as “Disability Retirement Benefit” is defined in DEPP) and you were covered under the Texas Operations Hourly Contributory Optional Life Insurance Plan on the day preceding your Retirement.  

57

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Please note that this “Disability Retirees” section does not apply to you if you are receiving benefits under a Dow long term disability plan.  If you are receiving long term disability benefits, refer to the SPD for life insurance applicable to active employees, or contact the HR Service Center for more information.
If you were Hired on or after January 1, 2008, you are not eligible for coverage under the Retiree Company-Paid Life Insurance Plan.

COVERAGE AMOUNTS FOR DISABILITY RETIREES
Pre-65 coverage.  If you are a Retiree who is receiving a “Disability Retirement Benefit” from the DEPP or UCEPP, you will be provided the following coverage until you reach age 65:
		
	•
	You will be provided Retiree Company-Paid Life coverage equal to the coverage you had as an active employee.

		
	•
	You will be provided additional coverage equal to 1⁄2x or 1x your base annual pay at time of Retirement (a special rule for Retirees from Americas Styrenics is in footnote 1), rounded up to the next $1,000, if you were previously enrolled for at least that amount of Employee-Paid Life coverage as an active employee.  

Coverage is contingent on you continuing to meet the requirements to receive Disability Retirement Benefits from DEPP or UCEPP, whichever is applicable.  
If your DEPP disability retirement effective date is prior to January 1, 2006 (or your UCEPP disability retirement effective date is on or after February 7, 2003 and prior to January 1, 2006), this coverage is currently provided at no cost to you.  Otherwise, you must pay the same premium that non-disabled retirees pay for pre-65 retiree life insurance coverage.
Coverage Upon Attaining Age 65. If you are (1) receiving Disability Retirement Benefits from DEPP or UCEPP, (2) your DEPP disability retirement effective date was prior to January 1, 2006, or your UCEPP disability retirement effective date is on or after February 7, 2003 and prior to January 1, 2006, (3) you are not a Texas Operations Hourly Employee who began receiving Disability Retirement Benefits from DEPP prior to January 1, 2003, and (4) you were covered under the Dow Company-Paid Life Insurance Plan on the day preceding your Retirement and you enrolled for Option I at time of Retirement, then you are covered under Plan Option I at no cost to you; otherwise if you are a Retiree, you receive the same post-65 coverage as non-disabled post-65 retirees and you must pay the same premium as post-65 non-disabled retirees.  The amounts of coverage are described in “Coverage Age 65 or older” under “Coverage Amounts for Eligible Salaried and Hourly Retirees” in Section 1, above.  Coverage is contingent on you continuing to meet the requirements to receive Disability Retirement Benefits from DEPP or UCEPP.  

COVERAGE AMOUNTS FOR TEXAS OPERATIONS HOURLY DISABILITY RETIREES
Retired Prior to January 1, 1997
If you are a former Texas Operations Hourly Employee who retired prior to January 1, 1997 while receiving a “Disability Retirement Benefit” from the DEPP component of the Dow Employees’ Pension Plan (“DEPP”), as defined under DEPP, and you were covered under the Texas Operations Hourly Contributory Optional Life Insurance Plan coverage on the day preceding your Retirement, you are eligible for the following coverage:
Pre-65 coverage.  Coverage equal to the amount of coverage you had as an active employee under the Texas Operations Hourly Contributory Optional Life Insurance Plan is provided until the first day of the month following your 65th birthday.

58

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Age 65 and older.  If prior to age 65 your coverage amount was equal to or greater than $30,000, coverage will be $25,000 beginning on the first day of the month following your 65th birthday.  The amount of coverage is reduced each year as shown in the table below, with the minimum amount at age 68 of $10,000.  Once coverage is waived or terminated, it cannot be reinstated.
	
				
	Age 65
	$
	25,000
	

	Age 66
	$
	20,000
	

	Age 67
	$
	15,000
	

	Age 68 & After
	$
	10,000
	

If prior to age 65 your coverage amount was less than $30,000, you are not eligible for post-65 coverage.
Retired on or after January 1, 1997 and prior to January 1, 2003
If you are a former Texas Operations Hourly Employee who retired on or after January 1, 1997 and before January 1, 2003, you are receiving a “Disability Retirement Benefit” from the DEPP component of the Dow Employees’ Pension Plan (“DEPP”) (as “Disability Retirement Benefit” is defined therein), and you were covered under the Texas Operations Hourly Contributory Optional Life Insurance Plan coverage on the day preceding your Retirement, then you are eligible for the following coverage:
Pre-65 coverage.  Coverage is provided in increments of $10,000, subject to a minimum of $10,000 and a maximum of either $60,000, or one-half the amount of Optional Contributory coverage in effect on the day preceding your Retirement, whichever is less. Once coverage is waived or terminated, it cannot be reinstated.
Age 65 and older.  If prior to age 65, your coverage amount was equal to or greater than $30,000 coverage will be $25,000 beginning on the first day of the month following your 65th birthday.  The amount of coverage is reduced each year as shown in the table below, with the minimum amount at age 68 of $10,000.  Once coverage is waived or terminated, it cannot be reinstated.
	
				
	Age 65
	$
	25,000
	

	Age 66
	$
	20,000
	

	Age 67
	$
	15,000
	

	Age 68 & After
	$
	10,000
	

If prior to age 65 your coverage amount was less than $30,000, you are not eligible for post-65 coverage.
Section 7.  Retired Split Dollar Participants
A “Retired Split Dollar Participant” is eligible for the coverage described below in Coverage Amount for Eligible Split Dollar Retirees.  A “Retired Split Dollar Participant” is defined as a person who meets one of the following requirements:
		
	1.
	A person who: (a) was a Retiree on or before September 30, 2003, and (b) was enrolled in The Dow Chemical Company Executive Split Dollar Life Insurance Plan on or before September 30, 2003, and (c) signed a waiver of all his or her rights under The Dow Chemical Company Executive Split Dollar Life Insurance Agreement between him or her and The Dow Chemical Company; or

		
	2.
	A person who: (a) was a Retiree on or before October 31, 2003, and (b) was enrolled in the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2003, and (c) for whom the 

59

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Agreement and Collateral Assignment between him or her and Union Carbide Corporation was terminated on or about October 31, 2003, and (d) whose coverage level under the Union Carbide Executive Life Insurance Plan just prior to termination of the Agreement and Collateral Assignment was two times his or her annual salary, for which he or she had to pay a premium; or
		
	3.
	A person who: (a) was an active Employee on September 30, 2002, and (b) was enrolled in The Dow Chemical Company Executive Split Dollar Life Insurance Plan on September 30, 2002, and (c) signed a waiver of all his or her rights under The Dow Chemical Company Executive Split Dollar Life Insurance Agreement between him or her and The Dow Chemical Company, and (d) on the day preceding his or her Retirement, was covered under the Company-Paid Life Insurance Plan component of The Dow Chemical Company Group Life Insurance Program that is available to active Employees, and (e) is now a Retiree; or

		
	4.
	A person who: (a) was an active Employee on or before October 31, 2002, and (b) was enrolled in the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2002, and (c) for whom the Agreement and Collateral Assignment between him or her and Union Carbide Corporation was terminated on or about October 31, 2002, and (d) on the day preceding his or her Retirement, was covered under the Company-Paid Life Insurance Plan component of The Dow Chemical Company Group Life Insurance Program that is available to active Employees, and (e) is now a Retiree; or

		
	5.
	A person who: (a) was an active Employee on October 31, 2003, and (b) was enrolled in the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2003, and (c) for whom the Agreement and Collateral Assignment between him or her and Union Carbide Corporation was terminated on or about October 31, 2003, and (d) whose coverage level under the Union Carbide Executive Life Insurance Plan just prior to termination of the Agreement and Collateral Assignment was two times his or her annual salary, for which he or she had to pay a premium, and (e) on the day preceding his or her Retirement, was covered under the Company-Paid Life Insurance Plan component of The Dow Chemical Company Group Life Insurance Program that is available to active Employees, and (f) is now a Retiree; or

		
	6.
	A person who: (a) was a Retiree on or before October 31, 2003, and (b) was enrolled in the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2005, and (c) for whom the Agreement and Collateral Assignment between him or her and Union Carbide Corporation was terminated on or about October 31, 2005, and (d) whose coverage level under the Union Carbide Executive Life Insurance Plan just prior to termination of the Agreement and Collateral Assignment was two times his or her annual salary, for which he or she had to pay a premium, or

		
	7.
	A person who is not described in paragraph (6) above, and (a) was a Retiree on or before October 31, 2003, and (b) was enrolled in the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2005, and (c) for whom the Agreement and Collateral Assignment between him or her and Union Carbide Corporation was terminated on or about October 31, 2005.  

ENROLLMENT
Retired Split Dollar Participants who were active Employees at the time their split dollar agreement was terminated are required to enroll for coverage at the time they Retire.  Failure to enroll within 31 days of Retirement will result in automatic enrollment at the same coverage level you had as an active Employee under Company-Paid Life Insurance (1x coverage).

60

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

COVERAGE AMOUNT FOR ELIGIBLE SPLIT DOLLAR RETIREES 
Except for a person described in paragraph (7) above, a Retired Split Dollar Participant has 1 times (1x) his or her final annual salary at the time of Retirement, which continues until the participant’s death.  
With respect to a Retired Split Dollar Participant described in paragraph (7) above, if the Retired Split Dollar Participant’s coverage under the Union Carbide Corporation Executive Life Insurance Plan on October 31, 2005 was:
		
	•
	1 times his or her final annual salary at Union Carbide, the amount of coverage under the Plan shall equal 1 times the participant’s final annual salary at Union Carbide.

		
	•
	40 percent of his or her final annual salary at Union Carbide, the amount of coverage under the Plan shall equal 40 percent of the participant’s final annual salary at Union Carbide.

		
	•
	2 times his or her final annual salary at Union Carbide, the amount of coverage under the Plan shall equal 2 times the participant’s final annual salary at Union Carbide.

If the Retired Split Dollar Participant elects to waive coverage under the Plan, he or she will not be allowed to re-enroll in the future.
COST OF COVERAGE
Currently, the Company pays the cost of this coverage.
Section 8.  Post-65 Executive Life Insurance Participants
A “Post-65 Executive Life Insurance Participant” is a person who was notified prior to 1989 of their eligibility for Post-65 Executive Life Insurance, who subsequently retired and completed a Post-65 Executive Life Insurance election form, and did not later enroll in The Dow Chemical Company Executive Split Dollar Life Insurance Plan.
ENROLLMENT
Post-65 Executive Life Insurance Coverage is closed to new enrollments.
COVERAGE AMOUNT FOR POST-65 EXECUTIVE LIFE INSURANCE PARTICIPANTS 
Effective with their 65th birthday, a Post-65 Executive Life Insurance Participant has coverage equal to two times (2x) their final pay; provided that the total amount of coverage will not exceed $2 million.  This coverage will continue until death, as long as the required premiums are paid.
COST
Currently, the cost of this coverage is shared by the Retiree and the Company.  The Retiree’s monthly contribution, which is based on 1x of coverage, currently is $1.62 per thousand dollars of coverage.  Premiums are subject to change.  If your premiums are not automatically deducted from payments from the Dow Employees’ Pension Plan (“DEPP”), you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be canceled.
END OF COVERAGE
You will retain a one-time option to discontinue coverage described in this Section 8 and obtain coverage applicable to a Retiree of like age under the Retiree Company-Paid Life Insurance Plan described under Section 1.  However, there will be no refund of premiums paid for Post-65 Executive Life Insurance Coverage.

61

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 9.  Retired Union Carbide Employees
If you Retired from Union Carbide prior to February 7, 2003, you may be covered under The Dow Chemical Company Group Life Insurance Program’s Union Carbide Subsidiary Basic Life Insurance Plan.  You are not eligible for coverage under The Dow Chemical Company Group Life Insurance Program’s Company-Paid Life Insurance Plan. 
Section 10.  Retired Dow AgroSciences Employees
If you retired prior to January 1, 2006 under the Dow AgroSciences Pension Plan, you are eligible for coverage equal to one times (1x) your annual base salary at time of your retirement, rounded up to the next $1,000, until you reach age 66.  At age 66, coverage will decrease 20% each year (of the age 65 amount) until you either reach age 70 or until the coverage amount is reduced to $10,000, whichever occurs first.  Currently, the Company pays the cost of this coverage.  Coverage for Retired Dow AgroSciences Employees under this section is closed to new enrollments.
Section 11.  General Eligibility Information
Additional special eligibility rules may apply for certain other retiree populations (for example, as a result of mergers and acquisitions or other unusual situations).  These special rules are in the Plan Document for The Dow Chemical Company Group Life Insurance Program (ERISA Plan #507), which you may request from the Plan Administrator.
The Claims Administrator for Claims for an Eligibility Determinations determines eligibility to participate in the Plan.  The Claims Administrator is a Plan fiduciary and has the full discretion to interpret the provisions of the Plan and to make findings of fact.  Interpretations and eligibility determinations by the Claims Administrator are final and binding on Participants (except to the extent that determinations by the Initial Claims Reviewer are subject to review by the Appeals Administrator).
If you want to file a Claim for an Eligibility Determination because you are not sure whether you are eligible to participate in the Plan or have been told that you are not, you must follow the procedures described in the Claims Procedures Appendix.
You may waive coverage.  If you want to waive coverage, you must provide written notification to North America Benefits in a form and manner acceptable to North America Benefits.  If you waive coverage, you waive all future rights to re-enroll for coverage.
Section 12.  Tax Consequences of Company-Paid Coverage
Except for Retired Split Dollar Participants and Post-65 Executive Life Insurance Participants, current Internal Revenue Code rules permit the Company’s cost for the first $50,000 of Plan coverage to be excluded from your federal taxable income.  Any portion of the Company’s cost in excess of $50,000 is treated as income to you, called “imputed income.”  The entire cost of life insurance coverage provided to Retired Split Dollar Participants and Post-65 Executive life Insurance Participants is, in most cases, imputed income.  Any imputed income resulting from your life insurance coverage will be reported to the IRS along with your annual pension income information.  The imputed income is determined based on a Uniform Premium Table established by the federal government.

62

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If your Retiree Company-Paid Life coverage exceeds $50,000, and you want to decrease the amount of your coverage to $50,000, you may elect to do so by contacting the Dow Retiree Service Center.  The age 65 and older reduction factors will be applied to the $50,000 amount, instead of the original Retiree Company-Paid Life amount.  Once coverage is reduced, it may not be reinstated.
Section 13.  Naming Your Beneficiary
You must designate a beneficiary by registering your beneficiary information with MetLife at www.MetLife.com/MyBenefits, or by mailing the appropriate beneficiary form to the MetLife Recordkeeping Center.  MetLife became the record keeper for Retiree Life Insurance beneficiary designations effective June 1, 2008.  Beneficiary information previously recorded at the Dow Benefits Center was not transferred to MetLife, so you should submit the appropriate form to MetLife even if you submitted one to Dow before June 1, 2008.
If you do not submit a beneficiary designation to MetLife in the form and manner required by MetLife while you are living, your Retiree Company-Paid Life Insurance benefit will be paid to the person you designated under the active employee Company-Paid Life Insurance Plan.  If you did not designate a beneficiary under the active employee Company-Paid Life Insurance Plan, MetLife may determine the beneficiary to be any one or more of the following who survive you:
		
	•
	Your Spouse or Domestic Partner; 

		
	•
	Your child(ren);

		
	•
	Your parent(s); 

		
	•
	Your sibling(s).

Alternatively, instead of making payment to any of the above, MetLife may pay your estate.  Your failure to designate a beneficiary may delay the payment of funds.
If you wish to change your beneficiary designation, or need to register for the first time, you can do so via the Internet at www.MetLife.com/MyBenefits or www.dowfriends.com.  If you prefer, you can request forms by calling MetLife Customer Service toll-free at (866) 492-6983, Monday through Friday, from 8:00 am to 11:00 pm (ET).  A life event (such as marriage/domestic partnership, divorce/ termination of domestic partnership, etc.) may signal a need to change your beneficiary, but a life event will not automatically change your beneficiary. 
Any beneficiary designation or change to a beneficiary designation will not be recognized if it is delivered to MetLife after your death.  A beneficiary designation may not be changed by will or other contract (such as a prenuptial agreement), except as permitted under the terms of the beneficiary designation or to the extent required by a domestic relations order issued by a court that MetLife determines meets MetLife’s requirements.  If your designated beneficiary is a person other than a trustee and you and your designated beneficiary die under circumstances in which it is not clear who died first, the designated beneficiary will be deemed to have predeceased you.
Section 14.  To Receive a Benefit Payment 
In the event of your death, your beneficiary should contact the Dow Retiree Service Center at (800)-344-0661.  The beneficiary on record must complete and sign a claim form to receive benefits.  A certified death certificate that states the cause of death must be provided to MetLife in order to disburse the life insurance proceeds.  See Claims Procedures Appendix of this SPD.

63

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If the Administrator determines that your beneficiary is not physically or mentally capable of receiving or acknowledging receipt of benefits under the Plan, the Administrator may make benefit payments to the court-appointed legal guardian of your beneficiary, to an individual who has become the legal guardian of your beneficiary by operation of state law, or to another individual whom the Administrator determines in it sole discretion is the appropriate person to receive such benefits on behalf of the beneficiary.
Section 15.  Accelerated Benefit Option (ABO)
Under the Accelerated Benefit Option (“ABO”), if you have been diagnosed as terminally ill with 12 months or less to live,2 you may be eligible to receive up to 80% of your Retiree Company-Paid Life Insurance and Retiree Optional Life Insurance benefits before your death if certain requirements are met.  Having access to life proceeds at this important time could help ease financial and emotional burdens.  In order to apply for the ABO, you must be covered for at least $10,000 from your Retiree Company-Paid Life Insurance and/or Retiree Optional Life Insurance.  You may receive an accelerated benefit of up to 80 percent (with a minimum of $5,000 and up to a maximum of $500,000) of your Retiree Company-Paid Life Insurance benefit, Retiree Optional Life Insurance benefit, or both.  The accelerated benefit is payable in a lump sum and can be elected only once for each eligible coverage.  Any death benefit will be reduced by the amount of any accelerated benefit paid.  Accelerated benefits are not permitted if you have assigned your life insurance benefit to another individual or to a trust.
The ABO is intended to qualify for favorable tax treatment under the Internal Revenue Code such that the benefits will be excludable from your income and not subject to federal taxation.  Payment of the accelerated benefit  may be subject to state taxes and restrictions.  Tax laws relating to accelerated benefits are complex.  You are advised to consult with a qualified tax advisor, and neither the Plan nor the Company or any Participating Employer makes any assertion or warranty about the tax treatment of Plan benefits.
Receipt of accelerated benefits may affect your eligibility, or that of your spouse/domestic partner or your family, for public assistance programs such as medical assistance (Medicaid), Aid to Families and Dependent Children (AFDC), Supplemental Security Income (SSI), and drug assistance programs.  You are advised to consult with social services agencies concerning the effect receipt of accelerated benefits may have on public assistance eligibility for you, your spouse/domestic partner, or your family.  In the event your life insurance coverage ends or is reduced in the future, the amount of coverage you may be eligible to convert or port will be reduced by the amount of the accelerated benefit received.
If you would like to apply for the Accelerated Benefit Option, a claim form can be obtained from the Dow Retiree Service Center at 800-344-0661 and must be completed and returned for evaluation and approval by MetLife.
Section 16.  Funding
The Plan is funded by an insurance policy underwritten by Metropolitan Life Insurance Company (“MetLife”).
Except for Plan Option I and in certain other cases indicated above (e.g. Post-65 Executive Life Insurance), the Participating Employers currently pay the entire cost of coverage under the Plan.  For Plan Option I, the Retiree and the Participating Employer share the cost.  

2 For Texas residents, the requirement is 24 months or less to live.

64

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 17.  Your Rights
You have certain rights under the Plan and are entitled to certain information by law.  Be sure to review Chapter Four of this SPD, which contains the Filing a Claim and Appealing the Denial of a Claim section, Fraud Against the Plan section, Your Legal Rights section,  Plan Administrator’s Discretion section, Welfare Benefits section, Dow’s Right to Terminate or Amend the Programs and Plans section, Disposition of Plan Assets if the Plan is Terminated section, Litigation and Class Action Lawsuits section, and the For More Information section; and the ERISA Information section at the end of this SPD.
Section 18.  Ending Coverage
Your Retiree Company-Paid Life Insurance coverage ends on the earliest of:
		
	•
	The date the Group Policy ends;

		
	•
	The date that the Plan terminates;

		
	•
	The date you no longer meet the eligibility requirements of the Plan; 

		
	•
	The date you elect to terminate your coverage; or

		
	•
	The date that you fail to pay the applicable premium.

Section 19.  Converting to an Individual Policy
If your Company-Paid Life Insurance coverage under the Plan ends because you no longer meet the eligibility requirements of the Plan, your coverage may be converted to an individual non-term policy through MetLife.  The maximum amount of insurance that may be elected for the new policy is the amount of Company-Paid Life Insurance in effect for you under the Plan on the date you no longer meet the eligibility requirements of the Plan.
If your Plan coverage ends because Dow terminates the Company-Paid Life Insurance coverage under the MetLife group life insurance policy, or Dow amends the Plan to exclude coverage for your eligible group, you may convert your Company-Paid Life Insurance coverage to an individual non-term MetLife policy; provided you have been covered under the Plan for at least 5 years immediately prior to losing coverage under the Plan.  The amount you may convert is limited to the lesser of: 
		
	•
	the amount of Company-Paid Life Insurance for you that ends under the Group Policy, less the amount of life insurance for which you become eligible under any group policy within 31 days after the date insurance ends under the Group Policy; or  

		
	•
	$2,000.

You must file a conversion application with MetLife and make the required premium payment to MetLife within 31 days of the date your Dow coverage is lost.  Contact the Dow Retiree Service Center to obtain a form for converting your coverage.  Once you have obtained the form, contact the MetLife Conversion Group at (877) 275-6387 to file your form, or to obtain further information.  You are responsible for initiating the conversion process within the appropriate timeframes.  
The cost of this individual coverage will probably be significantly higher than your group plan.  Although not required, completing and submitting a statement of health may help reduce your cost.  

65

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Chapter Two:  Retiree Optional Life Insurance Plan
Chapter Two of this SPD describes The Retiree Optional Life Insurance Plan (referred to in this chapter of the SPD as the “Plan”).  The following groups of retirees are eligible for coverage under the Plan:
		
	•
	Section 1 applies to Retired Salaried Employees and Certain Retired Hourly Employees

		
	•
	Section 2 applies to Retired Michigan Operations Hourly Retirees who retired before 2008

		
	•
	Section 3 applies to Retired Texas Operations Hourly Employees who retired before 2003

		
	•
	Section 4 applies to Retired Hampshire Waterloo Hourly Employees who retired before 2000

		
	•
	Section 5 applies to Disability Retirees

		
	•
	Section 6 applies to Retired Split Dollar Participants

		
	•
	Section 7 applies to Certain Union Carbide Retirees who retired prior to February 7, 2003

		
	•
	Section 8 applies to Retired Employees of Dow AgroSciences LLC who retired before 2006

The remaining sections of Chapter Two apply to all persons eligible for coverage under the Plan
As of January 1, 2005, the following plans were merged into the Plan: 
		
	•
	The Dow Chemical Company Texas Operations Hourly Optional Life Insurance Program’s Retiree Optional Life Insurance Plan; 

		
	•
	Hampshire Chemical Corporation Hourly Optional Group Life Insurance Program’s Pre-65 Retiree Optional Life Insurance Plan; 

		
	•
	Hampshire Chemical Corporation Hourly Optional Group Life Insurance Program’s Retiree Optional Life Insurance plan (Waterloo); and 

		
	•
	ANGUS Chemical Company Hourly Optional Group Life Insurance Program’s Pre-65 Retiree Optional Life Insurance Plan.   

The plans listed above no longer exist as separate plans, but are now a part of the Plan.  Effective December 31, 2005, the Dow AgroSciences LLC Life Insurance Plan was terminated, and the optional retiree life insurance portion of that plan was merged into the Plan for those who retired prior to January 1, 2006.  Effective January 1, 2008, the Midland and Ludington Hourly Pre-65 Retiree Optional Life Insurance Plan was merged into the Plan for those who retired prior to June 1, 1990, and for those who retired on or after June 1, 1990 provided that their Hire Date was prior to January 1, 2008.  Group Policies 11700-G-09 and 11700-G-67 for the Michigan Hourly Optional Life Insurance Program were merged into 11700-G. 
Section 1.  Retired Salaried Employees and Certain Retired Hourly Employees 
ELIGIBILITY
Except for those populations identified under “Exclusions from Eligibility,” below, if you are a Retiree who is less than age 65 and, on the day preceding your Retirement, you were enrolled for coverage under an Employee-Paid Life Insurance Plan sponsored by a Participating Employer, you are eligible for the coverage described below in Optional Coverage Amounts for Eligible Salaried and Hourly Retirees without completing and submitting a statement of health.  If you were not enrolled in Employee-Paid Life Insurance Plan coverage on the day preceding your Retirement, completing and submitting a statement of health is required.  In order to be a “Retiree,” you must meet the definition of “Retiree” under the Plan (see the Definitions Appendix, below).

66

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

EXCLUSIONS FROM ELIGIBILITY
Section 1 of Chapter Two of this SPD does NOT apply to:
		
	•
	Employees who were Hired or rehired on or after January 1, 2008;

		
	•
	Former Employees who are eligible for any kind of life insurance coverage available to active employees of a Participating Employer, other than accidental death and dismemberment, business travel or occupational accident insurance (for example, individuals eligible for employee coverage because they are eligible for certain long term disability benefits).  Such employees are not eligible under this Plan while they are covered under the active employee coverage;

		
	•
	Hourly Employees who retired from Michigan Operations before 2008 (instead, see Section 2, below);

		
	•
	Texas Operations Employees who retired before 2003 (instead, see Section 3, below);

		
	•
	Hampshire Hourly Employees who retired from the Waterloo, NY facility on or after March 1, 1988 through December 31, 1999 (instead, see Section 4, below);

		
	•
	Hampshire Hourly Employees who retired from the Owensboro, KY or Nashua, NH facilities on or after March 1, 1988 through December 31, 1998, are not eligible for this Plan;

		
	•
	Retired Split Dollar Participants (instead, see Section 6, below); 

		
	•
	Union Carbide Employees who retired prior to February 7, 2003 (instead, see Section 7, below);

		
	•
	Dow AgroSciences employees who retired before 2006 (instead, see Section 8, below);

		
	•
	Agrigenetics Inc. d/b/a Mycogen Seeds employees who retired prior to January 1, 2011 are not eligible for this Plan;

		
	•
	Individuals who were employed by a subsidiary, joint venture, or any other business entity or affiliate that was acquired by, formed by, merged with, or created by the Company on or after January 1, 2008, except as provided in the definition of “Hired” or “Hire Date”, are not eligible for this Plan;

		
	•
	Poly-Carb Inc. and GNS Employees who retire;

		
	•
	Former Employees who terminated employment from a Participating Employer (other than Americas Styrenics) and were subsequently hired by Americas Styrenics who did not have the required amount of Service to be eligible for the Plan at the time of termination of employment from such Participating Employer;

		
	•
	Former Employees of Americas Styrenics who retire from Americas Styrenics, unless they terminated employment from a Participating Employer prior to working for Americas Styrenics and met the age and service requirements of the Plan when they terminated employment from such Participating Employer; or

		
	•
	Individuals who are eligible to participant in the Rohm and Haas Company Retirement Plan, including the Morton International, Inc. Pension Plan for Collectively Bargained Employees.

ENROLLMENT
If you wish to enroll in the Plan, you must complete an enrollment form or complete enrollment through the Dow Benefits website on My HR Connection or on dowbenefits.ehr.com within 31 days of your Retirement.  Your Retiree Optional Life coverage will be effective immediately.  Failure to enroll within 31 days after your Retirement will result in waiver of your coverage (and to re-enroll, you will be required to submit a statement of health, as described below).
If you want coverage but were not previously enrolled in Employee Paid Life Insurance as an active employee, you also must complete and submit a statement of health form through the Dow Benefits website.  The form can be found on My HR Connection or on dowbenefits.ehr.com.  If you do not have internet access, you can obtain a statement of health form from MetLife’s Statement of Health Unit at 800-638-6420.  This proof may require a physical examination, at your expense.  MetLife will pay for the fee of a paramedical exam, if requested by MetLife, with no cost to you when a MetLife physician is used.

67

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

You may decrease or cancel your coverage at any time by contacting the Dow Retiree Service Center.  
If you wish to enroll at a later date or increase your coverage amount, completing and submitting a statement of health will be required.

OPTIONAL COVERAGE AMOUNTS AND COSTS FOR ELIGIBLE SALARIED AND HOURLY RETIREES 
You may purchase coverage equal to either 1⁄2x or 1x your base annual salary at Retirement,3 rounded up to the next $1,000.  Pre-65 Retiree Optional rates are age-related rates.  Premium information is communicated annually by the Plan Administrator.  Premiums are subject to change.  If your premiums are not automatically deducted from payments from the Dow Employees’ Pension Plan, or the Union Carbide Employees’ Pension Plan, you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be canceled. 
If you were previously enrolled for an amount that is less than you enroll for at Retirement, you must also complete and submit a statement of health.

END OF COVERAGE
Coverage ends at the end of the month in which you reach age 65.  Coverage ends earlier than age 65 if you cancel coverage or fail to pay the required premiums or the Plan or Group Policy is terminated.
Section 2.  Retired Michigan Operations Hourly Employees
ELIGIBILITY
If you are a Retired Michigan Operations Hourly Employee who is less than 65 years of age and you Retired on or after June 1, 1990, but prior to January 1, 2008, you are eligible for Pre-65 Retiree Optional Life Insurance coverage under the Plan.  If you were enrolled in the Employee-Paid Life Insurance Plan on the day preceding your Retirement, you are eligible for continued coverage under this Plan until you reach age 65.  If you were not previously enrolled, you must complete and submit a statement of health to participate in the Plan. 
If (1) you were a disabled Michigan Operations Hourly Employee who was receiving a disability benefit under the Dow Long Term Disability Program or under the Michigan Division Contract Disability Plan on January 1, 2008, (2) you Retired after January 1, 2008, without returning to active work, and (3) you were covered under the Employee-Paid Life Insurance Plan on the day preceding your Retirement, you are eligible for continued coverage under this Plan until you reach age 65.

3 In general, your coverage amounts are based on your base annual salary at the time of your Retirement.  However, if you Retire from Americas Styrenics (and you met the eligibility requirements for this Plan at the time you left your prior Participating Employer), the applicable salary for determining your coverage is your salary at the time you left your prior Participating Employer.  For example, assume that you worked for The Dow Chemical Company immediately prior to beginning employment with Americas Styrenics, and your base annual salary was $45,000 at The Dow Chemical Company immediately before you left.  The salary that the Plan will use to determine your coverage will be the $45,000 base annual salary at the time you left The Dow Chemical Company, not your salary at Americas Styrenics.

68

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

COVERAGE LEVELS
At Retirement, you may purchase coverage equal to either 1⁄2x, 1x or 11⁄2x your base annual hourly rate on the previous December 1, rounded up to the next $1,000.  If you were enrolled for a lesser amount of coverage under the Employee-Paid Life Insurance Plan immediately before Retirement, a statement of health will be required.

COST
Your premium for Pre-65 Retiree Optional Life Insurance is based on your age and the amount of coverage you select.  Premiums are subject to change.
Your premiums are deducted post-tax from your monthly pension check.  If your premiums are not automatically deducted from pension payments from the Dow Employees’ Pension Plan (DEPP), you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be canceled.
If (1) you are receiving a “Disability Retirement Benefit” from the Dow Employees’ Pension Plan (as “Disability Retirement Benefit” is defined therein), (2) your disability retirement effective date was before January 1, 2006, and (3) you were enrolled in Employee-Paid Life Insurance Plan on the day preceding your Retirement, your premium is paid by Dow.
Section 3.  Retired Texas Operations Employees
RETIRED ON OR AFTER OCTOBER 1, 1992 BUT BEFORE JANUARY 1, 2003    
Texas Operations Hourly Employees who Retired on or after October 1, 1992 but prior to January 1, 2003, and were enrolled on the day preceding their Retirement in the Optional Life Insurance Plan of The Dow Chemical Company Texas Operations Hourly Optional Life Insurance Program are eligible for the coverage described below.
Retirees Less than Age 65.  Coverage could be purchased in increments of $10,000, subject to a minimum of $10,000 and a maximum of the lesser of:
		
	•
	$60,000; or 

		
	•
	one-half the amount of Optional Contributory coverage you had in effect on the day preceding your Retirement.

Once coverage is waived or terminated, it cannot be reinstated.
Retirees Age 65 or Older.  If you carried coverage equal to or greater than $30,000 prior to age 65, you had the option to purchase coverage equal to $25,000 beginning on the first day of the month following your 65th birthday. The amount of insurance is reduced each year as shown in the table below with the minimum amount at age 68 and thereafter of $10,000.  Once coverage is waived or terminated, it cannot be reinstated.  
	
				
	Age 65
	$
	25,000
	

	Age 66
	$
	20,000
	

	Age 67
	$
	15,000
	

	Age 68 & After
	$
	10,000
	

Your premium for Retiree Optional Life Insurance is based on the amount of coverage you select. Your premiums are deducted post-tax from your monthly pension check. Premiums are subject to change.  If your 

69

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

premiums are not automatically deducted from pension payments, you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be cancelled.

RETIRED PRIOR TO OCTOBER 1, 1992 
Texas Operations Hourly Employees who Retired prior to October 1, 1992, and were enrolled on the day preceding their Retirement in the Optional Life Insurance Plan of The Dow Chemical Company Texas Operations Hourly Optional Life Insurance Program are eligible for the coverage described below.
Retirees Less than Age 65.  Coverage could be purchased for half the amount of coverage you had as an active Employee under the Optional Contributory plan, up to $25,000 until age 65.  Once coverage is waived or terminated, it cannot be reinstated.
Retirees Age 65 or Older.  Your option to purchase coverage for after age 65 depends on the amount of coverage that you carried before age 65.
If you carried coverage equal to or greater than $30,000 prior to age 65, you had the option to purchase coverage equal to $25,000 beginning on the first day of the month following your 65th birthday. The amount of insurance is reduced each year as shown in the table below with the minimum amount at age 68 and thereafter of $10,000.  Once coverage is waived or terminated, it cannot be reinstated.  
	
				
	Age 65
	$
	25,000
	

	Age 66
	$
	20,000
	

	Age 67
	$
	15,000
	

	Age 68 & After
	$
	10,000
	

If you carried coverage equal to $20,000 prior to age 65, you had the option to purchase coverage equal to $20,000 beginning on the first day of the month following your 65th birthday.  The amount of insurance is reduced each year as shown in the table below with the minimum amount at age 68 and thereafter of $10,000.  Once coverage is waived or terminated, it cannot be reinstated.  
	
				
	Age 65
	$
	20,000
	

	Age 66
	$
	20,000
	

	Age 67
	$
	15,000
	

	Age 68 & After
	$
	10,000
	

Your premium for Retiree Optional Life Insurance is based on the amount of coverage you selected.  Premiums are subject to change.  Your premiums are deducted post-tax from your monthly pension check.  If your premiums are not automatically deducted from pension payments from the Dow Employees’ Pension Plan (DEPP), formerly known as the Dow Employee Retirement Plan (ERP), you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be cancelled.
Section 4.  Retired Hampshire Waterloo Hourly Employees
If (1) you retired from Hampshire Chemical Corporation on or after March 1, 1988, and before January 1, 2000, at age 55 or older, (2) you were represented while an active employee by the United Steelworkers of America AFL-CIO Local Union #7110, a bargaining unit of Hampshire Chemical Corporation’s Waterloo, 

70

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

NY facility, and (3) you were enrolled in Hampshire Chemical Corporation’s supplemental employee paid life insurance coverage on the day preceding your retirement, then you are eligible for the amount of optional life insurance you had on the day preceding your retirement:  either $2,500, $5,000, $7,500, or $13,000, as applicable.  You are required to pay the premiums for this coverage.  Premiums are subject to change.  If your premiums are not automatically deducted from your pension payments, you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be cancelled.
Section 5.  Disability Retirees
You are eligible for the coverage described in “Coverage Amounts for Disability Retirees” below, if you were Hired before January 1, 2008, and:
		
	•
	You are receiving a “Disability Retirement Benefit” from the DEPP component of the Dow Employees’ Pension Plan (“DEPP”) (as “Disability Retirement Benefit” is defined therein), you are not a former Texas Operations Hourly Employee who retired prior to January 1, 2003, and you were covered under The Dow Chemical Company Employee-Paid Life Insurance Plan on the day preceding your Retirement; or

		
	•
	You are receiving a “Disability Retirement Benefit” from the UCEPP component of the Union Carbide Employees’ Pension Plan (“UCEPP”) (as “Disability Retirement Benefit” is defined therein), you retired on or after February 7, 2003, and you were covered under The Dow Chemical Company Employee-Paid Life Insurance Plan on the day preceding your Retirement.

If you were Hired on or after January 1, 2008, you are not eligible for coverage.
Please note that this “Disability Retirees” section does not apply to you if you are receiving benefits under a Dow long term disability plan.  If you are receiving long term disability benefits, refer to the SPD for life insurance applicable to active employees, or contact the HR Service Center for more information.

COVERAGE AMOUNTS FOR DISABILITY RETIREES
Pre-65 coverage
Disability retirement on or after January 1, 2006:  Effective January 1, 2006, if you are a disability retiree under DEPP or UCEPP, and your disability retirement effective date is on or after January 1, 2006, your eligibility, coverage amounts and costs are the same as for Retirees who are not receiving a “Disability Retirement Benefit” under DEPP or UCEPP.  See Chapter Two, Section 1 of this SPD.
Disability retirement prior to January 1, 2006:  See Chapter One, Section 6 of this SPD, which describes coverage available at no cost to you.
Age 65 and older
Disability retirement on or after January 1, 2006:   Effective January 1, 2006, if you are a disability retiree under DEPP or UCEPP and your disability retirement effective date is on or after January 1, 2006, your eligibility, coverage amounts and costs are the same as for Retirees who are not receiving a “Disability Retirement Benefit” under DEPP or UCEPP.
Disability retirement prior to January 1, 2006:  See Chapter One, Section 6 of this SPD, which explains that you may be covered under Plan Option 1 after you reach age 65, and this coverage is provided at no cost to you.

71

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 6.  Retired Split Dollar Participants
Except for those described in Section 7, paragraph (7) of Chapter One in this SPD (for The Retiree Company-Paid Life Insurance Plan), Retired Split Dollar Participants are eligible for 1x Split Dollar Equivalent Coverage if they elected to purchase the 1x Employee-paid or Retiree-paid split dollar replacement coverage (“1x Split Dollar Equivalent Coverage”) at the time it was offered to them when their split dollar agreements were terminated, and they continue to pay the premiums for that coverage.  For the definition of “Retired Split Dollar Participants” see Chapter One, Section 7. Retired Split Dollar Participants.  Retired Split Dollar Participants described in Section 7, paragraph (7) of Chapter One are not eligible for coverage under the Retiree Optional Life Insurance Plan.

ENROLLMENT
Retired Split Dollar Participants who were active Employees at the time their split dollar agreement was terminated are required to submit an enrollment form at the time they Retire.  Failure to return the form within 31 days of Retirement will result in automatic enrollment in the 1x Split Dollar Equivalent Coverage.  If the Retired Split Dollar Participant waived the 1x Split Dollar Equivalent Coverage at the time the split dollar agreement was terminated, or if such coverage was waived or cancelled after the split dollar agreement was terminated, you may not subsequently enroll for such coverage at any time.

COST OF COVERAGE
Retired Split Dollar Participants pay the premium for 1x Split Dollar Equivalent Coverage.  Premiums are subject to change. If your premiums are not automatically deducted from payments from the Dow Employees’ Pension Plan or the Union Carbide Employees’ Pension Plan, you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be cancelled. 

COVERAGE LEVELS
Coverage is 1x of your final annual salary rounded up to the next $1,000.  

END OF COVERAGE
1x Split Dollar Equivalent Coverage ends if you cancel coverage or fail to pay the required premiums or if Dow terminates the Plan or the coverage.
Section 7.  Retired Union Carbide Employees
If you are a Retired Union Carbide employee who Retired before February 7, 2003, you may be covered under The Dow Chemical Company Group Life Insurance Program’s Union Carbide Subsidiary Basic Life Insurance Plan.  You are not eligible for coverage under the Plan.
Section 8.  Retired Dow AgroSciences Employees
If you are a Retired Dow AgroSciences employee who Retired before January 1, 2006 under the Dow AgroSciences Pension Plan and was enrolled in supplemental coverage (1x, 2x, 3x, or 4x) under the Dow AgroSciences LLC Life Insurance Plan as an active Employee on the day preceding your retirement, you 

72

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

were permitted to purchase supplemental life insurance coverage equal to one times your annual base salary at the time of your Retirement.  You are required to pay the premiums for this coverage.  Premiums are age-related and subject to change.  If your premiums are not automatically deducted from payments from your pension, you must pay your premiums within 31 days of your bill.  If your payment is not postmarked within 31 days of your bill, your coverage will be cancelled. 
Coverage ends at the end of the month in which you reach age 65.  Coverage ends earlier than age 65 if you cancel coverage or fail to pay the required premiums or if the Plan or Group Policy is terminated.
Section 9.  General Eligibility Information
Additional special eligibility rules may apply for certain other retiree populations (for example, as a result of mergers and acquisitions or other unusual situations).  These special rules are in the Plan Document for The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program, which you may request from the Plan Administrator.
The Claims Administrator for Eligibility Determinations determines eligibility to participate in the Plan.  The Claims Administrator is a Plan fiduciary and has the full discretion to interpret the provisions of the Plan and to make findings of fact.  Interpretations and eligibility determinations by the Claims Administrator are final and binding on Participants (except to the extent that determinations by the Initial Claims Reviewer are subject to review by the Appeals Administrator).
If you want to file a Claim for an Eligibility Determination because you are not sure whether you are eligible to participate in the Plan or have been told that you are not, you must follow the procedures described in the Claims Procedures Appendix.
Section 10.  Naming Your Beneficiary
You must designate a beneficiary by registering your beneficiary information with MetLife at www.MetLife.com/MyBenefits, or by mailing the appropriate beneficiary form to the MetLife Recordkeeping Center.  MetLife became the record keeper for Retiree Life Insurance beneficiary designations effective June 1, 2008.  Beneficiary information previously recorded at the Dow Benefits Center was not transferred to MetLife, so you should submit the appropriate form to MetLife even if you submitted one to Dow before June 1, 2008.
If you do not submit a beneficiary designation to MetLife in the form and manner required by MetLife while you are living, your Retiree Optional Life Insurance benefit will be paid to the beneficiary you designated under the Employee-Paid Life Insurance Plan, or if none, to the beneficiary you designated under the Retiree Company-Paid Life Insurance Plan, or if none, the active employee Company-Paid Life Insurance Plan.  If you did not name a beneficiary under those plans, MetLife may determine the beneficiary to be any one or more of the following who survive you:
		
	•
	Your Spouse or Domestic Partner; 

		
	•
	Your child(ren); 

		
	•
	Your parent(s); 

		
	•
	Your sibling(s).

Alternatively, instead of making payment to any of the above, if you did not name a beneficiary under the Plan or the other plans listed above, MetLife may pay your estate.  Your failure to designate a beneficiary may delay the payment of funds.

73

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If you wish to change your beneficiary designation, you can do so via the Internet at www.MetLife.com/MyBenefits or www.dowfriends.com.  If you prefer, you can request forms by calling MetLife Customer Service toll-free at (866) 492-6983, Monday through Friday, from 8:00 am to 11:00 pm (ET).  A life event (such as Marriage/Domestic Partnership, divorce/termination of Domestic Partnership, etc.) may signal a need to change your beneficiary, but a life event will not automatically change your beneficiary. 
Any beneficiary designation or change to a beneficiary designation will not be recognized if it is delivered to MetLife after your death.  A beneficiary designation may not be changed by will or other contract (such as a prenuptial agreement), except as permitted under the terms of the beneficiary designation or to the extent required by a domestic relations order issued by a court that MetLife determines meets MetLife’s requirements.  If your designated beneficiary is a person other than a trustee and you and your designated beneficiary die under circumstances in which it is not clear who died first, the designated beneficiary will be deemed to have predeceased you.
Section 11.  To Receive a Benefit Payment 
In the event of your death, your beneficiary should contact the Dow Retiree Service Center.  A certified death certificate that states the cause of death must be provided to MetLife in order to disburse the life insurance proceeds (if any).  See Claims Procedures Appendix of this SPD.  Contact the Dow Retiree Service Center at 800-344-0661.  
If the Administrator determines that your beneficiary is not physically or mentally capable of receiving or acknowledging receipt of benefits under the Plan, the Administrator may make benefit payments to the court-appointed legal guardian of your beneficiary, to an individual who has become the legal guardian of your beneficiary by operation of state law, or to another individual whom the Administrator determines in its sole discretion is the appropriate person to receive such benefits on behalf of the beneficiary.
Section 12.  Accelerated Benefit Option (ABO) 
Under the Accelerated Benefit Option (“ABO”), if you have been diagnosed as terminally ill with 12 months or less to live,4 you may be eligible to receive up to 80% of your Retiree Company-Paid Life Insurance and Retiree Optional Life Insurance benefits before your death if certain requirements are met.  Having access to life proceeds at this important time could help ease financial and emotional burdens.  In order to apply for the ABO, you must be covered for at least $10,000 from your Retiree Company-Paid Life Insurance benefit, Retiree Optional Life Insurance, or both.  You may receive an accelerated benefit of up to 80 percent (with a minimum of $5,000 and up to a maximum of $500,000) of your Retiree Company-Paid Life Insurance and/or Retiree Optional Life Insurance benefit.  The accelerated benefit is payable in a lump sum and can be elected only once for each eligible coverage.  Any death benefit will be reduced by the amount of accelerated benefit paid.  Accelerated benefits are not permitted if you have assigned your life insurance benefit to another individual or to a trust.  
The ABO is intended to qualify for favorable tax treatment under the Internal Revenue Code such that the benefits will be excludable from your income and not subject to federal taxation. Payment of the accelerated benefit may be subject to state taxes and restrictions.  Tax laws relating to accelerated benefits are complex.  You are advised to consult with a qualified tax advisor, and neither the Plan nor the Company or any Participating Employer make an assertion or warranty about the tax treatment of Plan benefits.  

4 For Texas residents, the requirement is 24 months or less to live.

74

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Receipt of accelerated benefits may affect your eligibility, or that of your spouse/domestic partner or your family, for public assistance programs such as medical assistance (Medicaid), Aid to Families and Dependent Children (AFDC), Supplemental Security Income (SSI), and drug assistance programs.  You are advised to consult with social services agencies concerning the effect receipt of accelerated benefits will have on public assistance eligibility for you, your spouse/domestic partner, or your family.  In the event your life insurance coverage ends or is reduced in the future, the amount of coverage you may be eligible to convert or port will be reduced by the amount of the accelerated benefit received.
If you would like to apply for the Accelerate Benefit Option, a claim form can be obtained from the Dow Retiree Service Center at 800-344-0661 and must be completed and returned for evaluation and approval by MetLife.
Section 13.  Will Preparation Service
If you elect Retiree Optional Life Insurance coverage, you are eligible for a will preparation service available through Hyatt Legal Plans, Inc. (“Hyatt”), a MetLife company.  This service is available to you while your Retiree Optional Life Insurance coverage is in effect.  The will preparation service is offered at no cost to you if you use an attorney designated by Hyatt.  If you have a will prepared by an attorney not designated by Hyatt, you must pay for the attorney’s services directly.  You may receive a partial reimbursement for the amount you paid to the attorney if you provide proof of will service and payment satisfactory to Hyatt.  The amount reimbursable is the amount customarily reimbursed for such services by Hyatt.  Call 800-821-6400 Monday through Friday, from 8:00 am to 7:00 pm (ET) for more information.  A Client Services Representative will ask you to provide your Company Name and Group Number, which are: 
		
	•
	Company Name:       The Dow Chemical Company 

		
	•
	Group Number:        11700 

Section 14.  Estate Resolution Service
If you elect Retiree Optional Life Insurance coverage, you are eligible for an estate resolution service available through Hyatt Legal Plans, Inc. (“Hyatt”), a MetLife company.  This service is available if you die while your Retiree Optional Life Insurance coverage is in effect.  The estate resolution service provides a Hyatt in-network attorney to your administrator or executor in order to probate your estate.  Probate advice is also available to beneficiaries, regardless of whether they are the executor/administrator.  This service is provided at no cost to your beneficiaries, administrator, executor, or estate if they use a Hyatt in-network attorney.
Your beneficiaries and/or executor/administrator may choose to use an attorney who does not participate in the Hyatt network.  If an out-of-network attorney is chosen, they must pay for that attorney’s services directly.  They may receive a partial reimbursement for the amount paid to the attorney if they provide proof of estate resolution service and payment satisfactory to Hyatt.  The amount reimbursable is the amount customarily reimbursed for such services by Hyatt.  To access this service, beneficiaries and/or executors/administrators should call Hyatt at 800-821-6400 Monday through Friday from 8:00 am to 7:00 pm (ET). 
The following  are not covered by this service: matters in which there is a conflict of interest between the executor, administrator, any beneficiary or heir and the estate; any disputes with the Company, Participating Employer, Hyatt attorneys, MetLife and/or any of its affiliates; any disputes involving statutory benefits (such as Social Security, unemployment, or workers’ compensation benefits); will contests or litigation outside probate court; appeals; court costs, filing fees, recording fees, transcripts, witness fees, expenses to a third party, judgments or fines; and frivolous or unethical matters.  

75

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 15.  Funding
The Plan is funded by an insurance policy underwritten by Metropolitan Life Insurance Company (“MetLife”).    
Except for certain cases indicated above, Retirees pay the entire premium for coverage.  
Section 16.  Your Rights
You have certain rights under the Plan and are entitled to certain information by law.  Be sure to review Chapter Four of this SPD, which contains the Filing a Claim and Appealing the Denial of a Claim section, Fraud Against the Plan section, Your Legal Rights section,  Plan Administrator’s Discretion section, Welfare Benefits section, Dow’s Right to Terminate or Amend the Programs and Plans section, Disposition of Plan Assets if the Plan is Terminated section, Litigation and Class Action Lawsuits section, and the For More Information section; and the ERISA Information section at the end of this SPD.
Section 17.  Ending Coverage
Your Retiree Optional Life Insurance coverage ends on the earliest of:
		
	•
	The date the Group Policy ends;

		
	•
	The date the Plan is terminated;

		
	•
	The date you no longer meet the eligibility requirements of the Plan; 

		
	•
	The last day of the applicable period for which you pay the applicable premium; or

		
	•
	The date you elect to terminate your coverage.

Section 18.  Porting Coverage to a Term Life Policy 
When your Retiree Optional Life Insurance Plan coverage ends, your coverage may be continued on a direct bill basis with MetLife through the portability feature.  This feature allows Retirees to continue their Group Term Life coverage under a separate group policy without completing and submitting a statement of health.  Rates for this coverage are different from the retiree plan rates, and the retiree must port a minimum of $20,000 to exercise this option. You have 31 days from the date your coverage ends to apply for portability.  You may continue the same or a lesser amount of coverage.  If you are unable to continue your entire life insurance amount through portability, you may apply for Conversion of the balance.  Contact MetLife at 866-492-6983 if you have any questions or want to apply for portability. 
Section 19.  Converting to an Individual Policy
If your Retiree Optional Life Insurance coverage under the Plan ends or decreases because you no longer meet the eligibility requirements of the Plan, you may convert the coverage you lost to an individual non-term policy through MetLife.  The maximum amount of insurance that may be elected for the new policy is the amount of Retiree Optional Life Insurance in effect for you under the Plan on the date you no longer meet the eligibility requirements under the retiree optional life insurance provisions provided under the MetLife group policy.  

76

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If your coverage under the MetLife group policy ends because the Company terminates its Group Policy with MetLife or amends the eligibility requirements of the Plan to exclude your work group from eligibility for retiree optional life coverage, you may convert your Retiree Optional Life Insurance coverage to an individual non-term policy through MetLife; provided you have been covered under the retiree optional life provisions of the MetLife group policy for at least 5 years immediately prior to losing group coverage.  The amount you may convert will be limited to the lesser of: 
		
	•
	the amount of life insurance that ends under the MetLife Group Policy, less the amount of life insurance  for which you become eligible under any other group policy within 31 days after the date your  insurance ends under the MetLife Group Policy; or

		
	•
	$2,000.

You must file a conversion application with MetLife within 31 days of the date your Dow coverage is lost or decreases.  Contact the Dow Retiree Service Center to obtain a form for converting your coverage.  Once you have obtained the form, contact the MetLife Conversion Group at 877-275-6387 to file your form, or to obtain further information.  You are responsible for initiating the conversion process within the appropriate timeframes.
The cost of this individual coverage will probably be significantly higher than your group plan.  Although not required, completing and submitting a statement of health may help reduce your cost. 

77

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Chapter Three: Retiree Dependent Life Insurance Plan
Chapter Three of this SPD describes The Retiree Dependent Life Insurance Plan (referred to in this chapter of the SPD as the “Plan”):
		
	•
	Section 1 applies to Retired Salaried Employees and Certain Retired Hourly Employees.

		
	•
	The remaining sections of Chapter Three apply to all persons eligible for coverage under the Plan.

As of January 1, 2005, the following plans were merged into the Plan: 
		
	•
	The Dow Chemical Company Texas Operations Hourly Optional Life Insurance Program’s Retiree Dependent Life Insurance Plan; 

		
	•
	Hampshire Chemical Corporation Hourly Optional Group Life Insurance Program’s Retiree Dependent Life Insurance Plan; and 

		
	•
	ANGUS Chemical Company Hourly Optional Group Life Insurance Program’s Retiree Dependent Life Insurance Plan.

The plans listed above no longer exist as separate plans, but are now a part of the Plan.  Effective January 1, 2008, the Midland and Ludington Hourly Pre-65 Retiree Dependent Life Insurance Plan was merged into the Plan for those who retired prior to June 1, 1990, and for those who retired on or after June 1, 1990 provided that their Hire Date was prior to January 1, 2008.
Section 1.  Retired Salaried Employees and Certain Retired Hourly Employees 
ELIGIBILITY
Except for those populations identified under “Exclusions from Eligibility,” below, if you are a Retiree and, on the day preceding Retirement, were enrolled as an active Employee in a Dependent Life Insurance Plan sponsored by a Participating Employer, you are eligible under the Plan for continued coverage for your Spouse of Record/Domestic Partner of Record and/or Dependent children who were covered under the active employee plan.  In order to be a “Retiree,” you must meet the definition of “Retiree” under the Plan (see the Definitions Appendix, below).  If you are a Retired Michigan Hourly Employee you must also have Retired on or after January 1, 1990 in order to be eligible for this Plan.
If your Spouse of Record/Domestic Partner of Record is eligible to participate in any dependent life insurance plan sponsored by a Participating Employer, either as a Dow Employee or Retiree, each of you may insure the other but only one of you may enroll for coverage for your dependent children.  Double coverage is not allowed.
See Section 3, Dependent Eligibility for who may be covered as a Dependent.

EXCLUSIONS FROM ELIGIBILITY
Section 1 of Chapter Three of this SPD does NOT apply to:
		
	•
	Employees who were Hired or re-Hired on or after January 1, 2008;

		
	•
	Former Employees who are eligible for any kind of life insurance coverage available to active employees of a Participating Employer, other than accidental death and dismemberment, business travel or occupational accident insurance (for example, individuals eligible for employee coverage because they are eligible for certain long term disability benefits).  Such employees are not eligible under this Plan while they are covered under the active employee coverage;

78

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

		
	•
	Hampshire Hourly Employees who retired from the Waterloo, NY facility on or after March 1, 1988 through December 31, 1999;

		
	•
	Hampshire Hourly Employees who retired from the Owensboro, KY or Nashua, NH facilities on or after March 1, 1988 through December 31, 1998;

		
	•
	Texas Hourly Employees who retired prior to October 1, 1989; 

		
	•
	Union Carbide Employees who retired prior to January 1, 20025; 

		
	•
	Dow AgroSciences Employees who retired prior to January 1, 2006;

		
	•
	Agrigenetics Inc. d/b/a Mycogen Seeds employees who retired prior to January 1, 2011;

		
	•
	Individuals who were employed by a subsidiary, joint venture, or any other business entity or affiliate that was acquired by, formed by, merged with, or created by the Company on or after January 1, 2008, except as provided in the definition of “Hire” or “Hire Date”;

		
	•
	Poly-Carb Inc. and GNS Employees who retire;

		
	•
	Former Employees who terminated employment from a Participating Employer (other than Americas Styrenics) and were subsequently hired by Americas Styrenics who did not have the required amount of Service to be eligible for the Plan at the time of termination of employment from such Participating Employer;

		
	•
	Former Employees of Americas Styrenics who retire from Americas Styrenics, unless they terminated employment from a Participating Employer prior to working for Americas Styrenics and met the age and service requirements of the Plan when they terminated employment from such Participating Employer; or

		
	•
	Individuals who are eligible to participant in the Rohm and Haas Company Retirement Plan, including the Morton International, Inc. Pension Plan for Collectively Bargained Employees.

ENROLLMENT
If you wish to enroll in the Plan, you must complete the Dependent Life Insurance section of the Retiree enrollment form, or complete enrollment through the Dow Benefits website on My HR Connection or on dowbenefits.ehr.com within 31 days of your Retirement.  Your continuation coverage will be effective immediately.  Failure to enroll within 31 days after your Retirement will result in waiver of coverage.
If you waive coverage when you Retire, you waive all future rights to participate in the Plan.
DEPENDENT COVERAGE AMOUNTS FOR ELIGIBLE SALARIED AND HOURLY RETIREES 
Spouse of Record/Domestic Partner of Record:  If your Spouse of Record/Domestic Partner of Record was covered under your Dependent Life Insurance Plan on the day preceding your Retirement, you may continue coverage equal to the following amount:
		
	•
	$5,000; or, 

		
	•
	if you Retired on or after December 31, 2013, $10,000 or $15,000;  

provided in each case, however, that the amount of coverage you choose may not be any more than the amount of coverage you had for your Spouse of Record/Domestic Partner of Record under the Dependent Life Insurance Plan on the day preceding your Retirement.

5 Between January 1, 2002 and February 7, 2003, participants of The Dow Chemical Company Group Life Insurance Program’s Union Carbide Subsidiary Basic Life Insurance Plan were offered dependent spouse coverage under The Dow Chemical Company Retiree Dependent Life Insurance Plan.

79

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Dependent Children:  For any Dependent child who was covered under your Dependent Life Insurance Plan on the day preceding your Retirement, you may continue coverage equal to $1,000, as long as he or she continues to meet eligibility requirements.
COST
You must pay the premium for coverage.  Your premium for Retiree Dependent Life Insurance is based on the option that you select.  Premiums are subject to change, according to Plan experience.  If your premiums are not automatically deducted from payments from the Dow Employees’ Pension Plan or the Union Carbide Employees’ Pension Plan, you must pay your premium within 31 days of your bill.  If your payment is not postmarked within 31 days after your bill, your coverage will be cancelled.
Section 2.  General Eligibility Information
Additional special eligibility rules may apply for certain other retiree populations (for example, as a result of mergers and acquisitions or other unusual situations).  These special rules are in the Plan Document for The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program, which you may request from the Plan Administrator.
The Claims Administrator for Eligibility Determinations determines eligibility to participate in the Plan.  The Claims Administrator is a Plan fiduciary and has the full discretion to interpret the provisions of the Plan and to make findings of fact.  Interpretations and eligibility determinations by the Claims Administrator are final and binding on Participants (except to the extent that determinations by the Initial Claims Reviewer are subject to review by the Appeals Administrator).
If you want to file a Claim for an Eligibility Determination because you are not sure whether you are eligible to participate in the Plan or have been told that you are not, you must follow the procedures described in the Claims Procedures Appendix.
Section 3.  Dependent Eligibility
You may purchase coverage on the life of your Spouse of Record/Domestic Partner of Record and/or the life of your Dependent child or Dependent children.  
In general, Dependent child means your natural child, adopted child (including a child from the date of placement with the adopting parents until the legal adoption) or stepchild (including the child of your Domestic Partner of Record); who, in each case, is under age 26, unmarried, and supported by you.  For Texas residents, the term also includes your grandchild(ren), if they are able to be claimed by you as a dependent for federal income tax purposes.  
This term does not include any person who is:
		
	•
	insured under the group policy as an employee;

		
	•
	covered as a dependent of another Dow Employee or Dow Retiree (all covered children in a family must be enrolled by the same parent); or

		
	•
	age 26 years or older. 

A Dependent Spouse, Domestic Partner, or child is not eligible if he or she is in the military.

80

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 4.  Beneficiary of Coverage
You are the beneficiary of your coverage under the Plan.  This cannot be changed.  The benefits will be paid to you if you survive the Dependent.  
If you do not survive your Dependent, MetLife may pay any one or more of the following who survive you:
		
	•
	Your Spouse or Domestic Partner; 

		
	•
	Your child(ren); 

		
	•
	Your parent(s); 

		
	•
	Your sibling(s).

Alternatively, instead of making payment to any of the above, MetLife may pay your estate.  Any payment made by MetLife in good faith will discharge the Plan’s and MetLife’s liability to the extent of such payment.
Section 5.  To Receive a Benefit Payment 
In the event of the death of your covered Spouse of Record/Domestic Partner of Record or Dependent child, contact the Dow Retiree Service Center.  A certified death certificate that states the cause of death must be provided to MetLife in order to disburse the life insurance proceeds.  See Claims Procedures Appendix of this SPD.  The benefit will be paid in a lump sum.  Contact the Dow Retiree Service Center at 800-344-0661.  
If the Administrator determines that you or an alternate beneficiary (if you do not survive) is not physically or mentally capable of receiving or acknowledging receipt of benefits under the Plan, the Administrator may make benefit payments to a court-appointed legal guardian for you or your alternate beneficiary, to an individual who has become the legal guardian for you or your alternate beneficiary by operation of state law, or to another individual whom the Administrator determines is the appropriate person to receive such benefits on your or your alternative beneficiary’s behalf.
Section 6.  Funding
The Plan is funded by an insurance policy underwritten by Metropolitan Life Insurance Company (“MetLife”).  Retirees pay the entire premium for coverage.  
Section 7.  Your Rights
You have certain rights under the Plan and are entitled to certain information by law.  Be sure to review Chapter Four of this SPD, which contains the Filing a Claim and Appealing the Denial of a Claim section, Fraud Against the Plan section, Your Legal Rights section,  Plan Administrator’s Discretion section, Welfare Benefits section, Dow’s Right to Terminate or Amend the Programs and Plans section, Disposition of Plan Assets if the Plan is Terminated section, Litigation and Class Action Lawsuits section, and the For More Information section; and the ERISA Information section at the end of this SPD.
Section 8.  End of Coverage
Your Retiree Dependent Life Insurance coverage for any Dependent ends on the earliest of:
		
	•
	The date the Group Policy ends;

		
	•
	The date the Plan is terminated;

		
	•
	The date 31 days following the date of your death;

81

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

		
	•
	The date 31 days following the date you no longer meet the eligibility requirements of the Plan; 

		
	•
	The date 31 days following the date the Spouse of Record/Domestic Partner of Record or Dependent child no longer meet the eligibility requirements of the Plan;

		
	•
	The last day of the applicable period for which you pay the applicable premium; or

		
	•
	The date you elect to terminate coverage for the Spouse of Record/Domestic Partner of Record or Dependent child.

If you choose to terminate your Spouse of Record/Domestic Partner of Record or Dependent child coverage, you must contact the Dow Retiree Service Center.  If you terminate coverage, you may not re-enroll in the future.
If your Spouse of Record/Domestic Partner of Record or Dependent child no longer meets the eligibility requirements of the Plan, you must notify the Plan within 90 days; otherwise, the Plan Administrator may treat your failure to report the change as fraud against the Plan.  See Chapter Four, Section 5.  Fraud Against the Plan.  
Section 9.  Converting to an Individual Policy
If your Spouse of Record/Domestic Partner of Record or Dependent child loses coverage because:
		
	•
	of your death, or

		
	•
	he or she no longer meets eligibility requirements, 

their coverage may be converted to an individual non-term policy through MetLife without having to prove insurability.  (In the case of minor children, the parent or legal guardian may act on their behalf.) 
If your Spouse of Record/Domestic Partner of Record or Dependent child loses coverage under the Plan because Dow has cancelled the dependent life coverage under the group policy with MetLife, or Dow has amended the eligibility requirements of the Plan to exclude you or your dependents from eligibility under the Plan, you may convert coverage to an individual non-term MetLife policy for your Dependent; provided you have been enrolled in coverage for your Dependent under the Plan for at least 5 years immediately prior to the date the MetLife group coverage  for your Dependent ended.  The amount that may be converted is limited to the lesser of: 
		
	•
	the amount of Life Insurance for the Dependent that ends under the MetLife Group Policy, less the amount of life insurance for Dependents for which you become eligible under any group policy within 31 days after the date insurance ends under the Retiree Dependent Life Insurance provisions of the MetLife Group Policy; or

		
	•
	$2,000.

You must file a conversion application with MetLife within 31 days of the date your Dow coverage is lost.  Your Spouse of Record/Domestic Partner of Record or Dependent child’s guardian should contact the Dow Retiree Service Center to obtain a form for converting the coverage.  Once the form has been obtained, he or she should contact the MetLife Conversion Group at 877-275-6387.  You are responsible for initiating the conversion process within the appropriate timeframes.
The cost of this individual coverage will probably be significantly higher than the group plan.  Although not required, completing and submitting a statement of health may help reduce the cost. 

82

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Chapter Four:  General Information Applicable to All of the Plans
Section 1.  Filing a Claim and Appealing a Denial of a Claim
See the Claims Procedures Appendix of this SPD.
Section 2.  Payment of Unauthorized Benefits
If the Plan Administrator determines that benefits in excess of the amount authorized under the Plan were provided to, or on behalf of, a Participant, Dependent, beneficiary, or other person (for example, because benefits were paid even though the individual did not meet applicable eligibility requirements or because the wrong beneficiary was paid):
		
	•
	The amount of any other benefit paid to, or on behalf of, such Participant, Dependent, beneficiary, or other person under the Plan may be reduced by the amount of the excess payment.

		
	•
	The Plan Administrator may require the Participant, Dependent, beneficiary, or other person to reimburse the Plan for benefits paid, including reasonable interest.

		
	•
	If the person does not reimburse the Plan by the date determined by the Plan Administrator, the Plan Administrator may cancel coverage for the Participant and refuse re-enrollment.

		
	•
	The Plan Administrator may elect recoupment or reimbursement, regardless of whether the person who received the excess benefit was a Participant or beneficiary entitled to receive benefits, and regardless of whether the excess benefit was provided by reason of the Plan Administrator’s error or by reason of false, misleading, or inaccurate information furnished by the Participant, beneficiary, or any other person.

For excess payments to beneficiaries, the Plan Administrator may elect to pursue any of the above remedies directly against the Retiree or his estate.
Section 3.  Assignment
You may make an assignment, or legal transfer, of the ownership of your Company-Paid or Retiree Optional Life Insurance to any person you choose, or to a trust.  Consult your financial advisor for more information.  Such assignment must be made in the form and manner acceptable to the Plan Administrator. 
Section 4.  Tax Consequences of Coverage and Benefits
The tax consequences of Company-Paid Life Insurance coverage are briefly described in Chapter 1, Section 12, above.  Retiree-paid premiums are made on an after-tax basis.  In general, life insurance proceeds are not subject to federal income tax.  However, neither the Plan, nor the Company or any Participating Employer makes any assertion or warranty about the tax treatment of Plan coverage or benefits.  The Participant or Beneficiary, as applicable, shall bear any taxes on Plan benefits, regardless of whether taxes are withheld or withholding is required.

83

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 5.  Fraud Against the Plan
If you intentionally misrepresent information to the Plan, knowingly withhold relevant information from the Plan, or deceive or mislead the Plan, the Plan Administrator may (1) terminate your participation in the Plan and your coverage retroactively from the date deemed appropriate by the Plan Administrator, or prospectively; (2) require you to reimburse the Plan for amounts  paid to you or your beneficiary, including all costs of collection such as attorneys’ fees and court costs; and/or (3) prohibit you from enrolling in the Plan or determine that you are not eligible for coverage under the Plan.  In addition, the Plan and/or Dow may pursue civil and/or criminal action against you or take other legal action.  The employer may terminate your employment.
Section 6.  Your Legal Rights
As a Participant in the Retiree Company-Paid, Retiree Optional or Retiree Dependent Life Insurance Plan(s) (as applicable), you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA).  This law requires that all Plan Participants must be able to:
		
	•
	Examine, without charge, at the Plan Administrator’s office and at other specified locations (such as worksites and union halls), all documents governing the Plan, including insurance contracts, collective bargaining agreements (if applicable), the Plan Documents and the latest annual reports filed with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.  

		
	•
	Obtain, upon written request to the Plan Administrator, copies of all documents governing the operation of the Plan, including insurance contracts, collective bargaining agreements (if applicable), and copies of the latest annual report, the Plan Documents, and an updated Summary Plan Description.  The Plan Administrator may charge a reasonable fee for the copies.

In addition to creating rights for you and all other Plan Participants, ERISA imposes duties on the people who are responsible for operating an employee benefit plan.  The people who operate the Plans, called “fiduciaries” of the Plans, have a duty to act prudently and in the interest of you and other Plan Participants and beneficiaries.
No one, including your employer or any other person, may discharge you, or otherwise discriminate against you in any way, for pursuing a welfare benefit or for exercising your rights under ERISA.  If you have a Claim for Plan Benefits that is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules.
Enforce Your Rights:  Under ERISA, there are steps you can take to enforce the legal rights described above.  For instance, if you request Plan materials and do not receive them within 30 days, you may file suit in a federal court.  In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator.  If you have a Claim for Plan Benefits which is denied or ignored, you may file suit in state or Federal court.  
If it should happen that plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal court.  The court will decide who should pay court costs and legal fees.  If you are successful the court may order the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.

84

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Assistance with your questions:  If you have any questions about the Plan, you should contact the Plan Administrator.  If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C.  20210.  You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration at (866) 444-3272.
Section 7.  Plan Administrator’s Discretion
The Plan Administrators are the Vice President, Human Resources Center of Expertise; Global Benefits Director; Associate Director of North America Benefits; and North America Health and Welfare Plans Leader.  The Company may also appoint other persons, groups of persons, or entities as named fiduciaries of the Plan.  The Plan Administrator, Claims Administrators, and other Plan fiduciaries, each acting individually, have the sole and absolute discretion to interpret the Plan Documents (including this SPD), make determinations, make findings of fact, and adopt rules and procedures applicable to matters they are authorized to decide.  Such interpretations and determinations are conclusive and binding on all persons claiming benefits under, or otherwise having an interest in, the Plans, and if challenged in court, such interpretations and determinations shall not be overturned unless proven to be arbitrary or capricious.  For a detailed description of the Plan Administrator’s and Claims Administrators’ authority, see the Plan Document for the applicable Program.
Section 8.  Plan Document
The Plan will be administered in accordance with its terms.  If the VPHR determines that the applicable Plan Document or this SPD has a drafting error (sometimes called a “scrivener’s error”), the applicable Plan Document or SPD will be applied and interpreted without regard to that error.  The determination of whether there is a scrivener’s error, and how to apply and interpret the Plan in the event of a scrivener’s error, will be made by the VPHR, in the exercise of his best judgment and sole discretion, based on his understanding of Dow’s intent in establishing the Plan and taking into account all evidence (written and oral) that he deems appropriate or helpful.
Section 9.  No Government Guarantee of Welfare Benefits
Welfare benefits, such as the benefits provided by the Plans, are not required to be guaranteed by a government agency.
Section 10.  Dow’s Right to Terminate or Amend the Programs and Plans
The Company reserves the right to amend, modify, or terminate any or all of the Programs and the Plans (including amending the Plan Documents and the SPDs) at any time, for any reason, in its sole discretion, with or without notice, retroactively or prospectively, to the full extent permitted by law.  The procedures for amending, modifying, and terminating the Programs and Plans are set forth in the applicable Plan Document.

85

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

If the Company terminates a Plan, the assets of the Plan, if any, shall be used to: 
		
	•
	provide benefits under the Plan and pay the expenses of administering the Plan; or

		
	•
	provide cash for Participants, in accordance with applicable law.

Section 11.  Litigation and Class Action Lawsuits
LITIGATION
If you wish to file a lawsuit against the Program (a) to recover benefits you believe are due to you under the terms of the Program or any law; (b) to clarify your right to future benefits under the Program; (c) to enforce your rights under the Program; or (d) to seek a remedy, ruling or judgment of any kind against the Program or the Program fiduciaries or parties-in-interest (within the meaning of ERISA) that relates to the Program, you may not file a lawsuit until you have exhausted the claims procedures described in the CLAIMS PROCEDURES APPENDIX  and you must file the suit within the Applicable Limitations Period or your suit will be time-barred.  However, neither this paragraph nor the Applicable Limitations Period applies to a claim governed by section 413 of ERISA.  (A lawsuit against a Plan is considered a lawsuit against the Program of which the Plan is a part, for purposes of this SPD.)
The Applicable Limitations Period is the period ending 120 days after:
		
	1.
	in the case of a claim or action to recover benefits allegedly due to you under the terms of the Program or to clarify your right to future benefits under the terms of the Program, the earliest of:  (a) the date the first benefit payment was actually made, (b) the date the first benefit payment was allegedly due, or (c) the date the Program first repudiated its alleged obligation to provide such benefits;  

		
	2.
	in the case of a claim or action to enforce an alleged right under the Program (other than a claim or action to recover benefits), the date the Program first denied your request to exercise such right; or

		
	3.
	in the case of any other claim or action, the earliest date on which you knew or should have known of the material facts on which the claim or action is based, regardless of whether you were aware of the legal theory underlying the claim or action.

If a lawsuit is filed on behalf of more than on individual, the Applicable Limitations Period applies separately with respect to each individual.
A Claim for Plan Benefits or an appeal of a complete or partial denial of a Claim for Plan Benefits, as described in the claims and appeals sections, generally falls under (1) above.  Please note, however, that if you have a timely Claim pending before the Initial Claims Reviewer or a timely appeal pending before the Appeals Administrator when the Applicable Limitations Period would otherwise expire, the Applicable Limitations Period will be extended to the date that is 60 calendar days after the Appeals Administrator renders its final decision.
The Applicable Limitations Period replaces and supersedes any limitations period that ends at a later time that otherwise might be deemed applicable under any state or federal law.  The Applicable Limitations Period does not extend any limitations period under state or federal law.  The VPHR may, in his discretion, extend the Applicable Limitations Period upon a showing of exceptional circumstances, but such an extension is at the sole discretion of the VPHR and is not subject to review.

86

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

CLASS ACTION LAWSUITS
Legal actions against the Program must be filed in U.S. federal court.  Class action lawsuits must be filed in either (1) the jurisdiction in which the Program is principally administered (currently the Northern Division of the United States District Court for the Eastern District of Michigan) or (2) the jurisdiction in the United States of America where the largest number of putative members of the class reside (or, if that jurisdiction cannot be determined, the jurisdiction in which the largest number of class members is reasonably believed to reside).
If any putative class action is filed in a jurisdiction other than one of those described above, or if any non-class action filed in such a jurisdiction is subsequently amended or altered to include class action allegations, then the Program, all parties to such action that are related to the Program (such as a Program fiduciary, administrator or party in interest), and all alleged Participants must take all necessary steps to have the action removed to, transferred to, or re-filed in one of the jurisdictions described above. 
This forum selection provision is waived if no party invokes it within 120 days of the filing of a putative class action or the assertion of class action allegations.
This provision does not waive the requirement to exhaust administrative remedies before initiating litigation.
Section 12.  Privilege
If the Company or a Participating Employer (or a person or entity acting on behalf of the Company or a Participating Employer) or an Administrator or other Plan fiduciary (an “Advisee”) engages attorneys, accountants, actuaries, consultants, and other service providers (an “Advisor”) to advise them on issues related to the Plan or the Advisee’s responsibilities under the Plan:
		
	•
	the Advisor’s client is the Advisee and not any Retiree, Participant, Dependent, beneficiary, claimant, or other person;

		
	•
	the Advisee shall be entitled to preserve the attorney-client privilege and any other privilege accorded to communications with the Advisor, and all other rights to maintain confidentiality, to the full extent permitted by law; and

		
	•
	no Retiree, Participant, Dependent, beneficiary, claimant or other person shall be permitted to review any communication between the Advisee and any of its or his Advisors with respect to whom a privilege applies, unless mandated by a court order.

Section 13.  Waiver
A term, condition, or provision of the Plan shall not be waived unless the purported waiver is in writing signed by the Plan Administrator.  A written waiver shall operate only as the specific term, condition, or provision waived and shall remain in effect only for the period specifically stated in the waiver.
Section 14.  Notices
No notice, election or communication in connection with the Plan that you, a beneficiary, or other person makes or submits will be effective unless duly executed and filed with the appropriate Administrator (including any of its representatives, agents, or delegates) in the form and manner required by the appropriate Administrator.

87

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

Section 15.  For More Information
If you have questions about Plan benefits or enrollment, contact the Dow Retiree Service Center, The Dow Chemical Company, Employee Development Center, Midland, Michigan  48674; Phone (800) 344-0661.

	
	
	IMPORTANT NOTE

	This booklet is the Summary Plan Description (“SPD”) for The Dow Chemical Company Group Life Insurance Program’s Retiree Company-Paid Life Insurance Plan, The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program’s Retiree Optional Life Insurance Plan, and The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program’s Retiree Dependent Life Insurance Plan.  However, this booklet is not all-inclusive and it is not intended to take the place of the Plan Documents for the Programs.  In case of any conflict between this SPD and the applicable Plan Document, the applicable Plan Document will govern.
The Dow Chemical Company reserves the right to amend, modify or terminate the Programs (including amending the Plan Documents and the SPDs) at any time in its sole discretion.
The Plan Documents are available for our review upon written request to the Plan Administrator.  The SPD and the Program do not constitute a contract of employment. Your employer retains the right to terminate your employment or otherwise deal with your employment as if this SPD and the Program had never existed.

88

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

ERISA Information
	
			
	 
	Chapter 1:
The Dow Chemical Company Group Life Insurance Program’s Retiree Company-Paid Life Insurance Plan
	Chapter 2 and Chapter 3:
The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program’s Retiree Optional Life Insurance Plan and Retiree Dependent Life Insurance Plan

	Type of Plan:
	Life insurance

	Type of Plan Administration:
	Insurer administration

	Plan Sponsor:
	The Dow Chemical Company
Employee Development Center
Midland, MI 48674
877-623-8079

	Employer Identification
Number:
	38-1285128

	Plan Number:
	507
	515

	Group Policy Number:
	11700-G

	Plan Administrator:
	North America Health and Welfare Plans Leader
The Dow Chemical Company
Employee Development Center
Midland, MI 48674
877-623-8079

	To Serve Legal Process:
	General Counsel
The Dow Chemical Company
c/o HR Legal Department
2030 Dow Center
Midland, MI 48674

	Claims Administrator for Claims for Eligibility Determination:
	To Submit a Claim for an Eligibility Determination
North America Health and Welfare Plans Leader
The Dow Chemical Company
Employee Development Center
Midland, MI  48674
Attention:  Initial Claims Reviewer for the life insurance plans (Eligibility Determination)

To appeal a denied Claim for an Eligibility Determination:
Associate Director of North America Benefits/ Global Benefits Director
The Dow Chemical Company
Employee Development Center
Midland, MI  48674
Attention: Appeals Administrator for the life insurance plans (Appeal of Eligibility Determination)

	Claims Administrator for Claims for Plan Benefits:
	Metropolitan Life Insurance Company administers claims under a group policy issued to The Dow Chemical Company:
Metropolitan Life Insurance Company
Group Life Claims
P.O. Box 6100
Scranton,  PA  18505

	Plan Year:
	The Plan’s fiscal records are kept on a plan year beginning January 1 and ending December 31.

89

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

	
			
	 
	Chapter 1:
The Dow Chemical Company Group Life Insurance Program’s Retiree Company-Paid Life Insurance Plan
	Chapter 2 and Chapter 3:
The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program’s Retiree Optional Life Insurance Plan and Retiree Dependent Life Insurance Plan

	Funding:
	Benefits under the Plans are funded through a group insurance contract with Metropolitan Life Insurance Company (“MetLife”).  In general, Retirees and Dependents pay the entire premium for coverage under the Retiree Optional Life Insurance Plan and the Retiree Dependent Life Insurance Plan.  Retirees pay a part of the premium for certain coverage under the Retiree Company-Paid Life Insurance Plan, and the Participating Employers pay for all or part of the cost for other coverage under the Retiree Company-Paid Life Insurance Plan.  (The allocation of cost for the Retiree Company-Paid Life Insurance Plan between the Retirees and the Participating Employers is described in greater detail in Chapter 1 above.)  Plan expenses (such as consulting fees, actuarial fees, attorneys' fees, third party administrator fees, and other administrative expenses)  may be paid by the Participating Employers or from the assets of the Plan, if any.

90

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

CLAIMS PROCEDURES APPENDIX
A “Claim” is a written request by a claimant for a Plan Benefit or an Eligibility Determination.  There are two kinds of Claims:
A Claim for Plan Benefits is a request for benefits covered under the Plan.
An Eligibility Determination is a kind of Claim.  It is a request for a determination as to whether a claimant is eligible to be a Participant or covered Dependent under the Plan or as to the amount a claimant must contribute towards the cost of coverage.
You must follow the claims procedures for either CLAIMS FOR PLAN BENEFITS or CLAIMS FOR AN ELIGIBILITY DETERMINATION, whichever applies to your situation.  See applicable sections below.
Who Will Decide Whether to Approve or Deny My Claim?
The Plans have more than one Claims Administrator.  The initial determination is made by the Initial Claims Reviewer.  If you appeal an initial determination, the appellate decision is made by  the Appeals Administrator.  Each of these Claims Administrators is a named fiduciary of the Plans with respect to the respective types of Claims that they process.
Claims for an Eligibility Determination:  The Initial Claims Reviewer is the North America Health and Welfare Plans Leader for The Dow Chemical Company or his delegate.  The Appeals Administrators are the Global Benefits Director and the Associate Director of North America Benefits for The Dow Chemical Company.  
Claims for a Plan Benefit:  The Initial Claims Reviewer and the Appeals Administrator are MetLife.
Authority of the Administrators and Your Rights Under ERISA
The Claims Administrators have the full, complete, and final discretion to interpret the provisions of the Plan Documents and to make findings of fact in order to carry out their respective decision-making responsibilities.  However, the Claims Administrators’ determinations are subject to the interpretations of the Plan Documents made by the Plan Administrator.  Interpretations and Claims decisions by the Claims Administrators are final and binding on Participants (except to the extent the Initial Claims Reviewer is subject to review by the Appeals Administrator).  You may file a civil action against the Plan under section 502 of the Employee Retirement Income Security Act (ERISA) in a federal court, provided you complete the claims procedures described in this Appendix (or the Claims Administrator fails to timely respond to your claim).  If the Claims Administrators’ determinations are challenged in court, they shall not be overturned unless proven to be arbitrary and capricious.  Please see Chapter 4, Section 11.  Litigation and Class Action Lawsuits for the deadline for filing a lawsuit.
An Authorized Representative May Act on Your Behalf
An Authorized Representative may submit a Claim on behalf of a Plan Participant.  The Plan will recognize a person as a Plan Participant’s “Authorized Representative” if such person submits a notarized writing signed by the Participant stating that the Authorized Representative is authorized to act on behalf of such Participant.  A court order stating that a person is authorized to submit Claims on behalf of a Participant will also be recognized by the Plan.

91

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

HOW TO FILE A CLAIM FOR PLAN BENEFITS
For Claims for Plan Benefits, the claimant must call the Dow Retiree Service Center at (800) 344-0661 to report the death.  Dow will contact MetLife on your behalf and you will receive the appropriate Claimant Statement forms and instructions directly from MetLife.  In addition, a certified death certificate (i.e., a death certificate that is certified by the government authority, as exhibited by a “raised seal” on the certificate) that states the cause of death is required.  If you need help completing the MetLife Claimant Statement, you may request assistance from MetLife Group Claims at (800) 638-6420, during the hours of 8:00 AM-5:00 PM Monday through Friday.
HOW TO FILE A CLAIM FOR AN ELIGIBILITY DETERMINATION 
For Claims for an Eligibility Determination the Claim must be in writing and contain the following information:
		
	•
	The name of the Retiree (or other former Employee), and the name of the person (Retiree, Spouse of Record/Domestic Partner of Record, Dependent child, as applicable) for whom the eligibility determination is being requested

		
	•
	The name of the plan for which the eligibility determination is being requested

		
	•
	If the eligibility determination is being requested for the Employee’s dependent:

		
	•
	a description of the relationship of the dependent to the Employee (e.g., Spouse of Record/Domestic Partner of Record, Dependent child, etc.)

		
	•
	documentation of such relationship (e.g., marriage certificate/statement of Domestic Partnership, birth certificate, etc.)

Claims for Eligibility Determinations must be filed with:
North America Health and Welfare Plans Leader 
The Dow Chemical Company 
Employee Development Center 
Midland, MI  48674 
Attention: Initial Claims Reviewer for the life insurance plans (Eligibility Determination)
INITIAL DETERMINATIONS
If you submit a Claim for Plan Benefits, you must do so before the end of the year in which you seek a benefit.  If you submit a Claim for an Eligibility Determination, you must do so before the end of the year in which you seek enrollment or for which you claim that you were charged an incorrect premium.  The Initial Claims Reviewer will review your Claim and notify you of its decision to approve or deny your Claim.  Such notification will be provided to you in writing within a reasonable period, not to exceed 90 days after the date you submitted your claim; except that under special circumstances, the Initial Claims Reviewer may have up to an additional 90 days to provide you such written notification.  If the Initial Claims Reviewer needs such an extension, it will notify you prior to the expiration of the initial 90-day period, state the reason why such an extension is needed, and state when it will make its determination.  
If the applicable Initial Claims Reviewer denies the Claim, the written notification of the Claims decision will state the reason(s) why the Claim was denied and refer to the pertinent Plan provision(s).  If the Claim was denied because you did not file a complete Claim or because the Initial Claims Reviewer needed additional information, the Claims decision will state that as the reason for denying the Claim and will explain why such information was necessary.  The decision will also describe the appeals procedures (also described below).

92

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

APPEALING THE INITIAL DETERMINATION
If the Initial Claims Reviewer has denied your Claim, in whole or in part, you may appeal the decision.  If you appeal the Initial Claims Reviewer’s decision, you must do so in writing within 60 days of receipt of the Initial Claims Reviewer’s determination, assuming that there are no extenuating circumstances, as determined by the Appeals Administrator.  Your written appeal must include the following information:
		
	•
	the name of the Employee;

		
	•
	the name of Dependent or beneficiary, if the Dependent or beneficiary is the person who is appealing the Administrator’s decision;

		
	•
	the name of the Plan (i.e., the Retiree Company- Paid Life Insurance Plan, the Retiree Optional Life Insurance Plan or the Retiree Dependent Life Insurance Plan);

		
	•
	reference to the Initial Determination; and

		
	•
	an explanation of the reason why you are appealing the Initial Determination.

Appeals of Claims for an Eligibility Determination should be sent to:
Associate Director of North America Benefits or the Global Benefits Director 
The Dow Chemical Company 
Employee Development Center 
Midland, MI  48674 
Attention: Appeals Administrator for the life insurance plans (Appeal of Eligibility Determination)
Appeals of Claims for Plan Benefit should be sent to:
Metropolitan Life Insurance Company 
Group Life Claims 
P.O. Box 6100 
Scranton,  PA  18505 
Attention: Claims Administrator for the life insurance plans of The Dow Chemical Company and certain of its subsidiaries (Appellate Review)
You may submit any additional information to the Appeals Administrator when you submit your request for appeal.  You may also request that the Administrator provide you copies of documents, records and other information that is relevant to your Claim, as determined by the Appeals Administrator in its sole discretion.  Your request must be in writing.  Such information will be provided at no cost to you. 
After the Appeals Administrator receives your written request to appeal the initial determination, the Appeals Administrator will review your Claim.  Deference will not be given to the initial adverse decision, and the Appeals Administrator will look at the Claim anew.  The Appeals Administrator will notify you in writing of its final decision.  Such notification will be provided within a reasonable period, not to exceed 60 days of the written request for appellate review; except that under special circumstances, the Appeals Administrator may have up to an additional 60 days to provide written notification of the final decision.  If the Appeals Administrator needs such an extension, it will notify you prior to the expiration of the initial 60-day period, state the reason why such an extension is needed, and state when it will make its determination.  If an extension is needed because the Appeals Administrator determines that it does not have sufficient information to make a decision on the Claim, it will describe any additional material or information necessary to submit to the Appeals Administrator, and provide you with the deadline for submitting such information.

93

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

The period for deciding your Claim may, in the Appeals Administrator’s sole discretion, be tolled until the date you respond to a request for information.  If you do not provide the information by the deadline, the Appeals Administrator will decide the Claim without the additional information.
The Appeals Administrator will notify you in writing of its decision.  If your claim is denied, in full or part, the written notification of the decision will state (1) the reason(s) for the denial; (2) refer to the specific provisions in the Plan Document on which the denial is based; (3) that you are entitled to receive upon request and free of charge reasonable access to and copies of all documents, records, and other information relevant to your claim (as determined by the Claims Administrator under applicable federal regulations); and (4) that you have a right to bring a civil action under section 502 of ERISA.

94

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

DEFINITIONS APPENDIX
Additional terms are defined in the Plan Documents.
“Administrator” means either the Plan Administrator or the Claims Administrator.
“Appeals Administrator” with respect to reviewing an adverse Claim for Benefits, means MetLife.  The Appeals Administrators with respect to reviewing an adverse Claim for an Eligibility Determination are the Global Benefits Director and the Associate Director of North America Benefits for The Dow Chemical Company. 
“Claim” means a written request by a claimant for a Plan benefit or for an eligibility determination that contains at a minimum, the information described in the Claims Procedures Appendix.
“Claim for an Eligibility Determination” means a Claim requesting a determination as to whether a claimant is eligible to participate in the Plan or as to the amount a claimant must contribute towards the cost of coverage.
“Claim for Plan Benefits” means a Claim requesting that the Plan pay for benefits covered under the Plan.
“Claims Administrator” means either the Initial Claims Reviewer or the Appeals Administrator, depending on the context in which the term is used.  
“Code” means the Internal Revenue Code of 1986, as amended.
“Company” means The Dow Chemical Company, a corporation organized under the laws of Delaware.
“Dependent” means a Spouse or Domestic Partner or a Dependent child eligible for coverage under the Retiree Dependent Life Insurance Plan.
“Domestic Partner” means a person who is a member of a Domestic Partnership.  A “Domestic Partnership” means a relationship between two people that meets all of the requirements of paragraph A or both of the requirements of paragraph B:
A.  Facts and Circumstances Test 
		
	1.
	The two people have lived together for at least twelve (12) consecutive months immediately prior to receiving coverage under the Program;

		
	2.
	The two people are not Married to other persons and were not Married to other persons at any time during the twelve (12) consecutive month period preceding coverage under the Program; 

		
	3.
	The two people are and were, during the twelve (12) consecutive month period preceding coverage under the Program, each other’s sole Domestic Partner in a committed relationship similar to a legal Marriage and with the intent to remain in the relationship indefinitely;

		
	4.
	Both people are legally competent and able to enter into a contract; 

		
	5.
	The two people are not related to each other in a way which would prohibit legal Marriage; 

		
	6.
	In entering the relationship with each other, neither of the two people is acting fraudulently or under duress;

		
	7.
	During the twelve (12) month period preceding coverage for benefits under the Plan, and now, the two people have been and are financially interdependent with each other; and

		
	8.
	Both people have signed a statement acceptable to the Plan Administrator indicating the above requirements have been met, and have provided it to the Plan Administrator.

95

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

B.  Civil Union Test
		
	1.
	Evidence satisfactory to the Plan Administrator is provided that the two people are registered as domestic partners or partners in a civil union in a state or municipality or country that legally recognizes such domestic partnerships or civil unions, and

		
	2.
	Both people signed a statement acceptable to the Plan Administrator and have provided it to the Plan Administrator. 

The Plans will cease to recognize a Domestic Partnership as of the date stated on a valid “Termination of Domestic Partner Relationship” form filed with the Plan Administrator.
“Dow” means a Participating Employer or collectively, Participating Employers, as determined by the context of the sentence in which it is used.
“Employee” with respect to a Plan means  a person who:
		
	•
	is employed by a Participating Employer to perform personal services in an employer-employee relationship that is subject to taxation under the Federal Insurance Contributions Act or similar federal statute; 

		
	•
	receives a payment for services performed for the Participating Employer directly from from the Company’s U.S. payroll or a Participating Employer’s U.S. Payroll Department;

		
	•
	if not a U.S. citizen or resident alien, is Localized in the U.S.; and

		
	•
	if on international assignment, is a U.S. citizen or Localized in the U.S.

The definition of “Employee” does not include an individual who is determined by the Plan Administrator or a Participating Employer to be:
		
	1.
	a leased employee as defined by Code § 414(n) without regard to the one-year requirement in Code § 414(n)(2), which generally means an individual who provides services to a Participating Employer pursuant to an agreement between the Participating Employer and another business, such as a leasing organization;

		
	2.
	an individual retained by the Participating Employer pursuant to a contract or agreement (including a long-term contract or agreement) that specifies that the individual is not eligible to participate in the Plan;

		
	3.
	an individual whom is classified or treated as an independent contractor; or

		
	4.
	a self-employed individual, as defined in Code § 401(c)(1)(A), which generally means an individual who has net earnings from self-employment in a trade or business in which the personal services of the individual are a material income-producing factor.

If the Plan Administrator or a Participating Employer determines that an individual is not an “Employee,” the individual will not be eligible to participate in the Plans, regardless of whether the determination is subsequently upheld by a court or tax or regulatory authority having jurisdiction over such matters or whether the individual is subsequently treated or classified as an Employee for certain specified purposes.  Any change to an individual’s status by reason of such reclassification or subsequent treatment will apply prospectively only (i.e., will apply to coverage after the reclassification).
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

96

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

“Full-Time” Employee means an Employee who has been classified by a Participating Employer as having full-time status.
“Hired” or “Hire Date” means:
		
	•
	If you do not have a break in service outside the group of Participating Employers, your “Hire Date” is your earliest hire date with a Participating Employer.  

		
	•
	If you have a break in service outside the group of Participating Employers, your “Hire Date” is the date that you are re-hired by a Participating Employer; however, your “Hire Date” is your earliest hire date with a Participating Employer if you either:

		
	1.
	you were employed by a Participating Employer prior to January 1, 2008 and you:

		
	•
	became a participant of the DEPP component of the Dow Employees’ Pension Plan or the UCEPP component of the Union Carbide Employees’ Pension Plan after your re-hire date; or 

		
	•
	were eligible for coverage under a retiree life insurance plan under the Group Life Insurance Program before January 1, 2008 because you were a Retiree. 

		
	2.
	terminated employment from the Business Process Service Center (“BPSC”) or Business Services, LLC, and:

		
	•
	you were employed by a Participating Employer before you transferred to a position with the BPSC or Business Services, LLC; or

		
	•
	you were employed by a Participating Employer, terminated employment, and were rehired by the BPSC or Business Services, LLC.

“Hourly Employee” means an Employee who is represented by a collective bargaining unit that is recognized by the Company or Participating Employer.
“Initial Claims Reviewer” with respect to deciding Claims for Plan Benefits is MetLife.  With respect to deciding a Claim for an Eligibility Determination, the Initial Claims Reviewer is the North America Health and Welfare Plans Leader for The Dow Chemical Company.
“Less-Than-Full-Time” Employee means an Employee who has been approved by a Participating Employer to work 20 to 39 hours per week and is classified by a Participating Employer as having “Less-Than-Full-Time Status”.
“Localized” occurs when an individual has been determined by a Participating Employer to be permanently relocated to a particular country, and the individual has accepted such determination.  For example, an Employee who is a Malaysian national is “Localized” to the U.S. when a Participating Employer has determined that such Employee is permanently relocated to the U.S., and such Employee has accepted such determination.
“Married” or “Marriage” means a civil contract between two individuals who have the legal capacity to marry and that is formalized by a marriage license.  Whether a person is “Married” for purposes of the Plans shall be determined in accordance with IRS Revenue Ruling 2013-17 and other relevant guidance issued by the Internal Revenue Service and the Department of Labor.
“MetLife” means Metropolitan Life Insurance Company.
“Participating Employer” means the Company or one of its subsidiaries or affiliates that the Company authorizes to participate in the applicable Program.  Notwithstanding anything to the contrary, a “Participating Employer” is only a “Participating Employer” while it is a member of the Company’s controlled group of 

97

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

corporations within the meaning of section 414(b) or section 414(c) of the Code.  If the entity ceases to be a member of the Company’s controlled group of corporations, then the entity ceases to be a “Participating Employer” on the date it is no longer a member of the controlled group of corporations.
“Plan” means the Retiree Company-Paid Life Insurance Plan (for Salaried Retirees and Retirees of Certain Hourly Groups), the Retiree Optional Life Insurance Plan, or the Retiree Dependent Life Insurance Plan, as applicable.  The Retiree Company-Paid Life Insurance Plan (for Salaried Retirees and Retirees of Certain Hourly Groups) is a component of The Dow Chemical Company Group Life Insurance Program (ERISA Plan #507).  The Retiree Optional Life Insurance Plan and the Retiree Dependent Life Insurance Plan are components of The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program (ERISA Plan #515).
“Plan Administrator” means each of the Vice President, Human Resources Center of Expertise; Global Benefits Director; Associate Director of North America Benefits; North America Health and Welfare Plans Leader of The Dow Chemical Company; and such other person, group of persons or entity which may be designated by the Company in accordance with the applicable Plan Document. 
“Plan Document” means the legal instrument under which The Dow Chemical Company Group Life Insurance Program or The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program, as applicable, is operated.  The insurance policy through which Plan benefits are funded and the summary plan descriptions for the Plans offered under these Programs, including this SPD, are part of the Plan Documents for the Programs.
“Plan Year” means the 12 -month period beginning each January 1 and ending each December 31.
“Program” means either The Dow Chemical Company Group Life Insurance Program (ERISA Plan #507) or The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program (ERISA Plan #515), whichever the case may be.
“Regular” Employee means an Employee who is classified by the Employer as “regular.”
“Retire” or “Retirement” means when an active Employee who meets the definition of a “Retiree” terminates employment with a Participating Employer.
“Retiree” means one of the following:
		
	•
	An Employee who (1) is age 50 or older with 10 or more years of Service when his employment terminated with a Participating Employer, (2) is eligible to receive a pension under the Dow Employees’ Pension Plan, and (3) was a Participant in the Program on the day preceding Retirement.  

		
	•
	An Employee who is receiving, or has received a benefit, under the 1993 Special Separation Payment Plan and who is 50 or older at the time he leaves active employment with Dow, regardless of years of Service.  

		
	•
	An Employee who (1) is age 50 or older with 10 or more years of Service when his employment terminated with a Participating Employer, (2) terminated employment with Union Carbide Corporation or a subsidiary of Union Carbide Corporation that is a Participating Employer on or after February 6, 2003, (3) is eligible to receive a pension under the terms of the Union Carbide Employees’ Pension Plan, and (4) was a Participant in the Program on the day preceding termination of employment with the Participating Employer.

		
	•
	An Employee who (1) was enrolled in The Dow Chemical Company Executive Split Dollar Life Insurance Plan, (2) terminated employment with Dow Chemical Canada Inc. on or after October 1, 2003 at age 50 or older with 10 or more years of Service, (3) is eligible to receive a 

98

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

pension from the pension plan sponsored by Dow Chemical Canada Inc., and (3) signed a waiver of all his rights under The Dow Chemical Company Executive Split Dollar Life Insurance Agreement between himself and The Dow Chemical Company.
“Salaried” means an individual who is not represented by a collective bargaining unit.
“Service” with respect to a Retiree who is eligible to receive a pension from the Dow Employees’ Pension Plan, means either “Eligibility Service” or “Credited Service” recognized under the Dow Employees’ Pension Plan, whichever is greater.  With respect to a Retiree who is eligible to receive a pension from the Union Carbide Employees’ Pension Plan, “Service” means “Eligibility Service” or “Credited Service” recognized under the Union Carbide Employees’ Pension Plan, whichever is greater.  For Retirees of the Dow Mid-Michigan Business Process Service Center (“BPSC”) and Business Services, LLC, “Service” is “Eligibility Service” as defined in the Dow Employees’ Pension Plan determined as if the Dow Employees’ Pension Plan recognized service for BPSC or Business Services, LLC.  Contact the Dow Retiree Service Center or refer to the applicable Plan Document for details.
“Spouse” means a person who is Married to the Employee.
“Spouse of Record/Domestic Partner of Record” means the person to whom the Retiree was Married or with whom the Retiree was in a Domestic Partnership, as applicable, on the date the Retiree Retired (or, if later, on December 31, 2002) and who continues to be the Retiree’s Spouse or Domestic Partner, as applicable.  For Dow AgroSciences LLC Retirees, the applicable date described in the preceding sentence is December 31, 2005 instead of December 31, 2002.
“SPD” (or “Summary Plan Description”) means the summary plan description for the Plans, including its appendices.  The SPDs for the applicable component plans are part of the Plan Documents for The Dow Chemical Company Group Life Insurance Program and The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program.
VPHR means the Vice President of the Company with the senior responsibility for human resources.

99

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

THE DOW CHEMICAL COMPANY
ADOPTION OF SUMMARY PLAN DESCRIPTIONS

WHEREAS, The Dow Chemical Company (“Dow”) sponsors The Dow Chemical Company Employee-Paid and Dependent Life Insurance Program and The Dow Chemical Company Group Life Insurance Program (the “Programs”);
WHEREAS, Dow maintains the following component plans under the Programs (collectively, the “Plans”):    
	
				
	l
	Company-Paid Life Insurance Plan;
	l
	Retiree Company-Paid Life Insurance Plan;

	l
	Employee-Paid Life Insurance Plan;
	l
	Retiree Optional Life Insurance Plan; and 

	l
	Dependent Life Insurance Plan;
	l
	Retiree Dependent Life Insurance Plan.

WHEREAS, Dow reserves the right, by action of the undersigned, to amend or modify the Programs including, without limitation, the Plans and the Summary Plan Descriptions for the Plans, in accordance with Article VIII of the plan document for each of the Programs;
WHEREAS, Dow wishes to adopt revised Summary Plan Descriptions for the Plans; and
NOW, THEREFORE, BE IT RESOLVED, Dow adopts the following Summary Plan Descriptions for the Plans as amended and restated substantially in the form attached hereto and bearing the following covers:
	
	
	Summary Plan Description for 
The Dow Chemical Company Company-Paid Life Insurance Plan, Employee-Paid Life Insurance Plan, Dependent Life Insurance Plan

APPLICABLE TO ACTIVE SALARIED EMPLOYEES AND ACTIVE HOURLY EMPLOYEES WHOSE COLLECTIVE BARGAINING UNIT HAS AGREED TO THIS PLAN
Amended and Restated Effective January 1, 2014 and thereafter until superseded

	The Dow Chemical Company Retiree Life Insurance Plans 
for Salaried Retirees and Certain Hourly Retirees

Summary Plan Description for 
Retiree Company-Paid Life Insurance Plan, Retiree Optional Life Insurance Plan, Retiree Dependent Life Insurance Plan

APPLICABLE TO EMPLOYEES HIRED BEFORE JANUARY 1, 2008
Amended and Restated Effective January 1, 2014 and thereafter until superseded

DC: 5150242-1

100

	
			
	 
	 
	Exhibit 10.2

	 
	 
	 

RESOLVED, FURTHER, that all prior Summary Plan Descriptions for the Plans are superseded.
*    *    *    *

	
			
	By:  /s/ BRYAN JENDRETZKE
	 
	Reviewed by Plan Administrator:

	Bryan Jendretzke
	 
	/s/ DIANE DITTENHAFER

	Global Benefits Director
	 
	Diane Dittenhafer

	The Dow Chemical Company
	 
	 

	 
	 
	Reviewed by Legal Department:

	 
	 
	/s/ KENNETH H. HEMLER

	 
	 
	Kenneth H. Hemler

Dated: January 24, 2014

101MSI EX 10.9 (2013)

NQ General
2006 Plan

MOTOROLA SOLUTIONS, INC.
AWARD DOCUMENT
For the
Motorola Solutions Omnibus Incentive Plan of 2006
Terms and Conditions Related to Employee Nonqualified Stock Options

	
						
	 
	 
	 
	 
	 
	 

	Recipient:
	 
	 
	Date of Expiration:
	 
	 

	Commerce ID#:
	 
	 
	Number of Options:
	 
	 

	Date of Grant:
	 
	 
	Exercise Price:
	 
	 

	 
	 
	 
	 
	 
	 

Motorola Solutions, Inc. (“Motorola Solutions” or the “Company”) is pleased to grant you options (“Options”) to purchase shares of Motorola Solutions Common Stock under the Motorola Solutions Omnibus Incentive Plan of 2006 (the “Plan”).  The number of Options awarded to you and the Exercise Price per Option, which is the Fair Market Value (as defined below) on the Date of Grant, are stated above.  Each Option entitles you to purchase one share of Motorola Solutions Common Stock subject to the terms set forth in this Award Document, including any country-specific terms for your country set forth in the appendix attached hereto (the “Appendix” and, together with the Award Document, the “Agreement”), and the Plan.

Vesting Schedule

	
		
	Shares
	     Date    

	 
	 

	 
	 

	 
	 

	 
	 

		
	1.
	VESTING AND EXERCISABILITY.  You cannot exercise the Options until they have vested.  

		
	a.
	Regular Vesting.  The Options will vest in accordance with the above schedule (subject to the other terms of the Agreement).

		
	b.
	Special Vesting.  You may be subject to the Special Vesting Dates described below if your employment or service with Motorola Solutions or a Subsidiary (as defined below) terminates.

		
	c.
	Exercisability.  You may exercise Options at any time after they vest and before they expire as described below.

		
	d.
	Termination of Employment or Service.  For purposes of the Options, your employment or service relationship will be considered terminated as of the date you are no longer considered an employee on the payroll of Motorola Solutions or a Subsidiary, and unless otherwise expressly provided in the Agreement or determined by the Company (i) your right to vest in the Options under the Plan, if any, will terminate as of such date, and (ii) the period (if any) during which you may exercise the Options after such termination of your employment or service relationship will commence on such date; the 

-1-

Company shall have the exclusive discretion to determine when your employment with the Company or a Subsidiary has terminated for purposes of the Options.
		
	2.
	EXPIRATION.  All Options expire on the earlier of (i) the Date of Expiration as stated above or (ii) any of the Special Expiration Dates described below.  As an administrative matter, the vested portion of the Options may be exercised only until the close of the New York Stock Exchange on the Expiration Date or, as applicable the Special Expiration Date, or, if such date is not a trading day on the New York Stock Exchange, the last trading day before such date.  Any later attempt to exercise the Options will not be honored as once an Option expires, you no longer have the right to exercise it.

		
	3.
	SPECIAL VESTING DATES AND SPECIAL EXPIRATION DATES. There are events that cause your Options to vest sooner than the Regular Vesting schedule discussed above or to expire sooner than the Date of Expiration as stated above.  Those events are as follows:

		
	a.
	Disability.  If your employment or service with Motorola Solutions or a Subsidiary is terminated because of your Total and Permanent Disability (as defined below), Options that are not vested will automatically become fully vested upon your termination of employment or service.  All your Options will then expire on the earlier of the first anniversary of your termination of employment or service because of your Total and Permanent Disability or the Date of Expiration stated above.  Until that time, the Options will be exercisable by you or your guardian or legal representative.

		
	b.
	Death. If your employment or service with Motorola Solutions or a Subsidiary is terminated because of your death, Options that are not vested will automatically become fully vested upon your death.  All your Options will then expire on the earlier of the first anniversary of your death or the Date of Expiration stated above.  Until that time, with written proof of death and inheritance, the Options will be exercisable by your legal representative, legatees or distributees.

		
	c.
	Change In Control.  If a “Change in Control” of the Company occurs, and the successor corporation does not assume these Options or replace them with options that are at least comparable to these Options, then: (i) all of your unvested Options will be fully vested and (ii) all of your Options will be exercisable until the Date of Expiration set forth above.  Further, with respect to any Options that are assumed or replaced as described in the preceding paragraph, any agreement or other documentation providing for such assumption or replacement shall provide that the assumed or replaced options will be fully vested and exercisable until the Date of Expiration set forth above if you are involuntarily terminated (for a reason other than “Cause”) or if you quit for “Good Reason” within 24 months of the Change in Control.  For purposes of this paragraph, the terms “Change in Control”, “Cause” and “Good Reason” are defined in the Plan. 

		
	d.
	Termination of Employment or Service Because of Serious Misconduct.  If Motorola Solutions or a Subsidiary terminates your employment or service because of Serious Misconduct (as defined below) all of your Options (vested and unvested) expire upon your termination, unless prohibited under applicable law.

		
	e.
	Change in Employment in Connection with a Divestiture.  If you accept employment with another company in direct connection with the sale, lease, outsourcing arrangement or any other type of asset transfer or transfer of any portion of a facility or any portion of a discrete organizational unit of Motorola Solutions or a Subsidiary, or if you remain employed by a Subsidiary that is sold (a “Divestiture”), all of your unvested Options will vest on a pro rata basis in an amount equal to (a)(i) the total number of Options subject to this Award Document, multiplied by (ii) a fraction, the numerator of which is the number of your completed full months of service from the Date of Grant to the date of the Divestiture and the denominator of which is the number of full months during the entire vesting period, minus (b) any Options that vested prior to the date of Divestiture. All of your vested but not yet exercised Options will expire on the earlier of (i) 90 days after such Divestiture or (ii) the Date of 

-2-

Expiration stated above.  Any Options remaining unvested at the date of such Divestiture shall expire at that time.
		
	f.
	Termination of Employment or Service by Motorola Solutions or a Subsidiary Other than for Serious Misconduct or a Divestiture.  If Motorola Solutions or a Subsidiary on its initiative, terminates your employment or service other than for Serious Misconduct or a Divestiture, all of your unvested Options will vest on a pro rata basis in an amount equal to (a)(i) the total number of Options subject to this Award Document, multiplied by (ii) a fraction, the numerator of which is the number of your completed full months of service from the Date of Grant to the date of your  termination and the denominator of which is the number of full months during the entire vesting period, minus (b) any Options that vested prior to the date of termination.  All of your vested but not yet exercised Options will expire on the earlier of (i) 90 days after your termination of employment or (ii) the Date of Expiration stated above.  Any Options remaining unvested at the date of your termination of employment or service will automatically expire at that time.

		
	g.
	Termination of Employment or Service for any Other Reason than Described Above.  If your employment or service with Motorola Solutions or a Subsidiary terminates for any reason other than that described above, including voluntary resignation of your employment or service, all of your unvested Options will automatically expire upon termination of your employment or service and all of your vested but not yet exercised Options will expire on the earlier of  (i) the date ninety (90) days after the date of termination of your employment or service or (ii) the Date of Expiration stated above. 

		
	4.
	LEAVE OF ABSENCE/TEMPORARY LAYOFF.  If you take a Leave of Absence (as defined below) from Motorola Solutions or a Subsidiary or you are placed on Temporary Layoff (as defined below) by Motorola Solutions or a Subsidiary, the following will apply:

		
	a.
	Vesting of Options.  Options will continue to vest in accordance with the vesting schedule set forth above. 

		
	b.
	Exercising Options.  You may exercise Options that are vested or that vest during the Leave of Absence or Temporary Layoff.

		
	c.
	Effect of Termination of Employment or Service.  If your employment or service is terminated during the Leave of Absence or Temporary Layoff, the treatment of your Options will be determined as described under “Special Vesting Dates and Special Expiration Dates” above.

		
	5.
	METHOD OF EXERCISING.  You must follow the procedures for exercising the Options that are established by Motorola Solutions from time to time.  At the time of exercise, you must pay the Exercise Price for all of the Options being exercised and any Tax-Related Items (as defined in Section 7) that are required to be withheld by Motorola Solutions or a Subsidiary in connection with the exercise.  

		
	6.
	TRANSFERABILITY.  Unless the Committee provides otherwise, Options are not transferable other than by will or the laws of descent and distribution.

		
	7.
	TAX RELATED ITEMS.  

		
	a.
	Responsibility for Taxes.  By accepting the Options, you acknowledge and agree that:

		
	i.
	regardless of any action taken by the Company or, if different, your employer (the “Employer”), you shall be ultimately responsible for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to your participation in the Plan and legally applicable to you or legally imposed on the Company or the Employer as a result of your participation in the Plan and deemed by the Company or the Employer to be an appropriate charge to you (“Tax-Related Items”);

-3-

		
	ii.
	your liability for Tax-Related Items may exceed the amount actually withheld by the Company or the Employer; 

		
	iii.
	the Company and/or the Employer make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Options, including, but not limited to, the grant, vesting or exercise of the Options, the subsequent sale of shares of Common Stock acquired pursuant to such exercise and the receipt of any dividends; 

		
	iv.
	the Company and/or the Employer do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Options to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result; and

		
	v.
	if you are subject to Tax-Related Items in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

		
	b.
	Withholding Taxes.  Prior to the relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items.  In this regard, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by: 

		
	i.
	withholding shares of Common Stock otherwise deliverable to you in connection with the exercise of the Options; or

		
	ii.
	withholding from proceeds of the sale of shares of Common Stock acquired at exercise of the Options, either through a voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization) without further consent.

If the obligation for Tax-Related Items is satisfied by withholding in shares of Common Stock, for tax purposes, you are deemed to have been issued the full number of shares of Common Stock subject to the exercised Options, notwithstanding that a number of the shares of Common Stock are held back solely for the purpose of paying the Tax-Related Items.  You agree to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver the shares of Common Stock, or the proceeds of the sale of such shares, if you fail to comply with your obligations in connection with the Tax-Related Items.
		
	c.
	Withholding Taxes for Section 16 Officers.  Notwithstanding Section 7(b) above, if you are considered an officer for purposes of the Section 16 of the Exchange Act, you may elect to satisfy your obligations for Tax-Related Items by one of the withholding methods set forth in Section 7(b)(i) and (ii) above, unless otherwise set forth in the Appendix for your country.  In the absence of such an election, the Company and/or the Employer will satisfy the obligations with regard to all Tax-Related Items by withholding in shares of Common Stock otherwise deliverable in connection with the exercise of the Options, as set forth in Section 7(b)(i), unless the use of such withholding method is problematic under applicable tax or securities laws, or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items will be satisfied by the method set forth in Section 7(b)(ii) above.  

		
	8.
	NATURE OF GRANT.  In accepting the Options, you acknowledge, understand and agree that:

		
	a.
	the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

-4-

		
	b.
	the grant of the Options is voluntary, non-recurrent and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past; 

		
	c.
	all decisions with respect to future option or other grants, if any, will be at the sole discretion of the Company; 

		
	d.
	the grant of the Options and your participation in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company, the Employer or any Subsidiary, and shall not interfere with the ability of the Company, the Employer or any Subsidiary, as applicable, to terminate your employment or service relationship (if any); 

		
	e.
	you are voluntarily participating in the Plan; 

		
	f.
	the Options and any shares of Common Stock acquired under the Plan are not intended to replace any pension rights or compensation;

		
	g.
	the Options and any shares of Common Stock acquired under the Plan and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement benefits or payments, or welfare benefits or any similar payments; 

		
	h.
	the future value of the shares of Common Stock underlying the Options is unknown, indeterminable, and cannot be predicted with certainty; 

		
	i.
	if the shares of Common Stock underlying the Options do not increase in value, the Options will have no value; 

		
	j.
	unless otherwise provided in the Plan or by the Company in its discretion, neither the Options nor the benefits evidenced by the Agreement shall create any entitlement to have the Options or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Common Stock of the Company;

		
	k.
	if you exercise the Options and acquire shares of Common Stock, the value of such shares may increase or decrease in value, even below the Exercise Price; and

		
	l.
	in addition to subsections (a) through (k) above, the following provisions will also apply if you are providing services outside the United States:

		
	i.
	the Options and the shares of Common Stock subject to the Options are not part of normal or expected compensation or salary for any purpose; 

		
	ii.
	none of the Company, the Employer or any Subsidiary shall be liable for any foreign exchange rate fluctuation between your local currency and the U.S. dollar that may affect the value of the Options or of any amounts due to you pursuant to the exercise of the Options or the subsequent sale of any shares of Common Stock acquired upon exercise;

		
	iii.
	no claim or entitlement to compensation or damages shall arise from forfeiture of the Options resulting from the termination of your employment or other service relationship with Motorola Solutions or any Subsidiary (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and

-5-

		
	iv.
	in consideration of the grant of the Options to which you are otherwise not entitled, you irrevocably agree (a) never to institute any claim against the Company, any Subsidiary or the Employer, (b) waive your ability, if any, to bring any such claim, and (c) release the Company, its Subsidiaries and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim.

		
	9.
	NO ADVICE REGARDING GRANT.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying shares of Common Stock.  You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.

		
	10.
	CONSENT TO TRANSFER PERSONAL DATA.

		
	a.
	By accepting the Options, you hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in the Agreement and any other Option grant materials ("Data") by and among, as applicable, the Employer, the Company and any Subsidiary for the exclusive purpose of implementing, administering and managing your participation in the Plan.  You understand that Data may include certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Options or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the exclusive purpose of implementing, administering and managing the Plan.   

		
	b.
	You understand that Data will be transferred to the Designated Broker, which is assisting the Company with the implementation, administration and management of the Plan.  You understand that the recipients of the Data may be located in the United States or elsewhere, and that a recipient’s country of operation (e.g., the United States) may have different data privacy laws and protections than your country.  You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your human resources representative.  

		
	c.
	You authorize the Company, the Designated Broker and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Plan.  You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan.  You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your human resources representative.  Further, you understand that you are providing the consents herein on a purely voluntary basis.  If you do not consent, or if you later seek to withdraw your consent, your employment status or service and career with the Employer will not be adversely affected; the only consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Options or other equity awards or administer or maintain such awards.  Therefore, you understand that refusing or withdrawing your consent may affect your ability to participate in the Plan.  For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your human resources representative.

		
	11.
	COMPLIANCE WITH LAW.  Notwithstanding any other provision of the Plan or the Agreement, unless there is an available exemption from any registration, qualification or other legal requirement applicable to the shares of Common Stock, the Company shall not be required to deliver any shares of Common Stock 

-6-

issuable upon exercise of the Options prior to the completion of any registration or qualification of the Common Stock under any local, state, federal or foreign securities or exchange control law or under rulings or regulations of the U.S. Securities and Exchange Commission (“SEC”) or of any other governmental regulatory body, or prior to obtaining any approval or other clearance from any local, state, federal or foreign governmental agency, which registration, qualification or approval the Company shall, in its absolute discretion, deem necessary or advisable.  You understand that the Company is under no obligation to register or qualify the shares with the SEC or any state or foreign securities commission, or to seek approval or clearance from any governmental authority for the issuance or sale of the shares of Common Stock.  Further, you agree that the Company shall have unilateral authority to amend the Plan and the Agreement without your consent to the extent necessary to comply with securities or other laws applicable to issuance of shares of Common Stock.
		
	12.
	INSIDER TRADING RESTRICTIONS/MARKET ABUSE LAWS.  You acknowledge that, depending on your country of residence, you may be subject to insider trading restrictions and/or market abuse laws, which may affect your ability to acquire or sell shares of Common Stock or rights to acquire shares of Common Stock (e.g., Options) under the Plan during such times as you are considered to have “inside information” regarding the Company (as defined by or determined under the laws in your country).  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy.  You acknowledge that it is your responsibility to comply with any applicable restrictions, and you are advised to speak to your personal advisor on this matter.

		
	13.
	ELECTRONIC DELIVERY AND ACCEPTANCE.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

		
	14.
	LANGUAGE.  If you have received the Agreement or any other document related to the Options and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

		
	15.
	SEVERABILITY.  The provisions of the Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

		
	16.
	WAIVER.  You acknowledge that a waiver by the Company of breach of any provision of the Agreement shall not operate or be construed as a waiver of any other provision of the Agreement, or of any subsequent breach by you or any other grantee.

		
	17.
	APPENDIX.  Notwithstanding any provision of this Award Document, the Options shall be subject to any special terms and conditions set forth in the Appendix to this Award Document for your country.  Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  The Appendix constitutes part of the Agreement.

		
	18.
	IMPOSITION OF OTHER REQUIREMENTS.  The Company reserves the right to impose other requirements on your participation in the Plan, on the Options and on any shares of Common Stock acquired upon exercise of the Options (or the proceeds from the sale of such shares), to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

		
	19.
	AGREEMENT FOLLOWING TERMINATION OF EMPLOYMENT.  

		
	a.
	By accepting the Options, you acknowledge and agree that for a period of one year following your termination of employment or service, you will not hire, recruit, solicit or induce, or cause, allow, 

-7-

permit or aid others to hire, recruit, solicit or induce, or to communicate in support of those activities, any employee of Motorola Solutions or a Subsidiary who possesses Confidential Information of Motorola Solutions or a Subsidiary to terminate his/her employment with Motorola Solutions or a Subsidiary and/or to seek employment with your new or prospective employer, or any other company. You also agree that by accepting the Options, if you violate the terms of any of this subparagraph  (a), then, in addition to any other remedies available in law and/or equity, all of your vested and unvested Options will terminate and no longer be exercisable, and for all Options exercised within one (1) year prior to the termination of your employment for any reason or anytime after termination of my employment for any reason, you will immediately pay to the Company the difference between the exercise price on the date of grant as reflected in the Award Document for the Options and the market price of the Options on the date of exercise (the "spread").”
		
	b.
	You agree that upon termination of employment or service with Motorola Solutions or a Subsidiary, and for a period of one year thereafter, you will immediately inform Motorola Solutions of (i) the identity of your new employer (or the nature of any start-up business or self-employment), (ii) your new title, and (iii) your job duties and responsibilities.  You hereby authorize Motorola Solutions or a Subsidiary to provide a copy of this Award Document to your new employer.  You further agree to provide information to Motorola Solutions or a Subsidiary as may from time to time be requested in order to determine your compliance with the terms hereof.

		
	20.
	SUBSTITUTE STOCK APPRECIATION RIGHT. Motorola Solutions reserves the right to substitute a Stock Appreciation Right for your Options in the event certain changes are made in the accounting treatment of stock options.  Any substitute Stock Appreciation Right shall be applicable to the same number of shares as your Options and shall have the same Date of Expiration, Exercise Price, and other terms and conditions.  Any substitute Stock Appreciation Right may be settled only in shares of Common Stock.

		
	21.
	DEFINITION OF TERMS.  Capitalized terms used but not otherwise defined in this Award Document shall have the meaning given such term in the Plan.

		
	a.
	“Confidential Information” means information concerning the Company and its business that is not generally known outside the Company, and includes (A) trade secrets; (B) intellectual property; (C) the Company’s methods of operation and Company processes; (D) information regarding the Company’s present and/or future products, developments, processes and systems, including invention disclosures and patent applications; (E) information on customers or potential customers, including customers’ names, sales records, prices, and other terms of sales and Company cost information; (F) Company personnel data; (G) Company business plans, marketing plans, financial data and projections; and (H) information received in confidence by the Company from third parties.  Information regarding products, services or technological innovations in development, in test marketing or being marketed or promoted in a discrete geographic region, which information the Company or one of its affiliates is considering for broader use, shall be deemed generally known until such broader use is actually commercially implemented.

		
	b.
	“Designated Broker” means E*TRADE Financial Services LLC or such other stock plan service provider as may be selected by the Company in the future for purposes of assisting the Company with the implementation, administration and management of the Plan. 

		
	c.
	“Fair Market Value” for purposes of the Options at any time  shall mean the closing price for a share of Common Stock on the date as of which  such value is being determined, as reported for the New York Stock Exchange-Composite Transactions in the Wall Street Journal at www.online.wsj.com.  In the event the New York Stock Exchange is not open for trading on such date, or if the Common Stock does not trade on such day, Fair Market Value for this purpose shall be the closing price of the Common Stock on the immediately preceding date for which transactions were reported; provided however, that if Fair Market Value for any date cannot be so determined, Fair Market Value shall be determined in such manner as the Committee may deem equitable, or as required by applicable law or regulations.

-8-

		
	d.
	“Leave of Absence” means an approved leave of absence from Motorola Solutions or a Subsidiary from which the employee has a right to reinstatement, as determined by applicable law or Motorola Solutions policy.

		
	e.
	“Serious Misconduct” means any misconduct identified as a ground for termination in the Motorola Solutions Code of Business Conduct, or the human resources policies, or other written policies or procedures.  

		
	f.
	“Subsidiary” means any corporation or other entity in which a 50 percent or greater interest is held directly or indirectly by Motorola Solutions and which is consolidated for financial reporting purposes.

		
	g.
	“Total and Permanent Disability” means for (x) U.S. employees, entitlement to long-term disability benefits under the Motorola Solutions Disability Income Plan, as amended and any successor plan or a determination of a permanent and total disability under a state workers compensation statute and (y) non-U.S. employees, as established by applicable Motorola Solutions policy unless otherwise required by local regulations.

		
	h.
	“Temporary Layoff” means a layoff or redundancy that is communicated as being for a period of up to twelve months and as including a right to recall under defined circumstances.

		
	22.
	GOVERNING LAW AND CHOICE OF VENUE.  The Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Illinois, U.S.A., without regard to the provisions governing conflict of laws.  Any and all disputes relating to, concerning or arising from the Agreement, or relating to, concerning or arising from the relationship between the parties evidenced by the grant of Options or the Agreement, shall be brought and heard exclusively in a U.S. federal or state court located in Illinois.  

		
	23.
	ACCEPTANCE OF TERMS AND CONDITIONS.  By accepting the Options, you agree to be bound by the terms of the Agreement, the Plan, any and all rules and regulations established by Motorola Solutions in connection with awards issued under the Plan, and any additional covenants or promises Motorola Solutions may require as a condition of the grant.

		
	24.
	OTHER INFORMATION ABOUT YOUR OPTIONS AND THE PLAN. You can find other information about options and the Plan on the Motorola Solutions website [http://____________________________].  If you do not have access to the website, please contact Motorola Solutions Global Rewards, 1303 E. Algonquin Road, Schaumburg, IL 60196 USA; ______________; 847-576-7885; for an order form to request Plan documents. 

-9-

EXHIBIT A
APPENDIX TO AWARD DOCUMENT

TERMS AND CONDITIONS
This Appendix includes additional terms and conditions that govern the Options granted to you under the Plan if you work and/or reside in one of the countries listed below.  If you are a citizen or resident of a country other than the one in which you are currently working (or are considered as such for local law purposes), or if you transfer employment or residency to a different country after the Options are granted, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to you. 
Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the Award Document.
NOTIFICATIONS
This Appendix also includes notifications regarding certain other issues of which you should be aware with respect to your participation in the Plan.  These notifications are based on the securities, exchange control and other laws in effect in the respective countries as of December 2013.  Such laws are often complex and change frequently.  As a result, the Company strongly recommends that you not rely on the notifications contained in this Appendix as the only source of information relating to the consequences of your participation in the Plan because the information may be outdated at the time you exercise the Options or sell any shares of Common Stock acquired upon such exercise.
In addition, the notifications contained in this Appendix are general in nature and may not apply to your particular situation and, as a result, the Company is not in a position to assure you of any particular result.  Accordingly, you are strongly advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your individual situation.
If you are a citizen or resident of a country other than the one in which you are currently working (or are considered as such for local law purposes), or if you relocate to a different country after the Options are granted, the notifications contained in this Appendix may not be applicable to you in the same manner.  

-10-

ARGENTINA
TERMS AND CONDITIONS
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law.  
NOTIFICATIONS
Securities Law Notice.  Neither the Options nor the underlying shares of Common Stock are publicly offered or listed on any stock exchange in Argentina.  The offer is private and not subject to the supervision of any Argentine governmental authority.
Exchange Control Information.  Following the sale of shares of Common Stock and/or the receipt of dividends, you may be subject to certain restrictions in bringing such funds back into Argentina.  The Argentine bank handling the transaction may request certain documentation in connection with the request to transfer sale proceeds into Argentina (e.g., evidence of the sale, proof of the source of the funds used to purchase such shares, etc.) and, under certain circumstances, may require that 30% of the amount transferred into Argentina be placed in a non-interest bearing dollar deposit account for a holding period of 365 days.  
You are solely responsible for complying with applicable Argentine exchange control rules that may apply in connection with your participation in the Plan and/or the transfer of cash proceeds into Argentina.  Prior to transferring cash proceeds into Argentina, you should consult with your local bank and/or exchange control advisor to confirm what will be required by the bank because interpretations of the applicable Central Bank regulations vary by bank and exchange control rules and regulations are subject to change without notice.
Tax Reporting Obligation.  You must report any shares of Common Stock that you hold on December 31st of each year on your annual tax return for that year.
AUSTRIA
NOTIFICATIONS
Exchange Control Information.  If you hold securities (including shares of Common Stock) or cash (including proceeds from the sale of such shares) outside of Austria, you will be required to report certain information to the Austrian National Bank if certain thresholds are exceeded.  Specifically, if you hold securities outside of Austria, reporting requirements will apply if the value of such securities exceeds (i) €30,000,000 as of the end of any calendar quarter, or (ii) €5,000,000 as of December 31.  The deadline for filing the quarterly report is the 15th day of the month following the end of the respective quarter.  The deadline for filing the annual report is January 31 of the following year.  

Further, if you hold cash in accounts outside of Austria, monthly reporting requirements will apply if the aggregate transaction volume of such cash accounts exceeds €3,000,000.  Specifically, if this threshold is met, the movements and balances of all accounts must be reported monthly, as of the last day of the month, on or before the 15th day of the following month.  
BAHRAIN

-11-

There are no country-specific provisions.
 BRAZIL
TERMS AND CONDITIONS 
Compliance with Law.  By accepting the Options, you agree to comply with applicable Brazilian laws and to report and pay applicable Tax-Related Items associated with the Options and the subsequent sale of any shares of Common Stock acquired under the Plan.
NOTIFICATIONS 
Exchange Control Information and Foreign Property Reporting.  Remittances of funds for the purchase of shares of Common Stock under the Plan must be made through an authorized commercial bank in Brazil.  Further, if you are resident or domiciled in Brazil, you will be required to submit an annual declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights is equal to or greater than US$100,000.  Assets and rights that must be reported include shares of Common Stock acquired under the Plan.
CANADA
TERMS AND CONDITIONS
Method of Exercising. Notwithstanding any provision of the Agreement or the Plan to the contrary, you are prohibited from surrendering shares of Common Stock that you already own to pay the Exercise Price or any Tax-Related Items in connection with the exercise of the Options.  The Company reserves the right to permit this method of payment depending upon the development of local law.
The following provisions apply for residents of Quebec:
English Language Provision.  The parties acknowledge that it is their express wish that the Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.
Les parties reconnaissent avoir expressement souhaité que la convention [“Agreement”], ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou lié, directement ou indirectement à la présente convention, soient rédigés en langue anglaise.  
Data Privacy Notice and Consent.  This provision supplements Section 10 of the Award Document (Consent to Transfer Personal Data):
You hereby authorize the Company and its representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan.  You further authorize the Employer, the Company and any Subsidiary to disclose and discuss the Plan with their advisors.  You further authorize the Employer, the Company and any Subsidiary to record such information and to keep such information in your employee file.
NOTIFICATIONS
Securities Law Information.  You will not be permitted to sell or otherwise dispose of any shares of Common Stock acquired upon exercise of the Options within Canada.  You will only be permitted to sell or dispose of any such shares if such sale or disposal takes place outside of Canada on the facilities on which the Common Stock is traded (i.e., on the New York Stock Exchange).  
Foreign Property Reporting. You are required to report your foreign property on form T1135 (Foreign Income Verification Statement) if the total fair market value of such foreign property exceeds C$100,000 at any time in the 

-12-

year.  Foreign property includes any shares of Common Stock acquired under the Plan and may also include the Options (whether vested or unvested).  If required, the form must be filed by April 30 of the following year.  You should consult with your personal tax advisor to ensure compliance with applicable reporting requirements. 
CHILE
NOTIFICATIONS
Securities Law Notice.  The grant of the Options does not constitute a public offering in Chile.  Further, neither the Company nor the shares of Common Stock underlying the Options are registered with the Chilean Registry of Securities or are under the control of the Chilean Superintendence of Securities.
Exchange Control Information.  You are not required to repatriate proceeds obtained from the sale of shares of Common Stock or from dividends to Chile; however, if you decide to repatriate such proceeds to Chile and the amount of the proceeds to be repatriated exceeds US$10,000, you must effect such repatriation through the Formal Exchange Market (i.e., a commercial bank or registered foreign exchange office in Chile).  If you do not repatriate the proceeds and uses such proceeds for the payment of other obligations contemplated under a different Chapter of the Foreign Exchange Regulations, you must sign Annex 1 of the Manual of Chapter XII of the Foreign Exchange Regulations and file it directly with the Central Bank of Chile within the first 10 days of the month immediately following the transaction.  
Further, if the value of your aggregate investments held outside of Chile (including the value of shares of Common Stock acquired under the Plan) is equal to or greater than US$5,000,000 at any time during the year, you must report the status of such investments annually to the Central Bank using Annex 3.1 of Chapter XII of the Foreign Exchange Regulations of the Central Bank.
Tax Registration Information.  If you hold shares of Common Stock acquired under the Plan outside of Chile, you must inform the Chilean Internal Revenue Service (the “CIRS”) of the details of your investment in such shares by filing Tax Form 1851 (“Annual Sworn Statement Regarding Permanent Investments Held Abroad”).  Further, if you wish to receive credit against your Chilean income taxes for any taxes paid abroad, you must report the payment of taxes abroad to the CIRS by filing Tax Form 1853 (“Annual Sworn Statement Regarding Credits for Taxes Paid Abroad”).  These statements must be submitted electronically through the CIRS website (www.sii.cl) before March 15 of each year.
CHINA
TERMS AND CONDITIONS
The following terms apply only to nationals of the People’s Republic of China (the “PRC”) residing in the PRC, unless otherwise determined by the Company:
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with applicable exchange control laws and regulations including, but not limited to, the restrictions set forth in this Appendix for China below under “Exchange Control Restrictions.” The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 
Exchange Control Restrictions.  By accepting the Options, you understand and agree that you will be required to immediately repatriate all proceeds due to you from the sale of shares of Common Stock acquired under the Plan.  Further, you understand that such repatriation will need to be effected through a special exchange control account established by the Company or Subsidiary in the PRC, and you hereby agree that the proceeds may be transferred to such special account prior to being delivered to you.  The proceeds may be paid to you in U.S. dollars or in local 

-13-

currency, at the Company’s discretion.  If the proceeds are paid in U.S. dollars, you understand that you will be required to set up a U.S. dollar bank account in the PRC so that the proceeds may be deposited into this account.  If the proceeds are paid in local currency, you acknowledge that neither the Company nor any Subsidiary is under an obligation to secure any particular currency conversion rate and that the Company (or a Subsidiary) may face delays in converting the proceeds to local currency due to exchange control requirements in the PRC.  You agree to bear any currency fluctuation risk between the time the shares of Common Stock are sold and the time the proceeds are converted into local currency and distributed to you.  You further agree to comply with any other requirements that may be imposed by the Company in the future to facilitate compliance with PRC exchange control requirements.
COLOMBIA
TERMS AND CONDITIONS
Labor Law Acknowledgement. This provision supplements the acknowledgement contained in Section 8 of the Award Document (Nature of Grant):
You acknowledge that, pursuant to Article 128 of the Colombian Labor Code, the Plan and related benefits do not constitute a component of your “salary” for any legal purpose.
NOTIFICATIONS
Exchange Control Information.  Investments in assets located outside of Colombia (including the shares of Common Stock) are subject to registration with the Central Bank (Banco de la República) if the aggregate value of such investments is US$500,000 or more (as of December 31 of the applicable calendar year).  Further, upon the sale of any shares of Common Stock that you have registered with the Central Bank, you must cancel the registration by March 31 of the following year.  You may be subject to fines if you fail to cancel such registration.
CZECH REPUBLIC
There are no country-specific provisions.
DENMARK
TERMS AND CONDITIONS 
Stock Option Act.  You acknowledge that you have received the Employer Statement in Danish, which sets forth additional terms of the Options to the extent that the Danish Stock Option Act applies. 
NOTIFICATIONS
Exchange Control Information.  If you establish an account holding shares of Common Stock or cash outside of Denmark, you must report the account to the Danish Tax Administration.  The form which should be used in this respect can be obtained from a local bank.  (Please note that these obligations are separate from and in addition to the obligations described below.)
Securities/Tax Reporting Information.  If you hold shares of Common Stock acquired under the Plan in a brokerage account with a broker or bank outside Denmark, you are required to inform the Danish Tax Administration about the account.  For this purpose, you must file a declaration of securities deposited abroad using Declaration V (Erklaering V) with the Danish Tax Administration.  The Declaration V must be signed both by you and by the applicable broker or bank where the account is held.  By signing the Declaration V, the broker or bank undertakes to forward information to the Danish Tax Administration concerning the shares of Common Stock in the account without further request each year.  By signing the Declaration V, you authorize the Danish Tax Administration to examine the account.  A sample of the Declaration V can be found at the following website:  www.skat.dk.  

-14-

However, if the broker or bank with which the shares of Common Stock are deposited will not agree to sign the Declaration V (as will likely be the case), you may apply for an exemption from this requirement by completing Section 6 of the Declaration V form (“Possible exemption from requirement to give promise”).  If the application is accepted, you will be personally responsible for submitting the required information described in the Declaration V form as an attachment to your annual tax return.  
In addition, if you open a brokerage account (or a deposit account with a U.S. bank) for the purpose of holding cash outside Denmark, you are also required to inform the Danish Tax Administration about this account (even if the account was already reported on Declaration V).  To do so, you must also file a declaration of commercial accounts held with foreign banks using Declaration K (Erklaering K) with the Danish Tax Administration.  A sample of Declaration K can be found at the following website:  www.skat.dk.
ECUADOR
There are no country-specific provisions.
EGYPT
NOTIFICATIONS
Exchange Control Information.  If you transfer funds into or out of Egypt in connection with your participation in the Plan, you are required to transfer the funds through a registered bank in Egypt.    
FINLAND
There are no country-specific provisions.
FRANCE
TERMS AND CONDITIONS
Consent to Receive Information in English.  By accepting the Options, you confirm having read and understood the Agreement (including this Appendix) and the Plan, including all terms and conditions included therein, which were provided in the English language.  You accept the terms of these documents accordingly.
En acceptant les Options, vous confirme avoir lu et compris ce Contrat (y incluse cette Annexe) et le Plan, incluant tous leurs termes et conditions, qui lui ont été transmis en langue anglaise. Vous accepte les dispositions de ces documents en connaissance de cause.
GERMANY
NOTIFICATIONS
Exchange Control Information.  Cross-border payments in excess of €12,500 must be reported monthly to the German Federal Bank (Bundesbank).  In the event that you make or receive a payment in excess of this amount, you must report the payment to Bundesbank electronically using the “General Statistics Reporting Portal” (“Allgemeines Meldeportal Statistik”) available via Bundesbank’s website (www.bundesbank.de).
GREECE
NOTIFICATIONS 
Exchange Control Information.  If you exercise the Options through a cash exercise, withdraw funds from a bank in Greece and remit those funds out of Greece, you may be required to submit a written application to the bank.  The application will likely need to contain the following information: (i) amount and currency to be remitted; (ii) account 

-15-

to be debited; (iii) name and contact information of the beneficiary (the person or corporation to whom the funds are to be remitted); (iv) bank of the beneficiary with address and code number; (v) account number of the beneficiary; (vi) details of the payment such as the purpose of the transaction; and (vii) expenses of the transaction.
If you exercise the Options using a cashless method of exercise, this application will not be required because no funds will be remitted out of Greece.
GUAM
There are no country-specific provisions.
HONG KONG
TERMS AND CONDITIONS 
Share Sale Restriction. In the event that the Options vest and become exercisable within six months of the Date of Grant, you (or your heirs) agree not to sell or otherwise dispose of any shares of Common Stock underlying the Options (including by means of a cashless exercise of such Options) prior to the six-month anniversary of the Date of Grant.
NOTIFICATIONS 
Securities Law Notice.  WARNING: Neither the grant of the Options nor the issuance of shares of Common Stock upon exercise of the Options constitutes a public offering of securities under Hong Kong law and is available only to employees of the Company and its Subsidiaries.  The Agreement, including this Appendix, the Plan and other incidental communication materials distributed in connection with the Options (i) have not been prepared in accordance with and are not intended to constitute a “prospectus” for a public offering of securities under the applicable securities legislation in Hong Kong, (ii) have not been reviewed by any regulatory authority in Hong Kong, and (iii) are intended only for the personal use of each eligible employee of the Company or its Subsidiaries and may not be distributed to any other person.  If you have any questions regarding the contents of the Agreement, including this Appendix, or the Plan, you should obtain independent professional advice.
HUNGARY
There are no country-specific provisions.
INDIA
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law.  
NOTIFICATIONS
Exchange Control Information.  Due to exchange control restrictions in India, you are required to repatriate any proceeds from the sale of shares of Common Stock acquired under the Plan or to India within 90 days of receipt.  You must obtain a foreign inward remittance certificate (“FIRC”) from the bank where you deposit the funds and must maintain the FIRC as evidence of the repatriation of funds in the event that the Reserve Bank of India or the Employer requests proof of repatriation.

-16-

Foreign Account and Asset Reporting.  You are required to declare any foreign bank accounts and assets (including shares of Common Stock) on your annual tax return.  You should consult with your personal tax advisor to determine your reporting requirements.  
INDONESIA
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law.  
NOTIFICATIONS
Exchange Control Information.  If you remit proceeds from the sale of shares of Common Stock into Indonesia, the Indonesian Bank through which the transaction is made will submit a report on the transaction to the Bank of Indonesia for statistical reporting purposes.  For transactions of US$10,000 or more, a description of the transaction must be included in the report.  Although the bank through which the transaction is made is required to make the report, you must complete a “Transfer Report Form.”  The Transfer Report Form will be provided to you by the bank through which the transaction is made.
IRELAND
NOTIFICATIONS 
Director Notification Obligation.  If you are a director, shadow director or secretary of an Irish Subsidiary, you are required to notify such Irish Subsidiary in writing within five business days of (i) receiving or disposing of an interest in the Company (e.g., Options, shares of Common Stock, etc.), (ii) becoming aware of the event giving rise to the notification requirement, or (iii) becoming a director, shadow director or secretary of an Irish Subsidiary if such an interest exists at the time.  This notification requirement also applies with respect to the interests of a spouse or children under the age of 18 (whose interests will be attributed to the director, shadow director or secretary).
ISRAEL
TERMS AND CONDITIONS
Nature of Award.  By accepting the Options, you understand and agree that the Options are offered subject to and in accordance with the Israeli Addendum (Sub-Plan) to the Plan (the “Israeli Subplan”), are granted under the Capital Gains Tax Track Through a Trustee (as defined in the Israeli Subplan) and are intended to qualify for favorable tax treatment set forth under the “capital gains” track of Section 102 of the Israeli Income Tax Ordinance [new version] 1961 (“102 Capital Gains Treatment”).  Notwithstanding the foregoing, the Company does not undertake to maintain the qualified status of the Options and you acknowledge that you will not be entitled to damages of any nature whatsoever if the Options become disqualified.  In the event of any inconsistencies between the Israeli Subplan, the Agreement and/or the Plan, the terms of the Israeli Subplan will govern. 
Further, to the extent requested by the Company or the Employer, you agree to execute any letter or other agreement in connection with the grant of the Options or any future options granted under the Israeli Subplan.  If you fail to comply with such request, the Options may not qualify for 102 Capital Gains Treatment.
Method of Exercising. Notwithstanding any provision of the Agreement or the Plan to the contrary, you may not exercise your Options using a cashless “sell-to-cover” method of exercise, whereby you direct the Designated Broker 

-17-

to sell some (but not all) of the shares of Common Stock subject to the exercised Options and deliver to the Company the amount of the sale proceeds to pay the Exercise Price and any Tax-Related Items.  The Company reserves the right to provide you with this method of payment in the future. 
Trust Arrangement.  You acknowledge and agree that any shares of Common Stock issued upon exercise of the Options (and not immediately sold) will be deposited with the Company’s designated trustee in Israel, Tamir Fishman (the “Trustee”) pursuant to a supervisory trust arrangement in accordance with the terms of the trust agreement between the Company and the Trustee.  You further agree that such shares of Common Stock will be subject to the Holding Period applicable to Options granted under the Capital Gains Track Through a Trustee, as set forth in Section 1.1(A) of the Israeli Subplan (the “Holding Period”).  The Company may at its sole discretion replace the Trustee from time to time and instruct the transfer of all Options and shares of Common Stock held and/or administered by such Trustee at such time to its successor and the provisions of this Agreement shall apply to the new Trustee mutatis mutandis. 
Restriction on Sale.  You acknowledge that any shares of Common Stock underlying the Options may not be sold prior to the expiration of the Holding Period in order to qualify for 102 Capital Gains Tax Treatment.  Accordingly, you agree not to dispose of (or request the Trustee to dispose of) any such shares prior to the expiration of the Holding Period.  For purposes of this Appendix for Israel, “dispose” shall mean any sale (including by means of a cashless exercise), transfer or other disposal of the shares of Common Stock by you or the Trustee, including a release of such shares from the Trustee to you. 
Tax-Related Items.  The following provision supplements Section 7 of the Award Document (Tax-Related Items): 
In the event that you dispose of any shares of Common Stock underlying the Options prior to the expiration of the Holding Period, you acknowledge and agree that such shares will not qualify for 102 Capital Gains Tax Treatment and will be subject to taxation in Israel in accordance with ordinary income tax principles.  Further, you acknowledge and agree that you will be liable for the Employer’s component of payments to the National Insurance Institute (to the extent such payments by the Employer are required).
You further agree that the Trustee may act on behalf of the Company or the Employer, as applicable, to satisfy any obligation to withhold Tax-Related Items applicable to you in connection with Options granted under the Israeli Subplan. 
NOTIFICATIONS
Securities Law Notice.  An exemption from filing a prospectus in relation to the Plan has been granted to the Company by the Israeli Securities Authority.  Copies of the Plan can be accessed at http://compass-mot-solutions.com/go/197538766 and the Form S-8 registration statement for the Plan filed with the SEC can be accessed at http://www.sec.gov/Archives/edgar/data/68505/000095013706005238/c04482sv8.htm.

ITALY
TERMS AND CONDITIONS
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law.  

-18-

Data Privacy Notice.  This provision replaces Section 10 of the Award Document (Consent to Transfer Personal Data) in its entirety:
You understand that the Employer, the Company and any of its Subsidiaries may hold certain personal information about you, including your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of Common Stock or directorships that you hold in the Company, details of all options or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in your favor ("Data"), for the exclusive purpose of implementing, administering and managing your participation in the Plan.
You also understand that providing the Company with Data is necessary for the performance of the Plan and that your refusal to provide Data would make it impossible for the Company to perform its contractual obligations and may affect your ability to participate in the Plan.  The Controller of personal data processing is Motorola Solutions, Inc., with its principal operating offices at 1303 East Algonquin Road, Schaumburg, Illinois 60196 U.S.A., and its representative in Italy is Motorola Solutions Italia S.p.A. via Giovanni Lorenzini, No. 4, Milan, Italy

You understand that Data will not be publicized, but it may be transferred to banks, other financial institutions or brokers involved in the management and administration of the Plan.  You further understand that the Company and its Subsidiaries will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan, and that the Company and/or its Subsidiaries may each further transfer Data to third parties assisting the Company in the implementation, administration and management of the Plan, including any requisite transfer to the Designated Broker or another third party with whom you may elect to deposit any shares of Common Stock acquired under the Plan.  Such recipients may receive, possess, use, retain and transfer the Data in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan.  You understand that these recipients may be located in the European Economic Area, or elsewhere, such as the United States.  Should the Company exercise its discretion in suspending all necessary legal obligations connected with the management and administration of the Plan, you understand that the Company will delete your Data as soon as it has accomplished all the necessary legal obligations connected with the management and administration of the Plan.
You understand that Data processing related to the purposes specified above shall take place under automated or non-automated conditions, anonymously when possible, that comply with the purposes for which Data are collected and with confidentiality and security provisions as set forth by applicable laws and regulations, with specific reference to Legislative Decree no. 196/2003.
The processing activity, including communication, the transfer of your Data abroad, including outside of the European Economic Area, as herein specified and pursuant to applicable laws and regulations, does not require your consent thereto as the processing is necessary to performance of contractual obligations related to implementation, administration and management of the Plan.  You understand that, pursuant to Section 7 of the Legislative Decree no. 196/2003, you have the right to, including but not limited to, access, delete, update, ask for rectification of the Data and cease, for legitimate reason, any processing of the Data.  Furthermore, you are aware that the Data will not be used for direct marketing purposes.  In addition, the Data provided may be reviewed and questions or complaints can be addressed by contacting your human resources department. 
Plan Document Acknowledgment.  In accepting the Options, you acknowledge that you have received a copy of the Plan and the Agreement (including this Appendix), have reviewed these documents in their entirety and fully understand and accept all provisions of these documents.  
Further, you acknowledge that you have read and specifically and expressly approve the following sections of the Award Document: Section 1 (Vesting and Exercisability); Section 2 (Expiration); Section 3 (Special Vesting Dates and Special Expiration Dates); Section 7 (Tax-Related Items); Section 8 (Nature of Grant); Section 14 (Language); Section 22 (Governing Law and Choice of Venue) and the Data Privacy Notice for Italy included in this Appendix.
NOTIFICATIONS

-19-

Foreign Asset and Investment Reporting.  If you are an Italian resident and, during any fiscal year, hold investments or financial assets outside of Italy (e.g., cash, shares of Common Stock) which may generate income taxable in Italy (or if you are the beneficial owner of such an investment or asset even if you do not directly hold the investment or asset), you are required to report such investments or assets on your annual tax return for such fiscal year (on UNICO Form, RW Schedule, or on a special form if you are not required to file a tax return).
JAPAN
NOTIFICATIONS
Exchange Control Information.  If you acquire shares of Common Stock valued at more than ¥100,000,000 in a single transaction, you must file a Securities Acquisition Report with the Ministry of Finance through the Bank of Japan within 20 days of the acquisition of such shares.
In addition, if you pay more than ¥30,000,000 in a single transaction for the purchase of shares of Common Stock when you exercise the Options, you must file a Payment Report with the Ministry of Finance through the Bank of Japan within 20 days of the date that the payment is made.  The precise reporting requirements vary depending on whether or not the relevant payment is made through a bank in Japan.
Please note that a Payment Report is required independently from a Securities Acquisition Report; therefore, you must file both a Payment Report and a Securities Acquisition Report if the total amount that you pay in a single transaction for exercising the Options and purchasing shares of Common Stock exceeds ¥100,000,000.
Foreign Asset Reporting.  If you hold assets outside of Japan with a value exceeding ¥50,000,000 (as of December 31 each year), you are required to comply with annual tax reporting obligations with respect to such assets.  You are advised to consult with a personal tax advisor to ensure that you are properly complying with applicable reporting requirements.
KAZAKHSTAN
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law

KOREA
NOTIFICATIONS
Exchange Control Information. In the event that you remit funds out of Korea in connection with the exercise of the Options, such remittance of funds must be “confirmed” by a foreign exchange bank in Korea.  In order to receive the confirmation, you will likely be required to submit documents evidencing the nature of remittance to the bank handling the remittance in Korea together with the confirmation application, including a copy of the Agreement, the Plan, your certificate of employment with the Employer and any other information requested by the bank. No bank confirmation is necessary if no funds are remitted out of Korea in connection with the exercise of the Option (e.g., if pay the Exercise Price using funds already outside of Korea or a cashless method of exercise).  

-20-

In addition, exchange control laws require Korean residents who realize US$500,000 or more from the sale of shares in a single transaction to repatriate the proceeds to Korea within 18 months of the sale.
Foreign Account Reporting.  Korean residents must declare all foreign financial accounts (i.e., non-Korean bank accounts, brokerage accounts, etc.) to the Korean tax authority and file a report with respect to such accounts if the value of such accounts exceeds KRW 1 billion (or an equivalent amount in foreign currency).  You should consult with your personal tax advisor to determine your personal reporting obligations.
LIBYA
There are no country-specific provisions.
LITHUANIA
There are no country-specific provisions.  
MALAYSIA
NOTIFICATIONS
Director Notification Obligation.  If you are a director of a Subsidiary in Malaysia, you are subject to certain notification requirements under the Malaysian Companies Act.  Among these requirements is an obligation to notify such Malaysian Subsidiary in writing when you receive or dispose of an interest (e.g., Options or shares of Common Stock) in the Company or any related company.  Such notifications must be made within 14 days of receiving or disposing of any interest in the Company or any related company.  
MEXICO
TERMS AND CONDITIONS 
Plan Document Acknowledgement.  By accepting the Options, you acknowledge that you have received a copy of the Plan and the Agreement, including this Appendix, which you have reviewed.  You acknowledge further that you accept all the provisions of the Plan and the Agreement, including this Appendix.  You also acknowledge that you have read and specifically and expressly approve the terms and conditions set forth in Section 8 of the Award Document (Nature of Grant), which clearly provides as follows:
(1)    Your participation in the Plan does not constitute an acquired right;
		
	(2)
	The Plan and your participation in it are offered by the Company on a wholly discretionary basis;

(3)    Your participation in the Plan is voluntary; and
		
	(4)
	None of the Company, the Employer or any Subsidiary is responsible for any decrease in the value of any shares of Common Stock acquired upon exercise of the Options. 

Labor Law Policy and Acknowledgment.  This provision supplements Section 8 of the Award Document (Nature of Grant):
By accepting the Options, you expressly recognize that the Company, with its principal operating offices at 1303 East Algonquin Road, Schaumburg, Illinois 60196 U.S.A., is solely responsible for the administration of the Plan and that your participation in the Plan and acquisition of shares of Common Stock under the Plan do not constitute an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and your sole employer is a Mexican legal entity that employs you and to which you are subordinated (i.e., the Employer). Based on the foregoing, you expressly recognize that the Plan and the benefits that you may derive from participating in the Plan do not establish any rights between you and the Employer and do not form part of the employment conditions 

-21-

and/or benefits provided by the Employer and any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of your employment.
You further understand that your participation in the Plan is as a result of a unilateral and discretionary decision of the Company; therefore, the Company reserves the absolute right to amend and/or discontinue your participation in the Plan at any time without any liability to you.
Finally, you hereby declare that you do not reserve any action or right to bring any claim against the Company for any compensation or damages regarding any provision of the Plan or the benefits derived under the Plan, and you therefore grant a full and broad release to the Company, and its Subsidiaries, affiliates, branches, representation offices, shareholders, trustees, directors, officers, employees, agents, or legal representatives with respect to any such claim that may arise.
Reconocimiento de Documento. Al aceptar la Opción, Usted reconoce que ha recibido una copia del Plan, incluyendo este Apéndice por país, mismos que Usted ha revisado.  Usted reconoce, además, que acepta todas las disposiciones del Plan, el Convenio, incluyendo este Addendum.  Usted también reconoce que ha leído y que específicamente aprueba de forma expresa los términos y condiciones establecidos en la Sección 8 del documento denominado “Naturaleza del Otorgamiento”, que claramente dispone lo siguiente:
(1)        Su participación en el Plan no constituye un derecho adquirido;
(2)       El Plan y su participación en el mismo, se ofrecen por la Compañía de manera totalmente discrecional;
(3)        Su participación en el Plan es voluntaria; y
(4)        Ninguna de las empresas subsidiarias de la Compañía ni el Patrón del Participante son responsables de ninguna disminución en el valor de las Acciones adquiridas al momento de tener el derecho respecto a las Unidades de Acciones Restringidas.
Política Laboral y Reconocimiento. Esta disposición suplementa la Sección 8 del Documento denominado (naturaleza del Otorgamiento):
Al aceptar las Opciones, Usted expresamente reconoce que la Compañía, con domicilio de operaciones ubicado en 1303 East Algonquin Road, Schaumburg, Illinois 60196, EE.UU, es el único responsable de la administración del Plan y que su participación en el Plan y la adquisición de Acciones no constituyen una relación de trabajo entre Usted y la Compañía, ya que Usted participa en el Plan de una manera totalmente comercial y su único Patrón es  una empresa Mexicana a quien se encuentra subordinado.  Derivado de lo anterior, Usted expresamente reconoce que el Plan y los beneficios que le pudieran derivar de la participación en el dicho Plan no establecen derecho alguno entre Usted y su patrón y no forman parte de las condiciones de trabajo y/o las prestaciones otorgadas por el Patrón  y que cualquier modificación al Plan o su terminación no constituye un cambio o menoscabo de los términos y condiciones de su relación de trabajo.
Asimismo, Usted reconoce que su participación en el Plan es resultado de una decisión unilateral y discrecional de la Compañía; por lo tanto, la Compañía se reserva el derecho absoluto de modificar y/o discontinuar su participación en cualquier momento y sin responsabilidad alguna frente a Usted.
Finalmente, Usted por este medio declara que no se reserva derecho o acción alguna en contra de la Compañía por cualquier compensación o daños y perjuicios en relación con cualquier disposición del Plan o de los beneficios derivados del Plan y, por lo tanto, Usted otorga el más amplio finiquito que en derecho proceda a favor de la Compañía, y sus afiliadas, sucursales, oficinas de representación, accionistas, fiduciarios, directores, funcionarios, empleados, agentes o representantes legales en relación con cualquier demanda o reclamación que pudiera surgir.

-22-

NETHERLANDS
NOTIFICATIONS

NIGERIA
There are no country-specific provisions.
NORWAY
There are no country-specific provisions.
PAKISTAN
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 
NOTIFICATIONS
Exchange Control Information.  You are required to immediately repatriate to Pakistan the proceeds from the sale of shares of Common Stock as described above.  The proceeds must be converted into local currency and the receipt of proceeds must be reported to the State Bank of Pakistan (the “SBP”) by filing a “Proceeds Realization Certificate” issued by the bank converting the proceeds with the SBP.  The repatriated amounts cannot be credited to a foreign currency account.  You are advised to consult with your personal advisor prior to exercise of the Options to ensure compliance with the applicable exchange control regulations in Pakistan, as such regulations are subject to frequent change.  You are responsible for ensuring compliance with all exchange control laws in Pakistan.

PERU
NOTIFICATIONS
Securities Law Notice.  The offer of the Options is considered a private offering in Peru; therefore, it is not subject to registration.
POLAND
NOTIFICATIONS

-23-

Exchange Control Information.  Polish residents holding foreign securities (e.g., shares of Common Stock) and/or maintaining accounts abroad must report information to the National Bank of Poland on transactions and balances of the securities and cash deposited in such accounts if the value of such securities and cash (when combined with all other assets possessed abroad) exceeds PLN 7 million.  If required, the reports must be filed on a quarterly basis on special forms that are available on the website of the National Bank of Poland.
Further, if you transfer funds in excess of €15,000 into or out of Poland, the funds must be transferred via a bank account.  You are required to retain the documents connected with a foreign exchange transaction for a period of five years, as measured from the end of the year in which such transaction occurred.  
PORTUGAL
TERMS AND CONDITIONS
English Language Consent.  You hereby expressly declare that you have full knowledge of the English language and have read, understood and fully accept and agree with the terms and conditions established in the Plan and the Agreement.
Consentimento de Lingua Inglesa.  O signatário pelo presente expressamente declara que tem pleno conhecimento da língua Inglesa e que leu, compreendeu e totalmente aceitou e concordou com os termos e condições estabelecidas no Plano e no Acordo
NOTIFICATIONS 
Exchange Control Information.  If you acquire shares of Common Stock under the Plan, you may be required to file a report with the Portuguese Central Bank for statistical purposes (unless you arrange to have the shares of Common Stock deposited with a Portuguese financial intermediary, in which case the intermediary will file the report for you). 
QATAR
There are no country-specific provisions.
ROMANIA
NOTIFICATIONS
Exchange Control Information.  If you deposit proceeds from the sale of shares of Common Stock in a bank account in Romania, you may be required to provide the Romanian bank with appropriate documentation explaining the source of the funds.  You should consult your personal advisor to determine whether you will be required to submit such documentation to the Romanian bank.
SERBIA
NOTIFICATIONS
Securities Law Notice.  The grant of Options is not subject to the regulations concerning public offers and private placements under the Law on Capital Markets.  

-24-

Exchange Control Information.  Pursuant to the Law on Foreign Exchange Transactions, Serbian residents may freely acquire shares of Common Stock under the Plan; however, the National Bank of Serbia generally requires reporting of the acquisition of such shares of Common Stock, the value of the shares of Common Stock at exercise and, on a quarterly basis, any changes in the value of such shares.  You are advised to consult with your personal legal advisor to determine your reporting obligations upon the acquisition of shares of Common Stock under the Plan as such obligations are subject to change based on the interpretation of applicable regulations by the National Bank of Serbia.  
SINGAPORE
NOTIFICATIONS
Securities Law Notice.  The grant of the Options is being made pursuant to the “Qualifying Person” exemption” under section 273(1)(f) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”) under which it is exempt from the prospectus and registration requirements and is not made with a view to the underlying shares of Common Stock being subsequently offered for sale to any other party.  The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore.  You should note that the Options are subject to section 257 of the SFA and that you will not be able to make any subsequent sale of the shares of Common Stock in Singapore, or any offer of such subsequent sale of the shares of Common Stock in Singapore, unless such sale or offer is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA. 
Director Notification Requirement.  Directors of a Singapore Subsidiary are subject to certain notification requirements under the Singapore Companies Act.  Directors must notify the Singapore Subsidiary in writing of an interest (e.g., Options, shares of Common Stock, etc.) in the Company or any related company within two business days of (i) its acquisition or disposal, (ii) any change in a previously-disclosed interest (e.g., upon vesting of the Options or when shares of Common Stock acquired under the Plan are subsequently sold), or (iii) becoming a director.
SOUTH AFRICA
TERMS AND CONDITIONS
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 
Tax Obligations.  The following provision supplements Section 7 of the Award Document (Tax-Related Items):
Upon exercise of the Options, you are required to immediately notify the Employer of the amount any gain you realize as a result of such exercise.  You may be liable for a fine if you fail to complete this notification.  
NOTIFICATIONS
Exchange Control Information.  The Options may be subject to exchange control regulations in South Africa.  In particular, if you are a South African resident for exchange control purposes, you are required to obtain approval from the South African Reserve Bank for payments (including payment of proceeds from the sale of shares of Common Stock) that you receive into accounts based outside of South Africa (e.g., a U.S. brokerage account established with the Designated Broker).  Because exchange control regulations are subject to change, you should consult with your personal advisor to ensure compliance with current regulations.  

-25-

SPAIN
TERMS AND CONDITIONS 
Nature of Grant.  The following provision supplements Section 8 of the Award Document (Nature of Grant):
By accepting the Options, you consent to participation in the Plan and acknowledge that you have received a copy of the Plan.
You understand that the Company has unilaterally, gratuitously and discretionally decided to grant options under the Plan to individuals who may be employees of the Company or its Subsidiaries throughout the world.  This decision is a limited decision that is entered into upon the express assumption and condition that any grant will not bind the Company or any of its Subsidiaries other than as expressly set forth in the Award Document.  Consequently, you understand that the Options are granted on the assumption and condition that the Options and any shares of Common Stock issued upon exercise of the Options are not a part of any employment contract (either with the Company or any Subsidiary) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever.  
Further, you understand and agree that, unless otherwise expressly provided for by the Company or set forth in the Award Document, the Options will be cancelled without entitlement to any shares of Common Stock if your employment is terminated for any reason, including, but not limited to: resignation, retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without cause, material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under Article 40 of the Workers’ Statute, Article 50 of the Workers’ Statute, or under Article 10.3 of Royal Decree 1382/1985.  The Company, in its sole discretion, shall determine the date when your employment has terminated for purposes of the Options. 
In addition, you understand that this grant would not be made to you but for the assumptions and conditions referred to above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of, or right to, the Options shall be null and void.
NOTIFICATIONS 
Securities Law Notice.  No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory in connection with the Options.  The Agreement has not been, nor will it be, registered with the Comisión Nacional del Mercado de Valores, and does not constitute a public offering prospectus.
Exchange Control Information.  When receiving foreign currency payments derived pursuant to the Options (e.g., proceeds from the sale of shares of Common stock), you must inform the financial institution receiving the payment of the basis upon which such payment is made if the payment exceeds €50,000.  Upon request, you will need to provide the institution with the following information: your name, address, and fiscal identification number; the name and corporate domicile of the Company; the amount of the payment; the currency used; the country of origin; the reasons for the payment; and any additional information required.  This exchange control reporting requirement will end on January 1, 2014.
Foreign Property Reporting.  To the extent that you hold rights or assets (e.g., shares of Common Stock, cash, etc.) in a bank or brokerage account outside of Spain with a value in excess of €50,000 per type of right or asset as of December 31 each year, you are required to report information on such rights and assets on your tax return for such year.  Shares of Common Stock constitute securities for purposes of this requirement, but the Options (whether vested or unvested) are not considered assets or rights for purposes of this requirement.  
If applicable, you must report the assets or rights on Form 720 by no later than March 31 following the end of the relevant year. After such assets or rights are initially reported, the reporting obligation will only apply for subsequent years if the value of any previously-reported assets or rights increases by more than €20,000.  Failure to comply with 

-26-

this reporting requirement may result in penalties to you.  Accordingly, you are advised to consult with your personal tax and legal advisors to ensure that you are properly complying with your reporting obligations.  
Foreign Asset and Account Reporting.  You are required to electronically declare to the Bank of Spain any securities accounts (including brokerage accounts held abroad), as well as the securities held in such accounts, if the value of the transactions for all such accounts during the prior tax year or the balances in such accounts as of December 31 of the prior tax year exceeds €1,000,000.   
Share Reporting Requirement. In the event that you acquire shares of Common Stock upon exercise of the Options, you must declare such acquisition to the Spanish Dirección General de Comercio e Inversiones (the “DGCI”), the Bureau for Commerce and Investments, which is a department of the Ministry of Economy and Competitiveness.  You must also declare ownership of any shares of Common Stock by filing a Form D-6 with the Directorate of Foreign Transactions each January while such shares are owned.  In addition, the sale of shares of Common Stock must also be declared on Form D-6 filed with the DGCI in January, unless the sale proceeds exceed the applicable threshold (currently €1,502,530), in which case, the filing is due within one month after the sale.
SRI LANKA
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 
NOTIFICATIONS
Exchange Control Information.  Upon the sale of shares of Common Stock, you are required to repatriate any proceeds received from such sale back to Sri Lanka.  You may be required to obtain exchange control approval in Sri Lanka in order to hold sales proceeds in an account outside of Sri Lanka.  You are advised to consult with your personal legal advisor to determine your responsibilities under Sri Lankan exchange control laws.  
SWEDEN
There are no country-specific provisions. 
TAIWAN
NOTIFICATIONS
Securities Law Notice.  The offer of participation in the Plan is available only for employees of the Company and its Subsidiaries.  The offer of participation in the Plan is not a public offer of securities by a Taiwanese company. 
Exchange Control Information.  You may acquire and remit foreign currency (including proceeds from the sale of shares of Common Stock) up to US$5,000,000 per year without justification.  If the transaction amount is TWD500,000 or more in a single transaction, you must submit a Foreign Exchange Transaction Form and provide supporting documentation to the satisfaction of the remitting bank.  
THAILAND
NOTIFICATIONS

-27-

Exchange Control Notification.  If you remit funds out of Thailand in order to exercise the Options, you must remit such funds through a commercial bank in Thailand.  
Further, if you realize US$50,000 or more in a single transaction from the sale of shares of Common Stock or the payment of dividends, you are required to repatriate the cash proceeds to Thailand immediately following the receipt of such proceeds and to then either convert such repatriated proceeds into Thai Baht or deposit the proceeds into a foreign currency account opened with any commercial bank in Thailand within 360 days of repatriation.  Further, for repatriated amounts of US$50,000 or more, you must specifically report the inward remittance to the Bank of Thailand on a Foreign Exchange Transaction Form.  You are personally responsible for complying with exchange control restrictions in Thailand.
TURKEY
NOTIFICATIONS
Exchange Control Information.  If you remit funds out of Turkey in order to exercise the Options, you must remit such funds through a licensed financial intermediary institution in Turkey. 
UKRAINE
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law.  
NOTIFICATIONS
Exchange Control Information.  You may be required to obtain an “investment license” (for the purchase of shares of Common Stock) and/or a “placement license” (for the placement of shares or Common Stock or cash outside of Ukraine) from the National Bank of Ukraine.
In addition, you are required to notify the National Bank of Ukraine within three days of the opening of a foreign brokerage account, such as your account with the Designated Broker.  You are advised to consult with your personal legal advisor to determine your responsibilities under Ukrainian exchange control laws.  
UNITED ARAB EMIRATES
There are no country-specific provisions.

UNITED KINGDOM
TERMS AND CONDITIONS
Tax-Related Items.  This provision supplements Section 7 of the Award Document (Tax-Related Items):
If payment or withholding of your income tax liability is not made within 90 days of the event giving rise to such income tax liability or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), the amount of any uncollected income tax will constitute a loan owed by you to the Employer, effective on the Due Date.  You agree that the loan will bear interest at the then-current Official Rate of Her 

-28-

Majesty’s Revenue & Customs (“HMRC”), it will be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means referred to in the Award Document or the Plan.  
Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), you will not be eligible for such a loan to cover the income tax as described above and any income tax liability not collected by the Due Date may constitute a benefit to you on which additional income tax and National Insurance contributions may be payable.  You will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for the value of any National Insurance contributions due on this additional benefit, which may be recovered by the Company or the Employer at any time thereafter by any of the means referred to in the Award Document or the Plan. 
VENEZUELA
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 
NOTIFICATIONS
Securities Law Notice.  The Options are offered as a personal, private, exclusive transaction and are not subject to Venezuelan government securities regulations.
Investment Representation.  As a condition of the grant of the Options, you acknowledge and agree that the Options are held as an investment and that any cashless exercise of the Options is not being performed for purposes of obtaining foreign currency. 
Exchange Control Information.  Following the sale of shares of Common Stock, you may be subject to certain restrictions if you attempt to transfer such cash proceeds into Venezuela.  You are solely responsible for complying with applicable Venezuelan exchange control rules that may apply in connection with your participation in the Plan and/or the transfer of cash proceeds into Venezuela.  You are advised to consult with your personal legal advisor to determine your responsibilities under Venezuelan exchange control laws.  

VIETNAM
TERMS AND CONDITIONS 
Method of Exercising.  Due to local legal restrictions, you will be required to pay the Exercise Price by means of a cashless “sell all” method of exercise through the Designated Broker, such that all shares of Common Stock subject to the exercised Options will be sold immediately upon exercise (i.e. a “same day sale”) and the sales proceeds, less the Exercise Price, any applicable Tax-Related Items and broker’s fees or commissions, will be remitted to you in accordance with your instructions to the Designated Broker. The Company reserves the right to provide you with additional methods of exercise depending on the development of local law. 

-29-

Exchange Control Information.  All cash proceeds from the sale of shares of Common Stock must be immediately repatriated to Vietnam.  You are advised to consult with your personal legal advisor to determine your responsibilities under Vietnamese exchange control laws.  

-30-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]