Document:

Letter from FINOVA to James M. Wifler dated February 20, 2006

 Exhibit 10.P.11 
  

	
	 

	         FINANCIAL INNOVATORS

	
	                     THE FINOVA GROUP
INC.

	                     4800 N. SCOTTSDALE
ROAD

	                     SCOTTSDALE, AZ
85251-7623

	
	                     TEL 480-636-4800/ 800
7FINOVA

	                     INTERNET
www.finova.com

 February 20, 2006 
 Dear James Wifler, 
 This letter restates your severance benefits. 
 Base Severance 
  

	 	1)	Base severance - in the event you are involuntarily terminated for reasons other than cause or performance, you will be eligible to receive severance pay in a lump sum, less
applicable taxes, equal to 4 weeks for each full year of service prorated for partial years with a minimum of 52 weeks and a maximum of 78 weeks of base salary. As of this writing, your base severance is equal to 78.00 weeks.

 Additional Severance 
  

	 	2)	In recognition of your contribution during 2003, in addition to the base severance pay detailed in (1) above, you were given another 10.05 weeks of severance.

  

	 	3)	In recognition of your contribution during 2004, in addition to the base severance pay detailed in (1) and the additional severance detailed in (2) above, you have been
awarded another 12.55 weeks of severance. 

  

	 	4)	In recognition of your contribution during 2005, in addition to the base severance pay detailed in (1) and the additional severance detailed in (2) and (3) above, you
have been awarded another 13.00 weeks of severance. 

 You may have the opportunity to be awarded additional severance weeks for future years.
Those awards are discretionary and based upon the criticality of your position and your performance. 
 The total of your
base and additional severance weeks may exceed the 78-week maximum stated in (1) above. 
 Funding for the payment of
severance is secured in the FINOVA Severance Trust. 
 Since the task of liquidating the portfolio cannot be forecast precisely, it is difficult to predict
our staffing needs, but every effort will be made to give you at least 30 days notice of your termination date. 

 COBRA 
 The Company will pay COBRA premiums for medical, dental and vision on your behalf for a period of time equal a maximum of 18 months. You must be a participant in the Plans at the time you are terminated and enroll in
COBRA by sending the enrollment material to Aetna COBRA Administration to receive this benefit. The additional severance weeks granted to you for 2003, 2004 and 2005 in items (2), (3) and (4) above will not be eligible for Company paid
COBRA premiums nor will any additional weeks granted in the future through that program. As of this writing, you are entitled to 18.00 months of company paid medical, dental and vision. 
 Career Continuation Counseling 
 You will also receive executive career-planning services to help you obtain future employment. Our outplacement vendor at this time is Lee Hecht Harrison. You are entitled to their 12-month program. Additional details about the program
benefits will be communicated to you at the time of your severance. 
 Other Severance Benefits 
 Financial/Estate Planning 
 You are eligible for financial/estate
planning services for up to 12 months from your termination date. The Company will reimburse you up to $8,000 for the costs incurred by you and/or your spouse in connection with financial counseling. The advice is to be provided by a licensed
financial advisor of your choosing. This service includes, but is not restricted to tax preparation. 
 Exec-U-Care 
 You are eligible to continue your Exec-U-Care services for 12 months from your termination date. The Exec-U-Care program is used to pay for medical, dental or vision
services not covered by the group health plans up to a total of $5,000 each calendar year. Co-payments, deductibles and any out of pocket costs associated with dental and doctor visits are covered benefits under this program. Exclusions and
limitations of the program are in the enrollment information you already have. 
 Executive Physical Exam Benefit 
 You are eligible to be reimbursed up to $3,200 for one annual physical during the calendar year of your termination and one annual physical during the calendar year
following your termination date. The physical can be arranged either through your primary care physician or at a medical facility of your choosing. The physical include a comprehensive physical exam, associated laboratory work, audiogram, glaucoma
screening, resting electrocardiogram, chest x-ray, treadmill stress test and associated laboratory work, as applicable. 
 Resignations and
Terminations for Cause or Performance 
 If you voluntarily resign or are terminated for cause or performance at any time, you are not eligible
to receive severance benefits. 
 Nothing in this letter forms a contract of employment for any specific duration or on any specific terms, and FINOVA
retains the right to terminate your employment at any time. 

 This letter is subject to the terms of applicable policies and the specific plans relating to the matters noted above,
such as FINOVA’s Severance Pay Plan, Enhanced Severance Plans, the Annual Bonus Plans and the Employee Severance and Bonus Trusts, which are incorporated by reference. If those policies or plans conflict with this letter, the terms most
beneficial to the employee shall control. 
 If you have any questions, please feel free to call me at 480-636-6544.

 Sincerely, 
  

	
	 /s/ Susan DeFelice

	 Susan DeFelice

	 Vice President – HR & Benefits

 Employee Acceptance 
 In signing below you are agreeing to the terms of this letter. You are also acknowledging your understanding that you are not able to voluntarily terminate employment and still receive any severance payment. 
  

			
		 	 /s/ James Wifler

		 	James Wifler
		
		 	 Date: February 22, 2006Amendment to the MasterCard International Supplemental Executive Retirement Plan

 Exhibit 10.12.1 
  
 Amendment to the MasterCard International Incorporated 
 Supplemental Executive Retirement Plan 
 The MasterCard International Incorporated Supplemental
Executive Retirement Plan (the “SERP”), effective as of November 18, 1999, with amendments through December 31, 2002, shall be and hereby is amended by adding the following Article X, effective as of January 1, 2005.

  
 ARTICLE X 
 AMENDMENTS REQUIRED BY SECTION 409A 
 Effective as of January 1, 2005 
 This Article X amends the Plan to avoid the imposition on any Participant or Beneficiary of
a penalty tax under Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable rulings and regulations thereunder (“Section 409A”). The provisions of this Article X shall apply notwithstanding any
contrary provision of the Plan and shall supersede the other provisions of the Plan to the extent necessary to eliminate inconsistencies between this Article X and such other provisions. 
 1. Effective as of January 1, 2005, the Retirement Benefit of each Participant who incurs a Termination from Service Date on or after
January 1, 2005, whether or not vested, shall be subject to and administered in accordance with Section 409A. 
 2. Effective for
Participants who incur a Termination from Service Date on or after April 1, 2005, the Retirement Benefit, if any, payable to a Participant shall be paid in a single lump sum on the first business day of the month following the date which is six
months and one day after the date on which the Participant incurs a separation from service. 
 3. Effective for Benefit Starting Dates on
and after January 1, 2005, no Retirement Benefit shall be paid in the form of a Ten-Year Certain Annuity and Section 4.1(b) of the SERP shall cease to be in effect. 
 4. Effective as of January 1, 2005, Section 3.2(c) shall cease to be in effect and a Participant shall not be permitted to defer the date,
determined pursuant to Section 2 of this Article X, on which his Retirement Benefit is payable, notwithstanding that his employment with the Company and its subsidiaries is terminated due to a Change of Control. 
 5. Effective as of January 1, 2005, in the event of the death of a Participant before his Benefit Starting Date, the amount payable to his
Beneficiary pursuant to Section 3.3 shall be paid in accordance with Section 3.3; provided, however, that such amount shall be paid ninety days following the date of the Participant’s death. 

 Exhibit 10.12.1 
  
 6. Effective as of January 1, 2005, the term “Termination from Service Date” shall mean a separation from service from the Company
and its subsidiaries within the meaning of Section 409A of the Code. 
 7. Effective as of January 1, 2005, to the extent that any
Participant receives in 2005 a lump sum distribution of his total Retirement Benefit, such distribution shall be deemed a termination of such Participant’s participation in the Plan in accordance with Q&A 20(a) of Notice 2005-1 promulgated
by the U.S. Treasury Department and the Internal Revenue Service. 
 8. Effective as of January 1, 2005, the Chief Administrative
Officer of the Company (“Chief Administrative Officer”) shall have the unilateral right, without the consent of any employee, Participant or Beneficiary, to the extent that the Chief Administrative Officer deems necessary,
appropriate or desirable to avoid the imposition on any person of a penalty tax under Section 409A (i) to adopt additional amendments to the Plan, including, without limitation, an amendment and restatement of the Plan; provided
that such amendments do not materially increase benefits under the Plan or materially increase costs for the Company, (ii) to change the timing or manner of payment of any benefit under the Plan and (iii) to modify any such payment or
benefit. 
  
 *  *   *   *   *

  
 Except as set forth herein, the SERP remains in
full force and effect.MasterCard International Incorporated Annuity Bonus Program

 Exhibit 10.15 
 MASTERCARD INTERNATIONAL INCORPORATED 
 ANNUITY BONUS PROGRAM: 
 STATEMENT OF COMPANY PAYROLL PRACTICES AND PROCEDURES 
 (As amended and restated as of January 1, 2000 
 with amendments through December 1, 2005)

 1. Purpose. 
 This document describes the
Company’s payroll practices and procedures applicable to the payment of Annuity Bonuses and Tax Equalization Payments to Participants whose benefits are curtailed under the MAP and the Savings Plan by operation of the Limits. The Practices and
Procedures are not intended to be, and shall be not construed as, an “employee benefit plan” within the meaning of the Employee Retirement Security Act of 1974, as amended. 
 2. Eligibility. 
 The Human Resources Department of the Company will advise Eligible Employees of their continuing
eligibility to receive an Annuity Bonus. A Participant’s receipt of an Annuity Bonus for one Bonus Year will not obligate the Company to award an Annuity Bonus for any succeeding Bonus Year. Notwithstanding anything in the Practices and
Procedures to the contrary, effective as of December 1, 2005, an individual who, on the date on which an Annuity Bonus or MAP Conversion Bonus would otherwise be paid in any form to such individual, is not actively employed by one of the
Companies shall not, at any time, be eligible to receive such Annuity Bonus or MAP Conversion Bonus and shall forfeit all rights thereto. For purposes of the prior sentence, an individual who is in a notice period is not actively employed by one of
the Companies. 
 3. Definitions and Rules of Construction. 
 (a) Definitions. The following capitalized words shall have the meanings set forth below: 
 “Accumulation Interest Rate”
means an interest rate, which may differ between classes of employees, determined each Bonus Year by the Committee. 
 “Additional Pay Credit
Bonus” means the portion of the Annuity Bonus determined in accordance with Section 4(b). 
 “Annuity Bonus” means the amount
determined in accordance with Section 4(a). 
 “Annuity Contract” means an annuity contract, or an addition to an existing annuity
contract, issued by an insurance company or other third-party annuity provider selected by the Committee from time to time. 
 “Applicable
Date” has the meaning set forth in Section 5(b). 
 “Applicable Tax Rate” means a uniform rate applicable to all Participants
for a Bonus Year, reflecting the designated federal, state and local income tax rates specified by the Committee for this purpose. The Committee’s determination of the Applicable Tax 

 
Rate shall be final and binding on all Participants and shall not be subject to appeal or review. 
 “Benefit Limit” means the limit on benefits under the MAP or the Savings Plan imposed by Section 415 of the Code. 
 “Board” means the Global Board of Directors of the Company. 
 “Bonus Year” means the calendar year. 
 “Code” means the Internal Revenue Code of 1986, as amended, and the
applicable rulings and regulations thereunder. 
 “Committee” means the Pension and Savings Plan Committee. 
 “Company” means MasterCard International Incorporated, a Delaware not-for profit corporation, and any entity that succeeds to all or substantially all
of its business or assets. 
 “Companies” means the Company and each other corporation that has elected, with the consent of the Board or
the Committee, to award Annuity Bonuses in accordance with the Practices and Procedures. 
 “Compensation Limit” means the limit on
compensation under the MAP or the Savings Plan imposed by Section 401(a)(17) of the Code. 
 “Conversion Eligible Participant” mean a
Participant who is eligible for a MAP Conversion Bonus in accordance with the provisions of Sections 5(a) and (b). 
 “Effective Date” means
January 1, 2000. 
 “Eligible Employee” means a highly-compensated employee of any of the Companies. 
 “Initial Account Balance” has the meaning set forth in the MAP. 
 “Limits” means the Compensation Limit and the Benefit Limit. 
 “MAP” means the MasterCard International
Incorporated Accumulation Plan, as the same may be amended from time to time. 
 “MAP Adjustment Bonus” means the amount determined in
accordance with Section 4(c). 
 “MAP Conversion Bonus” means the one-time bonus payable to certain Participants under Section 5
in connection with the establishment of MAP. 

 “Net Savings Plan Bonus” means the portion of the Annuity Bonus determined in accordance with
Section 4(d). 
 “Participant” means an Eligible Employee selected by the Company to receive an Annuity Bonus for a given Bonus Year.

 “Pay Credit” has the meaning set forth in the MAP. 
 “Practices and Procedures” means these MasterCard International Incorporated practices and procedures, as the same may be amended from time to time. 
 “Prior Plan Terms” has the meaning set forth in the MAP. 
 “Savings Plan” means the
MasterCard International Incorporated Savings Plan, as the same may be amended from time to time. 
 “Savings Plan Adjustment Bonus” means
the amount determined in accordance with Section 4(e). 
 “Tax Equalization Payment” means an amount determined in accordance with
Section 4(g) or 5(e), and subject to the provisions of Section 6(e). 
 (b) Rules of Construction. Unless the context requires otherwise,
the use of the masculine form of a word shall include the feminine form and the use of the singular form shall include the plural form. 
 4. Annuity
Bonus. 
 (a) Calculation. The amount of a Participant’s Annuity Bonus for a Bonus Year beginning on and after the Effective Date will equal
the sum of (i) the Additional Pay Credit Bonus and (ii) the Net Savings Plan Bonus. 
 (b) Additional Pay Credit Bonus. A Participant’s
Additional Pay Credit Bonus for each Bonus Year beginning on or after the Effective Date shall be an amount determined in accordance with the formula [(1 - T) x (A - B)], where “A” is the sum of (i) the vested Pay Credits the
Participant would have received for the Bonus Year under the MAP if the Limits did not apply to the Participant for such Year and (ii) the MAP Adjustment Bonus, if any, for such Bonus Year; “B” is the Pay Credit actually
credited to the Participant for the Bonus Year; and “T” is the Applicable Tax Rate, as illustrated by the following example: 
 Example

 Service 6 years 
 Pay Credit Multiplier from MAP 5.75% 
 Base Pay Plus AICP Incentive $200,000 
 Applicable Compensation Limit $170,000 

 Pay Credit without Code Limit $ 11,500 
 ($200,000 x .0575) 
 Pay Credit from MAP $ 9,775 
 ($170,000 x .0575) 
 Applicable Tax Rate 40% 
 Additional Pay Credit Bonus $ 1,035 
 (1 - .400) x ($11,500 - $9,775) 
 All tax rates in the examples in the Practices and Procedures are for illustration purposes only. 
 (c) MAP Adjustment Bonus. If a Participant who was not fully vested in the MAP would have received an Additional Pay Credit Bonus in a prior Bonus Year but for the vesting requirement in Section 4(b) and
subsequently becomes entitled in a later Bonus Year to an Additional Pay Credit Bonus as part of such Participant’s Annuity Bonus, then the calculation of “A” for such Participant in such later Bonus Year shall include a MAP
Adjustment Bonus. The “MAP Adjustment Bonus” shall equal the portion of the Pay Credits that were not taken into account for each such prior Bonus Year as a result of the vesting requirements and that become vested during the
current Bonus Year, together with interest at the Accumulation Interest Rate, applied from the end of such prior Bonus Year to the end of the current Bonus Year, as illustrated by the following example: 
 Example 
 Year of Vesting 2003 
 Additional Pay Credit Bonus for 2001 $ 5,000 
 Additional Pay Credit Bonus for
2002 $ 7,000 
 Accumulation Interest Rate 8% 
 MAP Adjustment
Bonus for 2003 $13,392 
 [($5,000 x 1.082 ) + ($7,000 x 1.08)]. 
 (d) Net Savings Plan Bonus. A Participant’s Net Savings Plan Bonus for each Bonus Year shall be an
amount determined in accordance with the formula [(1 - T) x (X - Y)], where “X” is the sum of (i) the vested employer matching contribution that the Participant would have received for the Bonus Year under the Savings Plan if
the Limits did not apply and assuming that, for such Bonus Year, the Participant’s tax deferral contributions under the Savings Plan were not limited by the dollar limits under Section 402(g) of the Code and (ii) the Savings Plan
Adjustment Bonus, if any, for such Bonus Year; “Y” is the actual employer matching contribution received by the Participant for the Bonus Year under the Savings Plan; and “T” is the Applicable Tax Rate, as
illustrated by the following example: 
 Example 
 Vested Savings
Plan Match without Limits $26,000 
 Actual Vested Savings Plan Match $19,500 
 Applicable Tax Rate 40% 
 Net Savings Plan Bonus $ 3,900 
 (1 - .400) x ($26,000 - $19,500) 

 (e) Savings Plan Adjustment Bonus. If a Participant who was not fully vested in the Savings Plan would have
received a Net Savings Plan Bonus in a prior Bonus Year but for the vesting requirements in Section 4(d) and subsequently becomes entitled in a later Bonus Year to a Net Savings Plan Bonus as part of such Participant’s Annuity Bonus, then
the calculation of “X” for such Participant in such later Bonus Year shall include a Savings Plan Adjustment Bonus. The “Savings Plan Adjustment Bonus” shall equal the portion of the employer matching contribution that was
not taken into account for each prior Bonus Year as a result of the vesting requirements and that become vested during the current Bonus Year, together with interest at the Accumulation Interest Rate for the then current Bonus Year, applied from the
end of such prior Bonus Year to the end of the current Bonus Year, as illustrated by the following example: 
 Example 
 Year of Vesting 2003 
 Net Savings Plan Bonus for 2001 $1,000 
 Net Savings Plan Bonus for 2002 $2,000 
 Accumulation Interest Rate 8%

 MAP Adjustment Bonus for 2003 $3,326 
 [($1,000 x
1.082) + ($2,000 x 1.08)]. 
 (f) Form of Payment of Annuity Bonuses. As soon as reasonably practicable after the determination of a Annuity Bonus for a Bonus Year, the Company will apply the amount of the Annuity Bonus for a Bonus Year to the purchase of an
Annuity Contract on the life of the Participant with a purchase price equal to the Annuity Bonus. The Annuity Contract will be distributed to the Participant as soon as reasonably practicable after such Annuity Contract is issued. 
 (g) Tax Equalization Payment. In addition to the receipt of the Annuity Contract for a Bonus Year, each Participant shall receive, for each Bonus Year that the
Participant earns an Annuity Bonus, a Tax Equalization Payment determined in accordance with the formula [(P/(1 - Ti)) - P], where “P” is the amount of the Annuity Bonus for the Bonus Year and “Ti” is the federal,
state and local tax rate for the Participant specified by the Committee for the Bonus Year plus the rate of the Participant’s portion of the Medicare payroll tax, as illustrated by the following example: 
 Example 
 a. Annuity Bonus $10,000 
 b. Federal, State and Local Tax Rate 35% 
 c. Medicare Tax 1.45% 

d. Tax Equalization Payment $5,736 
 [$10,000/(1 - .35 - .0145) - $10,000]

 e. Total Taxable Income (a + d) $15,736 
 f. Assumed Tax Due $
5,736 
 g. Net After-Tax Cash Flow (d - f) $0.00 

 The Tax Equalization Payment shall be paid (or remitted in the manner contemplated by Section 6(e)) to the
Participant at the time that the Annuity Contract is delivered to the Participant, subject to applicable income tax and wage withholding requirements, including, without limitation, withholding required in respect of the delivery of the Annuity
Contract. 
 5. MAP Conversion Bonus. 
 (a) Limited
Eligibility. The provisions of this Section 5 shall apply only to individuals selected to be Conversion Eligible Participants by the Committee from among the group of Eligible Employees who meet the criteria set forth in Section 5(b).

 (b) Minimum Eligibility Criteria. In order to be eligible for selection in accordance with Section 5(a) for a MAP Conversion Bonus, an
Eligible Employee must be (i) an employee of one of the Companies on the Applicable Date (as defined below); (ii) have an Initial Account Balance under MAP on the Effective Date; and (iii) be a Participant in MAP on the Applicable
Date. For purposes of this Section 5, “Applicable Date” shall be the later of (i) the Effective Date and (ii) the date a Conversion Eligible Participant vests in his Initial Account Balance under the MAP. 

(c) Payment and Form of Payment of the MAP Conversion Bonus. If a Participant is vested in his MAP benefit on the Effective Date, the MAP Conversion Bonus will
be paid in accordance with this section as soon as reasonably practicable after the amount of such bonus has been determined. If a Participant is not vested in his MAP benefit on the effective Date, the MAP Conversion Bonus will be paid to such
Participant at the same time as the first Additional Pay Credit Bonus is paid to such Participant (or, in the event of the Participant’s death prior to payment, at the time and in the form of the final Pay Credit Bonus payable under
Section 5(g) below). Vesting is determined in accordance with the vesting provisions of Article VI of the MAP. The Company will apply the amount of the MAP Conversion Bonus to the purchase of an Annuity Contract on the life of the Participant
with a purchase price equal to the MAP Conversion Bonus. The Conversion Eligible Participant will be the owner of the Annuity Contract and will have the ability to direct the investment of funds held under the Annuity Contract and to surrender the
Annuity Contract at any time. The Annuity Contract will be distributed to the Conversion Eligible Participant as soon as reasonably practicable after such Annuity Contract is issued. 
 (d) Amount of the MAP Conversion Bonus. The amount of a Conversion Eligible Participant’s MAP Conversion Bonus shall be determined as follows: 
 1. The Company shall calculate the difference which results by subtracting (B) the value of such Participant’s accrued benefit under the Prior Plan Terms immediately prior to the Effective Date from
(A) the value of the accrued benefit that such Participant would have earned under the Prior Plan Terms immediately prior to the Effective Date if the Limits did not apply (the “Accrued Benefit Difference”), as illustrated by
the following example: 
 Example 
 12/31/99 Accrued Benefit
under Prior $8,000 Plan Terms 
 12/31/99 Accrued Benefit under $10,000 
 Practices and Procedures Based Upon Prior Plan Terms 
 Accrued Benefit Difference $ 2,000 

 2. The Company shall calculate the difference which results from subtracting (D) the Accrued Benefit Difference
multiplied by the applicable factor set forth in Appendix A hereto from (C) the Accrued Benefit Difference multiplied by the applicable factor set forth in Part A of Appendix C of the MAP (the “Account Balance Difference”). The
applicable factor from each table shall be based on the Conversion Eligible Participant’s age as of the last day of the calendar year in which the Effective Date occurs, as illustrated by the following example: 
 Example 
 Accrued Benefit Difference (from above) $ 2,000 
 Factor from Part A, Appendix C of MAP 10.2880 (for age 60 ) 
 Factor from
Appendix A of the Practices and Procedures (for age 60) 6.1638 
 Account Balance Difference $ 8,248 [($2,000 x 10.2880) - ($2,000 x 6.1638)] 
 3. If the Applicable Date is later than the Effective Date, the Account Balance Difference shall be credited with the Accumulation Interest Rate from the Effective Date
to the last day of the Bonus Year in which the Participant vests in his benefit under MAP (the “Adjusted Account Balance Difference”). 
 4.
The Account Balance Difference or Adjusted Account Balance Difference, as the case may be, is then multiplied by one minus the Applicable Tax Rate to calculate the MAP Conversion Bonus, as illustrated by the following example: 
 Example 
 Applicable Tax rate 40% 
 MAP Conversion Bonus $4,949 [$8,248 x (1 - .40)] 
 (e) Tax Equalization
Payment. In addition to the receipt of the Annuity Contract in respect of the MAP Conversion Bonus, each Conversion Eligible Participant shall receive, at the time of delivery of such Annuity Contract, a Tax Equalization Payment determined in
accordance with the formula [(R/(1 - Ti)) - R], where “R” is the amount of the MAP Conversion Bonus and “Ti” is the federal state and local tax rate for the Conversion Eligible Participant specified by the Committee plus
the rate of the Conversion Eligible Participant’s portion of the Medicare payroll tax. The Tax Equalization Payment shall be paid to the Participant at the time that the Annuity Contract is delivered to the Participant, subject to applicable
income tax and wage withholding requirements, including, without limitation, withholding required in respect of the delivery of the Annuity Contract. An example of tax equalization is set forth at the end of Section 4(g). 

 6. General Provisions. 
 (a) Administration. The Committee shall have the right (i) to construe and interpret the Practices and Procedures and all rules, regulations, agreements and other documents related thereto, (ii) to promulgate rules,
regulations and agreements related to the Practices and Procedures, (iii) to approve all calculations necessary for the administration and implementation of the Practices and Procedures, (iv) to make factual and other determinations,
(v) to delegate administrative authority to one or more officers or employees of the Companies or to one or more third-party administrators, (vi) to determine the amount of any Annuity Bonus, MAP Conversion Bonus or Tax Equalization
Payment, (vii) to correct errors in any previous calculation, and (viii) to rely upon the reports of third parties, including the actuaries, attorneys and accountants of the Company. 
 (b) Discretion as to Form of Payment. The Company shall have the right to pay some or all of each Annuity Bonus or MAP Conversion Bonus in cash rather than
through the delivery of an Annuity Contract. 
 (c) Participant Rights and Obligations Regarding Annuity Contracts. 
 The Participant will be the owner of each Annuity Contract distributed to the Participant. A Participant, as the owner of a distributed Annuity Contract, will have the
ability to direct the investment of funds held under the Annuity Contract. The actual accumulations under the Annuity Contract will be dependent upon investment decisions made by the Participant and consequently will not have any direct relationship
to any assumptions that may be used in calculating the Annuity Bonus each year. A Participant is solely responsible for (i) reviewing the information (including the prospectus) provided by the issuer of the Annuity Contract for information on
investment choices available under such contract and (ii) consulting with a personal investment adviser before making a decision to invest in the various accounts under the Annuity Contract. 
 (d) Withdrawals and Annuity Contract Charges. 
 1. Annuity Contracts
Attributable to Bonus Years Before 2005. A Participant will have the ability to surrender or withdraw amounts from an Annuity Contract at any time to the extent such contract or amount was purchased with an Annuity Bonus or MAP Conversion Bonus for
Bonus Years ending prior to January 1, 2005 (a “Pre-2005 Amount”). If the Participant withdraws any Pre-2005 Amount from an Annuity Contract, for reasons other than retirement or disability of the Participant, within five years
of the end of the initial Bonus Year applicable to the Participant, the Participant will no longer be entitled to an Annuity Bonus or MAP Conversion Bonus, if any, for any subsequent Bonus Year. Whether a withdrawal is by reason of retirement or
disability shall be determined by the Committee. 
 2. Annuity Contracts Attributable to Bonus Years After 2004. A Participant shall not be permitted to
surrender an Annuity Contract or withdraw any amount from an Annuity Contract to the extent such contract or amount was purchased with an Annuity Bonus for any Bonus Year beginning on or after January 1, 2005 (i.e., an Annuity Bonus
payable in 2006 for Bonus Year 2005) for reasons other than termination of employment with the 

 
Company or disability of the Participant. Whether a withdrawal is by reason of termination of employment or disability shall be determined by the Committee.

 3. Annuity Contract Charges. Participants are responsible for reviewing the documents (including the prospectus) related to the Annuity Contract to
determine the amount of the administrative charges against the value of the Annuity Contract if the Annuity Contract is surrendered during any period specified in the Annuity Contract. The Participant, and not the Company, shall be responsible for
all charges against the value of the Annuity Contract (including load, redemption, withdrawal and surrender charges) assessed under or against the Annuity Contract after the Contract is issued. 
 (e) Considerations Regarding Tax Equalization Payments. The Company shall have the right, in lieu of paying a Tax Equalization Payment to a Participant, to credit
the amount of any such Tax Equalization Payment (in such proportions as determined by the Committee) as federal, state and local income and other applicable withholding amounts on behalf of the affected Participant. Tax Equalization Payments are
designed to place a Participant in approximately the same after-tax position based upon the actual tax rate as if the Participant had not received the Annuity Bonus. As there are many variables in calculating a Participant’s tax liability, the
Tax Equalization Payments will not, in most cases, necessarily make a Participant whole with respect to the income and other tax liability incurred as a result of receipt of the Annuity Bonus. The Company shall have no obligation to adjust the
amount of any Tax Equalization Payment based upon a Participant’s individual circumstances. 
 (f) Termination Before End of Bonus Year. If a
Participant’s employment with the Companies terminates before the end of a Bonus Year for any reason other than Cause (as defined below), any amounts payable to the Participant for that Bonus Year will be based only on compensation from the
Companies earned by the Participant for such year through the date of such termination of employment. No Annuity Bonus will be payable for a Bonus Year if a Participant’s employment is terminated for cause. For purposes hereof,
“Cause” means (i) a materially dishonest act or omission or misrepresentation by Employee in connection with the Company’s business, the Participant’s gross incompetence, (ii) willful misconduct, breach of
fiduciary duty involving personal profit, (iii) intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar minor violations of law), final cease-and-desist order, or
(iv) notorious act(s) contrary to customarily recognized acceptable standards of behavior which results in publicly that adversely impacts the Company or its business reputation by reason of the nature of the act and the Participant’s
association with the Company. 
 (g) Death. If a Participant’s employment with the Companies ends during a Bonus Year as a result of the
Participant’s death, any amounts otherwise payable to the Participant for that year shall be paid to the Participant’s Beneficiary in cash (and not in the form of an Annuity Contract). “Beneficiary” shall mean the
individual designated in writing by the 

 
Participant in accordance with these Practices and Procedures to receive any amounts after the date of death of the Participant or, if no such designation
has been made or if no such individual survives the Participant, the Participant’s estate. A Beneficiary designation shall be effective only if it is in writing and received by the Company prior to the date of death of the Participant.

 (h) Indemnification. The Company shall indemnify and hold harmless to the fullest extent permitted by law each member of the Committee and each
director, officer and employee of any of the Companies who are delegated or exercise duties or responsibilities under the Practices and Procedures in respect of any act or omission by any such person in connection with the administration or
implementation of the Practices and Procedures. 
 (i) Amendment and Termination. The Company shall have no obligation to make any payments or to
provide any benefits under the Practices and Procedures after the date the Committee and the Board indicate that no further Annuity Bonuses are to be awarded by the Company. The Company may amend or terminate the Practices and Procedures in whole or
in part at any time and without prior notice to any person by action of the Committee and the Board. 

 Appendix A 
 Schedule of Conversion Factors 
  

			
	 Age
	  	Factor
	 20
	  	0.2837
	 21
	  	0.3064
	 22
	  	0.3309
	 23
	  	0.3574
	 24
	  	0.3860
	 25
	  	0.4169
	 26
	  	0.4502
	 27
	  	0.4862
	 28
	  	0.5251
	 29
	  	0.5671
	 30
	  	0.6125
	 31
	  	0.6615
	 32
	  	0.7141
	 33
	  	0.7715
	 34
	  	0.8332
	 35
	  	0.8999
	 36
	  	0.9719
	 37
	  	1.0497
	 38
	  	1.1337
	 39
	  	1.2241
	 40
	  	1.3224
	 41
	  	1.4282
	 42
	  	1.5425
	 43
	  	1.6659
	 44
	  	1.7992
	 45
	  	1.9431
	 46
	  	2.0986
	 47
	  	2.2665
	 48
	  	2.4478
	 49
	  	2.6436
	 50
	  	2.8551
	 51
	  	3.0835
	 52
	  	3.3302
	 53
	  	3.5966
	 54
	  	3.8843
	 55
	  	4.1950
	 56
	  	4.5306
	 57
	  	4.8930
	 58
	  	5.2844
	 59
	  	5.7072
	 60
	  	6.1638
	 61
	  	6.6569
	 62
	  	7.1894
	 63
	  	7.7646
	 64
	  	8.3858
	 65
	  	9.0567
	 66
	  	8.8069
	 67
	  	8.5539
	 68
	  	8.3004
	 69
	  	8.0477
	 70
	  	7.7965

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]