Executive Life Insurance and Death Benefit Plan – Exxon Mobil Corp.

EXXONMOBIL EXECUTIVE LIFE INSURANCE AND

DEATH BENEFIT PLAN

1. Participation

1.1

Covered Executive

Each covered executive is a participant in this Plan.

1.2

Retiree

(A)

In General

Except as provided in paragraph (B) below, each person who becomes a
retiree on or after the effective date, and who is a covered
executive immediately prior to becoming a retiree is a
participant in this Plan. In addition, each grandfathered retiree
is a participant in the Plan.

(B)

Exception

A retiree will cease to be a participant during the time the
retiree is a suspended retiree.

1.3

Cessation of Participant Status

(A)

Termination of Employment

(1)

In General

Except as provided in paragraphs (2) through (4) below, a covered
executive will cease to be a participant 31 days after the
covered executive terminates employment without becoming a
retiree.

(2)

Exception for Long Term Disability

A covered executive who terminates employment with eligibility for
long-term disability benefits under the ExxonMobil Disability Plan, will cease
to be a participant at the earlier of

(a)

one year after terminating employment, or

(b)

the date the person is no longer eligible for long-term disability benefits
on account of ceasing to be disabled.

(3)

Exception for Coverage Provided Through Death Benefit

If, at the time a covered executive terminates employment he or she
has elected to receive executive life coverage in the form of a death benefit,
the covered executive will cease to be a participant on the date
of such termination of employment.

(4)

Exception for Transition Severance Terminees

(a)

In General

A covered executive who terminates employment without becoming a
retiree shall continue to be a participant for a period of one
year from the date of such termination of employment, but only if the person is
eligible for a benefit under the Exxon Transition Severance Plan, or if the
Corporation, acting through its management, determines that the covered
executive is otherwise eligible for such continued participation.

(b)

Termination of Provision

This paragraph (4) shall not apply to any covered executive who
terminates employment after August 31, 2000.

(B)

Suspended Retirees

A retiree or grandfathered retiree will cease to be a
participant during the time the person is a suspended retiree.

Coverage

2.1

When and How Coverage is Provided

(A)

In General

(1)

Executive Life Coverage

Executive life coverage is automatically provided to all participants
other than grandfathered retirees.

(2)

Supplemental Group Life Coverage

Supplemental group life coverage is automatically provided to all
participants who are grandfathered retirees.

(B)

Life Insurance or Death Benefit Option

(1)

In General

Both executive life coverage and supplemental group life coverage is
automatically provided under the Plan as life insurance unless a
participant elects to receive coverage in the form of a death benefit.

(2)

Election

Participants may, at any time, elect to receive executive life or
supplemental group life coverage, whichever is applicable, as a death benefit,
and may revoke any such election. An election or revocation under this paragraph
(2) shall be made in accordance with procedures established by the
administrator.

(3)

When Election is Effective

(a)

Death Benefit

An election under paragraph (2) above to receive executive life or
supplemental group life coverage as a death benefit shall become effective on
the first of the month following the receipt of such election by the
administrator.

(b)

Revocation of Election

A participant153s revocation of a death benefit election in favor of
receiving executive life or supplemental group life coverage as life insurance
becomes effective on the first of the month following the date the
administrator receives notification from the insurer that the
insurer has, in its discretion, approved evidence of insurability
submitted by the participant.

(4)

Reinstatement of Coverage

If a participant153s executive life or supplemental group life coverage
is reinstated after a period in which the participant was ineligible for
coverage under section 1.3(B) above on account of becoming a suspended
retiree, such coverage shall be reinstated under the option (i.e., life
insurance or a death benefit) in force at the time coverage was lost.

(C)

Termination of Coverage

Executive life or supplemental group life coverage terminates for an
individual on the date the individual ceases to be a participant.

2.2

Amount of Benefit

(A)

Executive Life Coverage

(1)

In General

Except as provided in paragraph (2) below, the amount of executive life
coverage in effect for a participant is equal to the applicable
percentage determined under the following chart multiplied by the
participant153s annual base pay:


If the participant153s age is		The percentage is
Under 65		400%
65-69		350%
70-74		300%
75 and over		250%

For this purpose, a participant attains a particular age as of the
first day of the month in which the person will turn such age. In addition, a
covered executive153s annual base pay is the base pay in effect at the time
coverage is determined, and a retiree153s base pay is the base pay in
effect for the person immediately before the person became a retiree.

(2)

Transition Severance Terminees

The amount of executive life coverage in effect for a person who is a
participant solely on account of section 1.3(A)(4) above relating to
transition severance terminees is 200% of the person153s annual base pay in effect
immediately before the person153s termination of employment.

(B)

Supplemental Group Life Coverage

Supplemental Group Life Coverage is provided

(1)

during retirement to all grandfathered retirees, and

(2)

during employment to those persons who become grandfathered retirees
after the effective date.

The amount of supplemental group life coverage in effect for a
grandfathered retiree is equal to the amount of coverage in effect for
the person under the provisions of the Supplemental Group Life Insurance Plan or
Supplemental Group Death Benefit Plan (as such plans existed on

December 31, 1999) as of the later of December 31, 1999 or the date the
person retires. The amount of supplemental group life coverage in effect during
employment for a person who becomes a grandfathered retiree after the
effective date is the amount of coverage to which they are entitled under
the terms of the Supplemental Group Life Insurance Plan or Supplemental Group
Death Benefit Plan (as such plans existed on December 31, 1999).

3. Payment of Benefit

3.1

Conditions for Payment of Benefit

If a participant dies while executive life or supplemental group life
coverage for that participant is in effect, then the amount of coverage
then in effect for the participant becomes payable; provided, that proof
of death satisfactory to the insurer must be provided before any benefit
becomes payable as life insurance.

3.2

Form of Payment

A benefit payable under Section 3.1 above upon a participant153s death
shall be paid in a lump sum.

3.3

Source of Payment

(A)

Life Insurance

Executive life and supplemental group life coverage in the form of life
insurance shall be provided through one or more policies of insurance issued by
an insurer selected by the Corporation, and any executive life or
supplemental group life benefit payable as insurance shall be paid pursuant to
such policy or policies.

(B)

Death Benefit

Any executive life or supplemental group life benefit payable as a death
benefit shall be paid from the general assets of the Corporation.

3.4

To Whom Paid

A benefit payable under Section 3.1 above upon a participant153s death
shall be paid as follows:

(A)

If a beneficiary designation is in effect at the time of the
participant153s death, the benefit shall be paid in accordance with such
designation.

(B)

If no beneficiary designation is in effect, the benefit shall be paid to the
first of the following groups that has at least one member that survives the
participant:

(1)

The participant153s spouse.

(2)

The participant153s children. In this event, the benefit will be divided
equally among the children who survive the participant as well as the
children who die before the participant leaving children of their own who
survive the participant. In the case of a participant153s child who
dies before the participant leaving children of his or her own who
survive the participant, such child153s share shall be divided equally
among his or her surviving children.

(3)

The participant153s parents. In this event, the benefit will be divided
equally among the parents if they both survive the participant.

(4)

The participant153s brothers and sisters. In this event, the benefit
will be divided equally among the brothers and sisters who survive the
participant as well as the brothers and sisters who die before the
participant leaving children of their own who survive the
participant. In the case of a brother or sister who dies before the
participant leaving children of his or her own who survive the
participant, such brother or sister153s share shall be divided equally
among his or her surviving children.

(5)

The participant153s executors or administrators.

For purposes of this Paragraph (B), a spouse of a participant shall
include only someone who is the legal spouse of the participant, and a
child, parent, brother, or sister of a participant shall include only
someone who is a legitimate blood relative of the participant or whose
relationship with the participant is established by virtue of a legal
adoption.

4. Designation of Beneficiary

4.1

Designation

A participant may designate one or more beneficiaries to receive the
payment of benefits upon the death of the participant, or may at any time
change or cancel a previously made beneficiary designation.

4.2

Forms and Submission

Any beneficiary designation or change or cancellation thereof shall be made
on such forms and in such manner as is satisfactory to the insurer. No
beneficiary designation or change or cancellation thereof shall become effective
until received by the insurer or its designated agent.

4.3

Designation Made Under Prior Plans

Any beneficiary designation made by a participant under the
Supplemental Group Life Insurance Plan or Supplemental Death Benefit Plan that
remains in effect on December 31, 1999, shall continue to be valid under this
Plan on and after the effective date until and unless properly
superceded.

5. Miscellaneous

5.1

Plan Funding

The funding for executive life and supplemental group life coverage,
including the funding of premiums under any life insurance policy issued in
connection with such coverage, shall be paid for by the Corporation; no
participant contributions will be required or permitted.

5.2

Assignment of Insurance

(A)

Assignment

A participant may assign to another owner the participant153s
interest in his or her executive life or supplemental group life coverage
provided in the form of life insurance. Such assignment shall be made on such
forms and in such manner as is acceptable to the administrator and the
insurer.

(B)

Effect of Assignment

(1)

In General

When an assignment of a participant153s coverage is in effect as
described in paragraph (A) above, then, except as provided in paragraph (2)
below, the participant153s assignee shall have the right to take all
actions under the terms of this Plan with respect to such coverage that the
participant would otherwise have the right to take, including, without
limitation, the right to designate a beneficiary.

(2)

Exception

An assignee shall not have the right under this Plan to elect to receive
executive life or supplemental group life coverage as a death benefit under
section 2.1(B)(2) above or to revoke an already existing election.

(C)

Assignment Under Prior Plan

Any assignment of coverage made by a participant under the
Supplemental Group Life Insurance Plan shall continue to be valid under this
Plan with respect to executive life and supplemental group life coverage.

5.3

Amendment and Termination

The Corporation at any time, by action of any duly authorized officer,
may amend or terminate this Plan in whole or in part.

5.4

Responsibilities and Authority of Administrator

The administrator shall fulfill all duties and responsibilities of a
“plan administrator” required by the Employee Retirement Income Security Act of
1974, as amended. The administrator shall have the authority to control
and manage the operation and administration of this Plan, including, without
limitation:

(A)

discretionary and final authority to determine eligibility and to administer
this Plan in its application to each participant and beneficiary; and

(B)

discretionary and final authority to interpret this Plan, in whole or in
part, including but not limited to, exercising such authority in conducting a
full and fair review, with such interpretation being conclusive for all
participants and beneficiaries under this Plan.

5.5

Claim Appeal Process

(A)

Submission of Appeal

In the event a claim for benefits is denied, the claimant has the right to
appeal to the administrator. A written request to review a denied claim
must be received by the administrator within 90 days after the claim
denial. The request may state the reasons the claimant believes he or she is
entitled to Plan benefits, and may be accompanied by supporting information and
documentation for the administrator153s consideration.

(B)

Decision

The administrator shall decide appeals in accordance with the
administrator153s fiduciary authority set out in section 5.4 above. Appeal
decisions will be made within 60 days of the receipt of the claim by the
administrator unless special circumstances warrant an extension of time.
If an extension of time is required, the administrator will notify the
claimant of the extension. In all cases, the decision will be made no later than
120 days after the receipt of the claim by the administrator. The appeal
decision shall be in writing, specify the reasons for the decision, and refer to
the relevant Plan provision(s) on which the decision is based.

5.6

Definitions

The following terms shall have the following meanings ascribed to them:

(A)

“Administrator” means the Manager, Compensation and Executive Plans, Human
Resources Department, Exxon Mobil Corporation.

(B)

“Corporation” means Exxon Mobil Corporation.

(C)

“Covered Employee” has the meaning set out in the ExxonMobil Benefit Plans
Common Provisions.

(D)

“Covered Executive” means a covered employee who has a classification
level of 35 or higher; provided, however, that the group of covered
executives shall be frozen as of September 30, 2007, and no individual shall
become a covered executive on or after October 1, 2007.

(E)

“Effective Date” means January 1, 2000.

(F)

“Grandfathered retiree” means a person who

(1)

became a retiree prior to the effective date, and was covered
under the Supplemental Group Life Insurance Plan or Supplemental Death Benefit
Plan immediately prior to the effective date, or who

(2)

becomes a retiree after the effective date after having been
given the opportunity to elect and having elected continued coverage under the
Supplemental Group Life Insurance Plan or Supplemental Death Benefit Plan.

(G)

“Insurer” means the insurance company that is the issuer of the policy of
insurance described in section 3.3(A) above.

(H)

“Participant” means a covered executive, retiree, or
grandfathered retiree, as the context requires.

(I)

“Retiree”

(1)

In General

“Retiree” has the meaning set out in the ExxonMobil Benefit Plans Common
Provisions.

(2)

Transition Severance Cases

(a)

Treatment as Covered Annuitant

Solely for purposes of this Plan, a person who is described in paragraph (b)
below shall be treated as if he or she were a retiree.

(b)

Eligibility

A person is described in this paragraph (b) if the person

(i)

terminates employment as a covered executive;

(ii)

is at least 50 years old by the end of the month in which the termination of
employment occurs;

(iii)

has at least 10 years of benefit plan service (as defined in the ExxonMobil
Benefit Plans Common Provisions) at the time of the termination of employment;
and

(iv)

upon termination of employment receives a benefit under the Exxon Transition
Severance Plan.

(c)

Termination of Provision

This paragraph (2) shall not apply to any person who fails to meet the
eligibility requirements set out in paragraph (b) above on or before August 31,
2000.

(J)

“Suspended retiree”

(1)

In General

“Suspended Retiree” means a person who becomes a retiree by virtue of
being incapacitated within the meaning of the ExxonMobil Disability Plan and
commences long-term disability benefits under such Plan, but whose benefits
under such Plan thereafter cease by virtue of

(a)

the person no longer being incapacitated, or

(b)

the person153s failure to report non-rehabilitative employment.

(2)

Period

A person remains a suspended retiree until the earlier of (1) the date
the person attains age 55, or (2) the date the person commences his or her
benefit or receives a lump-sum settlement under the ExxonMobil Pension Plan, at
which time the person is again considered a retiree.

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