{"id":40704,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/supplementary-pension-plan-ge.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"supplementary-pension-plan-ge","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/supplementary-pension-plan-ge.html","title":{"rendered":"Supplementary Pension Plan – GE"},"content":{"rendered":"

GE Supplementary <\/strong><\/p>\n

Pension Plan <\/strong><\/p>\n

Effective January 1, 2011 <\/strong><\/p>\n

Introduction <\/u><\/strong><\/p>\n

The GE Supplementary Pension Plan shall consist of two parts as set forth
\nherein. Part I describes Supplementary Pension Annuity Benefits, and Part II
\ndescribes Executive Retirement Installment Benefits.<\/p>\n

Notwithstanding any other provision to the contrary, effective January 1,
\n2011, Part I of the Plan is closed. Accordingly, an Employee shall be eligible
\nfor a Supplementary Pension Annuity Benefit only if he participated in this Plan
\non or before December 31, 2010 (and shall actually receive such benefit only if
\nhe meets all the other applicable requirements therefor). For purposes of
\ndetermining whether an Employee participated in the Plan on or before
\nDecember 31, 2010: (a) any period of service described in Section XV(b) shall be
\ndisregarded and (b) an Employee shall be deemed to have met such requirement if
\nhe waived participation in the GE Pension Plan, but was otherwise eligible to
\nparticipate in this Plan and is not an Excluded Employee under the GE Pension
\nPlan.<\/p>\n

Part I and Part II of the Plan provide mutually exclusive benefits, and
\neligible Employees shall earn their entire benefits under the Plan either under
\nPart I or Part II, but not both. Consistent with the foregoing, and subject to
\nthe service disregard rule in Section XV(b) and to the deemed participation rule
\ndescribed in (b) of the preceding paragraph, an Employee who first participates
\nin this Plan under Part II may only participate under Part II, and an Employee
\nwho first participated in this Plan under Part I may only participate under Part
\nI.<\/p>\n

The Pension Board may adopt such rules as it deems necessary to determine
\nwhich Part of the Plan applies to which Employees.<\/p>\n

As described in Section XXIII, certain provisions of Part I apply to Part II,
\nbut no provisions of Part II apply to Part I (except that, as described above,
\nthe service disregard rule in Section XV(b) shall apply in determining which
\nPart of the Plan applies to which Employees).<\/p>\n<\/p>\n

\n

Part I: Supplementary Pension Annuity Benefits
\n<\/u><\/strong><\/p>\n

(closed to new participants) <\/strong><\/p>\n

As more fully described in the Introduction (and subject to the rules
\nthereof), this Part I of the Plan is closed effective January 1, 2011, and an
\nEmployee shall be eligible to participate under this Part I (and not Part II)
\nonly if he participated in the Plan on or before December 31, 2010 (and shall
\nactually receive a benefit under this Part only if he meets all the other
\napplicable requirements therefor).<\/p>\n

Section I. <\/strong><\/p>\n

Eligible Employees <\/strong><\/p>\n

Each Employee who is assigned to the GE Executive or higher Career Band (or a
\nposition of equivalent responsibility as determined by the Pension Board), who
\nhas five or more years of Pension Qualification Service and who is a participant
\nin the GE Pension Plan shall be eligible to participate, and shall participate,
\nin this Supplementary Pension Plan to the extent of the benefits provided
\nherein, provided that:<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

the foregoing shall not apply to an Employee of a Company other than General
\nElectric Company which has not agreed to bear the cost of this Plan with respect
\nto its Employees, and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

except as provided in Section V, an Employee who retires under the optional
\nretirement provisions of the GE Pension Plan before the first day of the month
\nfollowing attainment of age 60, or an Employee who leaves the Service of the
\nCompany before attainment of age 60, shall not be eligible for a Supplementary
\nPension under this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

An employee of any other company who participates in the GE Pension Plan,
\nthough the employing company does not participate in the GE Pension Plan, shall
\nbe eligible for benefits under this Plan, provided that such employee meets the
\njob position requirement specified above, and the employee153s participation in
\nthe Supplementary Pension Plan is accepted by the Pension Board.<\/p>\n

An Employee who was eligible to participate in this Plan by virtue of his
\nassigned position level or position of equivalent responsibility throughout any
\nconsecutive three years of the fifteen year period ending on the last day of the
\nmonth preceding his termination of Service date for retirement and who meets the
\nother requirements specified in this Section shall be eligible for the benefits
\nprovided herein even though he does not meet the eligibility requirements on the
\ndate his Service terminates.<\/p>\n

The Chief Executive Officer of General Electric Company, or his delegate, may
\napprove the continued participation in the Plan of an individual who is
\nlocalized outside the United States as an employee of the Company or an
\nAffiliate and who otherwise meets all of the eligibility conditions set forth
\nherein during such localization. The designated individual153s service and pay
\nwhile localized, with appropriate offsets for local country<\/p>\n<\/p>\n

2<\/p>\n<\/p>\n

\n

benefits, shall be counted in calculating his Supplementary Pension. Such
\ncalculation and the individual153s entitlement to any benefits herein shall be
\ndetermined consistent with the principles of the Plan as they apply to
\nparticipants who are not localized, provided that the Chief Executive Officer,
\nor his delegate, may direct such other treatment, if any, as he deems
\nappropriate.<\/p>\n

Section II. <\/strong><\/p>\n

Definitions <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

Annual Estimated Social Security Benefit – The Annual Estimated Social
\nSecurity Benefit shall mean the annual equivalent of the maximum possible
\nPrimary Insurance Amount payable, after reduction for early retirement, as an
\nold-age benefit to an employee who retired at age 62 on January 1st of the
\ncalendar year in which occurred the Employee153s actual date of retirement or
\ndeath, whichever is earlier; provided, however, that in the case of an Employee
\nwho is a New Plan Participant on the date of his termination of Service, age 65
\nshall be substituted for age 62 above. Such Annual Estimated Social Security
\nBenefit shall be determined by the Company in accordance with the Federal Social
\nSecurity Act in effect at the end of the calendar year immediately preceding
\nsuch January 1st.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For determinations which become effective on or after January 1, 1978, if an
\nEmployee has less than 35 years of Pension Benefit Service, the Annual Estimated
\nSocial Security Benefit shall be the amount determined under the first paragraph
\nof this definition hereof multiplied by a factor, the numerator of which shall
\nbe the number of years of the Employee153s Pension Benefit Service to his date of
\nretirement or death, whichever is earlier, and the denominator of which shall be
\n35.<\/p>\n

The Annual Estimated Social Security Benefit as so determined shall be
\nadjusted to include any social security, severance or similar benefit provided
\nunder foreign law or regulation as the Pension Board may prescribe.<\/p>\n<\/p>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

Annual Pension Payable under the GE Pension Plan – The Annual Pension Payable
\nunder the GE Pension Plan shall mean the sum of (1) the total annual past
\nservice annuity, future service annuity and Personal Pension Account Annuity
\ndeemed to be credited to the Employee as of his date of retirement or death,
\nwhichever is earlier, plus any additional annual amount required to provide the
\nminimum pension under the GE Pension Plan and (2) any annual pension (or the
\nannual pension equivalent of other forms of payment) payable under any other
\npension plan, policy, contract, or government program attributable to periods
\nfor which Pension Benefit Service is granted by the Chairman of the Board or the
\nPension Board or is credited by the GE Pension Plan provided the Pension Board
\ndetermines such annual pension shall be deductible from the benefit payable
\nunder this Plan. All such amounts shall be determined before application of any
\nreduction factors for optional or disability retirement, for election of any
\noptional form of Pension at retirement, a qualified domestic relations order(s),
\nif any, or in connection with any other adjustment made pursuant to the GE
\nPension Plan or any other pension plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

3<\/p>\n<\/p>\n

\n

For the purposes of this paragraph, the Employee153s Annual Pension Payable
\nunder the GE Pension Plan shall include the Personal Pension Account Annuity
\ndeemed payable to the Employee or the Employee153s spouse on the date of the
\nEmployee153s retirement or death as the case may be, regardless of whether such
\nannuity commenced on such date.<\/p>\n<\/p>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

Annual Retirement Income – For Employees who retire on or after July 1, 1988
\nor who die in active Service on or after such date, an Employee153s Annual
\nRetirement Income shall mean the amount determined by multiplying 1.75% of the
\nEmployee153s Average Annual Compensation by the number of years of Pension Benefit
\nService completed by the Employee at the date of his retirement or death,
\nwhichever is earlier.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

Average Annual Compensation – Average Annual Compensation means one-third of
\nthe Employee153s Compensation for the highest 36 consecutive months during the
\nlast 120 completed months before his date of retirement or death, whichever is
\nearlier. In computing an Employee153s Average Annual Compensation, his normal
\nstraight-time earnings shall be substituted for his actual Compensation for any
\nmonth in which such normal straight-time earnings are greater. The Pension Board
\nshall specify the basis for determining any Employee153s Compensation for any
\nportion of the 120 completed months used to compute the Employee153s Average
\nAnnual Compensation during which the Employee was not employed by an Employer
\nparticipating in this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(e)<\/p>\n<\/td>\n

\n

Compensation – For periods after December 31, 1969, “Compensation” for the
\npurposes of this Plan shall mean with respect to the period in question salary
\n(including any deferred salary approved by the Pension Board as compensation for
\npurposes of this Plan) plus:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

for persons then eligible for Incentive Compensation, the total amount of any
\nIncentive Compensation earned except to the extent such Incentive Compensation
\nis excluded by the Board of Directors or a committee thereof;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

for persons who would then have been eligible for Incentive Compensation if
\nthey had not been participants in a Sales Commission Plan or other variable
\ncompensation plan, the total amount of sales commissions (or other variable
\ncompensation earned);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

for all other persons, the sales commissions and other variable compensation
\nearned by them but only to the extent such earnings were then included under the
\nGE Pension Plan;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

4<\/p>\n<\/p>\n

\n

plus any amounts (other than salary and those mentioned in clauses
\n(1) through (3) above) which were then included as Compensation under the GE
\nPension Plan except any amounts which the Pension Board may exclude from the
\ncomputation of “Compensation” and subject to the powers of the Committee under
\nSection IX hereof.<\/p>\n

For periods before January 1, 1970, “Compensation” for the purposes of this
\nPlan has the same meaning as under the GE Pension Plan applying the rules in
\neffect during such periods.<\/p>\n

The definition set forth in this paragraph (e) shall apply to the calculation
\nof any and all Supplementary Pension benefits payable on and after January 1,
\n1976. All such payments made prior to January 1, 1976 shall be determined in
\naccordance with the terms of the Plan in effect prior to such date.<\/p>\n

Notwithstanding any provision of the Plan to the contrary, in no event will
\nIncentive Compensation, commissions and similar variable compensation paid after
\nthe end of the calendar year in which the Employee153s Service terminates be
\ndisregarded as Compensation hereunder as a result of the exclusion of such
\nremuneration from Compensation under the GE Pension Plan pursuant to the last
\nsentence of the first paragraph of the definition of “Compensation” set forth in
\nSection XXVI therein.<\/p>\n<\/p>\n\n\n\n
\n

(f)<\/p>\n<\/td>\n

\n

Grandfathered Employee – Grandfathered Employee means an Employee who did not
\naccrue or acquire a non-forfeitable interest in any benefits hereunder on or
\nafter January 1, 2005.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(g)<\/p>\n<\/td>\n

\n

Grandfathered Plan Benefit – Grandfathered Plan Benefit means:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

in the case of Grandfathered Employees, their entire Supplementary Pension
\nhereunder.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

in the case of Grandfathered Specified Employees, the accrued,
\nnon-forfeitable annuity to which the Grandfathered Specified Employee would have
\nbeen entitled under this Plan if the Grandfathered Specified Employee
\nvoluntarily terminated employment on December 31, 2004, and received a payment
\nof the benefits available from this Plan (A) on the earliest possible date
\nallowed under this Plan to receive a payment of benefits following Separation
\nfrom Service, and (B) in any payment form permitted under the GE Pension Plan on
\nDecember 31, 2004. If a Grandfathered Specified Employee elects to receive
\nbenefits in the form of a 75% Alternative Survivor Benefit under the principles
\nof Section IX.10 of the GE Pension Plan, then his Grandfathered Plan Benefit
\nwith respect to such form of distribution shall be the portion attributable to
\nhis accrued benefit as of December 31, 2004 as determined above and based on the
\nmethodology set forth in Section IX.10 of the GE Pension Plan for converting
\nbenefits to this form of distribution.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

5<\/p>\n<\/p>\n

\n\n\n\n
\n

(h)<\/p>\n<\/td>\n

\n

Grandfathered Specified Employee – Grandfathered Specified Employee means a
\nSpecified Employee determined as of December 31, 2008 who had a non-forfeitable
\ninterest hereunder as of December 31, 2004.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(i)<\/p>\n<\/td>\n

\n

Non-Grandfathered Plan Benefit – Non-Grandfathered Plan Benefit means all of
\nthe Supplementary Pension payable under this Plan except for the Grandfathered
\nPlan Benefit.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(j)<\/p>\n<\/td>\n

\n

Officers – Officers shall mean the Chairman of the Board, the Vice Chairmen,
\nthe President, the Vice Presidents, Officer Equivalents and such other Employees
\nas the Committee referred to in Section IX hereof may designate.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(k)<\/p>\n<\/td>\n

\n

Pension Benefit Service – Pension Benefit Service shall have the same meaning
\nherein as in the GE Pension Plan except that for periods before January 1, 1976,
\nthe term Credited Service as a full-time Employee shall also include all Service
\ncredited under the GE Pension Plan to such Employee for any period during which
\nhe was a full-time Employee for purposes of such GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Pension Benefit Service shall also include:<\/p>\n<\/p>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

any period of Service with the Company or an Affiliate as the Pension Board
\nmay otherwise provide by rules and regulations issued with respect to this Plan,
\nand,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

any period of service with another employer as may be approved from time to
\ntime by the Chairman of the Board but only to the extent that any conditions
\nspecified in such approval have been met.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(l)<\/p>\n<\/td>\n

\n

Pension Qualification Service – Pension Qualification Service shall have the
\nsame meaning herein as in the GE Pension Plan except that for periods before
\nJanuary 1, 1976 the term Credited Service used in determining such Pension
\nQualification Service shall mean only Service for which an Employee is credited
\nwith a past service annuity or a future service annuity under the GE Pension
\nPlan (plus his first year of Service where such year is recognized as additional
\nCredited Service under that Plan), except as the Pension Board may otherwise
\nprovide by rules and regulations issued with respect to this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(m)<\/p>\n<\/td>\n

\n

Separation from Service – Separation from Service means an Employee153s
\ntermination of employment with the Company and all Affiliates (defined for
\npurposes of this Plan as any company or business entity in which General
\nElectric Company has a 50% or more interest whether or not a participating
\nemployer in the Plan); provided that, Separation from Service for purposes of
\nthe Plan shall be interpreted consistent with the requirements of Section 409A
\nand regulations and other guidance issued thereunder. For purposes of clarity,
\nany references in this Plan to Service in the context of determining the time or
\nform of benefits will not extend beyond an Employee153s Separation from Service.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

6<\/p>\n<\/p>\n

\n\n\n\n
\n

(n)<\/p>\n<\/td>\n

\n

Specified Employee – Specified Employee means a specified employee as
\ndescribed in the Company153s Procedures for Determining Specified Employees under
\nCode Section 409A, as amended from time to time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

All other terms used in this Plan which are defined in the GE Pension Plan
\nshall have the same meanings herein as therein, unless otherwise expressly
\nprovided in this Plan.<\/p>\n

Section III. <\/strong><\/p>\n

Amount of Supplementary Pension at or After Normal
\nRetirement <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

The annual Supplementary Pension payable to an eligible Employee who retires
\non or after his normal retirement date within the meaning of the GE Pension Plan
\nshall be equal to the excess, if any, of the Employee153s Annual Retirement
\nIncome, over the sum of:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

the Employee153s Annual Pension Payable under the GE Pension Plan;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

 1<\/sup><\/p>\n

\/2 of the Employee153s Annual Estimated Social Security Benefit;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

the Employee153s annual excess benefit, if any, payable under the GE Excess
\nBenefit Plan; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(4)<\/p>\n<\/td>\n

\n

The Employee153s annual benefit, if any, payable under the GE Executive Special
\nEarly Retirement Option and Plant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Such Supplementary Pension shall be subject to the limitations specified in
\nSection IX.<\/p>\n<\/p>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The Supplementary Pension of an Employee who continues in the Service of the
\nCompany or an Affiliate after his normal retirement date shall not commence
\nbefore his actual retirement date following Separation from Service, regardless
\nof whether such Employee has attained age 70- 1<\/sup>\/2 and commenced
\nreceiving his pension under the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

Consistent with established Company procedures, if an eligible Employee
\ncommences his Supplementary Pension at the time set forth in Section X(a) but
\nremains in protected service for other purposes by reason of not also retiring
\nunder the GE Pension Plan, his initial Supplementary Pension Plan benefit shall
\nbe based on his service credits earned up to the commencement date of his
\nSupplementary Pension Plan benefit. Following the eligible Employee153s break in
\nprotected service, the dollar amount (but not the time or form of distribution)
\nof the eligible Employee153s Supplementary Pension Plan benefit shall be adjusted
\nconsistent with such procedures to take into account any additional service
\ncredits the eligible Employee may have earned under the GE Pension Plan and any
\nrelated offsets.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

7<\/p>\n<\/p>\n

\n

Section IV. <\/strong><\/p>\n

Amount of Supplementary Pension at Optional or
\nDisability Retirement <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

The annual Supplementary Pension payable to an eligible Employee who,
\nfollowing attainment of age 60, retires hereunder on an optional retirement date
\nwithin the meaning of Section V.1. of the GE Pension Plan shall be computed in
\nthe manner provided by Section III(a) (for an Employee retiring on his normal
\nretirement date) but taking into account only Pension Benefit Service and
\nAverage Annual Compensation to the actual date of optional retirement. Such
\nSupplementary Pension shall be subject to the limitations specified in Section
\nIX. In the event such Employee is a New Plan Participant on the date of his
\ntermination of Service, such Supplementary Pension, as so limited, shall be
\nreduced to reflect commencement before his normal retirement date by applying
\nthe methodology provided under Section V.3. of the GE Pension Plan. Consistent
\nwith the foregoing, such reduction shall equal 5\/12% for each month from such
\nEmployee153s optional retirement date to his normal retirement date. Said
\nreduction shall not be imposed, however, in the event such Employee terminates
\nfrom the Service of the Company on or after (1) attainment of at least age 62
\nand (2) completion of at least 25 years of Pension Qualification Service under
\nthe GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The annual Supplementary Pension payable to an eligible Employee who retires
\non a Disability Pension under Section VII of the GE Pension Plan and who
\nqualifies as disabled by receiving income replacement benefits under a Company
\nplan for a period of not less than three months and otherwise meeting the
\nrequirements under Treasury regulation section 1.409A-3(i)(4) and regulations
\nand other guidance issued thereunder shall first be computed in the manner
\nprovided by Section III(a) (for an Employee retiring on his normal retirement
\ndate) taking into account only Pension Benefit Service and Average Annual
\nCompensation to the actual date of disability retirement. Such Supplementary
\nPension shall be subject to the limitations specified in Section IX. Such
\nSupplementary Pension, as so limited, shall be reduced to reflect commencement
\nbefore the Employee153s earliest optional retirement age by applying the
\nmethodology provided under Section VII.3. of the GE Pension Plan, subject to
\nSection X(a)(3)(A)(ii) below.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

If the Disability Pension payable to the Employee under the GE Pension Plan
\nis discontinued thereunder as a result of the cessation of the Employee153s
\ndisability prior to the attainment of age 60, the Supplementary Pension provided
\nunder this Section IV(b) shall be forfeited and the Employee shall only be
\neligible for a Supplementary Pension to the extent he separately qualifies under
\nanother provision set forth herein.<\/p>\n<\/p>\n

8<\/p>\n<\/p>\n

\n

Section V. <\/strong><\/p>\n

Special Benefit Protection for Certain Employees
\n<\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

A former Employee whose Service with the Company is terminated on or after
\nJune 27, 1988, before attainment of age 60 and after completion of 25 or more
\nyears of Pension Qualification Service who does not withdraw his contributions
\nfrom the GE Pension Plan before retirement and who meets one of the following
\nconditions shall be eligible for a Supplementary Pension under this Plan
\ncommencing at the time set forth in Section X.(a).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

The Employee153s Service is terminated because of a Plant Closing.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

The Employee153s Service is terminated for transfer to a Successor Employer.
\nThe conditions of this paragraph (2) shall not be satisfied, however, if the
\ntransferred Employee retires under the GE Pension Plan before July 1, 2000 and
\nprior to the later of (A) his termination of service with the Successor Employer
\nand (B) the first of the month following attainment of age 60.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

The Employee153s Service terminated after one year on layoff with protected
\nservice.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Effective July 1, 1994 and regardless of whether the Employee terminated
\nService on, before or after such date, for purposes of this Section V(a) and any
\nother provision of this Plan, a former Employee will be deemed to have withdrawn
\nhis contributions from the GE Pension Plan at such time the payment of benefits
\nattributable to such contributions commences, regardless of whether such
\ncontributions are paid in the form of a lump sum or an annuity.<\/p>\n<\/p>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The Supplementary Pension, if any, for Employees who meet the conditions in
\nSection V(a) shall be calculated in accordance with the provisions of Section
\nIV(a), including the imposition of the reduction described therein to reflect a
\ncommencement date occurring before normal retirement date in the case of
\nEmployees who are New Plan Participants on the date of their termination of
\nService. For purposes of making this calculation, the Employee153s: (1) Pension
\nBenefit Service to the Service termination date shall be considered; (2) Average
\nAnnual Compensation shall be based on the last 120 completed months before such
\nService termination date; and (3) Annual Estimated Social Security Benefit shall
\nbe determined as though the Employee153s retirement date was such Service
\ntermination date.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

No Supplementary Pension shall be payable to any former Employee who elects
\nto accelerate the commencement of his pension under the GE Pension Plan under
\nSection XI.4.b(iii) therein, nor shall any death or survivor benefits be payable
\nhereunder with respect to such an Employee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

9<\/p>\n<\/p>\n

\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

In the event a former Employee whose service with the Company was terminated
\nunder circumstances entitling him to a benefit pursuant to this Section V is
\nreemployed, such Employee will retain a non-forfeitable interest in a benefit
\nequal to the amount payable under this provision attributable to such Employee153s
\nfirst period of service (with the calculation of any offsets determined in
\naccordance with established administrative practices and based upon assumptions
\nin effect as of such Employee153s first termination date). The same principle
\nshall apply in determining the non-forfeitable interest hereunder of
\nsimilarly-situated Employees with less than 25 years of Pension Qualification
\nService who, as a result of Company action, attained a non-forfeitable interest
\nin their Supplementary Pension upon transfer to a successor employer and are
\nsubsequently re-employed by the Company.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section VI. <\/strong><\/p>\n

Survivor Benefits <\/strong><\/p>\n

If a survivor benefit applies with respect to an Employee153s Supplementary
\nPension pursuant to Section X below, his Supplementary Pension shall be reduced
\nin the same manner as the pension payable under the GE Pension Plan is reduced
\nunder such circumstances in accordance with the principles of Section IX of the
\nGE Pension Plan.<\/p>\n

Section VII. <\/strong><\/p>\n

Payments Upon Death <\/strong><\/p>\n

If an eligible Employee dies in active Service or following retirement on a
\nSupplementary Pension, or if a former Employee entitled to a Supplementary
\nPension pursuant to Section V dies prior to such retirement, (1) the principles
\nof Section X of the GE Pension Plan (disregarding any references therein to
\nEmployee contributions) shall apply to determine whether a death benefit is
\npayable to the beneficiary or Surviving Spouse of such Employee under this
\nSupplementary Pension Plan, and (2) any such death benefit shall be computed and
\npaid in accordance with such principles, based on the Supplementary Pension
\npayable under this Plan; provided, however, that:<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

with respect to any pre-retirement death benefit attributable to
\nNon-Grandfathered Plan Benefits where a Surviving Spouse otherwise would have a
\nchoice to receive such benefit as an annuity in accordance with the principles
\nof Section X.9 of the GE Pension Plan (Preretirement Spouse Benefit) or as a
\nlump sum in accordance with the principles of either Section X.2 (Five Year
\nCertain (Death After Optional Retirement Age)) or Section X.3 (Five Year Certain
\n(Death After 15 Years Pension Qualification Service)) of the GE Pension Plan,
\nthe lump sum value of such benefit under each applicable paragraph shall be
\ndetermined (in the case of the Preretirement Spouse Benefit, based on the
\nactuarial assumptions described in paragraph 3 of Section XV of the GE Pension
\nPlan), and then the Surviving Spouse shall receive whichever resulting lump sum
\nvalue is larger as of the first day of the<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

10<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

month following the Employee153s death. For purposes of clarity, such Surviving
\nSpouse shall not be eligible to receive an annuity in the form of the
\nPreretirement Spouse Benefit under the principles of Section X.9 of the GE
\nPension Plan; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

\n

with respect to any post-retirement death benefit attributable to
\nNon-Grandfathered Plan Benefits under the principles of Section X.11 of the GE
\nPension Plan (Five Year Certain (No Survivor Benefit)), the calculation of the
\nlump sum shall be determined without making any discount to present value.
\nConsistent with the foregoing, such lump sum shall equal the excess of (1) 5
\ntimes the Employee153s Supplementary Pension payable as a single life annuity over
\n(2) the total payments under this Plan to the Employee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section VIII. <\/strong><\/p>\n

Employees Retired Before July 1, 1973 <\/strong><\/p>\n

[Reserved-See Section VIII of this Plan prior to this reservation.]<\/p>\n

Section IX. <\/strong><\/p>\n

Limitation on Benefits <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

Notwithstanding any provision of this Plan to the contrary, if the sum of:\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

the Supplementary Pension otherwise payable to an Employee hereunder;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

the Employee153s Annual Pension Payable under the GE Pension Plan;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

100% of the Annual Estimated Social Security Benefit but before any
\nadjustment for less than 35 years of Pension Benefit Service;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(4)<\/p>\n<\/td>\n

\n

the Employee153s annual excess benefit, if any, payable under the GE Excess
\nBenefit Plan; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(5)<\/p>\n<\/td>\n

\n

The Employee153s annual benefit, if any, payable under the GE Executive Special
\nEarly Retirement Option and Plant Closing Retirement Option Plan;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

exceeds 60% of his Average Annual Compensation (with such Supplementary
\nPension and the amounts set forth in (2), (4) and (5) above determined before
\nimposition of any applicable reduction factor or adjustment for optional or
\ndisability retirement, a survivor benefit or otherwise), such Supplementary
\nPension (as so determined) shall be reduced by the amount of the excess. Any
\nfurther reductions or adjustments prescribed herein, including those applicable
\nto Employees who are New Plan Participants on the date of their termination of
\nService, shall be applied against such reduced Supplementary Pension.<\/p>\n<\/p>\n

11<\/p>\n<\/p>\n

\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

Notwithstanding any provision in this Plan (other than Section XIV(e)) to the
\ncontrary, the amount of Supplementary Pension and any death or survivor benefit
\npayable to or on behalf of any Employee who is or was an Officer shall be
\ndetermined in accordance with such general rules and regulations as may be
\nadopted by a Committee appointed by the Board of Directors for such purpose,
\nsubject to the limitation that any such Supplementary Pension or death benefit
\nmay not exceed the amount which would be payable hereunder in the absence of
\nsuch rules and regulations.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section X. <\/strong><\/p>\n

Payment of Supplementary Pension Benefits <\/strong>\n<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

Time and Form of Payment. <\/strong><\/p>\n

This Section governs the time and form of payment of the Supplementary
\nPension on and after the retirement of an eligible Employee. See Section VII
\nabove for certain additional rules regarding Payments on Death.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

General Provisions. <\/strong><\/p>\n

Supplementary Pensions shall be payable in monthly installments, each equal
\nto 1\/12th of the annual amount determined under the applicable Section. In
\naddition, the provisions of the GE Pension Plan with respect to the following
\nshall apply to amounts payable under this Plan:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(A) The date of the last payment of any Supplementary Pension.<\/p>\n

(B) Treatment of amounts payable to a missing person.<\/p>\n

In no event shall the accelerated payment option of Section XI.4.b(iii) of
\nthe GE Pension Plan apply with respect to this Plan.<\/p>\n<\/p>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

Grandfathered Plan Benefits. <\/strong><\/p>\n

Payment of Supplementary Pensions provided for herein which are attributable
\nto Grandfathered Plan Benefits shall be in the same form and commence as of the
\nsame date as distribution is made pursuant to the Participant153s election under
\nthe GE Pension Plan (subject to the special rule in Section III(b) of this Plan
\nfor Employees over age 70- 1<\/sup>\/2).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

Non-Grandfathered Plan Benefits.<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(A) Time of Payment.<\/strong><\/p>\n<\/p>\n\n\n\n
<\/td>\n\n

(i)<\/p>\n<\/td>\n

\n

Except as provided in paragraph (ii) below (relating to
\ndisability pensions), all payments of Non-Grandfathered Plan Benefits shall
\ncommence on the first day of the month after the Employee153s Separation from
\nService or the Employee153s attainment of age 60, if later; provided, however,
\nthat if an Employee is a Specified Employee, payment of any Non-Grandfathered
\nPlan Benefit shall not be made within the first six months following the
\nEmployee153s Separation from Service. In the event distribution to a<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

12<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

Specified Employee is so delayed, payment of the Non-Grandfathered Plan
\nBenefit shall begin on the first day of the seventh month following Separation
\nfrom Service and the first such payment shall be increased to reflect the missed
\npayments (with interest accumulated in accordance with Pension Board
\nprocedures).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(ii)<\/p>\n<\/td>\n

\n

Payment of Supplementary Pensions attributable to disability as provided for
\nin Section IV(b) shall commence on the first day of the month after the
\nEmployee153s Separation from Service; provided, however, that the Employee shall
\nforfeit any payments attributable to months prior to the first date on which a
\nDisability Pension is actually paid under Section VII of the GE Pension Plan.
\nFor this purpose, any retroactive payments that may be made under the GE Pension
\nPlan shall be disregarded and no corresponding retroactive payments shall be
\nmade hereunder. However, if retroactive payments are made under the GE Pension
\nPlan, the reduction factor to be applied against the Supplementary Pension to
\nreflect early commencement for disability shall be based on the date as of which
\nthe first retroactive payment, if any, is made under the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(B)<\/p>\n<\/td>\n

Form of Payment. <\/strong><\/p>\n

Unless an Employee makes an effective election pursuant to paragraph (B)(i)
\nbelow, such benefits shall be paid as a 50% Survivor Benefit in accordance with
\nthe principles of Section IX.1 and other provisions of the GE Pension Plan
\napplicable thereto (for Employees who are married at the time their
\nSupplementary Pension begins) or as a single life annuity in accordance with the
\nprinciples of Section XV, X.11 and other provisions of the GE Pension Plan
\napplicable thereto (for Employees who are not married at the time their
\nSupplementary Pension begins); provided, however, that:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(i)<\/p>\n<\/td>\n

\n

As an alternative to the normal distribution forms set forth in
\nthis paragraph (B), a married Employee may elect to receive all payments of
\nNon-Grandfathered Plan Benefits as a single life annuity as described above, a
\n100% Alternative Survivor Benefit in accordance with the principles of Section
\nIX.3 and other provisions of the GE Pension Plan applicable thereto, or a 75%
\nAlternative Survivor Benefit in accordance with the principles of Section IX.10
\nand other provisions of the GE Pension Plan applicable thereto. In the case of a
\ndisability pension payable under Section IV(b) above, however, the 100%
\nAlternative Survivor Benefit shall not be available. An election under this
\nparagraph may not be made more than 60 days following the date as of which
\npayment is otherwise to commence in accordance with paragraph (3)(A) above. For
\npurposes of clarity, if an Employee is a Specified Employee for whom the
\nNon-Grandfathered Plan Benefit is delayed in accordance with paragraph
\n(3)(A)(i) above, an election under this paragraph may be made anytime within the
\nfirst six months following the Employee153s Separation from Service. If such
\nSpecified Employee dies during the six-month delay,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

13<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

the Specified Employee will be treated as if he retired before death, without
\nregard to such delay, and commenced receiving his benefit either in accordance
\nwith his actual election under this paragraph as to the form of distribution, or
\nin accordance the rules in paragraph (3)(B) above if no such election was made
\nbefore death.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(ii)<\/p>\n<\/td>\n

\n

Regardless of the initial form of payment for Non-Grandfathered Plan
\nBenefits, the revocation feature provided in Section IX.8 of the GE Pension Plan
\nshall not apply to Non-Grandfathered Plan Benefits.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

Impact of Reemployment. <\/strong><\/p>\n

If an Employee is reemployed by the Company or an Affiliate, the following
\nprovisions shall apply with respect to the determination of the Employee153s
\nSupplementary Pension:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

Grandfathered Plan Benefits<\/strong><\/p>\n

. If the Employee153s pension under the GE Pension Plan is suspended or may not
\ncommence for any month in accordance with the re-employment provisions of that
\nplan, the Employee153s Supplementary Pension attributable to Grandfathered Plan
\nBenefits that would otherwise be payable during such re-employment shall be
\nforfeited under this Plan. For this purpose, any addition to the Employee153s
\nSupplementary Pension which he may earn hereunder following such re-employment
\nshall not cause such Grandfathered Plan Benefits to be reclassified as
\nNon-Grandfathered Plan Benefits. Upon the Employee153s subsequent Separation from
\nService, the Employee153s original distribution election, if any, with respect to
\nsuch original Grandfathered Plan Benefits shall be disregarded and such original
\nGrandfathered Plan Benefit (adjusted for any additional accrual or reduction)
\nwill be paid in accordance with the terms of the Plan in effect at the time of
\nsuch subsequent Separation from Service applicable to Non-Grandfathered Plan
\nBenefits. If such subsequent Separation from Service is by reason of death, any
\nsurvivor or death benefits attributable to such original Grandfathered Plan
\nBenefits (as so adjusted) will be determined in accordance with this Plan153s
\npre-retirement death and survivor benefit provisions then applicable to
\nNon-Grandfathered Plan Benefits. The preceding two sentences shall not apply to
\nGrandfathered Specified Employees.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

Non-Grandfathered Plan Benefits<\/strong><\/p>\n

. If the Employee is rehired after having commenced receiving his
\nSupplementary Pension, and in accordance with the terms of the GE Pension Plan,
\nthe Employee would have had his pension therefrom suspended upon such
\nre-employment, the Employee shall forfeit any benefits from this Plan
\nattributable to his Non-Grandfathered Plan Benefit that would otherwise be
\npayable during such re-employment. Upon the Employee153s subsequent Separation
\nfrom Service:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(A)<\/p>\n<\/td>\n

\n

If the Employee153s Non-Grandfathered Plan Benefit is the same or has
\ndecreased, then:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(i)<\/p>\n<\/td>\n

\n

the Non-Grandfathered Plan Benefit earned during the first period of
\nemployment will resume immediately in the same form of distribution and with the
\nsame conversion and reduction factors that applied to the original distribution
\nof such benefit;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

14<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

(ii)<\/p>\n<\/td>\n

\n

if such original distribution form was a 50% Survivor Benefit, 75%
\nAlternative Survivor Benefit or 100% Alternative Survivor Benefit, any survivor
\nbenefits will be payable only if the Surviving Spouse was married to the
\nParticipant at the time of his original retirement; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(iii)<\/p>\n<\/td>\n

\n

such benefit will be reduced, as necessary, if the Employee153s
\nNon-Grandfathered Plan Benefit decreases as a result of his second period of
\nemployment.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

If such subsequent Separation from Service is by reason of death, then any
\ndeath or survivor benefits attributable to Non-Grandfathered Plan Benefits will
\nbe based on such original form of distribution with payment commencing on the
\nfirst of the month following death. Survivor benefits will be payable only if
\nthe Surviving Spouse was married to the Employee at the time of his original
\nretirement and is otherwise eligible to receive payments hereunder.<\/p>\n<\/p>\n\n\n\n
<\/td>\n\n

(B)<\/p>\n<\/td>\n

\n

If the Non-Grandfathered Plan Benefit payable upon such subsequent Separation
\nfrom Service has increased as a result of the Employee153s second period of
\nemployment, then the above provisions set forth in paragraph (2)(A) will govern
\nthe Non-Grandfathered Plan Benefit earned during the first period of employment
\n(as applicable), and the following will apply to any additional
\nNon-Grandfathered Plan Benefit:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(i)<\/p>\n<\/td>\n

\n

the additional benefit amount shall be distributed separately commencing on
\nthe first of the month following such subsequent Separation from Service based
\nupon the Employee153s age, marital status and the otherwise applicable Plan terms
\nat that time and any new distribution election made by the Employee in
\naccordance with Section X(a)(3) above, and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(ii)<\/p>\n<\/td>\n

\n

if such subsequent Separation from Service is by reason of death, any
\nsurvivor or death benefits attributable to such additional Non-Grandfathered
\nPlan Benefit will be determined separately in accordance with this Plan153s
\npre-retirement death and survivor benefit provisions.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

If an Employee is rehired under circumstances where he previously accrued a
\nnon-forfeitable interest in his Non-Grandfathered Plan Benefit but had not
\ncommenced receiving such benefit prior to his reemployment, the following shall
\napply:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(A)<\/p>\n<\/td>\n

\n

Such Employee shall forfeit the dollar amount of any Plan
\nBenefits that would otherwise be paid while re-employed. However, such Employee
\nwill continue<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

15<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

to retain an interest in the Plan (herein referred to as his “retained
\ninterest”) equal to the original non-forfeitable amount, as determined in
\naccordance with Section V(d) above.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(B)<\/p>\n<\/td>\n

\n

Such retained interest and any additional Non-Grandfathered Plan Benefit to
\nwhich the Employee is entitled shall be payable following the Employee153s
\nsubsequent Separation from Service at the time and in the manner provided in
\nSection X(a)(3). If the Employee dies before retirement, any survivor or death
\nbenefits attributable to such retained interest will be determined in accordance
\nwith this Plan153s pre-retirement death and survivor benefit provisions.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(C)<\/p>\n<\/td>\n

\n

If the Employee continues in service after attaining age 60, the Employee153s
\nretained interest shall commence after his subsequent Separation from Service at
\nthe time and in the manner provided in Section X(a)(3) and shall be calculated
\nusing reduction and conversion factors applicable to an age 60 commencement (but
\nbased on the spouse at actual retirement, if any).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

Beneficiary and Spousal Consent. <\/strong><\/p>\n

An Employee153s beneficiary for the purposes of this Plan shall be the
\nbeneficiary designated by him under the GE Pension Plan, except in those
\ninstances where a separate beneficiary designation is in effect under this Plan.
\nThe provisions of the GE Pension Plan with respect to the designation or
\nselection of a beneficiary shall apply to the designation or selection of a
\nbeneficiary under this Plan. For purposes of clarity, the requirement in the GE
\nPension Plan for a Spouse153s Consent to the designation or selection of a
\nbeneficiary, or the election of alternative distribution forms hereunder, shall
\napply under this Plan. Notwithstanding the foregoing, in the case of
\nNon-Grandfathered Plan Benefits, any elections governing beneficiaries made in
\naccordance with Section VII(b) of this Plan, as restated July 1, 1991, or
\nsubsequent actions of the Company related thereto, shall continue to apply. No
\nsuch elections, however, shall direct a different time or form of payment of
\nNon-Grandfathered Plan Benefits from the time and form of payment prescribed
\nunder this Plan, nor shall any Employee who did not make such an election before
\nthis restatement be permitted to submit such an election.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

With respect to Non-Grandfathered Plan Benefits, any provision of this
\nSection X or other provision of this Plan that refers to the time or form of
\nbenefits under the GE Pension Plan shall be deemed to be a reference to the
\nterms of the GE Pension Plan in effect on December 31, 2008.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XI. <\/strong><\/p>\n

Administration <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

This Plan shall be administered by the Pension Board, which
\nshall have authority to make, amend, interpret and enforce all appropriate rules
\nand regulations for the<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

16<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

administration of this Plan and decide or resolve in its sole and absolute
\ndiscretion any and all questions or claims, including interpretations of this
\nPlan, as may arise in connection with this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

In the administration of this Plan, the Pension Board may, from time to time,
\nemploy agents and delegate to them such administrative duties as it sees fit and
\nmay from time to time consult with counsel who may also serve as counsel to the
\nCompany.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

The decision or action of the Pension Board in respect of any question
\narising out of or in connection with the administration, interpretation and
\napplication of this Plan and the rules and regulations hereunder shall be final
\nand conclusive and binding upon all persons having any interest in the Plan or
\nmaking any claim hereunder.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XII. <\/strong><\/p>\n

Termination, Suspension or Amendment <\/strong><\/p>\n

The Board of Directors may, in its sole discretion, terminate, suspend or
\namend this Plan at any time or from time to time, in whole or in part. However,
\nno such termination, suspension or amendment shall adversely affect (a) the
\nbenefits of any Employee who retired under the Plan prior to the date of such
\ntermination, suspension or amendment or (b) the right of any then current
\nEmployee to receive upon retirement, or of his or her Surviving Spouse or
\nbeneficiary to receive upon such Employee153s death, the amount as a Supplementary
\nPension or death benefit, as the case may be, to which such person would have
\nbeen entitled under this Plan computed to the date of such termination,
\nsuspension or amendment, taking into account the Employee153s Pension Benefit
\nService and Average Annual Compensation calculated as of the date of such
\ntermination, suspension or amendment. Any amendment or termination shall comply
\nwith the restrictions of Section 409A of the Code to the extent applicable. No
\namendment or termination of the Plan may accelerate a scheduled payment of
\nNon-Grandfathered Plan Benefits, nor may any amendment or termination permit a
\nsubsequent deferral of Non-Grandfathered Plan Benefits.<\/p>\n

Section XIII. <\/strong><\/p>\n

Adjustments in Supplementary Pension Following
\nRetirement <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

Effective January 1, 1975, the amount of Supplementary Pension then payable
\nto any Employee who retired before January 1, 1975 shall be reduced by the
\namount of any increase which becomes effective January 1, 1975 in the Pension
\npayable under the GE Pension Plan to such Employee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

If the Pension payable under the GE Pension Plan to any Employee
\nis increased following his retirement which increase becomes effective after
\nJanuary 1, 1975,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

17<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

the amount of the Supplementary Pension thereafter payable to such Employee
\nunder this Supplementary Pension Plan shall be determined by the Board of
\nDirectors.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

Effective November 1, 1977, if the benefit payable to a pensioner or
\nSurviving Spouse under the GE Pension Plan is increased in accordance with
\nparagraphs 25 (a), (b) or (c) of Section XIV of that Plan, the Supplementary
\nPension or death benefit, if any, payable under this Plan to such pensioner or
\nSurviving Spouse on and after November 1, 1977 shall be increased by the same
\npercentage. Any such increase shall not be reduced by the percentage limitations
\nspecified in Section IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

Effective May 1, 1979, if the benefit payable to a pensioner or Surviving
\nSpouse under the GE Pension Plan is increased by a percentage in accordance with
\nparagraphs 26 (a), (b) or (c) of Section XIV of that Plan, or would have been
\nincreased by a percentage in accordance with such paragraphs except for the fact
\nthat such pensioner or Surviving Spouse received a lump-sum settlement under the
\nGE Pension Plan, the Supplementary Pension or death benefit, if any, payable
\nunder this Plan to such pensioner or Surviving Spouse on and after May 1, 1979
\nshall be increased by the same percentage. Any such increase shall not be
\nreduced by the percentage limitations specified in Section IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(e)<\/p>\n<\/td>\n

\n

If the Pension benefit or Service credits under the GE Pension Plan are
\nincreased for a retired employee in accordance with paragraph 27 or 28 of
\nSection XIV of that Plan, or in accordance with the opportunity made available
\nunder that Plan effective January 1, 1980 to make up Employee contributions plus
\ninterest for periods during which the Employee was otherwise eligible but failed
\nto participate because of late enrollment or voluntary suspension, the
\nSupplementary Pension payable to the Employee under this Plan shall be
\nrecalculated to take any such increase into account. For this purpose, Section
\nIII of this Plan as amended effective July 1, 1979 shall apply. Any change in
\nthe Employee153s Supplementary Pension shall take effect on the same date as the
\ncorresponding change under the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(f)<\/p>\n<\/td>\n

\n

Effective February 1, 1981, if the benefit payable to a pensioner or
\nSurviving Spouse under the GE Pension Plan is increased by a percentage in
\naccordance with paragraphs 29 (a), (b) or (c) of Section XIV of that Plan, or
\nwould have been increased by a percentage in accordance with such paragraphs
\nexcept for the fact that such pensioner or Surviving Spouse received a lump sum
\nsettlement under the GE Pension Plan, the Supplementary Pension or death
\nbenefit, if any, payable under this Plan to such pensioner or Surviving Spouse
\non and after February 1, 1981 shall be increased by the same percentage. Any
\nsuch increase shall not be reduced by the percentage limitations specified in
\nSection IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(g)<\/p>\n<\/td>\n

\n

Effective January 1, 1983, if the benefit payable to a pensioner under the GE
\nPension Plan is increased in accordance with paragraph 30 of Section XIV of that
\nPlan, the Supplementary Pension payable to the pensioner under this Plan shall
\nbe recalculated to take any such increase into account. Any change in the
\nSupplementary Pension shall take effect on the same date as the corresponding
\nchange under the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

18<\/p>\n<\/p>\n

\n\n\n\n
\n

(h)<\/p>\n<\/td>\n

\n

Effective December 1, 1984, if the benefit payable to a pensioner or
\nSurviving Spouse under the GE Pension Plan is increased by a percentage in
\naccordance with paragraph 32 (a), (b) or (c) of Section XIV of that Plan, or
\nwould have been increased by a percentage in accordance with such paragraphs
\nexcept for the fact that such pensioner or Surviving Spouse received a lump-sum
\nsettlement under the GE Pension Plan, the Supplementary Pension or death
\nbenefit, if any, payable under this Plan to such pensioner or Surviving Spouse
\non and after December 1, 1984, shall be increased by the same percentage. Any
\nsuch increase shall not be reduced by the percentage limitations specified in
\nSection IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(i)<\/p>\n<\/td>\n

\n

Effective July 1, 1985, if the benefit payable to a pensioner under the GE
\nPension Plan is increased in accordance with paragraph 34 of Section XIV of that
\nPlan, the Supplementary Pension payable to the pensioner under this Plan shall
\nbe recalculated to take any such increase into account. Any change in the
\nSupplementary Pension shall take effect on the same date as the corresponding
\nchange under the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(j)<\/p>\n<\/td>\n

\n

Effective January 1, 1988, if the benefit payable to a pensioner or Surviving
\nSpouse under the GE Pension Plan is increased by a percentage in accordance with
\nparagraph 35 of Section XIV of that Plan, or would have been increased by a
\npercentage in accordance with such paragraph except for the fact that such
\npensioner or Surviving Spouse received a lump sum settlement under the GE
\nPension Plan, the Supplementary Pension or death benefit, if any, payable under
\nthis Plan to such pensioner or Surviving Spouse on and after January 1, 1988
\nshall be increased by the same percentage. Any such increase shall not be
\nreduced by the percentage limitations specified in Section IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(k)<\/p>\n<\/td>\n

\n

Effective July 1, 1988, if the benefit payable to a pensioner under the GE
\nPension Plan or the GE Excess Benefit Plan is increased as a result of paragraph
\n36 of Section XIV of the GE Pension Plan, the Supplementary Pension payable to
\nthe pensioner under this Plan shall be recalculated to take any such increase
\ninto account. Any change in the Supplementary Pension shall take effect on the
\nsame date as the corresponding increase under the GE Pension Plan or GE Excess
\nBenefit Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(l)<\/p>\n<\/td>\n

\n

Effective July 1, 1991, if the benefit payable to a pensioner or Surviving
\nSpouse under the GE Pension Plan is increased by a percentage in accordance with
\nparagraph 37 of Section XIV of that Plan, or would have been increased by a
\npercentage in accordance with such paragraph except for the fact that such
\npensioner or Surviving Spouse received a lump sum settlement under the GE
\nPension Plan, the Supplementary Pension or death benefit, if any, payable under
\nthis Plan to such pensioner or Surviving Spouse on and after January 1, 1991
\nshall be increased by the same percentage. Any such increase shall not be
\nreduced by the percentage limitations specified in Section IX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

19<\/p>\n<\/p>\n

\n\n\n\n
\n

(m)<\/p>\n<\/td>\n

\n

Effective December 1, 1991, if the benefit payable to a pensioner under the
\nGE Pension Plan, the GE Excess Benefit Plan or GE Executive Special Early
\nRetirement Option and Plant Closing Retirement Option Plan is increased as a
\nresult of paragraph 38 of Section XIV of the GE Pension Plan, the Supplementary
\nPension payable to the pensioner under this Plan shall be recalculated to take
\nany such increase into account. Any change in the Supplementary Pension shall
\ntake effect on the same date as the corresponding increase under the GE Pension
\nPlan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and
\nPlant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(n)<\/p>\n<\/td>\n

\n

Effective December 1, 1994, if the benefit payable to a pensioner under the
\nGE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early
\nRetirement Option and Plant Closing Retirement Option Plan is increased as a
\nresult of paragraph 39 of Section XIV of the GE Pension Plan, the Supplementary
\nPension payable to the pensioner under this Plan shall be recalculated to take
\nany such increase into account. Any change in the Supplementary Pension shall
\ntake effect on the same date as the corresponding increase under the GE Pension
\nPlan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and
\nPlant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(o)<\/p>\n<\/td>\n

\n

Effective November 1, 1996, if the benefit payable under the GE Pension Plan
\nor the GE Excess Benefit Plan is increased as a result of paragraph 47, 48 or 49
\nof Section XIV of the GE Pension Plan, said increase shall be disregarded for
\npurposes of calculating the amount payable under this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(p)<\/p>\n<\/td>\n

\n

Effective December 1, 1997, if the benefit payable to a pensioner under the
\nGE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early
\nRetirement Option and Plant Closing Retirement Option Plan is increased as a
\nresult of paragraph 51 of Section XIV of the GE Pension Plan, the Supplementary
\nPension payable to the pensioner under this Plan shall be recalculated to take
\nany such increase into account. Any change in the Supplementary Pension shall
\ntake effect on the same date as the corresponding increase under the GE Pension
\nPlan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and
\nPlant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(q)<\/p>\n<\/td>\n

\n

Effective May 1, 2000, if the benefit payable under the GE Pension Plan or
\nthe GE Excess Benefit Plan is increased as a result of paragraph 54, 55 or 56 of
\nSection XIV of the GE Pension Plan, said increase shall be disregarded for
\npurposes of calculating the amount payable under this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(r)<\/p>\n<\/td>\n

\n

Effective December 1, 2000, if the benefit payable to a
\npensioner under the GE Pension Plan, the GE Excess Benefit Plan or the GE
\nExecutive Special Early Retirement Option and Plant Closing Retirement Option
\nPlan is increased as a<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

20<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

result of paragraph 58 of Section XIV of the GE Pension Plan, the
\nSupplementary Pension payable to the pensioner under this Plan shall be
\nrecalculated to take any such increase into account. Any change in the
\nSupplementary Pension shall take effect on the same date as the corresponding
\nincrease under the GE Pension Plan, GE Excess Benefit Plan or GE Executive
\nSpecial Early Retirement Option and Plant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(s)<\/p>\n<\/td>\n

\n

Effective December 1, 2003, if the benefit payable to a pensioner under the
\nGE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early
\nRetirement Option and Plant Closing Retirement Option Plan is increased as a
\nresult of paragraph 67 of Section XIV of the GE Pension Plan, the Supplementary
\nPension payable to the pensioner under this Plan shall be recalculated to take
\nany such increase into account. Any change in the Supplementary Pension shall
\ntake effect on the same date as the corresponding increase under the GE Pension
\nPlan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and
\nPlant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(t)<\/p>\n<\/td>\n

\n

Effective December 1, 2007, if the benefit payable to a pensioner under the
\nGE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early
\nRetirement Option and Plant Closing Retirement Option Plan is increased as a
\nresult of paragraph 70 of Section XIV of the GE Pension Plan, the Supplementary
\nPension payable to the pensioner under this Plan shall be recalculated to take
\nany such increase into account. Any change in the Supplementary Pension shall
\ntake effect on the same date as the corresponding increase under the GE Pension
\nPlan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and
\nPlant Closing Retirement Option Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XIV <\/strong><\/p>\n

General Conditions <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

No interest of an Employee, retired employee (whether retired
\nbefore or after July 1, 1973), Surviving Spouse or beneficiary under this Plan
\nand no benefit payable hereunder shall be assigned as security for a loan, and
\nany such purported assignment shall be null, void and of no effect, nor shall
\nany such interest or any such benefit be subject in any manner, either
\nvoluntarily or involuntarily, to anticipation, sale, transfer, assignment or
\nencumbrance by or through an Employee, retired employee, Surviving Spouse or
\nbeneficiary. If any attempt is made to alienate, pledge or charge any such
\ninterest or any such benefit for any debt, liabilities in tort or contract, or
\notherwise, of any Employee, retired employee, Surviving Spouse, or beneficiary,
\ncontrary to the prohibitions of the preceding sentence, then the Pension Board
\nin its discretion may suspend or forfeit the interests of such person and during
\nthe period of such suspension, or in case of forfeiture, the Pension Board shall
\nhold such interest for the benefit of, or shall make the benefit payments to
\nwhich such person would otherwise be entitled (in the same time and form) to the
\ndesignated beneficiary or to some member of such<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

21<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

Employee153s, retired employee153s, Surviving Spouse153s or beneficiary153s family to
\nbe selected in the discretion of the Pension Board. Similarly, in cases of
\nmisconduct, incapacity or disability, the Pension Board, in its sole discretion,
\nmay make payments (in the same time and form) to some member of the family of
\nany of the foregoing to be selected by it or to whomsoever it may determine is
\nbest fitted to receive or administer such payments.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

In connection with an allowance granted under the GE Retirement for the Good
\nof the Company Program, and in accordance with the terms of that program, the
\nCompany, in its discretion, may decide to provide an Employee with a
\nnon-forfeitable interest in all or a portion of his Supplementary Pension under
\nthis Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

No Employee and no other person shall have any legal or equitable rights or
\ninterest in this Plan that are not expressly granted in this Plan. Participation
\nin this Plan does not give any person any right to be retained in the Service of
\nhis employer. The right and power of the Company to dismiss or discharge any
\nEmployee is expressly reserved.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

Except to the extent that the same are governed by the federal law (including
\nSection 409A of the Code), the law of the State of New York shall govern the
\nconstruction and administration of this Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(e)<\/p>\n<\/td>\n

\n

The rights under this Plan of an Employee who leaves the Service of the
\nCompany at any time and the rights of anyone entitled to receive any payments
\nunder the Plan by reason of the death of such Employee, shall be governed by the
\nprovisions of the Plan in effect on the date such Employee leaves the Service of
\nthe Company, except as otherwise specifically provided in this Plan; provided,
\nhowever, that with respect to Non-Grandfathered Plan Benefits:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

Any Employee who left the Service of the Company on or after January 1, 2005
\nand prior to January 1, 2009 and commenced receipt of such benefits before
\nJanuary 1, 2009 shall not be eligible to select the revocation feature provided
\nin Section IX.8 of the GE Pension Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

Any Employee who left the Service of the Company on or after January 1, 2005
\nand prior to January 1, 2009 and did not commence receipt of such benefits
\nbefore January 1, 2009 (or anyone entitled to receive any payments under the
\nPlan by reason of the death of such Employee who did not commence receipt of
\nsuch payments before January 1, 2009) shall have the time and form of payment of
\nsuch benefits determined under the terms contained herein.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(f)<\/p>\n<\/td>\n

\n

This Plan is intended to comply with Section 409A of the Code
\nwith respect to amounts accrued after December 31, 2004 and amounts that were
\naccrued but forfeitable on that date. In addition, if an Employee accrues
\nbenefits hereunder on or after January 1, 2005, the Plan is intended to comply
\nwith the requirements of Section 409A of the Code with respect to all of such
\nEmployee153s benefits<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

22<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

hereunder; provided, however, that in the case of Grandfathered Specified
\nEmployees, the requirements of Section 409A of the Code shall only apply for
\namounts accrued in excess of Grandfathered Plan Benefits. The Plan shall be
\nadministered and interpreted in a manner consistent with such intent.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

23<\/p>\n<\/p>\n

\n

Part II: Executive Retirement Installment Benefits
\n<\/u><\/strong><\/p>\n

(for new participants) <\/strong><\/p>\n

Section XV. <\/strong><\/p>\n

Eligibility for Executive Retirement Installment
\nBenefits <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

An Employee shall be eligible to participate in this Plan under this Part II
\n(and not Part I) if he is:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

an Excluded Employee under the GE Pension Plan who is assigned to the GE
\nexecutive or higher career band;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

an Employee who is assigned to the GE executive or higher career band and
\nwhose first day of work for the Company while so assigned is on or after
\nJanuary 1, 2011; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

an Employee who is assigned to the GE executive or higher career band of
\n(i) an Affiliate that elected to participate in the GE Savings and Security
\nProgram prior to January 1, 2011 as part of a benefits program which provided
\nneither employer-subsidized post-retirement medical coverage under the GE Life
\nDisability and Medical Plan nor participation in the GE Pension Plan for all of
\nits employees, or the segment of its employees in which such Employee is
\nincluded; or (ii) an Affiliate that elects to participate in the GE Savings and
\nSecurity Program on or after January 1, 2011 as part of a benefits program which
\nprovides neither participation in the GE Pension Plan nor designation of
\nRetirement Contribution Participant status under the GE Savings and Security
\nProgram for all of its employees, or the segment of its employees in which such
\nEmployee is included, but in all cases, only to the extent such Affiliate elects
\nto participate in this Part II, and such election is accepted by the Pension
\nBoard.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

Notwithstanding (a), in the event liabilities and assets under the GE Pension
\nPlan attributable to an Employee have been transferred to a plan maintained by
\nMartin Marietta Corporation (including successors) or to any other employer
\nwhich is not an Affiliate, service performed by the Employee prior to such
\ntransfer shall be disregarded in determining (1) whether such Employee
\nparticipated in this Plan on or before December 31, 2010 and (2) whether his
\nfirst day of work for the Company while assigned to the GE executive or higher
\ncareer band is on or after January 1, 2011. Consistent with the foregoing, if
\nafter disregarding such service, an Employee is deemed not to have participated
\nin the Plan on or before December 31, 2010, and his first day of work for the
\nCompany while assigned to the GE executive or higher career band is deemed to be
\non or after January 1, 2011, this Part II (and not Part I) shall apply to such
\nEmployee.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

24<\/p>\n<\/p>\n

\n

Section XVI. <\/strong><\/p>\n

Executive Retirement Installment Benefits <\/strong>\n<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

An Executive Retirement Installment Benefit shall be payable to an eligible
\nEmployee who Separates from Service on or after his 65th<\/sup> birthday
\nequal to the sum of the following three amounts (if any):<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

10% multiplied by his Benefit Service as a participating Employee while
\nassigned to the GE executive career band multiplied by his Average Annual
\nCompensation.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

14% multiplied by his Benefit Service as a participating Employee while
\nassigned to the GE senior executive career band multiplied by his Average Annual
\nCompensation.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

18% multiplied by his Benefit Service as a participating Employee while a GE
\nofficer multiplied by his Average Annual Compensation.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

A reduced Executive Retirement Installment Benefit shall be payable to an
\neligible Employee who Separates from Service before his 65th<\/sup>
\nbirthday, but who terminates Service with the Company on or after his
\n60th<\/sup> birthday, equal to:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

for a Separation from Service after an Employee153s 60th<\/sup> birthday,
\nthe amount calculated under subsection (a), reduced by 5\/12% for each month from
\nthe day payments commence under Section XIX (Time and Form of Payment) to Normal
\nCommencement Date; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

for a Separation from Service on an Employee153s 60th<\/sup> birthday (or a
\nSeparation from Service before that date in the case of an Employee who
\nnevertheless qualifies for an Executive Retirement Installment Benefit by
\nremaining in Service with the Company until his 60th<\/sup> birthday), 75%
\nof the amount calculated under subsection (a).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

In all cases, Executive Retirement Installment Benefits shall only take into
\naccount Compensation and Benefit Service as of Separation from Service, even if
\nan Employee remains in Service with the Company thereafter.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

An Executive Retirement Installment Benefit shall not be payable with respect
\nto an Employee who terminates Service with the Company before his
\n60th<\/sup> birthday, except as specifically provided in Sections XVII
\n(Disability Retirement), XVIII (Special Benefit Protection) and XX (Payments
\nUpon Death), or except as may otherwise be provided by virtue of an exercise of
\nCompany discretion under Section XIV(b) or an exercise of Company discretion in
\nthe case of an Employee with less than 25 years of Eligibility Service who
\ntransfers to a successor employer.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

25<\/p>\n<\/p>\n

\n\n\n\n
\n

(e)<\/p>\n<\/td>\n

\n

The terms “GE executive career band,” “GE senior executive career band” and
\n“GE officer” refer to those classifications as determined for purposes of this
\nPart II by the General Electric Company in its sole discretion, and not any
\nAffiliate. Consistent with the foregoing, an Employee must be so determined to
\nbe an officer of the General Electric Company and not an Affiliate to be
\neligible for the accrual rate described in paragraph (a)(3).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(f)<\/p>\n<\/td>\n

\n

For purposes of this Part II, an Employee who Separates from Service, shall
\nonly be treated as remaining in Service with the Company while he is on
\nprotected service in accordance with established Company procedures.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XVII. <\/strong><\/p>\n

Disability Retirement <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

An Executive Retirement Installment Benefit shall be payable to an eligible
\nEmployee, who prior to his 60th<\/sup> birthday:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

either retires on a Disability Pension under Section VII of the GE Pension
\nPlan or, if he has not accrued a benefit under the GE Pension Plan, would
\nqualify to so retire if he had accrued such a benefit, but in such a case using
\nEligibility Service when applying the 15 years of service requirement in Section
\nVII of the GE Pension Plan; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

qualifies as disabled by receiving income replacement benefits under a
\nCompany plan for a period of not less than three months and otherwise meeting
\nthe requirements under Treasury regulation section 1.409A-3(i)(4) and
\nregulations and other guidance issued thereunder.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The amount of an Executive Retirement Installment Benefit under subsection
\n(a) shall equal 75% of the amount calculated under Section XVI(a), taking into
\naccount only Benefit Service and Compensation as of Separation from Service.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XVIII. <\/strong><\/p>\n

Special Benefit Protection <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

An Executive Retirement Installment Benefit shall be payable to a former
\neligible Employee who terminates Service with the Company before his
\n60th<\/sup> birthday and after completion of 25 or more years of Eligibility
\nService, and who meets one of the following conditions:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

The Employee153s Service is terminated because of a Plant Closing.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

The Employee153s Service is terminated for transfer to a Successor Employer.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

26<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

The Employee153s Service is terminated after one year on layoff with protected
\nservice.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The amount of an Executive Retirement Installment Benefit under subsection
\n(a) shall equal 75% of the amount calculated under Section XVI(a), taking into
\naccount only Benefit Service and Compensation as of Separation from Service.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XIX. <\/strong><\/p>\n

Time and Form of Payment <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

Executive Retirement Installment Benefits shall be paid in 10 annual
\ninstallments, each of which shall equal the amount calculated under Section XVI,
\nXVII or XVIII, as applicable, divided by 10.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The first annual installment of an Executive Retirement Installment Benefit
\ndescribed in subsection (a) shall be paid as of the first day of the month
\nfollowing the later of (1) three completed calendar months after Separation from
\nService (or six completed calendar months after Separation from Service in the
\ncase of a Specified Employee), or (2) the Employee153s 60th<\/sup> birthday.
\nNotwithstanding the foregoing, in the case of payments made under Section XVII
\n(Disability Retirement), the first annual installment of an Executive Retirement
\nInstallment Benefit shall be paid as of the first day of the month following six
\ncompleted calendar months after Separation from Service. The remaining nine
\nannual installments shall be paid as of the anniversary of the date set forth
\nabove.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

No interest shall be earned or paid with respect to any Executive Retirement
\nInstallment Benefits, including any payments upon death under Section XX.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XX. <\/strong><\/p>\n

Payments Upon Death <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

If death occurs after installments of an Executive Retirement Installment
\nBenefit have commenced under Section XIX(b), but before all 10 annual
\ninstallments have been paid, the remaining installments shall continue to be
\npaid to the Employee153s designated beneficiary as of the yearly anniversary
\nspecified in Section XIX(b).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

If an eligible Employee dies while in Service with the Company and before
\ninstallments of an Executive Retirement Installment benefit have commenced under
\nSection XIX(b), a death benefit shall be paid to his designated beneficiary
\nunder this Section XX(b), and not any other provision of this Part, equal to:\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

if death occurs on or after the Employees 65th<\/sup> birthday, the
\namount calculated under section XVI(a);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

27<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

if death occurs after the Employee153s 60th<\/sup> birthday but before his
\n65th<\/sup> birthday, the amount calculated under Section XVI(a), reduced by
\n5\/12% for each month from the day payments commence (as described below) to what
\nwould have been the Employee153s Normal Commencement Date; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

if death occurs on or before the Employee153s 60th<\/sup> birthday, 75% of
\nthe amount calculated under Section XVI(a).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Death benefits under this Section XX(b) shall take into account only Benefit
\nService and Compensation as of death (or Separation from Service if earlier).
\nSuch death benefits shall be paid in 10 equal annual installments (the amount
\ndetermined under paragraph (1), (2) or (3) as applicable, divided by 10). The
\nfirst annual installment shall be paid as of the first day of the month
\nfollowing three completed calendar months after death. The remaining nine annual
\ninstallments shall be paid as of the anniversary of the date in the preceding
\nsentence.<\/p>\n<\/p>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

If a former eligible Employee who is not in Service with the Company dies
\nafter satisfying all requirements hereunder to become entitled to receive an
\nExecutive Retirement Installment Benefit, but before payment of such benefit
\nbegins under Section XIX(b), a death benefit shall be paid to his designated
\nbeneficiary at the same time, in the same form (10 annual installments) and in
\nthe same amount as if the former Employee had survived and his benefit had
\ncommenced as scheduled.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

The designated beneficiary is the beneficiary or beneficiaries designated by
\nthe Employee on a beneficiary designation form properly filed by the Employee in
\naccordance with established administrative procedures, or if there is no such
\ndesignated beneficiary, the Employee153s estate. Employees may name and change
\nbeneficiaries without the consent of any person.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XXI. <\/strong><\/p>\n

Impact of Reemployment and Other Status Changes
\n<\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

An Executive Retirement Installment Benefit that has commenced shall not
\nstop, and the form of payment shall not be altered, upon reemployment.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

If an Employee is reemployed after becoming entitled to an Executive
\nRetirement Installment Benefit but before payment of such benefit has begun,
\npayment shall commence and be made as if the Employee had not been reemployed.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

In the case of reemployment, any post-reemployment benefit:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

shall be subject to the principles of this Part II as if it were a separate
\nbenefit; but<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

shall be calculated by subtracting (i) any benefit payable for
\nthe period prior to such reemployment from (ii) any benefit payable as of the
\nsubsequent<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

28<\/p>\n<\/p>\n

\n\n\n\n
<\/td>\n\n

Separation from Service, taking into account for purposes of this clause
\n(ii), all Benefit Service and Compensation (including pre-reemployment Benefit
\nService and Compensation) as of the subsequent Separation from Service.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Consistent with the foregoing, if a post-reemployment benefit is payable
\nconsistent with the principles of this Part II, such benefit shall be paid at
\nthe time and in the form prescribed by Section XIX (Time and Form of Payment),
\nand the provisions of Section XX (Payments Upon Death) shall apply separately to
\nthe post-reemployment benefit, in both cases disregarding how any
\npre-reemployment benefit is being or has been paid.<\/p>\n<\/p>\n\n\n\n
\n

(d)<\/p>\n<\/td>\n

\n

Principles similar to those in subsections (a) through (c) shall apply if an
\nEmployee is reemployed more than once.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(e)<\/p>\n<\/td>\n

\n

If an Employee ceases to be eligible to continue accruing an Executive
\nRetirement Installment Benefit solely because he is no longer assigned to the GE
\nexecutive or higher career band, his benefit shall be calculated taking into
\naccount his Compensation as an Employee attributable to periods after he is no
\nlonger so assigned, even though he can earn Benefit Service only during periods
\nwhile so assigned.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section XXII. <\/strong><\/p>\n

Definitions <\/strong><\/p>\n

The following terms have the following meanings when used in Part II.<\/p>\n

Benefit Service : means service as an Employee (including during a bona fide
\nleave of absence) while assigned to the GE executive or higher career band and
\nwhile eligible to participate in either:<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

the GE Pension Plan; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

the GE Savings and Security Program as either:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

a Retirement Contribution Participant; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

otherwise, but only in the case of an Affiliate that has made an applicable
\nelection described in Section XV(a)(3) and then only for periods after such
\nelection is effective;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

provided, however, that Benefit Service shall not include service performed
\nbefore 2011 or service during any period in which an Employee has Separated from
\nService, even if the Employee remains in Service with the Company.<\/p>\n<\/p>\n

29<\/p>\n<\/p>\n

\n

In addition, Benefit Service for any period in which an Employee works on a
\npart-time schedule of less than 35 hours per week shall be reduced in accordance
\nwith established administrative procedures based on the ratio of the Employee153s
\npart-time schedule to full-time schedule.<\/p>\n

Notwithstanding the foregoing, Benefit Service shall also include any period
\nof Service with the Company or an Affiliate as the Pension Board may otherwise
\nprovide by rules and regulations issued with respect to this Plan; and any
\nperiod of service with another employer as may be approved from time to time by
\nthe Chairman of the Board but only to the extent that any conditions specified
\nin such approval have been met. Any grant of Benefit Service under the preceding
\nsentence may also specify which accrual rate (the rate prescribed in Section
\nXVI(a)(1), (a)(2) or (a)(3)) applies to such Benefit Service.<\/p>\n

The Pension Board may also adopt such rules as it deems necessary for
\ndetermining an Employee153s Benefit Service, and for determining which accrual
\nrate (the rate prescribed in Section XVI(a)(1), (a)(2) or (a)(3)) applies to
\nsuch Benefit Service.<\/p>\n

Company : means:<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

Company as defined in the GE Pension Plan; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

any other Affiliate that adopts this Plan on or after January 1, 2011, as
\napproved by the Pension Board (including an Affiliate that has made an
\napplicable election described in Section XV(a)(3)).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Eligibility Service : means:<\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

S&SP Service as defined in the GE Savings and Security Program (S&SP)
\nfor (1) an Employee who is a Retirement Contribution Participant under the
\nS&SP, or (2) an Employee of an Affiliate that has made an applicable
\nelection described in Section XV(a)(3); and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

Pension Qualification Service as defined in the GE Pension Plan for all other
\nEmployees.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Pension Board may adopt such rules as it deems necessary for determining
\nan Employee153s Eligibility Service.<\/p>\n

Employee : means Employee as defined in the GE Pension Plan, but substituting
\nthe term “Company” as defined in this Section XXII for the term “Company” as
\nused in the definition of Employee in the GE Pension Plan.<\/p>\n

Normal Commencement Date : means the first day of the month following three
\ncompleted calendar months after an Employee153s 65th<\/sup> birthday, except
\nthat in the case of a Specified Employee whose benefit has been delayed for six
\ncompleted calendar months pursuant to Section XIX(b)(1), it means the first day
\nof the month following six completed calendar months after his 65th<\/sup>
\nbirthday.<\/p>\n<\/p>\n

30<\/p>\n<\/p>\n

\n

Section XXIII. <\/strong><\/p>\n

Effect of Certain Plan Provisions <\/strong><\/p>\n<\/p>\n\n\n\n
\n

(a)<\/p>\n<\/td>\n

\n

The following provisions of Part I shall not apply to Part II:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Section I, except the last paragraph thereof<\/p>\n

Section II(a)<\/p>\n

Section II(b)<\/p>\n

Section II(c)<\/p>\n

Section II(f)<\/p>\n

Section II(g)<\/p>\n

Section II(h)<\/p>\n

Section II(j)<\/p>\n

Section II(k)<\/p>\n

Section III(a)<\/p>\n

Section III(c)<\/p>\n

Section IV<\/p>\n

Section V<\/p>\n

Section VI<\/p>\n

Section VII<\/p>\n

Section VIII<\/p>\n

Section IX<\/p>\n

Section X<\/p>\n

Section XIII<\/p>\n<\/p>\n\n\n\n
\n

(b)<\/p>\n<\/td>\n

\n

The remaining provisions of Part I, or the underlying principles of such
\nprovisions, shall apply to Part II. Consistent with the foregoing and without
\nlimiting the scope of this subsection (b):<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

\n

the Board of Directors may, in its sole discretion, terminate, suspend or
\namend the Executive Retirement Installment Benefit set forth in this Part II
\nconsistent with the principles of Section XII in the same manner that the
\nSupplementary Pension Annuity Benefit in Part I may be so terminated, suspended
\nor amended;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

\n

the Pension Board shall have the same powers, authority and absolute
\ndiscretion with respect to the Executive Retirement Installment Benefit in this
\nPart II that it has with respect to the Supplementary Pension Annuity Benefit in
\nPart I consistent with the principles of Section XI; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

\n

the definition of Non-Grandfathered Plan Benefit in Section II(i) shall
\ninclude all benefits earned under Part II.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

31<\/p>\n<\/p>\n

\n\n\n\n
\n

(c)<\/p>\n<\/td>\n

\n

No provisions of Part II shall apply to Part I, except that, as described in
\nthe Introduction, the service disregard rule in Section XV(b) shall apply in
\ndetermining eligibility for Part I.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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