A. NORMAL FORMS OF BENEFIT

1. Joint and Survivor Annuity. For a married Participant, the Plan's normal form of retirement and disability benefit is a joint and 50% survivor annuity, unless your individual account balance is $5,000 or less. This form of benefit is required, unless your spouse consents to your waiver of the joint annuity, as explained below. The joint and survivor annuity provides a reduced lifetime benefit and, after your death, a lifetime benefit for your surviving spouse equal to one-half the monthly amount paid to you.

   To fund a joint and survivor annuity benefit, the Plan will use your individual account balance to purchase an annuity from an insurance company or other entity at then current market rates.

   With the consent of your spouse, however, you may waive the joint and survivor annuity and select one of the benefit options described in Paragraph B, “Other Benefit Options.”

2. Explanation Given to Participant. At the time of your retirement the Plan will provide a written explanation of the Joint and Survivor Annuity as well as the Plan’s other benefit options that are available no earlier than 30 days, nor later than 180 days before benefits are to begin. Until distributions actually commence, you may revoke any benefit election you submitted to the Plan Office subject to the spousal consent rules, if applicable, described in Section VII.A.3.

3. Spousal Waiver/Beneficiary Designation. If you are married, election of a benefit other than the joint and survivor annuity is effective only if your spouse consents to such election, and such consent is witnessed by a Plan representative or notary public.

   Regardless of a valid spousal waiver in favor of a form of benefit other than a joint and survivor annuity, you are not allowed to designate a beneficiary other than your lawful spouse without your spouse's written consent executed in the same manner as the waiver. If you subsequently desire to revoke a beneficiary designation and to choose another non-spouse beneficiary, your lawful spouse must consent to the revocation and alternative beneficiary selection.

   If you retire on a joint and survivor annuity and subsequently divorce your spouse, your benefit will not be increased to the level you would have received had this coverage not been provided. In most instances (e.g., unless a court order provides otherwise), your former spouse will continue to be entitled to her portion of your benefit. Moreover, if you subsequently remarry, you may not transfer your spouse coverage to your new spouse.

   If upon your retirement you are to receive a joint and survivor annuity, you may not withdraw or change such coverage after your annuity has been purchased. In addition, you may not withdraw or otherwise change that form of benefit after you retire or otherwise begin receiving your benefits even if your spouse dies after your retirement. Thus, your benefits will not be increased to the level you would have received had this coverage not been provided.

4. Life Annuity. The normal form of benefit for a single Participant is a single life annuity, which is a series of monthly payments for the balance of your life as determined by actuarial life expectancy tables approved by the Board of Trustees. A life annuity form of benefit will be paid to an unmarried participant if no other form of benefit has been elected at the time mandatory distribution of an individual account is required by federal law. If you choose this option, the Plan will use your individual account balance to purchase an annuity from an insurance company or other entity at then current market rates.