Common use of Age Weighted Clause in Contracts

Age Weighted. Each eligible Participant shall receive an allocation equal to a percentage of the Non-Elective Contribution for the Plan Year, such percentage to equal the ratio that the present value of a monthly Straight Life Annuity, payable at Normal Retirement Age, of one (1%) percent of his Compensation for the Plan Year bears to the present value of such annuities for all eligible Participants for that Plan Year. The present value of a Participant's Straight Life Annuity equals one (1%) of his Compensation for the Plan Year multiplied by the applicable factor in Table I (based on the Participant's Normal Retirement Age) and the applicable factor in Table II (based on the number of years the Participant's Normal Retirement Age exceeds his current age) at the end of the Basic Plan Document. These factors are based on the interest rate(s) and mortality table set forth below: Present value factors are based on: Normal Retirement Age Pre-retirement interest rate: Post-retirement interest rate: ☐ 7.50% ☐ 7.50% ☐ 8.00% ☐ 8.00% ☐ 8.50% ☐ 8.50% Post-Retirement Mortality ☐ UP-84 (unisex) ☐ 71 GAM - female ☐ 83 GAM - female ☐ 71 IAM - male ☐ 83 IAM - male ☐ 83 GAM - blended 50/50 ☐ 71 IAM - female ☐ 83 IAM - female ☐ 94 GAR (unisex) ☐ 71 GAM - male ☐ 83 GAM - male

Age Weighted. Each eligible Participant shall receive an allocation equal to a percentage of the Non-Elective Contribution for the Plan Year, such percentage to equal the ratio that the present value of a monthly Straight Life Annuity, payable at Normal Retirement Age, of one (1%) percent of his Compensation for the Plan Year bears to the present value of such annuities for all eligible Participants for that Plan Year. SAMPLE The present value of a Participant's Straight Life Annuity equals one (1%) of his Compensation for the Plan Year multiplied by the applicable factor in Table I (based on the Participant's Normal Retirement Age) and the applicable factor in Table II (based on the number of years the Participant's Normal Retirement Age exceeds his current age) at the end of the Basic Plan Document. These factors are based on the interest rate(s) and mortality table set forth below: Present value factors are based on: Normal Retirement Age Pre-retirement interest rate: Post-retirement interest rate: ☐ o 7.50% ☐ o 7.50% ☐ o 8.00% ☐ o 8.00% ☐ o 8.50% ☐ o 8.50% Post-Retirement Mortality ☐ o UP-84 (unisex) ☐ o 71 GAM - female ☐ o 83 GAM - female ☐ o 71 IAM - male ☐ o 83 IAM - male ☐ o 83 GAM - blended 50/50 ☐ o 71 IAM - female ☐ o 83 IAM - female ☐ o 94 GAR (unisex) ☐ o 71 GAM - male ☐ o 83 GAM - male

Age Weighted. Each eligible Participant shall receive an allocation equal to a percentage of the Non-Elective Contribution for the Plan Year, such percentage to equal the ratio that the present value of a monthly Straight Life Annuity, payable at Normal Retirement Age, of one (1%) percent of his Compensation for the Plan Year bears to the present value of such annuities for all eligible Participants for that Plan Year. The present value of a Participant's Straight Life Annuity equals one (1%) of his Compensation for the Plan Year multiplied by the applicable factor in Table I (based on the Participant's Normal Retirement Age) and the applicable factor in Table II (based on the number of years the Participant's Normal Retirement Age exceeds his current age) at the end of the Basic Plan Document. These factors are based on the interest rate(s) and mortality table set forth below: Present value factors are based on: Normal Retirement Age Pre-retirement interest rate: Post-retirement interest rate: ☐ o 7.50% ☐ o 7.50% ☐ o 8.00% ☐ o 8.00% ☐ o 8.50% ☐ o 8.50% Post-Retirement Mortality ☐ o UP-84 (unisex) ☐ o 71 GAM - female ☐ o 83 GAM - female ☐ o 71 IAM - male ☐ o 83 IAM - male ☐ o 83 GAM - blended 50/50 ☐ o 71 IAM - female ☐ o 83 IAM - female ☐ o 94 GAR (unisex) ☐ o 71 GAM - male ☐ o 83 GAM - male