Common use of Applicable Factor Clause in Contracts

Applicable Factor. The Applicable Factor is determined from the appropriate table below based on the Normal Retirement Age under the Plan, as specified above (determined without regard to any years of Participation requirement). If the Plan's Standard Form of Retirement Income, as specified below, is other than a life annuity, the factor determined from the appropriate table below must be multiplied by the following adjustment factor: life annuity, 10 years guaranteed -- .90; life annuity and 50% survivor benefit -- .80; life annuity and 100% survivor benefit -- .666. If the Integration Level under the Plan is either option 4 or 5 in Section XII, C. below, the appropriate table is Table II. Otherwise, the appropriate table shall be Table I. TABLE I Plan's Normal Retirement Age Participant's Social Security Retirement Age ______________ _____________________________________________ 65 .75 .70 .65 64 .70 .65 .60 63 .65 .60 .55 62 .60 .55 .50 61 .55 .50 .475 60 .50 .475 .45 59 .475 .45 .425 58 .45 .425 .40 57 .425 .40 .375 56 .40 .375 .344 55 .375 .344 .316 TABLE II Plan's Normal Retirement Age Participant's Social Security Retirement Age ______________ ____________________________________________ 65 .60 .56 .52 64 .56 .52 .48 63 .52 .48 .44 62 .48 .44 .40 61 .44 .40 .38 60 .40 .38 .36 59 .38 .36 .34 58 .36 .34 .32 57 .34 .32 .30 56 .32 .30 .2752 55 .30 .2752 .2528 If a Participant begins receiving benefits before Normal Retirement Age or, in the case of a fixed benefit plan (whether excess or offset), the Participant has completed less than 35 years of Participation, the Participant's benefit will be determined in accordance with Section 5.7 of the Plan.

Applicable Factor. The Applicable Factor is determined from the appropriate table below based on the Normal Retirement Age under the Plan, as specified above (determined without regard to any years of Participation requirement). .) If the Plan's Standard Form of Retirement Income, as specified below, below is other than a life annuity, the factor determined from the appropriate table below must be multiplied by the following adjustment factor: life annuity, 10 years guaranteed -- .90; life annuity and 50% survivor benefit -- .80; life annuity and 100% survivor benefit -- .666. If the Integration Level under the Plan is either option 4 or 5 in Section XIIXI, C. below, the appropriate table is Table II. Otherwise, the appropriate table shall be Table I. TABLE I Plan's Normal Retirement Age Participant's Social Security Retirement Age ______________ _____________________________________________ 65 .75 .70 .65 64 .70 .65 .60 63 .65 .60 .55 62 .60 .55 .50 61 .55 .50 .475 60 .50 .475 .45 59 .475 .45 .425 58 .45 .425 .40 57 .425 .40 .375 56 .40 .375 .344 55 .375 .344 .316 TABLE II Plan's Normal Retirement Age Participant's Social Security Retirement Age ______________ ____________________________________________ 65 .60 .56 .52 64 .56 .52 .48 63 .52 .48 .44 62 .48 .44 .40 61 .44 .40 .38 60 .40 .38 .36 59 .38 .36 .34 58 .36 .34 .32 57 .34 .32 .30 56 .32 .30 .2752 55 .30 .2752 .2528 If a Participant begins receiving benefits before Normal Retirement Age or, in the case of a fixed benefit plan (whether excess or offset), before the Participant has completed less than 35 years of Participation, the Participant's benefit will be determined in accordance with Section 5.7 of the Plan.