AMENDMENT TO THE ADOPTION AGREEMENT RELATING TO THE SAVINGS PLAN
1.07 VESTING SCHEDULE
(a) The Participant's vested percentage in Employer contributions (Fixed or
Discretionary) elected in Section 1.05(a) and/or Matching Contributions
elected in Section 1.05(c) shall be based upon the schedule(s) selected
below, except with respect to any Plan Year during which the Plan is
Top-Heavy. The schedule elected in Section 1.12(d) shall automatically
apply for a Top-Heavy Plan Year and all Plan Years thereafter unless the
Employer has already elected a more favorable vesting schedule below.
(1) Employer Contributions (2) Matching Contributions
(check one): (check one):
(A) |_| N/A - No Employer Contributions (A) |_| N/A - No Matching Contributions
(B) |_| 100% Vesting immediately (B) |_| 100% Vesting immediately
(C) |_| 3 year cliff (see C below) (C) |_| 3 year cliff (see C below)
(D) |_| 5 year cliff (see D below) (D) |_| 5 year cliff (see D below)
(E) |_| 6 year graduated (see E below) (E) |_| 6 year graduated (see E below)
(F) |_| 7 year graduated (see F below) (F) |_| 7 year graduated (see F below)
(G) |_| Other vesting (complete G1 below) (G) |X| Other vesting (complete G2 below) *
VESTING SCHEDULE
- --------------------------------------------------------------------------------
Years of
Service for
Vesting C D E F G* G*
------- - - - - -- --
0 0% 0% 0% 0% ____ 0%
1 0% 0% 0% 0% ____ 50%
2 0% 0% 20% 0% ____ 100%
3 100% 0% 40% 20% ____ 100%
4 100% 0% 60% 40% ____ 100%
5 100% 100% 80% 60% ____ 100%
6 100% 100% 100% 80% ____ 100%
7 100% 100% 100% 100% 100% 100%
Note: A schedule elected under G1 or G2 above must be at least as favorable as
one of the schedules in C, D, E or F above.
*Note: Section 1.07 (a), as amended, shall apply only to Employees of
Employer who commence employment on or after January 1, 1999. For the
avoidance of doubt, Employees of Employer who commenced employment prior
to January 1, 1999 but first become eligible to participate in the Plan on
or after such date shall be governed by the version of such section as in
effect prior to this Amendment.
Authorized Signature: Risk Capital Reinsurance Company
By: /s/ Louis T. Petrillo
--------------------------------------------
Louis T. Petrillo
Vice President and Associate General Counsel
Date: December 3, 1998