Defined Contribution Plan Document

ARTICLE III
INDIVIDUAL ACCOUNTS

Section 3: Valuation of Accounts.

For periods prior to April 1, 2008, the following subsections (a) through (f) were applicable to the Plan.

  1. The Fund's assets shall be valued at fair market value.

  2. As soon as practicable after the Valuation Date, the Trustees shall determine the gross investment yield obtained by the Fund during the fiscal quarter.

  3. The Trustees shall determine expenses for administration of the Fund and such other expenses as the Trustees, in their sole discretion, shall decide.

    Such expenses, to the extent they exceed forfeitures for the quarter, shall be deducted from the gross investment yield. The gross investment yield less the expenses shall represent the net investment yield.

  4. For the first Valuation Date on and after June 30, 1995, the net investment yield shall be divided by the total amount of all the Individual Accounts of Participants established on such Valuation Date. For each Individual Account the fraction so obtained shall be multiplied by the amount in each such Individual Account and the product so obtained will be added to each such previously established Individual Account.

  5. Thereafter, beginning with the second Valuation Date after the inception of the Fund, the net investment yield shall be divided by the total amount in all of the Individual Accounts of Participants as of the last previous Valuation Date. For purposes of determining the total amount in all Individual Accounts as of the last previous Valuation Date,

    1. Individual Accounts terminated during the fiscal quarter will be disregarded, and

    2. Each Individual Account shall be increased by weighted contributions made during the fiscal quarter and decreased (but not below 0) by distributions made during the quarter.

      For each such Individual Account, the fraction so obtained shall be multiplied by the amount in each such Individual Account (adjusted as described in (1) and (2) above) and the product so obtained will be added to each such previously established Individual Account as of the Valuation Date. For this purpose, "weighted Contributions" for the quarter shall be determined by multiplying the Contributions received in the first month of the quarter by 2/3, Contributions received in the second month of the quarter by 1/3, and Contributions received in the third month by 0/3.

  6. In the event that the gross investment yield is less than the charge for expenses, the excess expenses shall be deducted from the principal of the Individual Accounts.

  7. For periods on or after April 1, 2008, the Plan utilizes daily valuation to determine the net asset value of each Individual Account.