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FANNIE MAE
SUPPLEMENTAL PENSION PLAN
Pursuant to
Section 5.5 of the Fannie Mae Supplemental Pension Plan (the
“Plan”), and in accordance with the authority delegated
to the Vice President & Deputy General Counsel for Tax &
Benefits to approve amendments to benefit plans to the extent
necessary to comply with Internal Revenue Code Section 409A,
the Plan is hereby amended as follows, effective as of
January 1, 2009 or, as to any provision hereof required under
Section 409A to be effective January 1, 2008, as of
January 1, 2008:
1. Section 2.1A
is hereby amended in its entirety to read as follows:
“2.1A.
“Actuarial Equivalent” means, as of any determination
date, a benefit which is of equal value to a benefit otherwise
payable in a different form or commencing at a different time under
the Plan, based on the applicable mortality tables and interest
factors (or other reduction factors) set forth in the Retirement
Plan and in effect on such determination date.”
2. Section 3.2
is hereby amended by adding at the end the following
sentence:
“Notwithstanding
the foregoing, if a Participant’s accrued benefit under the
Retirement Plan, as of the date on which payment of his or her
benefit under this Plan is scheduled to commence, reflects accruals
with respect to a period following the Participant’s
Separation from Service in which the Participant was receiving
benefits under a long-term disability plan maintained by the
Corporation, the Participant’s benefit under this Plan shall
be calculated not as of the date of the Participant’s
Separation from Service but as of such benefit commencement date,
taking into account any such period or portion thereof that follows
the date of the Participant’s Separation from Service and is
completed as of such benefit commencement date.”
3. Section 3.4
is hereby amended by inserting, in the first sentence, the words
“or 2008” after the words “commence at an
alternative time under the 2007,” and
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