MAGELLAN PENSION PLAN

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ARTICLE I. Purpose; Effective Date

1

1.1  

Purpose

1

1.2  

Effective Date

1

ARTICLE II. Definitions

2

2.1  

“Accrued Benefit”

2

2.2  

“Actuarial Equivalent”

2

2.3  

“Actuary”

3

2.4  

“Affiliate”

3

2.5  

“Alternate Payee”

3

2.6  

“Annuity Starting Date”

3

2.7  

“Appendix”

3

2.8  

“Applicable Election Period”

3

2.9  

“Authorized Leave of Absence”

4

2.10

“Average Monthly Compensation”

4

2.11

“Beneficiary”

4

2.12

“Benefit Service”

4

2.13

“Board of Managers”

4

2.14

“Code”

4

2.15

“Code Section 415 Compensation”

4

2.16

“Committee”

4

2.17

“Company”

4

2.18

“Compensation”

4

2.19

“Computation Period”

5

2.20

“Covered Compensation”

6

2.21

“Death Benefit”

6

2.22

“Deferred Vested Pension”

6

2.23

“Disability”

6

2.24

“Disability Pension”

6

2.25

“Early Pension”

6

2.26

“Effective Date”

6

2.27

“Eligibility Service”

6

2.28

“Eligible Employee”

7

2.29

“Employee”

8

2.30

“Employer”

8

2.31

“Employer Contributions”

8

2.32

“Employment Date”

8

2.33

“ERISA”

8

2.34

“Hour of Service”

8

2.35

“Key Employee”

10

2.36

“Leased Employee”

10

2.37

“Lump Sum”

10

2.38

“Normal Pension”

10

2.39

“Normal Retirement Age”

10

2.40

“Normal Retirement Date”

10

2.41

“One Year Break-In-Service”

11

2.42

“Participant”

11

2.43

“Pension”

11

2.44

“Plan”

11

2.45

“Plan Year”

11

2.46

“Prior Service”

11

2.47

“Prior Williams Plan”

11

2.48

“Prior Williams Plan Benefit”

11

2.49

“Procedure”

11

2.50

“Qualified Joint and Survivor Pension”

11

2.51

“Qualified Domestic Relations Order”

11

2.52

“Retirement”

11

2.53

“Separation Benefit”

11

2.54

“Single Life Annuity”

12

2.55

“Social Security Retirement Age”

12

2.56

“Spouse”

12

2.57

“Spouse’s Consent”

12

2.58

“Surviving Spouse”

12

2.59

“Survivor Pension”

12

2.60

“Termination of Employment”

13

2.61

“Trust”

13

2.62

“Trust Agreement”

13

2.63

“Trustee”

13

2.64

“Trust Fund”

13

2.65

“Vesting Service”

14

2.66

“Vested Participant”

14

2.67

“Year of Service”

14

ARTICLE III. Participation

15

3.1  

Participation

15

3.2  

Reemployment

15

3.3  

Veteran’s Rights

15

ARTICLE IV. Contributions

16

4.1  

Participant Contributions

16

4.2  

Employer Contributions

16

4.3  

Rollover Contributions

16

ARTICLE V. Retirement Benefits

17

5.1  

Normal and Late Retirement

17

5.2  

Early Retirement

17

5.3  

Disability Retirement

17

5.4  

Deferred Vested Retirement

18

5.5  

Transferred Employee Retirement

18

5.6  

Annuity Starting Date

18

5.7  

Distribution Requirements

19

5.8  

Required Information

20

5.9  

Direct Rollovers

20

ARTICLE VI. Amount of Pension

22

6.1  

Normal and Late Pension

22

6.2  

Early Pension

22

6.3  

Disability Pension

22

6.4  

Deferred Vested Pension

23

6.5  

Maximum Pensions

24

6.6  

Transferred Employee Retirement Benefits

25

ARTICLE VII. Separation and Death Benefits

26

7.1  

Separation Benefit

26

7.2  

Death Benefits

26

7.3  

Designation of Beneficiary

26

7.4  

Loss of Eligibility to Receive Death Benefit

27

7.5  

Waiver of Survivor Pension Coverage for Spouse

27

ARTICLE VIII. Normal and Optional Forms of Payment

28

8.1  

Normal Form of Pension

28

8.2  

Optional Forms of Pension

28

8.3  

Other Benefits Cancelled by Option

30

8.4  

Special Restrictions on Payment

31

8.5  

Domestic Relations Orders

31

8.6  

Unclaimed Benefits

31

8.7  

Facility of Payment

31

8.8  

Loss of Eligibility to Receive Continuation Benefits

32

ARTICLE IX. Employment Transfers

33

9.1  

Transfers Between Employers

33

9.2  

Transfers to Non-Employer Affiliates

33

ARTICLE X. Administration

34

10.1

Fiduciaries

34

10.2

Allocation of Responsibilities Among Named Fiduciaries

34

10.3

Provisions Concerning the Benefits Committee

35

10.4

Provisions Concerning the Committee