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Florida Municipal Pension Trust Fund <br /> 457(b) Deferred Compensation Plan <br /> If the Participant designates as Beneficiary more than one person , all persons of the same <br /> Beneficiary Designation ("primary" or "contingent") have equal shares (per capita and <br /> not per stirpes) , unless the Participant specifies otherwise . <br /> If a Beneficiary Designation divides a Benefit between or among two or more <br /> Beneficiaries, the "primary" Beneficiary Designation must allocate the share of each such <br /> Beneficiary solely by specifying a percentage of the Participant ' s Account and the <br /> " contingent" Beneficiary Designation must allocate the share of each such Beneficiary <br /> solely by specifying a percentage of the Participant ' s Account . Without limiting the <br /> comprehensive effect of the preceding sentence , any division of any Benefit under a <br /> Beneficiary Designation shall be ineffective to the extent that it would ask the Plan <br /> Sponsor to consider any fact other than the amount of the Participant ' s Account . <br /> A Beneficiary Designation shall be construed to dispose of all of the remaining Plan <br /> Account or Deferred Compensation . <br /> Except as otherwise provided by the Plan , a Beneficiary Designation that uses a term or <br /> phrase that would have significance in construing or interpreting a conveyance or a <br /> disposition of a decedent' s estate shall , except as otherwise specified by the Participant , <br /> be construed or interpreted according to the Uniform Probate Code (without regard to the <br /> Participant ' s domicile at the time he or she made the Beneficiary Designation or the <br /> Participant ' s domicile at the time of his or her death) . Likewise, if a Beneficiary <br /> Designation remains ambiguous after applying all provisions and construction rules <br /> stated by this Plan and can be resolved by applying the rules of construction and <br /> interpretation of the Uniform Probate Code for construing a beneficiary designation or <br /> conveyance , such rules shall apply to the Beneficiary Designation, except as otherwise <br /> provided by the Plan . Any provision of the Uniform Probate Code concerning the effect <br /> of divorce or marital separation shall not apply . <br /> After the Participant ' s death, no person has any right or power or discretion to change <br /> any Beneficiary (except to disclaim his or her or its Deferred Compensation as permitted <br /> by Provision 15 . 14 ["Disclaimer by Beneficiary ") , and any such purported provision <br /> stated in a Beneficiary Designation or otherwise is ineffective . <br /> 3 . 9 "Business Day" <br /> means any day on which both the New York Stock Exchange [NYSE] is open for regular <br /> trading and the person that is required or permitted to act or that is entitled to receive <br /> notice is ( or was ) open for regular business at its home office or National Office or <br /> principal place of business . <br /> A Business Day ends at 4 p . m . New York Time , or, if earlier, the time that regular <br /> trading closes on the NYSE . <br /> As required or permitted by applicable Investment Law , any Agent may make reasonable <br /> rules governing the time of the day after which investment instructions will be treated as <br /> Florida Municipal Pension Trust Fund <br /> Florida League of Cities, Inc . <br /> Page 11 <br /> 02,'01 /2009 <br />