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Florida Municipal Pension Trust Fund 457(b) Deferred Compensation Plan apparent entitlement under the terms of the beneficiary designation before the payor received written actual notice alleging that the beneficiary was not entitled to the Distribution . 15 . 6 Instruction to Issuer Any Distribution is payable by or on behalf of the Master Trustee or Issuer only upon the Master Trustee ' s or Issuer ' s receipt in good order of the Plan Sponsor ' s approval of the Distributee ' s claim . Except to the extent otherwise expressly provided by the Investment(s), any payment or Payout Option shall be determined as of the Valuation Date requested by the Participant or Beneficiary, or if later, as of the Valuation Date that next follows the Issuer ' s or Master Trustee ' s receipt in good order (within the meaning of the Investlment(s) or applicable law) the approved claim. 15 . 7 Delay of payment The Plan Sponsor, in its sole discretion, may delay payment of an approved Distribution : • to receive any necessary information, • to permit a valuation of the Account, • to permit any necessary or appropriate liquidation of assets , • if a dispute arises as to the proper payee (refer to Provision 15 . 8 below) , • if the Plan Sponsor has notice of a domestic relations case or petition that may involve the applicable Account, • if the Plan Sponsor has notice of a bankruptcy case or petition that may involve the applicable Account, • if the Plan Sponsor has notice of any legal proceeding or petition that may involve the applicable Account, or 0 for any reason described elsewhere in this Plan, or • for any other lawful purpose . Without limiting the comprehensive effect of the above, to the extent that any Distribution requires a redemption or transfer of Fund shares , the Plan Sponsor shall delay the Distribution during any period : when the NYSE is closed other than for a weekend or a holiday , or when trading on the NYSE is restricted (as determined by the SEC) , or when an emergency exists making disposal of a Fund ' s securities or valuation of a Fund' s net assets not reasonably practicable , or when the SEC has required or permitted the suspension of Florida Municipal Pension Trust Fund Florida League of Cities, Inc . Page 42 02'01 /2009