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oommence, Present value delemhinetions undPf this Section that) be made try theAdrnirtiffirator in aocordiance with the expected return multiples set Korth in Lection 1.72.9 of the Federal I n;,orrie Tax Ragutations (or any s+acessor pro. vision to ouch ). Section 7.04 Post•r0remenl Death Benefits: Should the ParWpart die after he has begun io receive benefits under a paymern option, the rmnairiirg payments, H ary+, under the payment option shah be payable to the Partici panit Benekiary commencing within the 30 -day period commencing with Che 31st day alter the Porticipam's death, unless the Beneficiary elects pay' mere under a drfbraN payrner: opL w within 30 days ol the Parliciparilt death. In no avers Mhalt the Employer or Administrator be liable to the Beneficiary fir the amount of any payment made in the name of the Participant before the Adtsnrxstrata w -ewes prod of dioath of the Participant Notwithstanding V* foregoing, paymants to a Beneficiary Shan not dutend over a I aOnCi i lager than (} the Bena6ciary`s life expectancy t the Beneficiary is the Participant's spouse or (s) frftsen 05) years if the Beneficiary is not the Parte pant's spouse H no Beneficiary is dosignated in the Joinder ApreemeM, of it Me designated Bene(eisry does nrA survive tha Participant for a period of fifteen 05) days. then the oarmwiad vahe of any rarn4ning payments under the payment option shall be paid in a lump sum to the estate of the Participant. H the designated Beneficiary rfurvivas the Participant fir a period of fifteen (15) days, txA does not continue to live tot the renhairMng period of payrnents under the payment option (as modiliied, if necessary, in conformity with the third sentence of this eaction), than t of commuted value of any remaining payments under tie pay mere option "i be pard in a lump sum to the ablated the Beneficiary. $action 7.65 Pr rettromant Death Benaitts: Should the Partieipart dio before he has begun to receive the bwv% provided by Section 7U1, the value of the Pan)cipanti Account shall be payable to the Beneficiary commencing within the 30 -day period commencing on the 91s1 day atter the Participant's death, unless the Beneficiary elects a diterem benefit commencemerf date within the 90 days of the Participartls death. Such benefits shall be paid in approximately equal annual installments over five years, or over such shorter period as may be necessary to assure that the amount of any annual install. mems not lass than 53,500. unless the Beneficiary elects a dMerent payment option within 90 days d the PaUipart's death. Notwthstan dmg the forego. frig, berhefits paid to a Beneficiary under this Section may G7 rimer" no earlier than the 91st day after the Parucipant's death and no later than 60 days after Vv later of the dose of the Plan Year in which the Participant, aftained or would have attained Normal Retirement Age or the close of the Plan Year in which the Participant separated from cervica A Beneficiary who may elect a pay. mard option pursuant to the provisions of the preceding sentence shall be Vitiated as t he were a Participant for purposes of determining the payment Options "sable under Section 7,02, provided, hoA ever, that the Wye" option chosen by the Beneficiary must provide for payments to the Beneficiary suer a period no *anger than the Ile expectancy, of the Beneficiary t the Benefrci. try is the ParUGpentls spouse and must provide for payments over a period to in mess of fitteen 05) years f the Beneficiary is nal the Parbcipanit spouse Section 7.66 Unforoo"ikbte Ew4rjj mc4s: in the event an unforeseeable emergency occurs, a Partcipam may apply to the Employer to receive that part d the value ol his accoum that is reasonably needed to satisfy the ernes- gency need H such an oppl-cabon is approved by the Employer, the Partdpam dha l be paid only such amours as the Employer deems necessary to meet the emergency need, but payment shall not be made to the extent that the tnanrial hardship may be rdievied through c es aiio n of deferral under the Plan, insurance or sew reimbursement. or kquidalion d other assets to the extent such liquidation would not itself cause severe financial hardship An unfor aide emergency "I be deemed to involve only circumstances of severe finanGal hardship to the Panicipam resuning from a sudden and unexpected illness, accident or d sablrty of the Partepant or of a dependent (as darned in *action 152(a) of the internal Revenue Code) of the ParoGpam, loss d the Par• ticfpamt property due to casualty, or other Similar and axiraord nary un orasee- ade circumstances arising as a result of events beyond the control d the Par, Wpard The need to send a Participant's child to college or to purchase a naw hona dish not be considered unforeseeable emergencies The determination as to whether such on unforeseeable emergency exists dhau be based on the merits of each individual case. ARTICLE VIII, NON•ASSIGNABILI Y No Participarf of Beneficiary daI have any right to commule, sell, assign, pledge, Iransier of otherwise convey or encumber the right to receive any pay menls hereundar, which payments and rights are expressly declared to be tion as +gnate and no'vtransferil ale ARTICLE IX. RELATIONSHIP TO OTHER PLANS AND EMPLOYMENT AGREEMENTS This Plan serves in addition to any other retirement, pension, or benefit plan or Cystom presently in existence tv hareinalter established for the benefit of the Employerls employees, and participation hereurKler shah not affect benefits receiv able under any such plan or "am. NUhing contained in this Plan shall be deemed to conslrlule an ampioymem wniract or agreement between ary Pan ticipant and the Employer or to give any Participant the right to be retained in the employ of the Employer Not deli anything herein be construed to modify the terms of any employment contract or agreement between a Participant and the Employer ARTICLE X. AMENDMENT OR TERMINATION OF PLAN The Employer may at any time amend this Plan provided that it transmits such amendment in wrung to the Adminisiralor at least 30 days prior to the ettective date of the amendment. The consent of the Adm n,stratoi shall not be required in order for such amendment to become effe(tive, but the Administrator shall be under no obligation to continue acting as Admirvstrator hereunder d it disap- proves of such amendment The Employer may at arty time terminate this Plan The Administralor may at arty time propose an amendment to the Plan by an instrument in writing irarhsmtted to the Employer at least 30 days before the effec live dale of the amendment Such amendment shall become effective unless, within such 30 -day penod. the Employer notifies the Administrator in writing that k disapproves such amendment. in which case such amendment shall not become eft i% s In the aveni of such disapproval, the Admrtistralor than be under no obirgalion to Continue acting as Administrator hereunder No amendment or termination of the Plan shall divest any Participant of any fights with respect to compensation deferred before the date d the amendment of termination. ARTICLE XI. APPLICABLE LAW This Plan shall be construed under the taws of the state where the Employer is located and is estabimhed with the intent that it meet the requirements of an Wgible Stale dekited compensation plan' i!rder sectwn 457 d the internal Rev- enue Code of 1954, as amended The provisions of this Plan shall be interpreted whatever possible in conformity wit the requiremerns of that section ARTICLE XII. GENDER AND NUMBER The masculine pronoun. wherever used heroin, "It include the feminine pro. noun, and the singular shalt include the plural), except where the context requires otherwiifie