Mart. Mar. Executive Spec. Early Retirement Plan

MARTIN MARIETTA


EXECUTIVE SPECIAL EARLY RETIREMENT OPTION


AND


PLANT CLOSING RETIREMENT OPTION PLAN


APRIL 5, 1993 2


SECTION I.


ELIGIBILITY


Employees who: (1) are Highly Compensated Employees as defined under Section 414(q) of the Internal Revenue Code of 1986, as amended, (2) are eligible to receive either a Special Early Retirement Option or a Plant Closing Pension Option under Paragraphs V 5 or 6 of the Martin Marietta Pension Plan for Employees of Transferred GE Operations and (3) have their Pension benefits and other payment limited under Paragraphs V 5 or 6 of the Martin Marietta Pension Plan for Employees of Transferred GE Operations shall be eligible to receive a SERO or Plant Closing Supplement under this Plan in accordance with Section II.


SECTION II.


SERO SUPPLEMENT


The amount of the "SERO or Plant Closing Supplement" payable under this Plan to an Employee, Surviving Spouse or beneficiary shall be equal to the excess (if any) of:


a. the Pension, Survivor benefit or death benefit that the
Employee, Surviving Spouse or beneficiary would have received
under the Special Early Retirement option or Plant Closing
Pension Option (whichever is applicable) under the Martin
Marietta Pension Plan for Employees of Transferred GE
Operations but for the limitations on such benefit imposed on
Highly Compensated Employees by the Martin Marietta Pension
Plan for Employees of Transferred GE Operations pursuant to
Paragraphs V 5 or 6 thereof, over


b. the Pension, Survivor benefit or death benefit that the
Employee, Surviving Spouse or beneficiary received under the
Special Early R ...