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This is an actual contract by Gulfstream Aerospace.
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Sectors: Manufacturing
Effective Date: January 01, 1989
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This amendment to the Gulfstream Aerospace Corporation Pension Plan (the "Plan") is intended to clarify certain Plan provisions relating to the payment of preretirement death benefits and transfers of highly compensated employees to Gulfstream Aerospace Corporation (Oklahoma). The Plan was last amended and restated effective as of January 1, 1989.


The Plan is hereby amended as follows:


1. Section 2.13 of the Plan is amended, effective January 1, 1994, by adding
a new sentence to read as follows:


The group of Eligible Employees shall also include any otherwise eligible
Employee who transfers to employment with Gulfstream Aerospace Corporation
(Oklahoma) and who is a Highly Compensated Employee with respect to the Plan
Year beginning after the date of transfer based on his or her compensation
during the Plan Year in which the transfer occurs.


2. Section 8.2(a)(1) of the Plan is amended in its entirety, effective
January 1, 1989, to read as follows:


(1) In the case of a Participant who dies while an Employee or on or after
attaining Earliest Retirement Age, the amount of the benefit shall be the
amount payable as a survivor annuity as if the Participant had retired with
an immediate 100 percent joint and survivor annuity (as described in section
6.3(b)) on the day before his or her death. If the Participant dies while an
Employee and if benefit payments to the spouse commence before the date on
which the Participant would have attained the Normal Retirement Date, the
amount of this 100 percent joint and survivor annuity shall be determined by
applying--


(A) the reduction factors in section 5.3(b), where the benefit commences on
or after the date on which the Participant attained or would have
attained age 50; or


(B) the reduction factors in Appendix A, where the benefit commences before
the date on which the Participant would have attained age 50.


1


For purposes of this paragraph (1), a Participant who dies while
receiving benefits under the long-term disability plan maintained by his
or her Employer shall be considered to have died while an Employee.


3. Appendix A to the Plan is amended, effective January 1, 1989, by adding
the following provisions at the end of the Appendix:


Actuarial Factors for Employees Dying Before Age 50
---------------------------------------------------


The preretirement death benefit payable to a surviving spouse pursuant to
section 8.2(a)(1) shall be calculated by applying the following factors for
benefit commencement before the date on which the Participant would have
attained age 50.


_____________________________________________________
Age Factor Age Factor
______________________________________________________


Years Months Years Months
______________________________________________________
______________________________________________________
35 0 .240913 36 0 .251682
35 1 .241810 36 1 .252635
35 2 .242708 36 2 .253588
35 3 .243605 36 3 .254542
35 4 .244503 36 4 .255495
35 5 .245400 36 5 .256448
35 6 .24
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