PRUDENTIAL SEVERANCE PLAN
(As Amended and Restated Effective as of June 25, 2003)
Effective as of January 1, 2000, the Discretionary Severance Pay Plan of The Prudential Insurance Company of
America was renamed the Prudential Severance Plan (the “Plan”), and was amended and restated by The Prudential Insurance
Company of America (the “Company”). The Plan is hereby amended and restated as of June 25, 2003. The Plan is intended to
be, and shall be administered as, an employee welfare benefit plan as defined in Section 3(1) of the Employee Retirement Income
Security Act of 1974, as amended.
Section 1 – Purpose
1.1 Except as otherwise provided in the Plan, this Plan does not provide severance pay to any terminated Employee as a
matter of right, and neither the Company nor any Affiliated Company otherwise provides severance pay to terminated
Employees as a matter of right.
1.2 Except as otherwise provided in the Plan, whether or not severance pay, if any, is to be paid to a terminated Employee is
a matter solely within the discretion of the Company.
1.3 The purpose of this Plan is to define those circumstances under which the Company or other Participating Company
may pay severance to Eligible Employees.
Section 2 – Definitions
2.1 “Affiliated Company” means any corporation which is a member of a controlled group of corporations (within the
meaning of Section 414(b) of the Code) which includes the Company, any trade or business (whether or not incorporated) which
is under common control with the Company (within the meaning of Section 414(c) of the Code), any organization included in the
same affiliated service group (within the meaning of Section 414(m) of the Code) as the Company, and any other entity required
to be aggregated with the Company pursuant to regulations promulgated under Section 414(o) of the Code. Any such entity
shall be treated as an Affiliated Company only for the period while it is a member of the controlled group or co