PRUDENTIAL SECURITIES INCORPORATED
SUPPLEMENTAL RETIREMENT PLAN FOR EXECUTIVES (SERP)
Amended and restated effective June 1, 2001
Purpose . The purpose of the Prudential Securities Incorporated Supplemental Retirement Plan for Executives (the
“SERP”) is to provide certain key executives of Prudential Securities Incorporated (“PSI”) and its subsidiaries
(collectively the “Company”) with retirement benefits supplemental to their retirement income under the Prudential
Securities Incorporated component of The Prudential Merged Retirement Plan, known as The Prudential Securities
Incorporated Cash Balance Pension Plan (the “Pension Plan”) and the Social Security Act. The SERP is designed to
make it more attractive to such executives to remain as employees of the Company. 1
2. (a) Eligibility . Company employees who are eligible to participate under the SERP (the “Participants”) are:
Prior to January 1, 1985, members of the Executive Committee of the Board of Directors;
On or after January 1, 1985, members of the Board of Directors;
On or after July 1, 1991, members of the Operating Committee or Operating Council.
On or after May 1, 2001, members of the Management Committee or the Leadership Team.
(b) Vesting. Subject to the provisions hereof, including, without limitation, Section 8 (“Condition of Payment of Benefits”)
for a Participant to vest in SERP the Participant must be vested under the Pension Plan (by reason of completing at least
five years of service with the Company or an Affiliate).
(c) Change in Status. If a Participant is no longer in an eligible category under Section 2 (a) but remains an employee of the
Company, he shall continue to participate in SERP under the same terms and conditions as all other eligible Participants.
Note: Throughout this document, the masculine pronoun shall include the feminine pronoun and the feminine pronoun
shall include the masculine p