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EXHIBIT 10.13
EXXONMOBIL EXECUTIVE LIFE INSURANCE AND
DEATH BENEFIT PLAN
1.Participation
1.1Covered Executive
Each covered executiveis a participantin this Plan.
1.2Retiree
(A)In General
Except as provided in paragraph (B) below, each person who becomes a retireeon or after the effective date,
and who is a covered executiveimmediately prior to becoming a retireeis a participantin this Plan. In addition,
each grandfathered retireeis a participantin the Plan.
(B)Exception
A retireewill cease to be a participantduring the time the retireeis a suspended retiree.
1.3Cessation of Participant Status
(A)Termination of Employment
(1)In General
Except as provided in paragraphs (2) through (4) below, a covered executivewill cease to be a
participant31 days after the covered executive terminates employment without becoming a retiree.
(2)Exception for Long Term Disability
A covered executivewho terminates employment with eligibility for long-term disability benefits
under the ExxonMobil Disability Plan, will cease to be a participantat the earlier of
(a)one year after terminating employment, or
(b)the date the person is no longer eligible for long-term disability benefits on account of ceasing
to be disabled
(3)Exception for Coverage Provided Through Death Benefit
If, at the time a covered executiveterminates employment he or she has elected to receive executive
life coverage in the form of a death benefit, the covered executivewill cease to be a participanton the
date of such termination of employment.
(4)Exception for Transition Severance Terminees
(a)In General
A covered executivewho terminates employment without becoming a retireeshall continue to
be a participantfor a period of one year from the date of such termination of employment, but
only if the person is eligible for a benefit under the Exxon Transition Severance Plan, or if the
Corporation, acting through its management, determines that the covered executiveis
otherwise eligible for such continued participation.
(b)Termination of Provision
This paragraph (4) shall not apply to any covered executivewho terminates employment after
August 31, 2000.
(B)Suspended Retirees
A retireeor grandfathered retireewill cease to be a participantduring the time the person is a suspended retiree.
2.Coverage
2.1When and How Coverage is Provided
(A)In General
(1)Executive Life Coverage
Executive life coverage is automatically provided to all participantsother than grandfathered retirees.
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(2)Supplemental Group Life Coverage
Supplemental group life coverage is automatically provided to all participantswho are grandfathered
retirees.
(B)Life Insurance or Death Benefit Option
(1)In General
Both executive life coverage and supplemental group life coverage is automatically provided under the
Plan as life insurance unless a participantelects to receive coverage in the form of a death benefit.
(2)Election
Participantsmay, at any time, elect to receive executive life or supplemental group life coverage,
whichever is applicable, as a death benefit, and may revoke any such election. An election or
revocation under this paragraph (2) shall be made in accordance with procedures established by the
administrator.
(3)When Election is Effective
(a)Death Benefit
An election under paragraph (2) above to receive executive life or supplemental group life
coverage as a death benefit shall become effective on the first of the month following the
receipt of such election by the administrator.
(b)Revocation of Election
A participant'srevocation of a death benefit election in favor of receiving executive life or
supplemental group life coverage as life insurance becomes effective on the first of the month
following the date the administratorreceives notification from the insurerthat the insurerhas,
in its discretion, approved evidence of insurability submitted by the participant.
(4)Reinstatement of Coverage
If a participant'sexecutive life or supplemental group life coverage is reinstated after a period in which
the participantwas ineligible for coverage under section 1.3(B) above on account of becoming a
suspended retiree, such coverage shall be reinstated under the option (i.e., life insurance or a death
benefit) in force at the time coverage was lost.
(C)Termination of Coverage
Executive life or supplemental group life coverage terminates for an individual on the date the individual ceases
to be a participant.
2.2Amount of Benefit
(A)Executive Life Coverage
(1)In General
Except as provided in paragraph (2) below, the amount of executive life coverage in effect for a
participantis equal to the applicable percentage determined under the following chart multiplied by the
participant'sannual base pay:
| If the participant's age is | The percentage is |
| Under 65 | 400% |
| 65-69 | 350% |
| 70-74 | 300% |
| 75 and over | 250% |
For this purpose, a participantattains a particular age as of the first day of the month in which the
person will turn such age. In addition, a covered executive'sannual base pay is the base pay in effect at
the time coverage is determined, and a retiree'sbase pay is the base pay in effect for the person
immediately before the person became a retiree.
(2)Transition Severance Terminees
The amount of executive life coverage in effect for a person who is a participantsolely on account of
section 1.3(A)(4) above relating to transition severance terminees is 200% of the person's annual base
pay in effect immediately before the person's termination of employment.
(B)Supplemental Group Life Coverage
Supplemental Group Life Coverage is provided
(1)during retirement to all grandfathered retirees, and
(2)during employment to those persons who become grandfathered retireesafter the effective date.
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The amount of supplemental group life coverage in effect for a grandfathered retireeis equal to the amount of
coverage in effect for the person under the provisions of the Supplemental Group Life Insurance Plan or
Supplemental Group Death Benefit Plan (as such plans existed on December 31, 1999) as of the later of
December 31, 1999 or the date the person retires. The amount of supplemental group life coverage in effect
during employment for a person who becomes a grandfathered retireeafter the effective dateis the amount of
coverage to which they are entitled under the terms of the Supplemental Group Life Insurance Plan or
Supplemental Group Death Benefit Plan (as such plans existed on December 31, 1999).
3.Payment of Benefit
3.1Conditions for Payment of Benefit
If a participantdies while executive life or supplemental group life coverage for that participantis in effect, then the
amount of coverage then in effect for the participantbecomes payable; provided, that proof of death satisfactory to the
insurermust be provided before any benefit becomes payable as life insurance.
3.2Form of Payment
A benefit payable under Section 3.1 above upon a participant'sdeath shall be paid in a lump sum.
3.3Source of Payment
(A)Life Insurance
Executive life and supplemental group life coverage in the form of life insurance shall be provided through one
or more policies of insurance issued by an insurerselected by the Corporation, and any executive life or
supplemental group life benefit payable as insurance shall be paid pursuant to such policy or policies.
(B)Death Benefit
Any executive life or supplemental group life benefit payable as a death benefit shall be paid from the general
assets of the Corporation.
3.4To Whom Paid
A benefit payable under Section 3.1 above upon a participant'sdeath shall be paid as follows:
(A)If a beneficiary designation is in effect at the time of the participant'sdeath, the benefit shall be paid in
accordance with such designation.
(B)If no beneficiary designation is in effect, the benefit shall be paid to the first of the following groups that has at
least one member that survives the participant:
(1)The participant'sspouse.
(2)The participant'schildren. In this event, the benefit will be divided equally among the children who
survive the participantas well as the children who die before the participantleaving children of their
own who survive the participant. In the case of a participant'schild who dies before the participant
leaving children of his or her own who survive the participant, such child's share shall be divided
equally among his or her surviving children.
(3)The participant'sparents. In this event, the benefit will be divided equally among the parents if they
both survive the participant.
(4)The participant'sbrothers and sisters. In this event, the benefit will be divided equally among the
brothers and sisters who survive the participantas well as the brothers and sisters who die before the
participantleaving children of their own who survive the participant. In the case of a brother or sister
who dies before the participantleaving children of his or her own who survive the participant, such
brother or sister's share shall be divided equally among his or her surviving children.
(5)The participant'sexecutors or administrators.
For purposes of this Paragraph (B), a spouse of a participantshall include only someone who is the legal spouse
of the participant, and a child, parent, brother, or sister of a participantshall include only someone who is a
legitimate blood relative of the participantor whose relationship with the participantis established by virtue of a
legal adoption.
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4.Designation of Beneficiary
4.1Designation
A participantmay designate one or more beneficiaries to receive the payment of benefits upon the death of the
participant, or may at any time change or cancel a previously made beneficiary designation.
4.2Forms and Submission
Any beneficiary designation or change or cancellation thereof shall be made on such forms and in such manner as is
satisfactory to the insurer. No beneficiary designation or change or cancellation thereof shall become effective until
received by the insureror its designated agent.
4.3Designation Made Under Prior Plans
Any beneficiary designation made by a participantunder the Supplemental Group Life Insurance Plan or Supplemental
Death Benefit Plan that remains in effect on December 31, 1999, shall continue to be valid under this Plan on and after
the effective dateuntil and unless properly superseded.
5.Miscellaneous
5.1Plan Funding
The funding for executive life and supplemental group life coverage, including the funding of premiums under any life
insurance policy issued in connection with such coverage, shall be paid for by the Corporation; no participant
contributions will be required or permitted.
5.2Assignment of Insurance
(A)Assignment
A participantmay assign to another owner the participant'sinterest in his or her executive life or supplemental
group life coverage provided in the form of life insurance. Such assignment shall be made on such forms and in
such manner as is acceptable to the administratorand the insurer.
(B)Effect of Assignment
(1)In General
When an assignment of a participant'scoverage is in effect as described in paragraph (A) above, then,
except as provided in paragraph (2) below, the participant'sassignee shall have the right to take all
actions under the terms of this Plan with respect to such coverage that the participantwould otherwise
have the right to take, including, without limitation, the right to designate a beneficiary.
(2)Exception
An assignee shall not have the right under this Plan to elect to receive executive life or supplemental
group life coverage as a death benefit under section 2.1(B)(2) above or to revoke an already existing
election.
(C)Assignment Under Prior Plan
Any assignment of coverage made by a participantunder the Supplemental Group Life Insurance Plan shall
continue to be valid under this Plan with respect to executive life and supplemental group life coverage.
5.3Amendment and Termination
The Corporation's parent entity, ExxonMobil Holdings Corporation,at any time, by action of any duly authorized
officer, may amend or terminate this Plan in whole or in part.
5.4Responsibilities and Authority of Administrator
The administratorshall fulfill all duties and responsibilities of a "plan administrator" required by the Employee
Retirement Income Security Act of 1974, as amended. The administratorshall have the authority to control and manage
the operation and administration of this Plan, including, without limitation:
(A)discretionary and final authority to determine eligibility and to administer this Plan in its application to each
participantand beneficiary; and
(B)discretionary and final authority to interpret this Plan, in whole or in part, including but not limited to,
exercising such authority in conducting a full and fair review, with such interpretation being conclusive for all
participants and beneficiaries under this Plan.
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5.5Claim Appeal Process
(A)Submission of Appeal
In the event a claim for benefits is denied, the claimant has the right to appeal to the administrator. A written
request to review a denied claim must be received by the administratorwithin 90 days after the claim denial.
The request may state the reasons the claimant believes he or she is entitled to Plan benefits, and may be
accompanied by supporting information and documentation for the administrator'sconsideration.
(B)Decision
The administratorshall decide appeals in accordance with the administrator'sfiduciary authority set out in
section 5.4 above. Appeal decisions will be made within 60 days of the receipt of the claim by the administrator
unless special circumstances warrant an extension of time. If an extension of time is required, the administrator
will notify the claimant of the extension. In all cases, the decision will be made no later than 120 days after the
receipt of the claim by the administrator. The appeal decision shall be in writing, specify the reasons for the
decision, and refer to the relevant Plan provision(s) on which the decision is based.
5.6Definitions
The following terms shall have the following meanings ascribed to them:
(A)"Administrator" means the Manager, Compensation and Executive Plans, Human Resources Department,
Exxon Mobil Corporation.
(B)"Corporation" means Exxon Mobil Corporation.
(C)"Covered Employee" has the meaning set out in the ExxonMobil Benefit Plans Common Provisions.
(D)"Covered Executive" means a covered employeewho has a classification level of 35 or higher; provided,
however, that the group of covered executives shall be frozen as of September 30, 2007, and no individual shall
become a covered executive on or after October 1, 2007.
(E)"Effective Date" means January 1, 2000.
(F)"Grandfathered retiree" means a person who
(1)became a retireeprior to the effective date, and was covered under the Supplemental Group Life
Insurance Plan or Supplemental Death Benefit Plan immediately prior to the effective date, or who
(2)becomes a retireeafter the effective dateafter having been given the opportunity to elect and having
elected continued coverage under the Supplemental Group Life Insurance Plan or Supplemental Death
Benefit Plan.
(G)"Insurer" means the insurance company that is the issuer of the policy of insurance described in section 3.3(A)
above.
(H)"Participant" means a covered executive, retiree, or grandfathered retiree, as the context requires.
(I)"Retiree"
(1)In General
"Retiree" has the meaning set out in the ExxonMobil Benefit Plans Common Provisions.
(2)Transition Severance Cases
(a)Treatment as Covered Annuitant
Solely for purposes of this Plan, a person who is described in paragraph (b) below shall be
treated as if he or she were a retiree.
(b)Eligibility
A person is described in this paragraph (b) if the person
(i)terminates employment as a covered executive;
(ii)is at least 50 years old by the end of the month in which the termination of
employment occurs;
(iii)has at least 10 years of benefit plan service (as defined in the ExxonMobil Benefit
Plans Common Provisions) at the time of the termination of employment; and
(iv)upon termination of employment receives a benefit under the Exxon Transition
Severance Plan.
(c)Termination of Provision
This paragraph (2) shall not apply to any person who fails to meet the eligibility requirements
set out in paragraph (b) above on or before August 31, 2000.
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(J)"Suspended retiree"
(1)In General
"Suspended Retiree" means a person who becomes a retireeby virtue of being incapacitated within the
meaning of the ExxonMobil Disability Plan and commences long-term disability benefits under such
Plan, but whose benefits under such Plan thereafter cease by virtue of
(a)the person no longer being incapacitated, or
(b)the person's failure to report non-rehabilitative employment.
(2)Period
A person remains a suspended retireeuntil the earlier of (1) the date the person attains age 55, or (2)
the date the person commences his or her benefit or receives a lump-sum settlement under the
ExxonMobil Pension Plan, at which time the person is again considered a retiree.