AMENDMENT NUMBER ONE TO THE AMERICAN FEDERATION OF MUSICIANS AND EMPLOYERS’ PENSION PLAN (As Amended and Restated Effective as of January 1, 2002)

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Amendment No. 1

WHEREAS, on February 20, 2002, the Board of Trustees (the "Board") of the American Federation of Musicians and Employers’ Pension Fund adopted the American Federation of Musicians and Employers’ Pension Plan, as amended and restated effective as of January 1, 2002 (the "Plan"); and

WHEREAS, pursuant to Article 9, Section 9.01 of the Plan, the Board reserves the right to amend the Plan at any time; and

WHEREAS, the Board now desires to amend the Plan to (i) comply with the final Treasury Regulations promulgated under Section 401(a)(9) of the Internal Revenue Code of 1986, as amended, (ii) comply with Internal Revenue Service Revenue Ruling 2001-62, (iii) modify the exclusive procedure for correcting Plan records relating to covered employment, and (iv) make certain other clarifications to the Plan.

NOW, THEREFORE, the Plan is hereby amended as follows:

1. Article 5 ("Pension Eligibility and Amounts"), Section 5.03 ("Regular Pension Benefit Amount") is hereby amended, effective as of January 1, 2002, by restating subsection (b) thereof in its entirety to read as follows:

"(b) Actuarial Adjustment of Deferred Pension Benefit. Notwithstanding the provisions of subsection (a) above, if a Participant's Annuity Starting Date is after the Participant attains Normal Retirement Age, and no Contributions have been made to the Trust Fund on behalf of such Participant after Normal Retirement Age, the amount of the Participant’s monthly pension benefit commencing on the Participant’s Annuity Starting Date shall be the Actuarial Equivalent monthly amount of the monthly pension benefit that would have been payable as of the Annuity Starting Date if the benefit had commenced at Normal Retirement Age (plus the Actuarial Equivalent monthly amount of any increases in benefits to pensioners described in Section 5.09 below that went into effect between the Normal Retirement Age and Annuity Starting Date). All amounts calculated hereunder will be subject to adjustment if the benefit is being distributed in the form of a Joint and Survivor Annuity."

"Furthermore, notwithstanding any other Plan provisions to the contrary, the mortality table prescribed in Internal Revenue Service Revenue Ruling 2001-62 shall be used for purposes of adjusting any benefit or limitation under Section 415(b)(2)(B), (C), or (D) of the Code."

"(1) Subject to the provisions of subsection (d) of this Section and the provisions of Section 8.05, the Participant's Beneficiary may file a written election, on the form(s) provided by the Plan Administrator for such purpose, to receive distribution of the death benefit amount described in subsection (b) of this Section in one of the options specified in subparagraphs (A), (B), (C), and (D) of this paragraph (1) below; provided, however, that if the Beneficiary is not the Participant’s surviving spouse, the options specified in subparagraphs (A), (B), and (C) of this paragraph (1) shall be available only if the Beneficiary's written election is filed on or before November 15 of the calendar year immediately following the calendar year in which the Participant died. Notwithstanding the foregoing, if the Beneficiary is the estate of the Participant (or the estate’s duly appointed executor or administrator), distribution of the death benefit amount described in subsection (b) of this Section shall be made only in the form specified in subparagraph (D) of this paragraph (1).

1. if the Participant dies after attaining Normal Retirement Age, the Survivor's Pension with payments commencing as soon as administratively practicable following the death of the Participant;
   
   
2. if the Participant dies before attaining Normal Retirement Age, the Survivor's Pension with payments commencing at any time following the Participant's death which is prior to the date the Participant would have attained Normal Retirement Age, but not later than December 31 of the calendar year immediately following the calendar year in which the Participant died if the Participant’s Beneficiary is not the Participant’s surviving spouse;
   
   
3. monthly installments commencing as soon as administratively practicable following the death of the Participant, with each payment equal to the following amount (subject to any subsequent adjustment pursuant to Section 5.09 hereof): (i) for Participants who die prior to July 1, 2002, the monthly Regular Pension Benefit the Participant would have been entitled to had he or she been age 65 and elected to receive a Regular Pension Benefit the day before his or her death; or (ii) for Participants who die on or after July 1, 2002, the monthly Regular Pension Benefit the Participant would have been entitled to had he or she elected to receive a Regular Pension Benefit the day before his or her death (or, for Participants who are under age 55 at the time of death, the monthly Regular Pension Benefit the Participant would have been entitled to had he or she been age 55 and elected to receive a Regular Pension Benefit the day before his or her death); or
   
   
4. the lump-sum payment of the death benefit described in subsection (b) of this Section or, if greater, the Participant's Retirement Account balance (as described in Section 6.01), if any, as soon as administratively practicable following the death of the Participant."

"(e) Death Prior to Distribution. If a Participant dies before distribution of his or her benefit begins, distribution of the Participant's benefit shall be made in accordance with one of the following methods:

1. any distribution of all or a portion of a Participant's interest to a Beneficiary (other than the Participant’s surviving spouse) in a lump sum shall be made by December 31 of the calendar year in which the fifth anniversary of the Participant's death occurs;
   
   
2. any distribution of all or a portion of a Participant's interest to a Beneficiary (other than the Participant’s surviving spouse) in accordance with one of the forms of payment described in subparagraphs (A), (B) or (C) of Section 7.02(c)(1) shall be made over the life or over a period certain not greater than the life expectancy of the Beneficiary and shall commence on or before December 31 of the calendar year immediately following the calendar year in which the Participant died;
   
   
3. if the Beneficiary is the Participant's surviving spouse, except with respect to a distribution which is required to begin earlier under the provisions of Section 7.02(c)(1), the date distributions are required to begin shall not be earlier than the later of (i) December 31 of the calendar year immediately following the calendar year in which the Participant died, and (ii) December 31 of the calendar year in which the Participant would have attained age 70 1/2.

If the Participant’s surviving spouse is the Beneficiary and dies after the Participant, but before payments to such spouse begin, the provisions of this subsection (e), with the exception of paragraph (3), shall be applied as if the surviving spouse were the Participant. To the extent required by law, any amount paid to a child of the Participant will be treated as if it had been paid to the surviving spouse if the amount becomes payable to the surviving spouse when the child reaches the age of majority."

"(e) If a request for correction of the Plan's records with respect to Covered Employment or Contributions is received by the Plan more than six years after the end of the calendar year in which the Participant received wages for that Covered Employment, the request will not be granted unless the Applicant provides the required evidence listed below and that evidence establishes that the Participant is entitled to additional credit. The required evidence is all of the following:

1. a Form B session report or other applicable remittance report for the work in question; plus
   
   
2. a collective bargaining agreement or an employer participation agreement covering the work in question; plus
   
   
3. proof that the Participant received wages for the work in question. Proof that the Participant received wages must consist of at least one of the following: (i) a copy of a paycheck or paycheck stub; (ii) the Participant's federal income tax return for the year in question accompanied by all I.R.S. Forms W-2 and 1099, or (iii) an earnings statement from the Social Security Administration for the year in question."