AMENDMENT NUMBER TWO 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. 2

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) provide that the participant's spouse will be the automatic beneficiary of the pre-retirement death benefit payable on behalf of a nonvested participant who is married at death; and (ii) clarify the eligibility requirements for a lump-sum disability award.

NOW, THEREFORE, the Plan is hereby amended as follows, effective as of the dates set forth below:

1. Article 1 ("Definitions"), Section 1.08 ("Beneficiary") is hereby amended, effective as of April 1, 2003, by substituting the phrase "Articles 6, 7 and 8" for the phrase "Articles 7 and 8" where it appears in the second paragraph thereof.

2. Article 5 ("Pension Eligibility and Amounts"), Section 5.06 ("Lump-Sum Disability Award") is hereby amended, effective January 1, 2002, by replacing the language preceding the colon with the following

"A Participant who ceases work with a Contributing Employer on account of Total Disability (as determined in accordance with Section 5.04(b) above) prior to completion of the number of Years of Vesting Service required in Section 5.04(b) above, and prior to satisfaction of the eligibility requirements for commencement of a Regular Pension Benefit (as set forth in Section 5.02 above), shall be eligible to receive a lump-sum disability award of $2,000 (in lieu of any other Disability Pension Benefit hereunder), if the following two requirements are satisfied"

"Notwithstanding anything contained herein to the contrary, if the Participant has an Eligible Spouse at the time of death, the Participant?s Eligible Spouse shall be the Beneficiary of the death benefit payable under this subsection (d)."

"Notwithstanding anything contained herein to the contrary, if the Participant has an Eligible Spouse at the time of death, the Participant?s Eligible Spouse shall be the Beneficiary of the death benefit payable under this Section."