GROUP LIFE INSURANCE PROGRAM Group Life Insurance offers future protection for the people who depend on you for financial support today.

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1 GROUP LIFE INSURANCE PROGRAM Group Life Insurance offers future protection for the people who depend on you for financial support today. If you are a regular, full-time employee, the Getty Life Insurance Program can ensure that your family will be protected in the event of your death. Limitedterm employees are not eligible for Group Life Insurance. At no cost to you, regular, full-time employees are provided with the following plans: o Group Life Insurance o Accidental Death and Dismemberment (AD&D) Insurance o Business Travel Accident Insurance. Group Life Insurance If you die while you are a participant in the plan and you are under age 65, your beneficiary(ies) will receive an amount equal to two times your annual salary, rounded to the next higher $1,000, up to $1,200,000. For example, if when you die you are earning $40,300 a year, your beneficiary will receive: 2 x $40,300 = $80,600, rounded to $81,000. If you are age 65 or older, your life insurance benefit will be reduced according to the schedule below: Age Percentage of Annual Salary Benefit Amount 65 but younger than 70 65% 70 or older 50% (or $50,000, whichever is less) Summary Plan Description Page 24 February 2008

2 So, for example, if you are age 65 when you die and you are earning $50,000 a year, the life insurance amount paid to your beneficiary will be $65,000 {65% of (2 x $50,000)}. Note: The amount of any group life insurance benefits you are eligible to receive will be reduced by the amount of accelerated benefits you have received, if applicable. See Accelerated Benefits on page 26 for more information. If Your Salary Changes Your group life insurance benefit (two times your annual base pay, rounded to the next higher $1,000) is based on your annual base salary when you first become covered under this plan. If your salary changes, your group life insurance benefits are adjusted accordingly on the first of the month following the date of the change, provided you are actively at work on that date. Continued Death Benefits During Total Disability If you become totally disabled while covered under the Group Life Insurance Plan, your coverage under the plan may continue for up to 12 months if: You become totally disabled before your life benefits end You are younger than age 60 when your disability begins Your disability continues until the day you die, and You provide MetLife with proof of your disability. Total Disablity under the Group Life Insurance Plan means that due to an injury or sickness: You are unable to perform the material duties of your regular job; and You are unable to perform any other job for which you are qualified by education, training or experience. This benefit is not available if you choose to convert to a personal life insurance policy. Summary Plan Description Page 25 February 2008

3 The amount of your death benefit is based on your age at your death as shown below. The reductions will be applied to the amount of Group Life Insurance that was in effect on the date you became disabled. Age Percentage of Life Insurance Benefit Amount if Disabled Younger than age % 65 but younger than 70 65% 70 or older 50% (or $50,000, whichever is less) If you become disabled HR Benefits will assist you with filing a waiver application. No later than one year from the date of your disability, you must submit satisfactory proof to MetLife that you have been disabled for at least nine months. MetLife may also periodically require that you submit satisfactory proof of your continued disability, or that you be examined by a doctor. MetLife will select the doctor and pay for the examination. Additionally, upon your death, evidence that your disability continued until your death must be given to MetLife. Your benefits will end on the date your total disability ends, or on the date you do not submit the required proof of your disability to MetLife when requested. Accelerated Benefits You may be eligible to receive accelerated Group Life Insurance benefits provided: o A doctor certifies that your life expectancy is less than six months o You are younger than age 65, and o Your Getty Group Life Insurance benefits are in effect. Payment will be made only once and will reduce the amount of life insurance your beneficiary would receive. Also, if you receive accelerated benefits, the amount available to you for conversion to a personal life insurance policy will be reduced. You must be living in order to receive payment of accelerated benefits. Summary Plan Description Page 26 February 2008

4 Before payment is made, you must submit proof to MetLife that you satisfy the requirements for accelerated benefits. MetLife may also require that you be examined by a doctor of its choice at MetLife s expense. MetLife will determine the amount of accelerated benefits paid to you. The amount will not be more than 50% of your life insurance, determined as of the date MetLife accepts proof that you satisfy the requirements, up to a maximum amount of $250,000. If your life insurance amount is scheduled to be reduced within six months of the date MetLife accepts proof of your eligibility for accelerated benefits (based on your age, as explained on page 26), the benefits payable will be up to 50% of that reduced amount. To apply for Accelerated Benefits, contact HR Benefits at Exclusions You are not eligible to receive accelerated benefits if: You have assigned your life benefits All or part of your life insurance is to be paid to your former spouse as a result of a divorce agreement You attempt suicide, injure yourself intentionally, abuse alcohol or drugs You are injured or killed during a war or warlike action in a time of peace or any other event occurring while you are in violation of criminal law The amount of your life insurance or continued death benefit during total disability is less than $10,000, or A government agency is requiring you to request accelerated benefits in order to apply for, obtain, or keep a government benefit or entitlement. Beneficiary Under community property law, a spouse has an ownership interest in 50% of the income earned or property acquired during the marriage. Therefore, spousal consent is necessary in the event that you name someone other than your spouse as your beneficiary. Forms are available at or you may request one from your Human Resources Coordinator. Accidental Death and Dismemberment Accidental Death and Dismemberment (AD&D) Insurance provides additional coverage in the event you suffer an accidental loss of life, limb, or sight within 90 days following an accident. Loss of limb includes loss of use of a limb. This insurance covers eligible employees 24 hours a day for any type of accident provided: Summary Plan Description Page 27 February 2008

5 That accident is the sole cause of the injury; and That injury is the sole cause of the covered loss; and That covered loss occurs not more than 90 days after the date of the accident. Coverage Amount Your annual salary determines your AD&D coverage. If you die in an accident, your beneficiary will receive AD&D insurance equal to 100% of your Group Life Insurance benefit. See Group Life Insurance on page 24 for more information on coverage amount. Dismemberment Schedule The AD&D Plan pays the full amount of the coverage if you: Lose both hands or both feet Lose sight in both eyes Lose one hand and one foot, or Lose one hand or one foot and sight in one eye. One-half of the total benefit is paid if you: Lose one hand Lose one foot, or Lose sight in one eye. Loss of sight means total and permanent loss of sight; loss of a hand means the entire hand is cut off at or above the wrist; loss of a foot means the entire foot is cut off at or above the ankle. Multiple Losses If you suffer multiple losses as the result of one accident, the AD&D plan pays only the maximum coverage amount for all the losses. For example, if your AD&D coverage is $90,000 and you lose a hand in an accident, you would receive 50% of the total coverage, or $45,000. If you later die because of injuries suffered in the same accident, your beneficiary would be eligible for an additional $45,000 (not an additional $90,000). Exclusions Benefits are not payable for a loss resulting from: Diagnosis of or treatment for physical or mental illness An infection, unless it is caused by an external wound that can be seen and that was sustained in the accident Suicide or attempted suicide Injuring yourself on purpose Summary Plan Description Page 28 February 2008

6 The use of any drug or medicine A war or a warlike action in time of peace, including terrorist attacks Committing or trying to commit a felony, other serious crime, or assault Driving a vehicle while intoxicated as defined by the laws of the jurisdiction. Business Travel Accident Insurance The J. Paul Getty Trust provides you with Business Travel Accident Insurance that pays a specified amount to your beneficiary if you die while traveling on approved Getty business. Coverage Amount If you die while working for the Getty and traveling on an authorized trip, your beneficiary will receive an amount equal to three times your annual salary up to $1,500,000. Common Accident Limit In the event of a common accident with other eligible Getty employees for which total benefits payable under this plan exceed $4,000,000, the plan will pay to each employee or beneficiary involved a share of the $4,000,000. The amount to be paid will be in the same proportion to the benefit ordinarily payable so that the total amount does not exceed $4,000,000. Conditions of Coverage Your coverage begins at the start of a business trip, either from your residence or place of regular employment, whichever occurs later. The coverage ends when you return to your home or place of regular employment, whichever occurs first. If you take a personal trip during the course of your business travel, you continue to be covered for a maximum of seven days. This is the Personal Sojourn Benefit. See page 31 for more information. Dismemberment Schedule The Business Travel Accident Plan pays the full amount of the coverage if you: Lose your life or two or more members Lose speech and hearing in both ears. One-half of the total benefit is paid if you: Lose one member or speech or hearing in both ears. One-quarter of the total benefit is paid if you: Lose hearing in one ear, or lose a thumb and index finger on the same hand. Summary Plan Description Page 29 February 2008

7 Loss of a member is defined as a hand, a foot or an eye. Loss of sight means total and permanent loss of sight. Multiple Losses If multiple members are lost as a result of a covered accident, payment is made only for the loss for which the largest amount is payable. Exposure and Disappearance Provision In the event that the loss occurs because of unavoidable exposure to the elements, the plan will consider the exposure to be an accidental bodily injury. If your body is not recovered within one year after the conveyance you were traveling in disappeared, sank, made a forced landing or was wrecked, the plan will pay a benefit for the loss. Coma Benefit If, as the result of a covered accident and within 365 days of the accident, you enter into a coma, the Plan will pay a monthly benefit to your beneficiary. Coma is defined as being in a complete state of mental unresponsiveness with no evidence of appropriate response to stimulation for at least 31 consecutive days. The monthly coma benefit is 1% of the total Business Travel Accident coverage amount, payable for a total of 100 months. So, if an injured person is in a coma as the result of a covered accident and has $100,000 in coverage, the monthly benefit is $1,000. Other benefits received as a result of the same accident, such as the Seat Belt Benefit, would be subtracted from the coma benefit. Your beneficiary is responsible for providing the insurance carrier with proof of your continuing comatose condition. See page 48 for the carrier s address and phone number. Seat Belt Benefit If you die while a passenger or while operating an automobile and you were properly using a seat belt at the time the covered accident occurs, the Seat Belt Benefit equal to 10% of the Accidental Loss of Life Benefit will be paid. Not more than $10,000 per person will be paid. Seat belt usage must be verified in the police accident report or in a signed statement by a doctor, paramedic, police officer, coroner or any other accepted authority who was at the accident scene. The Seat Belt Benefit will not be paid if the automobile was used: o In a race, speed or driver s test, for acrobatic or stunt driving o For any illegal purposes or on other than a regularly maintained roadway, or Summary Plan Description Page 30 February 2008

8 o By an operator who is under the influence of alcohol or a controlled substance. Commuting To and From Work Coverage is extended to include commuting directly to and from work. However, this does not include travel during leaves of absence or vacations. Personal Sojourn Benefit Business Travel Accident Insurance shall also include sojourns taken for personal reasons during the course of an authorized trip. However, such travel shall not exceed seven consecutive days. Worldwide Emergency Assistance Services Employees traveling on Getty-approved business can call International SOS and be connected to a network of multilingual specialists for immediate help in an emergency. The covered services help with medical, personal, travel, security or legal problems when away from home on Getty business. It is important to know that this service is not an insured contract and does not cover or reimburse you for expenses incurred during an emergency, including medical care. It is designed to offer those traveling on Getty-related assignments assistance in the event of an emergency. Call Benefits at or send an to Benefits@getty.edu to request a summary of services provided by this program. Receiving Benefits Who Receives Payments If you die, your benefits for Group Life Insurance, AD&D Insurance and Business Travel Accident Insurance are paid to your designated beneficiary on file with HR Benefits. If you become terminally ill, accelerated Group Life Insurance benefits may be paid to you after you apply for them. See Accelerated Benefits on page 26 for more information. If you are injured, any applicable AD&D and Business Travel Accident benefits are paid directly to you. Beneficiary Designations When you become eligible for the Group Life Insurance Program, you will be asked to complete a Beneficiary Designation Form. You can name any person or entity (such as your estate, or a personal trust) as a beneficiary. You can also Summary Plan Description Page 31 February 2008

9 name more than one beneficiary and indicate the amount you wish to be paid to each. Beneficiary Designation Forms are available on or you may request one from your Human Resources Coordinator. On the form, you must indicate which benefits (Group Life, AD&D, Business Travel Accident) each beneficiary will receive. Under community property law, a spouse has an ownership interest in 50% of the income earned or property acquired during the marriage. Therefore, in the case of a married participant, spousal consent is necessary if you name someone other than your spouse as the beneficiary. If you do not name a beneficiary, or if the beneficiary you have named is not living at the time of your death, the Group Life Insurance benefit will normally be paid to your estate. You should review your beneficiary designation periodically to make sure it reflects your current needs. As changes occur in your family, you may wish to change your beneficiary designation. You can change your beneficiary at any time by completing a new Beneficiary Designation Form, available at or you may request one from your Human Resources Coordinator. If you do not name a beneficiary, or if your named beneficiary predeceases you, under Business Travel Accident Insurance, benefits are payable to the surviving person as follows: your spouse, your children, your parents, your brothers and sisters, your estate. Optional Methods of Payment Individual life insurance needs may be different. Group Life Insurance and AD&D Insurance benefits are paid in the form of a checking account through MetLife, called the Total Control Account Money Market Option. With the Total Control Account, your beneficiary will have full control over how and when he or she will use the funds from your life insurance by writing checks for as little as $250 up to the total value in the account. This account is free of checking account charges and will continue to earn interest for as long as your beneficiary maintains it and there is no time limit. Payments to beneficiaries from Business Travel Accident Insurance claims are generally made in a lump-sum cash payment. Summary Plan Description Page 32 February 2008

10 Leaves of Absence During the course of your employment with the Getty, situations may come up that require a temporary absence from work. The effect of these absences on your life insurance coverage depends on both the length and nature of your absence. Group Life Insurance and AD&D Insurance coverage normally will continue for short absences of up to 12 months due to personal illness, death of a family member, maternity leave, family leave, jury duty or military leave. Business Travel Accident Insurance benefits do not continue while you are on a leave of absence. If you must be absent from work, you should discuss the effect of this absence on all your benefit plans with a member of HR Benefits. For more information, go to page 5. How to Apply for Benefits You or your beneficiary can obtain Group Life, AD&D and Business Travel Accident Insurance claim forms on or you may request them from your Human Resources Coordinator. You or your beneficiary should follow the instructions on the forms carefully and answer all questions in full. A copy of the death certificate must be included with each form, if applicable. In addition, medical statements or other documents that may be required should also be included with the completed forms. When you or your beneficiary complete the claim forms, return them along with any necessary documents to HR Benefits. Each claim will then be forwarded to the appropriate insurance company with certification that you were covered under the plan in effect at the time of the incident. See page 48 for insurance carrier contact information. If you are claiming a dismemberment benefit, the insurance company may require you to be examined by a doctor of its choice and at its expense. Additionally, the insurance company may require that an autopsy be performed in the event of your death.