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SUNNYISLES <br />1703779 <br />City of Sunny Isles Beach <br />SCHEDULE OF INSURANCE <br />Option 2.01 <br />Proposed Effective Date: January 01, 2002 <br />CLASSIFICATION <br />AMOUNT OF BENEFIT <br />Life Accidental Death <br />Insurance and Dismemberment <br />Class 1 All Active Full Time Employees Except Department <br />Managers, City Manager, & Attorney <br />Class 2 Department Managers & City Attorney <br />Class 3 City Manager <br />(24 Hour) <br />1.00 times annual salary, <br />rounded to the next higher 1,000, <br />subject to a maximum of 300,000 <br />2.00 times annual salary, <br />rounded to the next higher 1,000, <br />subject to a maximum of 300,000 <br />300,000 <br />The amount of Life Insurance and AD &D for Class 1, 2, 3 will reduce: <br />-35% upon the Person's attainment of age 65 <br />-an additional 25% of the original amount at age 70 <br />-an additional 15% of the original amount at age 75 <br />Benefits will terminate upon retirement. <br />300,000 <br />Annual Salary means only the salary or wage an Insured Person receives for services rendered to the Group <br />Policyholder. It does not include bonuses, overtime pay or other extra compensation other than commissions. <br />Commissions will be averaged over the 12 month period prior to the date disability begins. <br />Guarantee Issue Amount: 250,000 <br />0 <br />Jefferson Pilot Financial Insurance Company <br />3 11/16/2001 <br />