SCHEDULE OF BENEFITS EFFECTIVE DATE: January 1, 2023 ELIGIBLE CLASSES: Each active, Full-time Superintendent and Administrator, except any person employed on a temporary or seasonal basis. YOUR EFFECTIVE DATE: The first of the month following the day you become eligible. INDIVIDUAL REINSTATEMENT: 6 months LONG TERM DISABILITY BENEFIT ELIMINATION PERIOD: 90 consecutive days of Total Disability. MONTHLY BENEFIT: The Monthly Benefit is an amount equal to 66 2/3% of Covered Monthly Earnings. To figure this benefit amount payable: (1) multiply your Covered Monthly Earnings by the benefit percentage(s) shown above; (2) take the lesser of the amount: (a) of step (1) above; or (b) the Maximum Monthly Benefit shown below; and (3) subtract Other Income Benefits, as shown below, from step (2), above. We will pay at least the Minimum Monthly Benefit as follows. OTHER INCOME BENEFITS: Other Income Benefits are: (1) disability income benefits you are eligible to receive because of your Total Disability under any group insurance plan(s); (2) disability income benefits you are eligible to receive because of your Total Disability under any governmental retirement system, except benefits payable under a federal government employee pension benefit; (3) all benefits (except medical or death benefits) including any settlement made in place of such benefits (whether or not liability is admitted) you are eligible to receive because of your Total disability under: (a) Workers' Compensation Laws; (b) occupational disease law; (c) any other laws of like intent as (a) or (b) above; and (d) any compulsory benefit law; (4) any of the following that you are eligible to receive from the Policyholder: (a) any formal salary continuance plan; (b) wages, salary or other compensation, excluding the amount allowable when engaged in Rehabilitative Employment; and (c) commissions or monies, including vested renewal commissions, but, excluding commissions or monies that you earned prior to Total Disability which are paid after Total Disability has begun; (5) that part of disability benefits paid for by the Policyholder which you are eligible to receive because of your Total disability under a group retirement plan; and (6) that part of Retirement Benefits paid for by the Policyholder which you are eligible to receive under a group retirement plan; and (7) disability or Retirement Benefits under the United States Social Security Act, the Canadian pension plans, or any other government plan for which: (a) you are eligible to receive because of your Total Disability or eligibility for Retirement Benefits; and (b) your dependents are eligible to receive due to (a) above. Disability and early Retirement Benefits will be offset only if such benefits are elected by you or if election would not reduce the amount of your accrued normal Retirement Benefits then funded. Retirement Benefits under number (7) above will not apply to disabilities which begin after age 70 if you are already receiving Social Security Retirement Benefits while continuing to work beyond age 70. LRS-6570-1-0406 Page 1.0