25D - AGMT RECORDKEEPING SVC 457 PLAN

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(ii) Transfers to the GIA from another Plan investment vehicle, and (iii) Credited Interest, and (B) is the sum of (i) Expenses, if any, and (ii) Transfers, Distributions or Termination Disbursements from the GIA. 1.6 VALUATION DATE. For purposes of valuing the GIA, the term Valuation Date refers to each day that We are open to transact normal business. 1.7 DEFERRALS. We may defer Transfers, Distributions or Termination Disbursements from the GIA under Section 3.3 of the Base Agreement if: (A) the New York Stock Exchange is closed, other than customary weekend and holiday closings, or trading on the New York Stock Exchange is restricted; (B) an emergency exists as a result of which disposal by PRIAC of assets that are underlying investments for the Guaranteed Income Fund is not reasonably practical; or (C) the Securities and Exchange Commission by order permits. The Securities and Exchange Commission shall by rules and regulations determine the conditions under which (i) trading shall be deemed to be restricted and (ii) an emergency shall be deemed to exist. However, during the deferral period We may continue payments to investors ratably as the Guaranteed Income Fund cash flow permits. During the deferral period We will continue to apply Credited Interest. 1.8 TRANSFER LIMITATIONS Transfers between the GIA and a Competing Fund may be made, provided the amount to be transferred is first transferred to a Plan investment option that is not a Competing Fund and such amount is held in that fund for a period of at least ninety (90) days before being transferred to a Competing Fund. A Competing Fund is an investment option available under the Plan that is primarily comprised of high quality fixed income securities with an average duration.of less than or GA -2020 -GIF -FS -0805 25D-57 Addend=457single_PRIAC_2020-GIF-FS-0805