Massachusetts Mutual Employee Severance Payment Plan Summary Plan Description Effective April 1, 2010

Massachusetts Mutual Employee Severance Payment Plan Summary Plan Description Effective April 1, 2010 This Summary Plan Description (SPD), published in March 2011, takes the place of any SPDs and Summaries of Material Modifications (SMMs) previously issued to you describing your benefits. MassMutual Severance Plan Employees March 2011 Page 1 of 18

Table of Contents Disclaimer...3 Introduction...4 Eligibility...5 How the Plan Works...7 Claiming Benefits...9 Appeals Procedures...10 Administrative Information...11 Plan Information...12 ERISA Rights...14 Dictionary Terms...16 MassMutual Severance Plan Employees March 2011 Page 2 of 18

Disclaimer This Summary Plan Description (SPD) provides details of the severance benefit available through the Massachusetts Mutual Employee Severance Payment Plan (the Plan ). This SPD contains detailed and important information about the Plan; every attempt has been made to communicate this information clearly and in easily understandable terms. This SPD replaces and supersedes all previous SPD versions and Summaries of Material Modifications (SMMs). Benefits are determined under the terms of the Plan in effect at the time you become eligible for the specific benefits. Benefits are based on current laws and regulations, which are subject to change. Massachusetts Mutual Life Insurance Company ( the Company or MassMutual ) reserves the right to modify, revoke, change, suspend or terminate any one or all plans, programs, policies, benefits or services described in this SPD or the underlying Plan documents at any time and from time to time, with or without notice. This SPD does not guarantee any particular benefit. Receipt of this SPD describing the Plan or option for which you are not eligible does not imply that you are eligible. In the event of a discrepancy between descriptions in this SPD and information in relevant Plan documents, the Plan documents will govern. MassMutual Severance Plan Employees March 2011 Page 3 of 18

Introduction The Massachusetts Mutual Employee Severance Payment Plan provides severance benefits to certain employees involuntarily terminated from employment because of a position elimination at MassMutual or a participating subsidiary, or a family relationship not permitted under the Company s Anti-Nepotism Policy. This Plan is intended to be an ERISA welfare plan. MassMutual Severance Plan Employees March 2011 Page 4 of 18

Eligibility Eligible Employees You may be eligible for Plan benefits if you are an employee of MassMutual regularly scheduled to work 20 or more hours per week for one of the following companies: Babson Capital Management LLC Cornerstone Real Estate Advisers LLC Invicta Advisors LLC Massachusetts Mutual Life Insurance Company MassMutual International LLC MML Investors Services, Inc. The MassMutual Trust Company, FSB Ineligible Individuals You are not eligible for Plan benefits if you are: A general manager; An employee of a Company who is not participating in the Plan; A long-term project employee; A temporary employee, Information Security Organization (ISO) Academy employee, intern or school-towork program employee; An employee regularly scheduled to work less than 20 hours per week, including periods in which you are a trainee, in a Company training program or temporarily working an increased schedule, such as school breaks and vacations; An employee of any non-participating subsidiary or affiliate of MassMutual; A foreign national employee of MassMutual International LLC regularly assigned to a worksite outside the United States; An employee of MassMutual or a participating subsidiary who is an executive or senior officer or in a designated position in a participating subsidiary; A person under contract with or employed by an agency, including, but not necessarily limited to, secretaries and development and district office clerks employed by a general agent, general manager, broker or agent; A person who is not recorded as an employee on the employment and payroll records of the Employer, including anyone who is subsequently reclassified by a court of law or regulatory body as a common law employee of that company; A person who performs services for the Plan sponsor or an associated employer as an independent contractor, under an employee leasing arrangement or any other non-employee or non-payroll classification; or A person who was formerly under contract with or employed by an agency and placed on the Company s payroll during a transition period in which there is no general agent in the agency office, or during a period in which a general manager is assigned to the agency. MassMutual Severance Plan Employees March 2011 Page 5 of 18

Eligibility for Severance Benefits You are eligible to participate in the Plan and receive severance if you are involuntarily terminated, as defined by the Plan, from employment at MassMutual or a participating subsidiary due to position elimination or a family relationship not permitted under the Company s Anti-Nepotism Policy. Position elimination means Involuntary Termination by MassMutual or a participating subsidiary or affiliate when your job is eliminated due to economic, business or organizational changes. It includes, but is not limited to, jobs eliminated due to functional eliminations, organizational restructuring, volume related job reductions, task consolidations or redistributions, field office closings or other reductions in force that, in the judgment of management, are necessary for the Employer. It also includes instances where the Employer sells, transfers or outsources a business function or business unit to another entity and you are working in that unit but are not offered a reasonably comparable position by the new entity or Employer. Relocation of your worksite more than 50 miles is considered Involuntary Termination due to position elimination. Constructive discharge is neither Involuntary Termination nor position elimination. Reassignment is not position elimination. Transfer of employment to MassMutual or a subsidiary of MassMutual, including subsidiaries that do not participate in the Plan, whether voluntarily or involuntarily, is not a termination of employment, as defined by the Plan. Ineligibility for Severance Benefits You are not eligible to receive Plan benefits if your termination is due to reasons other than position elimination or violation of the Anti-Nepotism Policy, including, but not limited to: Divestiture Termination; Disability Termination; Voluntary Termination; Performance Termination; Voluntary or involuntary transfer of employment between companies of the MassMutual Financial Group; or Voluntary or Involuntary Termination before the end of the job elimination Notification Period. MassMutual Severance Plan Employees March 2011 Page 6 of 18

How the Plan Works Severance Pay If you are eligible for severance pay, payment is based on three factors: Compensation at termination; Completed Years of Service at termination; and Prior severance benefits you received. Compensation is your base annual salary at the time of termination and does not include: Bonuses; Cash awards; Incentive payments; Overtime pay; Prizes; Reimbursements of business and other expenses; Shift differential pay; or Other payments. Note: If you are eligible for the Variable Incentive Compensation Program (VICP), Compensation is benefits pay used under the life insurance plan up to $200,000 or, if greater, annual base salary. If you are an: Hourly paid employee, severance pay is calculated based on your current basic rate of hourly Compensation multiplied by the current weekly number of hours you are regularly scheduled to work; or Exempt employee, severance pay is calculated based on your Compensation divided by 52. Standard Severance Payment If you are eligible for Plan benefits, you will receive a Standard Severance Payment equal to two Weeks of Pay based on your Compensation as of your Termination Date. The Standard Severance Payment will be made in a lump sum on or about your Termination Date. Release Payment You may be eligible for additional severance benefits (Release Payment) upon execution and delivery of a valid Separation Agreement and General Release (see the Separation Agreement and General Release section). Your Release Payment will be the greater of the following minus any Standard Severance Payment paid: Two Weeks of Pay for each completed Year of Service with the Company; or One Week of Pay for each full $5,000 increment of annual Compensation and a proportionate amount for an increment less than $5,000. The minimum Release Payment is six Weeks of Pay and the maximum is 50 Weeks of Pay. MassMutual Severance Plan Employees March 2011 Page 7 of 18

In addition, for AIP-eligible employees only, an amount may be included to reflect short-term incentive, provided you have completed at least three months of service and you are not on probation or rated NP (or a comparable rating). If eligible, the amount will be based on your target, prorated for months worked in the current year. Severance benefits for eligible employees who previously received severance benefits on or after January 1, 2002 will be calculated based on the most recent hire date. If you are eligible for a Release Payment, payment will be paid in a lump sum within 30 days after full acceptance of the Release. Notice Pay If you are eligible for pay in lieu of notice (Notice Pay) due to a position elimination as determined by the Company s policies, Notice Pay is included with your Release Payment and is only paid with receipt by the Company of a valid, executed Release. The amount of Notice Pay will be based on your Compensation, as defined above, as of your actual Termination Date. Notice Pay will not exceed the amount that would have been paid as base salary for a period of 30 calendar days immediately following the date of notice of eligibility for severance benefits, minus any days in the 30-day period for which Compensation was received. Notice Pay will be paid with the Release Payment. Note: All severance payments are subject to withholding for income, employment and other applicable taxes, as required by law. In addition, any amounts owed the Company will automatically be deducted from your severance payment. For example, you would owe the Company for any paid vacation time taken that you had not yet accrued. Outplacement Services If you are eligible for severance payments, you are eligible to receive outplacement services. Outplacement services must begin within three months of execution of the Release. The Company will determine the provider, service level and duration of services to be provided based on your position and the services offered by the outplacement provider. The current schedule is provided below. Employee Level Service (provider determined at MassMutual s discretion) Zone 1 and 2 Non-Exempt Group Career Counseling Program. Access to computers/internet, job search workshops, market research, job banks and reference libraries. Zone 3 and 4 Exempt Group Career Counseling Program. Office space/phone and internet access with administrative support services. Access to job search workshops, market research, job banks and reference libraries. AVP Individualized Career Counseling Program. Ongoing counseling support and access to executive level workshops and seminars. Executive level office space/phone and internet access with administrative support services. Access to job banks and research databases. MassMutual Severance Plan Employees March 2011 Page 8 of 18

Claiming Benefits How to File a Claim If you do not receive severance benefits for which you believe you are eligible, you may file a claim for benefits by contacting your Human Resources Business Partner (HRBP). If Claim Is Denied If your claim for benefits is denied, the HRBP will provide you with the following, in writing, within 90 days of your claim: A notice that you are entitled to a review of the decision denying benefits; The reason(s) for the denial; A description of the Plan provisions upon which the denial was based; A description of, and an explanation why, additional information is necessary to consider payment of severance benefits; and An explanation of the review process. If special circumstances should arise, the HRBP may take an additional 90 days to review the claim, provided you are given advance written notice of the extension. MassMutual Severance Plan Employees March 2011 Page 9 of 18

Appeals Procedures If the decision to deny or reduce the amount of a claim is not explained to your satisfaction or you have additional information you believe may change the decision, you must file a claim appeal by submitting your issues and comments in writing to the Plan Administrator within 60 days after you receive the original claim decision. The request for the appeal should include: A copy of the denial; An explanation for the denial; Any additional documentation that supports approval of the claim; and The specific reasons why you think the claim should be reconsidered and approved. You have the right to request, free of charge, access to copies of all documents, records and other information relevant to your claim. You may have additional rights under ERISA. However, applicable law and the Plan s provision require you to exhaust all administrative remedies before seeking any other legal recourse regarding your claim. Plan Administrator Final Decision The Plan Administrator will make the final decision on a claim review within 60 days. The 60-day period may be extended for another 60 days if the Plan Administrator finds that special circumstances require an extension. This extension will be provided in writing. The Plan Administrator will make a full and fair review of the claim and any written materials you submit. You or the Company may be required to submit additional evidence deemed necessary to make a thorough claim review. When you are notified of the final decision, the notice will be in writing and will provide the reason for the decision and the specific Plan provisions on which it is based. If you do not receive a decision on your appeal by the end of the first 60-day period plus any extension, you should consider the appeal denied. The decision of the Plan Administrator is final and binding under the terms and conditions of the Plan, contracts, policies or programs. Legal Action You have the right to bring a civil action under ERISA Section 502(a) if you are not satisfied with the outcome of the appeals procedure. In most instances, you may not initiate a legal action against the Plan until you have exhausted the appeal processes. MassMutual Severance Plan Employees March 2011 Page 10 of 18

Administrative Information Separation Agreement and General Release To be eligible to receive Plan benefits, you must execute and return to the Company a valid Separation Agreement and General Release (Release) acceptable to the Company no later than the return date specified in the Release. This Release will be provided to you and includes, among other things: A release of all claims against the Company, including employment-related claims; An agreement to confidentiality and non-disparagement provisions; and An agreement not to solicit Company business, clients or services of employees for one year. An informational copy of the Release is posted online on myhr. If you want to revoke a signed Release, you must submit a written request to revoke the Release in the seven-day calendar period (or other longer period required by law); this will be noted in the Release. MassMutual Severance Plan Employees March 2011 Page 11 of 18

Plan Information The information presented in this SPD is intended to comply with the disclosure requirements of the regulations issued by the U.S. Department of Labor under the Employee Retirement Income Security Act (ERISA) of 1974. Plan Name and Number Massachusetts Mutual Life Insurance Company Employee Severance Payment Plan, 520 Plan Administrator The Plan Administrator is the Plan Administrative Committee, which is appointed by MassMutual s Chief Executive Officer. The Plan Administrative Committee has the authority to control and manage the operations and administration of the Plan. You can reach the Plan Administrative Committee at: Massachusetts Mutual Life Insurance Company MassMutual Benefits 1295 State Street, F105 Springfield, MA 01111-0001 866-662-6448 Plan Sponsor Massachusetts Mutual Life Insurance Company 1295 State Street, F105 Springfield, MA 01111-0001 866-662-6448 Employer Identification Number (EIN) The EIN of Massachusetts Mutual Life Insurance Company is 04-1590850. Plan Year The Plan Year is January 1 through December 31. Agent for Service of Legal Process General Counsel of Massachusetts Mutual Life Insurance Company 1295 State Street Springfield, MA 01111-0001 If legal action is necessary to settle a claim, any action may also be served upon the Plan Administrator. Plan Type and Funding This Plan provides severance benefits on a self-funded basis from general assets of the Company and subsidiaries. MassMutual Severance Plan Employees March 2011 Page 12 of 18

Claims Administrator The claims administrator is Human Resources; see myhr for HR Business Partner contact information. The Plan Administrative Committee is the claims administrator for all appeals and has full discretion and fiduciary authority to determine appeals arising under the Plan. Type of Administration This Plan is administered by the Human Resources Department. Continuation of the Plan Although MassMutual does not now intend to terminate the benefits described in this SPD, nevertheless it reserves the right to modify, revoke, change, suspend or terminate the Plan, policies, benefits or services described here or in the underlying Plan document at any time or from time to time, with or without notice. MassMutual Severance Plan Employees March 2011 Page 13 of 18

ERISA Rights As a Plan participant, you are entitled to certain rights and protections under the Employee Retirement Income Security Act (ERISA) of 1974, as amended. ERISA provides that you are entitled to the rights described in this section. Receive Information about Plan and Benefits You have the right to: Examine, without charge, at the Plan Administrator s office or other specified locations, such as worksites, all documents governing the Plan. These include any insurance contracts and copies of the latest annual report (Form 5500 series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration (EBSA). Obtain, upon written request, copies of documents governing the operation of the Plan. These include any insurance contracts and copies of the latest annual report (Form 5500 series) and current Summary Plan Description. A reasonable charge may be required for the copies. Receive a summary of the Plan s annual financial report (summary annual report), which is required by law to be provided to each member. Prudent Actions by Plan Fiduciaries In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate the Plan, called Plan fiduciaries, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your Company or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA. Enforce Your Rights If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision (without charge) and to appeal any denial, all within certain time schedules. However, you may not begin any legal action, including proceedings before administrative agencies, until you have followed and exhausted the Plan s claim and appeal procedures. Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of a Plan document or the latest annual report and do not receive it within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the Plan Administrator s control. If you have a claim that is denied or ignored, in whole or in part, you may file suit in a state or federal court. In addition, if you disagree with the Plan s decision or lack thereof, you may file suit in federal court. If you believe that Plan fiduciaries have misused the Plan s money or if you believe that you have been discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. MassMutual Severance Plan Employees March 2011 Page 14 of 18

Assistance with Questions If you have any questions about the Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA or if you need assistance in getting documents from the Plan Administrator, you should contact the nearest office of the EBSA or the national office at: Division of Technical Assistance and Inquiries Employee Benefits Security Administration U.S. Department of Labor 200 Constitution Avenue NW Washington, DC 20210 866-444-3272 For more information about your rights and responsibilities under ERISA or for a list of EBSA offices, contact EBSA by visiting their Web site at www.dol.gov/ebsa. MassMutual Severance Plan Employees March 2011 Page 15 of 18

Dictionary Terms Anti-Nepotism Policy Family members of directors (MassMutual Board of Directors) and executive officers, including the President and CEO (or executive officer equivalent at MassMutual subsidiaries) may not be hired into the Company. Additional restrictions and guidelines apply with respect to hiring (and subsequent employment) of relatives of senior officers, supervisors and other employees. For example, relatives cannot be in reporting relationships with one another and must not create a real or potential conflict of interest. Refer to MassMutual s Anti-Nepotism Policy for more detailed information. Compensation Annual base salary or hourly wages payable by the Employer to an employee for services rendered to the Employer, not including bonuses, cash awards, incentive payments, overtime pay, prizes, reimbursements of business and other expenses, shift differential pay or other payments. Note: If you are eligible for the Variable Incentive Compensation Program (VICP), Compensation is benefits pay used under the life insurance plan up to $200,000 or, if greater, annual base salary. Disability Termination When a claim for long-term disability benefits under the MassMutual Long-Term Disability Plan is approved, or short-term disability coverage ends and the employee fails to return to work. Divestiture Termination Involuntary Termination of employment initiated by the Employer when the Employer sells, transfers or otherwise outsources a business function or unit to another business entity. This applies if the employee accepts a position with, is transferred with or accompanies the business unit, or if the employee refuses to accept a comparable position offered by the new company or entity. Employer Any of the following: Babson Capital Management LLC Cornerstone Real Estate Advisers LLC Invicta Advisors LLC Massachusetts Mutual Life Insurance Company MassMutual International LLC MML Investors Services, Inc. The MassMutual Trust Company, FSB Involuntary Termination Termination of employment initiated by the Employer for any reason or no reason at all. It includes, but is not limited to, the specific forms of Involuntary Termination as listed in this SPD. MassMutual Severance Plan Employees March 2011 Page 16 of 18

Member or Participant An eligible employee who participates in this Plan. Notification Period Generally, employees whose jobs are eliminated will be given written notification and, depending on the situation, may be given either: A 30-day notification period during which they will continue to work and can post for other positions within MassMutual; or 30 days pay in lieu of notice upon receipt of a signed Release, with termination effective on the date of notification. If an employee terminates (voluntarily or involuntarily) before the end of the working Notification Period, no Compensation will be due for any remaining portion of the Notification Period and severance benefits will be forfeited. Pay Period The period the Company pays wages to an employee, such as weekly, biweekly or monthly. Performance Termination Termination due to performance-related reasons. Plan Anniversary The first Plan Anniversary occurs on January 1 of the year the Plan was established. Subsequent Plan Anniversaries occur on January 1 of each year. Plan Year A period beginning on the Plan s effective date, or on any subsequent Plan Anniversary, and continuing through the last day preceding the next succeeding Plan Anniversary. For this Plan, the Plan Year is the 12-month period from January 1 to December 31. Separation Agreement and General Release or Release To be eligible to receive any Severance Benefits, an employee must execute and return to the Company a valid Release. Termination Date The date employment terminates. Voluntary Termination Termination of employment initiated by the employee. MassMutual Severance Plan Employees March 2011 Page 17 of 18

Week of Pay For a(n): Hourly-paid employee, the employee s current basic rate of hourly Compensation multiplied by the current number of hours the employee is regularly scheduled to work in a week; or Salaried employee, the employee s current annual base salary divided by 52. Year of Service A complete 12-month period beginning on the most recent hire date with an Employer and each anniversary of that date thereafter. Periods of service before the most recent hire date will not be taken into account in calculating Plan benefits if the employee previously received severance from the Company on or after December 31, 2001. However, Years of Service will be adjusted to comply with the Uniformed Services Employment and Reemployment Rights Act (USERRA), as amended, for any employee who incurs a break in service due to service with the Armed Forces. MassMutual Severance Plan Employees March 2011 Page 18 of 18