The primary purpose of the Plan is to attract and retain qualified personnel by providing a convenient way to save on a pre-tax and long-term basis.

Except as may otherwise be expressly provided herein, the rights and benefits of any Participant who retires or whose employment with the State is terminated prior to the effective date of this restatement shall be determined solely in accordance with the provisions of the Plan as in effect on the date of such retirement or termination, and without regard to this restatement.

The Plan is intended to satisfy the requirements for an "eligible deferred compensation plan" under Section 457 of the Internal Revenue Code of 1986, as amended from time to time, and all other applicable provisions of law and the regulations issued thereunder.