Ball Corporation - 2012 NPS Page 50

Base pay is the NEO's base salary during the calendar year excluding incentive compensation, severance pay or

vacation payouts.

Upon termination or retirement, the vested pension benefit accrued beginning January 1, 2007, may be paid to the

participant in either a lump sum or annuity. If the benefit is paid prior to age 65, the benefit will be reduced 5%
compounded annually for each year the payment is made before such age.

Terms for SERP Accrued Benefits

Since the SERP mirrors the qualified pension plan, the formulas for deriving the SERP accrued benefits are the

same as those described above for the pension plans; however, the amount of retirement benefit the participants receive
is equal to the difference between the benefit calculated without IRS limits and the benefits calculated using the IRS
limits. Effective January 1, 2007, the SERP was amended by the Committee to provide participants with benefits
accrued as of December 31, 2006, a one-time option to elect the form of payment under which the participant will
receive benefits in the future. The payment options available consist of various annuities and a lump sum. For all SERP
benefits accrued beginning January 1, 2007, participants will receive benefits only in the form of a lump sum. In
accordance with Code Section 409A, payments from the SERP will commence six months after termination of
employment. The SERP was also amended to provide that when determining lump sum payments, the SERP would
use the same assumptions that exist in the salaried retirement plans except that the interest rate used shall be equal to
four-fifths of the interest rate used to determine lump sum benefits under those salaried retirement plans in recognition
that payments from the SERP cannot be rolled into a tax-deferred account such as an IRA.

Present Value Assumptions

The Present Value of Accumulated Benefit reported in the table below is based on the following assumptions,

which are consistent with those used for the Corporation's Consolidated Financial Statements for fiscal year ending
December 31, 2011:

Discount Rate

4.75%

Mortality

RP-2000 Mortality Table--projected 15 years

Preretirement Decrements

None

Form of Pension Payment

Life Only Annuity--50%
Lump Sum--50%