EX-10.2: DESCRIPTION OF PMD RETIREE MEDICAL PROGRAM

EXHIBIT 10.2

Description of PMD Retiree Medical Program

     Participating Managing Directors (“PMDs”) of The Goldman Sachs Group, Inc. (the “Company”) who retire with eight or more years of service as a PMD are eligible to receive Retiree Medical Program coverage for themselves and eligible dependents through the Company at a 75% subsidy (with certain exceptions, such as if the PMD engages in conduct constituting “cause” or does not meet his or her obligations under an agreement with the Company).