THE DENIAL, UNLESS A HEARING IS HELD OR OTHER SPECIAL
CIRCUMSTANCES REQUIRE ADDITIONAL TIME, IN WHICH CASE THE COMMITTEE'S DECISION
MUST BE RENDERED WITHIN 120 DAYS AFTER SUCH DATE.
SUCH DECISION MUST BE WRITTEN
IN A MANNER CALCULATED TO BE UNDERSTOOD BY THE CLAIMANT, AND IT MUST
CONTAIN: (A) SPECIFIC REASONS FOR THE DECISION; (B) SPECIFIC REFERENCE(S) TO THE
PERTINENT PLAN PROVISIONS UPON WHICH THE DECISION WAS BASED; AND (C) SUCH OTHER
MATTERS AS THE COMMITTEE DEEMS RELEVANT.
12.05.
CAUSE OF ACTION.
NO LEGAL OR EQUITABLE ACTION FOR BENEFITS UNDER
THE PLAN MAY BE BROUGHT AFTER THE EARLIEST OF 90 DAYS AFTER THE CLAIM DENIAL OR
ONE YEAR AFTER THE DATE THE CAUSE OF ACTION ACCRUED.
FOR THIS PURPOSE, A CAUSE
OF ACTION IS CONSIDERED TO HAVE ACCRUED WHEN THE PERSON BRINGING THE LEGAL
ACTION KNEW, OR IN THE EXERCISE OF REASONABLE DILIGENCE SHOULD HAVE KNOWN, THAT
A PLAN PARTY HAS CLEARLY REPUDIATED THE CLAIM OR LEGAL POSITION WHICH IS THE
SUBJECT OF THE ACTION, REGARDLESS OF WHETHER SUCH PERSON HAS FILED A CLAIM FOR
BENEFITS.
THE COMMITTEE'S DECISIONS ARE FINAL.
AS DESCRIBED ABOVE, AN
INDIVIDUAL IS REQUIRED TO FOLLOW THE PROCEDURES
15
DESCRIBED IN THIS ARTICLE 12 AND A LAWSUIT GENERALLY CANNOT BE FILED UNLESS THE
CLAIMS AND APPEALS PROCESS IS COMPLETE.
THE DEADLINES FOR FILING A LAWSUIT
APPLY REGARDLESS OF WHETHER THE CLAIMS PROCEDURES ARE FOLLOWED, AND THE DEADLINE
GENERALLY WILL EXPIRE SOONER IF THE CLAIMS AND APPEALS PROCESS HAS NOT BEEN
COMPLETED.
FOR EXAMPLE, THE 90-DAY PERIOD FOR FILING A LAWSUIT INVOLVING A PLAN
CHANGE OR AMENDMENT STARTS TO RUN AS OF THE DATE THE CHANGE OR AMENDMENT IS
FIRST COMMUNICATED TO PLAN PARTICIPANTS EVEN IF A CLAIM IS NOT FILED.
ARTICLE 13
MISCELLANEOUS
13.01.
STATUS OF PLAN.
THE PLAN IS INTENDED TO BE (A) A PLAN THAT IS NOT
QUALIFIED WITHIN THE MEANING OF SECTION 401(A) OF THE CODE AND (B) A PLAN THAT
"IS UNFUNDED AND IS MAINTAINED BY AN EMPLOYER PRIMARILY FOR THE PURPOSE OF
PROVIDING DEFERRED COMPENSATION FOR A SELECT GROUP OF MANAGEMENT OR HIGHLY
COMPENSATED EMPLOYEES" WITHIN THE MEANING OF SECTIONS 201(2), 301(A)(3) AND
401(A)(1) OF ERISA.
THE PLAN SHALL BE ADMINISTERED AND INTERPRETED TO THE
EXTENT POSSIBLE IN A MANNER CONSISTENT WITH THAT INTENT.
ALL BOOK RESERVE
ACCOUNTS AND ALL CREDITS AND OTHER ADJUSTMENTS TO SUCH BOOK RESERVE ACCOUNTS
SHALL BE BOOKKEEPING ENTRIES ONLY AND SHALL BE UTILIZED SOLELY AS A DEVICE FOR
THE MEASUREMENT AND DETERMINATION OF AMOUNTS TO BE PAID UNDER THE PLAN.
NO BOOK
RESERVE ACCOUNTS, CREDITS OR OTHER ADJUSTMENTS UNDER THE PLAN SHALL BE
INTERPRETED AS AN INDICATION THAT ANY BENEFITS UNDER THE PLAN ARE IN ANY WAY
FUNDED.
13.02.
SECTION 409A.
IT IS INTENDED THAT THE PLAN (INCLUDING ALL
AMENDMENTS THERETO) COMPLY WITH PROVISIONS OF SECTION 409A, SO AS TO PREVENT THE
INCLUSION IN GROSS INCOME OF ANY BENEFITS ACCRUED HEREUNDER IN A TAXABLE YEAR
PRIOR TO THE TAXABLE YEAR OR YEARS IN WHICH SUCH AMOUNT WOULD OTHERWISE BE
ACTUALLY DISTRIBUTED OR MADE AVAILABLE TO