ADMINISTRATIVE COMMITTEE.
THE SECRETARY SHALL KEEP MINUTES OF THE MEETINGS OF
THE ADMINISTRATIVE COMMITTEE AND SHALL HAVE CUSTODY OF ITS RECORDS.
THE
ADMINISTRATIVE COMMITTEE MAY CREATE SUCH SUBCOMMITTEES TO PERFORM SUCH DUTIES AS
IT MAY DETERMINE FROM TIME TO TIME, BUT ALL ACTS OF ANY SUBCOMMITTEE SHALL BE
SUBJECT TO THE APPROVAL OF THE ADMINISTRATIVE COMMITTEE.
(D)
MEETINGS AND ACTS.
THE ADMINISTRATIVE
COMMITTEE SHALL MEET AT SUCH PLACES, AT SUCH TIMES, AND UPON SUCH NOTICE, AS ITS
MEMBERS MAY DETERMINE FROM TIME TO TIME.
A MAJORITY OF THE CURRENT MEMBERSHIP
OF THE ADMINISTRATIVE COMMITTEE SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF
BUSINESS.
EACH MEMBER OF THE ADMINISTRATIVE COMMITTEE SHALL HAVE ONE VOTE ON
ANY QUESTION, BUT NO ACTION SHALL BE TAKEN AT ANY MEETING WITHOUT THE
AFFIRMATIVE VOTE OF A MAJORITY OF THE WHOLE ADMINISTRATIVE COMMITTEE. THE
ADMINISTRATIVE COMMITTEE MAY ALSO ACT WITHOUT A FORMAL MEETING BY THE WRITTEN
AUTHORIZATION OF ALL OF THE MEMBERS.
THE ADMINISTRATIVE COMMITTEE SHALL KEEP
ACCURATE RECORDS OF ALL OF ITS ACTS AND PROCEEDINGS.
(E)
COMPENSATION AND REIMBURSEMENT.
SO LONG AS
AN ADMINISTRATIVE COMMITTEE MEMBER IS A PERSON RECEIVING FULL-TIME PAY FROM A
PARTICIPATING EMPLOYER OR RELATED EMPLOYER, THAT PERSON SHALL RECEIVE NO
ADDITIONAL COMPENSATION FOR THE PERSON'S SERVICES AS AN ADMINISTRATIVE COMMITTEE
MEMBER; HOWEVER, THE PERSON SHALL BE ENTITLED TO REIMBURSEMENT FOR THE PERSON'S
EXPENSES ACTUALLY AND PROPERLY INCURRED IN THE PERFORMANCE OF THE PERSON'S
DUTIES AS AN ADMINISTRATIVE COMMITTEE MEMBER.
(F)
INDEMNIFICATION.
THE PARTICIPATING
EMPLOYERS SHALL INDEMNIFY, SAVE AND HOLD HARMLESS, JOINTLY AND SEVERALLY, THE
MEMBERS OF THE ADMINISTRATIVE COMMITTEE FROM ANY AND ALL LOSS, DAMAGE AND
LIABILITY WHICH SUCH MEMBERS MAY INCUR OR SUSTAIN, ARISING OUT OF THEIR
PERFORMANCE OF THEIR DUTIES UNDER THE PLAN, EXCEPT TO THE EXTENT THAT SUCH LOSS,
DAMAGE AND LIABILITY RESULTS FROM THE WILLFUL MISCONDUCT, GROSS NEGLIGENCE OR
LACK OF GOOD FAITH OF SUCH MEMBERS OR MEMBER.
35
SECTION 5.3.
ADMINISTRATIVE DUTIES AND
POWERS.
IN ADDITION TO THE DUTIES AND POWERS ELSEWHERE IN THIS PLAN IMPOSED AND
CONFERRED UPON THE ADMINISTRATOR, THE ADMINISTRATOR HAS THE DUTY AND POWER:
(A)
TO INTERPRET AND CONSTRUE THE PROVISIONS OF
THE PLAN;
(B)
TO DETERMINE THE ELIGIBILITY OF EMPLOYEES TO
PARTICIPATE IN THE PLAN AND TO GIVE EMPLOYEES TIMELY NOTICE THEREOF;
(C)
TO MAINTAIN RECORDS WITH RESPECT TO EACH
PARTICIPANT, UPON THE BASIS OF ANY INFORMATION FURNISHED BY EACH PARTICIPATING
OR RELATED EMPLOYER, BY THE PARTICIPANT OR BY THE FUNDING MEDIUM, SUFFICIENT TO
DETERMINE THE BENEFITS DUE, OR WHICH MAY BECOME DUE, TO THE PARTICIPANT;
(D)
TO PREPARE AND FILE WITH THE APPROPRIATE
AGENCIES OF THE UNITED STATES GOVERNMENT SUCH REPORTS AS ARE REQUIRED BY LAW
FROM TIME TO TIME;
(E)
TO PREPARE AND FURNISH TO EACH PARTICIPANT
SUCH REPORTS AND INDIVIDUAL STATEMENTS OR OTHER DISCLOSURES AS ARE REQUIRED BY
LAW FROM TIME TO TIME;
(F)
TO MAINTAIN RECORDS CONTAINING THE
NECESSARY BASIC INFORMATION FROM WHICH THE FOREGOING INSTRUMENTS AND REPORTS MAY
BE PREPARED IN SUFFICIENT DETAIL SO THAT THEIR ACCURACY MAY BE VERIFIED;
(G)
TO MAKE AVAILABLE IN