APPLICABLE PROVISIONS OF ERISA, AND IT SHALL BE INTERPRETED AND
ADMINISTERED IN ACCORDANCE WITH SUCH INTENT. EXCEPT AS PROVIDED IN THE PRECEDING
SENTENCE OR AS OTHERWISE EXPRESSLY PROVIDED HEREIN, THE PLAN SHALL BE CONSTRUED,
ENFORCED, AND ADMINISTERED, AND THE VALIDITY THEREOF DETERMINED, IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF INDIANA, WITHOUT REGARD TO CONFLICT OF
LAW PRINCIPLES, AND THE FOLLOWING PROVISIONS OF THIS SECTION.
(B)
WORDS USED HEREIN IN THE MASCULINE SHALL BE CONSTRUED TO INCLUDE
THE FEMININE, WHERE APPROPRIATE, AND VICE VERSA, AND WORDS USED HEREIN IN THE
SINGULAR SHALL BE CONSTRUED TO INCLUDE THE PLURAL, AND VICE VERSA, WHERE
APPROPRIATE.
(C)
HEADINGS AND SUBHEADINGS ARE INSERTED FOR CONVENIENCE OF REFERENCE
ONLY AND SHALL NOT AFFECT THE INTERPRETATION OF ANY PROVISION HEREOF.
(D)
IF ANY PROVISION OF THE PLAN SHALL BE HELD TO VIOLATE THE CODE OR
ERISA OR BE ILLEGAL OR INVALID FOR ANY OTHER REASON, THAT PROVISION SHALL BE
DEEMED NULL AND VOID, BUT THE INVALIDATION OF THAT PROVISION SHALL NOT OTHERWISE
AFFECT THE PLAN.
Reference to any provision of the Code, ERISA, or other law shall be deemed to
include a reference to the successor of such provision.
ARTICLE III
VESTING OF EXCESS BENEFIT AND FORFEITURES
SECTION 3.01
VESTING.
A PARTICIPANT'S INTEREST IN HIS EXCESS BENEFIT
SHALL BECOME 100% VESTED UPON THE EARLIEST TO OCCUR OF (I) THE PARTICIPANT'S
COMPLETION OF THREE YEARS OF SERVICE OR, (II) WHILE THE PARTICIPANT IS AN
EMPLOYEE, HIS (A) DEATH OR (B) DISABILITY WITHIN THE MEANING OF THE PENSION
PLAN.
SECTION 3.02
FORFEITURES.
A PARTICIPANT SHALL FORFEIT HIS RIGHTS TO ANY
NON-VESTED EXCESS BENEFIT UNDER THE PLAN UPON HIS TERMINATION OF EMPLOYMENT.
ARTICLE IV
DISTRIBUTIONS
SECTION 4.01
TIMING OF DISTRIBUTIONS.
A PARTICIPANT'S VESTED EXCESS
BENEFIT SHALL BE PAID, OR COMMENCE TO BE PAID, ON THE PARTICIPANT'S ANNUITY
STARTING DATE IN THE FORM DETERMINED PURSUANT TO THIS ARTICLE.
SECTION 4.02
DISTRIBUTIONS UPON TERMINATION.
(A)
IF A PARTICIPANT TERMINATES EMPLOYMENT FOR A REASON OTHER THAN HIS
DEATH, HIS VESTED EXCESS BENEFIT SHALL BE DISTRIBUTED PURSUANT TO THIS SECTION;
PROVIDED, HOWEVER, IF THE PARTICIPANT DIES BEFORE HIS ANNUITY STARTING DATE, NO
BENEFITS SHALL BE PAID PURSUANT TO THIS SECTION, AND THE ONLY BENEFITS WITH
RESPECT TO THE PARTICIPANT SHALL BE PAID PURSUANT TO SECTION 4.03.
6
(B)
NOTWITHSTANDING THE FOLLOWING PROVISIONS OF THIS SECTION, IF THE
PRESENT ACTUARIAL VALUE OF THE BENEFIT PAYABLE WITH TO A PARTICIPANT (AND HIS
JOINT ANNUITANT, IF APPLICABLE) PURSUANT TO THIS SECTION IS LESS THAN $10,000,
SUCH PRESENT ACTUARIAL VALUE SHALL BE PAID TO THE PARTICIPANT IN A SINGLE LUMP
SUM PAYMENT WITHIN 60 DAYS FOLLOWING THE PARTICIPANT'S ANNUITY STARTING DATE.
(C)
SUBJECTION TO SUBSECTION (B), UNLESS A PARTICIPANT ELECTS AN
OPTIONAL FORM OF DISTRIBUTION PURSUANT TO SUBSECTION (D), HIS VESTED EXCESS
BENEFIT SHALL BE DISTRIBUTED (I) TO HIM AS A SINGLE LIFE ANNUITY, IF HE IS NOT
MARRIED ON HIS ANNUITY STARTING DATE, AND (II) TO HIM AND HIS SPOUSE AS A
QUALIFIED JOINT AND SURVIVOR ANNUITY, IF HE IS MARRIED ON HIS