Document:

<PAGE>

                                                                   Exhibit 10.27

                               (EDDIE BAUER LOGO)

                           2006 ANNUAL INCENTIVE PLAN
<PAGE>
PLAN PURPOSE

The 2006 Incentive Plan is designed to encourage and reward all eligible
associates of Eddie Bauer Holdings, Inc. (and its subsidiaries) for their
contribution to the Company's success and for their individual performance. This
Plan replaces any previous incentive plan for the Plan Period.

PLAN PERIOD

The Plan Period is fiscal 2006 (January 1, 2006 through December 30, 2006)

PERFORMANCE MEASURES

The performance measures consist of two, weighted components:

For associates, other than in the Licensing or International divisions:

-     Overall company financial performance

      -     Net Sales (Sales less returns)

      -     Company EBITDA (earnings before interest taxes depreciation and
            amortization)

-     Your individual performance

For associates in the Licensing and International divisions:

-     Financial performance

      -     Divisional Royalties

      -     Company EBITDA (earnings before interest taxes depreciation and
            amortization)

-     Your individual performance

      FINANCIAL PERFORMANCE

      Net sales (or royalties) and EBITDA are combined into a Financial Matrix
      for one overall score. For example, in the matrix on the following page,
      if both net sales and EBITDA reach 100% of target, the financial
      performance portion of an associate's payout would be 100%.

      Net sales and EBITDA are weighted in the Financial Matrix as follows:

      -     Fifty percent of the Financial Matrix will be determined based upon
            Eddie Bauer Holdings, Inc.'s Net Sales targets for the plan period
            as defined by the CEO and the Board of Directors.

            -     For International and Licensing, 50% of the Financial Matrix
                  will be determined based on the Royalties received by each
                  such division.

      -     Fifty percent of the Financial Matrix will be determined based upon
            Eddie Bauer Holdings, Inc.'s EBITDA targets for the plan period, as
            defined by the CEO and the Board of Directors.

The minimum financial performance targets must be achieved in BOTH Net Sales (or
Divisional Royalties) and EBITDA for ANY amounts to be payable under this Plan.

                                                                          Page 2
<PAGE>
                                FINANCIAL MATRIX

<TABLE>
<CAPTION>
NET SALES/ROYALTIES
    (% OF PLAN)
    -----------
<S>                   <C>     <C>       <C>       <C>       <C>       <C>       <C>
     > 115%            0%     112.5%    125.0%    137.5%    150.0%    162.5%    175.0%
       115%            0%     100.0%    112.5%    125.0%    137.5%    150.0%    162.5%
       107%            0%      87.5%    100.0%    112.5%    125.0%    137.5%    150.0%
       100%            0%      75.0%     87.5%    100.0%    112.5%    125.0%    137.5%
        99%            0%      62.5%     75.0%     87.5%    100.0%    112.5%    125.0%
        98%            0%      50.0%     62.5%     75.0%     87.5%    100.0%    112.5%
       <98%            0%         0%        0%        0%        0%        0%        0%

                      <94%      94%       97%      100%      110%      120%     > 120%

                                             EBITDA (% OF PLAN)
</TABLE>

      INDIVIDUAL PERFORMANCE

      Individual performance is based upon the associate's performance rating
      from the 2006 performance evaluation process.

PERFORMANCE WEIGHTING

The Financial Matrix and individual performance measures are weighted
differently depending on level.

<TABLE>
<CAPTION>
                                                         FINANCIAL MATRIX
                                                            Net Sales          INDIVIDUAL
LEVEL                                                  (Royalties)/EBITDA      PERFORMANCE     TOTAL
-----                                                  ------------------      -----------     -----
<S>                                                    <C>                     <C>             <C>
President, CEO & Senior Vice Presidents                        100%                N/A          100%
Divisional Vice Presidents & Vice Presidents                    80%                20%          100%
Managers, Group Managers & Directors                            67%                33%          100%
Individual contributors, Nonexempt & Exempt staff               50%                50%          100%
</TABLE>

INCENTIVE TARGET

A participant's Incentive Target is based upon the incentive percentage of his
or her current position. (If you don't know your Incentive Target, please ask
your Manager.)

INCENTIVE PAYOUT POTENTIAL

-     The Financial Matrix can pay from 50% to 175% of the portion of an
      associate's Incentive Target attributable to the Financial Matrix based
      upon actual performance achieved.

                                                                          Page 3
<PAGE>
-     Individual performance can pay from 50% to 150% of the portion of an
      associate's Incentive Target attributable to individual performance based
      upon his or her performance rating from the 2006 performance evaluation
      process.

CALCULATION EXAMPLE

Assume an associate's salary at the end of the Plan Period is $40,000 with a 3%
Incentive Target. Their potential payout is as follows:

-     Salary x incentive target = payout potential
      $40,000 x 3% = $1,200

Further assume the associate is in the "Individual contributor, Nonexempt and
Exempt Staff" category; therefore, their incentive is weighted as follows:

-     50% financial performance + 50% individual performance = payout potential
      $600 financial performance + $600 individual performance = $1,200

Finally, assume that the financial performance reached 112.5% (110% EBITDA and
100% net sales achievement) and the associate's performance score warranted 100%
of the Individual Performance payout:

-     Financial performance is $600 x 112.5% = $675

-     Individual performance is $600 x 100% = $600

-     Total incentive is $675+ $600 = $1,275

ELIGIBILITY

Associates are eligible to participate in the 2006 incentive plan if they meet
the following criteria:

      ACTIVE ASSOCIATES:

      -     Associates must be hired or promoted to an eligible position on or
            before October 2, 2006

            -     If hired or promoted to an eligible position after January 1,
                  2006 and on or before October 2, 2006, they will be eligible
                  to receive a prorated payout based upon their actual time in
                  position.

            -     If hired or promoted to an eligible position on or before
                  January 1, 2006, the associate will be eligible to receive a
                  full payout for this incentive Plan Period.

      -     Associates who were in different incentive level positions during
            the Plan Period will be eligible for a total payment using the
            payout calculation that will give credit for the time in each
            position and at each salary level.

      -     Associates on a performance action plan at the end of the Plan
            Period will not be eligible to receive ANY portion of their
            incentive.

      SEPARATED ASSOCIATES:

      -     Retirement or Voluntary Separation. Associates who retire or
            voluntarily separate prior to the payout date will not receive an
            incentive plan payment.

                                                                          Page 4
<PAGE>
      -     Involuntary Termination. An associate who is Involuntarily
            Terminated (other than for Misconduct) after December 30, 2006 but
            prior to the payout date may be eligible to receive, at the sole
            discretion of the Company, the financial performance portion of the
            incentive payout, if earned. Such incentive payout, if any, will be
            payable at the time they are made to other eligible associates.
            Associates terminated for Misconduct are not eligible for payouts
            under the Plan.

      -     Death or Incapacity. Associates who are separated due to death or
            Incapacity after December 30, 2006 but prior to the payout date may
            be eligible to receive, at the sole discretion of the Company, the
            financial portion of the incentive payout, if earned. Such incentive
            payout, if any, will be payable at the time they are made to other
            eligible associates.

ELIGIBLE INCOME

-     Exempt Associates. For exempt associates, incentive payouts will be
      calculated using Base Salary as of the last day of the Plan Period
      (December 30, 2006), unless the associate was in different incentive level
      positions during the Plan Period. They will be eligible for a total
      payment using the payout calculation that will give credit for the time in
      each position and at each salary level.

-     Nonexempt Associates. For nonexempt associates, Incentive Payouts will be
      calculated using earnings during the Plan Period excluding any incentives
      or bonuses paid.

-     Leaves of Absence. The incentive payment will be pro-rated for any
      approved leave of absence lasting more than twelve weeks.

PAYOUT

The Incentive Payout is determined by the Compensation Committee of the Board of
Directors after the close of the Plan Period and completion of the 2006
performance evaluation process. The payout, if any, will occur as soon as
administratively feasible after the close of the Plan Period and completion of
the 2006 performance evaluation process.

AMENDMENT AND TERMINATION OF THE PLAN

The Compensation Committee reserves the right to amend, modify, suspend or
terminate this Plan in whole or in part at any time without advance notice to or
prior approval of the plan participants and without any obligation to make any
payments hereunder.

DEFINED TERMS

      "Base Salary" means an Associate's annual base salary.

      "CEO" means the Chief Executive Officer of the Company.

      Company" means Eddie Bauer Holdings, Inc. and its subsidiaries.

      "EBITDA" means earnings before interest taxes depreciation and
      amortization

                                                                          Page 5
<PAGE>
      "Incapacity" means an associate's inability to perform all of his or her
      duties by reason of illness, physical or mental disability, or other
      similar incapacity, which inability has continued or reasonably could be
      expected to continue for more than ninety (90) days. All determinations of
      Incapacity under the Plan shall be made in accordance with applicable
      federal and state law and shall be made by the Company.

      "Incentive Payout" means the amounts payable, if any, to a participant in
      accordance with this Plan.

      "Incentive Target" means the percent of eligible income subject to this
      Plan for a particular participant.

      "Involuntary Termination (Involuntarily Terminated)" means the termination
      of employment with the Company for reasons other than resignation,
      retirement or Misconduct.

      "Misconduct" means: (i) a violation of the work rules of the associate's
      employer or willful breach of standard business conduct by the associate
      or the associate's intentional or willful failure to perform the duties
      and responsibilities of the associate's position, (ii) the willful
      engaging by the associate in any act or omission that is injurious to the
      business, reputation, character or community standing of the Company or
      its affiliates, (iii) the engaging by the associate in dishonest,
      fraudulent or unethical conduct, including, but not limited to moral
      turpitude to the extent that, in the reasonable judgment of the CEO, the
      associate's reputation and credibility no longer conform to the standards
      expected of the Company's associates, (iv) the associate's admission,
      confession, plea bargain to or conviction in a court of law of any crime
      or offense involving misuse or misappropriation of money or other
      property, fraud or moral turpitude, or a felony, or (v) a violation of any
      statutory or common law duty to the Company, including, but not limited
      to, the duty of loyalty.

      "Net Sales" means sales less returns.

      "Plan Period" means January 1, 2006 through December 30, 2006.

      "Royalties" means funds collected from joint ventures and licensing
      agreements.

                                                                          Page 6<PAGE>

                                                                   EXHIBIT 10.28

                               THE SPIEGEL GROUP
                             LIFESTYLE RETAILERS(R)

                        SUMMARY PLAN DESCRIPTION FOR THE
                          SPIEGEL GROUP SEVERANCE PLAN

I.    INTRODUCTION

The Spiegel Group Severance Plan (the "Severance Plan") is intended to
constitute an "employee welfare benefit plan" within the meaning of Section 3(1)
of the Employee Retirement Income Security Act of 1974, as amended from time to
time, and the regulations issued thereunder ("ERISA") and shall be construed
accordingly. This document states the terms of the Severance Plan in full and
serves both as a plan document and summary plan description. There is no
separate plan document.

II.   SEVERANCE PLAN PROVISIONS

PURPOSE

Spiegel, Inc. (the "Company") has established the Severance Plan, effective as
of April 23, 2003 (the "Effective Date") for the benefit of Covered Employees
(defined below) whose employment with the Company or one of its subsidiaries (a
"Spiegel Group Company" and together, the "Spiegel Group") terminates in
accordance with the terms and conditions set forth herein.

COVERED EMPLOYEES

The Severance Plan covers all U.S.-based full and part-time regular employees
employed by a Spiegel Group Company as of the Effective Date (the "Covered
Employees"), except the following:

      -     employees covered by a collective bargaining agreement;

      -     temporary or seasonal workers, defined as those employees who are
            hired to work for a pre-determined period or duration, or on a
            specific project or task, such as, for example, employees hired for
            the holiday season;

      -     independent contractors and other non-employees, even if a court or
            administrative agency reclassifies such persons as employees; and

      -     employees on temporary layoff, unless such persons are notified that
            their layoff is permanent.

      -     employees of First Consumers National Bank and East Coast Collection
            Agency, Inc.

<PAGE>

ELIGIBILITY

A Covered Employee will be eligible to receive severance benefits under the
Severance Plan only if such Covered Employee is terminated on or after the
Effective Date as a result of an Involuntary Termination. An "Involuntary
Termination" is any termination of a Covered Employee that is NOT:

      -     a termination for cause, poor performance, or other misconduct;

      -     a voluntary resignation of employment for any reason;

      -     due to or resulting from the death, disability or retirement of a
            Covered Employee; or

      -     due to, resulting from or in connection with the sale or other
            disposition of the Covered Employee's business unit, where such
            Covered Employee is (a) offered a Comparable Position, or (b)
            accepts any position, whether or not it is a Comparable Position,
            with the Company, the Spiegel Group, a Spiegel Group Company or any
            respective purchaser or successor of all or any part thereof.

A "Comparable Position" is (a) a position located not farther than the greater
of (i) 35 miles from where the Covered Employee is living at the time of his or
her termination or (ii) the distance the employee commutes to work immediately
prior to the date of his or her termination, and (b) the base salary or base
compensation rate for which is at least 80% of such Covered Employee's
then-current base salary or base compensation rate.

A Covered Employee will not suffer an Involuntary Termination where such Covered
Employee is (a) offered a transfer to or other employment in a Comparable
Position, or (b) accepts any position, whether or not it is a Comparable
Position, within the Company, the Spiegel Group, or a Spiegel Group Company.

WAIVER AND RELEASE

In exchange for and as a condition to receiving any benefits pursuant to this
Severance Plan, a Covered Employee will be required to execute a written waiver
and release of all claims that he or she may have against the Company and the
Spiegel Group, in such form as the Company may reasonably require. Any Covered
Employee who does not execute a waiver and release of claims, or who executes it
and then revokes it, will not be eligible for any benefits under the Severance
Plan.

SEVERANCE PAY

Subject to any reduction or setoff to such amount in accordance with the terms
of the Severance Plan, a Covered Employee will be eligible to receive severance
pay based on his or her (a) years of continuous service with the Spiegel Group,
(b) base compensation rate and (c) position level as set forth in the chart
below. Covered Employees' severance pay will be pro-rated based on their average
hours worked over the preceding 6 months. Severance pay will be pro rated based
on full and partial years of service. If a Covered

<PAGE>

Employee has an adjusted service date, then that date shall be used to calculate
the severance pay.

<TABLE>
<CAPTION>
LEVEL
WEEKS               SEVERANCE CALCULATION     MINIMUM # WEEKS PAY     MAXIMUM #
--------------    --------------------------  -------------------     ---------
<S>               <C>                         <C>                     <C>
Non-Exempt        1 week per year of service            1                 26

Exempt            1 week per year of service            1                 26

Manager           1 week per year of service            2                 26

Director          1 week per year of service            3                 26

EVP/SVP/VP/DVP    2 weeks per year of service           4                 26
</TABLE>

Covered Employees with less than one year of service with the Spiegel Group will
be eligible to receive the minimum amount of severance pay.

METHOD OF PAYMENT

Severance pay will be paid either as a single lump-sum payment or in
installments in the Company's sole discretion. Any severance payment will be
paid as soon as reasonably practicable after the satisfaction of the terms and
conditions for payment thereof, including the Covered Employee's execution of a
waiver and release of claims, and the expiration of any notice or revocation
period contained therein.

REDUCTIONS AND SETOFFS

Unless the Plan Administrator (defined below) determines otherwise, any
severance payment for which a Covered Employee may become eligible pursuant to
the Severance Plan, shall be reduced by (i) the amount of any payment or
payments that the Company, the Spiegel Group or any Spiegel Group Company
provides or becomes required to provide to such Covered Employee pursuant to
applicable law and (ii) the amounts paid to the Covered Employee during any
minimum statutory notice period, or paid in lieu of any such notice period
(including, without limitation, the federal Worker Adjustment and Retraining
Notification Act, or any state or local equivalent), or pursuant to any
agreement, arrangement, program, plan, practice or policy, whether written or
unwritten, applicable to the Covered Employee.

ADMINISTRATION

PLAN YEAR - The initial plan year of the Severance Plan shall run from the
Effective Date and end on December 31, 2003. Subsequent plan years shall begin
on January 1 and end on December 31.

<PAGE>

PLAN ADMINISTRATOR - The Plan is administered by a Plan Administrative Committee
made up of persons appointed by the Company's Board of Directors. The Plan
Administrative Committee is the "Plan Administrator" and one of the named
fiduciaries under the Plan. The Plan Administrator shall have the power and
authority in its sole and absolute discretion to control and manage the
operation and administration of the Severance Plan and shall have all powers
necessary to accomplish these purposes including, but not limited to, the
following responsibilities and duties: filing, and distributing or otherwise
publishing such returns, reports and notices as are required by ERISA. The Plan
Administrator may delegate to one or more employees, responsibility for the
day-to-day administration of the Severance Plan. The Plan Administrator also has
the authority to delegate to a committee of one or more employees, the review of
initial claims and has the authority to delegate to a separate committee of one
or more employees, the review of appeals of initial claims that have been denied
in whole or in part, each such claim or appeal to be made and reviewed in
accordance with the claims procedures set forth below.

AUTHORITY OF PLAN ADMINISTRATOR - The Plan Administrator, or its designee, shall
have full and complete discretionary authority to construe and interpret the
provisions of the Severance Plan, to determine a Covered Employee's entitlement
to benefits under the Severance Plan, to make all determinations contemplated
under the Severance Plan, to investigate and make factual or legal
determinations necessary or advisable to administer or implement the Severance
Plan, and to adopt such rules and procedures as the Plan Administrator, or its
designee, shall deem necessary or advisable for the administration or
implementation of the Severance Plan. Subject to the claims procedures set forth
below, all determinations under the Severance Plan by the Plan Administrator, or
its designee, shall be final, binding and conclusive on all interested persons,
including the Company, the Spiegel Group, Covered Employees, and current or
former employees.

CLAIMS PROCEDURES

INITIAL CLAIM - If a Covered Employee (the "Claimant") disputes the amount of,
or his or her entitlement to, a severance payment, he or she may file a claim in
writing with the Company's Senior Vice President of Human Resources (the "Claims
Reviewer") within 60 days of the termination of his or her employment with the
Company, setting forth the reason for the claim. If a claim is denied in whole
or in part, the Claims Reviewer shall send a written notice of the denial to the
Claimant within 90 days of receipt of the claim, unless special circumstances
require an extension of time for processing. Such extension shall not exceed an
additional 90 days, and notice thereof must be given within the first 90-day
period. The notice of denial shall include (i) the specific reason(s) for the
denial, (ii) reference to the provisions of the Severance Plan on which the
denial is based, (iii) if appropriate, a description of any additional
information needed to perfect the claim and the reasons why such additional
information is necessary, and (iv) an explanation of the right of the Claimant
to request a review of the denial, how to make this request, and the applicable
claims review procedures.

<PAGE>

APPEAL - A Claimant whose claim is denied in whole or in part by the Claims
Reviewer (or whose initial claim is not ruled upon in writing within the
foregoing limitations of time) may file an appeal with the Plan Adminstrative
Committee in writing within 60 days of the denial of the initial claim. The
Claimant may submit additional written comments, documents, records and other
information related to the appeal. Upon request, the Claimant will be provided
(free of charge) access to and copies of all documents, records and other
information relevant to the claim and appeal. On appeal, the Plan Administrative
Committee shall consider all comments, documents, records and other information
submitted by the Claimant, whether or not such information was submitted for or
considered in the initial claim. An appeal decision shall be made by the Plan
Administrative Committee within 60 days of receipt of a timely request for
review unless there are special circumstances that require an extension of time
for processing. Such extension shall not exceed an additional 60 days, and
notice thereof must be given within the first 60-day period. If the appeal is
denied, written notice of the decision will be sent to the Claimant, which will
include (i) the specific reason(s) for the denial, (ii) reference to the
provisions of the Severance Plan on which the denial is based, and (iii) a
statement of the Claimant's right to bring an action under ERISA. The decision
of the Plan Administrative Committee shall be final, binding and conclusive on
all interested persons, including the Company, the Spiegel Group, and the
Claimant.

<PAGE>

MISCELLANEOUS

UNFUNDED PLAN - The Severance Plan shall be unfunded. Benefits payable under the
Severance Plan shall be paid from the general assets of the Company. The Company
shall have no obligation to establish any fund or to set aside any assets to
provide benefits under the Severance Plan.

NOTICE - Any notice to be given to the Company under the terms of the Severance
Plan shall be in writing and addressed to the Plan Administrative Committee at
Spiegel Inc., 3500 Lacey Road, Downers Grove, Illinois 60515, and any notice to
be given to a Covered Employee shall be in writing and shall be addressed to him
or her at his or her address as it appears on the payroll records of the
Company, or at such other address as either party may hereinafter designate in
writing to the other.

RIGHT TO CONTINUED EMPLOYMENT - Neither the establishment of the Severance Plan,
nor any action taken hereunder, shall be construed as giving a Covered Employee
any right to be retained in the employ of the Company, the Spiegel Group, or any
Spiegel Group Company or shall affect the terms and conditions of any Covered
Employee's employment with the Company, the Spiegel Group, or any Spiegel Group
Company.

NON-ASSIGNABILITY - Each Covered Employee's right under the Severance Plan shall
be nontransferable except by will or by the laws of descent and distribution and
except in so far as applicable law may otherwise require. Subject to the
foregoing, no right, benefit or interest of any Covered Employee hereunder shall
be subject to anticipation, alienation, sale, assignment, encumbrance, charge,
pledge, levy or similar process, or assignment by operation of law, and any
attempt, voluntary or involuntary, to effect any such action shall, to the full
extent permitted by law, be null, void and of no effect and shall extinguish, in
the Plan Administrator's discretion, any obligation to provide any payment or
other benefit under the Severance Plan.

TAX WITHHOLDING - The amounts paid under the Severance Plan shall be subject to
all applicable federal, state and local wage withholding.

ENTIRE AGREEMENT - As of the Effective Date, the Severance Plan supercedes any
prior plan, program, agreement, arrangement, practice or policy, whether oral or
written, regarding the subject matter hereof.

AMENDMENT AND TERMINATION - The Company may amend, modify or terminate the
Severance Plan, in whole or in part, at any time and from time-to-time, with or
without notice to any person.

GOVERNING LAW - Except to the extent preempted by federal law, this Severance
Plan shall be construed and interpreted in accordance with the laws of the State
of Illinois.

<PAGE>

III.  ADMINISTRATION AND STATEMENT OF ERISA RIGHTS

ADMINISTRATIVE FACTS

The following are administrative facts regarding the Severance Plan and are
provided to you in accordance with ERISA.

NAME OF PLAN:                        Spiegel Group Severance Plan

NAME AND ADDRESS OF PLAN SPONSOR:    Spiegel, Inc.
                                     3500 Lacey Road
                                     Downers Grove, Illinois 60515

EMPLOYER IDENTIFICATION              36-2593917
NUMBER:

PLAN NUMBER:                         [PLAN NUMBER]

TYPE OF PLAN:                        Welfare Benefit Plan

TYPE OF PLAN                         Employer Self Administration
ADMINISTRATION

PLAN ADMINISTRATOR AND               Spiegel, Inc.
BUSINESS ADDRESS:                    3500 Lacey Road
                                     Downers Grove, Illinois 60515
                                     Attn: Plan Administrative Committee

CLAIMS REVIEWER AND                  Spiegel, Inc.
BUSINESS ADDRESS:                    3500 Lacey Road
                                     Downers Grove, Illinois 60515
                                     Attn: Senior Vice President of Human
                                           Resources

AGENT FOR SERVICE OF                 Plan Administrator
LEGAL PROCESS:

YOUR RIGHTS UNDER ERISA

As a plan participant in the Severance Plan, you are entitled to certain rights
and protections under ERISA. ERISA provides that all plan participants will be
entitled to:

RECEIVE INFORMATION ABOUT THE SEVERANCE PLAN AND BENEFIT - Examine, without
charge, at the Plan Administrator's office and at other specified locations,
such as worksites and union halls, all documents governing the Severance Plan,
including insurance contracts and collective bargaining agreements, if any, and
a copy of the latest annual report (Form 5500 Series) filed by the Severance
Plan with the U.S. Department of Labor and available at the Public Disclosure
Room of the Employee Benefits Security Administration.

<PAGE>

Obtain, upon written request to the Plan Administrator, copies of documents
governing the operation of the Severance Plan, including a copy of the latest
annual report (Form 5500 Series) filed, if applicable, and an updated summary
Severance Plan description. The Plan Administrator may make a reasonable charge
for the copies.

PLAN FIDUCIARIES - In addition to creating rights for plan participants, ERISA
imposes duties upon the people who are responsible for the operation of the
employee benefit plan. The people who operate the Severance Plan, called
"fiduciaries" of the plan, have a duty to do so prudently and in the interest of
you and other Covered Employees and beneficiaries. No one, including your
employer, your union, or any other person, may discriminate against you in any
way to prevent you from obtaining a welfare benefit or exercising your rights
under ERISA.

ENFORCE YOUR RIGHTS - If your claim for a welfare benefit is denied or ignored,
in whole or in part, you have a right to know why this was done, to obtain
copies of documents relating to the decision without charge, and to appeal any
denial, all within certain time schedules.

Under ERISA, there are steps a Covered Employee can take to enforce the above
rights. For instance, if you request a copy of the Severance Plan or the latest
annual report from the Severance Plan and do not receive them within 30 days,
you may file suit in a Federal court. In such a case, the court may require the
Plan Administrator to provide the materials and pay you up to $110 a day until
you receive the materials, unless the materials were not sent because of reasons
beyond the control of the Plan Administrator. If you have a claim for benefits
which is denied or ignored, in whole or in part, you may file suit in a state or
Federal court. In addition, if you disagree with the Plan Administrator's
decision or lack thereof concerning the qualified status of a domestic relations
order or a medical child support order, you may file suit in Federal court. If
it should happen that the plan fiduciaries misuse the Severance Plan's money, or
if you are discriminated against for asserting your rights, you may seek
assistance from the U.S. Department of Labor, or you may file suit in a Federal
court. The court will decide who should pay court costs and legal fees. If you
are successful, the court may order the person you have sued to pay these costs
and fees. If you lose, the court may order you to pay these costs and fees, for
example, if it finds your claim is frivolous.

ASSISTANCE WITH YOUR QUESTIONS - If you have any questions about the Severance
Plan, you should contact the Plan Administrator. If you have any questions about
this statement or about your rights under ERISA, or if you need assistance in
obtaining documents from the Plan Administrator, you should contact the nearest
office of the Employee Benefits Security Administration, U.S. Department of
Labor, listed in your telephone directory or the Division of Technical
Assistance and Inquiries, Employee Benefits Security Administration, U.S.
Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You
may also obtain certain publications about your rights and responsibilities
under ERISA by calling the publications hotline of the Employee Benefits
Security Administration.

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