Administrative Powers and Responsibilities Sample Clauses

Administrative Powers and Responsibilities. The Plan shall be administered by the Committee. The Committee shall have full power and authority, subject to the provisions of the Plan, to promulgate such rules and regulations as it deems necessary for the proper administration of the Plan, to interpret the provisions and supervise the administration of the Plan, and to take all action in connection therewith or in relation thereto as it deems necessary or advisable. Any decision reduced to writing and signed by all of the members of the Committee shall be fully effective as if it had been made at a meeting duly held. The Committee’s determinations under the Plan, unless otherwise determined by the Board, shall be final and binding on all persons. The Company shall pay all expenses incurred in the administration of the Plan. No member of the Committee shall be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan, and all members of the Committee shall be fully indemnified by the Company with respect to any such action, determination or interpretation. The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan. Subject to the requirements of applicable law, the Committee may designate persons other than members of the Committee to carry out its responsibilities and may prescribe such conditions and limitations as it may deem appropriate. All decisions, interpretations and other actions of the Committee shall be final and binding on all Participants and all persons deriving their rights from a Participant. No member of the Committee shall be liable for any action that he has taken or has failed to take in good faith with respect to the Plan. Notwithstanding anything to the contrary in the Plan, the Board may, in its sole discretion, at any time and from time to time, resolve to administer the Plan. In such event, the Board shall have all of the authority and responsibility granted to the Committee herein.

Administrative Powers and Responsibilities. The Plan Administrator will have all necessary powers to execute the Plan provisions including, but not limited to:

Administrative Powers and Responsibilities. The Plan Administrator will have all necessary powers to execute the Plan provisions including, but not limited to: (a) To establish policies, rules, and regulations to execute the Plan provisions. These policies, rules, and regulations, which may be changed from time to time, must be uniformly and nondiscriminatorily applied; (b) To determine at its discretion the Employees eligible to participate in the Plan; the Employees eligible to receive benefits under the Plan; and the meaning of Plan provisions; (c) To collect and pay over Contributions to the Plan; to instruct the Trustee regarding the allocation of Contributions to Participants' Accounts; and to instruct the Trustee to make distributions to Participants or Beneficiaries; (d) To comply with all reporting, disclosure, and bonding requirements of ERISA and to furnish Participants with all information and reports required by the Plan or ERISA and to comply with all applicable registration, qualification, disclosure and other requirements of applicable federal law and state securities laws and regulations; (e) To maintain all necessary accounts and other records and to review all accounts prepared by the Trustee; (f) to direct the Trustee to pay benefits to Participants and Beneficiaries; (g) to approve loan requests from Participants and (to the extent applicable) other eligible borrowers; (h) to maintain all necessary accounts and other records and to review all accounts prepared by the Broker and by the Recordkeeper to which any such duties have been delegated; (i) to review and render decisions, in its absolute discretion, on claims for benefits; (j) to prepare and complete all administrative and governmental forms necessary or appropriate for the operation of the Plan (including the application to the Internal Revenue Service for a determination as to the Plan's tax-qualified status, if appropriate); and (k) to vote and respond to tender offers with respect to any assets of the Trust Fund, other than any assets over which the Participant exercises Full Discretion.