Powers of Administration Committee Sample Clauses

Powers of Administration Committee. Subject to Article XIV, the Committee shall have the following powers and duties: (a) To direct the administration of the Plan in accordance with the provisions herein set forth; (b) To adopt rules of procedure and regulations necessary for the administration of the Plan provided the rules are not inconsistent with the terms of the Plan; (c) To determine all questions with regard to rights of Employees, Participants, and Beneficiaries under the Plan, including but not limited to rights of eligibility of an Employee to participate in the Plan, the value of a Participants Accrued Benefit, and the vested Accrued Benefit of each Participant; (d) To enforce the terms of the Plan and the rules and regulations it adopts; (e) To direct the Trustee as respects the crediting and distribution of the Trust and all other matters within its discretion as provided in the Trust Agreement; (f) To review and render decisions respecting a claim for, or denial of a claim for, a benefit under the Plan; (g) To furnish the Employer with information which the Employer may require for tax or other purposes; (h) To engage the service of counsel (who may, if appropriate, be counsel for the Employer) and agents whom it may deem advisable to assist it with the performance of its duties; (i) To prescribe procedures to be followed by distributees in obtaining benefits; (j) To receive from the Employer and from Employees such information as shall be necessary for the proper administration of the Plan; (k) To receive and review reports of the financial condition and of the receipts and disbursements of the Trust Fund from the Trustee; (l) To maintain, or cause to be maintained, separate Accounts in the name of each Participant to reflect the Participant's Accrued Benefit under the Plan; (m) To select a secretary, who need not be a member of the Administration Committee; and (n) To interpret and construe the Plan. The Administration Committee shall have no power to add to, subtract from, or modify any of the terms of the Plan, or to change or add to any benefits provided by the Plan, or to waive or fail to apply any requirements of eligibility for a benefit under the Plan. Nonetheless, the Administration Committee shall have absolute discretion in the exercise of its powers under this Section 12.4. All exercises of power by the Administration Committee hereunder shall be final, conclusive and binding, unless found by a court of competent to be arbitrary and capricious.