Common use of Powers of Plan Administrator Clause in Contracts

Powers of Plan Administrator. The Plan Administrator shall control and manage the operation and administration of the Plan according to its terms and provisions, and shall have all powers necessary to accomplish these purposes, including, but not limited to, the power, in its sole and absolute discretion: (1) to make written rules, regulations and by-laws for the administration of the Plan, provided such are not inconsistent with the terms and provisions of the Plan, copies of which shall be delivered to the Trustee and to the Employer in order to be effective; (2) to construe, within its sole discretion, all terms, provisions, conditions and limitations of the Plan (provided that, in all cases the construction which shall be required and which shall control shall permit the Plan to comply with ERISA or qualify under Code section 401); (3) to correct any defect, supply any omission, or reconcile any inconsistency that may appear in this Plan, in such manner and to such extent as it shall deem expedient to carry the Plan into effect for the greatest benefit of all interested parties; (4) to select, employ and compensate such investment professionals, retirement plan professionals, accountants, advisers, attorneys, recordkeepers, consultants, advisors and other agents and employees as it may deem necessary or advisable in the proper and efficient administration of this Plan; (5) to determine all questions relating to eligibility for participation, vesting and benefits, including the authority to settle, in a compromised fashion, any disputed claims against the Plan; (6) to direct the Trustee concerning the payment and distribution of the Trust Fund; (7) to establish and maintain records concerning the Accounts of the Participants; (8) to determine, through a reasoned process, the appropriate allocation of expenses between the Plan Sponsor and the Plan; (9) to file with the appropriate government agency (or agencies) annual reports, plan descriptions, summary plan descriptions, and other pertinent documents which may be duly requested; (10) to determine the proper voting of proxy materials, except with respect to Employer Securities (as defined in Section 10.04(a)), related to the Investment Options (as defined in Section 10.02) or to appoint a Committee to handle the same. Generally, a proxy will be voted to support the management proposals, however, proposals which could be detrimental to the interests of the Plan and the Participants will be voted against; (11) to delegate to one or more officers of the Employer, or, if there is a Committee, to one or more members of the Committee, the right to act on behalf of the Plan Administrator in all matters connected with the administration of the Plan and Trust; (12) to delegate to one or more individuals such of the above powers and duties as the Plan Administrator shall deem appropriate; (13) to establish reasonable contingency plans in the event there is a failure of the written rules, regulations and by-laws for the administration of the Plan due to the year 2000; and (14) to interpret "written," including any derivative of that term, in accordance with statutory and regulatory provisions which impact electronic transmissions and retention of information and documentation.

Powers of Plan Administrator. The Plan Administrator shall control and manage the operation and administration of the Plan according to its terms and provisions, and shall have all powers necessary to accomplish these purposes, including, but not limited to, the power, in its sole and absolute discretion: (1) to make written rules, regulations and by-laws for the administration of the Plan, provided such are not inconsistent with the terms and provisions of the Plan, copies of which shall be delivered to the Trustee and to the Employer in order to be effective; (2) to construe, within its sole discretion, all terms, provisions, conditions and limitations of the Plan (provided that, in all cases the construction which shall be required and which shall control shall permit the Plan to comply with ERISA or qualify under Code section 401); (3) to correct any defect, supply any omission, or reconcile any inconsistency that may appear in this Plan, in such manner and to such extent as it shall deem expedient to carry the Plan into effect for the greatest benefit of all interested parties; (4) to select, employ and compensate such investment professionals, retirement plan professionals, accountants, advisers, attorneys, recordkeepers, consultants, advisors and other agents and employees as it may deem necessary or advisable in the proper and efficient administration of this Plan; (5) to determine all questions relating to eligibility for participation, vesting and benefits, including the authority to settle, in a compromised fashion, any disputed claims against the Plan; (6) to direct the Trustee concerning the payment and distribution of the Trust Fund; (7) to establish and maintain records concerning the Accounts of the Participants; (8) to determine, through a reasoned process, the appropriate allocation of expenses between the Plan Sponsor and the Plan; (9) to file with the appropriate government agency (or agencies) annual reports, plan descriptions, summary plan descriptions, and other pertinent documents which may be duly requested; (10) to determine the proper voting of proxy materials, except with respect to Employer Securities (as defined in Section 10.04(a11.04(a)), related to the Investment Options (as defined in Section 10.0211.02) or to appoint a Committee committee to handle the same. Generally, a proxy will be voted to support the management proposals, however, proposals which could be detrimental to the interests of the Plan and the Participants will be voted against; (11) to delegate to one or more officers of the Employer, or, if there is a Committee, to one or more members of the Committee, the right to act on behalf of the Plan Administrator in all matters connected with the administration of the Plan and Trust; (12) to delegate to one or more individuals such of the above powers and duties as the Plan Administrator shall deem appropriate; (13) to establish reasonable contingency plans in the event there is a failure of the written rules, regulations and by-laws for the administration of the Plan due to the year 2000; and (14) to interpret "“written," ” including any derivative of that term, in accordance with statutory and regulatory provisions which impact electronic transmissions and retention of information and documentation; and (15) to amend the Plan for the following purposes: to maintain the Plan’s qualification under Code Sections 401(a) and 501(a); to make administrative changes to the Plan that do not significantly change the Plan’s benefits; to appoint or remove a Trustee; and to consent to the adoption of the Plan by other business entities. Notwithstanding any other provisions of this Plan to the contrary, the Plan Administrator may establish reasonable alternative procedures to manage the operation and administration of the Plan, in the event that there is a failure of standard practices and procedures due to a year 2000 problem.

Powers of Plan Administrator. The Plan Administrator shall control and manage the operation and administration of the Plan according to its terms and provisions, and shall have all powers necessary to accomplish these purposes, including, but not limited to, the power, in its sole and absolute discretion: (1) to make written rules, regulations and by-laws for the administration of the Plan, (2) to establish rules, provided such are not inconsistent with policies and procedures for the terms and provisions administration of Investment Options within the Plan, copies including, but not limited to rules, policies and/or procedures that: (A) limit how frequently a Participant may give investment instructions; (B) restrict the number of investment instructions a Participant may give; (C) restrict exchange activity within a particular Investment Option; (D) apply different rules, policies, and procedures to different Accounts and/or Investment Options within the Plan; (E) establish the method to be used to determine when any investment was made in a particular Investment Option, such as Last In First Out (LIFO) or First In First Out (FIFO); (F) impose a dollar or percentage limitation on investment exchanges involving any or all Investment Options; (G) define and/or limit the time frames during which shall investment instructions will be implemented; (H) limit or restrict the ability of Participants to make or change investment instructions and/or to permit the Plan Administrator to decline to implement any investment instructions; (I) require the effective date of a trade to be one or more days later than the date the investment instructions are made; or (J) impose any other limit and/or restriction, that the Plan Administrator deems appropriate; provided notice of such rules, policies and procedures are delivered to the Trustee and to the Employer recordkeeper in order to be effective; (23) to construe, within its sole discretion, all terms, provisions, conditions and limitations of the Plan (provided that, in all cases the construction which shall be required and which shall control shall permit the Plan to comply with ERISA or qualify under Code section 401); (34) to correct any defect, supply any omission, or reconcile any inconsistency that may appear in this Plan, in such manner and to such extent as it shall deem expedient to carry the Plan into effect for the greatest benefit of all interested parties; (45) to select, employ and compensate such investment professionals, retirement plan professionals, accountants, advisers, attorneys, recordkeepers, consultants, advisors and other agents and employees as it may deem necessary or advisable in the proper and efficient administration of this Plan; (56) to determine all questions relating to eligibility for participation, vesting and benefits, including the authority to settle, in a compromised fashion, any disputed claims against the Plan; (67) to direct the Trustee concerning the payment and distribution of the Trust Fund; (7) 8) to establish and maintain records concerning the Accounts of the Participants; (8) 9) to determine, through a reasoned process, the appropriate allocation of expenses between the Plan Sponsor and the Plan; (910) to file with the appropriate government agency (or agencies) annual reports, plan descriptions, summary plan descriptions, and other pertinent documents which may be duly requested; (1011) to determine the proper voting of proxy materials, except with respect to Employer Securities (as defined in Section 10.04(a)), related to the Investment Options (as defined in Section 10.02) or to appoint a Committee committee to handle the same. Generally, a proxy will be voted to support the management proposals, however, proposals which could be detrimental to the interests of the Plan and the Participants will be voted against; (1112) to delegate to one or more officers of the Employer, or, if there is a Committee, to one or more members of the Committee, the right to act on behalf of the Plan Administrator in all matters connected with the administration of the Plan and Trust; (1213) to delegate to one or more individuals such of the above powers and duties as the Plan Administrator shall deem appropriate; (1314) to establish reasonable contingency plans in the event there is a failure of the written rules, regulations and by-laws for the administration of the Plan due to the year 2000any technical issues; and (1415) to interpret "“written," ” including any derivative of that term, in accordance with statutory and regulatory provisions which impact electronic transmissions and retention of information and documentation.

Powers of Plan Administrator. The Plan Administrator shall control and manage the operation and administration of the Plan according to its terms and provisions, and shall have all powers necessary to accomplish these purposes, including, but not limited to, the power, in its sole and absolute discretion: (1) to make written rules, regulations and by-laws for the administration of the Plan, provided such are not inconsistent with the terms and provisions of the Plan, copies of which shall be delivered to the Trustee and to the Employer in order to be effective; (2) to construe, within its sole discretion, all terms, provisions, conditions and limitations of the Plan (provided that, in all cases the construction which shall be required and which shall control shall permit the Plan to comply with ERISA or qualify under Code section 401); (3) to correct any defect, supply any omission, or reconcile any inconsistency that may appear in this Plan, in such manner and to such extent as it shall deem expedient to carry the Plan into effect for the greatest benefit of all interested parties; (4) to select, employ and compensate such investment professionals, retirement plan professionals, accountants, advisers, attorneys, recordkeepers, consultants, advisors and other agents and employees as it may deem necessary or advisable in the proper and efficient administration of this Plan; (5) to determine all questions relating to eligibility for participation, vesting and benefits, including the authority to settle, in a compromised fashion, any disputed claims against the Plan; (6) to direct the Trustee concerning the payment and distribution of the Trust Fund; (7) to establish and maintain records concerning the Accounts of the Participants; (8) to determine, through a reasoned process, the appropriate allocation of expenses between the Plan Sponsor and the Plan; (9) to file with the appropriate government agency (or agencies) annual reports, plan descriptions, summary plan descriptions, and other pertinent documents which may be duly requested; (10) to determine the proper voting of proxy materials, except with respect to Employer Securities (as defined in Section 10.04(a11.04(a)), related to the Investment Options (as defined in Section 10.0211.02) or to appoint a Committee committee to handle the same. Generally, a proxy will be voted to support the management proposals, however, proposals which could be detrimental to the interests of the Plan and the Participants will be voted against; (11) to delegate to one or more officers of the Employer, or, if there is a Committee, to one or more members of the Committee, the right to act on behalf of the Plan Administrator in all matters connected with the administration of the Plan and Trust; (12) to delegate to one or more individuals such of the above powers and duties as the Plan Administrator shall deem appropriate; (13) to establish reasonable contingency plans in the event there is a failure of the written rules, regulations and by-laws for the administration of the Plan due to the year 2000; and (14) to interpret "“written," ” including any derivative of that term, in accordance with statutory and regulatory provisions which impact electronic transmissions and retention of information and documentation. Notwithstanding any other provisions of this Plan to the contrary, the Plan Administrator may establish reasonable alternative procedures to manage the operation and administration of the Plan, in the event that there is a failure of standard practices and procedures due to a year 2000 problem.