Transition Period to Implement Plan Changes. In connection with a change in record keepers, trustees, or other service providers for the Plan, a change in the methodology for valuing Accounts (including Lodgian Stock and/or Lodgian Warrants), a change in investment options, a plan merger or other circumstances, a temporary interruption in the normal operations of the Plan may be required in order to properly implement such change or merger or take action in light of such circumstances. In such event or under such circumstances, the Plan Administrator, may take such action as it deems appropriate under the circumstances to implement such change or merger or in light of such circumstances, including authorizing a temporary interruption in a Participant's ability to obtain information about his or her Account, to take distributions from such Account and to make changes in the investment of that Account, provided the Plan Administrator will take appropriate action as to give Participants, Beneficiaries of a deceased Participant and alternate payees advance notice in accordance with the requirements of ERISA as possible and to minimize the scope and length of the interruption in normal Plan operations. In addition, when changing investment options, the Plan Administrator will take such action as it deems appropriate under the circumstances to direct the investment of the funds pending completion by the Trustee of the administrative processes necessary to transfer investment authority to the Participants, Beneficiaries of deceased Participants or alternate payees, including, but not limited to, mapping monies from old funds to new funds.
Transition Period to Implement Plan Changes. In connection with a change in record keepers, trustees, or other service providers for the Plan, a change in the methodology for valuing accounts, a change in investment options, a plan merger or other circumstances, or by applicable law, a temporary interruption in the normal operations of the Plan may be required in order to properly implement such change, merger or legal requirement or to take action in light of such circumstances. In such event or under such circumstances, the Committee may take such action as it deems appropriate under the circumstances to implement change, merger or legal requirement or in light of such circumstances, including authorizing a temporary interruption in a Participant’s ability to obtain information about his or her Account, to take distributions from such Account and to make changes in some or all of the investment of that Account, provided the Committee will take appropriate action to give Participants and Beneficiaries as much advance notice of the interruption as possible and to minimize the scope and length of the interruption in normal Plan operations. In addition, when changing investment options, the Committee will take such action as it deems appropriate under the circumstances to direct the investment of the funds pending completion by the Trustee of the administrative processes necessary to transfer investment authority to the Participants and Beneficiaries, including, but not limited to, mapping monies from old funds to new funds.
