Common use of Exception for Judgments and Settlement Agreements Clause in Contracts

Exception for Judgments and Settlement Agreements. Notwithstanding any provision of the Plan to the contrary, a Participant's benefit under the Plan may be offset pursuant to an order or requirement to pay that arises under a judgment of conviction for a crime involving the Plan, a civil judgment entered by a court in an action brought in connection with a violation of ERISA, Title I, Subtitle B, Part 4, or a settlement agreement between the Participant and the U.S. Secretary of Labor or the PBGC, in accordance with the requirements of U.S. Code Sections 401(a)(13)(C) and (D).