Common use of Powers and Duties of the Committee Clause in Contracts

Powers and Duties of the Committee. In addition to any implied powers and duties which may be needed to carry out the provisions of this resolution, the Committee shall have the following specific powers and duties and full discretion in its exercise thereof: (a) To make and enforce such rules and regulations as it shall deem necessary or proper for the efficient administration of the Plan; (b) To interpret the Plan and to decide any and all matters arising thereunder; including the right to remedy possible ambiguities, inconsistencies or omissions, provided, however, that all such interpretations and decisions shall be applied in a uniform manner to all employees similarly situated; (c) To compute the amount of Plan benefits which shall be payable to any Participant or Beneficiary in accordance with the provisions of the Plan; (d) To authorize disbursements from the Trust (any instructions of the Committee to the Trustee shall be evidenced in writing and signed by a member of the Committee delegated with such authority by a majority of the Committee); (e) To employ, appoint, or engage such advisors (including but not limited to attorneys and enrolled actuaries) and such other technical and clerical personnel as may be required in the Committee’s discretion for the proper administration of the Plan, except that the Committee shall not appoint or discharge trustees or investment managers; and (f) To adopt such amendments to the Plan and the Trust Agreement which in the judgment of the Committee, clarifies the Plan or the Trust Agreement, or are necessary or appropriate to comply with federal or state laws or regulations or to obtain the Internal Revenue Services’ determination of qualified status, as long as such changes do not materially change the benefits under the Plan. The Committee will be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports which will be furnished by any actuary, accountant, controller, counsel or other person who is employed or engaged for such purposes.

Powers and Duties of the Committee. In addition to any implied powers The Committee shall administer and duties which may be needed to carry out supervise the operation of the Plan in accordance with the terms and provisions of this resolution, the Plan. The Committee shall have all powers necessary for the following specific powers and performance of its duties, which duties and full discretion in its exercise thereofshall be as follows: (a) To make to interpret and enforce construe the provisions of the Plan, supplying any omissions and resolving any inconsistencies therein, and to determine issues of fact and the application of the law with respect to the Plan, its Participants and Beneficiaries. (b) to determine the eligibility of Employees for participation in the Plan, and to notify such rules Eligible Employees of their eligibility and regulations the requirements for such participation; (c) to determine and certify eligibility for benefits under the Plan, and to determine the amount, manner and time of the payment of such benefits; (d) to prepare and distribute, in such manner as it shall deem necessary or proper for the efficient administration of Committee determines to be appropriate, information explaining the Plan; (be) To interpret the Plan to require an Eligible Employee to complete and to decide any and all matters arising thereunder; including the right to remedy possible ambiguities, inconsistencies or omissions, provided, however, that all such interpretations and decisions shall be applied in a uniform manner to all employees similarly situated; (c) To compute the amount of Plan benefits which shall be payable to any Participant or Beneficiary in accordance file with the provisions of Committee a Joinder Agreement in order to become a Participant in the Plan; (df) To authorize disbursements from the Trust (any instructions of the Committee to the Trustee shall be evidenced in writing and signed by a member of the Committee delegated with adopt such authority by a majority of the Committee); (e) To employrules as it deems necessary, appoint, desirable or engage such advisors (including but not limited to attorneys and enrolled actuaries) and such other technical and clerical personnel as may be required in the Committee’s discretion appropriate for the proper administration of the Plan, except that provided such rules are consistent with the terms and provisions of the Plan; all rules and decisions of the Committee shall not appoint or discharge trustees or investment managersbe uniformly and nondiscriminatorily applied to all Participants, former Participants and Beneficiaries in similar circumstances unless expressly provided otherwise herein; and (fg) To adopt to appoint such amendments to the Plan and the Trust Agreement which agents as it may need in the judgment performance of the Committee, clarifies the Plan or the Trust Agreement, or are necessary or appropriate to comply with federal or state laws or regulations or to obtain the Internal Revenue Services’ determination of qualified status, as long as such changes do not materially change the benefits under the Plan. The Committee will be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports which will be furnished by any actuary, accountant, controller, counsel or other person who is employed or engaged for such purposesits duties.

Powers and Duties of the Committee. In addition to any implied powers The Committee shall administer and duties which may be needed to carry out supervise the operation of the Plan in accordance with the terms and provisions of this resolution, the Plan. The Committee shall have all powers necessary for the following specific powers and performance of its duties, which duties and full discretion in its exercise thereofshall be as follows: (a) To make to interpret and enforce construe the provisions of the Plan, supplying any omissions and resolving any inconsistencies therein, and to determine issues of fact and the application of the law with respect to the Plan, its Participants and Beneficiaries. (b) to determine the eligibility of Eligible Executives for membership in the Plan, and to notify such rules Eligible Executives of their eligibility and regulations the requirements for such participation; (c) to determine and certify eligibility for benefits under the Plan, and to determine the amount, manner and time of the payment of such benefits; (d) to prepare and distribute, in such manner as it shall deem necessary or proper for the efficient administration of Committee determines to be appropriate, information explaining the Plan; (be) To interpret the Plan to require a Eligible Executive to complete and to decide any and all matters arising thereunder; including the right to remedy possible ambiguities, inconsistencies or omissions, provided, however, that all such interpretations and decisions shall be applied in a uniform manner to all employees similarly situated; (c) To compute the amount of Plan benefits which shall be payable to any Participant or Beneficiary in accordance file with the provisions of Committee a Joinder Agreement in order to become a Participant in the Plan; (df) To authorize disbursements from the Trust (any instructions of the Committee to the Trustee shall be evidenced in writing and signed by a member of the Committee delegated with adopt such authority by a majority of the Committee); (e) To employrules as it deems necessary, appoint, desirable or engage such advisors (including but not limited to attorneys and enrolled actuaries) and such other technical and clerical personnel as may be required in the Committee’s discretion appropriate for the proper administration of the Plan, except that provided such rules are consistent with the terms and provisions of the Plan; all rules and decisions of the Committee shall not appoint or discharge trustees or investment managersbe uniformly and nondiscriminatorily applied to all Participants, former Participants and Beneficiaries in similar circumstances unless expressly provided otherwise herein; and (fg) To adopt to appoint such amendments to the Plan and the Trust Agreement which agents as it may need in the judgment performance of the Committee, clarifies the Plan or the Trust Agreement, or are necessary or appropriate to comply with federal or state laws or regulations or to obtain the Internal Revenue Services’ determination of qualified status, as long as such changes do not materially change the benefits under the Plan. The Committee will be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports which will be furnished by any actuary, accountant, controller, counsel or other person who is employed or engaged for such purposesits duties.