{"id":38518,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/amendment-to-pension-plan-alcoa.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"amendment-to-pension-plan-alcoa","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/amendment-to-pension-plan-alcoa.html","title":{"rendered":"Amendment to Pension Plan – Alcoa"},"content":{"rendered":"

AMENDMENT TO<\/p>\n

ALCOA SUPPLEMENTAL PENSION PLAN FOR SENIOR EXECUTIVES<\/p>\n

Pursuant to Section 5.1, which provides that the Plan may be amended, the
\nPlan is revised as follows:<\/p>\n<\/p>\n\n\n\n
1.<\/strong><\/td>\nSection 5.1 is amended to replace the reference in the
\nfinal sentence to “the Board of Directors’ Inside Director Committee” with
\n“Benefits Management Committee”: <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

This Plan may also be amended, from time to time by the Benefits Management
\nCommittee, except for amendments which have more than a minimal effect upon the
\nCompany’s cost of providing benefits for Company employees at the officer level.\n<\/p>\n<\/p>\n\n\n\n
2.<\/strong><\/td>\nThe following new Article VII : Claims and
\nAppeals<\/u> is added: <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

ARTICLE VII : CLAIMS AND APPEALS <\/u><\/strong><\/p>\n

7.1 If a claim by a Participant, Surviving Spouse or beneficiary is denied in
\nwhole or in part, the Participant, Surviving Spouse or beneficiary, or their
\nrepresentative will receive written notice from the plan administrator. This
\nnotice will include the reasons for denial, the specific plan provision
\ninvolved, an explanation of how claims are reviewed, the procedure for
\nrequesting a review of the denied claim, and a description of the information
\nthat must be submitted with the appeal. The Participant, Surviving Spouse or
\nbeneficiary, or their representative, may file a written appeal for review of a
\ndenied claim to the plan administrator. The process and the time frames for the
\ndetermination claims and appeals are as follows:<\/p>\n

(a) The plan administrator reviews initial claim and makes determination
\nwithin 90 days of the date the claim is received.<\/p>\n

(b) The plan administrator may extend the above 90-day period an additional
\n90 days if required due to special circumstances beyond control of plan
\nadministrator.<\/p>\n

(c) The Participant, Surviving Spouse or beneficiary, or their
\nrepresentative, may submit an appeal of a denied claim within 60 days of receipt
\nof the denial.<\/p>\n

(d) The plan administrator reviews and makes a determination on the appeal
\nwithin 60 days of the date the appeal was received.<\/p>\n

(e) The plan administrator may extend the above 60-day period an additional
\n60 days if required by special circumstances beyond the control of the plan
\nadministrator.<\/p>\n

7.2 In the case where the plan administrator requires an extension of the
\nperiod to provide a determination on an initial claim or an appeal, the Plan
\nwill notify the<\/p>\n<\/p>\n

1<\/p>\n<\/p>\n

\n

Participant, Surviving Spouse or beneficiary, or their representative, prior
\nto the expiration of the initial determination period. The notification will
\ndescribe the circumstances requiring the extension and the date a determination
\nis expected to be made. If additional information is required from the
\nParticipant, Surviving Spouse or beneficiary, the determination period will be
\nsuspended until the earlier of i) the date the information is received by the
\nplan administrator or ii) 45 days from the date the information was requested.\n<\/p>\n

7.3 Participants, Surviving Spouses or Beneficiaries, or their
\nrepresentative, who having received an adverse appeal determination and thereby
\nexhausted the remedies provided under the this Plan, proceed to file suit in
\nstate or federal court, must file such suit within 180 days from the date of the
\nadverse appeal determination notice.<\/p>\n<\/p>\n\n\n\n
3.<\/strong><\/td>\nIn all other respects, the Plan is ratified and
\nconfirmed. <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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