This excerpt taken from the GD 10-K filed Feb 23, 2007.
5.01 Construction. In the construction of the Plan the masculine shall include the feminine and the singular shall include the plural in all cases where such meanings would be appropriate. This Plan shall be construed, governed, regulated, and administered according to the laws of the State of Virginia.
5.02 Employment. The Plan is not an employment contract. Participation in the Plan shall not give any Employee the right to be retained in the employ of the Corporation or its Subsidiaries, or upon dismissal or upon his voluntary termination of employment, to have any right, legal or equitable, under the Plan or any portion thereof, except as expressly granted by the Plan.
5.03 Non-alienability of Benefits. No benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge; and any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same shall be void; and no such benefit shall in any manner be liable for or subject to the debts, liabilities, engagements, or torts of the person entitled to such benefit, except as specifically provided in the Plan or pursuant to a Qualified Domestic Relations Order as described in Code Section 414(p).
5.04 Facility of Payment. If any recipient of benefits is, in the judgment of the Corporation, legally incapable of personally receiving and giving a valid receipt for any payment due him under the Plan, the Corporation may, unless and until claims shall have been made by a duly appointed guardian or committee of such person, make such payment or any part thereof to such persons spouse, children, or other legal entity deemed by the Corporation to have incurred expenses or assumed responsibility for the expenses of such person. Any payment so made shall be a complete discharge of any liability under the Plan for such payment.
5.05 Discretionary Payment of Benefits. In any instance in which the Corporation in its sole and uncontrolled discretion believes such action to be in the best interest of the party entitled to receive any payment provided by this Plan, or to be in the best interests of the Corporation, amounts payable in installments pursuant to the provisions of this Plan may be paid in a single lump sum, the amount of which shall be of Actuarial Equivalent Value to the benefits for which the lump sum is to be substituted. It is intended by this Section 5.05 to vest the Corporation with full discretion to administer this Plan and to determine when and under what circumstances deviations which accelerate payments are necessary, desirable, or appropriate; and the Corporation shall have full power to authorize such deviations as regards each payee separately.
5.06 Obligation to Pay Amounts Hereunder.
5.07 Administration. To the extent consistent with the purposes and provisions of this Plan and as may be deemed necessary or advisable in the best judgment of the Corporation, the Plan shall be operated under the Administrative and General Provisions of the Defined Benefit Plans.
The Corporation shall make all determinations as to the right of any person to a benefit. Any denial by the Corporation of a claim for benefits under the Plan by a Participant shall be stated in writing by the Corporation and delivered or mailed to such individual. Such notice shall set forth the specific reasons for the denial, the specific reference to the provisions of the Plan on which the denial is based, a description of any additional material or information necessary to perfect the claim, an explanation of why such material or information is necessary, and the right to appeal a denial of the claim, for a full and fair review provided that a written request is made therefore within seventy-five (75) days after receipt of written notice of the denial of the claim, all in readily understandable language. Pertinent documents may be reviewed and issues and comments submitted in writing to the Corporation. If an appeal shall be made, the final decision shall be made within a period of sixty (60) days following receipt of the appeal, unless special circumstances require an extension of time for processing, in which case the decision shall be rendered as soon as possible, but not later than one hundred twenty (120) days after receipt of such appeal.
Unless otherwise provided by the Corporation, the Corporations Employee Benefit Appeals Committee shall rule in place of the Corporation and the Committees ruling shall be the final decision of the Corporation. Benefits shall be paid under the Plan only if the Corporation or Corporations Employee Benefit Appeals Committee in its sole discretion, determines that a Participant is entitled to them. There shall be no duplication of benefits between this Plan and its Appendices and any other plan or agreement with the Corporation or its Subsidiaries for the same period of service unless otherwise specifically stated in the Plan, Appendices or such other plan or agreement.