GIS » Topics » ARTICLE III - ADMINISTRATION OF THE PLAN

This excerpt taken from the GIS 10-K filed Jul 28, 2005.

ARTICLE III – ADMINISTRATION OF THE PLAN

  3.01   Administrator
  The Plan shall be supervised by the Administrator, who shall have the authority to construe and interpret the Plan. Interpretations and decisions of the Administrator shall be final and binding on all parties, including the Company and the Participants.

  3.02   Delegated Duties
  The Administrator shall delegate to the Benefits Department the duties and responsibilities of maintaining records, issuing such rules and regulations as it deems appropriate, and directing and making the payment of benefits provided hereunder.

  3.03   Designation and Termination of Participant Status
  The Administrator shall designate by written instrument those employees chosen to be Participants in the Plan, which shall include participants in the General Mills, Inc. Executive Incentive Plan. Participants may be added or deleted at any time at the discretion of the Administrator.

  3.04   Amendment and Termination of Plan
  The Company may amend, modify or terminate the Plan and all benefits hereunder at any time.

  3.05   Non-assignability of Benefits
  Except to the extent required by law and other than as provided herein, the benefits payable hereunder or the right to receive future benefits under the Plan may not be anticipated, alienated, sold, transferred, assign, pledged, encumbered, or subjected to any charge or legal process, and if a person eligible for any benefits becomes bankrupt, the interest under the Plan of the person affected may be terminated by the Administrator, who, in his or her sole discretion, may cause the same to be held or



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  applied for the benefit of one or more of the Dependents of such person or make any other disposition of such benefits as he or she deems appropriate.

  3.06   Applicable Law
  All questions pertaining to the construction, validity and effect of the Plan shall be determined in accordance with the laws of the United States and the laws of the State of Minnesota.

  3.07   Effective Date
  This Plan became effective as of January 1, 1980.


















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