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.
