ADP 2008 Annual Report Download - page 93

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5.6 Protective Provisions. The Participant shall cooperate with the Company by furnishing any and all information requested by the
Company in order to facilitate the payment of benefits hereunder.
5.7 Right of Offset. If at the time any payments are to be made hereunder a Participant is indebted to the Company or otherwise subject to
a monetary claim by the Company, such payments may, at the Company’ s discretion, be reduced by setoff of up to $5,000 in any given taxable
year of the Participant against the amount of such indebtedness or claim.
5.8 No Third Party Rights. Nothing in this Plan or any trust established pursuant to Section 5.2 hereof shall be construed to create any
rights hereunder in favor of any person (other than the Company and any Participant) or to limit the Company’ s right to amend or terminate the
Plan in any manner subject to Section 5.5 hereof.
5.9 Section 409A. Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of this Plan shall comply
with Section 409A of the Code, and all provisions of this Plan shall be construed and interpreted in a manner consistent with the requirements
for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible and liable for the satisfaction of all taxes
and penalties that may be imposed on or in respect of such Participant in connection with this Plan or any other plan maintained by the
Company (including any taxes and penalties under Section 409A of the Code), and neither the Company nor any subsidiary or affiliate shall
have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless from any or all of such taxes or penalties.
ARTICLE VI
MISCELLANEOUS
6.1 Nonassignability. No rights or payments to any Participant shall be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or charge, whether voluntary or involuntary, and no attempt so to anticipate, alienate, sell, transfer, assign,
pledge, encumber or charge the same shall be valid, nor shall any such benefit or payment be in any way liable for or subject to the debts,
contracts, liabilities, engagements or torts of any Participant or subject to levy, garnishment, attachment, execution or other legal or equitable
process. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts,
j
udgments, alimony or separate maintenance owed by a Participant, nor be transferable by operation of law in the event of a Participan
t
’ s
bankruptcy or insolvency.
6.2 Withholding. To the extent required by law the Company shall be entitled to withhold from any payments due hereunder any federal,
state and local taxes required to be withheld in connection with such payment.
6.3 Gender and Number. Wherever appropriate herein, the masculine shall mean the feminine and the singular shall mean the plural or
vice versa.
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