ADP 2012 Annual Report Download - page 114

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(c) to compute and certify to the amount and kind of benefits payable to Participants and their Beneficiaries;
(d) to maintain all records that may be necessary for the administration of the Plan;
(e) to provide for the disclosure of all information and the filing or provision of all reports and statements to Participants, Beneficiaries
or governmental agencies as shall be required by law;
(f) to make and publish such rules for the regulation of the Plan and procedures for the administration of the Plan as are not inconsistent
with the terms hereof;
(g) to appoint a Plan Administrator, or any other agent, and to delegate to them such powers and duties in connection with the
administration of the Plan as the Committee may from time to time prescribe; and
(h) to take all actions necessary for the administration of the Plan.
7.4 Construction and Interpretation . The Committee shall have full discretion to construe and interpret the terms and provisions of this
Plan, which interpretations or construction shall be final and binding on all parties, including but not limited to the Company and any
Participant or Beneficiary.
7.5 Compensation, Expenses and Indemnity .
(a) The members of the Committee shall serve without compensation for their services hereunder.
(b) The Committee is authorized at the expense of the Company to employ such legal counsel as it may deem advisable to assist in the
performance of its duties hereunder. Expenses and fees in connection with the administration of the Plan shall be paid by the Company.
ARTICLE VIII
MISCELLANEOUS
8.1 Unsecured General Creditor . Participants and their Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights,
claims, or interest in any specific property or assets of the Company. No assets of the Company shall be held in any way as collateral security
for the fulfilling of the obligations of the Company under this Plan. Any and all of the Company’s assets shall be, and remain, the general
unpledged, unrestricted assets of the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured
promise of the Company to pay money in the future, and the rights of the Participants and Beneficiaries shall be no greater than those of
unsecured general creditors. It is the intention of the Company that this Plan be unfunded for purposes of the Code and for purposes of Title I
of ERISA.
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