Abercrombie & Fitch 2008 Annual Report Download - page 142

Section 7. PLAN ADMINISTRATION
A. General. The Plan Administrator will have the right to interpret and construe the Plan and to determine all questions of
eligibility and of status, rights and benefits of Participants and all other persons claiming benefits under the Plan. In all such
interpretations and constructions, the Plan Administrator’s determination will be based upon uniform rules and practices applied in a
nondiscriminatory manner and will be binding upon all persons affected thereby. Subject to the provisions of Section 8 below, any
decision by the Plan Administrator with respect to any such matters will be final and binding on all parties. The Plan Administrator
will have absolute discretion in carrying out his or her responsibilities under this Section 7.
B. Compliance with Section 409A. It is intended that the Plan comply with the provisions of Code Section 409A, so as to prevent
the inclusion in gross income of any amounts deferred hereunder in a taxable year that is prior to the taxable year or years in which
such amounts would otherwise actually be paid or made available to Participants or Beneficiaries. The Plan shall be construed,
administered, and governed in a manner that effects such intent, and neither the Board nor the Plan Administrator shall take any action
that would be inconsistent with such intent. Although each of the Board and the Plan Administrator shall use its best efforts to avoid
the imposition of taxation, interest, and penalties under Code Section 409A, the tax treatment of deferrals under the Plan is not
warranted or guaranteed. Neither the Company, the Board, nor the Plan Administrator shall be held liable for any taxes, interest,
penalties, or other monetary amounts owed by any Participant, Beneficiary, or other taxpayer as a result of the Plan. Any reference in
the Plan to Code Section 409A will also include any proposed, temporary, or final regulations, or any other guidance promulgated
with respect to Code Section 409A by the U.S. Department of Treasury or the Internal Revenue Service.
C. Payment Delays and Accelerations Under Section 409A. To the extent permitted under Section 409A of the Code, the Plan
Administrator may, in its sole discretion, delay a payment to a Participant or Beneficiary if the payment of such amounts, but for such
delay, would violate federal securities laws or jeopardize the economic viability of the Company, provided that the Plan Administrator
treats all payments to similarly situated Participants on a reasonably consistent basis. Further, to the extent permitted by Section 409A
of the Code, the Plan Administrator may, in its sole discretion, accelerate the time or schedule of a payment under the Plan to the
extent permitted under Treasury Regulation Section 1.409A-3(j).
Section 8. CLAIMS PROCEDURE
A. Filing Claims. Any Participant or Beneficiary entitled to benefits under the Plan will file a claim request with the Plan
Administrator.
B. Notification to Claimant. If a claim request is wholly or partially denied, the Plan Administrator will furnish to the claimant a
notice of the decision within ninety (90) days in writing and in a manner calculated to be understood by the claimant, which notice
will contain the following information:
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Source: ABERCROMBIE & FITCH CO /DE/, 10-K, March 27, 2009 Powered by Morningstar® Document Research℠