Ally Bank 2011 Annual Report Download - page 285

limited to Title VII of the American Recovery and Reinvestment Act of 2009 and the Troubled Asset Relief Program and the
regulations thereunder.
10.9 Unforeseeable Emergency. The Committee, in its sole discretion, may provide in the Award Letter or take such unilateral
action so that all or a portion of the Awards will be Paid if a Participant has an Unforeseeable Emergency, provided that such
Payment fully complies with Code Section 409A and any Federal law or regulation that may govern the Company’s executive
compensation, including but not limited to Title VII of the American Recovery and Reinvestment Act of 2009 and the Troubled
Asset Relief Program and the regulations thereunder.
10.10 Section 409A Mandatory 6−Month Delay. Notwithstanding anything contained in the Plan to the contrary, if the Committee
determines that the Participant is a “specified employee” as such term is defined and used under Code Section 409A(a)(2)(B)(i)
and Treasury Regulation Section 1.409A−3(i)(2), then all Payments based on a termination of employment shall be subject to a
mandatory delay and Paid on the first day of the 7th month following the date that would have been the date of Payment if the
Participant had not been determined by the Committee to be a “specified employee” and based on the most recent Common Stock
Value as of the date that would have been the date of Payment had the Participant not been determined by the Committee to be a
specified employee.
11.0 CLAIMS
11.1 Claims Procedure. If any Participant or Beneficiary, or his or her legal representative, has a claim for benefits under the Plan
which is not being paid, such claimant may file a written claim with the Committee setting forth the amount and nature of the
claim, supporting facts, and the claimant's address. Written notice of the disposition of a claim by the Committee shall be
furnished to the claimant within 90 days after the claim is filed. In the event of special circumstances, the Committee may extend
the period for determination for up to an additional 90 days, in which case it shall so advise the claimant. If the claim is denied,
the reasons for the denial shall be specifically set forth in writing, pertinent pro−visions of the Plan shall be cited, including an
explanation of the Plan's claim review procedure, and, if the claim is perfectible, an explanation as to how the claimant can perfect
the claim shall be provided.
11.2 Claims Review Procedure. If a claimant whose claim has been denied wishes further consideration of his or her claim, he or
she may request the Committee to review his or her claim in a written statement of the claimant's position filed with the
Committee no later than 60 days after receipt of the written notification provided for in Section 11.1 above. The Committee shall
fully and fairly review the matter and shall promptly advise