Freddie Mac 2014 Annual Report Download - page 311

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(iii) to clarify rights to future benefits under the Plan, or
(iv) that relates to the Plan and seeks a remedy, ruling, or judgment of
any kind against the Plan, the Administrator, the Corporation, an Employer, or
any employee or director thereof,
may not be filed in any court until the claimant has exhausted the Plan’s claim and appeal
process for any and all reasons the claimant believes his or her claim should be approved.
In addition, any claim or action must be filed within 180 calendar days after written
notice of the denial or partial denial on review is received by the claimant. If such
claimant fails to bring civil action within the aforementioned 180 calendar days, the
claimant shall be foreclosed from commencing any such action. Any action filed after
the 180 day period shall be time-barred.
ARTICLE VII
Amendment and Termination
7.1 Amendment. The Corporation, acting through its Board or the Board’s designee,
may at any time amend, modify, or suspend the Plan, in whole or in part, by an instrument in
writing, executed by the Board or its designee; provided, however that no amendment,
modification, or suspension shall reduce the accrued benefit of any Participant. Notwithstanding
the foregoing, the Corporation may, in its sole discretion and without the Participant’s consent,
modify or amend the terms of the Plan, or take any other action it deems necessary or advisable,
to cause the Plan to comply with Code section 409A (or an exception thereto).
7.2 Termination. The Corporation, acting through its Board or the Board’s designee,
may at any time terminate this Plan, in whole or in part, by an instrument in writing executed by
the Board or its designee; provided, however that:
(a) No such termination shall reduce the accrued benefit of any Participant;
and
(b) Termination of the Plan shall not accelerate the time of payment of
benefits hereunder, nor cease the accrual of Deemed Earnings, unless the Corporation, by
action of its Board or designee, shall elect to accelerate the payment of all benefits at the
time it terminates the Plan, and such acceleration is permitted under Code section 409A
or other applicable law.