MoneyGram 2005 Annual Report Download - page 120

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(ii) sixty (60) days after the Participant has exhausted these administrative procedures.
(b) These administrative procedures are the exclusive means for resolving any dispute arising under this Plan:
(i) no Participant or Beneficiary shall be permitted to litigate any such matter unless a timely claim has been filed under these administrative
procedures and these administrative procedures have been exhausted; and
(ii) determinations under these administrative procedures (including determinations as to whether the claim was timely filed) shall be afforded the
maximum deference permitted by law.
(c) For the purpose of applying the deadlines to file a claim or a legal action, knowledge of all facts that a Participant knew or reasonably should have
known shall be imputed to every claimant who is or claims to be a Beneficiary of the Participant or otherwise claims to derive an entitlement by
reference to the Participant for the purpose of applying the previously specified periods.
SECTION 11
PLAN ADMINISTRATION
11.1. Authority.
11.1.1. MGI. Functions generally assigned to MGI shall be discharged by its Chief Executive Officer, except where delegated and allocated as provided
herein.
11.1.2. Chief Executive Officer. Except as hereinafter provided, the Chief Executive Officer of MGI may delegate or redelegate and allocate and
reallocate to one or more persons or to a committee of persons jointly or severally, and whether or not such persons are directors, officers or employees, such
functions assigned to the Chief Executive Officer or to MGI generally hereunder, as the Chief Executive Officer may from time to time deem advisable.
11.1.3. Board of Directors. Notwithstanding the foregoing, the Board of Directors of MGI shall have the exclusive authority (which may not be delegated
except to a committee of the Board) to amend the Plan Statement and to terminate this Plan, based upon recommendation by the Human Resources
Committee. In addition, where necessary to comply with applicable corporate or securities law, or applicable rules of the New York Stock Exchange, the
Human Resources Committee shall have the exclusive authority to make determinations with respect to benefits under this Plan (e.g., with respect to
executive officers). -18-