Big Lots 2013 Annual Report Download - page 136

B-12
12.03. Review Procedure. If a claim has been wholly or partially denied, the affected claimant, or such
claimant’s authorized representative, may:
(a) Request that the Committee reconsider its initial denial by filing a written appeal within
sixty (60) days after receiving written notice that all or part of the initial claim was
denied;
(b) Review pertinent documents and other material upon which the Committee relied when
denying the initial claim; and
(c) Submit a written description of the reasons for which the claimant disagrees with the
Committee’s initial adverse decision.
An appeal of an initial denial of benefits and all supporting material must be made in writing
within the time periods described above and directed to the Committee. The Committee is
solely responsible for reviewing all benefit claims and appeals and taking all appropriate steps to
implement its decision.
The Committee’s decision on review will be sent to the claimant in writing and will include
specific reasons for the decision, written in a manner calculated to be understood by the claimant,
as well as specific references to the pertinent Plan provisions, rules, procedures or protocols upon
which the Committee relied to deny the appeal. The Committee will consider all information
submitted by the claimant, regardless of whether the information was part of the original claim.
The decision will also include a statement of the claimant’s right to bring an action under ERISA
§502(a).
The Committee’s decision on review will be made not later than sixty (60) days after his or her
receipt of the request for review, unless special circumstances require an extension of time for
processing, in which case a decision will be rendered as soon as possible, but not later than one-
hundred-twenty (120) days after receipt of the request for review. This notice to the claimant will
indicate the special circumstances requiring the extension and the date by which the Committee
expects to render a decision and will be provided to the claimant prior to the expiration of the
initial period.
To the extent permitted by law, the decision of the Committee will be final and binding on all
parties. No legal action for benefits under the Plan will be brought unless and until the claimant
has exhausted such claimant’s remedies under this Section 12.01.
13. SECTION 409A
13.01. It is intended that the Plan comply with IRC section 409A and the Treasury Regulations
promulgated thereunder, and the Plan will be interpreted, administered and operated accordingly.
Nothing herein shall be construed as an entitlement to or guarantee of any particular tax
treatment to a Participant, and none of the Company, its Affiliates, the Board or the Committee
shall have any liability with respect to any failure to comply with the requirements of IRC
section 409A and the Treasury Regulations promulgated thereunder.
13.02. The Company may accelerate the time or schedule of a distribution to a Participant at any time
the Plan fails to meet the requirements of IRC section 409A and the Treasury Regulations
promulgated thereunder. Such distribution may not exceed the amount required to be included in
income as a result of the failure to comply with IRC section 409A and the Treasury Regulations
promulgated thereunder.