Article IV, Section 20
Section 20. Erroneous Payments. This Section applies
to any recipient (including a Participant, spouse, Beneficiary or any other
person) of a payment to which he is not entitled under the terms of the Plan,
either because of failure to retire as described in Section 6, an error in computing
the benefits payable hereunder, or any other reason. As determined by the Directors,
or its delegate, any such mistaken payment shall be recaptured by (1) prompt
repayment by the recipient (or his estate or beneficiary) of the erroneous payments
or (2) reduction in the amount of future payments from the Plan to the recipient
(or a spouse or beneficiary of such recipient). To the extent determined in
the discretion of the Directors, or its delegate, and consistent with the applicable
law, any reduction in future payments and/or repayments shall include an interest
factor reflecting the delay in repayment and any reduction in future payments
shall be made in the form of an actuarial reduction to future payments.
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