dies before the date distributions begin, the Member’s surviving spouse is the Member’s sole designated beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving spouse under Paragraph 8.9(b)(2)(A), this Paragraph 8.9(d)(2) will apply as if the surviving spouse were the Member.
12. By substituting the following for Section 10.6 of the Plan (as previously amended by the plan governance amendment adopted April 18, 2000):
| “10.6 | Claims Procedure for Claims Made On and After January 1, 2002 |
(a) Definitions. For purposes of this Paragraph 10.6, the following words or phrases in quotes when capitalized will have the meaning set forth below:
(1) “Adverse Benefit Determination” means a denial, reduction or the termination of, or a failure to provide or make payment (in whole or in part) with respect to a Claim for a benefit, including any such denial, reduction, termination, or failure to provide or make payment that is based on a determination of a Member’s or beneficiary’s eligibility to participate in the Plan.
(2) “Claim” means a request for a benefit or eligibility to participate in the Plan, made by a Claimant in accordance with the Plan’s procedures for filing Claims, as described in this Paragraph 10.6. For this purpose, an inquiry or request for reconsideration made under the Plan’s established administrative procedures will not constitute a Claim.
(3) “Claimant” is defined in Paragraph 10.6(b)(2).
(4) “Disability Claim” means a Claim for a disability-based benefit under the Plan.
(5) “Notice” or “Notification” means the delivery or furnishing of information to an individual in a manner that satisfies applicable Department of Labor regulations with respect to material required to be furnished or made available to an individual.
(6) “Relevant Documents” include documents, records or other information with respect to a Claim that:
(A) were relied upon by the Administrator in making the benefit determination;
(B) were submitted to, considered by or generated for, the Administrator in the course of making the benefit determination, without regard to whether such documents, records or other information were relied upon by the Administrator in making the benefit determination;
(C) demonstrate compliance with administrative processes and safeguards required in making the benefit determination; or
(D) constitute a statement of policy or guidance with respect to the Plan concerning the denied benefit for the Member’s circumstances, without regard to whether such advice was relied upon by the Administrator in making the benefit determination.
(b) Procedure for Filing a Claim. In order for a communication from a Claimant to constitute a valid Claim, it must satisfy the following paragraphs (1) and (2) of this paragraph (b).
(1) Any Claim submitted by a Claimant must be in writing on the appropriate Claim form (or in such other manner acceptable to the Administrator) and delivered, along with any supporting comments, documents, records and other information, to the Administrator in person, or by mail postage paid, to the address for the Administrator provided in the Summary Plan Description.
(2) Claims and appeals of denied Claims may be pursued by a Member or an authorized representative of the Member (each of whom will be referred to in this section as a “Claimant”). However, the Administrator may establish reasonable procedures for determining whether an individual has been authorized to act on behalf of a Member.
(c) Initial Claim Review. The initial Claim review will be conducted by the Administrator, with or without the presence of the Claimant, as determined by the Administrator in its discretion. The Administrator will consider the applicable terms and provisions of the Plan and amendments to the Plan, information and evidence that is presented by the Claimant and any other information it deems relevant. In reviewing the Claim, the Administrator will also consider and be consistent with prior determinations of Claims from other Claimants who were similarly situated and which have been processed through the Plan’s claims and appeals procedures within the past 24 months.
| (d) | Initial Benefit Determination. |
(1) The Administrator will notify the Claimant of the Administrator’s determination within a reasonable period of time, but in any event (except as described in paragraph (2) below) within 90 days after receipt of the Claim by the Administrator.
(2) The Administrator may extend the period for making the benefit determination by 90 days if it determines that such an extension is necessary due to matters beyond the control of the Plan and if it notifies the Claimant, prior to the expiration of the initial 90 day period,
of circumstances requiring the extension of time and the date by which the Administrator expects to render a decision.
(1) In the case of a Disability Claim, the Administrator will notify the Claimant of the Plan’s determination within a reasonable period of time, but in any event (except as described in paragraph (2) below) within 45 days after receipt of the Claim by the Administrator.
(2) The Administrator may extend the period for making the benefit determination by 30 days if it determines that such an extension is necessary due to matters beyond the control of the Plan and if it notifies the Claimant, prior to the expiration of the initial 45-day period, of circumstances requiring the extension of time and the date by which the Administrator expects to render a decision.
(3) The Administrator may extend the period for making the benefit determination by 30 days if it determines that such an extension is due to matters beyond the control of the Plan and if it notifies the Claimant, prior to the expiration of the first 30-day extension period, of the circumstances requiring the extension of time and the date by which the Administrator expects to render a decision.
(4) If such an extension is necessary due to a failure of the Claimant to submit the information necessary to decide the Claim, the Notice of extension will specifically describe the required information, the Claimant will be afforded at least 45 days from receipt of the Notice within which to provide the specified information, and the period in which the Administrator is required to make a decision will be tolled from the date on which the notification is sent to the Claimant until the Claimant adequately responds to the request for additional information.
(f) Manner and Content of Notification of Adverse Benefit Determination.
(1) The Administrator will provide a Claimant with written or electronic Notice of any Adverse Benefit Determination, in accordance with applicable Department of Labor regulations.
(2) The Notification will set forth in a manner calculated to be understood by the Claimant:
(A) The specific reason or reasons for the Adverse Benefit Determination;
(B) Reference to the specific provision(s) of the Plan on which the determination is based;
(C) Description of any additional material or information necessary for the Claimant to perfect the Claim and an explanation of why such material or information is necessary;
(D) In the case of a Disability Claim, if an internal rule, guideline, protocol or other similar criterion was relied upon in making the Adverse Benefit Determination, the Notice will either (a) set forth such specific rule, guideline, protocol or other similar criterion of the Plan that was relied upon; or (b) provide a statement that such rule, guideline, protocol or similar criterion was relied upon, and that a copy will be provided free of charge to the Claimant upon request;
(E) A description of the Plan’s review procedures and the time limits applicable to such procedures, including a statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA following an Adverse Benefit Determination on review.
(g) Procedure for Filing a Review of an Adverse Benefit Determination.
(1) Any appeal of an Adverse Benefit Determination by a Claimant must be brought to the Administrator within 60 days after receipt of the Notice of the Adverse Benefit Determination. Notwithstanding the foregoing, an appeal of a Disability Claim must be brought within 180 days after receipt of the Notice. Failure to appeal within such 60-day or 180-day period will be deemed to be a failure to exhaust all administrative remedies under the Plan. The appeal must be in writing utilizing the appropriate form provided by the Administrator (or in such other manner acceptable to the Administrator); provided, however, that if the Administrator does not provide the appropriate form, no particular form is required to be utilized by the Member. The appeal must be filed with the Administrator at the address listed in the Summary Plan Description.
(2) A Claimant will have the opportunity to submit written comments, documents, records and other information relating to the Claim.
| (h) | Review Procedures for Adverse Benefit Determinations. |
(1) The Administrator will provide a review that takes into account all comments, documents, records and other information
submitted by the Claimant without regard to whether such information was submitted or considered in the initial benefit determination.
(2) The Claimant will be provided, upon request and free of charge, reasonable access to and copies of all Relevant Documents.
(3) The review procedure may not require more than two levels of appeals of an Adverse Benefit Determination.
| (4) | Special rules for Disability Claims: |
(A) the review of the Adverse Benefit Determination will not afford deference to the initial determination made by the Administrator.
(B) the Administrator must designate an individual to conduct the review process who is neither the individual who made the Adverse Benefit Determination that is the subject of the appeal nor the subordinate of such individual.
(C) in deciding an appeal of any Adverse Benefit Determination that is based in whole or in part on a medical judgment, the Administrator will consult with a Health Care Professional who has appropriate training and experience in the field of medicine involved in the medical judgment. The Health Care Professional will be an individual who was neither consulted in connection with the Adverse Benefit Determination that is the subject of the appeal, nor the subordinate of any such individual.
(D) the Administrator will identify any medical or vocational experts whose advice was obtained on behalf of the Plan in connection with a Claimant’s Adverse Benefit Determination, without regard as to whether the advice was relied upon in making the benefit determination.
(i) Timing and Notification of Benefit Determination on Review. The Administrator will notify the Claimant within a reasonable period of time, but in any event within 60 days after the Claimant’s request for review, unless the Administrator determines that special circumstances require an extension of time for processing the review of the Adverse Benefit Determination. If the Administrator determines that an extension is required, written Notice will be furnished to the Claimant prior to the end of the initial 60-day period indicating the special circumstances requiring an extension of time and the date by which the Administrator expects to render the determination on review, which in any event will be within 60 days from the end of the initial 60-day period. If
such an extension is necessary due to a failure of the Claimant to submit the information necessary to decide the Claim, the period in which the Administrator is required to make a decision will be tolled from the date on which the notification is sent to the Claimant until the Claimant adequately responds to the request for additional information. Notwithstanding the foregoing, in the case of a Disability Claim, the Administrator will notify the Claimant within a reasonable period of time, but in any event within 45 days after the Claimant’s request for review, unless the Administrator determines that special circumstances require an extension of time for processing the review of the Adverse Benefit Determination. If the Administrator determines that an extension is required, written Notice will be furnished to the Claimant prior to the end of the initial 45-day period indicating the special circumstances requiring an extension of time and the date by which the Plan expects to render the determination on review, which in any event will be within 45 days from the end of the initial 45-day period. If such an extension is necessary due to a failure of the Claimant to submit the information necessary to decide the Claim, the period in which the Administrator is required to make a decision will be tolled from the date on which the notification is sent to the Claimant until the Claimant adequately responds to the request for additional information.
(j) Manner and Content of Notification of Benefit Determination on Review.
(1) The Administrator will provide a written or electronic Notice of the Plan’s benefit determination on review, in accordance with applicable Department of Labor regulations.
| (2) | The Notification will set forth: |
(A) The specific reason or reasons for the Adverse Benefit Determination;
(B) Reference to the specific provision(s) of the Plan on which the determination is based;
(C) A statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all Relevant Documents; and
(D) A statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA following an Adverse Benefit Determination on review.
| (k) | Collectively Bargained Benefits. |
(1) Where benefits are provided pursuant to a collective bargaining agreement and such collective bargaining agreement maintains or incorporates by specific reference: (i) provisions concerning the filing of a Claim for a benefit and the initial disposition of a Claim; and (ii) a grievance and arbitration procedure to which Adverse Benefit Determinations are subject, then Paragraph 10.6(c) through and including Paragraph 10.6(i) will not apply to such Claim.
(2) Where benefits are provided pursuant to a collective bargaining agreement and such collective bargaining agreement maintains or incorporates by specific reference a grievance and arbitration procedure to which Adverse Benefit Determinations are subject, then Paragraph 10.6(f) through and including Paragraph 10.6(i) will not apply to such Claim.
(l) Statute of Limitations. No cause of action may be brought by a Claimant who has received an Adverse Benefit Determination later than two years following the date of such Adverse Benefit Determination.”
14. | By substituting the following for Section 14.1(a) of the Plan: |
| “(a) | Key Employee means any Employee or former Employee (including any deceased Employee) who at any time during the Plan Year that includes the Determination Date was an officer of the Employer having annual compensation greater than $130,000 (as adjusted under § 416(i)(1) of the Code for Plan Years beginning after December 31, 2002), a 5-percent owner of the Employer, or a 1-percent owner of the Employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of § 415(c)(3) of the Code. The determination of who is a Key Employee will be made in accordance with § 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder.” |
15. By substituting the following for the second and third sentences of Section 14.1(c)(iii) of the Plan:
“The present values of accrued benefits and the amounts of account balances of an employee as of the determination date will be increased by the distributions made with respect to the employee under the Plan and any Aggregation Group Plan during the 1-year period ending on the Determination Date. The preceding sentence will also apply to distributions under a terminated plan which, had it not been terminated,
would have been aggregated with the Plan under § 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than severance from employment, death, or disability, this provision will be applied by substituting “5-year period” for “1-year period. The accrued benefits and accounts of any individual who has not performed services for the Employer during the 1-year period ending on the determination date will not be taken into account.”
16. By adding the following new sentences to the end of Section 14.2(e) of the Plan as a part thereof:
“Notwithstanding the foregoing, for Plan Years beginning on or after January 1, 2002, Employer matching contributions will be taken into account for purposes of satisfying the minimum contribution requirements of § 416(c)(2) of the Code and the Plan. The preceding sentence will apply with respect to matching contributions under the Plan or, if the Plan provides that the minimum contribution requirement will be met in another plan, such other plan. Employer matching contributions that are used to satisfy the minimum contribution requirements will be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of § 401(m) of the Code.”
| In all other respects, the Plan will remain in full force and effect. |
* * * * *
I, Donald Packham, Senior Vice President, Human Resources, of the Corporation, hereby approve and adopt the foregoing amendment to the Plan.
Dated this 31st day of December, 2002.
| ____________________________________ |
| Senior Vice President, Human Resources
BP Corporation North America Inc. | |
| | | | | |
AMENDMENT NO. 7
TO
BP CAPITAL ACCUMULATION PLAN
WHEREAS, BP Corporation North America Inc. (the “Corporation”) maintains the BP Capital Accumulation Plan (“the Plan”);
WHEREAS, the Plan has previously been amended and further amendment of the Plan is now considered desirable; and
WHEREAS, pursuant to the power delegated to a Designated Officer under the Plan, the Senior Vice President, Human Resources, as a Designated Officer of the Corporation, has the authority to amend the Plan;
NOW, THEREFORE, the Senior Vice President, Human Resources of the Corporation hereby amends the Plan, effective April 1, 2003, in the following particulars:
1. By adding the following new Section 4.10 to the end of Section 4 of the Plan as a part thereof:
| “4.10 | Matching Contribution on Return from Qualified Military Leave. |
If an Employee: (a) was absent from employment for qualified military service with the armed forces of the United States, (b) returns to employment after March 31, 2003 and within the period required by the Uniform Services Employment and Reemployment Rights Act of 1994, or any successor statute, and (c) was a Participant at the commencement of the qualified military leave, then following his return to employment with the Company, the Company will contribute to the Trust an amount determined under this Section 4.10 as a contribution to the Participant’s
Company Contribution Account as soon as administratively practicable following the Employee’s return from qualified military leave. The amount of the contribution will equal the maximum Company Contribution the Employee would have been entitled to under the Plan had the Employee not been on qualified military leave and been contributing to the Plan during the leave period at a rate which would have entitled the Employee to the highest possible Company Contribution, reduced by the Company Contribution actually made on behalf of the Employee during the leave period; provided, however, that no contribution made with respect to a year on behalf of a Participant may exceed the limitations under Section 415 of the Code applicable to the year to which the missed Company Contribution relates. The missed earnings to be considered for purposes of calculating the contribution under this Section 4.10 will be the Employee’s earnings as that term is defined under Section 414(u)(7) of the Code, reduced by the Earnings actually paid to the Employee during the leave period. The contribution under this Section will be in satisfaction of any amount otherwise required to be contributed by the Company pursuant to Section 414(u) of the Code.”
2. By substituting the following for Section 9.2.of the Plan:
A Participant who is an Employee will be eligible for a loan only to the extent: (a) the Participant will not be in default on the loan under Paragraph 9.9 immediately after the loan is made; and (b) in the case of a Participant who has previously defaulted on a loan (other than a Participant whose outstanding loan balance was repaid in full in
accordance with Section 9.10(c) or who received the defaulted loan in an actual (not deemed) distribution), the defaulted loan (plus interest accrued from the date of the default) has been repaid in full.”
3. By substituting the following for for subparagraph (i) of Section 9.8(c) of the Plan:
| “(i) | The loan may be repaid in full or in part at any time without |
| penalty.” | |
| | | | |
4. By substituting the following for Sections 9.9 and 9.10 of the Plan:
A Participant will default on a loan if any of the following events occurs:
| (a) | the Participant’s death; |
| (b) | the Participant’s failure to make the equivalent of one month’s payment of principal and interest on the loan; |
| (c) | the Participant misses less than one month’s repayment but the loan’s term cannot be extended to recover these repayments without extending its term beyond 5 years; |
| (d) | the Participant’s failure to perform or observe any covenant, duty, or agreement under the promissory note evidencing the loan; |
| (e) | receipt by the Plan of an opinion of counsel to the effect that (A) the Plan will, or could, lose its status as a tax-qualified Plan unless the loan is repaid or (B) the loan violates, or might violate, any provision of ERISA; |
| (f) | any portion of the Participant’s Account that secures the loan becomes payable to the Participant, his surviving Spouse or Beneficiary, an Alternate Payee, or any other person; or |
| (g) | the termination of the Plan. |
| (a) | If a default on a loan occurs, the Participant, the Participant’s estate, or any other person will have 90 days from the date of the default to pay the entire outstanding balance of the loan to the Plan or may elect to make one partial payment to the Plan to reduce the outstanding balance of the loan. Upon the death of the Participant, payment may only be made by certified check or such other means acceptable to the Administrator. |
| (b) | If full repayment does not happen under Section 9.10(a), the Participant’s nonforfeitable interest in his Account securing the loan will be applied immediately, to the extent lawful, when and to the extent the Participant’s Account is then available for withdrawal in accordance with the applicable provisions of the Plan, to pay the entire outstanding balance of the loan (together with accrued and unpaid interest). |
| (c) | Notwithstanding the foregoing, no portion of the Participant’s Elective Deferral Account, or other Accounts, which are not available to be withdrawn, will be withdrawn or applied to pay an outstanding loan before the date on which it is otherwise withdrawable under the Plan. In the event of a default and failure to repay under Section 9.10(a), the Administrator will direct the Trustee to report the unpaid balance of the loan (less amounts withdrawn under Section 9.10(b)) as a taxable distribution. To the extent that the Participant’s nonforfeitable interest in his Account securing the loan has not been applied under Section 9.10(b) to pay the entire outstanding balance of the loan (together with accrued and unpaid interest), (i) the loan may be repaid, (ii) the loan will be considered outstanding for purposes of Section 9.3 and (iii) any repayment will be allocated and posted to the Participant’s Member Contribution Account and treated as a Member Contribution (other than for purposes of Section 4). |
| (d) | Any failure by the Administrator to enforce the Plan’s rights with respect to a default on a loan will not constitute a waiver of such rights either with respect to that default or any other default.” |
In all other respects, the Plan remains in full force and effect.
* * * * *
I, Donald Packham, Senior Vice President, Human Resources, of the Corporation, hereby approve and adopt the foregoing amendment to the Plan.
| Dated this 17th day of April 2003.
________________________________ |
| Senior Vice President, Human Resources
BP Corporation North America Inc. | |
| | | | | |
AMENDMENT NO. 8
TO
BP CAPITAL ACCUMULATION PLAN
WHEREAS, BP Corporation North America Inc. (the “Corporation”) maintains the BP Capital Accumulation Plan (the “Plan”); and
WHEREAS, the Plan has previously been amended and further amendment of the Plan now is considered desirable; and
WHEREAS, pursuant to the power delegated to a Designated Officer under the Plan, the Senior Vice President, Human Resources, as a Designated officer of the Corporation, has the authority to amend the Plan; and
WHEREAS, in all other respects, the Plan, as amended, will continue in full force and effect.
NOW, THEREFORE, the Senior Vice President, Human Resources, of the Corporation hereby amends the Plan, in the following particulars:
1. Effective April 1, 2003 by substituting the following for the first sentence of Section 4.10 of the Plan:
“If an Employee: (i) was absent from employment for qualified military service with the armed forces of the United States on or after January 1, 2001, (ii) returns to employment with the Employer within the period required by the Uniformed Services Employment and Reemployment Act of 1994, or any successor statute, and (iii) was eligible to participate in the Plan at the commencement of the qualified military leave, then following his return to employment with the Employer, the Employer will contribute to the Trust an amount determined under this Section 4.10 as a contribution to the Participant’s Match Account and invested in the Company Stock Fund as soon as administratively practicable following the Employee’s return from qualified military leave.”
2. Effective December 31, 2003, by adding the following language to the end of Section 6.2 of the Plan as part thereof:
“In addition, the Plan Administrator reserves the right to take any and all actions he determines to be appropriate to minimize plan disruptions, and to protect the interest of all Plan Participants, including disruptions caused by excessive Participant trading or for any other reason. Such actions may include establishing redemption fees (and the terms and conditions thereof) or establishing rules which may operate to limit or restrict Participant rights under the Plan to effectuate transactions. The Plan Administrator may implement such actions without prior notice to Plan Participants.”
* * * * *
I, Donald Packham, Senior Vice President, Human Resources, of the Corporation, hereby approve and adopt the foregoing amendment to the Plan.
Dated this 23rd day of December, 2003
_______________________________________
Senior Vice President, Human Resources
BP Corporation North America Inc.
AMENDMENT NO. 9
TO
BP CAPITAL ACCUMULATION PLAN
WHEREAS, BP Corporation North America Inc. (the “Corporation”) maintains the BP Capital Accumulation Plan (the “Plan”);
WHEREAS, the Plan has previously been amended and further amendment of the Plan now is considered desirable; and
WHEREAS, pursuant to the power delegated to a Designated Officer under Section 16.1 of the Plan, the Senior Vice President, Human Resources, as a Designated Officer of the Corporation (or his delegee), has the authority to amend the Plan;
NOW, THEREFORE, the Senior Vice President, Human Resources (or his delegee), of the Corporation hereby amends the Plan, in the following particulars:
1. Effective August 9, 2004, by adding the following new sentence to the end of Section 1.3 of the Plan as a part thereof:
“Effective as of August 9, 2004, Annual Earnings shall include amounts classified as ‘Fire Brigade Pay’ paid to Eligible Employees covered by a collective bargaining agreement and employed at the Carson California Refinery.”
2. Effective January 1, 2005, by substituting the phrase “and invested in accordance with Section 6.3(a) of the Plan” for the phrase “and invested in the Company Stock Fund” in the first sentence of Section 4.10 of the Plan.
3. Effective January 1, 2005, by substituting the following for Section 6.3(a) of the Plan:
“(a) In accordance with procedures established by the Administrator, Matching Contributions shall be credited to the Member’s or Former Member’s Account in the proportion indicated by the Member or Former Member in his or
her investment directions provided to the Administer in accordance with Section 6.2 of the Plan. In the absence of an investment direction by the Member or Former Member, and subject to such rules as the Administrator may make, Matching Contributions shall be credited to the Short-Term Investment Fund. Short-Term Investment Fund means the investment option under the Plan designated as the Short-Term Investment Fund by the Administrator.”
* * * * *
I, Jeffery S. Heller, Assistant General Counsel of the Corporation, and delegee of the Senior Vice President, Human Resources, of the Corporation, hereby approve and adopt the foregoing amendment to the Plan.
Dated this 30th day of December, 2004.
____________________________________
Assistant General Counsel
BP Corporation North America Inc.
AMENDMENT NO. 10
TO
BP CAPITAL ACCUMULATION PLAN
WHEREAS, BP Corporation North America Inc. (the “Corporation”) maintains the BP Capital Accumulation Plan (the “Plan”);
WHEREAS, the Plan has previously been amended and further amendment of the Plan now is considered desirable;
WHEREAS, pursuant to the power delegated to a Designated Officer under the Plan, the President of the Corporation, as a Designated Officer of the Corporation, or his delegate, has the authority to amend the Plan; and
WHEREAS, in all other respects the Plan, as amended, will continue in full force and effect;
NOW, THEREFORE, the President of the Corporation, or his delegate, hereby amends the Plan, effective as of March 28, 2005, by adding the following new language to the end of Section 8.1(c) of the Plan as a part thereof:
“In the event of a mandatory distribution greater than $1,000 in accordance with the provisions of this Section 8.1(c), if the Participant does not elect to have such distribution paid directly to an eligible retirement plan specified by the Participant in a direct rollover or to receive the distribution directly in accordance with this Section 8.1(c), then the Plan Administrator will pay the distribution in a direct rollover to an individual retirement plan designated by the Plan Administrator.”
* * * * *
I, Jeffery S. Heller, Assistant General Counsel of the Corporation, and delegate of the President of the Corporation, hereby approve and adopt the foregoing amendment to the Plan.
Dated this 29th day of December, 2005.
____________________________________
Assistant General Counsel
BP Corporation North America Inc.
