AMENDMENT NO. 2 TO THE
EL PASO CORPORATION
2005 SUPPLEMENTAL BENEFITS PLAN
WHEREAS, El Paso
Corporation (the “Company”) maintains the El Paso
Corporation 2005 Supplemental Benefits Plan (the
“Plan”), effective as of January 1, 2005;
and
WHEREAS,
Section 6.7 of the Plan permits the Management Committee to
amend the Plan, subject to certain limitations set forth therein;
and
WHEREAS,
consistent with its delegated authority, the Management Committee
desires to amend the Plan to correct a scrivener’s error, to
simplify the crediting of supplemental RSP matching contributions,
and to add claims procedures.
NOW, THEREFORE,
the Plan is amended, effective as of the dates set forth below, as
follows:
1. Effective
January 1, 2005, Section 4.1 is hereby amended in its
entirety to correct a scrivener’s error with respect to the
designation of eligible participants, as follows:
“
Section 4.1 Participants
The Management
Committee shall determine and designate the officers and key
management employees of an Employer who are eligible to become
Participants and receive benefits under the Plan. Each Participant
must be a selected management or highly compensated
employee.”
2. Effective
January 1, 2009, the first sentence of the second paragraph of
Section 5.2 is hereby amended to read as follows:
“From time
to time, as determined by the Management Committee, the Company
shall allocate amounts equal to such additional Employer matching
contributions to a ledger account for the
Participant.”
3. Effective
January 1, 2008, a new Section 6 shall be added to the
Plan, and the prior Section 6 “General Provisions”
shall be renumbered as Section 7. The new Section 6 shall
hereby read as follows:
“
Section 6 Claims Procedure
Claims for
benefits shall be administered in accordance with the procedures
set forth in this Section 6 and any additional written
procedures that may be adopted from time to time by the Management
Committee.
A claim for
benefit payment shall be considered filed when a written request is
submitted to a Claims Administrator in the corporate human
resources office. The Claims Administrator shall respond to a claim
in writing or electronically. An authorized representative may act
on behalf of a Participant or Beneficiary (hereinafter
“Claimant”) who claims benefits.
The Management
Committee shall designate one or more persons on the
Company’s human resource staff as “Claims
Administrator(s)” and authorize such individuals to make
claims determinations.
Any time a
claim for benefits is wholly or partially denied, the Claimant
shall be given written notice or electronic notice of such action
within 90&n
