Common use of DRAFTING ERRORS Clause in Contracts

DRAFTING ERRORS. If, due to errors in drafting, any Plan provision does not accurately reflect its intended meaning, as demonstrated by consistent interpretations or other evidence of intent, or as determined by the Plan Administrator in its sole and exclusive judgment, the provision shall be considered ambiguous and shall be interpreted by the Plan Administrator and all Plan fiduciaries in a fashion consistent with its intent, as determined in the sole and exclusive judgment of the Plan Administrator. The Plan Administrator shall amend the Plan retroactively to cure any such ambiguity.

Appears in 2 contracts

Sources: Separation Agreement (Nitromed Inc), Severance Agreement (Nitromed Inc)

DRAFTING ERRORS. If, due to errors in drafting, any Plan provision does not accurately reflect its intended meaning, as demonstrated by consistent interpretations or other evidence of intent, or as determined by the Plan Administrator in its sole and exclusive judgment, the provision shall be considered ambiguous and shall be interpreted by the Plan Administrator and all Plan fiduciaries in a fashion consistent with its intent, as determined in the sole and exclusive judgment of the Plan Administrator. The Plan Administrator Company shall amend ensure the Plan is amended retroactively to cure any such ambiguity.

Appears in 1 contract

Sources: Executive Severance Plan (Principal Financial Group Inc)