Common use of Claims Procedure and Arbitration Clause in Contracts

Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to Executive (or to his Beneficiary in the case of Executive’s death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the administrator named above within thirty (30) days from the date payments are refused. The administrator and its Board of Directors shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing within thirty (30) days of receipt of such claim their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired.

Appears in 2 contracts

Samples: Supplemental Retirement Income Agreement (Brooklyn Federal Bancorp, Inc.), Executive Supplemental Retirement (Brooklyn Federal Bancorp, Inc.)

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Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to the Executive (or to his Beneficiary in the case of the Executive’s 's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the administrator named above Administrator within thirty sixty (3060) days from the date payments are refused. The administrator and its Board of Directors Administrator shall review the written claim and, if the claim is denied, in whole or in part, they it shall provide in writing writing, within thirty ninety (3090) days of receipt of such claim their claim, its specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based based, and any additional material or information necessary to perfect the claim. Such written notice writing by the Administrator shall further indicate the additional steps to which must be taken undertaken by claimants if a further an additional review of the claim denial is desired.

Appears in 2 contracts

Samples: www.sec.gov, www.sec.gov

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Claims Procedure and Arbitration. In the event that benefits under this Agreement are not paid to Executive (or to his Beneficiary in the case of Executive’s 's death) and such claimants feel they are entitled to receive such benefits, then a written claim must be made to the administrator named above within thirty (30) days from the date payments are refused. The administrator and its Board of Directors shall review the written claim and, if the claim is denied, in whole or in part, they shall provide in writing within thirty (30) days of receipt of such claim their specific reasons for such denial, reference to the provisions of this Agreement upon which the denial is based and any additional material or information necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired.

Appears in 2 contracts

Samples: Income Agreement (Brooklyn Federal Bancorp, Inc.), Income Agreement (Brooklyn Federal Bancorp, Inc.)

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