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•The tax liability on your payout, •Your right to “roll over” your payout into another company’s similar plan or an IRA, and its effect on your taxes, •The capital gains tax treatment on your payout, and •Other tax rules that apply to the kind of payout you have chosen. •Spouse’s Consent If you are married and choose a beneficiary other than your spouse, both you and your spouse will have to sign a form indicating that you both agree to the beneficiary designation. Your spouse’s signature must be witnessed by an authorized Plan representative or by a notary public. •Disclaimer This publication is a summary of your Profit-Sharing Retirement Plan documents. We have tried to write this summary in clear, understandable and informal language. Please refer to the official Plan documents for more extensive information. In the event of any conflict between this booklet and the Plan documents, the Plan documents will govern. You are entitled to examine the Plan documents and the Plan annual report as soon as they are filed with the Secretary of Labor. These documents may be seen in the Plan Administrator’s (Profit-Sharing Committee) office. If you would rather have a copy of these documents, send a written request to the Plan Administrator. There will be a reasonable charge for copying. •Summary Annual Report and Plan Changes You will receive a summary of the annual report of the Plan once each year at no charge. As modifications to the Plan are made, you will also be notified. •ERISA Rights As a Plan member, you have certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). This section of your booklet summarizes the rights you have as a Plan member—rights that ERISA guarantees. We hope that this statement of your rights under ERISA will be helpful to you. •Plan Documents You may examine all of the Plan documents. These documents may be seen in your Personnel Manager’s office or the Plan Administrator’s office during normal working hours. These documents include the annual financial reports and the Plan descriptions that are filed with the U. S. Department of Labor. You may obtain copies of these documents by sending a written request to the Plan Administrator. There will be a charge to cover copying costs. •Accrued and Vested Pension Benefits Once a year you will receive a written statement of your account. It will be given to you free of charge. (See HOW WILL I KNOW THE VALUE OF MY ACCOUNT? on page 6.) •Responses to Your Request If you make a written request for material that is required to be given to you, you will receive the material within 30 days of your request. However, due to matters beyond our control (for example, if your request is lost in the mail), the requested material may reach you more than 30 days after your request. Please let us know if you do not receive the material requested within 30 days and we will send it to you again. •Plan Fiduciaries The Plan fiduciaries are responsible for the proper operation of the Plan. They act in your interest and must perform their duties in a responsible manner. •Exercising Your ERISA Rights The law provides that you will not be fired or discriminated against in any way for the sole purpose of preventing you from getting Plan benefits or to prevent you from exercising the rights you have as a Plan member under ERISA. •Benefit Claims and Legal Actions If you have any questions or problems concerning any of your benefits or about making an application for benefits, please contact your Personnel Manager or the Plan Administrator. In most cases, this is all you will have to do to get your question answered or problem solved. If your application for benefits is denied, the Plan Administrator will write to you explaining the reasons for the denial and telling you how you can appeal the decision. The appeals procedures are described on Page 7. After exhausting all of the remedies available to you through normal channels, you may go to court. If your appeal of a claim for benefits is denied and you believe you are entitled to the benefit claimed, you make take your case to federal or state court. If you discover that a Plan fiduciary is misusing the Plan’s money or if you are discriminated against for exercising your rights under ERISA, you may file suit in a federal court or ask the U.S. Department of Labor for help. If you make a written request for material required to be given to you and you do not receive the material within 30 days after your request, you may bring suit as long as there is no valid reason for the delay in getting the material to you. If you bring suit in federal or state court to protect any of the ERISA rights that have been discussed above, the court will decide who will pay court costs and legal fees. If you are successful, the court may ask that these costs and fees be paid by the losing party. On the other hand, if you are not successful, the court may ask you to pay these costs and fees. *********************************************** If you have any questions about this statement of your rights under ERISA, you should contact your Personnel Manager, the Plan Administrator or the nearest Area Office of the Labor-Management Services Administration, U.S. Department of Labor. Clinton Mills Inc. 600 Academy Street Clinton, South Carolina 29325 Tel. (803) 833-5500 Emp. Id. No. 57-0783443 Agent for service of legal process: The Profit-Sharing Committee Clinton Mills, Inc. 600 Academy Street Clinton, South Carolina 29325 IMPORTANT NAMES AND NUMBERS Participating Employers: Clinton Mills of Geneva, Inc. 400 West Promenade Geneva, Alabama 36340 Tel. (205) 684-2211 Emp. Id. No. 63-0729488 Elastic Fabrics of America, Inc. P.0. Box 21986 Greensboro, North Carolina 27420 Tel. (919) 275-9401 Emp. Id. No. 57-0783443 Plan Administrator: Henry T. Cronic Clinton Mills, Inc. 600 Academy Street Clinton, South Carolina 29325 Trustee: M. S. Bailey & Son, Bankers 211 N. Broad Street Clinton, South Carolina 29325 (Legal process may also be served on the Trustee) Plan fiscal year ends: December 31 Identification number of the Plan: 002 Tax Identification Number of Plan Sponsor: 57-0783443