Introduction
This Plan document is effective May 9, 2006, and is a summary of your benefits, rights and obligations under the LifePoint Hospitals, Inc. Change in Control Severance Plan (the ?Plan?). This document is intended to comply with both the summary plan description and the written plan requirements of the Employee Retirement Income Security Act of 1974 (?ERISA?) and the regulations issued under ERISA by the United States Department of Labor.
LifePoint Hospitals, Inc. (the ?Company?) may generally amend or terminate the Plan at any time prior to a ?change in control? (see definitions). For that reason, all statements in this document are subject to change at any time prior to a change in control without notice.
The Plan Administrator has the discretion to interpret the provisions of the Plan and make determinations for the payment of Plan benefits. All such determinations are final, binding and conclusive.
SECTION 1 In General
The Company has established the Plan with the intention of providing benefits to Eligible Employees of the Company and its Affiliates under the conditions described in this document. Plan benefits are intended to provide additional compensation to Eligible Employees whose positions are eliminated or adversely affected following a change in control of the Company. Therefore, the amount of your benefit is calculated without regard to your actual period of unemployment following a change in control, if any.
This document constitutes the entire written Plan. Any oral or other written expressions of the Plan or related to the Plan or its subject matter are completely superseded by this document. Except for a formal written Plan amendment that is properly adopted by the Company, or a written modification authorized under Section 9, any oral or written statements concerning the Plan shall not modify or add to this Plan document.
As is more fully explained in Section 4, severance benefits are not provided under this Plan if your employment termination is not connected with a Change in Control.
SECTION 2 Definitions
Defined terms in the Plan are indicated by initial capitalization of the term. References to a ?Section? mean a section of this Plan. Pronouns that refer to one gender include the other gender. ?You? or ?your? means you, an individual in the employ of the Company.
2.1 ?Administrator? or ?Plan Administrator? means a committee consisting of the Company?s chief executive officer, the secretary of the Company, the senior vice president of human resources, and any other individuals appointed by the chief executive officer. The Administrator may delegate any of its duties or authorities to any person or entity. The Administrator has absolute discretion to make all decisions under the Plan, including making determinations about eligibility for and the amounts of
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