7.1. Administrator’s Powers. The Administrator shall have full discretionary power to administer the Plan in all of its details. Benefits under the Plan shall be paid only if the Administrator determines, in the sole discretion of the Administrator, that the applicant is entitled to them.
7.2 Administrator’s Discretion. For purposes of exercising the powers and responsibilities granted to the Administrator under the Plan, the Administrator’s powers shall include, but shall not be limited to, the following discretionary authority:
(a) to make and enforce such rules and regulations (which shall be binding on employees, Overseas Managers, Participants, Beneficiaries and other persons) as the Administrator deems necessary or proper for the efficient administration of the Plan or as required to comply with applicable law;
(b) to interpret and enforce the Plan in accordance with the terms of the Plan (including the rules and regulations adopted under Section 7.2(a)) and to make factual determinations thereunder, including the discretionary power to determine the rights and eligibility of Overseas Managers, Participants, Beneficiaries and any other persons, and the amount, if any, of their benefits under the Plan, and their vested interest, if any, in any benefits under the Plan, and to construe or interpret disputed, ambiguous, or uncertain terms;
(c) to compute benefit amounts under the Plan, to determine vested interests, to determine the person or persons to whom such amounts are to be distributed, to establish the currency (if other than U.S. Dollars) in which benefits are payable and the method and basis on which such currency conversion shall be made, and to make equitable adjustments for mistakes or errors or to prevent duplication of benefits;
(d) to authorize the payment of benefits and to compromise and settle any disputed claims;
(e) to keep such records and submit such filings, elections, applications, returns or other documents or forms as may be required under any applicable laws or regulations;
(f) to allocate and delegate the duties and responsibilities of the Administrator and to appoint such agents, counsel, accountants, consultants, actuaries, insurance companies and other persons as may be required or desired to assist in administering the Plan;
(g) to furnish each employer, tax advisor, or other person with such information and data as may be required by it for tax and other purposes in connection with the Plan;
(h) to vary the terms of the Plan in individual cases; provided, however, that no such variation shall reduce any Retirement Benefits accrued prior to the date the variation is made; and provided, further, that no such variation shall violate any applicable nondiscrimination laws; and
(i) to take all action in connection with administration of the Plan as deemed necessary or advisable by the Administrator.
7.3 Delegation. To the extent permitted under applicable law, the Administrator may delegate the Administrator’s power, authority and responsibilities under the Plan to one or more officers