401(k) Plan - My Lowe's Life

Claims ProcedureIf your claim for benefits is wholly or partially denied, theAdministrative Committee will notify you in writing of thedenial within 90 days of the date on which the Committeeinitially received your claim. The Committee is entitled toextend this deadline an additional 90 days if specialcircumstances so require. If you disagree with the denial, youcan appeal the decision by following the review procedures setforth below. You are required to utilize fully and timely thePlan’s administrative procedures for reviewing claims as aprerequisite to bringing legal action for benefits in a court oflaw.In its written notice of the denial of your claim for benefits, theAdministrative Committee will advise you of:• The specific reason or reasons for denial;• The specific provisions of the Plan on which the denial wasbased;• Any additional material or information necessary for you toprocess your claim and an explanation of why such materialor information is necessary; and• An explanation of the claims review procedures for thePlan, the time limits under the procedures and a statementregarding your right to bring a civil action underSection 502(a) of ERISA following an adverse benefitdetermination on appeal.Review of Denied ClaimIf your claim for benefits has been denied, you have theopportunity to file a written request for a full and fair review ofyour claim by the Administrative Committee, to provide forreview all documents relating to your claim, and to submit awritten statement regarding your claim. You must file thiswritten request for a review of your claim within 60 days afteryour receipt of the written notification from the AdministrativeCommittee denying your claim.The Committee usually will make a decision within 60 daysafter it receives your request for review. However, if there arespecial circumstances (such as the need to hold a hearing) thatrequire an extension of time for completing its review, theCommittee can extend this period for up to an additional 60days. The Committee’s decision on your request for a reviewwill be in writing and will include:• The specific reasons for the denial;• The specific Plan provisions on which the denial is based;• A statement that you are entitled to receive, upon requestand free of charge, reasonable access to and copies of alldocuments, records, and other information relevant to yourclaim; and• A statement of your right to bring an action underSection 502(a) of ERISA.Federal Pension BenefitInsuranceThe benefits provided by the Plan are not insured by thePension Benefit Guaranty Association (PBGC). The PBGCinsures certain benefits under defined benefit plans in the eventof a plan termination. This Plan is a defined contribution planand therefore is not insured by the PBGC.Amendment orTermination of Plan∗Lowe’s (and, under certain circumstances, the AdministrativeCommittee) reserves the right to amend or terminate the Plan atany time in the future. No amendment may retroactivelyreduce your vested rights.If the Plan is terminated and you are affected by thetermination, you will remain 100% vested in your accountunder the Plan. In that event, Lowe’s will decide whether yourbenefits will be distributed immediately or whether distribution∗Specific portions of this document, designated with an asterisk (*), constitutepart of a prospectus covering securities that have been registered under theSecurities Act of 193316