Exhibit A
Case 2:04-cv-00424-ROS
Document 314-2
Filed 11/01/2007
Page 1 of 4
LEGAL NOTICE
IF YOU WERE A PARTICIPANT IN THE RETIREMENT PLAN FOR EMPLOYEES OF THE GARRETT CORPORATION AND ITS PARTICIPATING SUBSIDIARIES, AND A PARTICIPANT IN THE SEVERANCE PLAN FOR EMPLOYEES OF THE GARRETT CORPORATION AND ITS PARTICIPATING SUBSIDIARIES ON DECEMBER 31, 1983, A PROPOSED CLASS ACTION SETTLEMENT MAY AFFECT YOUR RIGHTS.
A federal court has authorized this Notice. The Court in charge of the case is the United States District Court for the District of Arizona. The case is entitled Allen v. Honeywell Retirement Earnings Plan, case number CV040424 PHX ROS. What is this About? The lawsuit claims that Defendants violated the federal pension law known as the Employee Retirement Income Security Act ( ERISA ) and the terms of the Garrett Retirement and Severance Plans and applicable successor plans. The parties have reached a Partial Settlement of this lawsuit that resolves all but three of the claims against the Defendants. Defendants have denied and continue to deny all claims in this lawsuit and contend that the plans fully comply, and at all times have complied, with all legal requirements. Who is Included? If you were a former Participant or Beneficiary in the Garrett Retirement Plan and the Garrett Severance Plan who (i) became a vested participant in the Signal Retirement Plan and the Garrett Secured Benefit Account, (ii) is, was or may become eligible for benefits under the Signal Retirement Plan, the Allied Signal Retirement Program and/or the Retirement Plan, (iii) was alive on July 1, 2002, or had a surviving Beneficiary who was alive on July 1, 2002; and (iv) is or was receiving or is or was entitled to receive survivor benefits after June 30, 2002, you are included in the Settlement Class. To obtain any additional pension benefits as described below you must submit a timely Claim Form. In addition, if you were a participant in the Garrett Severance Plan and became a vested participant in the Garrett Secured Benefit Account in the Signal Companies, Inc. Savings Plan but do not otherwise meet the definition above (e.g., you had no vested right to benefits under the Signal Retirement Plan and the Garret Retirement Plan) your rights may be affected by the Partial Settlement but there is no need to file a Claim Form. What does the Settlement Provide? As part of the Partial Settlement, Defendants have agreed to amend the Retirement Plan to provide for additional pension benefits and to pay attorneys fees with a total value of Thirty Five Million Dollars ($35,000,000) plus other valuable relief. Class Counsel has requested the Court to award attorneys fees and expenses in the amount of twenty five percent of the recovery (25%) which is Eight Million, Seven Hundred And Fifty Thousand Dollars ($8,750,000). You must submit a Claim Form to obtain additional benefits. Regardless of whether you complete and return a Claim Form and obtain additional benefits, the Partial Settlement releases all claims that were asserted or could have been asserted by or on behalf of one or more of the Settlement Class members, except for the Three Remaining Claims or attorneys fees and costs for litigation of the Three Remaining Claims or the individual claims of a participant involving an Individual Mistake . How do I Submit a Claim?
Case 2:04-cv-00424-ROS
Document 314-2
Filed 11/01/2007
Page 2 of 4
If you believe that you are a Settlement Class member and wish to receive additional pension benefits pursuant to the Partial Settlement, you must complete and return a Claim Form, postmarked no later than __________________. The Claim Form must be submitted to the following address: Class Counsel c/o Claims Administrator PAddress 1 City, State Zip If you have not already received a Claim Form, you may obtain one and a more detailed notice by calling the Claims Administrator at 800-000-0000 or by writing to them at the address above. You may also obtain a Claim Form from the following website: www.garrettaction.com. Completed Claim Forms must be postmarked on or before _________________. If you do not complete and timely return a Claim Form, you will not be entitled to receive any additional benefits pursuant to the Partial Settlement, but you will still be bound by the Partial Settlement.. Can I Object to the Settlement? The Court will hold a hearing on _______________, 2008 at _______, __.m. at the United States District Court for the District of Arizona, 401 W. Washington St., Phoenix, Arizona, 85003-2118 in Courtroom 604 for the purpose of determining whether the Partial Settlement should be approved by the Court as fair, reasonable and adequate; (2) whether, the Released Claims should be dismissed with prejudice as set forth in the Settlement Agreement; (3) whether the plan of allocation is fair, reasonable, and adequate and therefore should be approved; (4) whether the application of Class Counsel for the payment of attorneys fees and reimbursement of expenses should be approved; and (5) whether the release provided for in the Settlement Agreement should be approved as fair, reasonable, and adequate to the Settlement Class and the Defendants. You may object to the proposed Partial Settlement or the application for attorneys fees and costs. You may attend the hearing on the Partial Settlement in person or have a lawyer attend the hearing on your behalf at your own expense. To object, you must file a written objection with the Clerk of the Court on or before ___________, 2008. While you are allowed to attend the hearing whether or not you file an objection, you will not be permitted to address the court at the hearing unless you file a written objection. Copies of any objection must be mailed to the following: Attorneys for Plaintiffs and Settlement Class members:Susan Martin, Esq.Martin & Bonnett, P.L.L.C.3300 North Central Avenue, Suite 1720Phoenix, AZ 85012-2517 Attorneys for Defendants:Howard Shapiro, Esq.Proskauer Rose LLP909 Poydras Street, Suite 1100New Orleans, LA 70112 Where can I get more Information? This Notice is only a summary of the Partial Settlement. The complete details of the Partial Settlement are set forth in the parties agreement, which has been filed with the Court. You may obtain copies of the detailed Class Notice by writing to Class Counsel at the above address. DO NOT CALL THE COURT. Any questions you have concerning this Notice should be directed in writing to: Class CounselMartin & Bonnett, P.L.L.C.3300 N. Central Ave., Suite 1720Phoenix, Arizona You may also listen to the answers to frequently asked questions by calling the following toll-free number: 800-000-0000. Additional information is also available through the Garrett Retirees Action Committee website, www.GarrettAction.com. The Court does not endorse any of the information contained on this website.
Case 2:04-cv-00424-ROS
Document 314-2
Filed 11/01/2007
Page 3 of 4
800-000-0000
www.GarrettAction.com
Case 2:04-cv-00424-ROS
Document 314-2
Filed 11/01/2007
Page 4 of 4