Glossary of Terms

Alternative Dispute Resolution ("ADR") Procedures - Pursuant to Sections 7.8 and 7.10 of the CRP, the Trust established Alternative Dispute Resolution ("ADR") procedures. In accordance with those sections, if the Trust rejects an IRC or DCP claim, or if the claimant rejects an IRC final settlement amount, a claimant may pursue his/her claim further through the ADR. To initiate ADR, the claimant must make a written request to the Trust.

Asbestos - Asbestos is a natural fibrous material mined from serpentine rock. This rock is crushed and fibrous strands of asbestos are extracted from the rock. The strands are then used as ingredients in insulation, ceiling tiles, and other materials.

Asbestosis (ASB) - A chronic lung disease resulting from irreversible fibrosis of the lung tissue due to asbestos exposure. It is characterized by diffuse interstitial fibrosis (scar tissue formation). The onset of the disease is gradual, developing over a period of 10 to 30 years. Symptoms include cough, exertional breathlessness, increased susceptibility to respiratory infections, crackling rales in the lower part of the lungs, and digital clubbing. Asbestosis can also be characterized as Disabling Bilateral Interstitial lung disease or Non-Disabling Bilateral Interstitial lung disease on an IRC claim.

Bar Date - The deadline date established by the Bankruptcy Court to file a Proof of Claim, March 15, 1996.

Bilateral Pleural Disease (BPD) - A non-malignant disease caused by inhalation of asbestos fibers and scars the pleura.

Certificate of Official Capacity (COC) - The purpose of the COC is to verify that the personal representative has the authority to file a claim on behalf of the injured party.

Check Issued - The claim settlement check is issued.

Claim Closed - The claim is paid and the settlement check has cleared.

Claims Resolution Procedures - The Claims Resolution Procedures are designed to provide prompt payment to valid Asbestos Personal Injury Claims and provide reasonable assurance that the Trust will value and be in a financial position to pay similar and present Asbestos Injury Claims and Future Asbestos Injury demands in substantially the same manner.

Claimant - The individual or law firm who filed the claim.

Contact Person - A designated person who is not the personal representative but can obtain information from the Trust on a specific claim.

DCP Claim - Defined as Discounted Cash Payment. The DCP election is designed primarily for claimants who easily can be determined by the Trust to have valid Asbestos Personal Injury Claims and who desire to have a fixed and certain payment made expeditiously rather than wait for individualized review. The DCP method allows claimants to elect a single, cash payment that will be paid rapidly and requires a less burdensome application process for pursuing claims.

Deferral - An option when filing a claim that is pressing against a statute of limitation, but the claim is not ready to review because it is missing necessary documentation.  Deferral works as a placeholder for the claim in the Trust's review queue. The claimant may later choose any available filing or payment option.

Deficiency Code - The codes generated to send notices.

Duplicate Claim - A "duplicate" is a claim received by the Trust that matches another claim for the same injured party, which already appears in the Celotex database. The Trust can process only one claim per injured party for a single injury. Duplicate claims are placed on administrative hold until the issue is resolved.

Exigent Claim - A claim qualifies as an Exigent Health claim if it proves to be a Mesothelioma and the claimant was alive when the claim was filed. It may also qualify if a physician has diagnosed the claimant as having an asbestos-related illness and a declaration or affidavit is made under penalty of perjury by a physician who has examined or treated the claimant within one hundred twenty (120) days of the date of the declaration or affidavit in which the physician states there is substantial medical certainty that the asbestos-related disease is terminal.

External Claim Audit - The Trust is governed by the Second Amended and Restated Asbestos Personal Injury Claims Resolution Procedures (the "CRP"). Section 7.3 of the CRP requires that the Trust perform an external audit of the exposure information and medical proof submitted to the Trust.

Extract Deficiencies Report – Lists of deficiency information in a spreadsheet format to download or print.

Foreign Claim - A claim containing any exposure that occurred outside of the US Territories.

Group Check Payment Option - The Trust offers law firms the option to receive settlement funds in one monthly aggregate, referred to as group checks.

ILO - The acronym stands for International Labor Organization. For the Trust's purposes, it refers to the system for classifying chest x-rays. The system provides a simple method for evaluating chest x-rays with abnormalities caused by the inhalation of all types of dust, including asbestos. The ILO refers to the severity of fibrosis found by the chest x-ray, with 0/0 being a normal x-ray and 3/4 indicating the most severe interstitial disease (generally, injured persons with ASB have an ILO between 0/1 and 1/2).

Indirect Claim - A claim filed by another entity based on a verdict, judgment or settlement obtained by a claimant who filed or may file a claim with the Trust. The indirect claimant is seeking payment from the Trust by asserting a theory of contribution.

Injured Person/Party - The individual who was directly injured due to exposure to asbestos.

Intake Deficient - When a claim is missing basic Intake information, such as a Social Security number or an alleged injury.

IRC Claim - Defined as Individualized Review Claim. The IRC is designed for claimants with serious or fatal asbestos-related injuries whose bodily injury claims (asbestos personal injury claims) require the added effort and expense of individualized evaluation. The individualized review provides a claimant with an individual consideration and evaluation of his or her claim.

Liquidated Value - The value paid at the current payment percentage times the gross settlement value (IRC claim only).

Lung Cancer - A malignancy frequently related to asbestos exposure. There are three major cell types - adenocarcinoma, squamous cell, and oat cell. Adenocarcinoma is somewhat more prevalent in people exposed to asbestos. Asbestos exposure combined with cigarette smoking greatly increases the risks of lung cancer.

Maximum Value - The highest value awarded to only those claims with the most serious injuries and severe exposure to Celotex and/or Carey Canada asbestos products (IRC claim only).

Mesothelioma (Meso) - A malignant tumor of the pleura, the peritoneum, or the pericardium. There may be a long latency period (up to 40 years) between initial asbestos exposure and diagnosis of the disease. There is no known cure and the disease is generally fatal within one to two years of diagnosis. Approximately 90% of mesothelioma cases have had recognized exposure to asbestos.

Notice of Last Day to File - Document sent to all persons who asserted that they were or may have been exposed to asbestos products and have manifested or may manifest an asbestos related injury. This document notified the claimant to file a Proof of Claim by the Bar Date of March 15, 1996.

Offer Issued - Status of a claim which means the release was mailed to the claimant for settlement.

Option Change - When the claimant wishes to change the claim type.

Other Cancers (OCA) - Other cancers associated with asbestos exposure include colorectal cancer, esophageal cancer, laryngeal cancer, pharyngeal cancer, and stomach cancer.

Past Trial Date - The trial date provided on the claim form has passed without the Trust being notified of the outcome of the trial.

Payment Percentage - The percentage of full liquidated value that all present and future claims are likely to receive for IRC claims, subject to review and recalculated by the Trustees on an annual basis.

Pending - A claim that has been created online and submitted to the Trust. A pending claim has been assigned a claim number and is awaiting review.

Pericardium - The membranous sac filled with serous fluid that encloses the heart and the roots of the aorta and other large blood vessels.

Peritoneal - The serous membrane that lines the walls of the abdominal cavity and folds inward to enclose the viscera.

Personal Representative - The person recognized, through a legal document, as the representative of the injured person's claim.

Pre-Bankruptcy Claim - A claimant filed a lawsuit prior to Celotex filing bankruptcy in October 1990.

Processed Claim - A claim that has been received by the Trust, assigned a claim number, and is either approved for payment or awaiting more information to meet the Trust's criteria.

Proof of Claim (POC) - The document required by the Bankruptcy court for all persons who asserted bodily injury claims. This helped to identify the extent of the bodily Injury claims against Celotex Corporation / Carey Canada Inc. in order to maximize the funds available for legitimate claims. The POC was required to be received by the Bankruptcy Court on or before March 15, 1996.

Release - The document sent to a claimant offering settlement of the claim. If the claimant accepts the offer, the release must be signed and returned to the Trust. When the release is received, it is verified for completeness.

Release Deficiency - The returned release is missing basic information, such as required signatures, and a letter is sent to the claimant advising of the deficiency.

Release Pending - The completed release was received but information is missing. The Trust is awaiting the missing information before the release can be processed further.

Release Received - The returned release is pending verification of completeness.

Representation Issues - An injured party can have only one representative. More than one creates a representation issue and the claim is placed on an administrative hold.

Review - The claim is in the review process.

Review Deficient - When a claim is missing information that is required by the Trust to confirm it either medically or for exposure, such as an unacceptable diagnosis or no occupation listed.

Scheduled Value – The values established during bankruptcy proceedings for each disease category with similar injuries and exposure. These values reflect the average tort litigation values and the amounts paid historically by Celotex and Carey Canada as compensatory damages (IRC claim only).

Statute of Limitations - Deadline for filing a claim with the Trust based on the claimant's applicable jurisdiction.

Summary Deficiency Report - Lists number of claims with deficiencies selected.

Trial Date - A claim with a scheduled trial date in which a jury has been selected.

Trust Advisory Committee (TAC) - The Trustees shall consult with the TAC on the issues of the Trust Agreement.

Trustees - The Trustees shall implement and administer the Claims Procedures in accordance with the Trust Agreement.

Upgrade – When the claimant wishes to change the claim type from a DCP to an IRC.