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Article V shall be reduced by the paid up values of any amouats
which were vested in him on his ter~ination of employment. .
ARTIQ~E IV
APPLICA~'L~1~ FORM APID PROVISIONS OF POI.ICIES
4.01 The benefits required under this truat shall be
provided by policies on the life of the Participant. Such policies
shall provide for a single premivm at Normal Retirement Date to
provide the retirement benefits. Sach policy shall be a contract
between the Insurer and the Trustees.
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4.02 The Policies issued tmder Section 4.01 shall provide €
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for the following: ~ ~
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(a) Oa and after the Participant's retire~ment date, incame ~
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shall be payable in accordsnce with the direction of
the Trustees given prior to the first payment. _
(b) The right to name and to change the Beneficiary and
to select and change the method of settlement shall
be exercised by the Trustees sub3 ect to the direction
of the Participant. The Trustees may require the
Participant to sign appropriate documents to direct
the Trustees to make such provisions effective 8nd
the Truatees shall make such changes effective on
the Policies.
~c) Each Policy shall reserve to the Trustee all- rigl~ts,
options, and benefits provided by the Rilicy or per-
mitted by the Insurer including the right to change
the provisions to be operative on the death of a
Participant. The signature of the Participant shall
not be necessary for the euercise of any auch right,
but the Trustees agree not to exercise any such right
except in accordance with the provisions of the trust.
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