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Home My WebLink About0334 . r t ! q~.. . ' _ . . _ .s : • ~ ` ' ~ XV:2 The Employer reserves the right, throu~h action of its ~ Board of Directors~ to amend its Pla~ and Trust in any manner it detecmines necessary; provide~, however, that no a~endnent to this Plan and :rust shall :~epcive any Par~ticipant or Designated Beneficiary of any vested equitable interest herein nor shall such amend~aent increase the ~uties and.obliga~tions of the Trustee hereunder except with its consent. ':he ~mployer shall ~ have the right, through action of its Board of Di~ec- tors, to change any selections made in the Adoptio~ Agreement in such manner as way be necessary or ad- visable so that the Plan and Tcust nay be approved by the United States Treasury Department, under the rules and regulations promulgated by such ag.ency. In the event of a merger or consolidation of this Plan with another Plan, each Participant in this Pl~r. shall be vested in the retirement annuity accrued t:• the date of such merqer or consolidation and e~ch Farticipant . of this Plan shall have a benefit and int~rest after such merqer or consolidation, which are equal to or greater in amount than his cocresponding henefit and interest under thfs Plan immediately bef~re sucb ~er- gec or consoli~ation. ~ ~ XV:3 In the event oE termi~ation of this Plan and '~`rust, the Pension Cor~mittee shall allocate the as3ets ~nd ~ direct the Trustee to distribute such allocated asseta, subject to the provisions of the IRC, in accordance with the following provisions: (a} If the assets are sufficient to satisfy all the accrued benefits undec the Plan, the insurance contract or contracts held for each Participant shall be assigned, transfer~ed, and ~et over to each then living Participant and the funds in tt~e Prust Account shall be applied to provide the cetirement annuities accrued to date of ter~aination of the Plan and Trust in excess of the paid-vp retire~ent annuities made available under the insurance ' contract or contracts so transferred. If, after all liabilities of the Cr~ployer under this Plan and Trust are satisfied, and there is a balance remaining in the ?rust Account due to erroneous actuarial calcul3tians, such balance shall be ceturned to the C~aployez by the irustee. ~ -40- f ~ ~Q~ - c~.~; ~.~7tJ f~l~ ~ ? . i - - ~ ~ x~~,,,~ ~ ~ ~ _ . .r~ ~ N ~ ~ ' ~~w F~ ~~a~ ` _ - -