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• 11.7 PROHIBITION AGAINST DIVBRSION OF FUNDS. It shall be
impossible y operation o the Plan or of the Trust, by_natural
termination of either, by power of revocation or amendment, by
the happening of any contingency, by the collateral arrangement
or by any other means, for any part of the corpus or income of
the Trust Fund maintained pursuant to the Plan or any funds contri-
buted thereto to be used for, or diverted to, purposes other than
the exclusive benefit of Participants, Retired Participants, or
their Beneficiares. Except upon termination of the Trust, any
balance remaining in the Trust Fund because of erroneous actuarial
computations may be repaid to the Employer after it has been
certified by the Trustee or Administrator that all liabilities
under the Plan are satisfied.
11.8 BONDING. Every Fiduciary, except a bank or an insurance
company, which is specifically exempted by Section 412 of the Act,
shall be bonded in an amount not less than 10~ of the amount of
the funds such Fiduciary handles; provided, however, that the
minimum bond shall be 51,000 and the maximum bond X500,000.
The amount of funds handled shall be determined at the beginning
of each Plan Year by the amount of funds handled by such person,
group or class to be covered and their predecessors, if any,
during the preceding Plan Year, or if there is no preceding
Plan Year, then by the amount of the funds to be handled during
the then current Plan Year. The bond shall provide protection
to the Plan against any loss by reason of acts of fraud or dis-
honesty by the Fiduciary alone or in connivance with others.
The surety shall be a corporate surety company (as such term
is used in Section 412(a)(2) of the Act), and the bond shall be
in a form approved by the Secretary of Labor. Notwithstanding
anything in this Agreement to the contrary, the cost of such
bonds shall be an expense of and may, at the election of the
Administrator, be paid from the Trust Fund or by the Employer.
11.9 EMPLOYER'S AND TRUSTEE'S PROTECTIVE CLAUSE. Neither
i the Employer nor the Trustee, nor their successors shall be
responsible for the validity of any Contract of insurance
'I issued hereunder or for the failure on the part of the insurer
! to make payments provided by any such Contract, or for the
action of any person which may delay payment or render a Con-
, tract null and void or unenforceable in whole or in part.
11.10 INSURER'S PROTECTIVE CLAUSE. Any insurer who shall
issue contracts of insurance hereunder shall not have any res-
ponsibility for the validity of this Plan or for the tax or legal
aspects of this Plan. The insurer shall be protected and held
harmless in acting in accordance with any written direction of
the Trustee, and shall have no duty to see to the application
~ of any funds paid to the Trustee, nor be required to question
{ any actions directed by the Trustee. Regardless of any provision
of this Plan, the insurer shall not be required to take or permit
any action or allow any benefit or privilege contrary to the
terms of any Contract which it issues hereunder, or the rules
of the insurer.
11'.11 RECEIPT AND RELEASE FOR PAYMENTS. Any payment to any
~ Participant, his legal representative, Beneficiary, or to any
guardian or committee appointed for such Participant or Beneficiary
in accordance with the provisions of this Agreement, shall, to
the extent thereof, be in full satisfaction of all claims hereunder
against the Trustee and the Employer, either of whom may require
such Participant, legal representative, Beneficiary or guardian
• _ E'~`UK 3~.5 Pa~E 1435
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230 esc _ 095