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or committee, as a condition precedent to such payment, to
execute a receipt and release thereof in such form as shall
be determined by the Trustee or Employer.
11.12 ACTION BY THE EMPLOYER. Whenever the Employer under
the terms o this Agreement is permitted or required to do or
perform any act or matter or thing, it shall be done and performed
by an officer duly authorized by its board of directors.
11.13 NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY.
The "named Fiduciaries" of this Plan are (1) the Employer, (2)
the Administrator, (3) the Trustee and (4) any Investment Manager
appointed hereunder. The named Fiduciaries shall have only those
specific powers, duties, responsibilities, and obligations as are
specifically given them under this Agreement. In general, the
Employer, acting through its Board of Directors, shall have the
sole responsibility for making the contributions provided for
under Section 4.1; and shall have the sole authority to appoint
and remove the Trustee, the Administrator, and any Investment
Manager which may be provided for under this Agreement; to formu-
late.the Plan's "funding policy and method"; and to amend or
terminate, in whole or in part, this Agreement. The Administrator
shall have the sole responsibility for the administration of this
Agreement, which responsibility is specifically described in this
Agreement. The Trustee shall have the sole responsibility
of management of the assets held under the~Trust, except those
assets, the management of which has been assigned to an Invest-
went Manager, who shall be solely responsible for the manage-
went of the assets assigned to it, all as specifically provided
in this Agreement. Each named Fiduciary warrants that any
.directions given, information furnished, or action taken by it
shall be in accordance with the provisions of this Agreement,
authorizing or providing for such direction, information or action.
Furthermore, each named Fiduciary may rely upon any such direction,
information or action of another named Fiduciary as being proper
under this Agreement, and is not required under this Agreement
to inquire into-the propriety of any. such direction, information
or action. It is intended under this Agreement that each named
Fiduciary shall be responsible for the proper exercise of its
own powers, duties, responsibilites and obligations under this
Agreement and shall not be responsible for any act or failure
to act of another named Fiduciary. No named Fiduciary guarantees
the Trust Fund in any manner against investment loss or depre-
ciation in asset value.
11.14 APPROVAL BY INTERNAL REVENUE SERVICE. Notwithstanding
anything herein to the contrary, if, pursuant to an application ~
filed by or in behalf of the Plan, the Commissioner of Internal
Revenue or his delegate should determine that the Plan does not
initially qualify as a tax-exempt plan and trust under Sections
401 and SO1 of the Code, and such determination is not contested, #
or if contested, is finally upheld, then the Plan shall be void
ab initio and all amounts contributed to the Plan by the ;
Employer shall be returned and the Plan shall terminate, and
the Trustee shall be discharged from all further obligations.
11.15 UNIFORMITY. All provisions of this Plan shall be `
I, interpreted and applied in a uniform, non-discriminatory manner.
11.16 LOANS TO PARTICIPANTS. Upon the application of any Par-
E
ticipant, the Employer may direct the Trustee to make a loan or loans
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