Amendment By Sponsor. The Sponsor may amend any or all provisions of this Plan and Trust at any time without obtaining the approval or consent of any Employer which has adopted this Plan and Trust provided that no amendment shall authorize or permit any part of the corpus or income of the Fund to be used for or diverted to purposes other than for the exclusive benefit of Participants and their beneficiaries, or eliminate an optional form of distribution. In the case of a mass-submitted plan, the mass-submitter shall amend the Plan on behalf of the Sponsor.
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Samples: East West Bancorp Inc, Adoption Agreement (Shared Technologies Cellular Inc), Non Standardized Adoption Agreement (Princeton Review Inc)
Amendment By Sponsor. The Sponsor may amend any or all provisions of this Plan and Trust at any time without obtaining the approval or consent of any Employer which has adopted this Plan and Trust provided that no amendment shall authorize or permit any part of the corpus or income of the Fund to be used for or diverted to purposes other than for the exclusive benefit of Participants and their beneficiaries, or eliminate an optional form of distribution. In the case of a mass-submitted mass- submitter plan, the mass-submitter shall amend the Plan on behalf of the Sponsor.
Appears in 1 contract
Samples: Standarized Adoption Agreement (Oregon Trail Financial Corp)
Amendment By Sponsor. The Sponsor may amend any or all provisions of this Plan and Trust Trust/Custodial Account at any time without obtaining the approval or consent of any Employer which has adopted this Plan and Trust Trust/Custodial Account provided that no amendment shall authorize or permit any part of the corpus or income of the Fund to be used for or diverted to purposes other than for the exclusive benefit of Participants and their beneficiaries, or eliminate an optional form of distribution. In the case of a mass-submitted plan, the mass-submitter shall amend the Plan on behalf of the Sponsor.
Appears in 1 contract
