Elders Program Clause Samples

Elders Program. ‌ The Trust shall have an elders program to receive contributions and to pay monetary distributions from the Fund associated with the elders program to the Elder Beneficiaries. Distributions to the Elder Beneficiaries do not need to be proportional to ownership of Shares, and can be based on any criteria set forth in the elders program policies approved by the Board of Trustees. The Board of Trustees’ approval of the elders program policies, and a material modification of the policies, shall not take effect until it has received Goldbelt Concurrence. The elders program may be modified or terminated even if this would result in making some Elder Beneficiaries ineligible or reducing or canceling benefits provided by the elders program, and without regard to whether this would result in unequal treatment of current, past, future or potential Elder Beneficiaries.