Exclusive Benefit of Employees. This Agreement has been made, and this Plan and Trust created, for the exclusive benefit of the Company’s full time employees and their beneficiaries. The terms of this Plan are intended to comply with the present provisions of Sections 401(a), 409, 501(a) and 4975(d)(3) and (e)(7) of the Internal Revenue Code, and as they may hereafter be amended, and Treasury Department Regulations in connection therewith, in order that the Plan and Trust may qualify for tax exemption. Under no circumstances shall any part of the principal or income of the Plan and Trust be used for, or revert to, the Company, or be used for, or diverted to, any purposes other than for the exclusive benefit of the employees and their beneficiaries. This Plan and Trust shall not be construed, however, as giving any employee, or any other person, any right, legal or equitable as against the Company, the Trustees or the principal or income of the Trust, except as specifically provided for herein, nor shall it be construed as giving any employee the right to remain in the Company’s employment.
Exclusive Benefit of Employees. Under no circumstances, except as provided in Section 2.02, shall any part of the principal or income of the Trust established hereunder be used for or revert to the Employer or be used for or diverted to purposes other than for the exclusive benefit of the participating Employees and their Beneficiaries. However, the Plan shall not be construed as giving any Employee or other person any right, legal or equitable, against the Trustee, the Employer, or the principal or interest of the Trust except as specifically provided for herein. Furthermore, nothing herein contained shall be construed as giving any Participant the right to be retained in the service of the Employer nor, upon dismissal or upon the Participant’s voluntary termination, to have any right or interest in this Plan and Trust other than as provided herein.
Exclusive Benefit of Employees. All contributions made pursuant to the Plan shall be held by the Trustee in accordance with the terms of the Trust Agreement for the exclusive benefit of those Employees who are Participants under the Plan, including former Participants and their Beneficiaries and Surviving Spouses, and shall be applied to provide benefits under the Plan and to pay expenses of administration of the Plan and the Trust, to the extent that such expenses are not otherwise paid. At no time prior to the satisfaction of all liabilities with respect to such Employees and their Bene- ficiaries shall any part of the Trust Fund (other than such part as may be required to pay administration expenses and taxes), be used for, or diverted to, purposes other than for the exclusive benefit of such Employees and their Beneficiaries and Surviving Spouses. However, without regard to the provisions of this Section 13.14: (a) if any contribution under the Plan is conditioned on initial qualification of the Plan under Section 401 of the Code and if the Plan receives an adverse determination with respect to its initial qualification, nothing in this Section 13.14 shall prohibit the return of such contribution to the Employers within one calendar year after such determination, but only if the application for determination is made by the time prescribed by law for filing the Company's return for the taxable year in which the Plan is adopted, or such later date as the Secretary of the Treasury may prescribe, (b) if a contribution is conditioned upon the deductibility of the contribution under Section 404 of the Code, then, to the extent the deduction is disallowed, the Trustee shall, upon written request of an Employer, return the contribution (to the extent disallowed), to the Employer within one year after the date the deduction is disallowed; and (c) if a contribution or any portion thereof is made by an Employer by a mistake of fact, the Trustee shall, upon written request of the Employer, return the contribution or such portion to the Employer within one year after the date of payment to the Trustee; and (d) earnings attributable to amounts to be returned to an Employer pursuant to (b) or (c) above shall not be returned, and losses attributable to amounts to be returned pursuant to (b) or (c) shall reduce the amount so returned.
Exclusive Benefit of Employees. At no time during the existence of this Plan and Trust or at its termination may any part of the Trust corpus or income be used for or directed to purposes other than for the exclusive benefit of the Participants hereof or their beneficiaries.
Exclusive Benefit of Employees. All contributions made pursuant to the Plan shall be held by the Trustee in accordance with the terms of the Plan and this Trust Agreement for the exclusive benefit of those Employees of the Company as defined in the Plan who are Participants under the Plan, including former Employees, and their Beneficiaries, and shall be applied to provide benefits under the Plan and to pay the expenses of the administration of the Plan and the Trust, to the extent that such expenses are not otherwise paid. At no time prior to the satisfaction of all liabilities with respect to such Employees and their Beneficiaries shall any portion of the Trust Fund (other than such part as may be required to pay administration expenses and taxes) be used for, or diverted to, purposes other than for the FORM S-8/ 79 exclusive benefit of such Participants and their Beneficiaries. However, without regard to the provisions of this Section 2.2:
Exclusive Benefit of Employees. It shall be impossible by operation of this Trust Agreement, by termination thereof, by power of revocation or amendment, by the happening of any contingency, by collateral agreement, or by any other means for any part of the corpus or income of the Fund to be used or diverted for purposes other than for the exclusive benefit of Employees, their dependents and their beneficiaries, except for the payment of reasonable expenses of administering the Fund.
