Common use of Qualification Of Prototype Clause in Contracts

Qualification Of Prototype. The Sponsor intends that this Plan will meet the requirements of Code Section 408(k)(6) and the regulations thereunder as a qualified Salary Reduction Simplified Employee Pension Plan. Should the Commissioner of Internal Revenue or any delegate of the Commissioner at any time determine that the Plan fails to meet the requirements of said Code Section 408(k)(6), the Sponsor will amend the Plan so as to maintain its qualified status. 9.3 AMENDMENT BY EMPLOYER The Employer may amend any option elected in the Adoption Agreement provided that no amendment shall authorize or permit any part of the Employer's contribution to be used for or diverted to purposes other than for the exclusive benefit of Participants. If the Employer amends the Adoption Agreement other than within the available options, the Employer may no longer participate in this Plan. 9.4