Laserfiche WebLink
5.3 Amendment and Termination <br />The Employer shall have the right to amend, modify or terminate this Plan at any time. <br />In the event of the complete discontinuance of this Plan, the entire interest of each Member <br />affected thereby shall immediately become 100% Vested. All benefits hereunder shall be <br />payable solely from the assets of the Trust. After all liabilities of this Plan to Members and their <br />Beneficiaries have been satisfied, any residual assets of this Plan shall be used for such purposes <br />as determined by the Employer, including a distribution of the assets to the general funds of the <br />Employer. <br />5.4 Military Service <br />Effective December 12, 1994, and notwithstanding any provision of this Plan to the <br />contrary, contributions, benefits, and service credit with respect to qualified military service will <br />be provided in accordance with Section 414(u) of the Code. In the case of a Member who dies <br />while performing qualified military service, the survivors of the Member are entitled to any <br />additional benefits (other than benefit accruals relating to the period of qualified military service) <br />provided under the Plan had the Member resumed and then ten-ninated employment on account <br />of death. A Member receiving a "differential wage payment," as defined in Section 3401(h)(2) <br />of the Code shall be treated as an Employee of the Employer, and the differential wage payment <br />shall be treated as Compensation, <br />5.5 Administrative Expenses <br />In accordance with Section 53217 of the Act, the Employer may make contributions to <br />the Trust sufficient to defray all or part of the expenses of administering the Plan or inay pay <br />such expenses directly. <br />NB 1:790420,2 23 <br />