1. Right to Amend the Plan. The plan sponsor shall have the limited right to amend this plan at any time without the consent of any employer or of any participant or his beneficiaries hereunder. Such amendments shall be restricted to those necessary to conform this plan to mandatory provisions of Federal or State law, regulations or rulings, and to those which add such additional elective provisions as may be deemed necessary or desirable hereunder. Elective provisions shall not be deleted retroactively without the acknowledgment and/or consent of the employers hereunder who have elected such provisions. Any such amendment by the plan sponsor shall be stated in an instrument executed by the plan sponsor in the same manner and form as this plan, and each employer participating hereunder shall be given a copy thereof. Upon execution of such an amendment to the Master Plan, the plan of each participating employer which is affected by the terms of such amendment shall be deemed to have been amended in the manner therein set forth, and the employer and the participants and beneficiaries covered by such Plan shall be bound thereby.
Each participating employer shall have the right to amend its Joinder Agreement at any time. Any such amendment by the employer shall be made by execution of a revised Joinder Agreement executed on behalf of the employer by a duly authorized official and by transmitting said Agreement to the Administrator for approval and acceptance hereunder; provided, however, in the case of any plan maintained pursuant to Chapter II, and where local or State law so requires, no such amendment shall be executed unless adopted by resolution or ordinance on the part of the employer. Upon execution and filing of such amendment with the Administrator, the plan and the Joinder Agreement of the employer shall be deemed to have been amended in the manner therein set forth and the employer and all participants and beneficiaries thereunder shall be bound thereby.
2. Restrictions on Amendments. Notwithstanding the preceding, the right of any party to amend the plan shall be subject to the following restrictions:
A. No amendment shall deprive any participant or any beneficiary of a deceased participant of any of the benefits to which he is entitled under this trust with respect to contributions previously made; and
B. That no amendment shall provide for the use of funds or assets held under this trust other than for the benefit of employees and no funds contributed to this trust or assets of this trust shall, except as provided in § 430(5), ever revert to or be used or enjoyed by the plan sponsor or any of the employers participating hereunder; and
C. That no amendment to the trust which provides for a benefit modification shall be made unless the cost estimate described in § 431(3) has been prepared and presented to the employer in accordance with the Act.
(Ord. 253, 2/3/1997, Administrative Provisions, Chapter 1, Art. IV)