(A) Amendment or termination. The employer may at any time amend this Plan or terminate this Plan and distribute the participants’ accounts in conformity with the Code; provided, however, that such amendment or termination shall not impair the rights of participants or their beneficiaries with respect to any compensation deferred before the date of the amendment or termination of this Plan except as may be required to maintain the tax status of the Plan under the Code. In the event that the Plan is terminated, amounts deferred under the Plan (and all Plan assets) shall be distributed to all Plan participants and beneficiaries as soon as administratively practicable after the termination of the Plan and participants shall thereafter receive their normal compensation.
(B) Amendment and restatement of previously adopted Plan. If this Plan document constitutes an amendment and restatement of the Plan as previously adopted by the employer, the amendments contained herein shall be effective as of the effective date, and the terms of the preceding Plan document shall remain in effect through such date.
(Ord. 05-11, passed 10-18-2005)