Reso 2010-068 - Laserfiche WebLink

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Participant's Accounts in the one or more of the investment options made available by the Administrator. 7.02. Separate Account Established. A separate participant-directed individual account shall be established for each Participant (or Beneficiary) who has directed an investment. Transfers between the Participant's other accounts and the Participant`s participant-directed individual account shall be charged and credited as the case may be to each account. The participant-directed individual account shall not share in the Trust investment results, but it shall be charged or credited as appropriate with the net earnings, gains, losses, expenses, taxes and unrealized appreciation or depreciation in market value, during each calendar year attributable to such account, and it shall be subject to all of the other provisions of the Plan and this Trust. Neither shall the investment results of the participant-directed individual accounts be included in the calculation of the Trust investment results generally. Participant Account values shall be maintained on a daily valuation basis using the most recent values provided by the Trustee. 7.03. Fiduciary Dui. Notwithstanding any other provisions of law, a Participant's choosing individually directed investments shall relieve the Trustee, the Employer, the Administrator and the Advisory Committee of liability for any losses which are the direct and necessary result of the investment instructions given by a Participant or Beneficiary. However, such relief shall be conditioned upon the Employer's, the Administrator's or the Advisory Committee's compliance with communication and education requirements similar to those prescribed in ERISA section 404(c), as well as any such requirements under applicable State law. ARTICLE 8. PARTICIPANT LOANS No Participant loans will be allowed under this Plan. ARTICLE 9. VESTING 9.01. Full Vesting. A Participant shall at all times have an unconditional, nonforfeitable right that is legally enforceable against the Plan in the Participant's Account. 9.02. No Divestment For Cause. Except as provided in the Lost Participant Or Beneficiary section, below, the Plan does not permit divestment far cause. No benefit provided hereunder to a Participant or Beneficiary shall be forfeited or divested for any reason or cause whatsoever. 9.03. Lost Participant Or Beneficiary. If, according to the records of the Plan, a Participant has reached Normal Retirement Age and has had a Severance From Employment or if a Participant has died, and neither the Participant nor a Beneficiary has made a claim for benefits, then the Participant's or Beneficiary's Account balance shall be held until the end of the third (3rd) calendar year after the Participant's Normal Retirement Age, at which time it shall be forfeited; provided, however, that if a claim is later made by the Participant or Beneficiary for the forfeited benefit, the Employer will reinstate the amount of the Account balance that had been forfeited, unadjusted by any gains or losses attributable to such amount. 16