Reso 2010-068 - Laserfiche WebLink

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13.03. Plan Termination. The Employer expects to continue the Plan indefinitely, but reserves the right to terminate the Plan in part or in whole at any time by appropriate action. The Employer shall thereupon give written directions to the Administrator and the Trustee to either: A. Terminate the Plan and the Trust and direct the Trustee to distribute the Plan assets to the Participants; or B. Cease future contributions under the Plan, with distributions to be made to a Participant pursuant to the Ptan upon the Participant's Severance From Employment. 13.04. Reversions. Except as provided below and as otherwise specifically permitted by law, it shall be impossible by operation of the Plan or of the Trust, by termination of either, by power of revocation or amendment, by the happening of any contingency, by collateral arrangement or by any other means, for any part of the corpus or income of the Trust maintained pursuant to the Plan or any funds contributed thereto to be used for, or diverted to, purposes other than the exclusive benefit of the Participants or their Beneficiaries; provided, however, in the ease of a contribution that is made by the Employer by a mistake of fact, the Trustee may return such contribution to the Employer within one (1) year after the payment of the contribution. 13.05. Transfer To New Plan. If the Employer establishes another Code section 457 plan providing comparable benefits to the Plan, and the Employer intends to discontinue contributions under the Plan due to the liabilities created under the new plan, then, subject to the prior approval of the Employer, the Employer may direct the Trustee to cause the Trust to be transferred to such newly-created Plan. Thereafter, notwithstanding the provisions of the Plan Termination section, above, all further obligations to Participants, their Beneficiaries or the Employer under the Plan shall cease and shall instead be determined by the terms of the new plan. Neither the Employer nor the Trustee shall be required to ascertain the proper applicability of such fund after the transfer is made. 13.Ofi. Plan Mercer. In the event of any merger or consolidation with, or the transfer of assets or liabilities to any other plan, each Participant in the Plan shall (if the Plan then terminated) receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater than the benefit that the Participant would have been entitled to receive immediately before the merger, consolidation or transfer (if the Plan then terminated).. Any Employee whose employment is continued by such successor Employer shall not be deemed to have had a Severance From Employment for any Plan purposes. ARTICLE 14. MISCELLANEOUS 14.01. Nonalienation Of Benefits. A. Subject to the exceptions provided below and as otherwise specifically permitted by law, no assets or benefits under the Plan and the Trust shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge. Any attempt to so anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same shall be void. Nor shall any such benefits in any manner be liable for 35