Common use of Amendment or Termination of the Plan Clause in Contracts

Amendment or Termination of the Plan. 12.1 The Board reserves the right at any time to modify or amend the Plan in whole or in part, provided, however, that the Board shall have no power to modify or amend the Plan in such manner as would cause or permit any funds held by the Trustee hereunder to be used for, or diverted to, purposes other than for the exclusive benefit of Participants or their beneficiaries, or as would cause or permit any portion of such funds or assets to become the property of the Board until all liabilities pursuant to the Plan are satisfied. No such modification or amendment shall have the effect of retroactively changing or depriving Participants or beneficiaries of rights already accrued under the Plan. 12.2 The Plan may be terminated by a caucus of U.S. Regional Members of the Church but only upon condition that such action be taken under the Trust as shall render it impossible at any time prior to the satisfaction of all liabilities with respect to Participants and beneficiaries for any part of the corpus or income of the Trust to be at any time used for, or diverted to, purposes other than for the exclusive benefit of Participants and beneficiaries. 12.3 Upon termination of the Plan with respect to a group of Participants which constitutes a partial termination of the Plan, a proportionate interest shall be determined by the actuary upon the request of the Board. The fiduciaries shall have no responsibility with respect to the determination of any such proportionate interest. The funds so allocated and segregated shall be used by the Trustee to pay benefits to or on behalf of Participants in accordance with Section 12.4. 12.4 Upon termination of the Plan, or upon termination of employment of a group of Participants constituting a partial termination of the Plan, each such Participant’s Accrued Benefit, based on his Service prior to the date of termination shall become fully vested and nonforfeitable to the extent funded. The assets of the Trust Fund, or the portion thereof segregated in accordance with Section 12.3, shall be liquidated (after provision is made for the expenses of liquidation) by the payment or provision for the payment of benefits in the order of preference set forth in this Section 12.4, with all liabilities to the persons in each class to be fully satisfied before any allocation is made to the next class. In the event the Fund shall be insufficient to satisfy the liabilities of any given class, a pro rata allocation shall be made to each individual in proportion to the present value (as of the termination date) of the total disability of all individuals within the class. (i) In the case of the benefit of a Participant or beneficiary which was in pay status as of the beginning of the 3-year period ending on the termination date of the Plan, to each such benefit, based on the provisions of the Plan (as in effect during the 5-year period ending on such date) under which such benefit would be the least. The lowest benefit in pay status during said 3-year period shall be considered the benefit in pay status for such period. (ii) In the case of a Participant’s or beneficiary’s benefit (other than a benefit described in subparagraph (i)) which would have been in pay status as of the beginning of such 3-year period if the Participant had retired prior to the beginning of the 3-year period and if his benefits had commenced (in the basic form of annuity) as of the beginning of such period, to each such benefit based on the provisions of the Plan (as in effect during the 5-year period ending on such date) under which such benefit would be the least. (iii) To all other benefits of Participants or beneficiaries determined under Section 4044(a)(4) of Title IV of ERISA. (iv) To all other vested benefits under the Plan. (v) To any other benefits under the Plan. Subject to the plan termination provisions of Title IV of ERISA, such allocations shall be accomplished through either (1) continuance of the Trust Fund or establishment of a new Trust Fund, or

Amendment or Termination of the Plan. 12.1 The Board NBUSA reserves the right at any time to modify or amend the Plan in whole or in part, provided, however, that the Board NBUSA shall have no power to modify or amend the Plan in such manner as would cause or permit any funds held by the Trustee hereunder to be used for, or diverted to, purposes other than for the exclusive benefit of Participants or their beneficiaries, or as would cause or permit any portion of such funds or assets to become the property of the Board NBUSA until all liabilities pursuant to the Plan are satisfied. No such modification or amendment shall have the effect of retroactively changing or depriving Participants or beneficiaries of rights already accrued under the Plan. 12.2 The Plan may be terminated by a caucus of U.S. Regional Members of the Church but only upon condition that such action be taken under the Trust as shall render it impossible at any time prior to the satisfaction of all liabilities with respect to Participants and beneficiaries for any part of the corpus or income of the Trust to be at any time used for, or diverted to, purposes other than for the exclusive benefit of Participants and beneficiaries. 12.3 Upon termination of the Plan with respect to a group of Participants which constitutes a partial termination of the Plan, a proportionate interest shall be determined by the actuary upon the request of the BoardNBUSA. The fiduciaries shall have no responsibility with respect to the determination of any such proportionate interest. The funds so allocated and segregated shall be used by the Trustee to pay benefits to or on behalf of Participants in accordance with Section 12.4. 12.4 Upon termination of the Plan, or upon termination of employment of a group of Participants constituting a partial termination of the Plan, each such Participant’s Accrued Benefit, based on his Service prior to the date of termination shall become fully vested and nonforfeitable to the extent funded. The assets of the Trust Fund, or the portion thereof segregated in accordance with Section 12.3, shall be liquidated (after provision is made for the expenses of liquidation) by the payment or provision for the payment of benefits in the order of preference set forth in this Section 12.4, with all liabilities to the persons in each class to be fully satisfied before any allocation is made to the next class. In the event the Fund shall be insufficient to satisfy the liabilities of any given class, a pro rata allocation shall be made to each individual in proportion to the present value (as of the termination date) of the total disability of all individuals within the class. (i) In the case of the benefit of a Participant or beneficiary which was in pay status as of the beginning of the 3-year period ending on the termination date of the Plan, to each such benefit, based on the provisions of the Plan (as in effect during the 5-year period ending on such date) under which such benefit would be the least. The lowest benefit in pay status during said 3-year period shall be considered the benefit in pay status for such period. (ii) In the case of a Participant’s or beneficiary’s benefit (other than a benefit described in subparagraph (i)) which would have been in pay status as of the beginning of such 3-year period if the Participant had retired prior to the beginning of the 3-year period and if his benefits had commenced (in the basic form of annuity) as of the beginning of such period, to each such benefit based on the provisions of the Plan (as in effect during the 5-year period ending on such date) under which such benefit would be the least. (iii) To all other benefits of Participants or beneficiaries determined under Section 4044(a)(4) of Title IV of ERISA. (iv) To all other vested benefits under the Plan. (v) To any other benefits under the Plan. Subject to the plan termination provisions of Title IV of ERISA, such allocations shall be accomplished through either (1) continuance of the Trust Fund or establishment of a new Trust Fund, or