Common use of Amendment Termination and Merger Clause in Contracts

Amendment Termination and Merger. 11.1 Except as otherwise provided in this Agreement, the provisions of this Agreement and of the Plan may be amended, altered, or modified at any time, and from time to time, by the Board, subject to applicable law, including any amendments necessary to obtain and maintain the tax-exempt status of the Fund and the deductibility of the Employer contributions. All such amendments shall be in writing; provided, however, that no amendment shall be adopted which: (a) Alters the basic principles of this Trust of providing benefits to Employees of Employers; or (b) Conflicts with the terms of any Collective Bargaining Agreement as to the Contribution amount or any applicable law or governmental regulation. (c) Causes the use of any part of the Fund for purposes other than those authorized herein; or (d) Increases the contributions of any Employer, except as authorized herein. 11.2 This Agreement and the Plan may be terminated by the Board by a vote of the Board, with each side’s vote determined by two-thirds of the Union Trustees and two-thirds of the Employer Trustees, as applicable, measured by total contributions paid to the Fund under its signatory Collective Bargaining Agreements for the prior Plan Year, by an instrument in writing executed by mutual consent at any time or at such time when there are no further contributions required to be made to the Fund under a Collective Bargaining Agreement or other written instrument. 11.3 No amendment or termination of this Agreement or the Plan shall cause any part of the Trust to be used for, or diverted to, purposes other than for the exclusive benefit of the Participants as provided by the Plan or for the administrative expenses of the Fund, or other payments or expenses per the provisions of this Agreement. Under no circumstances shall any portion of the Trust, directly or indirectly, revert or accrue to the benefit of an Employer or Local 503. 11.4 This Trust and the Plan may be merged with, or transfer assets or liabilities to, or receive from, a plan, trust, or trust fund by the Board’s determination and applicable law, provided that such merger or transfer does not result in the loss of the tax-exempt status of the Trust, subject to applicable law. 11.5 In no event shall any assets of the Trust revert to an Employer or Local 503. Upon the termination of the Trust herein provided, all money remaining in the Fund after the payment of all expenses shall be used for the continuance of one or more benefits of the type provided by the Plan until such money has been exhausted.

Amendment Termination and Merger. 11.1 Except as otherwise provided in this AgreementRight to Amend Plan. The Plan Sponsor, the provisions of this Agreement and by resolution of the Plan may be amendedBoard of Directors, altered, or modified reserves the right at any time, time and from time to timetime to modify, suspend, amend, terminate, or merge the Plan in whole or in part (including the provisions relating to contributions) by means of a writing executed by its President or by the BoardChair of its Board of Directors, subject a copy of which modification, suspension, amendment, termination, or merger shall be delivered to the Trustee and the Committee. The Committee shall have the right to amend this Plan at any time and from time to time if such amendment is necessary to retain the Plan’s qualified status under Code Sections 401(a) and 409 or to comply with ERISA or if such amendment will not result in any material increase in the benefits provided under or the cost of maintaining the Plan. Any such amendment by the Plan Sponsor or the Committee may be made retroactively effective to the extent permitted by applicable law. Neither the Plan Sponsor nor the Committee shall have the power to modify, including any amendments necessary to obtain and maintain suspend, amend, terminate, or merge the tax-exempt status of the Fund and the deductibility of the Employer contributions. All such amendments shall be in writing; provided, however, that no amendment shall be adopted which: Plan (a) Alters the basic principles of this Trust of providing benefits to Employees of Employers; or (b) Conflicts with the terms of any Collective Bargaining Agreement as to the Contribution amount cause or any applicable law or governmental regulation. (c) Causes the use of any part of the Fund for purposes other than those authorized herein; or (d) Increases the contributions of any Employer, except as authorized herein. 11.2 This Agreement and the Plan may be terminated by the Board by a vote of the Board, with each side’s vote determined by two-thirds of the Union Trustees and two-thirds of the Employer Trustees, as applicable, measured by total contributions paid to the Fund under its signatory Collective Bargaining Agreements for the prior Plan Year, by an instrument in writing executed by mutual consent at any time or at such time when there are no further contributions required to be made to the Fund under a Collective Bargaining Agreement or other written instrument. 11.3 No amendment or termination of this Agreement or the Plan shall cause permit any part of the Trust to be used for, or diverted to, to purposes other than for the exclusive benefit of the Participants as provided by the Plan or for the administrative expenses of the FundParticipants, or other payments their Beneficiaries; (b) to cause or expenses per the provisions of this Agreement. Under no circumstances shall permit any portion of the TrustTrust to revert to or become the property of any Employer; or (c) to have the effect of rendering the nonforfeitable percentage of a Participant’s Account, directly determined as of the later of the date such amendment is adopted or indirectlythe date such amendment becomes effective, revert less than such nonforfeitable percentage computed without regard to such amendment. Each amendment or accrue action to the benefit terminate all or any portion of an Employer or Local 503. 11.4 This Trust and the Plan may be merged with, or transfer assets or liabilities to, or receive from, a plan, trust, or trust fund by the Board’s determination and applicable law, provided that such merger or transfer does not result in the loss of the tax-exempt status of the Trust, subject to applicable law. 11.5 In no event shall any assets of the Trust revert to an Employer or Local 503. Upon the termination of the Trust herein provided, all money remaining in the Fund after the payment of all expenses shall be used for made in writing and shall state the continuance of one date to which it is either retroactively or more benefits of the type provided by the Plan until such money has been exhaustedprospectively effective.