Common use of Action by Employer Clause in Contracts

Action by Employer. Any action, including the amendment or termination of the Plan as provided in Sections 16.1 and 16.2 of the Plan, by an Employer which is a corporation shall be taken by the board of directors of the corporation or any person or persons duly empowered to exercise the powers of the corporation with respect to the Plan. In the case of an Employer which is a partnership, any action, including the amendment or termination of the Plan as provided in Sections 16.1 and 16.2 of the Plan, shall be taken by any general partner or the partnership. In the case of an Employer which is a sole proprietorship, any action, including the amendment or termination of the Plan as provided in Sections 16.1 and 16.2 of the Plan, shall be taken by the sole proprietor.