Common use of AMENDMENT BY EMPLOYER Clause in Contracts

AMENDMENT BY EMPLOYER. The Employer may: (a) change the choice of options in the Adoption Agreement; (b) add overriding language in the Adoption Agreement when such language is necessary to satisfy Code Section 415 or 416 because of the required aggregation of multiple plans; (c) amend administrative provisions of the Trust or custodial document in the case of a Plan established under a Nonstandardized Adoption Agreement and make more limited amendments in the case of a Plan established under a Standardized Adoption Agreement such as the name of the Plan, Employer, Trustee or Custodian, Plan Administrator and other Fiduciaries, the trust year, and the name of any pooled trust in which the Plan’s Trust will participate; (d) add certain sample or model amendments published by the Internal Revenue Service or other required good faith amendments which specifically provide that their adoption will not cause the Plan to be treated as individually designed; and (e) add or change provisions permitted under the Plan and/or specify or change the Effective Date of a provision as permitted under the Plan and correct obvious and unambiguous typographical errors and/or cross-references that merely correct a reference but that do not in any way change the original intended meaning of the provisions. An Employer that amends the Plan for any other reason, including a waiver of the minimum funding requirement under Code Section 412(d), will no longer participate in this Prototype Plan and will be considered to have an individually designed plan.