Common use of Employer’s Right to Amend Clause in Contracts

Employer’s Right to Amend. The Employer may, from time to time, modify or amend this Plan, in whole or in part, by delivering to the Custodian a written copy of such amendment executed by the Employer; provided, however, that any such amendment other than a change of the Employer’s prior election of an optional provision permitted in the Adoption Agreement will constitute substitution by the Employer of an individually designed plan for the approved Prototype Plan, upon which event the Custodian named in the Adoption Agreement will resign pursuant to Section 9.2 above and the Employer may no longer rely on the opinion letter received from the IRS in connection with the Prototype Plan. An Employer may effect a change of any optional provision previously elected by the Employer in the Adoption Agreement by filing with the Custodian an amended Adoption Agreement executed by the Employer only. All such amendments shall comply with the law and any applicable regulations thereunder, including any amendments of optional provisions previously elected by the Employer. All such amendments to the Plan can become effective only at the beginning of a calendar year and shall not conflict with the terms of the Summary Description for that Plan Year.

Employer’s Right to Amend. The Employer may, may from time to time, time modify or amend this Plan, Plan in whole or in part, by delivering to the Custodian a written copy of such amendment executed by the Employer; provided, however, however that any such amendment other than a change of the Employer’s prior election of an optional provision permitted in the Adoption Agreement will constitute substitution by the Employer of an individually designed plan for the approved Prototype Plan, upon which event the Custodian named in the Adoption Agreement will resign pursuant to Section 9.2 8.2 above and the Employer may no longer rely on the opinion letter received from the IRS in connection with the Prototype Plan. An Employer may effect a change of any optional provision previously elected by the Employer in the Adoption Agreement by filing with the Custodian an amended Adoption Agreement executed by the Employer only. All such amendments shall comply with the law and any applicable regulations thereunderthere- under, including any amendments of optional provisions previously elected by the Employer. All such amendments to the Plan can become effective only at the beginning of a calendar year and shall not conflict with the terms of the Summary Description for that Plan Year. The Employer shall provide plan notice (in the form of a Summary Description) of the amendments to each Eligible Employee.