More than One Employer. If more than one Employer has adopted the Plan, the Employer designated in the Adoption Agreement will be considered the Employer for purposes of exercising certain powers and administrative duties. In joining the Plan, other Employers delegate authority to such Employer to (i) complete and select options in the Adoption Agreement and to select permissible investment options under Article XIV, (ii) designate the Plan Administrator and any other Fiduciary, (iii) amend or terminate the Plan without a separate written instrument from each joining Employer, provided that any such amendment or termination must apply equally to all adopting Employers, (iv) determine the appropriate basis under which plan administrative expenses will be shared or to redelegate that authority to the Plan Administrator, and (v) take or redelegate authority to the Plan Administrator to take such other action as may be necessary for the efficient and proper administration of the Plan. Each joining Employer will retain the authority to amend or terminate the Plan for its own Employees.
More than One Employer. If more than one employer has adopted the plan, the employer designated in Part A of the adoption agreement will be considered the employer for purposes of exercising certain powers and administrative duties. In joining the plan, other employers delegate authority to such employer to complete and select options in the adoption agreement and to select permissible investment media under Article 15; to designate the plan administrator and any other fiduciary; to amend or terminate the plan without a separate written instrument from each joining employer, provided that any such amendment or termination must apply equally to all adopting employers; to determine the appropriate basis under which plan administrative expenses will be shared or to redelegate that authority to the plan administrator; and to take, or redelegate authority to the plan administrator to take, such other action as may be necessary for the efficient and proper administration of the plan. Each joining employer will retain the authority to terminate the plan for its own employees. However, any amendment or termination of the plan which does not uniformly apply to all members of a controlled group or affiliated service group or other aggregated group (within the meaning of Sections 19.9, 19.10 and 19.11 hereof) will cause any standardized plan to be considered a non-standardized plan so that the employers may not rely upon the plan's qualification under Code Section 401(a) unless they obtain a determination letter to such effect from the Internal Revenue Service.
