Procedure on Termination. In the event of a termination or partial termination of this Plan all affected Participants shall thereupon become one hundred percent (100%) vested in the amounts in their Individual Accounts. Any Employer contributions held in the Trust which have not been allocated on the termination date shall be allocated as provided in Section 4 of Article IV as if the termination date were an Allocation Date. The Trustee shall thereafter, upon direction of the Directors, distribute to the Participants the amounts in such Participants' Individual Accounts subject, where applicable, to Section 403(d)(1) of ERISA and regulations of the Secretary of Labor thereunder as may affect allocation of assets upon termination of the Plan.
Appears in 4 contracts
Samples: Restated Trust Agreement, Restated Trust Agreement, Restated Trust Agreement
