Plan Document

ARTICLE 12 – Termination of Plan

12.1 Benefits Nonforfeitable if Plan Terminated

It is expected that the Plan will be continued in effect indefinitely and that each Individual Employer will continue to make contributions required by applicable collective bargaining agreements. The Trustees reserve the right to institute proceedings to effect a partial or total termination of the Plan.

In the event of a partial or total termination of the Plan or a complete discontinuance of Employer Contributions, the Normal Retirement Benefit, credited to each Participant, to the extent funded as of the date of termination or discontinuance, will be nonforfeitable.

12.2 Notice to Pension Benefit Guaranty Corporation

The Trustees shall file a notice of termination with the Pension Benefit Guaranty Corporation as required by law.

12.3 Insurance Coverage of Pension Benefit Guaranty Corporation

The Pension Benefit Guaranty Corporation, a non-profit corporation, has been established within the Department of Labor by the Employee Retirement Income Security Act of 1974 to insure that Participants and beneficiaries covered under the Plan do not incur a loss of benefits caused by a termination of the Plan before sufficient funds have been accumulated to pay all benefits.

Under certain conditions specified in applicable federal laws and regulations, the Pension Benefit Guaranty Corporation may institute proceedings to terminate the Plan. In this event, the Pension Benefit Guaranty Corporation will be responsible for determining the degree of insurance coverage, the priority of claims, and the distribution of assets and insurance proceeds to all claimants.

12.4 Payment of Retirement Benefits

An Employee's benefit, determined to be payable upon termination or partial termination under Article 12.1, will be equal to the amount of monthly retirement benefit to which he is entitled under Article 6. Plan assets shall be allocated to provide benefits on the basis of an actuarial study and report by a qualified actuary to be designated by the Trustees, in accordance with applicable laws and regulations. Benefits, with respect to those Participants who have then attained their Normal Retirement Dates, will be distributed in the form of an immediate pension benefit. All other benefits will be in the form of a paid-up deferred pension benefit, with payments commencing on the Participants' Normal Retirement Dates. The form of the pensions so distributed will be in accordance with Article 6. Benefits, when determined as described below, will remain fixed regardless of any person's employment status thereafter.

12.5 Payment of Any Remaining Funds

If, after the provisions of Article 12.4 have been applied, any balance remains in the Plan funds, such remaining balance shall be allocated among all Participants in accordance with a non-discriminatory formula to be determined by the Trustees. Any amount to be allocated to a Participant may be in cash or in the form of a monthly benefit at the discretion of the Trustees. The determinations to be made under the provisions of this Article shall be based on an actuarial study and report by a qualified actuary to be designated by the Trustees.