Agenda - 12-07-2009 - 4g - Laserfiche WebLink

Browse Search

22 funds available under the Plan; provided, however, that the Participant's investment directions shall not violate any investment restrictions established by the Employer. Neither the Emplo}=er, the Administrator, nor an}= other person shall be liable for any losses incurred b}= virtue of follo~t=ing such directions or with any reasonable administrative dela}= in implementing such directions. G.OG Valuation of Accounts. As of each Accounting Date, the Plan assets held in each investment fund offered shall be valued ar fair marker value and the investment income and gains or tosses for each fund steal[ be determined. Such investment income and gains or losses shall be allocated proportionately among all Acwuttt Valances on a fund-by- fund basis. The allocation shall be itz the proportion that each such Account balance as of the immediately preceding Accounting Date bears to the total of all such Account balances as of that Accounting Date. For purposes of this Article, a[I Account balances include the Account balances of all Participants and Beneficiaries. 6.07 Participant Loan Accounts. Participant loan accounts shall be invested in accordance with Section 8A3 of the Plan. Such Accounts shall not share in any investment income and gains or tosses of the im~estment funds described in Sections 6.05 and 6.06. 6.0$ Crediting of Accounts. The Participant's Account shall reflect the amount and value of the investments or other propert}=obtained b}=the Employer through the im~estment of the Participant's Deferred Compensation pursuant to Sections 6.05 and 6.06. It is anticipated that the Etnp[oyer's im=estments with respect to a Participant evil[ conform to the investment preference specified in the Participant's Joinder Agreement, but nothing herein shall be construed to require the Employer to make an}=particular investment of a Participant's Deferred Compensation. Each Participant shall receive periodic reports, not less frequently than annual)}; showing the then current value of leis or her Account. 6.09 Post-Severance Transfers Among Eligible Deferred Compensation Plans. (a} Ltcanting Tiajufers: A transfer ma}= be accepted from an eligible deferred compensation plan maintained by another employer and credited to a Participant's or Beneficiary's Account under the Plan if: (I) In the case of a transfer for a Participant, the Participant has had a Severance Event with that employer and become an Employee of the Employer; (2) The other employer's plan provides that such transfer will be made; and (3) The Participant or Beneficiary= whose deferred amounts are being transferred will have an amount immediately after the transfer at least equal to the deferred amount immediately before the transfer. The Employer may require such documeuratiou from the predecessor plan as it deems necessary to effectuate the transfer in accordance with Section 457(e)(10} of the Code, to confirm that such plan is an eligible deferred compensation plan ~~-=ithin the meaning oFSection 457(6) of the Code, and to assure that transfers are provided for under such plan. The Employer may refetse to accept a transfer in the form of assets other than cash, unless the Emplo}=er and the Administrator agree to hold such other assets under the Plan. {b} Outgoing Transfers: An amount ma}~ be transferred to an eligible deferred compensation plan maintained by another employer, and charged to a Participant's or Beneficiary's Account under this Plan, if: {1) In the case of a transfer for a Participant, the Participant has a Severance Event with the Employer and becomes an employee of the other employer; (2) T'he other employ er's plan provides that such transfer will be accepted; (3} The Participant or Beneficiary= and the employers have signed such agreements as are ttecessar}= to assure that the Employer's liability= ro pay benefits to the Participant has been discharged and assumed by the other employer; and 7