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38 <br />such amendment to become effective, but the Administrator shall be under no obligation to continue acting as Administrator <br />hereunder if it disapproves of such amendment. <br />Tltc Administrator ma3= at atiy tithe propose an amendment to the Plan by an instrument in writing transmitted to the <br />Employer at least 34 da3•s before the effective date of the amendment. Sttch amendment steal! become effective unless, tivithin <br />such 30-day period, the Employer notifies the Administrator in writing that it disapproves such amendment, in which case <br />Bach amendment shall not become effective. In the evetu of such disapproval, the Administrator shall be under no obligation <br />to continue acting as Administrator hereunder. <br />The Employer may at any time terminate this Plan. In the event oFtermination, assets of the Plan shall 6e distributed to <br />Participants and Beneficiaries as soon as administratively practicable following termination of the Plan. tVternatively; assets of <br />the Plan maybe transferred to an eligible deferred compensation plan maintained by another eligible governmental employer <br />within die same State if (a) all assets held by the Plan {other than Deemed IRAs) are transferred; (b} the receiving plan provides <br />for the receipt of transfers; (c) the Participants and Beneficiaries whose deferred amounts are being transferred will have an <br />amount immediately after the transfer at least equal to the deferred amount immediately before the transfer; and (d) the <br />Participants or Beneficiaries whose deferred amounts are being transferred is not eligible For additional annual deferrals in the <br />receiving plan unless the Participants or Beneficiaries are performing services for the emplo}•er maintaining the receiving plan. <br />Except as may be required to maintain the status of the Plan as an eligible deferred compensation plan under Section 457(b) of <br />the Code or to comply with other applicable laws, no amendment or termination of the Plan shall divest an}• Participant of any <br />rights with respect to compensation deferred before the date of the amendment or termination. <br />Article XIII. Applicable Law <br />This Plan and Trust shall be construed under the laws of the state where the Employer is located and is established with <br />the intent that it meet the requirements of an "eligible deferred compensation plan" under Section 457{b} of the Code, as <br />amended. The provisions of this Plan andTrust shall be interpreted wherever possible in conformity with the requirements of <br />that Section of the Code. <br />In addition, notwithstanding any provision of the Plan to the contrary, the Plan shall be administered in compliance with the <br />requirements of Section 414(u) of the Code. <br />Article XIS Gender and Number <br />Tlie masculine pronoun, whenever used herein, shall include the feminine pronoun, and the singular shall. include the plural, <br />except where the context requires other4vise. <br />23 <br />