The plan, as duly amended from time to time, shall be binding on each account participant and his or her surviving spouse, heirs, administrators, trustees, successors, assigns, and beneficiaries and all other interested persons.
Nothing contained herein shall give any individual the right to be retained in the employment of the employer or affect the right of the employer to terminate any individual's employment. The adoption and maintenance of the plan shall not constitute a contract between the employer and any individual or consideration for, or an inducement to or condition of, the employment of any individual.
If the administrative service agency shall find that any person to whom any amount is payable under the plan is unable to care for his or her affairs, is a minor, or has died, then any payment due to such person or his or her estate (unless a prior claim therefor has been made by a beneficiary, surviving spouse or duly appointed legal representative or the time period during which a beneficiary or surviving spouse could make a claim under the plan has not elapsed) may, if the administrative service agency so elects, be paid to his or her spouse, a child, a relative, or any other person maintaining or having custody of such person otherwise entitled to payment or deemed by the Trustee to be a proper recipient on behalf of such person. Any such payment shall be a complete discharge of all liability under the plan therefor.
Except insofar as may otherwise be required by a qualified domestic relations order or applicable law, no amount payable at any time under the plan shall be subject in any manner to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, garnishment, charge or encumbrance of any kind, and any attempt to so alienate such amount, whether presently or thereafter payable, shall be void.
All elections, designations, requests, notices, instructions, and other communications from the employer, an employee, an account participant, or any other person to the Committee, administrative service agency or the employer required or permitted under the plan shall be in such form as is prescribed by the Committee, shall be mailed by first class mail or delivered electronically in such a form and to such location as shall be prescribed by the Committee from time to time, and shall be deemed to have been given and delivered only upon actual receipt thereof at such location. Copies of all elections, designations, requests, notices, instructions and other communications from an employee, a participant, a beneficiary, a surviving spouse or any other person to the employer shall be promptly filed with the administrative service agency in such a manner specified by the administrative service agency.
All notices, statements, reports and other communications from an employer, the Trustee or the Committee to any account participant shall be deemed to have been duly given when delivered to, or when mailed by electronic delivery or other form of delivery approved by the Committee or by first class mail, postage prepaid, and addressed to such employee, account participant, beneficiary, surviving spouse or other person at his or her address last appearing on the records of the administrative service agency, the Trustee or the employer.
The Trust Fund shall be the sole source of benefits under the plan and, except as otherwise required by applicable law, neither the Committee, the employer nor any officer or employee of an employer assumes any liability or responsibility for payment of such benefits, and each account participant, his or her spouse or beneficiary, or other person who shall claim the right to any payment under the plan shall be entitled to look only to the Trust Fund for such payment and shall not have any right, claim or demand therefor against the Committee or any member thereof, the employer, or any officer or employee of an employer. Nothing in this § 50-13.7 shall relieve an employer of its obligation to defer or contribute amounts deferred or contributed to the Trust Fund within two business days after the applicable payroll date, in the manner contemplated by § 50-4.1.
A. 
Account assets held in Trust Fund. The entire value of each account for each account participant shall be held in the Trust Fund pursuant to the trust agreement for the exclusive benefit of the applicable account participant and for paying reasonable expenses of the plan and of the Trust Fund pursuant to § 50-11.7 and no part of the Trust Fund shall revert to any employer; provided, however, that the setting-aside of any amounts to be held in the Trust Fund is expressly conditioned upon the following: If an amount is set aside to be held in the Trust Fund by an employer in a manner which is inconsistent with any of the requirements of Section 457(b) of the Code, such amount shall be returned to such employer prior to the first day of the first plan year commencing more than 180 days after the date of notification of such inconsistency by the Secretary of the Treasury. Any amounts so returned to the employer, and the earnings thereon, shall be remitted to the participants on whose behalf such amounts were set aside.
B. 
Vesting. Each account participant shall be 100% vested at all times in his or her plan benefit.
The duties and responsibilities allocated to each person under the plan and the trust agreement shall be the several and not joint responsibility of each, and no such person shall be liable for the act or omission of any other person.
A. 
The term "including" means by way of example and not by way of limitation; and
B. 
The headings preceding the sections hereof have been inserted solely as a matter of convenience and in no way define or limit the scope or intent of any provisions hereof.
The plan and all rights thereunder shall be governed by and construed in accordance with the Code and the laws of the state.