AMENDMENT TO TRUST AGEEMENT
by and between
______
and ING National Trust
The following amendment was duly adopted by ING National Trust and ______[insert name of the company] (the “Company”) on ______[insert date].
WHEREAS, 7.1 of the Trust Agreement permits the Trustee to amend the Agreement as necessary to comply with the provisions of applicable law and regulations, and to deliver written notice of any such amendment to the Named Fiduciary;
WHEREAS, the Company has adopted the Plan and Trust which is intended to meet the requirements of the Employee Retirement Income Security Act, as amended ("ERISA"), and Section 401(a) of the Internal Revenue Code of 1986, as amended ("Code"), for the benefit of the employees therein described and has established or desires to establish a trust constituting a part of the Plan, pursuant to which certain assets are held to provide for the funding of and payment of benefits under the Plan; and
NOW, THEREFORE, effective ______[insert the effective date of the amendment] Section 1.4 of the Trust Agreement shall be, and it hereby is, amended to clarify the Standard of Care requirements of ERISA, as follows:
1.4 Standard of Care. The Trustee shall discharge its duties under this Agreement with respect to a plan solely in the interest of the participants and beneficiaries and with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Trustee shall not be liable for any acts or omissions of another person other than the negligent acts or omissions of its own employees and agents. The Trustee shall not be responsible for the title, validity or genuineness of any property or evidence of title thereto received by it or delivered by it pursuant to this Agreement and shall be held harmless in acting upon any notice, request, direction, instruction, consent, certification or other instrument believed by it to be genuine and delivered by the proper party or parties.
Now the undersigned, as the Named Fiduciary of the Plan, does hereby adopt this amendment as prepared by ING National Trust.
______
Signature of Named Plan Fiduciary Print Name
Date: ______