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FIRST INTERSTATE BANK
City of Pleasanton
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CITY CLERK
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LONG TERM AGREEMENT
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FIRST INTERSTATE BANK
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Last modified
10/23/2007 12:33:38 PM
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10/23/2007 9:47:48 AM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
12/7/1994
LONG TERM AGREEMENTS - NAME
FIRST INTERSTATE BANK
LONG TERM AGREEMENTS - TYPE
DEFERRED AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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4. FICAL may offer additional investments from time to time. The availability of such <br />investments will be contingent upon the CLIENT agreeing to any conditions imposed by <br />FICAL on such investments. <br />5. FICAL agrees not to accept or honor any instructions .that may be submitted by <br />participants, except for directives regarding FICAL Interstate 457 Investment vehicles. <br />6. CLIENT agrees that the minimum investment per pay period per participant for each <br />investment option in the Interstate 457 service is ten dollars and 00/100ths ($10.00). <br />IV. RECORDKEEPING <br />1. FICAL and CLIENT hereby recognize that certain matters in connection with <br />recordkeeping services, including procedures for interface with FICAL in connection <br />with its duties hereunder, shall be set forth in a recordkeeping manual (the <br />"Recordkeeping Manual"). FICAL will prepare the Recordkeeping Manual and CLIENT <br />will have the responsibility to review the Recordkeeping Manual when it is received. To <br />the extent that the terms of the Recordkeeping Manual place burdens upon CLIENT or <br />the PLAN ADMINISTRATOR to operate within a certain time frame, each of them <br />agrees to be bound by such terms. The Recordkeeping Manual may be amended from <br />time to time by FICAL upon written notice to CLIENT. <br />2. CLIENT shall be responsible for: (a) providing all necessary information to FICAL on <br />a timely basis, in a format acceptable to FICAL including participant data, payroll and <br />contribution data; (b) reviewing the accuracy and completeness of all information <br />supplied to FICAL; (c) collecting and transmitting participant requests requiring CLIENT <br />action or approval; (d) transferring contributions to FICAL via wire or check promptly <br />upon notice from FICAL of acceptance of payroll data; (e) authorizing account <br />adjustments as needed; and, (f) notifying FICAL promptly of known errors. <br />3. In the event FICAL is required to reprocess any report, document or record due to <br />incorrect or incomplete information furnished to it by CLIENT or the PLAN <br />ADMINISTRATOR or due to incorrect or incomplete Third Party Information, the <br />CLIENT shall pay FICAL a reprocessing charge equal to the costs incurred by FICAL. <br />In the event that FICAL is required to reprocess any report, document or record for the <br />PLAN for more than the most recent processing due to incorrect or incomplete CLIENT <br />information or Third Party Information, CLIENT shall pay FICAL a reprocessing charge <br />equal to the original processing charge for each cycle that is reprocessed except that the <br />most recent processing charge shall be fifty percent (50%) of the original processing <br />charge. FICAL shall have no obligation to reprocess after one year from the date of <br />delivery of the processed data containing the error. <br />4. FICAL shall correct processing errors caused by FICAL's error at no charge to the <br />CLIENT provided that the PLAN ADMINISTRATOR notifies FICAL in writing of such <br />error and furnishes all CLIENT information necessary to correct such error. <br />4 <br />
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