RES 85525 - Laserfiche WebLink

· I (i) To settle, compromise, or submit to arbitration any claims, When an account becomes an account stated, such account shall be debts. or damages due or owing to or from the Trust Funds; to finally settled, and the Trustee shall be completely discharged and commence ordefendsuitsorlegal or administrative proceedings; released, as if such accounthad been settled and allowed byajudgment and to represent the Trust Funds in all suits and legal and or decreeofa courtofcompetentjurisdictioninanactionorproceeding administrative proceedings. in which the Trustee and the Employer were parties. (j) To do all such acts, take all such proceedings, and exerciseall The Trustee shall have the right to apply at any time to a court of such rights and privileges, although not specifically mentioned competent jurisdiction for the judicial settlement of its account. herein, as the Trustee may deem necessary to administer the Trust Funds and to carry out the purposes of this Trust. ARTICLE VI. Resignation and Removal of Trustee. Section 2.3. Distributions from the Trust Funds. The Employer Section 6.1. Resignation of Trustee. The Trustee may resign at any hereby appoints the Trustee as its agent for the purpose of making timebyfilingwiththeEmployeritswrittenresignation. Such resignation distributions from the Trust Funds. In this regard the terms and shall take effect sixty (60) days from the date of such filing and upon conditions set forth in the Plan are to guide and control the Trustee's appointment of a successor pursuant to Section 6.3., whichever shall power. :~ first occur. Section 2.4. Valuation of Trust Funds. At least once a year as of Section 6.2. Removal of Trustee. The Employer may remove the Valuation Dates designated by the Trustee, the Trustee shall determine Trustee at any time by delivering to the Trustee a written notice of its the value of the Trust Funds. AssetsoftheTrustFundsshallbevaluedat removal and an appointment of a successor pursuant to Section 6.3. their market values at the close of business on the Valuation Date, or, in Such removal shall not take effect prior to sixty (60) days from such the absence of readily ascertainable market values asthe Trustee shall delivery unless the Trustee agrees to an earlier effective date. determine, in accordance with methods consistently followed and Section 6.3. Appointment of Successor Trustee. The appointment of uniformly applied. a successor to the Trustee shall take effect upon the delivery to the ARTICLE III. For Protection of Truslee. Trustee of (a) an instrument in writing executed by the Employer appointing such successor, and exonerating such successor from Section 3.1. Evidence of Action by Employer. The Trustee may rely liability for the acts and omissions of its predecessor, and (b) an upon any certificate, notice or direction purporting to have been signed acceptance in writing, executed by such successor. on behalf of the Employer which the Trustee believes to have been signed by a duly designated official of the Employer. No communication All of the provisions set forth herein with respect to the Trustee shall shall be binding upon any of the Trust Funds or Trustee until they are relate to each successor with the same force and effect as if such received by the Trustee. successor had been originally named as Trustee hereunder. Section 3.2. Advice of Counsel. The Trustee may consult with any If a successor is not appointed with sixty (60) days after the Trustee legal counsel with respect to the construction of this Agreement, its gives notice of its resignation pursuant to Section 6.1., the Trustee may dutieshereunder, oranyact, which it proposestotakeoromit, andshall apply to any court of competent jurisdiction for appointment of a not be liable for any action taken or omitted in good faith pursuant to successor. such advice. Section 6.4. Transfer of Funds to Successor. Upon the resignation or Section 3.3. Miscellaneous. The Trustee shall use ordinary care and removal of the Trustee and appointment of a successor, and after the reasonable diligence, but shall not be liable for any mistake of judgment final account of the Trustee has been properly settled, the Trustee shall or other action taken in good faith. The Trustee shall not be liable for any transfer and deliver any of the Trust Funds involved to such successor. loss sustained by the Trust Funds by reasons of any investment made in ARTICLE VII. Duration and Revocation of Trust Agreement. good faith and in accordance with the provisions of this Agreement. Section 7.1. Duration and Revocation. This Trust shall continue for The Trustee's duties and obligations shall be limited to those such time as may be necessary to accomplish the purpose for which it expressly imposed upon it by this Agreement. was created but may be terminated or revoked at any time by the ARTICLE IV. Taxes, Expenses and Compensation of Trustee. Employer as it relates to any and/or all related participating Employees. Written notice of such termination or revocation shall be given to the Section 4.1. Taxes. The Trustee shall deduct from and charge against Trustee by the Employer. Upon termination or revocation of the Trust, the Trust Funds any taxes on the Trust Funds or the income thereof or all of the assets thereof shall return to and revert to the Employer. which the Trustee is required to pay with respect to the interest of any Termination of this Trust shall not, however, relieve the Employerof the person therein. Employers continuing obligation to pay deferred compensation to Section 4.2. Expenses. The Trustee shall deduct from and charge Employees in accordance with the terms of the Plan. against the Trust Funds all reasonable expenses incurred by the Trustee Section 7.2. Amendment. The Employer shall have the right to amend in the administration of the Trust Funds, including counsel, agency, this Agreement in whole and in part but only with the Trustee's written investment advisory, and other necessary fees. consent. Any such amendment shall become effective upon (a) delivery ARTICLE V. Settlement of Accounts. The Trustee shall keep accurate to the Trustee of a written instrument of amendment, and (b) the and detailed accounts of all investments, receipts, disbursements, and endorsement by the Trustee on such instrument of its consent thereto. other transactions hereunder. ARTICLE VIII. Miscellaneous. Within ninety (90) days after the close of each fiscal year, the Trustee Section 8.1. Laws of the District of Columbia to Govern. This shall render in duplicate to the Employer an account of its acts and Agreement and the Trust hereby created shall be construed and transactions as Trustee hereunder. If any part of the Trust Fund shall be invested through the medium ofanycommon, collectiveorcommingled regulated by the laws of the District of Columbia. Trust Funds, the last annual report of such Trust Funds shall be SectionS.2. Successor Employers. The"Employer" shall includeany submitted with and incorporated in the account. person who succeeds the Employer and who thereby becomes subject to the obligations of the Employer under the Plan. If within ninety (90) days after the mailing of the account or any amended account the Employer has not filed with the Trustee notice of Section 8.3. Withdrawals. The Employer may, at any time, and from any objection to any act or transaction of the Trustee, the account or time to time, withdraw a portion or all of Trust Funds created by this amended account shall become an account stated. If any objection has Agreement. been filed, and if the Employer is satisfied that itshould bewithdrawn or Section 8.4. Gender and Number. The masculine includes the if the account is adjusted tothe Employer's satisfaction, the Employer feminineandthesingularincludestheplural unless the context requires shall in writing filed with the Trustee signify approval of the account and another meaning. it shall become an account stated.