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14
City of Pleasanton
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CITY CLERK
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2009
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051909
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5/14/2009 2:48:15 PM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
5/19/2009
DESTRUCT DATE
15 Y
DOCUMENT NO
14
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EXHIBIT A <br />Trustee with respect to the investment of Trust assets. The Committee may, in its discretion, at <br />any time engage one or more qualified investment managers to direct the Trustee with respect <br />to all or a designated portion of the Trust assets. <br />2.3 Committee <br />(a) The Employer shall appoint the Committee to operate and administer the <br />Trust in accordance with its terms. If no committee is so appointed, the Employer will be the <br />Committee. <br />(b) The Committee has plenary authority to operate and administer the Trust, <br />including but not limited to authority to direct the investment of Trust assets. <br />(c) The Committee has the power to construe the Trust and to determine all <br />questions that may arise relating to (i) eligibility for benefits under the Trust, including the time <br />and amount of any and all benefit payments, and (ii) any and all other issues that may arise <br />under the Trust. <br />(d) All decisions and interpretations of the Committee under the Trust will be <br />conclusive and binding on all persons. <br />(e) All benefit payments under the Trust will be made upon, and in <br />accordance with, the written directions of the Committee. <br />The Committee may employ such counsel, accountants, and other agents <br />(f) <br />as it deems prudent <br />(g) The Committee's duties under this Trust will be treated as official duties <br />and each Committee member will be entitled to relief from liability, and defense and <br />indemnification, to the same extent as provided for any government officer or employee in the <br />conduct of his or her official duties. <br />(h) The Committee may direct in writing the payment or reimbursement of <br />reasonable expenses of administering the Trust, including payment of reasonable compensation <br />of counsel, accountants, and other agents and any other expenses incurred by the Committee <br />in the administration of the Trust. <br />2.4 Records. All acts and determinations of the Committee will be duly recorded <br />and all such records together with such other documents as may be necessary in exercising its <br />duties under the Trust will be preserved for no less than six years. Such records and <br />documents will at all times be open for inspection and for the purpose of making copies by any <br />person designated by the Employer. <br />2.5 Fiduciary Standards. The Committee and Trustee (and any person or entity to <br />whom the Committee or Trustee delegates any duties) shall discharge its respective duties <br />under this Trust solely in the interest of Participants and in accordance with governing State and <br />federal law and the terms of the Trust. Such duties must be discharged for the exclusive <br />purpose of providing benefits to Participants and paying expenses of the Trust. In addition, the <br />Committee and Trustee shall discharge its respective duties with the care, skill, prudence and <br />diligence under the circumstances then prevailing that a prudent person acting in like capacity <br />2 <br />
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