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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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accepted auditing standards (or according to other agreed -upon procedures that the Trustee <br />approves in writing), and that the Trustee is entitled to rely upon the accountant's examination <br />and opinion and all reports relating to the examination. <br />(c) Except as otherwise ordered by a court having jurisdiction, no person or <br />entity other than the Committee may require an accounting by the Trustee. <br />(d) Notwithstanding anything in this Trust to the contrary, the Trustee will <br />have the right at any time to petition any appropriate court for a settlement of the Trust or for the <br />court's instructions in executing the Trustee's obligations under this Trust. <br />4.6 Compensation. No compensation will be paid to the Trustee for services <br />provided under this Trust. However, the Trustee may be reimbursed from Trust assets for <br />reasonable actual expenses related to performance of its duties under this Trust. <br />4.7 Limitation on Liability <br />(a) The Trustee will not be responsible for any act or omission, unless such <br />act or omission is a breach of the fiduciary standards set forth in Section 2.5. <br />(b) The Trustee will not be responsible for any act or omission of any <br />accountant, counsel, or agent that is appointed selected and monitored in accordance with its <br />fiduciary duty pursuant to Sections 4.3 and 2.5. <br />(c) The Trustee will not be responsible for any selection, decision, or <br />instruction made by the Committee. <br />(d) The Trustee's duties under this Trust will be treated as official duties, and <br />the Trustee will be entitled to relief from liability, and defense and indemnification, to the same <br />extent as provided for any governmental entity, officer or employee, as applicable, in the <br />conduct of official duties. <br />5.1 Term of the Trust. This Trust will continue until the earlier of (i) the date on <br />which all OPEB liabilities have been satisfied, or (h) the termination of the Trust. If all OPEB <br />liabilities have been satisfied, this Trust will then terminate unless extended by the Employer. <br />5.2 Amendment of the Trust. <br />ARTICLE V <br />AMENDMENT AND TERMINATION <br />(c) Only the Employer may amend this Trust. <br />5 <br />EXHIBIT A <br />(a) Any and all amendments to this Trust that may be required or suggested <br />by the Internal Revenue Service for the purpose of the approval of the Trust as tax exempt <br />under the Code may be made retroactively to the extent permitted by law. <br />(b) The Employer may amend this Trust at any time for any reason, provided <br />that no amendment may reduce the existing benefits of any Participant. <br />
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