HomeMy WebLinkAbout2471 Approval of 11.04 In the exercise of all power granted to the ~
actions and Trustees oriqinally named in this Aqreement,
decisions each action shall be approved by both Trustees.
In the event that an additional Trustee or
Trustees shall be named by the Board of Directors
to act hereunder, the action of a majority of the
individuals acting as Trustees shall suffice. If
Only one there be only one Trustee acting hereunder, his
Trustee action alone shall be sufficient. Any instrument
necessary to to be executed in behalf of the Trustees, in-
handle checking cluding any check issued by or to the order of
account the Trustees, may be made, executed, signed, en-
dorsed or delivered by either one of the Trustees,
and any person, firm or corporation, including
any bank, may rely upon and shall be protected in
relying upon the signature of either Trustee so
signing with the same force and~ ect as though
both Trustees had ssqned.
Expenses 11.05 The expenses incurred by the Trustees in t~e
paid by Trust performance of their duties, Qncluding fees for
Fund unless legal, accounting and investment services ren-
Employer pays dered to the Trustees, and such compensation to
; the Trustees as may be agreed upon in writing
s from time to time between the Employer and the
~ Trustees, shall be paid from the Trust Fund un-
E less paid by the Employer. All taxes of any and
; all kinds whatsoever that may be levied or assessed
~ under existing or future laws upon, or in respect
~ of, the Trust Fund or the income thereof shall be
~ paid from the Trust Fund.
~ Elimination 11.06 The individuals named herein as the Trustees and
~
p of Trustee any successor Trustees shall not be liable for
liability except the making, retention or sale of any investment
~ for gross or reinvestment made by them as herein provided,
~ negligence or nor for any loss to or diminution of the Trust
~ willful mis- Fund, except due to their own willful misconduct
~ conduct or gross negligence. The Trustees may, from time
s~ to time, consult with counsel, who may be counsel
~ to the Employer, and shall be fully protected in
' acting upon the advice of such counsel. The Em-
~ ployer agrees to indemnify and hold the Trustees
= harmless from and against any liability that it
may incur in the administration of the Trust Fund,
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