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~ ARTICLE XIV
INVESTt•IE~'P OF FUWDS BY TiZUSTE•E
XIV:1 The Pension Committee shall establish and review "
annually a fundinq policv for the Plan and Trust
which satizfies the requirements of Part 4 of
Title I of the Employee Retirement Income Security
Act of 1974. In discharging theic duties as heYein -
defined, the Pension Comwittee shall maintain ~
written records with respect to such~fundinq policy.
XIV:2 Out of and to the extent of funds made available
for such puruoses by the Bmplover under Acticle VI
entitled Contributions, the Trnstee:
(a) may purchase life .insurance contracts on
the lives of insu~able Partici,pants as
provided in Article X and shall p•~v the =
initial ancl renewal premiums ther~on, ~
and shall establish a Trust Account ~
Which, t~qether with the life insurance ~ ~
contracts, will provide the retirement
benefits as determined by Article V ~
- ` entitled Retirement Benefits.
f (b) may make such other investment incluclinq
investment in securities and real nropertv
of the Employer as determinecl by the
Trustee, however, where funds are invested
in stock or securities-of the E:mployer,
or in real property of the Employer,
full ~isclosure of the reasons therefore
shall be made to the Commissioner of
Internal Revenue in advance of each such
investment, provided, however, that the
acquisition and holdinq of employer
securities and real property, combined,
shall be limited to 10 percent oE the
fair market value of the Trust assets.
(c) may make "deposits" within the meaninq
of Section 408(b)(4) of ERISA, with anv ~
bank includinq named corporate Trustee, t
or any savinqs and loan institution.
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