1972-06-05 - Laserfiche WebLink

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JF WITHIN 90 DAYS AFTER THE MAILING OF THE ACCOUNT OR ANY AMENDED ACCOUNT THE EMPLOYER HAS NOT FILED WITH THE TRUSTEE NOTICE OF ANY OBJECTION TO ANY ACT OR TRANSACTION OF THE TRUSTEE~ THE ACCOUNT OR AMENDED ACCOUNT SHALL BECOME AN ACCOUNT STATED. JF ANY OBJECTION HAS BEEN FILED~ AND IF THE EMPLOYER IS SATISFIED THAT IT SHOULD SE WITHDRAWN OR IF THE ACCOUNT IS ADJUSTED TO THE EMPLOYERS~ SATISFACTION~ THE EMPLOYER SHALL IN WRI$1NG FILED WITH THE TRUSTEE SIGNIFY APPROVAL OF THE ACCOUNT AND IT SHALL BECOME AN ACCOUNT STATED. WHEN AN ACCOUNT BECOMES AN ACCOUNT STATED~ SUCH ACCOUNT SHALL BE FINALLY SETTLED~ AND THE TRUSTEE SHALL BE COMPLETELY DISCHARGED AND RELEASED~ AS IF SUCH ACCOUNT HAS BEEN SETTLED AND ALLOWED BY A JUDGMENT OR DECREE OF A COURT OF COMPETENT JURISDICTION IN AN ACTION OR PROCEEDING IN WHICH THE TRUSTEE AND THE EMPLOYER WERE PARTIES. THE TRUSTEE SHALL HAVE THE RIGHT TO APPLY AT ANY' TIME TO A COURT OF COMPETENT JURISDICTION FOR THE JUDICIAL SETTLEMENT OF ITS ACCOUNT. ARTICLE VI. RESIGNATION AND REMOVAL OF TRUSTEE SECTION 6.1. RESIGNATION OF TRUSTEE. THE TRUSTEE MAY RESIGN AT ANY TIME BY FILING WITH THE EMPLOYER ITS WRITTEN RESIGNATION. SUCH RESIGNATION SHALL TAKE EFFECT 60 DAYS FROM THE DATE OF SUCH FILING AND UPON APPOINTMENT OF A SUCCESSOR PURSUANT TO SECTION 6.3., WHICHEVER SHALL FIRST OCCUR. SECTION 6.2. REMOVAL OF TRUSTEE. THE EMPLOYER MAY REMOVE THE TRUSTEE AT ANY TIME BY DELIVERING TO THE TRUSTEE A WRITTEN NOTICE OF ITS REMOVAL AND AN APPOINTMENT OF A SUCCESSOR PURSUANT TO SECTION 6.3. SUCH REMOVAL SHALL NOT TAKE EFFECT PRIOR TO 60 DAYS FROM SUCH DELIVERY UNLESS THE TRUSTEE AGREES TO AN EARLIER EFFECTIVE DATE. SECTION 6.3. APPOINTMENT OF SUCCESSOR TRUSTEE. THE APPOINTMENT OF A SUCCESSOR TO THE TRUSTEE SHALL TAKE EFFECT UPON THE DELIVERY TO THE TRUSTEE OF (A) AN INSTRUMENT IN WRITING APPOINTING SUCH SUCCESSOR~ EXECUTED BY THE EMPLOYER~ AND (BI AN ACCEPTANCE IN WRITING~ EXECUTED BY SUCH SUCCESSOR. ALL OF THE PROVISIONS SET FORTH HEREIN WITH RESPECT TO THE TRUSTEE SHALL RELATE TO EACH SUCCESSOR WITH THE SAME FORCE AND EFFECT AS 1F SUCH SUCCESSOR HAD BEEN ORIGINALLY NAMED AS TRUSTEE HEREUNDER, IA a SUCCESSOR IS NOT APPOINTED WITHIN 60 DAYS AFTER THE TRUSTEE GIVES NOTICE OF ITS RESIGNATION PURSUANT TO SECTION 6.1.~ THE TRUSTEE MAY APPLY TO ANY COURT OF COMPETENT JURISDICTION FOR APPOINTMENT OF A SUCCESSOR. SECTION 6.4. TRANSFER OF FUND TO SUCCESSOR. UPON THE RESIGNATION OR REMOVAL OF THE TRUSTEE AND APPOINTMENT OF A SUCCESSOR~ AND AFTER THE FINAL ACCOUNT OF THE TRUSTEE HAS BEEN PROPERLY SETTLED~ THE TRUSTEE SHALL TRANSFER AND DELIVER THE TRUST FUND TO SUCH SUCCESSOR. ARTICLE VII. DURATION AND REVOCATION OF TRUST AGREEMENT SECTION 7.1. DURATION AND REVOCATION. THIS TRUST SHALL CONTINUE FOR SUCH TIME AS MAY BE NECESSARY TO ACCOMPLISH THE PURPOSE FOR WHICH IT WAS CREATED BUT MAY BE TERMINATED OR REVOKED AT ANY TIME BY THE EMPLOYER. WRITTEN NOTICE OF SUCH TERMINATION OR REVOCATION SHALL BE GIVEN TO THE TRUSTEE BY THE EMPLOYER. UPON TERMINATION OR REVOCATION OF THIS TRUST~ ALL OF THE ASSETS THEREOF SHALL RETURN TO AND REVERT TO THE EMPLOYER. TERMINATION OF THIS TRUST SHALL NOT~ HOWEVER~ RELIEVE THE EMPLOYER OF THE EMPLOYER'S CONTINUING OBLIGATION TO PAY DEFERRED AMOUNTS UPON THE APPLICABLE DISTRIBUTION DATE TO AN EMPLOYEE WITH WHOM THE EMPLOYER HAS ENTERED INTO A DEFERRED COMPENSATION AGREEMENT. SECTION 7.2. AMENDMENT. THE EMPLOYER SHALL HAVE THE RIGHT TO AMEND THIS AGREEMENT IN WHOLE OR 1N PART BUT ONLY WITH THE TRUSTEE'S WRITTEN CONSENT. ANY SUCH AMENDMENT SHALL BECOME EFFECTIVE UPON (A) DELIVERY TO THE TRUSTEE OF A WRITTEN INSTRUMENT OF AMENDMENTp AND (BI ENDORSEMENT BY THE TRUSTEE ON SUCH INSTRUMENT OF ITS CONSENT THERETO. ARTICLE Vill, MISCELLANEOUS SECTION 8.1. LAWS OF THE DISTRICT OF COLUMBIA TO GOVERN. THIS AGREEMENT AND THE TRUST HEREBY CREATED SHALL BE CONSTRUED AND REGULATED BY THE LAWS OF THE DISTRICT OF COLUMBIA. SECTION 8.2. SUCCESSOR EMPLOYERS. THE TERM "EMPLOYER" SHALL INCLUDE ANY PERSON WHO SUCCEEDS THE EMPLOYER AND WHO ADOPTS THE PLAN AND BECOMES A PARTY TO THIS AGREEMENT WITH THE CONSENT OF THE TRUSTEE. SECTION 8.3, WITHDRAWS. THE EMPLOYER MAY AT ANY TIME~ AND FROM TIME TO TIHE~ WITHDRAW A PORTION OR ALL OF THE TRUST FUND. IN WITNESS WHEREOF~ THE EMPLOYER HAS EXECUTED THIS AGREEMENT~ AND THE INTERNATIONAL CiTY MANAGEMENT RETIREMENT CORP. HAS CAUSED THIS AGREEMENT TO BE EXECUTED BY ITS DULY AUTHORIZED OFFICERS AND ITS SEAL TO BE HEREUNTO AFEIXED~ ALL AS OF THE DAY AND YEAR FIRST ABOVE WRITTEN. CITY COUNCIL OF CHARLOTTESVILLE~ VIRGINIA BY: MITCHELL VAN YAHRES (SIGNED) MITCHELL VAN YAHRES~ MAYOR ATTE ST: CLERK Of THE COUNCIL t NTERNAT I ONAL C I TY MANAGEMENT ASSOC I AT I ON RETIREMENT CORP. BY: ATTEST: SECRETARY