CC RESOLUTION 2603RESOLUTION NO. 2603
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EL SEGUNDO, CALIFORNIA, IN THE MATTER OF
ESTABLISHING A DEFERRED COMPENSATION PLAN.
WHEREAS, the City of E1 Segundo has in its employ certain per-
sonnel; and
� 4 -
WHEREAS, said employees are and will be rendering valuable ser-
vices to the City; and
WHEREAS, the City has considered the establishment of a Deferred
Compensation Plan for the said employees made available to the City and to said
employees by the International City Management Association Retirement Corpora-
tion; and
WHEREAS, said employees often are unable to acquire adequate re-
tirement security under other existing and available retirement plans due to the
contingencies of employment mobility; and
WHEREAS, the City receives benefits under said plans by being able
to assure reasonable retirement security to said employees, by being more able
to attract competent personnel to its service, and by increasing its flexibility
in personnel management through elimination of the need for continued employ-
ment for the sole purpose of allowing an employee to qualify for retirement bene-
fits;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of E1 Segundo establish said Deferred Compensation Plan for said employees
and hereby authorizes its Mayor to execute the Deferred Compensation Plan with
the International City Management Association Retirement Corporation, attached
hereto as Appendix A; and
IT IS FURTHER RESOLVED that the Mayor may, on behalf of the City
execute all Joinder Agreements with said employees and other eligible officials
and officers, which are necessary for said persons participation in the plan, an
example of which appears as Appendix B.
PASSED, APPROVED and ADOPTED this 7th day of January , 1975.
ATTEST:
City Clerk
(SEAL)
l
Resolution No. 2603
INTERNATIONAL, CITY MANAGEMENT ASSOCIATION
RETIREMLNT C'ORPORATIO
DEFERRED COMPENSATION PLAN
Amended as of June 28.197-i
THIS DEFERRED COMPENSATION PLAN, hereby established
hr- rei-,affer the Employer; by agteNments with the International City rv,anauemn-w >o ,auon Retuern'-ni Corporai,on aw with ih
employees, officers, and officials of said employer who become party to t,u, ayreemcn;, b; reason of a "Jo,nodr AgreemP,rt" ssgn.-d
at this time, of at some time in the future.
WHEREAS, the Employer has certain employee, rendering to it valuable strvices, and
WHEREAS, the l n,pl,t,•r-i is eble to provide its employees vvith certain h,- nefres unoar this Plan which —SU -P rn Ii-,(:,e pariicipanric
employees ri:-twnahle retirement s,,cunty, and
WHEREAS, the Employer rece,vos benefits f, om this Plan by increasing its abihry ic. a'tracr and rcta:n comnct °nt .srsonnel and by
mcieasinq its flexibility in petsunnel management
NOIN l HEREFORE WITNESSE1 H that the Employer Tres established th;s Interneriona City fe nagement Al'Foc ton 1:911rerlrtent
Corporation Deferr. d Comperisdtion Plan and has caused it to be executed by the of`.,cial aifixing his s;gna.we on behal- of the
Employer's governing body.
Conversion Provision Where an Employer has previously est�bhsheo the IC[,1A -SC d-�t.rr -d LoniiWnsdt,or, plan for its en,ployees,
this Plan sh.h sir „ereede all pr Jious documei-its and provisions thereof exceoi ti,a � •;,mg deferred compensation employment
zg eernerts will runtinue in fell force and effect in lieu of Part I of this pian, a-id ar -i,Cr, h&ve the immediate force and effect of n
"Joinder I c ieeme t” to this Plan If the Employer and Einp'oype d,sire to emend tie tee <±, -,; Ceferted Cor,ipensat c,n Em-,loymen;
Agree -meat by substituting Part I of the- Plan therefor, this may be done by execur„m of a "Joinder Agreement ".
Attest for Employer:
E.r,nature o' 1utno, dOffic,al
(Seal)
.app, ot•ed as to Form•
A,tcrney for the Employer
Attest for 1CIM - l?etitement Corporation
:n•,neiure of : tjthorized Otf icral
(Seal)
For Itie Empluyet.
By*_ — --
St,
nature of Authonzed Official /Date
P.rtrt home and T W-=
For vie ICMA Retirement Corporation
By
Si,,,,n,tute Aut,-,rzedOff,cial /Date
a� t '.7'S9S: iii•" ��Ry +:�ri#r= kM`:i�`b'...:°`a..li ;$+'z>i� ws:. aia' "... ,..�a'1s'e:'"rs „ si i`•'.:PYs i 7
Cnmplete the f,)llow, ,g prior to mailing this agreement to the Retirement Corporat,o,i
Full Name (City of, Cuunty of, etc ) —
Z itie cif Off,crdl to whom cn, ri,spoitdence and rer -sorts are to be marled
(not name)
Address- (include -rip code)
Employers' Feder 1 Tar. Identifrrtior. Number
IPM
APPENDIX A
`R
f•
RESOLUTION NO. 2603
PRELIMINARY STATEMENT
ESTABLISHMENT OF THE PLAN
AMENDMENTS
The International City Management Ascocration Retirement
Corpoidiion, hereinafi r the Retirement Corporation of ICMA RC,
IS a uonnrofrt Delaware Corporation It has been classified a, a
tdx-exerrlpl oryanrrauon under the provisions of Section 501(c)(3)
of the Internal Re,.enue Code As an aid to the Improvement of state
end h"u.uclpol adnumsitet oil nI general, Tire Retuement Corpora
t on is of gamzed for the purpose of receiving and mvpsting deferred
compemaiton funds of stai_ and local ciovernmenis and then ieleied
and co,,trolled public interest organrzal,ons which are tar exempt
under Section 501 of tjru Internal Revenue Code, hereinafter
referred to as "Employers ", to act as trustee end /or agent for the
c0lectrun and rptnvestment of the income therefrom, and to act as
agent for such Employers and at their explicit direction for the
distribution of the funds and assets of their accounts to their
particirytttinn Employees to accorridnce with options provided In this
Intr•nr,,orial City f'".ar „gemr•nt As ;ccialion Rettien,ent Co pu'dtion
Dofe'rrd Comp,-r's..tton Plan, herentefter referred to as the "Flan ",
or 0,e -ICMA-RC Plan ".
The ICMA -RC Phn is sit out below in two parts I The
Deferred Cornpensatiur, Employment Agreement, and II. The
Master Trust Agreement As set out b,lov,r, the Empluy,-r adopis
tht, pi,m as rt aorerment with the part cipaling En,ploy,es and
ICrViiA -h C, end ,ht- Emit „u;ees shall Nprticipa e ill the Plan 1hroucli
tl,a '_xf- cution of a Joinder Agreement, which by its terms
nicnrf'.ttates all of the pruvicrnn, of ti,e Plan A copy of Ili,, Pion
shalt I,f• suppli'_d to each Employee for his study and unrJer't,.iul,iiq
pr,or iJ h's ,a.ecutrun of the Joinder Agreement th,- Employers,
thrOuuli their f,-- itiripaUoii rn the Plan, express then clp,irt to have
thf, h i,r`fi, of 7hi, con,inued luyaty, - ervic: and c',u,,-1 of !heir
Empl- iv--,, i.-id to nss,st ?hpm in piovid•no for V,- ccntin,irn, of
old eo, dehpnriency, dis,,b hty, and death
Thi• flan may be amended from time to time for pui,,ose� of
P<, nririn its cuniorn,enre to the: reguirempnt of any aoplicahle iav/
or rule or tequ,,t;oc1 p'irsuant theieto, and to ptp- prve flit,
tax -err, npt status of the :'Ian and the Retirement Corot,'rafwn No
arnpnonteni may either oiit -rtly or indriectly upotate to deprrv,- any
partic.; .=lint, t_niployer of r,; hrnp_i,cral tntpiest Ili the Trust as :, rs
then constituted T',c Retirement Curporatinn will notify the
rtdtirc ;u+ting Employers of any amendment to this Plan no Idtpr
than ' -ty days prior to its effectrvp date Arv., wch amendment will
becon,r effective after the expirat,on of that period of time, except
to three Fmlao,urs as nr„y file an objection No amendment
p'opo rd by por-rcipevng Employers ,hall b«- etfr_tive unless agreed
to oy the ICMA r'etrrpment Curpuration over the signature of an
Otficer.
PART ' DL FE�,RED GONIPFNSATION EMPLOYMENT
AGREEMENT
1 Dr `orrtd Com;,tns.- trio- Imt,al D- `i :i�i0 t- Future Chan�rs
1 1 Thpie is i,u limit on the ;,mount or peice•itage of "lip 10:at
,_nm;ipn,a',n�• of the Fn- ininsre %%,hirh may op cfp;p•rpr.' h/
Ill.- Ernp!oy'•r neat this Pl.,n
12 For the- 1 ur;w”, of this Plr n tiW olirn,'rng defmr,rur, d;'irly
" I otdl con I i,ca,ron'" r. fit,. tot, I of cornppnsotwil to he
;t;,d try t!,': r- -,pruyor for the cptvices of the E,nplo;'ee,
r. -q r,ilesa Of Th,, ir.rms u<prl for n', compoi :tits, a,, Tot
px„n,ple, 'b,.�e } y,” "iii addition to h3st, pay,'" "rmployr
.ortrihut,nrr'.," ctc ,
b ' r e,•nr,ensation" it that amount or percp•ito,�e of
III, tot, -1 cnnippi- eitrun of ilic Empioyp, which. the Ei ploy, ,
c-ripntiy defprs from the pdympnt to the Fniployee, anti,
ro,fer,d, de.r,osns semi, into a Defer ed Cnrtper,•du,ar
i +r r.uunt With the Helirrnrt'n; Cu,poratrun 1-90+' li e tprnt r f
•his Plan. D':ferted comppn,atfun may n',clud, amount` hone
or percentages of both "base pay" and "employers
contributions" or it may Include amouris fior,i or
percentages of only one of these cornponenis,
c. "Current compensation" is that portion of the Employ -e's
tofdl compensation which R not deferred conpansaaon as
d'.f -reed compensation is defined herein; and
cl pay " is the dated sal ry of the Employe^
1 C Th,• dpterrninatio,i of the rr.+,tal amount or pe'centage and of
r,r, furu , c'rar,je in d'nnun, r-r :cfntavJ of de'pried
comuens�,ton must be made. before` the beyinniog of the
pen"d of service for which Ili( compensat,on is pavable
1 4 -1 he amount of total comppn,ition may he adjusted from
time to time without aherinq the 'arms of this Plan
However, the peicen;aye or Fn,ount of deferre=d
cuing- nsarlon may by ddju'•,ed ni acwrd,'nce with 1 3 a'-•)ve
Any such sdjustment of the perlv'ntaye or amount of
d "ferred compposa +ion shall bte communicated to the
Fnip!oyer's agent, th, Retirement Coiporat'on, and the
l X,,I1L3 in the adjusieo p,•tcentdoes or amoi -,its, d change)
from the prior Pxisting ; p,ctntaaFS or amrunts, ,hall
iherr; tier be made by the Employer into ti5 set,re it, it
iorpoi ,lwn Account.
2 _)eferred Cornppnsetion Account Uor;er thn Pian, de-,-r -d
compe ,isaiion shall be credited and paid into the Trust e tali +i,,•pd
and rnair,tampci with the Intr•rndttona! City Ma laypnient As,
Retirement Cornorelton as Trustee Tne Rei•r -mem Corporat,Dn is
a lronprofit co- porat'on formed for the specific purpose• of r. ,•es,t "(4
and Giiirrwise administering the f.'nd, of -,ardTrust The Trust niav
oe o-voked at any time by the lamployer, and upon revocation of
said Trust, all of the as <vts <hp,eof sh.,ll return io nd iev --t iri o
Eni;)lw -i. Tne Empinter <hall kre„ rL.ura'c hook- and I. co _.
vv,ii• n- s;-,p.:.t to the Ernplovet_'s total r.onioe,i5af,un o-uthei r4
neu ,+,: dno wrih reyrect to dnutunts paid into Said Trust
3 Ownt -iswp of Flied,. K'+.,ther t'ir• ErnriioVep nur any hp ,ef .,, .
t1,�r.;Oi small hove any interest w';1„t,.oever in In,- funds paid into --lit
Deft•rt•d Gu,nrtensatron Arcount or VI the -iCCrlriilrietie 01 -0',
increin -nv, on <uch funds, which shall at ell ',,rile,; r,nain ,
of the Employer, st,bje ^t to it- absolute dominion, ccnctel, i
r>,-,ht o vvgiidrrwal until uc•i tine .,s the funds or ac <rts e' ,ht
ACC tuns are .•it, d,st iburt,d tri the Fmrdoyee u, a. cordarwe with ,ne
pro�isrons of this Plan Tr,e on!, -auont of trip Employer to ,t,iy
d'••pire -d compen,Ft,on r,_ ccnirecweJ only, the Employep hav'nu no
prri,,rpct or special intere,i or cl-m, by way Of truss, ,r-nu-iy, o-
ctiimv;,su, in and to the !,e -cific funds and ?s,ets hpid 'r, inn
Dei_rrrd Compei,s,�ttr,n Acrount The contractual ohltya :iort< of the
Emo'o,rer to pay the fund- and a`,pts in it. Dpfpri,d Cornl,t , —,,or.
Accu.I't to the Employer, or t, , 'I-oef,riary on the aj,pl,cal,le
distrihr,-iun dale shall be a c•rntt' u• „g nt,'iu�f,r,n up r, ti,f
Fmr'nvpr, dno s',all riot be , Itev-d by r ^y au'r. n : ni 'r,- „•••t , t,,e
Emnlo,•, -r ; n d . ry •-tihei p -rty, e.,cupt a' proviri�r rri ' , 01
', nh 12 r'f this Plan, Frid <i•,a;' no'_ ,r' - , rctpr to a 1, i,,1 -
by cim- rlfn.pe, or rpvnratiun of ,h, Iru',i rt.:eire,1 tc "n I ,; r,
'n , _,•i or b; -f'„ r —t in of the T•,,st Fend to tb, c -Tip;,) •• -r T'
p - rwTcri nc of this Pd byroplt sh, ,I s jperse0p and con•, ')I -, 0•1,et
i,•rv, ,o or this Flan which could In; im,-rpret'_d is 1t'e ,n cnnti,c.
fl.p,eY, on
4 /=d it iia,rai,on of Funos The fund, der•o "led m too i:• - r',•rt
( nprnsa :,on Account Jill h,. in,-srpd -Tied rr,';J r,,:: !i',
Ret,r, ),er C„rporarot, as pr0,rfed tot nt Tile
d� rr!le 1 in f-drt 11 of the, Pi' n n atw i'ton.a•, w'h,ch in .t • r., '
d'srrrt nn r'- d, -ITr1 dr,,ncblr, alit ti n, •- s
hrnrtri,on (lov.nl,r,g tilt' IMp It —rll -, such runt'• ,!,•, t -r,
sl ,II h;,n iptlprt the tl im or lus rp ilvori fi0m 'w ,,, 'r` ,lei i,i ;
rein,, -ri•rt Jil—tcf. '1 „. lieu•' Fund n,ry b, -0 -11111 '.i -d % "Ilti
,)'tic,, r't- hnahrd by the Ttwi, -earth oth -r , =ml luy, ; 1 --;, 1
Flan.
—3— APPENDIX A
RESOLUTION NO. 2603
5 Des,gnation of Inve,tments Each participating Employer, filing
advised of the preference, of, and for the benefit of each of Its
,Artistpating Eml,'oypes, shall designate the percont,,q of the
defe,ted comnensatton involved which shall be ,r,:esied In thp
,esprcl(ve types of investment funds (accotints) of the Reilrenient
Cutpotat,Cn, such <, nhe Equity (Va'table) Fund or the
Fi,ed- hicrorna Fund, unless the laws of the ,- pphcab;P stale or loral
qov•' n'.u•ni iP,lurie othairi,.se, In V0111711 Lase tho,•' Ira'„ th'll , ,•vi iii
F uu„P elt- ctions to cha ,a,; me percentaw to be mvest"d In each
type of Fur'd may ot;iv lie made prior to and for the lent
suck eedlny annual 17Pnnd of serVICL for which the compensation is
poa, nit: by filing tvr,tt_n noise iherpof with the Retnrt-n Pill
Corporation Such notice will riot be effective until received b•' th'-
Retnf meni Corporation
(, Petirn. -nt of Deferred Compensati(o The words '•d,signated
pate ", as u,ed in this Paiagraph and in Paragraph 9 of this Plan, shall
mran the des,anaied age which apiledrs in thin Io,nde' Agie -ntwii
v-, cuted by the I „.rt- ctuatmg Fmployee T ie'P wn•ds, as u•ed in
this Pardnrahh, In Faragrof,h 9, an-; to the Joinder Agreement, shall
also ,ncludp th• fnllrnn'ing +nnt`noot wpetil,on thoietn "or later, in
ihr sill' r11<CiCtICIn of tnL Fn),iloyer, a, tho e id ,_t hi, omploympni
ryreemEnt, If Employce continues in the employ of the Ennn'oyer
afier he atn-ms 111e disfg -,aced dge ” At such time as the Emink -yee
rhrs the de <Ignaied ay', ht tonnes permentntly d,stbled, or (,es,
tvhta.hever occurs first, he, or his la nrftcnany of I,enehciatte•„
uommk•e or estate is /dfe enntied to recwve payment to the Deiern -d
Coil tiler salion Arcourlt oulsthridi nq on the date on whit++ one of
ih: f.neyulnq occurs Payments occa•.toned by the Employee',dvwq
re „Lhed tf e design-,t, i au , becoming peinidnrntly dish', i-1, ur by
;It death shall be marle in �cco,dafnce ivrh the plug sia,ii, of
rir r,n a},h 7 hereof as'ollows
a Fayn enls nn r, ;n, +hl v, quarleriv, sprit,- annual, or annual
pd1•n'er,is
over it e pt i od of life r xpertei.cy of toe Employe'- In
acr,n,dgncr with the lutlowiny ptnredurc
Upon roc( !,trot the dt•sirriatel are, or bf coming per „tan• mly
d;.- nliled tram pt- iwanent full -tune empluynient, t%hich, -v, r
first occurs, 'he Employee's Info expectancy shall lie
Litarimnir�i by rrfetence to St: ndard U S Moridlrty Tali, .s
Hi, amounts Of assets and accumuldttons in the Dcf„rred
Cun,ppn•a•u,n Account shall be cumputed iuyetne, with a
•e,- ,onahls late of return on sa,d l,ssets, less the amount of
exparled •,,un ;hly dtsinbuUUn, over the He expectancy of
the Em,,,oyee, a„d a monthly amount shall than be
matl.eni3li „1!y ortLrmined, :he p2ym,�nt of Ldhich, In equal
monthly tit ta'Imrnts over The pef,or'. of the life expectancy
of tike Einplo, ee, ahall completely deplete The said 4ccount
at the end of the last year of lift- expectancy, or
b f ayrnrnts to mcnthly, quarterly, semi-annual, or annual
I,, ;rments In , cc( rdarice vvO ihr fulinw,nq procedure
Unless the Ernp:co,Ws employment terminates prior to the
erne he atl.7in„ the designated ayt, amounts rquai to the
lit ,t'i,ts rir t,vtd by The Finpinyer, undEr ri-im- rirnt annuity
pu',cn•s s;•r{; or, paid to the E tnp!oype, at such lime n he
aUain• tht' d•v,,n,,lcd ergo, or, in the case of d(, oh, pdympit
To hi; i,wwfic,ery of ber,t'I(la llrl, nOITnlnL,7 n, estate pursuant
to the prt•ci-i 1 t> pruvtdpd 1r, said policies and Par ,iJraphs 7
and , of ilas N:e.n, or
c Payments In n- wrii1ly, yuartprly, sernr,'nouFl, or annual
t,"IAll —lets over a }ier,od of not ex -eediw, ten (10) years, sa,d
i ynwnts to ihr -ludc .. r.•aboo,Ible reluin or, the fonds, assets dnd
orC,i.nlUlono,,s in tht DefPried Cr „nm,nspt,oi, ACCUL111t, Itss tht
anlr Mill of P> i,r•LtPr! nnnothly, quarterly, cam,- c,nnual, or anwi,il
disi,.1w1 nri, oven the said ion (10) year penrd, or
d Got- Irmp ,,tni payment
7 c'•'•Lt„ -n of P4tihud of Payment The ntnihod of pevment sib, ll
I),, seiecled by ihr' Employer, :ctntr} thi nurh Olt HPttrF Ire nt
— Y —
Cof l,e-evor, t- '•s oily authonted eoent, due consn'rr, tirn h,,oc
a ,ten ti-_ I -a- ual cifCLJ,, s,arices and family oo, „aeons of
The cmp'cy ?c I rEgdrd, the Ernp'r;y'ec nle.y h^ c,,n,ulted,
hov,ve , hr c, ;i no voice in ;he decision reach, d,
E F =invents it thr E en-, of Death
Durinc c Period of Distribution In tit event of the
dunnn the pp,lod of cl.- rlbuliun, the
f-i- plo, ciary shall ii-• entitled to ,ccei,e p,,ympnts m
ar-currle 1rP avlt`- the payment methcd being empluypd m the
time of -h- Gm;,'uypes cleaih Wit'i the consent of the
Employer, - ct'•,r through the Renreme .t Corporation as its duiy
autho•ize•f ar'nt said ti- .Pf'crarr mry elect to trvave 2
lurno -sum ,r of mslallinent ;wyments
b Pr,ur to F.sinhution In the evrra of t`ne death of the
Fmoioytc o•,o' to Ur• d,st,nhution, the flit as �-,d sset of the
Deferrers Co-npk ns.ati(n A:,coa nt shad he raid in accoiecnce
t.tvi o„- n` ,, hods des( rt! -c m suf•,,, rayrat hs c, i,, L, or d
Of Prragrap- n4'oof ThL selection of said method shall be
mace bs ; - Ertfduyel +chug through t`ne R, i rtn,e,it
is oily author,_• -d agent
rl ('.,yrneri Da1,s P-vinaa'is s tail cnmrner -e on the first dry o1 the
r -onth, followlnc the atto,nn,eni of ihr dr.sir, iateo d,l,, Or later, on
the first d,, o- -ne month M,er tie end of ht; rrq,lu:mtnt
P,irpPment, if r,•,•oyee corn,nups in 1hp employ of :hr Lmplover
art,-r he aitP,n< ,: desigt.a,ed aqe, or 'tiae(vts • follo%miq Iwrn,,;npnt
6 ,lbi!Ity, or o- Tr and, In ihr Lase Of ,n;tallmPnl U�a'mer, <, shall
be r,-,-d' cont'n .n,,s,v there; iier on the h,st tidy of e„ch s',cr, ,,,nc
mnt,th, o•, 1- _ =wit qudrie,ly, t'm, .n -wdl, or n' ✓al n,vrrent
in, i- 11inen, r. �r, apph, -d, 0hen cc, iiiwiousi ,r•ere.-rtpl ntt:,c
fwi n.,y of --i . i c, -ecIwg month which hew is the ;ikon ; .r,od
h,-ia- iptly, _a: , involved unid socn time ds (hc i , -r lee
Con'pe',•a tor, /- cc -in, is dep:pted ,n cis enilrety
119 Disbu-slnC n - -,2 'lid Fetnr,,,an( irirGUr9„)n ,fist• rrl d,
of the C for of d,:.),. -ony par i r ,; t I r
ul,,riate ohila<ro for mal -ing such pc„' Pr „s, Ito' d - , n ail
remain with the ErnaloNer
1 i ACCLIr, -„ _•^i Dwing he Distribution Period DUr,r,q thy.
po,,od of d'•--riz,_n, the ":f,,ployee or his bene'1c•--ry or
5i- -,,( ,wF6nes, no—or—el, or estate, as the case may hr-, shall coni•„ue
to h', creciti- d veth all the nupres,, accum'.lairons, and , L'en,e rr.
oil the undis'rio„t-d funds ant: assrts er the f)- ferled Cc'T. ;re,,, ;,on
f,ccnunt, onni su - 4ccount is r'eplrtrd ,n it,, r'ntu Ety.
12 Section 1 - rminalion of En,pleN n.ent Upon tef mot; it:n cf
the Frinloyr:'s • - -.,cis, for any rr -sun ether bran ci,_ath, ncc 'unc!t,
asset,, and a.,cu-iu,, tons iii the 11off tcd Coripensat,u • 7 r u•,n;
sh -11 not h- rz - red to dr, rcCJLInt vi; h d ne.v empl -,yt'- Cl tr,
L-Fo ;,'ogee, and, _ ••od, they shell it-ma n n, ;he o'ryrt,al
cSS• is of the ol(' _ ;duyri unit; , cl, i',,ip r,, they Pte tilt,, Ii „fro in
acrordPnce v I:r prcv,sinns M tills f "i.n, ( cept a< ora• '•f, d in
Si -teen 2 o` this Fj z-oraph
c,ctio^ 2 1-n—, of Enlr;oymont tv,th Cuns dt,d:ir n iwi% P-•n
Ernoloyers- Tr,,=:- ,;: AtpPrmeni
nl,ln. events c- �'o�r�r•, -caF „s eny doynne,tT va,an ;, n -:a 'nil,, a
p ?rnEln ;tina ,�� - ICMA -RC De --tred Crnnpri.,'Lun Dien
ih- past Emp ovc, t,nds 1h,-it It hP< n,) }•rESe it Or f„1u,t Ilk i n'
fund}, asspis a cc,imula mn•i n. the said Acctwnt fir ,ne
{;,;yin, -rt C 1t` GP -I or al Cr en;i rrs r•r I rir anti silo r ; ,, ,,r4'L.
vv int`APt” , III bt ration of it, de-lre 1J avoi(' t -ic C „n -.', ,, ,
cr,, -,n- of rn- r;, -ng rrrords, ,nfl wccivinc„ r>a
and filing , n•_ reoort< of tl,e Rehremrni Corpn, atu-,r,, an-i 'n
cons d- r„t,rr, C' �,_ -dlnrl the pc 3,h'e ft tu.e ex }yeses' i',riu,.in n •Tf
En,nloyel's (o,•nu -r,y eunira•aual rights ILa ; ;Dynan, of c„ ;iris E;
eOnli'l— P.e1.011 C- -„ tPlitemeril a, hen -,n ptovined III ihr k „ rir
„ny pos1,nb1' fu, • - r..vocr,t,un dnd w,thdr,wal h'/ 1111 pa.; F' ,, -uy.,r
of th( fund , e[<_r- Ind at r limuldtiuns in the- ,a,cl ACCnnna, -')• l.-•t
APPENDIX A
RESOLUTION NO. 2603
Employer may, at its drecrelion, authorize the Retirement
CJrIM- atton, d, its agent, to propocc to the new Entployei that the
fanck, ascots, and acvurnulations of the said Account Lie transferred
to the t,vvnt•rshlp, control, and tight of vothdrdwel of the nevv
Emrdovcr, and to do co in the event the new Employer, in
cUTISldc,al)on of tl a increased value of the Employee',, services by
r,ason of thr erper,f•tce pmwed whtb• tit pact employment, aqw-,
to acc,,,t came, and the rv,pectivr Employees and Ilia Employee
s -g1, an - ppropriate form of Agieement In w11t0 the nevv Employer
alto r„'i rs to ;ccnr,c t!'l` rotit nutn0 conti.,rcu, I liability to ,lay
deferred cdm.pensat) -n a transftned ul,on rrtirement rf the
Fmpl, vie and the Ernp,k)V,rI releases the past Employer from aid
contmomg ohhgarton to do .arse
13 Losces The Employer liall not be responsihip for any loss due
to mv0s,ment or failure of Investment of funds and asse's In said
Dpfetwd Compensation FLCULint not shall the Employer be required
to replace any loss wltdrsoevet worth may result from said
invesin-ients
14 No )dsslgnabi :ity of Di-ferred Cumpensdtton The Enlpluy(
durntn his hfeunle shall not be cm—titd to commute, encumber, cell
or oth -revise ritspose of his rtrhts to ,e1-tvve deferred c ,)mpensauon
uv,rnf its ptOv di-d for hr-tte), and the right thereto shall be
non.-s, ,j, hie End ndnil ; isfelable In the went of my dttempted
aSStGm), ,tt or transfer theft -of, the Emplover shall have no farther
hdbt]ty ,der this r rneer,unt
15 Pdrttt_,Itaioon tit oiler•, Em )IoyLP B,neft• Plans Nothing herpm
conlawed sh -11 to any nt; nner niodtfy, Impau, or affect the Pxt,t,ng
(,t itwire rtuhts ci -h „II to any rildrner modify, intpdn, or a,feu' to
`xistinq ur furttte riq',ts or imere-t of the Employee (d) to rrcewe
{nl,,ioyee h•_nrfrts ,c 1111Icn ht would utlwrwts0 be entitled, or
a, . ,'drvr,pa' t to Ally '111,010 ,trmtor, oidn, it belnq unrietstuuo
it ,h' Ii(,!I ,,,d n)t•nct, of It Fniplo ;'ec ,c any crtt,,toyei
hpnefw r• r1- 0 pr„'tult., It ur ben••fici�iy tit or un(let any or a I skit•]
rl„ ), It- In ciwely shall ;r iiitnu, r1, full force and FffOct unnttp,trrd,
a „(t ih, shall have tho right at any t-nte hew,- ter to
1)ecnm, loony and ail we h glens
16 P- ftnmons The nir3run ;. of any terra or term pl ta•c, rluusv,
''r cr•n ;. r r1-• used in tins Agr,•trlw ^t, which is �;so L-scd in ;he
t ,, Lit of the, Retir"meni C'orr,t)rdtion, •,hall be df f n -d is th e
are dei,rtpd in ARTICLE 11, ti•ctirn :! r-f the 6y- Lr,vvs Masr UIIW'
pronounc, vvh „n,•),rr ,cPd heipin, include the femi;ene pronouns,
and the sr,t{l•tiar ircludea the plural unless the context reL,unes
anotl r_r vie3ning.
17 Validity of A;,etment This - (Ireeutent shall not III, valid or
. ;nf(rrt_ bUP Ltrlh•55 c , - -ied by in cflteer of Employer, authorized, by
the t•ning holy o: ,;ie Ertr)loyer, ac, for emmple, the City
C Aunt• , -A 4 ^eels tI11s Agmempr,t I, impleroenied by the execution
of the cinder Hf. ement.
FART II MAS1 FR TRUS1 AGREEMENT
Af,r'EFMFNI made L)v cnrl bowmen the FforemriedE ^)pioyer
d r„ Inrt•mmi, cal G,ry Mena�mpnt Associai,on i3eitrement
i,orj,cl, ;t1on ! )• ru;n -itipr t],; "I'tuctpe' or "Retnem,•nt
Cot potation”) o nn•iprofte corporatror orgonized acrd existn,q
lion- •I,r Irvti of trit' late' of DPla,vaw, to, the purpose of tm'estueg
r td 0.1- 11vvtst .dots„ ,,.ling the fuM_;s set aside Uy Linployers to
conn,•citon ,vtih Pct Corripi matiot, Agteemtntc wrtL
rinployer s
WHFRFA',, The Employer 4-• ir,-s to enipr .ntu G1,, errteni, I ^Jlt p,
Its Fm i'Uyw•s v,ht••ehy its FmpinyYP,, dnn,t to defy{ pcyI„enis of
so- cite -,I I,01r entarj s of or arr,utt ^ls from their tULI col'il,ensetnxl
es "dol",ried compens3t)nn” is defined In ,ate' dgrper)ents until the
occu 1,a,, of cerlam Pvents,
t'V'_RLA_S, to order that thuie vitll 1,e ,ufficwnt fund- ovo,lal IP
to dr._I,rnie the fore -joing rot” rial uhhgaitons, thic Fmnlo,,,r
J
desires to set dSlde periodic a•-nounts equal to the perceritoge or
amount of total ppnodic compensation deferred,
WHEREAS, the funds set aside, together wait any end all
investments thereto, are to be Exclusively within the dcrur,lon,
control, and owners'iip of tht` Employer, and subject to ire
EmploVer's absoluip right of wrhdiaival, the Employee having tic
mterf,t vvhatsnvver therein,
NOM THEREFORE, the Agreempnt witn,tsseth that (r) the
Employer v„ II o „y monies to the T-ud1- ^ 1^ 1- , -,IacPd to _'ef :rred
::(Impencatiori arcs unis for the E, .ploy -r, (1)) tL.: 1 ruder r-,n•enants
that it v,01 hold said sums, and any nih,r fund) vv!' ch IP may r,cf tvr
]eteundei, I ) trust for the uses and purposes and upon the terms
and rondttinns hereinafter stated, and (1-i tIu- parties hereto dgree ab
fdllo+vs
ARTICLE 1. General Duties of the Parties
Sert on 1 1 General Cut) of the Employer l he Employi r shall
maFe reouldr periodic pavments equal to the perr-eniogee of or
amounts frnni its partc)pating Eniplcvecs' to, ?I r,?rtod,c
comFensatturrs which are tit f, -ried in o(co• „Iic° with tLU. it rrtc i-,td
conditions of Dpferred C,)rrl e,r:ation -Em,)loyrnent Agre nients
with ,uch Li I, 'uypes, or'vill-I e) , su]ser Ount mop fic thin Thereof
Section 1 2 General Duties of the rru-,ee Tre 1 rust, ” ! ,•
'told all funds re•(-tvpd by it hereunder, vvlw;h, loyttlie, vvh -. the
mc)ne thprLfrorn, shall concultm ih_ -trust Fwlcls it Ehs,11
aumtnicter th. T tl'at FI11td5, 1-011• -1-t the mcr,me t'it -Ieot, anc, ria.e
p•-yrr_ns therefrom, all as heiet- fLer ptuviotd The Truest =e EFrall
also hold 311 Trust Funds which are Ira islffied to it ac sure,-ssor
Tr(,Etec by the Emfu,;yer .,on, Fxtsnug deterred n ntft,_tt at u1,
anauv,en,rnts with its Employees wl,-rli moet the ,smc IIot na;
Rtvrnt-P rodi• revliwem••nts vvhtrl, uoverr t )a ICtI'`4- t D , -r„ r'
Ortiuenstvnn Flat S,ich Trust ro, d, pall ]e IJ a 1-,'t',,,
,e -m, and prove on, of -his Age,. rent
AR i iCLE II. Powars and Dutiv, of the Trustee In Inv ,tmer t,
Artrrrnrstration,,nci Disburs?rrrnt of th -2'rru-'t Fund
Spc-too 21 Inve•,cmtnt Fc,wpts and Cu•�es o' the iru•. Th-,
ru,iPe ,hall i *av the power in its oibcle,wn to mveet alt_, t, •,t%aa,
The prti,upel and income tit •,he Trrct =und end f•:rt) t,It Iru",
Ft rd n,vesitd, without distinction hetvieen r `rnc,pal and rI,_ ..
orh ecur then oI to nthpr nrc,)erly, ree; or pf.rs.)na', r ,t, pr
c „ua e, as the i- rustee shi-il deem advt"r[71 ineludmo, ;,,t 'tot
hmn-d to, stocks, common of preftr,PG, U I Ids, let„ -nv_n nu -ty
and Insurance I)_)Itc,es, mortgages, and ,thLi evte, t -E c
Indr.')u dt,0••s or r)vvnviship, and tit comrnor 1, ust `_m1,, of .:to
fin,maa; of investor --)t Institutions, wit, :, .uoh Insolul nn� eci, to es
T,ustee of such common• 1.1si funds, tit .e;. late For di,fu,- TV,) ^
o' funds (r.ccounis) mcludl,Ig equny, frpd-i ico, -,(, Pir'th., F i i
fulfill iequrrrmenis of siett• and local govprn-im ,1,, 1 'r•v� , E t= • r'
With Sucre a;)r„oved firldnclel or irve -i .vr.t tnstt *' ttcnE ,t ts,-
purpoaec, [his (lint Fund ma , be eontmtngt,- vvh, era
ectabhchpd by t,te Trlist -e unri-r it form rt dgte.•mr -,tt `v ^•h (`tl.r
En ployprs In making -ich mv, st ntnis, ,he TructeP 1-h•,” , .,r _2
• ubp c "I ; n,• time to :1,y Lna: , , .,t t .+u,1, rmr q t',r r,, t
Of sur_h funds Investrn-nt porve,; and nnrc rnet.t c)acI 10 d
,n th0 Ttustep by this Section r -Py hr_ uP:-q&i ,, d uy the Ti,.ct,,
-1,y i ink, n sur,,nre or itu,t c.,m•)any, vlr ,iy e.vi.s ^nu -tit ad,.crr,
r1, •nagr,t or r,;p tl ,plecied by it.
�eclicnt 22 1- rimliw,l rattvP P.- iis n) t!,,- Lr astt -e 'I 1,.) 1 ;ee
,hall h, ve th,• pmwr to its dr•,c•P "on
(a) 1 o purrltdse, or su]st., u•^ „`r, my aeCWIIIH, r ' I'll
property end to ret.,in Vi -, car P.-. trust
(h) To sell, em hange, conv,e\ , U "sfpr or of he verse i+ ,n•
of any se1-unves or other ptcport% held :)y r, , p iv c
contrdri, t)1 at public duct•un No ;)P-SOr1 (10e Inc' %,1111 t -
I n)s;w •_hell he bount' io c • t],- aptllc,3vun rf t')F rw,el•-
APPENDIX A
RESOLUTION NO. 2603
ttloney or to Inquire into the validity, expediency, or
propriety of anv such safe or other disposition
(c) To vote upon any stocks, bonds, or other securities, to
ulve general or •pLLial proles or p,,wpta of - tiorripy with ur
vvfthoul power of subsittution, to Px Pra;e dny cGriverh•oa
privilrger, subscrl :,tlo lights, or other options, and to make
„riy payments mc,d?nlal thereto, to oppo,o, or to consent to,
or othe=vose pfrt,cipate In, corporate reoryan,zalions or
other charicles atf,, -+,oq corporate securit,es, and to delegate
d,scwtlnnary pnvwi,s, and to pay any as=essnlents or rhat-es
in co•mectlon thrretvith, and generally to exercise any of the
pot,,•rs of an own •I with respect to storks, bonds, secul iLILs
or other property held as part of the Trust Funds
(d) To cause any securities or nth(• property held as part of
the Trust Funds to to registered in its own mole, and to hold
any Investrteois In hi•arer form, but the hno,s and epcords of
the Tw,;Ive sh „II at all temt•s chow that all soil' Investnlerts
are a part of the rrList Funds
(e) To borrow or r:•r•,e money for iht purpose of th, Trust In
such dntount, , nd upon cccil iprrns and c.ondl,ions, cs 'lie
I ruatee shall deeni advisable, and, for a,Iy ,u,n so borrowed,
eo issue Its I- r,lnlL,nty note as Tru :tie, and to sortere the
tepayme it thereof by pledying all, or any pdrt, of the Trust
Funds No perso tending money to the Trustee shdff be
bound to see the dllfll',-at on of the money lent or to mr,;nle
into its validity, expediency or propriety of eny ^uch
borrowing.
(f) To keep ctich portion of the crust Fund; in ca'h Gr ee'h
hala-ices „s the Tiuslee, from time to tine, may deem to he
in the best (m, -rests of the True: crpdted hereby, v.Ithout
Iraulh;y for Interest therr',n
iii; To eL-,Jpt an•J ret,,In for such tem•> is It may d—m
ud ✓'sable dny srcurllles ur other property te(.r,v,•ci or
ar-Llunl d by it as Trustee hereunoca, whether ur r,.t such
secuntleS or ether property would normally be ptirCiased as
nivrstments hereunder
(h) To make, I•>,ecute, ackr•owledge, arid deliver any and all
ducun PIS o,' t'pnsfer and ropy( - vatic, and anv ana all other
Inslnrr,Pr,ts ,iidt r,.•y be necr,saly or apwopr,alp to (.air'
(,ut the p.wvers herein granted
(r) To seal -, cori,nromise, or submit to arbitration any
claims, debts, n' L+amanea due or owing to or from the Trust
Fund;, to commence or de.end suits or legal or
�( mtn,�Trartp pin ,,dory;, and to represent toe Trust Ft,nos
In all suits and le,-i3' and administrative proci-edings
if) To do all ,uch acts, -ake ell such p,o,•eccitogs, rod
e,,elcl,e MI such Fights end privll,•ges, alihuugh not
5perrf,cdlly tn••niionr d herein, as the Trustee may drenl
twces4 -rk' to r•dininisier the Trus; Fund, ind to Ldrry out the
purpo.r, of this Trust
S, c: on 2 3 L,stnbutiuns f cm ihp Trust Funds T fie Empluyer
f,ert•h,,• „I•;•uln; the l raster_ ;,s 1lt aq-ni tur purposes of wlrctwtl the
me-mod by w'h•ch r,stnhui'ores from ,he Trust Funds die to I•(-
made as %•veil as frr i,utwises of n,a—nin such dI`tributlons In this
reyr(d ;he tern,, ,no' conditions set fot;lt In 'he Agrepnienis to he
uxtcw-d hpTtrle•l i,-, Employee and its Enlployre•,, Ind toy
st'] nu•nt n,ndific,anl,n•: thPnof, r(- to Wilde and control the
T(us :eP's power
Section 4 Valuetion of Trust Fund At lees% Gncp a yea, ,, Or
Valu, lens Da,t s drbi{11,a1• -d by i1w Trustee•,, the Tn,;J1i s, r'I
determine the val u of the Trust FIInJ, r;slrls of the l lust ! -u ld-
'hall he value(' at their rnrrkrt vr4, sat 11-11 c1011 of busnless nn thr
Valu „thin Date, or, in the ,,hsence Of readily asu•rtamable nldrtet
val.i, as ter l rustle shall delermi,ie, ,n accurd,nce with methods
con- -atenily foilOt„ed,ind uniformly applipd
1 ''r i' •
ARTICLE III. For F•otection of Trustee.
Secteoq 3 1 Ev dente of Action by Fmllloyer The Truster, tnav
rr'ly ul,or, a'ly c- ;rt- ficate, notice or direr-lion purporting to have
b-pn s,onpd nr bph-3 , of the Employer which the Trustee twht-ves to
hevr- br- -n by a ouiy design, tPd official Of the Fmployet No
c irmim i,cation I,a': 'r t]md,ng upon any of the rrust Fund; or
Tru=-r•c until -,r) >\ .,, r. -,,ved by the Trustee.
S�ctlon 3 2 �C :,r,_ of Counsel T -he Trustee may consult vveth
en,t ;L--1 Lo!n:c' with respect fo the co>structlon of this
Aure rlrii ;, r,; d -tip hereun,ter, or any rct, ivh,ch it p,opr,scr to
ak oI
0,-it1' criC shau not be liable for auy action taken or orrw,d
In u Od f (,th uirs -3'': io such idv -ce
ci•on 3 2 V% sc- Har.eous The Toust-e shall use oldma,y care
alit, —a,on,,ule d,haence, but shall not be liable for dny nitsiake of
Jud, ?'TiPnt or r,; lrr ac-. ion teken in good faith The Tr o,iee shall not
be I,ahle f r ant, r,atned by the Trust Funds b�' ,(aeon cf env
ulvestnlent meow- ,r, 000d faitn and in dcuxdancc vino, ire
prov,sic,n= of tni� 4o-r•ement.
Ttuste-'s 7 -ties end obhga,ions hall be Ilmitpd t(, those
exp,r•ssly Imp,)SrC u n It by this greenicrit, notwillistandiny dny
li,l_E IV Tai, —, Expenses anri Cumpensdtton of Ttusrae
"o -ci,un 4 1 Ta>' The Trusty, shdll deduct +rum and ch�rgc
dq'nr t 0- Trus- t=„nd< eny taxes on the Trust Funus or r nic role
th =ilQf or t:'1, -r, ;r,: Trustee Is requln•r'to pay wlih i15,,'LT to ill,
n1Tw IPSt of any p -- >!'; tl,e'eu1
ction 4 2 F>_cn =es The- Tluru -e shaC d dirt +tor , ;,,,
chowe a9;� lit; tri5 T ruse funds all rea30naI1II- ,,XJIt” ses if fr,
the -I a =t e 11 - anlnlsira,Ioi, of the Trust Fi -nd,, er,rl—i-nn
cunruPl, al'cncv a - -c ahPr necessary fees
Ah-liC'-E V. S.,* ;,,rrwnt of Arcounts. Thr I urnL
ep SLcurd- , , Tailed ,•croup_•, of all nlverti-nis, t,t, ;
d ]ur•e ^1 ,: , a',r.:,-h•_r tI °u rci.onE ti,wunder
Wish n 90 c-- _ „cr the cloy- of cach fiscal year, the T ru=TF,
sh ^II r,6=- it o e, 10 ter Em;,4]yr( d 1 aCCU„'it n, itr Iris a
trd -- wT.cns o_ T--- -r• her•.unner If erly part of the Tlus runcl
a•.�il I_,- erivr „,Cl ,r J.,o the mprfeurtl Gt art• , c'Mi1)on, Coh.'tt,v- or
Lur n „nol -d i r,,,- ”, -lr,, the ,ail annt.al repor. Of auch'ru5i � „nc2,
sits I b: suhnil;-ed torn a'ld -r,c rpur .red in ehe. or,t.unt
If after the malllnq of th- drrnLnt r a'Y
al Emr,'nypt t as I., i flied t ,h i.,e I •u -u•A
nut -cr ul art ou' on ,o ruy art o, n.,,v�ctron of the l -.us t, the
2Ct.GUni O 9r-ic ",.?-: ((Ciro it .hall h.LU n1 an uccoL-nt _if -f d 1` Pny
oLp-tixn h:° L,- i fro, cold If tw E- ,p:oyer Is s,u=, :wd t1,a it
shr.ulo ti. w'1' d,r or it,h, account .s au;osIr -d T , ihr r n f.c• •rr's
Sc :''ir rite
1-It, E""I_'•,e andl' in w,lirno filed vv.th ih• i,us-Pi
siy 'fy t ,pro:a c- till , CIGllllt and It sha l br • -rime .•n ar. cl IT
Statpc'
trnri� -, 1 �_'-,., - b.conies an hMAJ. "It Sia"Cf, Surh arCUJ
Ill f nal'y s: ., ThP Ironer 511511 ',e rnnq „elply ifs; -d
end -- . -ccuunt had v'en settled e, -I c Iln, u, 2
,ud - I, n; ur r. , .--( uri n- r1,n1;i. It Ill Junsriic1 _ , , cII ,
o' _i- .h( l Ius- -”- ;rid the Lniplc yrr ", ties r
-Frt- Tc_ a,w the tin`, n, ,,pply dt a„j tin, io r
of fill' ,_i i, J J- "J rt'Gn fUt 11,e J'3rgel. ' ,Pltireti, 11t (1f 11 �_]]
ARTICLE W Prr„gnat(on acid gigue +! of I rest,,
ai,on of l tusieu 1-hr Tru,ap inay it ,it
-r,,, t� -1 r• �,t• i . -`t the• Fm,,' -der T. o-v•nter 1t•c13121W 1 `;., -h
(r -i_ i.t�o^ •1,, , -cl 6'1 d, y•, `ro- -1 illy' (!,it I-- of sorII ,J r I, 1d
u;,un , t_ -,tO rTrn_,.- c' c surL ps.nr punu ;)t to St,cimn G 2.
she'; tort o_c "r
-Ti, v i _ F -^ 7v=1 of To u�te,- Tho Employer nl y -'Ve
ter. rlo -tr,. i c "y by o',2I'vering to th„ Trusle, a'•vritt' -r noelr'e
APPENDIX A
RESOLUTION NO. 2603
of is removal and an appointment of a successor pursuant to
S-cttun 63 Such removal shall not tale effect pitor to 60 days
from sut:h delivery unless the Trustee agrees to an earlier effective
date
Section 6 3. Appointment of Succes,o, Trustee the
appomtntent of a succ -ssur to the Trustee shall take effect upon the
delivery to the Trustee (a) an instrument to writing executed by the
rodeo, or ippoitilmy suer bUrJ_e>.,ol, and r xurwraitntt such successL-
from habdity for the acts and umics,ons of its predecessor, and (b)
an acerb tai t,e in wntinq, ex `ujted by such succrsor
All of the prov s uns set forth herein with tespect to the Trustee
shall relate to each succes <or with the same fo ce and effect as if
,uch successor had been of igmal!y named as Trustee hereunder.
It ,i successor is riot rppo nt-d within 50 days after the l ustee
gives notice of its ies,gnat,on pursuant to Section 6 1, the Trustee
rrtdy al >p!y to any court of LOmpetent Jurrsdtctron for appointment
of a <uct essor.
S,•,,tron 6.4 Transfer of Fund to Successor Uoon the
rr,•gln.;,ion or removal of the Iiuswe and appointment of a
surf es or, and after th,• hndl e, -count of the Fruste has been
ptul•eily settled, the Trustee shall transfer and deliver any of the
Trust Funds revolved to <uch successor
ARTICLE VII. Duration and Revocation of Trust Auteerttent.
°eet,on 7 1 Duiatiun and Revocation This Trust shall continue
for s "ch time as may be :wcessa,y to accomplish the purpose for
when it suds crated but may be termnrt, d or revol,ed at any time
by t' -e Lrrplo;ei as it elates to dny and /or all related paruc pating
Employei -s Wrwo,n nr,,ice of such teirninatiun or revocation shall
be given to the Iru,:ee by the Employer Upon termination or
—Id—
revocation of this Trust, all of the assets the•eot shall return to ar:o
revert to the Employer Termination of this Trust 511311 mot,
however, relieve the Employer of the Employ Pr's t ontmun g
obligation to pay deferred compeosdtion upon tho applicab',
ditirtburon rate to dny and /or each Employee with r;h ,•i the
Empiop-i lids entered into a Deferred Compon,.3tioii Entploymer,t
Agreement
St ct orr 7 2 Acnendrrent -i l . E,rnployPr shah have the right to
amend this Agreement in whole �,nr! in part but only with the
Iru',ee's written consent Any such amerdment ,Ifali , ; cm.•
-ff t •.e upon (a) delivery to th- Trustee of a vdniten in1ltumrnt of
am, i d- tent, dnd (b) the endorsement by the Trustee on ,,ch
tnstr ,rnent of its consent if Pieto
ARI WILE Vill. Miscelldneous.
Section 8 1. Laws of t'te Stat of Deia„ -ire to Go,,i rm, T ni,
agrenn.�nt and the Trust hereby created shall tie ctn;tiued r,d
rcgut�,.;u by the laws of the St,te of Deldvvdre.
S-2ctron 8 2 Successor Employers . -he to .n "En -pluy s tall
mclud,, any person who succi -eds the Employer and v., o no,q, the
D.frirod Ceio, nsation Ff.-ti of the Rvvtf -nent Cuipureflon a..d
becomes a party to this dgiernient vvith the consent of thi, Tru•te^
Section 8 3 Wnhdrrwals 1 he Employer may, dt any hmnt., i,d
Iron time to time, withdraw a portion o, al! of the Trust Fu tcts
cteatud oy t''is Agret.ment and related Def•rred Cowl er. „,lion
F mploymPnt AgtPemenrs
S•r_:icn84 Definitions De'v-. ions in the By -Law; of i�rnr,
phrr.e, etc, -,s -d he ii, apply to the same herein. The ni s ul,i e
inCudi -s the ieromine and the smnular in.audes the plural unfr,s +h,
co^,e I wqunesanothar meaning.
APPENDIX A
TO
RESOLUTION NO. 2603
JOINDFR AGRI- IE-ME \T
TO 7'H1: ICAIA RETIREMI: \T CORPOR.�ITIO\
DEFEIhRED C0_MPI; \SATI0\ PLAN
Irf nlph),Ve"
••, ��
(check appropriate box)
❑ NEW AGREEMENT (rr At- COL' rit) Ti h? urn.;( rsigned hereby r,c:,;i wlr,dr1-' rr-,c -jlr- cf a 1d i- ,s to the terrl,s and c )ndi +ion: of ihr- 1C MA- PC
Deferred Cumpensat -cn Plan, as amended, and hereby apphte� for parlicipat, in in sale uz i as indicated below
❑ AMENDMENT OF EXISTING AGREEMENT (or Account) Tho ,jnder: -Igned i-Ereb•y e_jes;o that the follows lg arnerdment be made to the
Jo,nder Ag,Fement whf -h ,.rovidecl for my partir patron In ` +la IC..1 . I,C Defer, =J Cc c } ^sz: on Plan, as amended
PERSONAL INFORMATION:
[7
Mr
❑ Mrs
[� Moss
Elnploy,ne's Name ❑ Ms ______ -- -- _ -- _ - - - -- -- —�- --
First
Residence - -- _� --- _ - -_ --
Street City
Job Title - -- -- -Sex Cj F1 Firth --
.,octal Security Number ❑ •• - ❑
To \Nhich of the Associalrnis sponsoring thi- plan, do you be'ong?
DFSfGNATiON OF AGE OF RETIREMENT
(For New Accourts Only)
the age of Retirement under this agreement shall be
(You may select any age from age 55 up )
DESIGNATION OF DEFERRED COMPENSATION
Effective on the dale indicated below, I request that I lie pa d m
the form of both current and eeferred cumpencation, the :mcunt
of deferred compwis�t:on to be calculated as follows
Effective Dale
a+r;rod r,t Ces,ui,ar n (Empio},,e s
(En,aloyer s
9 Contril;r, inn)
ConinbuUon)
Total
�r r-A ;: rrp�ns3l on f , -e pay III b,-
Raeo u� cbal, be
only Oneel reduc-1
rdded to by
F'rc' r,ieq, V
-ty
It you I : ve used the Coils Method, how has it been stated (per I,.iv
pennd � iival, etc )9
For O +her Altpiriatives or Supf'lemental Provisions
M,/ corn -nt br+se pay or salary is $ - -- - - -- p=r _ -
I w: 4'Ia.1 'art that my L, -r, ply voll U W_Ib. &III ,', 1, jr- ' ,•
'cuord,mrc_ with eppropnatu IPvd, pin cedui, -, n : p,•I,r y I .;
State
Last
LLJ
Lip
Day -- - - -Year - - --
undo s[cr_ "_; the dcslgnat,on of deferred compen-at j' rl cy nct
ba char ^_ c A -CIL! proper Eml ndment r,f this Hew -
r11-1, v.her: ;-& _,(:-centage method has ueen used L
d,- r:rc:l C:,_Lt." F-,icn, I further urwerstand 'tint the �r centace
t.,; h,}th 1 Z. -,, oyel's ana for emplsyrie's contn:,u+ c v;ill be
applied to a^' ^hinges in my bzse pay, thereby in a
ccrrespo ,- the ige in my deferred c,_)mpen5aticrn
D c51GNA", 10N 0- 1NV7SiME" T I'V'N9S
I ie ^,LP t "-a '.'-e total amounts of (f,'fcr -ed co,npz• t;g1iorl b,:
zpcLF to ' ie ava,'able ,nvNctment fu +ds in it•e fni'cw no per -
cen'aces (See :),)ok�et for discussion of funds)
wholp
ri
I ur _: v_iere Mate or Iccal law restnet,� rl r 1� t.•r, : f
thr• I _ ,,, _ ,Ise fund- that it will be noce?<r :e2t,ict
thf- in�r-s'r _ ' choices to those availahle under 1he
1 i cDn-,:: e"ej the neslpnaUon cf beneficiary fern cr. t`ie
vr,rse, s,-, _ r,,ement.
APPENDIX U
RESOLUTION NO. 2603
FOR EMPLOYER
TO
(Employee's Name)
COPY TO ICMA Retirement Corporation
This application for employFe participation in the ICMA Retirement Corporation'-. Deferred Compensation Plan, which has been es'ahlished by
this Employer, is hereby approved and agreed to in respect to all retluests therein made
(Signature of Authorized Official of Employer)
(Date)
(Print frame & Tine of Au,nonzed Cft,cwi)
DF_SfGN&TION OF BENEFICIARY (Complete this portion only if you have not previously designated a beneficiary when entering the p!an
with a pievrcus employer or if you wish to change beneficiaries)
To whom stall the deferred cc.T,pensalron funds, a-sets and ac,cumulattons in the ICMA -RC account be pa;ehle in c3,e of your deatnv In tf--e
statement bFlow, give first name, middle initial and last name E,ample Mary A Smith (not Mrs John Smith) For your ch,.ldfen you mp,, simpiy
use the term "my children and !eave the share coiunin blank This term shall provide equal treatment r,mcng your chiloren-- present and
future - -born of any and all m, rriages and any children legally adopted at any time In the evert you choose to leave the deferred com,ren-
sation funds, a_seis and accumulations, to a charity or rmstrtutton, specify rte complete le-al name and address
I, the undersignc,d, being a pert- cipant in the ICMA -RC Defrrrrd Compensation Flan end thus having the sole right to cesicnate, chance, and
successively mango the person, person:, or mFtitutions desionated as henefic pry or bencficiarres, do hereby d;recL tl,. i any and all deferred
comp. n-ation fund-, essets, and accumuiat -ons held for my retirement benefit by the ICMA Retirement Corporation (nr any successor t,rereto)
,�s Trust,--e for all of niy pact, present and future pa•t cipating Eml foyers, he p, yat;le as follows if living at the time c f my death
— NAME ADDRESS SHPRE
(Ple.-.e type or print)
In It-,e e ,(ert cf the d•:etl of my beneficiary or L�emefictaries prior to the dzte of the distribution of the cefer ed compensation fu ios, V :se;q
r,nd ,scum; laticns by th'- employer, 1h,n to the following person, persc,nc, or institutions if living at loe tame of env (Ieath:
NAME l- ---- - - - - -- ADDRESS - - - - - - - -- ` nARh_ - --
(Fle,,se type or print)
j ) be u-•eri for special ninv,srons the Employee may choose to include).
In adds -ion to any cone l ons stated above, I direct the following (please print or type)
t undpi -tar d that if the henefi}s are paid to me und,?r an opl,-,n rvq.rnrrnr; 1ho porrhaco of an rnnr,ity 131 my 1Pflt. that Illy =.tern cr
re ,fcslenatlon ^t a bNnet'rjary or betiel- ,'arses may I,ave tc he rr tier,,(- 1 at tnEt I i occorda'ict v'lth th' f'�l]f •: �'i•, n'L, 'lf 1. • 2 ^rn;it�r !
iurthe; under ,tend that the last dated tte-ignation of m he eficit ry or L'eneiicia ie: t i'.1 v ith IC14 -FC a-. l r.tc' : ir,r am .r;)7.
r n
-ha!I, in Ili- F% -Pnt of my death prior to full distribution to nie after my n�ttrenient, cr,r,rcl tho artioms of ICMA -RC, 3. Trustee in ! r
of the deferred compens Pion funds, asset,: and ace emulations in il,e relevanl ICMA -RC Account or Accounts
ned
APPENDIY B
-ri 1F-
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
CITY OF EL SEGUNDO )
I, VALERIE A. BURROWES
SS
City Clerk of the
City of E1 Segundo, California, DO HEREBY CERTIFY that the
whole number of members of the City Council of the said City
is five; that the foregoing Resolution, being Resolution No. 2603
was duly passed and adopted by the said City Council, approved
and signed by the Mayor of said City, and attested by the City
Clerk of said City, all at a regular meeting of the said Council
held on the 7th day of January , 1975
and that the same was so passed and adopted by the following vote:
AYES: Councilmen Nagel, Rockhold, Stephens
Van Vranken and Mayor Balmer
NOES: Councilmen None
ABSENT: Councilmen None
WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID
CITY this 13th
(SEAL)
day of January 197 5
City Clerk
of the City of E1 Segundo, California