Laserfiche WebLink
221Page <br /> Attachment B—Custodial Services and Fees <br /> A. Appointment <br /> The Trustee hereby retains and employs the Custodian as depository and custodian to hold certain assets of the <br /> Trust. The Trustee acknowledges that the Custodian is not a fiduciary of the Plan. The Custodian shall establish <br /> and maintain an account to hold: (a) the Trust assets received from the Trustee; (b) all investments of Trust <br /> assets, and proceeds thereof; and (c) all earnings and profits thereon (hereinafter called the "Account"). If so <br /> directed by the Trustee, the Custodian shall also establish within the Account one or more investment funds to be <br /> invested as directed by the Trustee. <br /> The Trustee hereby amends the Trust to provide that the Company, in addition to its other duties as a fiduciary of <br /> the Plan, shall be authorized to serve as a Special Trustee. The duties of the Special Trustee include accepting and <br /> holding Plan assets that have been sent by the Company to the Custodian until such assets can be properly <br /> allocated to Participants' accounts and any similar responsibilities. The Company's acceptance of this revision to <br /> the Trust shall be indicated by its acceptance of the Plan assets. <br /> B. Investment of Account <br /> The Account shall be invested and reinvested, without distinction between principal and income, as the Custodian <br /> shall be directed by the Trustee or by an investment manager duly appointed by the Trustee or by such other <br /> authorized party as provided under the terms of the Plan and the Trust. In the absence of directions or <br /> authorization from the Trustee or an investment manager, the Custodian shall have no power, duty or authority <br /> to invest the Account, except as provided in this Agreement. <br /> The Custodian shall not be liable for interest on any cash balances or other assets it holds uninvested pending <br /> receipt of directions from the Trustee or an investment manager. <br /> C. Withdrawals and Payments <br /> The Custodian shall add or withdraw assets and make payments from the Account, as directed by the Trustee. <br /> Directions for withdrawals or payments need not specify the purpose of the withdrawal or payment and the <br /> Custodian shall not be responsible to inquire as to the purpose or propriety of the withdrawal. Any withdrawal or <br /> payment order from the Trustee shall constitute a certification that the order is one that the Trustee is authorized <br /> to direct. In the event that any payment ordered by the Trustee is mailed by the Custodian and (a) the payment is <br /> returned to the Custodian because the addressee cannot be located at such address; or (b) the check is not <br /> presented for payment within six months after the date of the check, the Custodian shall promptly notify the <br /> Trustee of the returned payment or failure to present the check. Upon the expiration of 60 days after the <br /> Custodian's notice to the Trustee, the payment order shall become void, and unless and until a further order of <br /> the Trustee is received by the Custodian, the Custodian shall return the payment to the Account, and shall <br /> continue to administer the Account as if such order had not been made. <br /> D. Collection <br /> The Custodian shall collect for the Account any money or property, including dividends, income, and interest, due <br /> and payable from or on account of the securities and other property in the Account. The Custodian shall be <br /> required to enforce such collections by legal means or otherwise and shall receive the proceeds of such <br /> collections as may be effected by the Custodian or its agents in the ordinary course of business. <br /> VEBA Administrative Service Agreement (405512) <br />