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BPASTrust Agreement <br /> TRUST AGREEMENT <br /> THIS TRUST AGREEMENT, entered into effective January 1, 2019 , by and between, City of Everett (the <br /> "Employer" and the "Plan Administrator") and Hand Benefits & Trust Company, a Texas state chartered trust <br /> company having its principal office in Houston,Texas(the "Directed Trustee"). <br /> WITNESSETH: <br /> WHEREAS, the Employer has established a group health plans (the "Plan") that provides health benefits to certain <br /> employees and/or former employees of the Employer and their beneficiaries; and <br /> WHEREAS, to implement and carry out certain provisions of the Plan, the Employer has established the City of <br /> Everett VEBA Plan and Trust (the "Trust"); and <br /> WHEREAS, the Trust is intended to comply with the requirements of section 501(c)(9) of the Internal Revenue <br /> Code of 1986, as amended (the "Code"); and <br /> WHEREAS, the Employer wishes to appoint Hand Benefits & Trust Company as the Directed Trustee of the Trust; <br /> and <br /> WHEREAS, Directed Trustee is willing to receive, hold, and invest certain assets of the Trust in accordance with the <br /> terms of this Trust Agreement. <br /> NOW THEREFORE, in consideration of the premises and the covenants contained herein, the Employer, Plan <br /> Administrator, and Directed Trustee agree as follows: <br /> Article I <br /> DEFINITIONS <br /> Section 1.01 Appropriate Directions. The term "Appropriate Directions" shall mean a direction provided <br /> hereunder by (i) the Plan Administrator or (ii) the Plan Administrator's third-party agent with respect to the Trust <br /> Fund. <br /> Section 1.02 Assets. The term "Assets" shall mean the securities, cash, and other property that the Employer <br /> delivers or causes to be delivered hereunder from time to time to Directed Trustee, as well as income, <br /> distributions and payments received by Directed Trustee with respect thereto. <br /> Section 1.03 Beneficiary. The term "Beneficiary" or "Beneficiaries" shall mean any person or persons designated <br /> by the Participant in accordance with the terms of the Plan(s). <br /> Section 1.04 Code. The term "Code" shall mean the Internal Revenue Code of 1986, as amended, and any <br /> successor statute thereto. <br /> Solving Tomorrow's Benefit Challenges Today <br /> BPAS Services: Plan Administration& Recordkeeping I Actuarial &Pension ; TPA I Fiduciary I Healthcare Consulting j VEBA& HRA/HSA <br /> AutoRollovers& MyPlanLoan Transfer Agency Fund Administration j Collective Investment Funds <br /> BPAS Subsidiaries: Hand Benefits&Trust E BPAS Trust Company of Puerto Rico NRS Trust Product Administration Global Trust Company <br /> BPAS offices in:Rochester,Syracuse,Utica,&New York,NY I Philadelphia&Pittsburgh,PA I Houston,TX I Boston,MAI E.Hanover,NJ I San Juan,PR <br />