Benefit Plans Administrative Services 12/26/2018

Section 1.05 Directed Trustee. The term "Directed Trustee" shall mean Hand Benefits & Trust Company, the independent financial institution named herein and any successor named thereafter. Section 1.06 Participants. The term "Participants" shall mean individuals who from time to time satisfy the requirements to participate in the Plan. Section 1.07 Plan. The term "Plan" shall mean the City of Everett VEBA Plan, as adopted and as may be amended from time to time by the Employer. Section 1.08 Plan Administrator. The term "Plan Administrator" shall mean the person or entity identified in the Plan that has responsibility and authority to administer the Plan. Section 1.09 Trust or Trust Fund. The term "Trust" or "Trust Fund" shall mean the trust established (or amended and restated) by this Trust Agreement, comprising all property or interests in property held by the Directed Trustee from time to time under this Trust Agreement. The name of the Trust shall be City of Everett VEBA Plan and Trust. Section 1.10 Trust Agreement. The term "Trust Agreement" shall mean this agreement, as may be amended thereafter from time to time. Article II ESTABLISHMENT OF TRUST Section 2.01 Purpose. The purpose of the Trust is to apply the assets of the Trust to provide benefits for Participants. The Trust, together with the Plan, is intended to constitute a "voluntary employees' beneficiary association" within the meaning of section 501(c)(9) of the Code.The Employer hereby represents that it sponsors the Plan; that the Plan is a defined contribution group health plan; and that all Assets will be Trust assets. The Employer also hereby represents that it has obtained IRS approval and/or an opinion from a licensed lawyer stating that (i) the Trust is exempt from income tax under Code Section 501(c)(9); (ii) the Trust is not required to file any federal or state tax returns; and (iii) contributions to, and distributions from,the Trust are not includible in the gross income of any Participant or Beneficiary under Code Section 61 and are not wages for Federal Insurance Contributions Act(FICA), Federal Unemployment Tax Act (FUTA), or income-tax withholding purposes. Section 2.02 Receipt of Funds. The Directed Trustee shall accept all sums of money and other property deposited or remitted to the Trust and the Directed Trustee shall hold, manage, and administer the Trust without distinction between principal and income. The Directed Trustee shall be accountable for the contributions or transfers it receives, but shall not be responsible for the collection of any contributions or transfers to the Trust. Section 2.03 Return of Contributions. Notwithstanding any other provision of this Trust Agreement, contributions to the Trust made by the Employer based upon mistake of fact may be returned to the Employer within one year of such contribution; provided that the return of contributions under this Section 2.03 may not violate any provision of the Plan. The Directed Trustee shall return contributions under this Section 2.03 only in accordance with Appropriate Directions and the Directed Trustee shall have no duty to determine whether the return of such contributions is permitted under this Section 2.03 and the Plan. Section 2.04 No Diversion. Excepted as provided in Section 2.03, at no time shall any part of the corpus or income of the Trust Fund be used for or diverted to purposes other than for the exclusive benefit of the Participants and Beneficiaries, including reasonable costs of establishment, amendment and administration of the Trust and the Directed Trust Agreement—Single Plan (405512) Page 2 of 12