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Agmt 2004 Hartford Life Insurance Company
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Agmt 2004 Hartford Life Insurance Company
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Last modified
8/12/2009 10:38:08 AM
Creation date
8/7/2009 12:37:31 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
3/18/2004
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PERM
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Reso 2004-029
(Approved by)
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\City Clerk\City Council\Resolutions\2004
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liable for any loss or expense which may arise from or result from compliance with any directian <br />from the Employer or such agents or other persons, to take title to any assets nor shall the Trustee <br />be responsible or liable for any loss or expense which may result from the Trustee's refusal or <br />failure to comply with any direction to hold title, except if the same shall involve or result from the <br />Trustee's gross negligence or intentional misconduct. The Trustee may refuse to comply with any <br />direction from the Employer or such agents or other persons, in the event the Trustee, in its sole and <br />absolute discretion, deems such direction improper by virtue of applicable law. <br />4.4 The Employer acknowledges that it has the sole responsibility for <br />qualification of the Plan under Section 457 of the Code, and for selection of the investment funds <br />offered under the Plan and the custody and possession of Trust assets. <br />4.5 The Employer hereby indemnifies and holds the Trustee and its affiliates and <br />nominees harmless from any and all actions, claims, demands, liabilities, losses, damages or <br />reasonable expenses of whatsoever kind and nature in connection with or arising out of (i) any <br />action taken or omitted in good. faith by the Trustee in accordance with the directions of the <br />Employer; or its agents and subagents or other persons designated by Employer hereunder, or (ii) <br />any disbursements of any part of the Trust made by the Trustee in accordance with the directions of <br />the Employer, or (iii) any action taken by or onutted in good faith by the Trustee with respect to an <br />investment managed by an Investment Manager in accordance with any direction of the Investment <br />Manager or any inaction with respect to any such investment in the absence of directions from the <br />Investment Manager. <br />.Anything hereinabove to the contrary notwithstanding, the Employer shall have no <br />responsibility to the Trustee under the foregoing indemnification if the Trustee fails intentionally or <br />recklessly to perform any of the duties undertaken by it under the provisions of this Trust. <br />4.6 Notwithstanding anything herein to the contrary, the Employer or, if so <br />designated by the Employer, the Investment Manager or another agent of the Employer, will be <br />-5- <br />4S7 Plans (Rev. 1/04) <br />
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