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Agmt 2004 Hartford Life Insurance Company
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Agmt 2004 Hartford Life Insurance Company
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8/12/2009 10:38:08 AM
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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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Reso 2004-029
(Approved by)
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\City Clerk\City Council\Resolutions\2004
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responsible for valuing all other assets so acquired for all purposes of the Trust and of holding, <br />investing, trading and disposing of the same. The Employer will indemnify and hold the Trustee <br />harmless against any and all claims, actions, demands, liabilities, losses, damages, or expenses of <br />whatsoever kind and nature, which arise from or are related to any use of such value by the Trustee <br />or holding, trading or disposition of such assets. <br />ARTICLE V <br />DISBURSEMENTS <br />5.1 The Employer or its designee shall make such payments from the Trust at <br />such time to such persons and in such amounts as shall be authorized by the provisions of the Plan; <br />provided, however, that the assets of the Plan (i) are held in trust for the exclusive benefit of the <br />Participants and their Beneficiaries, and no payment shall be made, either during the existence of or <br />upon the discontinuance of the Plan, which would cause any part of the Trust to be used for or <br />diverted to purposes other than the exclusive benefit of the Participants and their Beneficiaries <br />pursuant to the provisions of the Plan; (u) may be used only to pay Plan benefits and defray <br />reasonable expenses of administering the Plan; and (iii) cannot revert to the Employer until all Plan <br />benefits have been paid to Participants and Beneficiaries in accordance with the terms of the Plan. <br />5.2 All payments of benefits under the Plan shall be made exclusively from the <br />assets of the Plan accounts of the Participant to whom or to whose Beneficiary such payments are to <br />be made, and no person shall be entitled to look to any other source for such payments. <br />ARTICLE VI <br />ACCOUNTING BY TRUSTEE <br />6.1 The Trustee shall not be required to keep accounts of the investments, <br />receipts, disbursements, and other transactions of the Trust, except as necessary to perform its <br />title-holding function hereunder. All accounts, books, and records relating thereto shall be <br />maintained by the Employer or its designee. <br />-6- <br />457 Plec~v (Rev. 1/O4) <br />
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