Laserfiche WebLink
F. Master Repurchase Agreements . All approved institutions and dealers <br /> transacting repurchase agreements shall execute and perform as stated in a Master Repurchase <br /> Agreement . All repurchase agreement transactions shall adhere to the requirements of the <br /> Master Repurchase Agreement. This provision does not restrict or limit the terms of any such <br /> Master Repurchase Agreement. <br /> G . Criteria for Investment Manager Review. The Master Trustees wish to adopt <br /> standards by which ongoing retention of a Manager should be determined . With this in mind, the <br /> following guidelines are adopted : <br /> If, at any time, any one of the following is breached, the Manager will be notified of the <br /> Master Trustees ' serious concern for the Fund ' s continued safety and performance and that <br /> manager termination could occur. <br /> 1 . Consistent performance below the 50`h percentile in the specified universe <br /> over rolling 3 - year periods . <br /> 2 . Consistent under-performance of the stated target index over rolling 3 - <br /> year periods . <br /> 3 . Loss by the Manager of any senior personnel deemed detrimental to the <br /> Manager ' s ability to perform required duties or any potentially detrimental organizational <br /> issues that may arise and have an effect on the management of Master Trust Fund assets . <br /> 4 . Substantial change in basic investment philosophy by the Manager. <br /> 5 . Substantial change of ownership of the firm deemed detrimental to the <br /> Manager ' s ability to perform required duties . <br /> 6 . Failure to attain at least a 51 % vote of the confidence of the Master <br /> Trustees . <br /> 7 . Failure to observe any guidelines as stated in this policy . <br /> This shall in no way limit or diminish the Master Trustees ' right to terminate the <br /> Manager at any time for any reason . <br /> An investment management agreement will be entered into between the Master Trustees <br /> and each Manager. Each investment management agreement will include such items as fiduciary <br /> standards , notice requirements, duties and responsibilities and specific investment guidelines for <br /> the Manager and will be subject to the prior review and approval of an attorney for the Master <br /> Trustees . <br /> All Managers must be duly registered with the appropriate government agencies to act in <br /> the capacity of investment manager on behalf of the Master Trustees . Any Manager appointed <br /> shall promptly notify the Master Trustees in the event any circumstance arises that may result in <br /> its failing to continue to meet the requirements stipulated by the respective government agencies . <br /> Page 10 of 19 <br /> Revised June 1 , 2007 <br />