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10/11/2022
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10/11/2022
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12/12/2022 10:51:24 AM
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12/12/2022 10:22:39 AM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
10/11/2022
Meeting Body
Board of County Commissioners
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including expenses in connection with such resignation or removal, and any balance of such reserve <br />remaining after the payment of such charges shall be paid over to the successor Trustee or Trustee. <br />Article X — Amendment or Termination of Agreement <br />Section 10.1 Amendment of Agreement <br />Subject to Section 2.3, a Party may not alter, modify or amend this Agreement in whole or in part at <br />any time, without the prior written consent of the other Party. <br />Section 10.2 Termination of Agreement <br />Subject to Sections 2.3 and 9.1, the Parties may at any time terminate this Agreement by written notice <br />given to the other Party. The Parties may by mutual agreement determine an earlier time when such <br />termination shall be effective. Such notice of termination shall be accompanied by a certified copy of a <br />resolution of the Board of Directors of the Employer approving such termination. In the event of the <br />termination of this Agreement, the Trust shall be distributed pursuant to Article IX or XI hereof. <br />Article XI — Termination of Plan <br />Section 11.1 Amendment or Termination of Plan <br />Subject to Section 2.3, if Employer alters, modifies, amends or terminates the Plan in whole or in part, <br />Employer shall give written notice to Trustee promptly of such alteration, modification or amendment. <br />Such notice shall include a certified copy of a resolution of the Board of Directors of the Employer or <br />letter on Employer's letterhead and signed by an officer with authority over the Plan. <br />Section 11.2 Cessation of 457(b) Status <br />The Employer shall promptly notify the Trustee if the Plan becomes an ineligible deferred compensation <br />plan pursuant to the provisions of Code Section 457(f), or if the Plan ceases for any reason to qualify <br />as a Section 457(b) plan. <br />Section 11.3 Application of Funds on Termination <br />In the event of termination of the Plan, the interests of the Plan participants shall vest and be processed <br />in accordance with the written directions of the Employer, accompanied by a certificate that such <br />disposition is in accordance with the terms of the Plan. <br />Article X11 — General Provisions <br />Section 12.1 Governing Law <br />To the extent not preempted by the provisions of any applicable federal law, this Agreement shall be <br />administered, construed and enforced according to the laws of the State of Indiana, and shall be <br />deemed to have been executed and delivered in that State. <br />Section 12.2 Entire Agreement <br />Trustee's duties and responsibilities to the Plan or any person interested therein shall be limited to <br />those specifically set forth in this Agreement. No amendment to the Plan or any other document <br />affecting the Plan shall affect Trustee's duties or responsibilities hereunder without its prior written <br />consent. <br />Section 12.3 Notices <br />Except as otherwise provided in writing and agreed to by Trustee, all notices, reports, accounts and <br />other communications from Trustee to the Employer, the Employer, the Administrator, the Investment <br />Manager(s) or any other person shall be in writing or in such other form agreed to by the parties, <br />Indian River County BOCC; 457(b) INDR-001 83 <br />RPS00804-AL 10 <br />
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