R2013-23 APPROVING AMENDMENT TO EMPLOYER PARTICIPATION AGREEMENT

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t distinction between principal and income, in such government and fixed income securities that carry a rating of A or better by any established securities rating service. The Administrator from time to time shall communicate to the Trustee the investment objectives of the Fund and the Plan's short and long run financial and liquidity needs. 6.2 Investments in Securities of the Administrator, Trustee, and Employers. No part of the Fund shall be invested directly in securities or bonds of the Administrator, the Trustee, or the Employers. Assets of the Fund may, however, be invested in savings accounts and certificates of deposit or other time deposits with any bank that bear reasonable rates of interest and in annuity products offered by licensed insurance companies. ARTICLE VII POWERS OF TRUSTEE 7.1 General Administrative Responsibilities and Powers. The Trustee is authorized and empowered to take any action set forth below with respect to the Trust: a) to accept instructions from the Employers or Administrator regarding the allocation, distribution or other disposition of the Trust and all matters relating thereto; b) to accept written instructions from the Employers or Administrator regarding the disposition of the assets of the Trust; C) to cause any portion or all of the Trust to be issued, held, or registered in the individual name of the Trustee, in the name of its nominee, in an affiliated securities depository, or in such other form as may be required or permitted under applicable law or to be held in the name of another Trustee (however, the records of the Trustee shall indicate the true ownership of such property); d) to employ such agents and counsel, including legal counsel, as the Trustee determines reasonably necessary in managing and protecting the assets of the Trust, in handling controversies under any section of this Agreement, or in defending itself successfully and to pay such agents and counsel compensation out of the Trust unless such compensation is otherwise paid; e) to commence, maintain, or defend any litigation necessary in connection with the administration of the Trust, except that the Trustee shall not be obligated to do so unless it has been indemnified to its satisfaction against all expenses and liabilities sustained or anticipated by reason thereof; f) to hold part or all of the Trust uninvested as may be necessary or appropriate; g) to forward to the Employers, for exercise, all proxies solicited; to vote, on behalf of the Trust and in accordance with the instructions provided by the Employer, all proxies that are returned by the Employers; and to abstain from voting proxies that are not returned by the Employers; and h) to do all other acts necessary or desirable for the proper administration of the Trust. 7.2 Investment Responsibility of Trustee. The Trustee shall have no investment management responsibility with respect to the Trust or any other assets held under the Trust, including, but not limited to, the selection of the investment options for the Fund. Payments made by the Employers to the Trustee 6