1988-079-RES WHEREAS, the City of Paris has employees rendering valuable services; and,

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_ 4.2 01__ 01 '\hI8t Pn>perty: [);sIributi' '" the TtuIt Prop- erty...aIl be made to. Of on behalf aI. the Public Empl~ 'ublic Employer lh."'''' in occordonce _ the terms d the Deferred C<.opensolion PII""- Qualified PII", or E~r l'UIIS, The 1MI... d the Retirement rost all be ;uUy pro&ecIed in making payments in K:COf'd8nce with the directions of ... ~ E~ Pubk: E~_ordhor ~dthe E/nplo>'el "tusts wIIhoul: ucer1aining whethef such peyments are in compliance with the pO\IiSionI d... Dofoned Compono8Iion or QuoIilIed PlanS, or the Ill- CI88ling the Empia;er 'iustS, SectIon 4.' ~utIon oIlnelN....nta: The _ may unanimClU1liy desigNde any one or more of the TrUlleeS to execute any instrument or doCu- ment on behalf dill. inCluding but nollirni1ed III !he signing or .~nt d art; cheCk and the signing aI any applications, insurance and ether (;()fr _ end the oc1;cn d ouch dosignaled TrUll" or lMIoes shall haIIe the ...... """" end oIfoct IS d Iaken by all the lrustoes, ARTICLE Y. DUTY OF CARE AND LIABILITY OF TRUSTEES Section 5.1 Duty 01 Ca..: In ....rcising the powelS hereinbelore granted to !he lrustoeS. \he TrUSloes shall pertorm 011 acts within their luthorrty fol the elOCiusive purpose d plOViding benolils fol \he Public EmployelS in connec. tion _ DoIened Compensation Plans Ind Public Empl~ Ttultoes pulSU8nt III Qualified Plans. end shall perform ouch acts with \he cara. ll<ill. prudance and diligence in the circumstances then prevailing that 8 prudent person act. log in 8 like capacity and familiar with such maners would use in the conduct d an enterprise of . like character and with like aims. Section 5.2 UeblII1y: The TNst... shollnol be liable follny mistake d judg- men1 Of other action taken in good faith, and tor 8"i action taken or omitted in retiance in good taith upon the books allICCOUnt or other records of the Retirement 'lust, upon the opinion of counsel. or upon reports made to the Retirement liust by Iny 01 lis officelS, amployalS or Igants or by !he Invest. ment Advilef or any sub-investmenlldviser, accountants. appraisers or other experts or consultants selacted with reasonable care by the TN_. officelS or ampl""", 01 the Retllement TrUSl, The Trust_ shall 1150 not be I,able for any loss sustained by the Trust Property by reason of any investment made in good faith and in JICCClf'dBnoe with the _ndard of care set torth in Section 5.'. Section 5.3 Bond: No Trustee shall be obligated to give any bond Of other security lor the per10rmance of any of his or her duties hereunder. ARTICLE VI. ANNUAL REPORT 10 SHAREHOLDERS Tho _ _ annually oul . \he Public Em~1S Ind Public Employer _ I wriIIan report d the tro"..ACtiOns rJ the Retirement liusl, irduding ~nan- ciaI statements which aU be certified by independent public accountants che- IOn by tho 1iuaIoes, ARTICLE YII. DURATION OR AMENDMENT OF RETIREMENT TRUST Section 7.1 WI1tlc1....l: A Public ErnpI<7jor or Public Employer Tru_ may, aI any time. _draw ~om this Ralirement Trust by delovenng to the Board of l'ustoeS I wriUan statement 01 withd.-l, In ouch stalement. the PubliC EmplOf8l' Of Public Emplover Ti'ullee shal1 ecknoMedoe that the Trust Pro~ eft)' allocable to the Public Emp/a)ler is derived from compensation deferred by amployalS 01 ouch Public Employe< pursuant III lis Deferred Compens8' tion Plan or "om contributions to the accounts d EmplO)'Ms pursuant to 8 QuaifiOd Plan. ancl_ dasig_1he financial inslitution 10 which such plOpellY Ihall be transferred by the Trustees 01 the Retirement Trust or by the Trustee 01 \he Employer Trust, SectIon 7.2 Duration: The Retirement 1Nst shall continue until terminated by tho YOIe oIa majOrity 01 the Public Em~"" aach casting one lIOIe. Upon larmination. all 01 the Trust Property shall be paid out 10 the Publ,c EmployelS, Public Empl~_or!he_oIthe Em~rTNsts. ..appropriate Iecllon 7.' Amendment: The Retirement lrust may be amended by the lIOIe 01 I majority 01 !he Public EmployelS. aach casting one vote, SectIon 7.4 Procedure: A resolution to terminate or amend the Retirement "lust or to ren"ICH8 a1i'ustee IhaIl be submitted to 8 Vl:M 01 the Public Employers if: ~) . majority 01 the Trustees 80 direct, or; ~i) a petition requesting B vote. aignad by nolless thin 25% 01 the Public Employers. is submitted to the lrustoeS, ARTICLE YIII. MISCELLANEOUS Section 1.1 Qoftmlng LIw: Except a' otherwise required by state or local law, this Declaration at Trust and the Retirement Trust hereby created Shall be construed Ind regulated by the lawS 01 the District 01 Columbia Section '.2 Counlerpar1a: This Dec:laration may be axecuted by the Publ,c Employers and Trustees in two or more counterparts. each of which shall be deemed an original but all d which together shall constitute one and the same instrument.