83-017 RES CITY COUNCIL IS AWARE OF DEFERRED COMPENSATION PLAN OFFERED BY INT'L CITY MANAGEMENT ASS'N RETIREMENT CORP

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time by filing with the Employer lts written resignation, Sueh resiynation shall take eKect sixty (60) days from the date of sucl'i filing and upon appointment of a successor pursuent to Section 6.3., whichever shall t,rat occur. Section 6,2. Ftemoval of Trustee. The Employer may remove the Trustes at any time by delivering to the Trustee a written notice ot its removal and an apppointment ol a successor pursuant to Section 6.3 Such removal shall not take effect prior to sixty (60) days trorn such delivery unless the Trustee agrees to an earlier etfective date. Section 6.3. Appointment of Successor Trustee The apointment of a successor to the Trustee shall take effect upon the delivery to the Trust2e ot (a) an instrument in writing executed by the Employer appointing such successor, and exonerating such successor trom IiaLiiity for the acts and omisslons of its predecessor, and (b) an acceptance in wnting, executed by such succt^ssor. All of the provisions set forth herein with respect to the Trust-e shall relate to each successor with the same force an_i ef`ect as if such successor had been onginally named as Trustee hereunc!er It a successor is not appolnted within sixty (60) days after the Trustee gives notice of its resignation pursuant to Sec[ion 6 1_ the Trustee may appry to any court of competent jurisdictiun for appointment ot a successor. Section 6.4 . Transfer ot Funds to Successor. Lpon the resi ,n;:ition or removal of the Trustee and appointment of a successor, and atter the tinal account of the Trustee has been properly settled, the Trustee shall transfer and deliver any o' the Trust Funds invoived to such successor- ARTICLE VII. Duration and Revocation of Trust Ayreement. 9ection r i Duration and Revoctition 1"his Trust shall continue for SuCt'i time as m:3y be nece~tsary to accon!plish fhe Uurpo~~ior wiu(,:h it w.is created biit may be ter'mina?ed or revoked at any time by the Employer as it relates to any and/or all rel.ited participating Employees. Written notice ot such termin,ition c,>r revocation shall be given to the Trustee by the Fmployer. Upon termination or revocation of this Trust, all of the assets thereof shall retum to and rervert to the Employer. Termination of this Trust stiali not, hcwever, relieve the Employer of the Employer's continuing priligetien to pay deft>rred coinpensation upon the appiicable dis[ribution d~ite to any and/or each Employee with whqm the Employer has entered inlo a Deferred Ccmpenseition Employment Agreemt,nt- Sec'ion 72 Amendment. The Employer shall have the right to amend this Ayreement in whole and in part but only with the Trustee's written consent Any suc,h amendmerit shall become effective upon (a) t9elivery to the ; rustee of a written instrument of amendment, and (b) the endorsement by th<~~ Trus?ee on such instrument of its consent thereto- ARTICLE VIII. Miscetlaneous. SE,ction 81. Laws ot the State of Delaware to Govem This Agrvem2nt snd the. Trusi herreby created shall be construed and regulated by the laws ot the State o? Delaware. Section 8 2, Successor Empioyers. The term "Empioyer" shaii include any person who succeeds the Emplc>yer and who adopts the Deterred Compensation Plan of the Rrtlrement Corporation and becomes a party to tCis Agraement, with the consent of the Trustee. Sc~ction 8 -3. Withdrawals The Employer may, at any time, and from ;ime to time, withdraw a portion or a!I of the Trust Funds created by this A,)rerament and releted Deferred Compensation Empioyment Agrec:ments, Sectlon 8 d Detinitions Definitions in the By-Laws of terms, phrases, etc, userd hrif~in ,ipply to the ;ame herein The masculine indudes the ti'minirn.. ;1nd th~~ ,in, jul:ir in,lu,Jw; tIle plural unle ~s Ihe cor?tr'xt rur,auirt,s inc~ili(,r ni,~inuky