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(v) -do all such acts, take all such proceedings, and exercise all t such rights and privileges, although not specifically mentioned herein, as the Trustees may deem necessary or appropriate to administer the Trust Property and to carry out the purposes of the Retirement Trust. SECTION 4.2. Distribution of Trust Property. Distributions of the ust Property shall be made to, or on behalf of, the Public Employer, in cordance with the terms of the Deferred Compensation Plans or i"_7ployer Trusts. The Trustees of the Retirement Trust shall be fully ,tected in making payments in accordance with the directions of the plic Employers or the Trustees of the Employer Trusts without acertaining whether such payments are in compliance with the : ovisions of the Deferred Compensation Plans or the agreements erating the Employer Trusts., SECTION 4.3. Execution of Instruments. The Trustees may lanimously designate any one or more of the Trustees to execute any strument or document on behalf of all, including but not limited to the ;ning or endorsement of any check and the signing of any plications, insurance and other contracts, and the action of such signaled Trustee or Trustees shall have the same force and effect as if .en by all the Trustees. ARTICLE V. Duty of Care and Liability of Trustees SECTION 5.1. Duty of Care. In exercising the powers hereinbefore anted to the Trustees, the Trustees shall perform all acts within their thority for the exclusive purpose of providing benefits for the Public -�ployers, and shall perform such acts with the care, skill, prudence d diligence in the circumstances then prevailing that a prudent person �,ng in a like capacity and familiar with such matters would use in the riduct of an enterprise of a like character and with like aims. SECTION 5.2. Liability. The Trustees shall not be liable for any stake of judgment or other action taken in good faith, and for any ,on taken or omitted in reliance in good faith upon the books of ; ount or other records of the Retirement Trust, upon the opinion of unsel, or upon reports made to the Retirement Trust by any of its ;cers, employees or agents or by the Investment Adviser or any sub - •stment adviser, accountants, appraisers or other experts or 17sultants selected with reasonable care by the Trustees, officers or I lloyees of the Retirement Trust. The Trustees shall also not be liable my loss sustained by the Trust Property by reason of any investment __e in good faith and in accordance with the standard of care set forth Section 5.1. i I 3 SECTION 5.3. Bond. No Trustee shall be obligated to give any bond or other security for the performance of any of his or her duties hereunder. ARTICLE VI. Annual Report to Shareholders The Trustees shall annually submit to the Public Employers a written report of the transactions of the Retirement Trust, including financial statements which shall be certified by independent public accountants chosen by the Trustees. ARTICLE VII. Duration or Amendment of Retirement Trust SECTION 7.1. Withdrawal. A Public Employer may, at any tirne, with- draw from this Retirement Trust by delivering to the Board of Trustees a statement to that effect. The withdrawing Public Employer's beneficial interest in the Retirement Trust shall be paid out to the Public Employer pr to the Trustee of the Employer Trust, as appropriate. , SECTION 7.2. Duration. The Retirement Trust shall continue until terminated by the vote of a majority of the Public Employers, each casting one vote. Upon termination, all of the Trust Property shall be paid out to the Public Employers or the Trustees of the Employer Trusts, as appropriate. SECTION 7.3. Amendment. The Retirement Trust may be amended by the vote of a majority of the Public Employers, each casting one vote. SECTION 7.4. Procedure. A resolution to terminate or, amend the Retirement Trust or to remove a Trustee shall be submitted to a vote of the Public Employers if: (a) a majority of the Trustees so direct, or (b) a petition requesting a vote, signed by not less than 25% of the Public Employers, is submitted to the Trustees. ARTICLE VIII. Miscellaneous SECTION 8.1. Governing Law, Except as otherwise required by state or local law, this Declaration of Trust and the Retirement Trust hereby created shall be construed and regulated by the laws of the District of Columbia. SECTION 8.2. Counterparts. This Declaration may be executed by the Public Employers and Trustees in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. F