1987 015 Resolution - Laserfiche WebLink

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•_ (Other info & original copy retained by Finance Dept.) AGREEMENT This AGREEMENT executed this sixth day of April ~ 1g 87 between the Ohio Public Employees Deferred Compensation Board (hereinafter "BOARD") and the village of Mayfield (hereinafter "EMPLOYER"). WITNESSETH: WHEREAS, the General Assembly of the State of Ohio has enacted Sections 145.71, 145.72, and 145.73 of the Ohio Revised Code authorizing the creation of the Ohio Public Employees Deferred Compensation Board and the establish- ment of the Ohio Public Employees Deferred Compensation Program (the "Program"); and WHEREAS, The Board.. is authorized by this legislation to implement and administer plans under the Program; and WHEREAS, under the Program, all "Eligible Employees" as defined in division (A) of Section 145.71 of the Ohio Revised Code are permitted to contract with their employer for the deferral of compensation; and WHEREAS, Employer's employees are "Eligible Employees; and 1dHEREAS, Employer has, by an act of its council on the 2nd day of March 1g 87 , adopted a plan under the Program for the benefit of its employees; and WHEREAS, Employer wishes to establish, pursuant to the Program, a Plan of deferred compensation which shall be administered by the Board as part of the Program; NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein, the parties do agree as follows: (1) DEFINITIONS - The following terms when used herein, shall have the designated meaning, unless a different meaning is plainly required by the context: (a) Plan - The Piayfield Village Employees Deferred Compensation Plan (b) Plan Agreement - The document executed by the Employer which sets forth the terms and conditions governing the deferral of Eligible Employees' compensation.