1987 015 Resolution - Laserfiche WebLink

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z (c) Participation Agreement - An agreement between the Employer and each Participating Employee by which an Eligible Employee adopts the Plan Agreement and elects to became a Participating Employee under the Plan. (d) Eligible Employees - All employees of the Employer who are e]igible under Section 145.71 (A), and Ohio Revised Code. (e) Participating Employees - All Eligible Employees who elect to participate under the Plan. (f) Continuing Member - Any former Participating Employee who is not currently having compensation deferred, or his beneficiary to whom payment of the Participating Employee's deferred compensation is being made. (2) APPOINTMENT OF BOARD AS AGENT OF EMPLOYER - Employer hereby adopts the Plan Agreement, attached hereto as Exhibit A, to be administered by the Board under the Program. Employer further appoints the Board as its agent to (i) execute the Plan Agreement on behalf of the Employer; (ii) execute Participation Agreements with any Eligible Employee of Employer through which such Eligible Employee becomes a member of the Plan; (iii) enroll all Eligible Employees in the Plan; and (iv) administer the Plan on behalf of the Employer in accordance with the terms of the Plan Agreement. The term "administer the Plan" as used in this paragraph shall include, but not be limited to, the following acts which the Board is specifically authorized and required to perform on the behalf of the Employer. The Board shall: (1) Invest all Plan assets in those investment options made available to and selected by Eligible Employees under the Plan. Title to the Plan assets shall, at all times, be vested in the Employer though the Board shall hold the assets in its name for the benefit of the Employer. All insurance contracts issued under the Plan will be ap~iied for by the Board and held in its name as owner and bene- ficiary, though the Board only holds such policies for the benefit of the Employer. ...."_ .