Common use of Adoption of Investment Policy and Appointment of Investment Manager Clause in Contracts

Adoption of Investment Policy and Appointment of Investment Manager. The Trustees shall, from time to time, determine the immediate and long term financial requirements of each Benefit Plan and establish investment and funding policies and guidelines intended to meet the objectives and financial needs of each Benefit Plan. The Trustees shall have the power and authority to appoint one or more Investment Managers who shall be responsible for the management, acquisition, disposition, investment and reinvestment of such of the assets of the Trust as the Trustees shall specify and to terminate any such appointment upon thirty (30) days written notice. The fees and expenses of such Investment Manager, to the extent permitted by law, shall be paid out of the Trust. In the event the Trustees appoint an Investment Manager or Managers, to the fullest extent permitted by law the Trustees shall be relieved of their fiduciary responsibilities with regard to the assets under the control of the Investment Manager or Managers.

Adoption of Investment Policy and Appointment of Investment Manager. The Trustees shall, from time to time, determine the immediate and long term financial requirements of each Benefit Plan the Fund and establish investment and funding policies and guidelines intended to meet the objectives and financial needs of each Benefit Planthe Fund. The Trustees shall have the power and authority to appoint one or more Investment Managers who shall be responsible for the management, acquisition, disposition, investment and reinvestment of such of the assets of the Trust as the Trustees shall specify and to terminate any such appointment upon thirty (30) days written notice. The fees and expenses of such Investment Manager, to the extent permitted by law, shall be paid out of the Trust. In the event the Trustees appoint an Investment Manager or Managers, to the fullest extent permitted by law the Trustees shall be relieved of their fiduciary responsibilities with regard to the assets under the control of the Investment Manager or Managers.