Common use of Resignation and Successor Trustees Clause in Contracts

Resignation and Successor Trustees. (a) Any Trustee may resign by providing written notice to the other Trustees and Michigan Teamsters Joint Council No. 43 ten (10) days in advance of the effective date of the resignation. (b) In cases of vacancies in the Board of Trustees, the Michigan Teamsters Joint Council No. 43 shall appoint successor Trustees to fill any Union Trustee vacancy. Remaining Employer Trustee(s), by majority vote, shall appoint successor Trustees to fill any Employer Trustee vacancy. An individual is eligible to serve as an Employer Trustee if he (i) is an officer or employee of an Employer, other than the Union, Local Union, or the Trust, or (ii) as of June 4, 2010, has served as an Employer Trustee of the Trust for at least two years. A Trustee appointed to fill a vacancy who has signed an Acceptance of Trust in a form satisfactory to the other Trustees shall, without further act, become vested with all of the estate, rights, powers, discretion and duties of the predecessor Trustee as if originally designated a Trustee, and the Trust Fund shall vest in the successor Trustee, together with the continuing Trustees, without any further act or conveyance. (c) In the event of the removal of a Trustee for cause, the removing party shall notify the Trustees of the removal within five (5) business days after the removal. "Cause" means malfeasance with respect to an individual's duties as a Trustee, including, but not limited to, a pattern of failure to attend scheduled Board of Trustees meetings without good reason.

Resignation and Successor Trustees. (a) Any Trustee may resign by providing written notice to the other Trustees and Michigan Teamsters Joint Council No. 43 ten (10) days in advance of the effective date of the resignation. (b) In cases of vacancies in the Board of Trustees, the Michigan Teamsters Joint Council No. 43 shall appoint successor Trustees to fill any Union Trustee vacancy. Remaining Employer Trustee(s), by majority vote, shall appoint successor Trustees to fill any Employer Trustee vacancy. An individual is eligible to serve as an Employer Trustee if he (i) is an officer or employee of an Employer, other than the Union, Local Union, or the Trust, or (ii) as of June 4March 31, 20102020, has served as an Employer Trustee of the Trust for at least two years. A Trustee appointed to fill a vacancy who has signed an Acceptance of Trust in a form satisfactory to the other Trustees shallTrusteesshall, without further act, become vested with all of the estate, rights, powers, discretion and duties of the predecessor Trustee as if originally designated a Trustee, and the Trust Fund shall vest in the inthe successor Trustee, together with the continuing Trustees, without any further act or conveyance. (c) In the event of the removal of a Trustee for cause, the removing party shall notify the Trustees of the removal within five (5) business days after the removal. "Cause" means malfeasance with respect to an individual's duties as a Trustee, including, but not limited to, a pattern of failure to attend scheduled Board of Trustees meetings without good reason.

Resignation and Successor Trustees. (a) Any Trustee may resign by providing written notice to the other Trustees and Michigan Teamsters Joint Council No. 43 ten (10) days in advance of the effective date of the resignation. (b) In cases of vacancies in the Board of Trustees, the Michigan Teamsters Joint Council No. 43 shall appoint successor Trustees to fill any Union Trustee vacancy. Remaining Employer Trustee(s), by majority vote, shall appoint successor Trustees to fill any Employer Trustee vacancy. An individual is eligible to serve as an Employer Trustee if he (i) is an officer or employee of an Employer, other than the Union, Local Union, or the TrustFund, or (ii) as of June 4, 2010, has served as an Employer Trustee of the Trust Fund for at least two years. A Trustee appointed to fill a vacancy who has signed an Acceptance of Trust in a form satisfactory to the other Trustees shall, without further act, become vested with all of the estate, rights, powers, discretion and duties of the predecessor Trustee as if originally designated a Trustee, and the Trust Fund shall vest in the successor Trustee, together with the continuing Trustees, without any further act or conveyance. (c) In the event of the removal of a Trustee for cause, the removing party shall notify the Trustees of the removal within five (5) business days after the removal. "Cause" means malfeasance with respect to an individual's duties as a Trustee, including, but not limited to, a pattern of failure to attend scheduled Board of Trustees meetings without good reason.

Resignation and Successor Trustees. (a) Any Trustee may resign by providing written notice to the other Trustees Trustees, the Employer Associations and Michigan Teamsters Joint Council No. 43 Union ten (10) days in advance of the effective date of the resignation. (b) In cases of vacancies in the Board of Trustees, the Michigan Teamsters Joint Council No. 43 Union or Employer Associations shall appoint successor Trustees to fill any Union Trustee vacancyvacancy in their representation. Remaining In the absence of action by an Employer Trustee(s), by majority vote, shall appoint successor Trustees to fill any Association within thirty (30) days following an Employer Trustee vacancy. An individual is eligible to serve as an , and assuming that there are two Employer Trustees, such Employer Trustees may appoint a third Employer Trustee if he (i) is an officer or employee of an Employer, other than to fill the Union, Local Union, or the Trust, or (ii) as of June 4, 2010, has served as an Employer Trustee of the Trust for at least two yearsvacancy. A Trustee appointed to fill a vacancy who has signed an Acceptance of Trust in a form satisfactory to the other Trustees shall, without further act, become vested with all of the estate, rights, powers, discretion and duties of the predecessor Trustee as if originally designated a Trustee, and the Trust Fund shall vest in the successor Trustee, together with the continuing Trustees, without any further act or conveyance. (c) In the event of the removal of a Trustee for cause, the removing party shall notify the Trustees and the Employer Associations or Union, as applicable, of the removal within five (5) business days after the removal. "Cause" means malfeasance with respect . (d) An individual who ceases to an individual's duties as be a Trustee, including, but not limited to, a pattern Trustee shall forthwith turn over to the remaining Trustees at the office of failure to attend scheduled the Board of Trustees meetings without good reasonall records, books, documents, moneys and other property in his or her possession owned by the Trust or incident to the fulfillment of the Trust Agreement and administration of the Trust.