Common use of Trustee Expenses and Compensation Clause in Contracts

Trustee Expenses and Compensation. Trustees are entitled to reimbursement from the Trust Fund for their reasonable cost of necessary expenses properly and actually incurred in the performance of their duties under the Trust and each Benefit Plan, including, without limitation, attendance at meetings and other functions of the Board or Trustees or its committees or while on business of the Board of Trustees, and attendance at institutes, seminars, conferences or workshops for or on behalf of the Trust or any Benefit Plan. Reasonable and necessary expenses incurred by a Trustee for the defense of actual or threatened litigation arising out of his or her duties as a fiduciary of a Benefit Plan may be paid out of the assets of the Trust as determined by the Trustees, in their sole discretion and in accordance with the provisions of ERISA. Trustees who are not receiving full-time pay from an Employer, Union or Local Union may be paid reasonable compensation on a per day and/or per hour basis, in addition to reimbursement for reasonable and necessary expenses properly and actually incurred, for attending regular or special meetings of the Board of Trustees or for services rendered while performing specific assignments, which rate shall be established and reestablished by the Trustees from time to time. Reasonable compensation may also include payments to the Trust to provide coverage from a Benefit Plan for Trustees who elect such coverage.