Use of an Affiliated Broker. The Company hereby directs the Master Trustee to use FBSI to provide brokerage services in connection with any purchase or sale of Ford Stock in accordance with directions from Participants. FBSI shall execute such directions directly or through its affiliate, National Financial Services Company ("NFSC"), on a best execution basis. The provision of brokerage services shall be subject to the following: (a) As consideration for such brokerage services, the Company agrees that FBSI shall be entitled to remuneration under this authorization provision in the amount of 3.5 cents commission from the Company on each share of Ford Stock, provided that no purchases shall be payable on transactions with the Company. Any change in such remuneration may be made only by a signed agreement between Company and Master Trustee. (b) Following the procedures set forth in Department of Labor Prohibited Transaction Class Exemption 86-128, the Master Trustee will provide the Company with the following documents: (1) a description of FBSI's brokerage placement practices; (2) a copy of PTCE 86-128; and (3) a form by which the Company may terminate this authorization to use a broker affiliated with the Master Trustee. The Master Trustee will provide the Company with this termination form annually, as well as an annual report which summarizes all securities transaction-related charges incurred by the Plans, and the Plans' annualized turnover rate. (c) Any successor organization of FBSI, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the successor broker in accordance with the terms of this authorization provision. (d) The Master Trustee and FBSI shall continue to rely on this authorization provision until notified to the contrary. The Company reserves the right to terminate this authorization upon sixty (60) days prior written notice to FBSI (or its successor) and the Master Trustee.
Appears in 2 contracts
Samples: Master Trust Agreement (Associates First Capital Corp), Master Trust Agreement (Associates First Capital Corp)
Use of an Affiliated Broker. The Company Named Fiduciary --------------------------- hereby directs the Master Trustee to use FBSI NFSLLC to provide brokerage services in connection with any purchase or sale of Ford FMC Stock on the open market, except in circumstances where the Trustee has determined, in accordance with directions from Participantsits standard trading guidelines or pursuant to Sponsor direction, to seek expedited settlement of the trades. FBSI NFSLLC shall execute such directions directly or through any of its affiliate, National Financial Services Company ("NFSC"), on a best execution basisaffiliates. The provision of brokerage services shall be subject to the following: :
(a1) As consideration for such brokerage services, the Company Named Fiduciary agrees that FBSI NFSLLC shall be entitled to remuneration under this authorization direction provision in the an amount of 3.5 no more than three and one-fifth cents ($.032) commission from the Company on each share of Ford FMC Stock, provided that no purchases shall be payable on transactions with the Company. Any change in such remuneration may be made only by a signed agreement between Company the Named Fiduciary and Master Trustee. .
(b2) Following the procedures set forth in Department of Labor Prohibited Transaction Class Exemption 86-128, the Master The Trustee will provide the Company Named Fiduciary with the following documents: (1) a description of FBSI's brokerage placement practices; (2) a copy of PTCE 86-128; and (3) a form by periodic reports which the Company may terminate this authorization to use a broker affiliated with the Master Trustee. The Master Trustee will provide the Company with this termination form annually, as well as an annual report which summarizes summarize all securities transaction-related charges incurred by the Plans, and the Plans' annualized turnover ratewith respect to trades of FMC Stock for such Plan.
(c3) Any successor organization of FBSINFSLLC, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the successor broker in accordance with the terms of this authorization direction provision.
(d4) The Master Trustee and FBSI NFSLLC shall continue to rely on this authorization direction provision until notified to the contrary. The Company Named Fiduciary reserves the right to terminate this authorization direction upon sixty (60) days prior written notice to FBSI NFSLLC (or its successor) and the Master Trustee, in accordance with Section 12 of this Agreement.
Appears in 2 contracts
Samples: Trust Agreement (FMC Corp), Trust Agreement (FMC Technologies Inc)
Use of an Affiliated Broker. The Company Named Fiduciary hereby directs the Master Trustee to use FBSI NFSLLC to provide brokerage services in connection with any purchase or sale of Ford FMC Technologies Stock on the open market, except in circumstances where the Trustee has determined, in accordance with directions from Participantsits standard trading guidelines or pursuant to Sponsor direction, to seek expedited settlement of the trades. FBSI NFSLLC shall execute such directions directly or through any of its affiliate, National Financial Services Company ("NFSC"), on a best execution basisaffiliates. The provision of brokerage services shall be subject to the following: :
(a1) As consideration for such brokerage services, the Company Named Fiduciary agrees that FBSI NFSLLC shall be entitled to remuneration under this authorization direction provision in the an amount of 3.5 no more than three and one-fifth cents ($.032) commission from the Company on each share of Ford FMC Technologies Stock, provided that no purchases shall be payable on transactions with the Company. Any change in such remuneration may be made only by a signed agreement between Company the Named Fiduciary and Master Trustee. .
(b2) Following the procedures set forth in Department of Labor Prohibited Transaction Class Exemption 86-128, the Master The Trustee will provide the Company Named Fiduciary with the following documents: (1) a description of FBSI's brokerage placement practices; (2) a copy of PTCE 86-128; and (3) a form by periodic reports which the Company may terminate this authorization to use a broker affiliated with the Master Trustee. The Master Trustee will provide the Company with this termination form annually, as well as an annual report which summarizes summarize all securities transaction-related charges incurred by the Plans, and the Plans' annualized turnover ratewith respect to trades of FMC Technologies Stock for such Plan.
(c3) Any successor organization of FBSINFSLLC, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the successor broker in accordance with the terms of this authorization direction provision.
(d4) The Master Trustee and FBSI NFSLLC shall continue to rely on this authorization direction provision until notified to the contrary. The Company Named Fiduciary reserves the right to terminate this authorization direction upon sixty (60) days prior written notice to FBSI NFSLLC (or its successor) and the Master Trustee, in accordance with Section 12 of this Agreement.
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Use of an Affiliated Broker. The Company hereby directs the Master Trustee to use FBSI to provide brokerage services in connection with any purchase or sale of Ford Stock in accordance with directions from Participants. FBSI shall execute such directions directly or through its affiliate, National Financial Services Company ("NFSC"), on a best execution basis. The provision of brokerage services shall be subject to the following: :
(a) As consideration for such brokerage services, the Company agrees that FBSI shall be entitled to remuneration under this authorization provision in the amount of 3.5 cents commission from the Company on each share of Ford Stock, provided that no purchases shall be payable on transactions with the Company. Any change in such remuneration may be made only by a signed agreement between Company and Master Trustee. .
(b) Following the procedures set forth in Department of Labor Prohibited Transaction Class Exemption 86-128, the Master Trustee will provide the Company with the following documents: (1) a description of FBSI's brokerage placement practices; (2) a copy of PTCE 86-128; and (3) a form by which the Company may terminate this authorization to use a broker affiliated with the Master Trustee. The Master Trustee will provide the Company with this termination form annually, as well as an annual report which summarizes all securities transaction-related charges incurred by the Plans, and the Plans' annualized turnover rate.
(c) Any successor organization of FBSI, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the successor broker in accordance with the terms of this authorization provision.
(d) The Master Trustee and FBSI shall continue to rely on this authorization provision until notified to the contrary. The Company reserves the right to terminate this authorization upon sixty (60) days prior written notice to FBSI (or its successor) and the Master Trustee.
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Use of an Affiliated Broker. The Company Named Fiduciary hereby directs the Master Trustee to use FBSI NFSLLC to provide brokerage services in connection with any purchase or sale of Ford FMC Stock on the open market, except in circumstances where the Trustee has determined, in accordance with directions from Participantsits standard trading guidelines or pursuant to Sponsor direction, to seek expedited settlement of the trades. FBSI NFSLLC shall execute such directions directly or through any of its affiliate, National Financial Services Company ("NFSC"), on a best execution basisaffiliates. The provision of brokerage services shall be subject to the following: :
(a1) As consideration for such brokerage services, the Company Named Fiduciary agrees that FBSI NFSLLC shall be entitled to remuneration under this authorization direction provision in the an amount of 3.5 no more than three and one-fifth cents ($.032) commission from the Company on each share of Ford FMC Stock, provided that no purchases shall be payable on transactions with the Company. Any change in such remuneration may be made only by a signed agreement between Company the Named Fiduciary and Master Trustee. .
(b2) Following the procedures set forth in Department of Labor Prohibited Transaction Class Exemption 86-128, the Master The Trustee will provide the Company Named Fiduciary with the following documents: (1) a description of FBSI's brokerage placement practices; (2) a copy of PTCE 86-128; and (3) a form by periodic reports which the Company may terminate this authorization to use a broker affiliated with the Master Trustee. The Master Trustee will provide the Company with this termination form annually, as well as an annual report which summarizes summarize all securities transaction-related charges incurred by the Plans, and the Plans' annualized turnover ratewith respect to trades of FMC Stock for such Plan.
(c3) Any successor organization of FBSINFSLLC, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the successor broker in accordance with the terms of this authorization direction provision.
(d4) The Master Trustee and FBSI NFSLLC shall continue to rely on this authorization direction provision until notified to the contrary. The Company Named Fiduciary reserves the right to terminate this authorization direction upon sixty (60) days prior written notice to FBSI NFSLLC (or its successor) and the Master Trustee, in accordance with Section 12 of this Agreement.
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