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<br />DEFERRED a:t1PENSATION PIAN AGREEMENl' <br /> <br />'!his AgreeIrent is effective this day of by arrl between GRFAT <br />WESTERN PANK, a Federal Sav.inJs Bank, hereinafter referred to as GREAT WESTERN, <br />and CITY OF REa\tDD CITY, hereinafter referred to as AGENCY. <br /> <br />WHEREAS, AGENCY, pursuant to and in cx::atpliance with Internal Revenue Code <br />Section 457, has established a Deferred Compensation Plan, hereinafter referred <br />to as PIAN; and <br /> <br />WHEHEAS, AGENCY desires to utilize GREAT WESTERN in the perfo:nncmce of certain <br />services in connection with the administration of the PIAN; and <br /> <br />WHEREAS, GREA'I' WESTERN desires to provide such services subject to the terms <br />and conditions set forth herein; <br /> <br />Now therefore, AGENCY and GREAT WESTERN agree as follCMS: <br /> <br />1. TERM: '!his Agreement shall remain in effect for a period of three (3) <br />years from the effective date hereof, and shall not be terminated prior to <br />that time except for "Cause" as that term is hereinafter defined. For <br />purposes of this Agreement, the term "Cause" shall mean the failure of <br />either party to perform any or all of its obligations as defined herein. <br />'!he non-defaultin] party shall give the defaulting' party written notice <br />which shall specify the particulars of the default. If such default is not <br />cured within sixty (60) days from the errl of the lTOnth in which notice of <br />default is given, the non-defaultin] party may teminate the AgreeIrent <br />effective thirty (30) clays after the errl of the sixty (60) day pericxI. <br /> <br />For purposes of this Agreement, "Contract Year" shall mean the pericxI of <br />time between the effective date of the Contract, and the same day of the <br />month in each succeed.inJ year; the first Contract Year, hcwever, shall be <br />exterrled, if necessary in order to ensure that evert Contract Year will errl <br />on the last day of a calendar lTOnth. <br /> <br />2. TERMINATION: Upon the effective date of termination of this AgreeIrent, <br />other than for Cause as defined above, the follawing shall cxx::ur: <br /> <br />a. No new account will be established urrler this AgreeIrent. <br /> <br />b. If applicable, mutual furrl shares shall be disbursed as mutually <br />agreed in writ.inJ by AGENCY and GREAT WESTERN. <br /> <br />c. If applicable, armuity prcx:lucts shall be disbursed accordin] to the <br />tenus of the applicable armuity contract, as mutually agreed in <br />writ.inJ by AGENCY and annuity provider. <br /> <br />- 1 - <br /> <br />11099 <br />