1988-32
8
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<nt POR A'T'DI;
ICRA ~IRBNEl1 CORPORA!IOH
fRIPARTI!E AGR£ERKBT
88- 03.;1-
bployer A:
E:aployer 15:
Parti.. to this Agr....nt:
City of ClerlT.ont, Florida
City of Boulder City, Nevada
Eaployee:
George D. Forbes
AGREEMENT,
Or -/Ph g.r--
Employee.
WHEREAS, Employer A has established and maintains. an "eli81 ble
de~erred compensation plane. vi thin the aeaning of section 457(b) of
the Internal Revenue Code of 1986 ("Plan A"), and has entered into a
de1'erred compensation agreement vi th Baployee pursuant' to Plan A
("Deferred Compensation Agreement An); and
made and
, 19JŒÐ
entered into
by and eons
this // day of
Employe~d 15 and
WHEREAS, Employer 15 has established and maintains an "eligible
de~erred compensation plan,. within the aeaning of section 457(b) of
the Internal Revenue Code of 1986 ("Plan Bn), and' has entered into a
det'erred compensation agreement vi th Eaployee pur'suant to Plan B
("Deferred Compensation Agreement 15"); and
WHEREAS, - Employee has terminated bis/her
Eaployer AD and is now employed by Employer B; and
WHEREAS, Employee desi res to have his/her' interest in Plan A
t~ansferred to Plan B, and to substitute Employer B for Employer A as
the party obligated to pay his/her deferred compensation accrued
1Uder Plan A; and
employrilent
vith
WHEREAS, Employers A and 15 desire to transfer Employee's
in~ereat in Plan A to Plan 15, and to have Employer E assume Employer
A 0 S çbllgati.on to pay Employee I s deferred c,°Z!1pen,sa t i on accrued under
P1an A; \ '
,
.).
NOW, THEREPORE, in
hereto agree as follovs:
1 . Employer A shall transfer an amount equal to the ent 1 re
value of Employee' a interest in Plan At to Employer 15.. In order to
accomplish this, Emplo~er A hereby directs
lCMA Retirement Corporation , which holds the 88sets
of Employer A related to its obligations under Plan A, to transfPer
the amount stated in the preced ine; sentence t to
ICMA Retirement Corporation t which holds the assets
o~ Employer B related to its obligations under Plan B. The amount so
transferred shall be charged to the account held under Plan A for the
benefi t of Employee, and credited to the account held under Plan E
for the benefit of Employee.
consideration
ot the
above,
the
parties
f"
~
2. Employee releRses Employer A fro. all of its obligations ~o
Employee under P,lan A.
3. Employer! ehall &SSU8e the obliaation 01 !mploye~ ~ ~@ ~ay
benefits to Employee or his/her beneficiary under Plan Ao EmplO1e? ~
aball fulfill tbis obligation by acceptlna tbe "~nt transf.rra~ ~~
accordance vi th paragraph 1, above, and crediting 8uch amount ~o ~j)j~
account held under Plan B for the bene!i t of !II¡;loyee 0 Employee 0 ~
rights vith respect to amounts transferred under t~s Agreement ahall
be determined in accordance vi th Plan B and De:!erred Compens¡.jl'ÎÇioft
Agreement B.
4. Employee shall have no further
Deferred Compensation Agreement A.
5. Nothing contained in this Agreeaent shall create o? œoaify
any right of the Employee to the amount transferred in accord8.ficiZ!
vi th paragraph " above, or to any assets of .ployer A or Employe?
B, except as specifically provided in Plan B or Deferred CompeDsati~~
Agreement B.
rights under
Plaü A oX'
6. 'l'he parties shall take all actions neceesa~y to caf'1i'¿7 @1!!t
the intent of this Agreement, including, but not, limited ~@p
notifying and directing any persons holding funds under Plan A @)i"
Plan B to make or accept the required transfers.
7. This Agreemen~ shall be binding upon
benefiei.aries, successors; assigns, and heirs.
IN WITNESS WHEREOP, the, parties hereto
signatures and affixed their seals on the day
abov~. .
the partieso and ~hei~
have set forth ~fiei)i"
and year fl~st ~f'i~ten
Eli'PLOYER A
City of Clermont, Florida
BY:
v~~~.
A'!'!EST: .!:)pjJ.~o~ ~
!ITLE
e/-I¡ A1á41J~
TITLE
EMPLOYER B
City of Boulder City, Nevada
EMPLOYEE:
Æ-h/crF ~~-
([2Jl)~¡ J/. t:~~
~O~
~ITLB rr /'Vnrvc:. (? - Vr R(">c/(»(
BY:
AT!EST:
~ITLE CITY'
r L E'IZ \"("
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