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STATE OF '" COUNTY OF The Cabarrus County Board of Commisssiouers, on the day of .... 1981. adopted the following IN THE MATTER OP ESTABLISHIKG A DEFERRED COMPENSATION PLAN FOR THE COUNTY OF WHEREAS, the County has considered the establishment o[a Deferred Compensatlon Plan to be made available to all eligible County employees, elected ofl[icials, and ihdependent contractors pursuant to Section 457 of the Internal ReYenue Code permitting such Plans; and WItEREAS, certain tax benefits could accrue to employees, elected officials, and indepen- dent contractors participating in said Deferred Compensation Plans; and WHEREAS, such Benefits will act as incentives to County employees to voluntarily set aside and invest portions of their current income lo meet their future financial requirements and .supplement their County retirement and Social Security (if applicable); and WHEREAS, the National Association of Counties has established a Master Deferred Com- pensation Program for its member Counties, permitting irs member Counties and their employees to enjoy the advantages of this Program; WHEREAS, by adoption of the NACo Program, all regulatory, operational, administrative and fiduciary responsibilities are hereby assumed by NACo in behalf of County; and WHEREAS, NACo, as Plan Administrator, agrees to hold harmless and indemnify the County~ its appointed and elected officers and participating employees from any loss resulting from NACo or its Agent's failure to perform its duties and services pursuant to the NACo Program; iWO~z, THEREFORE THE COUNTY GOVERNING BODY DOE5 HEREBY RESOLVE AS FOLLOWS: The County governing body, meeting in regular 'scheduled session, this day of , 19, hereby adopts the National Association of Counties~Deferred Compensation Program and hereby establishes the County of Deferred Compensation Plan for the voluntary participation ol all eligible County em- ployees, elected officials and independent contractors. The County Mana~e't' is hereby authorized to-excc[~e for the County, individual participation agreements with each said employee requesting seine, and to act as the -AdminisIrator" of the Plan representing the program. It is implicitly understood that, other than the incidental expenses of collecting amd disbursing ol the employees' deferrals and other minor administrative matters, there is ~o be no cost or contribution by the County to ~he program. IT 15 HEREBY FURTHER ORDERED, that a true copy of this '~Resolution be spread upon the, record of this date. ./ iTiTLE)