BC 1989 12 04 - Laserfiche WebLink

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263 the applicable percentage set forth in the table below through December 31, 2000. No amount shall be due to PEBSCO under this paragraph beginning January 1, 2001. Participant Years Of Participation* Beginning July 1, 1985 Percentage 1-12 4% 13 3% 14 2% 15 1% 16 & Thereafter 0% *Participant Years of Participation credited toward the schedule of percentages set forth above may only be those years earned beginning with the date a Plan participant's first deferral was credited to the Member County's account, on or after July 1, 1985, under a product to which the above charges apply. C. NACoVA The Member County hereby agrees that it will exchange the current Nationwide Life Insurance Company DCVA variable annuity contract for the Nationwide Life Insurance Company NACoVA variable annuity contract upon the offering of the latter under the Program. The .Member County agrees to and understands that NACo Services will establish, maintain and change, as appropriate, the performance criteria for the mutual funds which will be offered under, added to, or removed from, the NACoVA and the Program. VII. TERMINATION: A. MEMBER COUNTY Member County may terminate this Agreement upon 90 days' written notice to NACoServices and PEBSCO if NACoServices or PEBSCO fails to perform any of their obligations hereunder. During such 90 day period, the defaulting party shall have the right to cure the default or breach. Any written notice given hereunder shall specifically state the nature of the default or breach. B. ~NACoSERVICES OR PEBSCO If the Member County fails to agree, whether by act or omission, to the terms and conditions for participation in the Program, NACoServices or PEBSCO shall have the right to terminate this Agreement upon 90 days' written notice to the Member County; provided, however, the Member County may cUre the default or omission within 90 days immediately following the date of said notice. VIII. CONTRACT TERM This'Agreement is effective until written notice of termination pursuant to Article VII above is provided by any party. NACoSERVICE /s/ John Gorman Title: Executive Director MEMBER COUNTY /s/ James W. Lentz Title: Chairman PUBLIC EMPLOYEES BENEFIT SERVICES CORPORATION /s/ Joseph G. Wilkerson Title: President UPON MOTION of Chairman Lentz, seconded by Commissioner Melvin and unanimously carried, the Board by resolution changed the second regular meeting of the Board from 7:00 P.M. on Monday, December 18, 1989, to 6:00 P.M. on Wednesday, December 20, 1989. The Board set a work session to review the proposed Cabarrus County Personnel Ordinance for 8:00 A.M. on Monday, December 11, 1989. Chairman Lentz asked that Board members receive notice of any Low-Level Radioactive Waste meetings.