Supercuts 2007 Annual Report Download - page 169
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TRUST AGREEMENT, dated as of March 1, 2007, between Regis Corporation, a Minnesota Corporation, having an office at 7201
Metro Boulevard, Edina, MN 55439 (the “Sponsor”), and FIDELITY MANAGEMENT TRUST COMPANY, a Massachusetts trust
company, having an office at 82 Devonshire Street, Boston, Massachusetts 02109 (the “Trustee”).
WITNESSETH:
WHEREAS, the Sponsor is the sponsor of the Regis Corporation Executive Retirement Savings Plan (the “Plan”); and
WHEREAS, the Sponsor wishes to establish an irrevocable trust and to contribute to the trust assets that shall be held therein, subject
to the claims of Sponsor’s creditors in the event of Sponsor’s Insolvency, as herein defined, until paid to Participants and their beneficiaries in
such manner and at such times as specified in the Plan; and
WHEREAS, it is the intention of the parties that this Trust shall constitute an unfunded arrangement and shall not affect the status of
the Plan as an unfunded plan maintained for the purpose of providing deferred compensation for a select group of management or highly
compensated employees for purposes of Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”); and
WHEREAS, it is the intention of the Sponsor to make contributions to the trust to provide itself with a source of funds to assist it in
the meeting of its liabilities under the Plan; and
WHEREAS, the Trustee is willing to hold and invest the aforesaid plan assets in trust among several investment options selected by
the Sponsor; and
WHEREAS,
the Sponsor wishes to have the Trustee perform certain ministerial recordkeeping and administrative functions under the
Plan; and
WHEREAS, Regis Corporation (the “Administrator”) is the administrator of the Plan; and
WHEREAS, the Trustee is willing to perform recordkeeping and administrative services for the Plan if the services are purely
ministerial in nature and are provided within a framework of plan provisions, guidelines and interpretations conveyed in writing to the Trustee
by the Administrator.
NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements set forth below, the
Sponsor and the Trustee agree as follows:
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