Trustee Agreement Document

TRUSTEE AGREEMENT

This Trustee Agreement ("Agreement") is made effective as of by and between Settlor Name: (the "Settlor") and Trustee Name: (the "Trustee"). The parties hereby agree as follows:

RECITALS

WHEREAS, Settlor has established or intends to establish a trust identified as Trust Name: (the "Trust") for the purposes described herein; and

WHEREAS, Settlor desires to appoint Trustee to serve as trustee of the Trust and Trustee is willing to accept such appointment upon the terms and conditions set forth in this Agreement; and

WHEREAS, the parties intend by this Agreement to set forth the powers, duties, compensation and other terms governing Trustee's administration of the Trust property.

NOW THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. APPOINTMENT AND ACCEPTANCE

1.1 Appointment. Settlor hereby appoints Trustee to act as trustee of the Trust and Trustee accepts such appointment and agrees to perform the duties and exercise the powers set forth in this Agreement and applicable law.

1.2 Term. Trustee shall serve until resignation, removal, incapacity, or successor appointment pursuant to Section 8. The Trust shall continue in effect until termination pursuant to the Trust instrument or applicable law.

2. DEFINITIONS

2.1 "Trust Property" means all assets, whether real, personal, tangible or intangible, that are transferred to, held or administered by Trustee for the benefit of the beneficiaries of the Trust.

2.2 Other capitalized terms used in this Agreement shall have the meanings given in the Trust instrument, or if not defined therein, as set forth in applicable law.

3. TRUSTEE POWERS

3.1 General Powers. Trustee shall have all powers permitted by the Trust instrument and by law. Without limiting the foregoing, Trustee is granted the following powers, exercisable in Trustee's sole discretion and subject to any express limitations in the Trust instrument:

• Invest, reinvest and manage investments of Trust Property;
• Sell, exchange, lease or encumber Trust Property;
• Borrow funds and pledge Trust Property as security;
• Compromise or settle claims on behalf of the Trust;
• Delegate investment and administrative functions to agents or advisors in accordance with applicable law;
• Make distributions to beneficiaries as directed by the Trust instrument and this Agreement.

4. DUTIES OF TRUSTEE

4.1 Standard of Care. Trustee shall administer the Trust with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent trustee would use in similar circumstances and shall act impartially with respect to beneficiaries.

4.2 Records and Accounting. Trustee shall keep accurate records of all Trust transactions and shall render accountings to beneficiaries as required by the Trust instrument or by law. Trustee shall preserve records for a reasonable period after termination of the Trust.

5. TRUST PROPERTY; FUNDING

6. COMPENSATION AND EXPENSES

6.1 Trustee Compensation. Trustee shall be entitled to compensation in accordance with the following: Compensation Method: Amount or Rate:

6.2 Expenses. Trustee shall be reimbursed for reasonable out-of-pocket expenses incurred in the administration of the Trust, including legal, accounting and investment advisory fees.

7. BOND

7.1 Bond Requirement. Trustee shall be required to obtain a trustee bond. If a bond is required, the amount of the bond shall be and the cost of the bond shall be paid from Trust assets.

8. RESIGNATION, REMOVAL AND SUCCESSOR TRUSTEE

8.1 Resignation. Trustee may resign by delivering written notice to Settlor and any co-trustees and to the beneficiaries as required by law. Resignation shall be effective upon appointment of a successor trustee or as otherwise provided in the Trust instrument.

8.2 Removal. Trustee may be removed for cause as provided in the Trust instrument or by court order. Removal procedures shall comply with applicable law.

9. LIABILITY AND INDEMNIFICATION

9.1 Limitation of Liability. Except for willful misconduct, gross negligence or breach of trust, Trustee shall not be liable for losses resulting from Trustee's actions or omissions in good faith and in reliance on advice of counsel or other professionals retained in good faith.

9.2 Indemnification. The Trust shall indemnify and hold Trustee harmless from and against all claims, liabilities and expenses reasonably incurred in connection with the administration of the Trust, including attorney's fees, except to the extent caused by Trustee's willful misconduct or gross negligence.

10. ACCOUNTING; RECORDS

Trustee shall provide accountings to beneficiaries at least or as otherwise required by the Trust instrument. Trustee shall retain records of receipts, disbursements and investments for a reasonable period and shall permit beneficiaries or their authorized representatives to examine such records at reasonable times.

11. CONFIDENTIALITY

Trustee shall keep confidential all nonpublic information concerning the Trust and its beneficiaries, except as necessary to perform Trustee's duties, as required by law, or as otherwise authorized in writing by Settlor or beneficiaries.

12. NOTICES

12.1 Notices. All notices, consents and other communications required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally, sent by certified mail, return receipt requested, or by nationally recognized overnight courier to the addresses set forth below or to such other address as either party may designate in writing.

13. AMENDMENT; WAIVER

13.1 Amendment. This Agreement may be amended only by a writing signed by both Settlor and Trustee, except as otherwise provided in the Trust instrument.

13.2 Waiver. No waiver by any party of any breach of this Agreement shall be deemed a waiver of any preceding or subsequent breach.

14. COUNTERPARTS; ELECTRONIC SIGNATURES

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures transmitted by facsimile or electronic image shall be binding as originals.

15. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles.

16. ENTIRE AGREEMENT

This Agreement, together with the Trust instrument and any schedules or exhibits delivered herewith, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.

17. SEVERABILITY

If any provision of this Agreement is held invalid, illegal or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect and shall be construed so as to effect the intent of the parties to the maximum extent permitted by law.

18. MISCELLANEOUS

18.1 Successors and Assigns. This Agreement is binding upon and inures to the benefit of the parties and their respective successors, assigns and legal representatives to the extent permitted by the Trust instrument and applicable law.

Sign Now