Laserfiche WebLink
without specific instruction from the Agency's Plan Administrator as outlined in <br />Section 7. <br />9. Escheatment of Unclaimed Accounts. PARS will administer the escheatment of <br />Participant accounts which are deemed unclaimed pursuant to applicable state and <br />federal laws, under the conditions further described in the provisions of this <br />Agreement. It is acknowledged by the Agency and Plan Administrator that any <br />escheatment duties that PARS has arise only as a result of contractual, not statutory, <br />obligations that PARS accepts as a delegatee of the Plan Administrator, as contained <br />in this Agreement. For the purposes of determining the timing of distributability <br />under any unclaimed property law, a Participant account becomes "payable or <br />distributable" as of the date on which the Plan Administrator notifies PARS, in an <br />acceptable form of notification, of a change-in-status together with the proper <br />authorization to commence the distribution process. <br />10. Records. Throughout the duration of this Agreement, and for a period of five (5) <br />years after termination of this Agreement, PARS shall provide duly authorized <br />representatives of Agency access to all records and material relating to calculation of <br />PARS' fees under this Agreement. Such access shall include the right to inspect, <br />audit and reproduce such records and material and to verify reports furnished in <br />compliance with the provisions of this Agreement. All information so obtained shall <br />be accorded confidential treatment as provided under applicable law. <br />11. Confidentiality. Without the Agency's consent, PARS shall not disclose any <br />information relating to the Plan except to duly authorized officials of the Agency, <br />subject to applicable law, and to parties retained by PARS to perform specific <br />services within this Agreement. The Agency shall not disclose any information <br />relating to the Plan to individuals not employed by the Agency without the prior <br />written consent of PARS, except as such disclosures may be required by applicable <br />law. <br />12. Independent Contractor. PARS is and at all times hereunder shall be an <br />independent contractor. As such, neither the Agency nor any of its officers, <br />employees or agents shall have the power to control the conduct of PARS, its officers, <br />employees or agents, except as specifically set forth and provided for herein. PARS <br />shall pay all wages, salaries and other amounts due its employees in connection with <br />this Agreement and shall be responsible for all reports and obligations respecting <br />them, such as social security, income tax withholding, unemployment compensation, <br />workers' compensation and similar matters. <br />13. Indemnification. PARS and Agency hereby indemnify each other and hold the other <br />harmless, including their respective officers, directors, employees, agents and <br />attorneys, from any claim, loss, demand, liability, or expense, including reasonable <br />attorneys' fees and costs, incurred by the other as a consequence of PARS' or <br />Agency's, as the case may be, acts, errors or omissions with respect to the <br />performance of their respective duties hereunder. However nothing contained herein <br />shall result in any liability express or implied on behalf of PARS for any plan <br />inadequacies, negligent plan administration or any claim and/or loss arising out of <br />Page 3 <br />55A-9