55E - RESO - DESIGNEE FOR RETIREMENT PLAN

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VantageTrust 11 Multiple Collective Investment Funds Trust Im This participation Agreement by and between VantageTrust Company, LLC ("Trust Company "), the trustee of the VantageTrust II Multiple Collective Investment Funds Trust (the "Trust"), and the employer executing this Participation Agreement ( "Employer) on behalf of the retirement plan(s) or retirement trust(s) Identified on the signature page and effective as of the date specified at the end of this Agreement (the "Retirement Trust"). RECITALS 1. The Trust Company maintains the Trust (including each separate Investment fund established as a "Fund ") under the Declaration of Trust dated January 1, 2015, and all other attachments thereto, as amended and In effect from time to time (the "Declaration of Trust "), as a medium for the collective investment and reinvestment of assets of certain tax - exempt, governmental pension and profit - sharing plans, and retiree welfare plans within the meaning of section 401(a)(24) of the Internal Revenue Code of 1986, as amended, and related trusts, and other eligible investors that become Participating Trusts under the Declaration of Trust (defined as "Eligible Trust" in the Declaration of Trust). 2. The Retirement Trust desires to become a Participating Trust as defined In the Declaration of Trust. DEFINITIONS 1. Unless otherwise specified herein, any capitalized word or phrase shall have the meaning as set forth In the Declaration of Trust. AGREEMENT In consideration of the foregoing and the promises set forth below, the parties agree to the following: 1. Appointment and Acceptance. The Employer hereby acknowledges that the Trust Company has appointed ICMA Retirement Corporation ( "Investment Adviser "), an investment adviser registered under the Investment Advisers Act of 1940, as an investment adviser, pursuant to the terms of the Declaration of 'Trust to provide advice and recommendations to the Trust Company in the management of the Funds. The Employer further acknowledges and accepts that the Trust Company Is a wholly owned subsidiary of Investment Adviser. 3. Adoption of Trust. The Retirement Trust's participation in each Fund will at all times be subject to the terms of the Declaration of Trust, which is hereby adopted as a part of the Retirement Trust and this Participation Agreement. The Retirement Trust's participation in each Fund will also be subject to the terms of the Declaration of Trust. 4. Acceptance of Plan. The Trust Company accepts the Retirement Trust (including each plan forming a part thereof) as a Participating Trust as of the date specified on the execution page of this Participation Agreement. S. Notice of Disqualification. In the event that the Retirement Trust ceases to be an Eligible Trust as defined in the Declaration of Trust, then, in the case of any such event, the Employer shall deliverto the Trust Company a written notice of its ceasing to be an Eligible Trust within fifteen (15) calendar days of receipt of any notice, execution of any amendment, receipt of any letter or determination of such cessation. Upon the Trust r {2016 Exhibit 2 55E -7