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[Hamilton Manufacturing Company meeting minutes, 1941-1947]
(1941-1947)

1942


salary, and who have been regular employees of
the Company for ten years or more.
4. The benefits of the trust shall be available
to said participants either in addition to the
benefits of any company-maintained employee-
welfare program or in substitution for the
benefits of such company-maintained employee-
welfare program, if the latter should at any
time be discontinued or curtailed.
5. No part of the trust fund shall ever revert to
the Company or be used for its benefit under
any circumstances.
6. The Trustee shall have broad powers covering
its investment of the trust fund, the accumula-
tion of income and disbursement of income and
corpus to designated participants at such times
and in such amounts and by such methods as the
Trustee may from time to time determine.
7. The participants, entitled to enforce performance
by the Trustee of all its obligations under the
trust indenture, shall be those identified in
paragraph 3 above; and the Company will certify
the names of said participants to the Trustee
at the time of the inception of the trust,
and from time to time thereafter as additional
participants become eligible.
8. Specifically, the Trustee shall be empowered
by the trust indenture to purchase income endow-
ment or annuity contracts, maturing at age
sixty-five or, at the discretion of the Trustee,
at a later age, on the lives of each of the
participants; and in a general sense the
contracts to be so purchased by the Trustee
shall be such as will supply to the respective
participants an amount of monthly retirement
income which, when added to their respective
Social Security benefits (received from the
United States or other governmental source)
will equal one-third of their respective monthly
base salary at the time when they become partic-
ipants under the trust."
The president called the attention of the board to the
fact that for several months there have been nine participants
or beneficiaries under the Executive Employees Retirement Trust,
created by the Company under date of December 29, 1941, and that
one of said participants is R. W. Brunsman, on whose account the


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