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hereby establish a trust for the purpose of accumulating and investing assets to fund Other Post - Employment Benefits for Participating Employers; and WHEREAS, the parties intend that the Trust Fund hereby established, when taken together with the plans providing Other Post - Employment Benefits, shall constitute a tax- exempt governmental trust under Section 115 of the Internal Revenue Code of 1986, as amended; NOW, THEREFORE, the parties hereto mutually agree as follows: PART I- GENERAL PROVISIONS Section 100. APPLICATION. The provisions of Part 1 are general administrative provisions applicable to each Part of this Agreement and provisions applicable to the Board of Trustees. Section 101. DEFINITIONS. The following definitions shall apply to this Agreement, unless the context of the term indicates otherwise, and shall govern the interpretation of this Agreement: A. Administrator. The term "Administrator" means the Virginia Local Government Finance Corporation (d/b /a "VMLNACo Finance Program ") or any successor designated by the Board of Trustees, with the consent of the Virginia Association of Counties and Virginia Municipal League, to administer the Trust Fund. B. Beneficiary. The term "Beneficiary" means a person designated by an Employee, in accordance with the terms of a Plan, to be entitled to benefits under such Plan, and where the context requires, includes a dependent of the Employee. C. Code. The term "Code" means the Internal Revenue Code of 1986, as amended, and, as relevant in context, the Internal Revenue Code of 1954, as amended. D. Custodian. The tern "Custodian" means the banks, mutual funds, insurance companies or other qualified entities selected by the Board of Trustees, under a separate written document with each, to hold the assets of the Trust Fund. E. Effective Date. The term "Effective Date" means the date coinciding with the last to occur of each of the following events: (i) passage of an ordinance by each of the Counties of Fairfax and Henrico approving such Counties as Participating Employers in the Trust Fund; (ii) execution by the Local Finance Boards of the Counties of Fairfax and Henrico of the Trust Joinder Agreement; (iii) execution of this Agreement by all members of the initial Board of Trustees and the Administrator; and (iv) any contribution of cash to the Trust by a Participating Employer. As amended December 7, 2012 1)