 
CRT Administration Agreement Agreement for Charitable Remainder Trust Administration Services This agreement incorporates the enclosed fee schedule dated April, 1998, and the terms indicated on such schedule. The agreement can be terminated by either party without notice. Administrative services include an annual report summarizing CRT assets, transactions, current balances according to the four-tier accounting requirements of Sec. 664(b), and status of the "make-up" account in the case of a net income limitation unitrust. Such report does not normally include tracking of investment performance results in relation to stock market indices, since such reports are typically a function of the asset managers. Fees for services that are not normal or customary will be billed at an hourly rate depending on the level of expertise required. Reasonable out-of-pocket expenses may include, but are not limited to, tax-return computer charges, FAX, phone, etc. The period of the trust administration is measured from the appropriate period of work (date of funding or period from the last accounting), rather than the time of submission of the trust materials for administration. Unless otherwise agreed upon, fair market values for purposes of determining the trust administration fee will be measured by the value of the assets without reduction for minority discounts, marketability discounts, hypothetical costs of partitioning, or other factors that may affect tax valuations. While administrative services include tax calculations derived from fair market value determinations, it is the trustee's responsibility to make determinations of fair market value. The administrator shall not be responsible for the following: (a) decisions and actions by the trustee and/or investment adviser, (b) claims arising from investment experience of the trust and/or investments that cause the trust to lose its qualified status or exempt status under the federal and/or state tax provisions; (c) acts of self-dealing with respect to any disqualified person; (d) actions with respect to administration of the trust arising before the date of acceptance of the agreement; and (e) errors or breaches arising from incorrect, incomplete or untimely information from the trustee. Nothing in the agreement shall be construed as a delegation to the administrator of a fiduciary obligation to any person by the trustee. In no event shall either of the parties hereto be liable to the other for the payment of any indirect, incidental or consequential damages whatsoever resulting from a default in the performance of their respective obligations under this agreement or arising out of the terms and conditions of this agreement. Further, the administrator's liability to the trustee shall be limited to the total compensation paid or to be paid to the administrator by the trustee in the year during which any loss or damage was incurred by the trustee. Further, any law suit against the other party may not be initiated in a state other than the state of the party's residence. Trusts submitted for administration should be accompanied by the set-up fee paid out of the trust, a signed copy of this agreement, trust documents, a listing of full legal names of parties to the trust and their social security numbers, names of legal counsel and asset managers, addresses, phone and FAX numbers or all parties, dates of birth for donors, and Federal and state tax basis of donated assets. Administration fees should be paid by the trust, rather than the individuals. Submission of the trust agreements and related information for administration services will constitute acceptance of the terms of this agreement by the trustee. Cashing the check for the set-up fee constitutes acceptance by J. Michael Pusey. Checks should be made payable to J. Michael Pusey.
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