(A) All taxes, if any, upon or in respect of each investment fund shall be paid out of such investment fund.
(B) All expenses incurred by the Committee, Trustees, Investment Managers, depository and Plan Administrator (if any) and their agents in the performance of their duties hereunder and under the Plan, and such reasonable compensation of the Investment Managers, depository and Plan Administrator (if any) and their agents as may be agreed to from time to time by the Trustees, or in the case of a Plan Administrator by the Committee, shall be paid by NIRC unless:
(1) NIRC directs the Trustees in writing to pay such expense or other charge from the fund; or
(2) Such expense or charge has been due and payable but unpaid for 60 days after presentment to NIRC and NIRC has not directed the Trustees, in writing, not to pay such expense or other charge from the Fund.
(C) If paragraphs (B)(1) or (B)(2) above applies, such expense or other charge shall be paid by the Trustees from the investment fund to which such expense or charge relates, or if this is unascertainable, such expense or charge shall be paid from each investment fund on a pro rata basis; provided, however, that:
(1) No Trustee, Committee member or other individual who receives substantially full-time compensation from the employer as an officer or employee shall be paid any compensation from the fund except for reimbursement of reasonable expenses duly incurred in the performance of his or her duties hereunder; and
(2) No charge or expense for insurance to cover liability or losses occurring by reason of the act or omission of a fiduciary shall be paid from the fund unless such insurance permits full recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary.
(Ord. MET 86-13, passed 5-30-1986)