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CITY of ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. 5419 <br />A RESOLUTION AMENDING AND RESTATING <br />THE CITY'S FLEXIBLE COMPENSATION PLAN <br />WHEREAS, the City of Orono previously adopted the City of Orono Flexible <br />Compensation Plan on January 1, 1991; and <br />WHEREAS, City of Orono desires to amend and restate such Plan as presented to <br />include the following: <br />The Plan desires to amend and restate the Plan to incorporate all previous <br />Surarnary of Material Modifications and to comply with the most recent <br />and relevant regulatory changes since the adoption of the Plan which was <br />on January 1, 1999. <br />NOW, THEREFORE, BE IT RESOLVED, that the City of Orono Flexible <br />Compensation Plan be and the same is amended and restated effective as of January 1, 2006; <br />BE IT FURTHER RESOLVED, that any authorized persons of the Employer are <br />hereby authorized to make such contributions from the funds of the Employer as are necessary to <br />carry out the provisions of said plan at any time; and <br />BE IT FURTHER RESOLVED, that in the event any conflict arises between the <br />provisions of said Plan and the Employee Retirement Income Security Act of 1974 (ERISA) or <br />any other applicable law or regulation (as such law or regulation may be interpreted or amended), <br />the Company shall resolve such conflict in a manner which complies with ERISA or such law or <br />regulation. <br />Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held <br />January 23, 2006. <br />ATTEST: <br />Linda S. Vee, City Clerk <br />Barbara A. Peterson, Mayor <br />Flexible Spending 2006.doc <br />