INVESTMENT ADVISORY AGREEMENT (2)
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INVESTMENT ADVISORY AGREEMENT
THIS INVESTMENT ADVISORY AGREEMENT is entered into between THE TRUSTEES
OF THE CITY OF CLEARWATER EMPLOYEES. PENSION FUND (hereinafter "the Trustees")
and EICKHOFF, PIEPER & WILLOUGHBY, INC. (hereinafter "Eickhoff"), whose address
is 101 East Kennedy Boulevard, Suite 2460, Tampa, Florida 33602, effective as
of the 16th day of July, 1990.
In consideration of the mutual covenants and benefits to be provided by
each party to the other, as set forth herein, the Trustees and Eickhoff agree
as follows:
1.
Services to be provided.
Our i ng the term of th i s agreement,
Eickhoff shall serve in the capacity of external investment adviser to the
Trustees and, in that capacity, shall advise the Trustees on equity matters and
fixed income matters relating to the General Employees Pension Fund. The duties
of Eickhoff shall include, but are not necessarily limited to, the following:
(a) Attend all regular meetings of the Finance Committee of the Trustees
(the "Committee") as requested by the Chairman of the Committee.
(b) Attend and participate in other staff meetings or work sessions of
the Trustees relating to pension investment matters as requested by the Chairman.
(c) Provide advice and counsel to staff and Committee relating to all
investment matters pertinent to the investment policies, strategies and
operations of the Pension Fund. This advice and counsel shall be supported by
writings, research and other pertinent material gathered from internal and
external (nationally recognized research firms) sources. Such matters shall
include, but are not necessarily limited to, the following:
1. Strategic and tactical asset mix (diversification among
permissible classes of assets).
2. Diversification among investment manager styles and types.
3. Economic and market analysis.
4. Assisting the Committee in evaluating investment managers,
performance consultants, and other consultants, and systems which may be
required, and effecting changes in same when required. Given the current
size of the pension portfolio, the addition of one or more investment
managers may be considered during the term of this agreement, in which
event a period of intensive review and consultation would be required.
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2. Fees. Eickhoff shall provide its services under this agreement for
a fee of $7,500.00, inclusive of all professional fees and costs. The fee shall
be billed quarterly in equal installments of $1,875.00 per quarter.
3.
Term.
This agreement shall continue until terminated by either
party as provided below.
4.
Termination.
Either party may terminate this agreement upon
providing 30 days written notice to the other party.
5. Representative. The Finance Director for the City of Clearwater,
who is designated by ordinance as the Finance Director for the Trustees, shall
serve as the representative of the Trustees in dealings with Eickhoff.
IN WITNESS WHEREOF, the parties hereto have set their hands and official
seals on the date first above written.
THE TRUSTEES OF THE CITY OF CLEARWATER
EMPLOYEES. PENSIO FUND
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EICKHOFF, PIEPER & WILLOUGHBY, INC.
By:
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